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3 <br /> a. Distinguished Budget Presentation Award <br /> The Board recognized the budget staff of the Orange County Finance and <br /> Administrative Services Department for earning the Government Finance Officers' Association <br /> (GFOA) Distinguished Budget Presentation Award for the 2016-17 fiscal year budget <br /> document. <br /> BACKGROUND: <br /> GFOA is an internationally recognized organization that offers guidance and support to local <br /> and state government budget and finance professionals throughout the United States and <br /> Canada. The GFOA's Distinguished Budget Presentation Award is the highest form of <br /> recognition in governmental budgeting and represents a significant achievement by the <br /> organization. Its attainment represents a major achievement by a governmental entity and its <br /> budget team. In order to receive this award, the County's budget and capital planning <br /> documents must meet stringent program criteria such as policy documents, operations guides, <br /> financial plans, and communications devices. <br /> This year marks the twenty-fifth year that Orange County has received the GFOA <br /> Distinguished Budget Presentation Award. Eligibility standards and expectations for the award <br /> become more stringent and rigorous each year. The County commends the budget staff for <br /> their ability to consistently achieve the high standards required to receive this esteemed award. <br /> Gary Donaldson, Chief Financial Officer, recognized his budget and finance staff, and <br /> asked them to come forward and receive this award. <br /> The Board recognized the budget staff of the Finance and Administrative Services <br /> Department for the receipt of the GFOA Distinguished Budget Award and presented the GFOA <br /> plaque to them. <br /> b. Presentation of Manager's Recommended Fiscal Year 2017-18 Annual Operating <br /> Budget and FY 2017-22 Capital Investment Plan <br /> The Board received the Manager's Recommended FY 2017-18 Annual Operating <br /> Budget and 2017-22 Capital Investment Plan. <br /> Bonnie Hammersley made the following PowerPoint presentation: <br /> ORANGE COUNTY FY2017-18 COUNTY MANAGER RECOMMENDED BUDGET <br /> FY2017-18 orange county budget <br /> County Manager Recommendation <br /> • Expenditures — Revenues -Tax Rate <br /> • Assumptions <br /> • Initiatives <br /> • School Funding <br /> • Outside Agencies <br /> • Fire Districts <br /> FY2017-18 recommended budget <br /> 2017 TAX YEAR REVALUATION <br /> ■ The revaluation resulted in a 6.5% increase in real property value, increasing the <br /> property tax base by over$1 billion to $16.8 billion. <br />