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22 <br /> 1 Travis Myren said that was correct. <br /> 2 Vice-Chair Fowler said that in the past fiscal year, the Board chose not to do $10 million <br /> 3 in pay-go funds, but did $500,000. She said in the original analysis for the bond funding, the debt <br /> 4 service to general fund ratio was 19%. She noted that the ratio in slide#17 does not go that high <br /> 5 and wanted to understand why. <br /> 6 Kirk Vaughn said they are still projecting that they will use the $10 million in the CIP. He <br /> 7 said it's not gone, but the revenues are projected to increase 3% each year and so the <br /> 8 denominator is higher. <br /> 9 Vice-Chair Fowler said the modeling is still assuming a pay-go contribution of$10 million. <br /> 10 Kirk Vaughn said yes, it will be phased in. <br /> 11 Vice-Chair Fowler said if the county doesn't do that then the numbers would look different. <br /> 12 Kirk Vaughn said that was correct. <br /> 13 <br /> 14 Slide #18 <br /> FY 2026-27 Expenditure Budget <br /> Education Spending <br /> Modeling a 3% increase in current expense - $3.3 million <br /> Debt service will increase based on increased borrowing in FY2025-26 - $3.3 million <br /> Pay-Go phase-in contemplated in Board amendment CIP-814 that limited Pay-Go to$500,000 in <br /> FY2025-26 <br /> $5.5 million increase in FY2026-27-1.6 cent equivalent on tax rale <br /> $4 million increase in FY2027-28 <br /> ORANGE COUNTY <br /> 18 NC)R-rI-1 C:ARCH INA <br /> 15 <br /> 16 <br /> 17 <br /> 18 <br />