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• Appropriate Fund Balance, if necessary; The Board may use up to $650,000 without a <br /> negative impact on fund balance <br /> • Property tax rate increase <br /> • Increase in CHCCS Special District Tax <br /> Revenues Generated By Property Tax Increase <br /> *1 cent increase generates $1,638,241 — Per pupil equivalency is $81.09 <br /> Revenues Generated By Increase in CHCCS Special District Tax <br /> *1 cent increase generates $1,044,521 — Per pupil equivalency is $84.50 <br /> County Capital Investment Plan <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 <br /> Public Hearings and Work Sessions <br /> (All Meetings Begin at 7:00 p.m.) <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 /> CommissionerPrice arrived at 7:06 p.m. <br /> Clarence Grier said fund balance is important because the cash flow is negative during <br /> several months of the year. <br /> He noted the change in the state collection of motor vehicle taxes and the corresponding <br /> increase in revenue. He said it is anticipated that the collection rate will increase from 89 <br /> percent to 99 percent in the next couple of fiscal years. <br /> Clarence Grier noted that the largest source of general fund revenues is property tax, at <br /> 72.8 percent, followed by sales tax at 9.7 percent. <br /> Clarence Grier said the largest component of expenditures is education, at 48.7 percent, <br /> with the next highest being Human Services at 16.8 percent. <br /> Clarence Grier noted that current property valuations are assessed 5.5 percent higher <br /> than sales. He said if a revaluation were to happen now, a property tax increase of 4.2 percent <br /> would be needed to generate the same revenues for the general fund. <br /> He said fund balance revenues have been used over the past 5 fiscal years to balance <br /> the budget, but this is unsustainable moving forward. He said additional revenues or cuts in <br /> expenses are needed. <br />