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26 <br /> FY 2019-20 General Fund Summary Results <br /> Original Amendments Final Actual Variance <br /> Revenues $ 225,181,824 $ 5,021,220 $ 230,207,044 $ 228,292,446 $ (1,914,598) -0.8% <br /> Expenditures 229,128,780 7,856,279 236,985,059 226,843,988 10,141,071 4.3% <br /> Net Transfers (3,865,050) 1,380,712 (2,484,338) 389,934 2,874,272 <br /> Net Change $ (7,808,006) $ 1,454,347 $ (9,262,353) $ 1,838,392 $ 11,100,745 <br /> ➢ Revenue exceeded Expenditures by $1.8 million; 228.2 million in revenues compared to $226.8 million. <br /> The revenues and expenditures above excludes transfers in and out; <br /> ➢ General Fund actual revenues were .8% less than the amended budget. The final budget reflects the <br /> addition of Round 1 CARES Act Funding (only $1.3M of the $2.6M in the Actual Revenues) which the <br /> accounting standard requires to remain as deferred revenue until spent; <br /> ➢ General Fund actual expenditures were 4.3% below the amended budget; attributed to salary savings and <br /> curtailment of discretionary operational spending; <br /> ➢ No use of appropriated fund balance was necessary; revenues exceeded expenditures for third <br /> consecutive fiscal year; <br /> ➢ General Fund major transfers to Affordable Housing Fund (Section 8), County Capital Projects and <br /> School Capital Projects <br /> L <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />