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2 <br /> 1 • Represents an increase of$5.9 million from original current year budget of <br /> 2 $180.0 million, which is a 3.29 percent increase from previous year original <br /> 3 budget <br /> 4 • Represents a $6.2 million decrease in the current year's amended budget <br /> 5 Components of General Fund Budqet <br /> 6 <br /> 7 General Fund Revenues........................ $182,554,881 <br /> 8 General Fund Unassigned Fund Balance........... $ 3,366.309 <br /> 9 General Fund Expenditures........................... $ (185,921,190) <br /> 10 Net...................................... $ <br /> 11 <br /> 12 Orange County Budget <br /> 13 Past 6 Fiscal Years (Graph) <br /> 14 <br /> 15 Proposed Ad Valorem Tax Rate Effective July 1, 2013 <br /> 16 • Proposed tax rate of 85.8 cents per $100 of assessed valuation <br /> 17 • This rate produces $137.8 million in property tax revenues for FY 2013-2014 <br /> 18 • Overall Real Property Valuation increased 2.7% <br /> 19 • One cent on property tax estimated to generate $1,606,869 <br /> 20 <br /> 21 Orange County Property Tax Revenues <br /> 22 Past 6 Fiscal Years (Graph) <br /> 23 <br /> 24 Sales Tax Revenues <br /> 25 • Recommended Sales Tax Revenues of$17.2 million is $1.5 million higher than the <br /> 26 $15.7 million budgeted in FY 2012-2013 due to an expected 2 to 3 increase in consumer <br /> 27 spending , and current year projections <br /> 28 • Actual sales tax revenues are down over 31% since the peak of$22.5 million in fiscal <br /> 29 year 2007-2008 <br /> 30 <br /> 31 Orange County General Fund <br /> 32 FY 2013-14 Revenues (Graph) <br /> 33 <br /> 34 Proposed Chapel Hill-Carrboro Citv Schools District Tax Rate Effective Julv 1, 2013 <br /> 35 • Recommended tax rate of 18.84 cents per $100 of assessed valuation <br /> 36 • Represents no increase in the roperty tax rate for the District <br /> 37 - Recommended tax rate will generate �19.4 million for the Chapel Hill — Carrboro City <br /> 38 School District <br /> 39 • This represents an additional $1,584 per pupil above the County's allocation <br /> 40 • One cent on district tax is estimated to generate $1,029,085 <br /> 41 <br /> 42 Recommended Fundinq for Chapel Hill - Carrboro Citv and Oranqe Countv Schools <br /> 43 • Total General Fund appropriation totals $87.8 million <br /> 44 • Funds day-to-day operations, repayment of school related debt, and capital <br /> 45 • Equals an appropriation of 48.1 percent of total General Fund Revenues <br /> 46 • Reflects $2.4 million increase from current year General Fund appropriation <br />