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3 <br /> • 62.5% received need based financial aid <br /> • Funded by Article 46 Sales Tax (economic development funds) <br /> Commissioner Dorosin asked if the scholarships are need-based. <br /> Dr. Ingram said no, as sometimes it is difficult for a student to document need. He said <br /> scholarships are made available to any senior that graduates, and wants to go to Durham <br /> Tech. He said about 60% of the recipients do have financial need. <br /> Commissioner Dorosin asked if the process for handing out the 50 scholarships could <br /> be explained. <br /> Dr. Ingram said the hope is to have adequate funds to provide scholarships to any <br /> senior that applies, which may necessitate a budget amendment. He said this amount would <br /> cover tuition and fees for one semester for a full time, in-state student. <br /> Commissioner Jacobs said he found it interesting that Durham County has a similar <br /> program, using a sales tax to fund scholarships. <br /> Travis Myren noted that any Article 46 funds used would be from the economic <br /> development portion, and not the educational portion, of the funds. <br /> Travis Myren reviewed the following PowerPoint slides: <br /> School Funding <br /> O Projected Enrollment - p.147 <br /> • Influence on current expense and capital funding allocations <br /> • Chapel Hill-Carrboro City Schools projected decrease in budgeted enrollment by <br /> 246 <br /> • Orange County Schools (OCS) projected budgeted enrollment increased by 165 <br /> • Proportion changes by 0.98% accordingly <br /> O Manager's Recommended Budget— p. 147 & 148 <br /> • Health and Safety Contracts (Nurses/SROs) — $1.4 million <br /> o Full reimbursement program based on actual costs incurred <br /> o Not calculated in current expense <br /> • Fully fund Charter students (205) - $763,000 <br /> o Not calculated in current expense <br /> • Mandated Retirement and Health Ins. —Add 485,000 <br /> o Included in current expense <br /> School Funding <br /> O Total Appropriations - $99,848,327 <br /> • Current expense - $74,287,398 <br /> • Recurring Capital - $3,000,000 <br /> • Long Range Capital - $3,799,346 (pay-as-you-go in CIP) <br /> • Debt Service - $15,372,383 <br /> • Other School Related Programs - $3,389,200 <br /> O 49.4% of General Fund Revenues recommended <br /> O 48.1% current funding target <br /> 2015 County Appropriation Comparison - chart <br /> Spending by Funding Source - chart <br />