|
33
<br /> F TotalY 2021-22 Total FY 2022-23
<br /> OCS Approved FY 2022-23 Recommend Difference
<br /> Request
<br /> ADM 8,110 8,023 8,023 0
<br /> Current Expense $35,416,370 $40,835,870 $38,570,900 $2,264,970
<br /> Per Pupil Equivalent $4,367 $5,090 $4,808 $282
<br /> FY 2021-22 Total Total FY 2022-23
<br /> CHCCS Approved FY 2022-23 Recommend Difference
<br /> Request
<br /> ADM 12,351 11,442 11,442 0
<br /> Current Expense $53,936,817 $62,101,817 $55,007,882 $7,093,935
<br /> Per Pupil Equivalent $4,367 $5,428 $4,808 $620
<br /> Recurring Capital
<br /> Recurring capital for both School districts remains the same as the prior year appropriation of
<br /> $3 million dollars. The budget for FY 2022-23 includes $1,763,400 for Chapel Hill-Carrboro City
<br /> Schools and $1,236,600 for Orange County Schools. For FY 2022-23, a mix of debt financing
<br /> (see page 95 of the Capital Investment Plan (CIP)) and pay-as-you-go funding (see page 132
<br /> of the Operating Budget) is recommended for Recurring Capital. Recurring capital pays for
<br /> facility improvements, equipment, furnishings, and vehicle and bus purchases. State statutes
<br /> mandate counties to fund recurring capital. However, the amount of money counties allocate to
<br /> this function is discretionary and varies from county to county. Note: These amounts have
<br /> been revised (represented by yellow highlighting on Attachment 2-E) from the Original
<br /> Recommended Capital Investment Plan to reflect the revised average daily membership
<br /> (ADM) percentage, as included in the FY 2022-23 Manager Recommended Operating
<br /> Budget.
<br /> Long Range Capital
<br /> The County plans and programs long-range school capital funding through the County's Capital
<br /> Investment Plan (CIP). The recommended CIP budget for FY 2022-23 includes $2,502,680 for
<br /> Chapel Hill-Carrboro City Schools and $1,755,026 for Orange County Schools, as detailed on
<br /> Attachment 2-E, which is an updated version of page 95 of the CIP using the most recent ADM
<br /> for each district. This combines to a total of $4,257,706, which represents an increase of
<br /> $83,484 from FY 2021-22. A 2% annual growth rate is included throughout the years of the
<br /> CIP related to Long Range Capital. For FY 2022-23, as was the case in FY 2021-22, debt
<br /> financing will be utilized, instead of pay-as-you-go funds for Long Range Capital projects.
<br /> Similar to Local Current Expense funding, the amount of money counties allocate to long-range
<br /> capital expenditures is discretionary and varies from county to county.
<br /> School Debt Service
<br /> The recommended budget provides for $21,807,353 in School Related Debt Service, which
<br /> represents repayment of principal and interest on School related debt, including general
<br /> obligation bonds and private placement loans. This is a decrease of $1,930,893 from FY 2021-
<br /> 22. North Carolina statutes require counties to pay for school related capital items, such as
<br /> acquisition and construction of facilities. In instances where counties borrow funds to pay for
<br /> such items, the State mandates counties to repay the debt. The amount of money counties
<br /> borrow for school related projects is discretionary and varies from county to county.
<br />
|