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CHMEL HILL <br />A�ORO <br />CITY SCHOOLS <br />April 24, 2006 <br />TO: Mr—John Link / <br />Orange County Manager <br />FROM: Neil G. Pederse <br />Superintendent <br />RE: 2005 -06 Local Fund Balance Projection <br />We have projected our Local undesignated fund balance for the 2005 -06 fiscal year to be <br />$2.7 million. This projection is $500,000 higher than our actual 2004 -05 undesignated <br />fund balance of $2 2 million; about a 23% increase and will put us slightly above the <br />targeted 5 5% recommended by the County Commissioners. <br />Please keep in mind that we still have two more months in the fiscal year to spend and <br />cannot foresee contingencies that may arise. A copy of our fund balance history is <br />attached. <br />Attachment <br />cc: Steve Scruggs <br />Ruby Pittman <br />Lincoln Car;ci 750 5 10crri2 Vill Road Chaoel Hill MC 2'5113 287? 1910) 96, a211 www chrrs 1.12 rn: r,� <br />