Orange County NC Website
Browse       Search
32 <br /> 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 Hiil-Carrboro City Schools-$1,960,745 <br /> • Orange County Schools-$1,235,254 <br /> ORANGE COUNTY <br /> 55 NORTH CAROLINA <br /> Kirk Vaughn, Budget Director, began presenting here. He explained that the next few <br /> slides are included for information due to a couple of commissioner amendments that have been <br /> submitted. <br /> 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 Audit $10,000 Additional funding for audit <br /> Agricultural Grants $165,375 $7,875 increase from FY2024-25 <br /> Business Investment Grants $181,913 $8,663 increase form FY2024-25 <br /> Agricultural Summit $6,000 Operating costs to host annual summit <br /> Breeze Farm Contribution $16,000 Some as FY2024-25 <br /> Durham Tech Promise Scholarships $200,000 Some as FY2024-25 <br /> Durham Tech Back to Work Initiative $100,000 Some as FY2024-25 <br /> Economic Development Department Budget for FY26-26 $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 NORTH CAROLINA <br /> Kirk Vaughn said slide #56 shows the programs that are funded within the Economic <br /> Development portion of Article 46 funding. <br />