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ORANGE COUNTY, NORTH CAROLINA <br />NOTES TO THE FINANCIAL STATEMENTS <br />FOR THE YEAR ENDED JUNE 30, 2012 <br />Assigned fund balance at June 30, 2012 is as follows: <br />Unassigned Fund Balance <br />Unassigned fund balance represents the portion of fund balance that has not been assigned to <br />another fund or is not restricted, committed, or assigned to specific purposes within the general <br />fund. <br />Orange County has a revenue spending policy that provides guidance for programs with multiple <br />revenue sources. The Finance Officer will use resources in the following order: bond/debt <br />proceeds, federal funds, State funds, local non-County funds, and County funds. For purposes of <br />fund balance classification, expenditures are to be spent from restricted fund balance first, <br />followed in-order by committed fund balance, assigned fund balance, and lastly, unassigned fund <br />balance. The Finance Officer has the authority to deviate from this policy if it is in the best <br />interest of the County with approval of the Manager and the Board of County Commissioners. <br />Orange County has also adopted a minimum fund balance policy for the General Fund which <br />instructs management to conduct the business of the County in such a manner that available fund <br />balance is at least equal or greater than 17% of budgeted expenditures. Any portion of the <br />General Fund balance in excess of 17% of budgeted expenditures may be appropriated for one- <br />time expenditures and may not be used for any purpose that would obligate the County in a future <br />budget. <br />The following schedule provides management and citizens with information on the portion of <br />General Fund balance that is available for appropriation. <br />41 <br /> <br />