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W
<br />Current Year 1 Year 2 Year 3 Year 4 Year 5 Five Year 6
<br />Prior Years Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Year to
<br />Project Budget Funding 2012 -13 2013 -14 2014 -15 2015 -16 2016 -17 2017 -18 Total Year 10
<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 - 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 />7,323,828
<br />Article 46 Sales Tax- CHCCS
<br />190,625
<br />799,500
<br />811,492
<br />823,664
<br />836,020
<br />848,560
<br />861,288
<br />4,181,024
<br />4,504,154
<br />Article 46 Sales Tax - OCS
<br />121,875
<br />500,500
<br />508,008
<br />515,628
<br />523,362
<br />531,212
<br />539,181
<br />2,617,391
<br />2,819,674
<br />Total
<br />625,000
<br />2,600,000 1
<br />2,639,000
<br />2,678,585
<br />2,718,764
<br />2,759,545
<br />2,800,938
<br />13,596,831 1
<br />14,647,656
<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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