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Created 4/12/07 <br />~ ~- <br />Fair Funding for Schools <br />Goal Statement -Collaborate with the Chapel Hill Carrboro City Schools and <br />Orange County Schools Boards of Education to identify <br />ways to address fair funding for schools. <br />Objectives <br />1. Define what funding components (current expense, capital, fair funding, debt <br />and debt service) should be considered in the fair funding equation. <br />2. Consider the following June 8, 2006 recommendations from the Fair Funding <br />Work Group with regard to funding school capital needs: <br />a. Use lottery proceeds to provide an additional funding stream for <br />school capital projects. These funds should not supplant <br />current funding sources. <br />b. Include new school start-up costs for equipment and technology <br />in the projected capital budgets for new schools and fund along <br />with the construction costs. <br />c. Review the level at which impact fees are assessed and' adjust <br />them in light of increased construction costs. <br />d. Allocate impact fees directly to the school districts, outside of <br />the 60/40 formula, to be used for pay-as-you-go funding" for <br />school construction. <br />3. Consider the following June 8, 2006 recommendations from the Fair Funding <br />Work Group with regard to funding school operating needs: <br />a. Consider the Board approved $800,000 allocation for human <br />services and safety initiatives in fiscal year 2006-07 over and <br />above the 48.1 .percent target. <br />b. Allow usage of the $800,000 allocation for services and <br />programs such as (but not limited to) middle college, <br />transportation of students between districts, other collaborative <br />initiatives, and health and safety positions. The outcome should <br />at least maintain the current levels of any services in either <br />district. <br />c. Add one cent to the general ad valorem tax to provide additional <br />funding for the school districts in budget year 2006-07. This <br />one-cent increase should be treated as additional funding over <br />and above the 48.1 percent target. <br />d. Commit to an additional one cent increase to the general ad <br />valorem tax over and above the previous year's increase to <br />provide supplemental funding to the school districts for fiscal <br />years 2007-08 and 2008-09, with these increases to be treated <br />