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2 <br /> FINANCIAL IMPACT: Based on current figures, Orange County would be due $3, 183,344 in <br /> reimbursements from the State next year. If the opportunity for implementation date for the one <br /> half-cent local government sales and use tax was moved up to August 1 , 2002, Orange County <br /> would expect to receive $2,695,339 from the new tax, with the State compensating the County <br /> for lost revenue in the amount of $488,005. If the County began implementing the tax later <br /> August 1 , then the $2,695,339 expected revenue would thereby decrease. <br /> RECOMMENDATION(S): The Manager recommends that the Board review the attached <br /> materials and consider approval of the attached resolution. <br />