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DocuSign Envelope ID:8DE9B5E5-C69D-4B5B-8F91-9984D8F6E6CD 13 <br /> o If the County Commissioner has served two or more full terms in office <br /> (eight years or more), the County makes the same contribution for health <br /> insurance coverage that it makes for an employee who retires from <br /> Orange County after 20 years of consecutive County service as a <br /> permanent employee. If the Commissioner is age 65 or older, Medicare <br /> becomes the primary insurer and group health insurance ends. The <br /> County makes the same contribution for Medicare Supplement coverage <br /> that it makes for a retired County employee with 20 years of service. <br /> o Annual compensation for Commissioners will include a County <br /> contribution for each Commissioner to the Deferred Compensation (457) <br /> Supplemental Retirement Plan that is the same as the County <br /> contribution for non-law enforcement County employees in the State 401 <br /> (k) plan. For fiscal year 2020-21, the approved budget continues the <br /> County contribution of $27.50 per pay period and a County contribution <br /> match of up to $63.00 semi-monthly. <br /> Section IX. Budget Control <br /> General Statutes of the State of North Carolina provide for budgetary control measures <br /> to exist between a county and public school system. The statute provides: <br /> Per General Statute 115C-429: <br /> (c) The Board of County Commissioners shall have full authority to call for, and <br /> the Board of Education shall have the duty to make available to the Board of <br /> County Commissioners, upon request, all books, records, audit reports, and <br /> other information bearing on the financial operation of the local school <br /> administrative unit. <br /> The Board of Commissioners hereby directs the following measures for budget <br /> administration and review: <br /> That upon adoption, each Board of Education will supply to the Board of County <br /> Commissioners a detailed report of the budget showing all appropriations by <br /> function and purpose, specifically to include funding increases and new program <br /> funding. The Board of Education will provide to the Board of County <br /> Commissioners a copy of the annual audit, monthly financial reports, copies of all <br /> budget amendments showing disbursements and use of local moneys granted to <br /> the Board of Education by the Board of Commissioners. <br /> The Board of Commissioners hereby approves the following financial policies: <br /> • The County will not initiate any capital funding until October 1, 2020, and pending <br /> a review of the first quarter financial report, with the exception of County <br /> appropriations to the school districts and any other County Manager exceptions. <br /> • The County will initiate measures to recoup sales tax proceeds on school capital <br /> projects through the conveyance of school property to the County with the school <br /> property reverting back to the school districts at the end of the construction <br /> period. <br /> • The County will ensure that all monthly general ledger postings occur by the 10t" <br /> work day of each month. <br /> • The County will ensure that monthly financial reports are available by the 15tn <br /> work day of each month. <br /> • The County will not issue debt for a project until a bid award date and <br /> construction start date is established. <br /> 6 <br />