Orange County NC Website
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County Capital Investment Plan (chart) <br /> Concerns and Issues for FY 2015-2016 <br /> • Federal State Budget Issues <br /> • Debt Service <br /> • County Capital Projects <br /> • School Capital Projects <br /> • Health Insurance <br /> • Post-employment Insurance benefit for retirees <br /> • Economic Development <br /> • Economy <br /> • Revaluation <br /> • General Fund Revenues <br /> FY 2015—2016 Budget (chart) <br /> Public Hearings and Work Sessions <br /> (All Meetings Begin at 7:00 p.m.) (Chart) <br /> Document Availability <br /> • Clerk to Board of Commissioners <br /> • County Finance & Administrative Services Office <br /> • Orange County Library <br /> • Chapel Hill Public Library <br /> • Carrboro/McDougle Branch Library <br /> • Cybrary, Carrboro <br /> • Orange County Website <br /> Clarence Grier referred to the slide on projected cash flow. He noted that the <br /> manager's recommended budget showed only one quarter with positive cash flow. He said the <br /> County needs fund balance to mitigate the periods of negative cash flow. He said the current <br /> fund balance for the general fund is approximately $36.7 million. Referring to the slide titled <br /> Orange County Budget Past 6 Fiscal Years, he noted that the County's budget has increased <br /> from $177.6 million to the current $195.6 million, which is an increase of$18 million over the <br /> past 6 years. He said the increase in the current year is $8 million by itself, which is the result <br /> of an improving economy after the recession. <br /> Clarence Grier referred to the bar graph on property tax revenue. He said the <br /> components of the property tax include motor vehicles and real property. He said real property <br /> has increased by 1.5 percent in the past 6 years. He said the registered motor vehicles <br /> amount is projected to increase to $7.9 million due to the change in how the taxes are <br /> collected, as well as increased property tax values. <br /> He said that property taxes currently account for 72.9 percent of the budget and this is <br /> reduced based on the increased reliance on appropriated fund balance. He said sales tax is <br /> currently the second largest revenue source, followed by intergovernmental sources. He said <br /> these two sources were reversed during the recession, and the improved economy has moved <br /> sales tax back to the second highest spot. <br /> Clarence Grier said the additional $95 per student funding funds the growth of <br /> approximately 297 additional students, as well as the recommended local portion of the state's <br /> recommended 3 percent raise for state employees. <br />