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Agenda - 06-23-1988
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Agenda - 06-23-1988
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BOCC
Date
6/23/1988
Meeting Type
Work Session
Document Type
Agenda
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• <br /> MEMO TO: Board of Commissioners <br /> FROM: John Link, County Manager <br /> SUBJECT: Alternatives for School Funding <br /> DATE: June 17, 1988 <br /> Based on individual Commissioner comments made during the <br /> course of this week's budget discussions, you have shared <br /> concerns about the following: <br /> 1) Finding ai budget alternative which would reduce the <br /> Chapel Hill/Carrboro School district tax. <br /> 2) Meeting the needs of the Orange County system. <br /> 3) Narrowing the gap in percentage increases for the two <br /> school systems. <br /> 4) Keeping tax rate increases down for all citizens of <br /> Orange County, given the upcoming bond issue. <br /> With these concerns in mind, we have formulated the <br /> following draft alternative for funding education in FT <br /> 1988-89 . <br /> 1) Increase the per student allocation from $950 to $967 <br /> This would provide an additional $87,000 to Orange <br /> County and an additional $93,000 in County funds to <br /> Chapel Hill/Carrboro. <br /> 2) Increase the appropriation from fund balance in the <br /> Chapel Hill/Carrboro system from $515,000 to <br /> $644,000. This would leave an estimated undesignated <br /> fund balance of $511,000, or 4.5% of the current <br /> expense fund. (Per present Commissioner Policy, <br /> maximum undesignated Fund balance is 5.5%) <br /> 3) Decrease the district tax from 18.75 cents ( a 2.25 <br /> cent increase) to 17.75 cents (a 1.25 cent increase) . <br /> This decrease in the recommended tax rate could be <br /> accomplished without reducing the original <br /> recommended funding level available to Chapel <br /> Hill/Carrboro schools because of the additional <br /> $93,000 from County funds and the additional $129,000 - <br /> appropriation from fund balance. <br /> The above scenario would cost the County's General Fund <br /> $179,707. This is equivalent to .54 cents on the County's <br /> property tax rate. <br />
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