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3 <br /> 1 General Fund Expenditures $(195,638,505) <br /> 2 Net $ <br /> 3 <br /> 4 Tax Savings Generated By the Use of Fund Balance <br /> 5 Fiscal Year Fund Balance Utilized Property Tax Rate Effect <br /> 6 2009-2010 $0 0 <br /> 7 2010-2011 $401,673 .26 <br /> 8 2011-2012 $1,131,417 .74 <br /> 9 2012-2013 $2,187,872 1.39 <br /> 10 2013-2014 $5,190,118 3.23 <br /> 11 2014-2015 $8,507,219 5.19 <br /> 12 <br /> 13 The cumulative tax effect of utilizing fund balance to balance the budget totals 10.81 <br /> 14 cents. <br /> 15 <br /> 16 Orange County Projected Cash flows for FY2014-15 (spreadsheet) <br /> 17 <br /> 18 Orange County Budget <br /> 19 Past 6 Fiscal Years (Bar graph) <br /> 20 <br /> 21 Proposed Ad Valorem Tax Rate Effective July 1, 2014 <br /> 22 • Proposed tax rate of 85.8 cents per $100 of assessed valuation <br /> 23 • This rate produces $140.6 million in property tax revenues for FY 2014 - 15 <br /> 24 • Overall Real Property Valuation increased 1.9% <br /> 25 • One cent on property tax estimated to generate $1,638,241 <br /> 26 <br /> 27 Orange County Property Tax Revenues Past 6 Fiscal Years (Bar graph) <br /> 28 <br /> 29 Sales Tax Revenues <br /> 30 • Recommended Sales Tax Revenues of$19.0 million is $1.8 million higher than the <br /> 31 $17.2 million budgeted in FY 2013-2014 due to increased in consumer spending , and <br /> 32 current year projections <br /> 33 • Actual sales tax revenues are down over 16% since the peak of$22.5 million in fiscal <br /> 34 year 2007-2008 <br /> 35 <br /> 36 • Orange County General Fund <br /> 37 FY 2014-15 Revenues (Pie chart) <br /> 38 <br /> 39 • Proposed Chapel Hill-Carrboro City Schools District Tax Rate Effective July 1, <br /> 40 2014 <br /> 41 Recommended tax rate of 20.84 cents per $100 of assessed valuation <br /> 42 - Represents no increase in the property tax rate for the District <br /> 43 Recommended tax rate will generate $21.8 million for the Chapel Hill — Carrboro City <br /> 44 School District <br /> 45 - This represents an additional $1,764 per pupil above the County's allocation <br /> 46 One cent on district tax is estimated to generate $1,044,521. <br /> 47 <br /> 48 Recommended Funding for Chapel Hill - Carrboro City and Orange County <br /> 49 Schools <br /> 50 • Total General Fund appropriation totals $92.3 million <br /> 51 • Funds day-to-day operations, repayment of school related debt, and capital <br />