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24 <br />School District Additional Employees: The number of additional employees required <br />per school district based on the project development. <br />SECTION 4 - PROJECTED NET FISCAL IMPACT ON COUNTY <br />Tax Base: The tax base represents the increase in assessed property value expected <br />each year resulting from project development. The values shown are in $1,000's and <br />are derived from a formula which includes the number and sales price of homes, and <br />the assessment ratio. Where applicable, the percentage of non-elderly units and elderly <br />exemption are also-used. <br />Revenues: All revenues are derived from a formula which multiplies the per capita <br />revenues (Section 2) times the projected population (Section 3). The exception to this <br />is the property tax which multiplies the tax base times the county government tax rate. <br />Expendilfures: All expenditures are derived from a formula which multiplies the per <br />employee expenditure (Section 2) times the number of additional employees (Section <br />3). <br />Net Fiscal Impact: The net balance is the difference between projected expenditures <br />and projected revenues. A negative net balance indicates that it costs Orange County <br />more to provide services to a project than it receives in revenues. A positive net <br />balance indicates that more revenues are received than it costs to serve a project. <br />Positive net balances in one project may thus be used to offset negative balances in <br />another. <br />SECTION 5 - PROJECTED NET FISCAL IMPACT ON SCHOOL DISTRICT <br />Revenues: The County contribution is derived by transferring education expenditures <br />by County government (Section 4). Revenues derived from the school district tax are <br />derived by multiplying the school district tax times the tax base. State revenues are <br />derived by multiplying the per student expenditure figure times the total projected <br />number of school children (Section 3). <br />Expenditures: Expenditures are derived from a formula which multiplies each per <br />student expenditure (Section 2) times the total projected number of school children <br />(Section 3) and adding the results. <br />Net Fiscal Impact: The net balance is the difference between projected expenditures <br />and projected revenues. A negative net balance indicates that it costs the school <br />system more to provide educational services for children in a project than it receives in <br />revenues. A positive net balance indicates that more revenues are received than it <br />costs to serve a project. Positive net balances in one project may thus be used to offset <br />negative balances in another. <br />SECTION 6 - SUMMARY OF PROJECTED IMPACTS