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Project Description /Justification
<br />The Article 46 (1/4 cent) Sales Tax was approved by the voters in the November 2011 election, and became effective April 1, 2012. The anticipated revenue generated is
<br />$2,600,000 for FY 2012 -13, with an assumption of 1.5% growth in subsequent years. 50% of the proceeds are for Economic Development initiatives, and 50% of the proceeds for
<br />Education (allocated by the ADM count of the two school districts). In FY 2011 -12, proceeds of $625,000 were estimated for the April -June 2012 quarter. Note: Specific initiative
<br />allocations need to be looked at every two years to reassess project allocation schedule.
<br />*Note: The Board of County Commissioners approved a Water and Sewer Agreement with the City of Mebane at its June 19, 2012 meeting, whereby the City of Mebane reserves
<br />250,000 gallons per day of capacity in the Mebane water and sewer system at a cost of $50,000 per year for a period of 10 years. At such time as the County makes the tenth and
<br />final payment of $50,000, the City shall assume responsibility for determing capacity in the service area. The annual cost would be reduced as the reserved capacity in the Mebane
<br />system is allocated to new customers in the areas served.
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<br />Current
<br />Year 1
<br />Year 2
<br />Year 3
<br />Year 4
<br />Year 5
<br />Five
<br />Year 6
<br />Prior Years
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Fiscal Year
<br />Year
<br />to
<br />Project Budget
<br />Funding
<br />2012 -13
<br />2013 -14
<br />2014 -15
<br />2015 -16
<br />2016 -17
<br />2017 -18
<br />Total
<br />Year 10
<br />General Fund Related Operating Costs
<br />Personnel Services
<br />Operations
<br />New Debt Service
<br />Total Operating Costs
<br />-
<br />-
<br />-
<br />-
<br />-
<br />-
<br />Revenues /Funding Source
<br />Article 46 Sales Tax - Economic Development
<br />312,500
<br />1,300,000
<br />1,319,500
<br />1,339,293
<br />1,359,382
<br />1,379,773
<br />1,400,469
<br />6,798,416
<br />7,215,590
<br />Article 46 Sales Tax- CHCCS
<br />190,625
<br />790,500
<br />801,900
<br />813,471
<br />825,216
<br />837,136
<br />849,236
<br />4,126,959
<br />4,441,123
<br />Article 46 Sales Tax - OCS
<br />121,875
<br />509,500
<br />516,850
<br />524,310
<br />531,882
<br />539,568
<br />547,369
<br />2,659,979
<br />2,862,494
<br />Total
<br />625.000
<br />2.600.000
<br />2.638.250
<br />2.677.074
<br />2.716.480
<br />2.756.477
<br />2.797.074
<br />13.585.354
<br />14.519.207
<br />Project Description /Justification
<br />The Article 46 (1/4 cent) Sales Tax was approved by the voters in the November 2011 election, and became effective April 1, 2012. The anticipated revenue generated is
<br />$2,600,000 for FY 2012 -13, with an assumption of 1.5% growth in subsequent years. 50% of the proceeds are for Economic Development initiatives, and 50% of the proceeds for
<br />Education (allocated by the ADM count of the two school districts). In FY 2011 -12, proceeds of $625,000 were estimated for the April -June 2012 quarter. Note: Specific initiative
<br />allocations need to be looked at every two years to reassess project allocation schedule.
<br />*Note: The Board of County Commissioners approved a Water and Sewer Agreement with the City of Mebane at its June 19, 2012 meeting, whereby the City of Mebane reserves
<br />250,000 gallons per day of capacity in the Mebane water and sewer system at a cost of $50,000 per year for a period of 10 years. At such time as the County makes the tenth and
<br />final payment of $50,000, the City shall assume responsibility for determing capacity in the service area. The annual cost would be reduced as the reserved capacity in the Mebane
<br />system is allocated to new customers in the areas served.
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