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4 <br /> 1 • Equals an appropriation of 49.3 percent of total General Fund Revenues <br /> 2 • Reflects $2.9 million increase from current year General Fund appropriation <br /> 3 • Equates to a current expense allocation of$3,364, a $95 increase, per student <br /> 4 for each of the 20,202 students in both districts for day-to-day operating funds <br /> 5 and projected enrollment growth. <br /> 6 <br /> 7 Components of the Education Funding Manager Recommended <br /> Current Expense $67,959,528 <br /> Recurring Capital $3,000,000 <br /> Long Range Capital $3,724,849 <br /> Debt Service $16,608,984 <br /> Fair Funding $988,000 <br /> Total Education Funding $92,281,361 <br /> General Fund Revenues $187,131,286 <br /> Percentage to General Fund Revenues 49.3% <br /> 8 The BOCC target is 48.1% of General Fund Revenues <br /> 9 <br /> 10 • County Education Funding <br /> Fiscal Year Original Budget % of Revenue <br /> 2009-2010 $86,378,040 48.6 <br /> 2010-2011 $87,135,916 49.8 <br /> 2011-2012 $84,175,033 47.5 <br /> 2012-2013 $85,455,533 48.1 <br /> 2013-2014 $89,424,651 49.0 <br /> 2014-2015 $92,281,361 49.3 <br /> 11 Current Expense, Recurring and Long-Range Capital, Fair Funding, and Debt Service <br /> 12 <br /> 13 Additional Funding for Local Schools <br /> 14 • In addition to the $92.3 million for operations, debt and capital, recommended budget <br /> 15 allocates $1.25 million to fund non-mandated safety net initiatives for both school <br /> 16 districts Some of these initiatives are: <br /> 17 • School Health Nurses - $697,380 <br /> 18 • School Resource Officers - $556,424 <br /> 19 • School Social Workers - $0, due to the of loss State revenue <br /> 20 • With these additional non-mandated funding initiatives, the total funding for the local <br /> 21 school districts total 49.9% of the General Fund Revenues <br /> 22 <br /> 23 Major Funded County Initiatives <br /> 24 • Maintains all County services at current levels <br /> 25 • Funds the increase in medical insurance and fully funds the 401(k)/457 plans for non- <br /> 26 sworn employees <br /> 27 • A cost of living and merit increase equating up to 2% in compensation for employees <br /> 28 • Provides for an increased funding for Emergency Services to address the <br /> 29 recommendations of the Emergency Services Study and Work Group <br /> 30 • Provides funding to the Town of Chapel Hill Library totaling $568,139 <br /> 31 • Allocations provided to non-profit organizations total $1,074,100 for FY 14-15. <br /> 32 • Long range/pay-as-you go County capital is $464,800. <br /> 33 • Debt service for the General Fund will be $26.5 million. <br /> 34 <br />