Minutes 05-22-2014 - Laserfiche WebLink

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