|
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 2014 -19
<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 />2013 -14
<br />2014 -15
<br />2015 -16
<br />2016 -17
<br />2017 -18
<br />2018 -19
<br />Total
<br />Year 10
<br />1,612,500
<br />1,366,000
<br />1,386,490
<br />1,407,287
<br />1,428,398
<br />1,449,824
<br />1,471,572
<br />7,143,571
<br />7,695,650
<br />990,125
<br />840,090
<br />852,690
<br />865,482
<br />878,464
<br />891,640
<br />905,013
<br />4,393,290
<br />4,732,812
<br />622.375
<br />525.910
<br />533.800
<br />541.807
<br />549.934
<br />558.183
<br />566.555
<br />2.750.279
<br />2.962.824
<br />3,225,000 2,732,0001 2,772,980 2,814,576 2,856,796 2,899,647 2,943,140 14,287,1401 15,391,286
<br />Total 3,225,000 2,732,000 1 2,772,980 2,814,576 2,856,796 2,899,647 2,943,140 14,287,140 1 15,391,286
<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 2013 -14 is $2,732,000, 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 2012 -13 funding of $2,600,000 and FY 2011 -12, when
<br />proceeds for the April -June 2012 quarter were estimated at $625,000.
<br />10
<br />
|