Orange County NC Website
Browse       Search
22 <br /> Travis Myren said that was correct. <br /> Vice-Chair Fowler said that in the past fiscal year, the Board chose not to do $10 million <br /> in pay-go funds, but did $500,000. She said in the original analysis for the bond funding, the debt <br /> service to general fund ratio was 19%. She noted that the ratio in slide #17 does not go that high <br /> and wanted to understand why. <br /> Kirk Vaughn said they are still projecting that they will use the $10 million in the CIP. He <br /> said it's not gone, but the revenues are projected to increase 3% each year and so the <br /> denominator is higher. <br /> Vice-Chair Fowler said the modeling is still assuming a pay-go contribution of$10 million. <br /> Kirk Vaughn said yes, it will be phased in. <br /> Vice-Chair Fowler said if the county doesn't do that then the numbers would look different. <br /> Kirk Vaughn said that was correct. <br /> 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-B14 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 rate <br /> $4 million increase in FY2027-28 <br /> �1 <br /> 18 ORoR ECOUNTY <br />