Orange County NC Website
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04-05 $2,623 $57 2.22% <br /> 05-06 $2,796 _ $173 6.60% <br /> 06-07 $2,957 $161 5.76% <br /> 07-08 $3,069 $112 3.79% <br /> 08-09 Recommended $3,256 $187 6.09% <br /> Construction and Renovation of Schools and County Facilities Has Required County to <br /> Borrow Money <br /> - Since 1988, Commissioners have authorized $325 million in debt <br /> - Examples of Debt Funded Projects <br /> o Construction of New Schools and Renovations of Older Schools <br /> • Chapel Hill-Carrboro City Schools <br /> • New Schools — Morris Grove Elementary, Carrboro High, Rashkis <br /> Elementary, Scroggs Elementary, McDougle Middle, McDougle <br /> Elementary <br /> • Orange County Schools <br /> • New Schools— Cedar Ridge High, Pathways Elementary, New <br /> Hope Elementary, Gravelly Hill Middle <br /> - New County Parks <br /> o Efland Cheeks, Fairview, Northern <br /> - New County Buildings <br /> o Southern Human Services, Link Center, The Office and Library <br /> - Partner Projects <br /> o Homestead Aquatics Center, Southern Community Park <br /> Cost of Repaying School and County Related Debt <br /> - General Fund debt service in FY 2008-09 totals $26.1 million <br /> o 75% of total repays school related debt and 25% repays county related debt <br /> o Equivalent of 20.5 cents on tax rate <br /> o Includes $5 million for repayment of 2001 voter approved bonds <br /> • Equivalent of 3.9 cents on 2008-09 Tax Rate <br /> - Funding level for FY 2008-09 is $2 million more than current fiscal year or the equivalent <br /> of 1.6 cents on tax rate <br /> o $1.2 million for school-related projects <br /> o $800,000 for county related projects <br /> Additional Major Budget Elements <br /> .Full year of operations for Orange County Campus of Durham Technical Community College <br /> .Eleven new County facilities coming on line next fiscal year <br /> .Need for certain facilities such as Animal Services Facility and new space for Department of <br /> Social Services created by circumstances beyond County's control <br /> .Examples include parks, County Campus and Library, Animal Services Facility, and Justice <br /> Facility <br /> .Costs to staff and operate these new facilities $3 million next fiscal year <br />