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