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expenditures are expected to be $187,318,733. He said this gives an expected increase in the
<br /> general fund balance of$5,639,217. He said the projected excess general fund unassigned
<br /> fund balance as of June 2014 totals $1,911,124, and the projected ending general fund
<br /> unassigned fund balance as of June 30, 2014 totals $35,280,170, which equates to an increase
<br /> of 18.83 percent.
<br /> Michael Talbert went over the proposed usage of unassigned fund balance as outlined
<br /> on the white hand out. He said the $1,911,124 in unassigned fund balance is over and above
<br /> the 17 percent in the fund balance policy. He noted that the Board will see, at the meeting on
<br /> June 17th, an agenda item that reflects a proposed refunding based on the County's new AAA
<br /> rating, and this will save the County $837,808. He said this new rating will give the County much
<br /> better borrowing rates. He said the 17 percent fund balance goal is a milestone that should be
<br /> kept.
<br /> Michael Talbert said the House is expected to vote on their budget on June 13th and then
<br /> it will go to the conference committee. He said there will likely not be a decision prior to Orange
<br /> County adopting their budget on Tuesday night.
<br /> Michael Talbert outlined the following details of scenarios for a potential tax increase and
<br /> the impact of this increase:
<br /> Incre
<br /> ase
<br /> in
<br /> Per
<br /> Mgr Tax Pupil
<br /> Per Total Rate Fund
<br /> Enrollment Pupil Mgr Request Difference 1 cent increase Per Pupil ing Mgr Total
<br /> 67,959,528 72,383,766
<br /> CHCCS 20,202.00 3,364 4,424,238.00 1,638,241 2.70 3,583.00 219 95.00 314.00
<br /> 67,959,528 71,757,504
<br /> OCS 20,202.00 3,364 3,797,976.00 1,638,241 2.32 3,552.00 188 95.00 283.00
<br /> Tax CHCCS Fund
<br /> Increase Balance
<br /> 1.50 2,457,736.00 4,424,238.00 1,966,502.0 1,911,12 (55,378.00
<br /> 0 4.00 )
<br /> Mgr 67,959,528 1.75 2,866,921.75 4,424,238.00 1,557,316.0 1,911,12 353,808
<br /> Rec. 0 4.00
<br /> 65,079,252 2.00 3,276,482.00 4,424,238.00 1,147,756.0 1,911,12 763,368
<br /> Original 0 4.00
<br /> Increas 2,880,276 2.50 4,095,603.00 4,424,238.00 328,635.00 1,911,12 1,582,489
<br /> e 4.00
<br /> Mgr
<br /> Rec. 3,364.00
<br /> Tax OCS Fund
<br /> Original 3,269.00 Increase Balance
<br /> Increas 95.00 1.50 2,457,736.00 3,797,976.00 1,340,240.0 1,911,12 570,884
<br /> e 0 4
<br /> 1.75 2,866,921.75 3,797,976.00 931,054.00 1,911,12 980,070
<br /> 4
<br /> 2.00 3,276,482.00 3,797,976.00 521,494.00 1,911,12 1,389,630
<br /> 4
<br /> 2.50 4,095,603.00 3,797,976.00 (297,627.00 1,911,12 2,208,751
<br /> ) 4
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