Agenda - 09-04-2014 - 6a - Laserfiche WebLink

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5 1 • Actual sales tax revenues are down over 16% since the peak of$22.5 million in 2 fiscal year 2007-2008 3 4 Orange County General Fund FY 2014-15 Revenues (pie chart) 5 Proposed Chapel Hill-Carrboro City Schools District Tax Rate Effective July 1, 2014 6 • Recommended tax rate of 20.84 cents per $100 of assessed valuation 7 • Represents no increase in the property tax rate for the District 8 • Recommended tax rate will generate $21.8 million for the Chapel Hill — Carrboro 9 City School District 10 • This represents an additional $1,764 per pupil above the County's allocation 11 • One cent on district tax is estimated to generate $1,044,521. 12 13 Recommended Funding for Chapel Hill - Carrboro City and Orange County Schools 14 • Total General Fund appropriation totals $92.3 million 15 • Funds day-to-day operations, repayment of school related debt, and capital 16 • Equals an appropriation of 49.3 percent of total General Fund Revenues 17 • Reflects $2.9 million increase from current year General Fund appropriation 18 • Equates to a current expense allocation of$3,364, a $95 increase, per student 19 for each of the 20,202 students in both districts for day-to-day operating funds 20 and projected enrollment growth. 21 22 County Education Funding 23 Fiscal Year Original Budget % of Revenues 24 2009-2010 $86,378,040 48.6% 25 2010-2011 $87,135,916 49.8% 26 2011-2012 $84,175,033 47.5% 27 2012-2013 $85,455,533 48.1% 28 2013-2014 $89,424,651 49% 29 2014-2015 $92,281,361 49.3% 30 31 Additional Funding for Local Schools 32 • In addition to the $92.3 million for operations, debt and capital, recommended budget 33 allocates $1.25 million to fund non-mandated safety net initiatives for both school 34 districts Some of these initiatives are: 35 • School Health Nurses - $697,380 36 • School Resource Officers - $556,424 37 • School Social Workers - $0, due to the of loss State revenue 38 • With these additional non-mandated funding initiatives, the total funding for the local 39 school districts total 49.9% of the General Fund Revenues 40 41 Major Funded County Initiatives 42 • Maintains all County services at current levels 43 • Funds the increase in medical insurance and fully funds the 401(k)/457 plans for 44 non-sworn employees 45 • A cost of living and merit increase equating up to 2% in compensation for 46 employees 47 • Provides for an increased funding for Emergency Services to address the 48 recommendations of the Emergency Services Study and Work Group 49 • Provides funding to the Town of Chapel Hill Library totaling $568,139 50 • Allocations provided to non-profit organizations total $1,074,100 for FY 14-15.