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Steve Brantley said there are two other programs that have not been tapped at all - <br /> Business Investment Grants, designated to receive 8 percent of the annual expenditures; and <br /> the Agricultural Investment Grant, designated to receive 5 percent of these funds. He said the <br /> funds for these have accrued, but there has been no protocol for how to administer these <br /> grants. He said, through this year, the economic development advisory board has worked on <br /> developing these guidelines, policies and procedures, and the goal is to present this to the <br /> Board in December for review. <br /> Steve Brantley said the final category is Marketing and Collaborative Outreach <br /> Advertising, Publishing & Collateral Materials, which is a combined 3 percent of annual <br /> expenditures. <br /> Clarence Grier reviewed the following revenue and expense information, as gathered <br /> since the inception of this tax: <br /> Article 46 Sales Tax Collection - October 2014 Report <br /> Orange County, NC <br /> Revenues <br /> Sales Tax Month/Year Month Distributed Amount <br /> Total FY 2011-12 $ 709,663 <br /> Total FY 2012-13 $ 2,732,718 <br /> Total FY 2013-14 $ 2,859,675 <br /> July 2014 October 2014 257,744 <br /> Total FY 2014-15 $ 257,744 <br /> Grand Total - Revenues: $ 6,559,800 <br /> Expenses <br /> Fiscal Month/Year Department of Economic Chapel Hill-Carrboro Orange County <br /> Development City Schools Schools <br /> Total FY 2011-12 $ 20,000 - - <br /> Total FY 2012-13 $ 78,730 $ 51,242 $ 490,000 <br /> Total FY 2013-14 $ 1,126,944 $ 1,023,273 $ 513,055 <br /> July 2014 1,500 - - <br /> August 2014 446 181,245 - <br /> September 2014 426,480 12,767 - <br /> October 2014 23,876 279,092 - <br /> Total FY 2014-15 $ 452,302 $ 473,104 $ - <br /> Grand Total - Expenses: $ 4,228,650 <br /> Clarence Grier said Chapel Hill Carrboro City Schools have spent about $1.3 million; <br /> Orange County Schools have spent about $1 million; and Economic Development initiatives <br /> have totaled $1.65 million. He said half of the revenues are allocated to education ($3.3 <br /> million), which leaves $3.3 million for economic development initiatives. <br /> He said the expenditures, as of October 31, 2014 are $1.7 million, and total committed <br /> funds and expenditures are $2.4 million. He said there is $890,000 in available funds as of <br /> today. <br /> Chair Jacobs recognized state representative Graig Meyer. He also noted the <br /> information at the Commissioners' places. <br />