Orange County NC Website
Browse       Search
30 <br /> 1 Slide #50 <br /> FY2024- 4 Recommended Capital Investment Plan <br /> Debt Service to General Fund Revenue Prallcy Compliance FY2024-34 <br /> 2n <br /> 20°. .9eT.i 19.89'T <br /> 3T <br /> 19.Ov9i <br /> 18.1794 <br /> 1&A <br /> :fi2Yi <br /> 161 <br /> 13.Q3L• 12:M <br /> ll <br /> 12k <br /> :+2ptd-23 +1c2y.zn mma-27 MW7T 8 mu&23 F M9-30 GY20d"i MUM-32 mN213 F 3-26 <br /> r—carry rargoL �arnpnoa <br /> ORANGE COUNTY <br /> 5C' rVORTH C/RC7LiNA <br /> 2 <br /> 3 <br /> 4 Slide #51 <br /> FY2024-34 Recommended Capital Investment Plan <br /> Scenario Now County New School One Time Tax Peak Debt Minimum 10 <br /> Title Funding Funding Rate Impact Service to Year Payout <br /> Revenue Ratio <br /> FY2024-34 $86 million $300 million band 8.88 rents 19.89% 591% <br /> Rec. CIP $100 million pay-go <br /> Breakdown of Projected Tax Increase <br /> School Bond 3 41 cents <br /> School Pay-as-You-Go 2.6B cents <br /> County Facilities 1.04 cents <br /> Balance afCIR 175 cents <br /> TOTAL 8.88 Dents <br /> Projected tax rate impact and the debt to genaraf fund revenue ratio are baser}on assumptions <br /> Sensitive to factors such as tax base growth and project timing' <br /> As the,tax Ease grows.each one cent on the tax rate generates more revenue <br /> If project implementation lags the tr eted implementation date,the taxes required to ORANGE COUNTY <br /> st pay forthat debt are also postponed NC)WFH C:e4RC3"r1JA <br /> 5 <br /> 6 Travis Myren said this is a projection based on where the county is today. He said it may <br /> 7 change because it's based on estimated project timing, property revaluations, etc. <br /> 8 Commissioner McKee said it's concerning that in 10 years the county will have nearly$80 <br /> 9 million in debt service. He said he is aware that the school projects are not options. He said that <br /> 10 equates to a third of their current budget. He said it is not a one-time tax rate, it is 8.8 cents for <br />