Orange County NC Website
Browse       Search
32 <br /> 1 Slide #55 <br /> Article 46 — page 76 <br /> — Total Projected Collections_$6,391,998 <br /> • Flat to FY 24-25 <br /> Due to large refund and declining growth,Article 46 revenues may miss budget by up to$200k <br /> • Fund is driven by single revenue source,susceptible to economic contraction <br /> Split between Economic Development and Education <br /> Economic Development-$3,195,999 <br /> • Education-$3,195,999 <br /> Education allocation determined by average daily membership less Charter students <br /> • Chapel Hill-Carrboro City Schools-$1,960,745 <br /> Orange County Schools-$1,236,264 <br /> ORANGE COUNTY <br /> 55 NORTH CAROLINA <br /> 2 <br /> 3 Kirk Vaughn, Budget Director, began presenting here. He explained that the next few <br /> 4 slides are included for information due to a couple of commissioner amendments that have been <br /> 5 submitted. <br /> 6 <br /> 7 Slide #56 <br /> Article 46 Sales Tax — page 76 <br /> Expenditure Category Amount Notes <br /> Debt service on infrastructure $1,009.605 Actual projected debt service <br /> Incentives $577,921 New funding for Incentives <br /> Piedmont Food and Agricultural Processing Center Audlt $10,000 Additional funding for audit <br /> Agricultural Grants $165,376 $7,875 Increase from FY2024-25 <br /> Business Investment Grants $181.913 $8,663 Increase form M024-25 <br /> Agricultural Summit $6,000 Operating costs to host annual summit <br /> Breeze Farm Contribution $15,000 Same as FY2024-25 <br /> Durham Tech Promise Scholarships $200,000 Same as FY2024-25 <br /> Durham Tech Back to Work Initiative $100,000 Same as FY2024.25 <br /> Economic Development Department Budget for FY25-26 $458,060 Operating Costs for Department <br /> Indirect Costs Associated with Economic Development Department $165,963 $26,164 higher than FY2024-25 <br /> Chamber Dues $14,360 Dues to Chapel Hill Carrboro Chamber <br /> ORANGE COUNTY <br /> 56 NC7RTI I C:ARC)I.INA <br /> 8 <br /> 9 Kirk Vaughn said slide #56 shows the programs that are funded within the Economic <br /> 10 Development portion of Article 46 funding. <br />