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Project Name
<br />Functional Service Area
<br />Project Budget
<br />Appropriation
<br />Economic Development
<br />Chapel Hill- Carrboro City Schools
<br />Orange County Schools
<br />Total Project Budget
<br />General Fund Related Operating Costs
<br />Personnel Services
<br />Operations
<br />New Debt Service
<br />Total Operating Costs
<br />Revenues /Funding Source
<br />Article 46 Sales Tax
<br />Article 46 Sales Tax Fund Summary - RECOMMENDED
<br />Fiscal Years 2013 -18
<br />Article 46 Sales Tax
<br />Project Status
<br />Approved
<br />Special Revenue Fund
<br />Starting Date
<br />41112012
<br />Completion Date
<br />Ongoing
<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 />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 />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 />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 />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 />625,000 2,600,000 1 2,638,250 2,677,074 2,716,480 2,756,477 2,797,074 13,585,354 1 14,519,207
<br />Total 625,000 2,600,000 1 2,638,250 2,677,074 2,716,480 2,756,477 2,797,074 13,585,354 1 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 in
<br />FY 2012 -13 is $2,600,000, with an assumption of 1.5% growth in subsequent years. 50% of the proceeds are for Economic Development initiatives, and 50% of the
<br />proceeds for Education (allocated by the ADM count of the two school districts). Prior Years Funding reflects FY 2011 -12, when proceeds for the April -June 2012 quarter
<br />were estimated at $625,000.
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