Agenda - 04-25-2013 - 1 - Laserfiche WebLink

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K very difficult for the County to fill gaps in funding where the State reduces its financial commitment to education. Orange County Schools is requesting an increase in the funding to cover expected growth in enrollment. Expected enrollment for Orange County Schools is expected to increase 81 students, which would increase the funding from the County by $256,527. This funding request would represent 0.16 cents on the current property tax rate. Chapel Hill — Carrboro City Schools is requesting an increase in the local per pupil allocation of $393. This requested increase in the local per pupil allocation for current expenses would increase the per pupil allocation to $3,560. This funding level would represent an approximate increase in the current expense for both school districts of $8.48 million, which would represent 5.39 cents of the current property tax rate based on the projected Average Daily Membership provided by North Carolina Department of Public Instruction. During tonight's presentation, each system will share their FY2013 -14 operating and capital budgets with the Board of County Commissioners. FINANCIAL IMPACT: Preliminary FY2013 -14 revenue projections anticipate the County's General Fund revenues will be approximately $182 million. Staff has assumed no receipt of Public School Building Fund monies in this projection for the County's General Fund. (Note: NC Education Lottery proceeds are revenues budgeted in individual capital projects and not considered General Fund Revenue.) Based upon the County Commissioner's funding target of 48.1%, the funding to the two school systems would be approximately $87.5 million, based on the preliminary FY2013 -14 revenue projections. RECOMMENDATION(S): The Manager recommends that the Board discuss the issues noted and provide direction to staff, as appropriate.