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.Represents an increase of 8.8 cents over current rate of 95 cents <br /> ■One cent on property tax estimated to generate $1,271,729 <br /> .FY 2007-08 one cent equivalent = $1,247,881 <br /> Proposed Chapel Hill Carrboro City Schools District Tax Rate <br /> ■Recommended tax rate of 23 cents per$100 of assessed valuation <br /> .Covers the cost of opening new Morris Grove Elementary School and adding senior class at <br /> Carrboro High School <br /> .Represents an increase of 2.65 cents over current rate of 20.35 cents <br /> ■One cent on property tax estimated to generate $808,738 <br /> .FY 2007-08 one cent equivalent = $802,246 <br /> Education Funding <br /> Overview <br /> .402 new students projected to attend Chapel Hill Carrboro City and Orange County Schools <br /> next year <br /> .323 students in Chapel Hill Carrboro City Schools <br /> . 79 students in Orange County Schools <br /> .Brings total student membership for both districts to 18,932 <br /> .Total recommended funding for both School districts totals $91.2 million <br /> .48.5 percent of total General Fund appropriations <br /> .Increase of$6.8 million from fiscal year 2007-08 approved budget for operations, fair funding, <br /> debt service and capital <br /> .Per pupil allocation recommended at $3,256 <br /> .Increase of$187 from FY 2007-08 of$3,069 <br /> State Mandated Funding Formula General Fund Per Pupil Allocations to Each District <br /> CHCCS OCS Total <br /> Total Projected <br /> Students (including <br /> charter students) for <br /> Fiscal Year 2008-09 11,705 7,227 18,932 <br /> Multiplied by: <br /> Recommended <br /> County Per Pupil <br /> Allocation for FY 3,256 3,256 3,256 <br /> Equals: <br /> Recommended <br /> Current Expense <br />