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19 <br /> Rating Factor Weighting <br /> Economy/Tax Base 300/0 <br /> Tax Base Size (full value) 10% <br /> Full Value per Capita 10% <br /> Wealth (median family income) 10% <br /> Finances 30% <br /> Fund Balance (% of Revenues) 10% <br /> Fund Balance Trend (5-Yr Change) 5% <br /> Cash Balance Hof Revenues) 10% <br /> Cash Balance Trend 5-Yr Change) 5% <br /> Management 20% <br /> Institutional Framework 10% <br /> Operating History 10% <br /> Debt/Pensions 20% <br /> Debt to Full Value 5% <br /> Debt to Revenue 5% <br /> Moody's adjusted Net Pension Liability 5% <br /> ( -Yr average) to Full Value <br /> Moody's adjusted Net Pension Liability 5% <br /> (3-Yr average) to Revenue <br /> Best Practice Unassigned Fund Balance <br /> ➢ In Summary <br /> • GFOA Recommends Unassigned Fund Balance at 2 Months of Expenditures or <br /> 16.7% <br /> • North Carolina AAA Rated County Peers Maintain at Least 2 Months; one <br /> exception <br /> • Strong Fund Balance provides Financial Bridge in Recession and Emergencies <br /> Questions <br /> Bonnie Hammersley said she put this item on the agenda because the audit had not <br /> been completed the last time this topic was discussed. She said this was the first available <br /> time to add it to an agenda, since the completion of the audit. She said this is the Board of <br /> County Commissioners' policy and should be defined as such. <br /> Commissioner Marcoplos asked if the fund balance was dipped into during the <br /> recession. <br /> Bonnie Hammersley said she was not in Orange County at that time, but there was <br /> minimal use of the fund balance prior to 2013-2014. She said $5 million was put into the <br /> budget in FY 2013-14 as a source of on going expenditures, and the same for 2015. <br />