Agenda - 06-26-1995 - IX-B - Laserfiche WebLink

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Attachment 1 4 Summary of Changes to the Manager's Recommended General Fund Budget Expenditures A-1 Distribute Cost of Living Adjustment- Funds for the cost of living adjustment for County employees are budgeted in the Miscellaneous category of the Manager's Recommended Budget. This adjustment distributes these funds to the departmental budgets. A-2 Reduce County Travel and Training - The Board reduced the overall County travel budget by $20,000. This adjustment makes this change. A-3 Additional funds for the Schools -The Board increased the appropriation to the two school systems by the equivalent of 1.45 cents on the tax rate. This adjustment increases the General Fund appropriation by $690,269. For the Orange County Schools the increase in appropriation is $287,693, bringing the total amount from a recommended $8,537,840 to $8,825,533. For the Chapel Hill-Carrboro City Schools the General Fund appropriation increases by $402,576,bringing the budget from the recommended level of$11,947,299 to $12,349,776. The per pupil expenditure increases from a recommended level of$1,520 to $1,571. The Chapel Hill-Carrboro City School District tax remains at the 1994-95 rate of 15.40 cents per$100 of assessed valuation. A-4 The Board of Commissioners increased the appropriation to the Chapel Hill Library by $18,000. The recommended appropriation was $157,000. The new total for the Library is $175,000. The appropriation to the Carrboro Library is increased by $5,000, increasing the amount from $40,000 to $45,000. The appropriation to the Mebane Library increases by $32, from $653 to $685. The total increase for libraries is $23,032. A-5 The Board appropriated $57,998 to the Junior League of Durham and Orange Counties to help fund the middle school after-school program at all five middle schools in Orange County. A-6 The Board established a School Capital Reserve Fund equivalent to one cent on the tax rate. The amount of this appropriation is $476,048. Revenue A-7 To fund the equivalent increase in the appropriation to the Schools of 1.45 cents (A-3 above) and the equivalent of one cent on the tax rate for the School Capital Reserve Fund (A-6 above), netting out decreases in County travel and training (A-2 above) and an increase in the fund balance appropriation (see A-9 below), the Board increased the Manager's Recommended ad valorem tax rate by 2.25 cents, bringing the total increase in the ad valorem tax rate to 6.25 cents. The tax rate increases over the 1994-95 rate of 88.5 cents per $100 of assessed valuation to 94.75 cents per $100 of assessed valuation.