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10 <br /> Long-Term Financial Model: Integration in Annual Operating Budget Formulation <br /> ➢ Financial Policies <br /> - Compliance with Board Adopted Fund Balance Policy <br /> - Education and Outside Agency Funding Targets <br /> - Use of Non-Recurring Revenue to One-Time Expenditures Only <br /> ➢ Capital and Debt Policies <br /> - Impact of Capital Investment Plan on Annual Operating Budget <br /> - Long-Term Debt Ratios; Debt Service as % of Budget and Total Debt to <br /> Assessed Value <br /> Long-Term Financial Forecast <br /> - Review of Historical Revenues and Expenditure Trends from FY 2003 to <br /> Update Five-Year Financial Forecast Model <br /> - Current Fiscal Year Estimates are basis for Budget Formulation <br /> - 2% CPI growth assumption for Expenditure Drivers <br /> Budget Formulation: Key Objectives <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 Commissioner <br /> Greene presented the GFOA plaque to the staff. <br /> Commissioner Dorosin referred to the slide that has the criteria, and asked if there is a <br /> reason that one section is blacked out. <br /> Gary Donaldson said that is just an excerpt. <br /> Commissioner Dorosin asked if the scores are present when this is received from the <br /> viewers. <br /> Gary Donaldson said yes. <br /> Commissioner Dorosin said he would like to see these scores in the future. <br /> d. Presentation of Manager's Recommended Fiscal Year 2019-20 Annual Operating <br /> Budget <br /> The Board received the Manager's Recommended FY 2019-20 Annual Operating <br /> Budget. <br /> BACKGROUND: <br /> Each year during the month of May, the County Manager presents the Board of County <br /> Commissioners with a recommended spending plan for the next fiscal year. The Board of <br /> County Commissioners and County staff have held work sessions, as well as the BOCC <br /> Retreat, over the past nine months to discuss various issues and projects that guided the <br /> recommendations related to the County's FY 2019-20 Budget. During the meeting, the Manager <br /> will provide a brief presentation of the Recommended FY 2019-20 Annual Operating Budget. <br /> The Board of County Commissioners will conduct two Budget Public Hearings — the first at 7:00 <br /> p.m. on Tuesday, May 14, 2019 at the Richard Whitted Meeting Facility, 300 West Tryon Street <br /> in Hillsborough, and the second at 7:00 p.m. on Thursday, May 16, 2019 at the Southern <br /> Human Services Center, 2501 Homestead Road in Chapel Hill. <br /> Bonnie Hammersley made the following PowerPoint presentation: <br /> FY2019-20 <br /> COUNTY MANAGER RECOMMENDED BUDGET <br />