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17 <br /> Name of Entity: ORANGE COUNTY State/Province: NC <br /> Reviewer ID V691 Document Number B9943171 <br /> Fiscal Year: 2020-2021 Record Number 156522003 <br /> Introduction and Overview <br /> Cl. Mandatory.- The document shall include a table of contents that makes it easier to locate information in the <br /> document.Proficient <br /> P1. The document should include a coherent statement of organization-wide, strategic goals and strategies that address <br /> long-term concerns and issues.Proficient, <br /> P2. The document should describe the entity's short-term factors that influence the decisions made in the development of <br /> the budget for the upcoming year.Proficient <br /> P3. Mandatory: The document shall include a budget message that articulates priorities and issues for the upcoming year. <br /> The message should describe significant changes in priorities from the current year and explain the factors that led to <br /> those changes. The message may take one of several forms (e.g., transmittal letter, budget summary .rection). Proficient, <br /> document includes sources and changes in revenue. <br /> C2. Mandatory: The document should provide an overview of significant budgetary items and trends. An overview <br /> should be presented within the budget document either in a separate section (e.g., executive summary)or integrated within <br /> the transmittal letter or as a separate budget-in-brief document.Proficient <br /> Financial Structure, Policy, and Process <br /> 01. Mandatory.- The document shall include an organization chart(s) for the entire entity. Proficient <br /> F1. The document should include and describe all funds that are subject to appropriation. Proficient <br /> 02. The document should provide narrative, tables, schedules, or matrices to show the relationship between functional <br /> units,major funds,and nonmajor funds in the aggregate. Proficient <br /> F2. The document shall explain the basis of budgeting for all funds, whether cash, modified accrual, or some other <br /> statutory basis. Proficient <br /> P4. Mandatory,.- The document should include a coherent statement of entity-wide long-term financial policies. <br /> Proficient <br /> P5. Mandatory.- The document shall describe the process for preparing, reviewing, and adopting the budget for the <br /> coming fiscal year.It also should describe the procedures for amending the budget after adoption. Proficient <br /> Financial Summaries <br /> F3. Mandatory: The document shall present a summary of major revenues and expenditures, as well as other financing <br /> sources and uses,to provide an overview of the total resources budgeted by the organization. Proficient, the use of <br /> charts provided an overview for the user of the document on expenditures and revenue. <br /> F4. Mandatory.- The document must include summaries of revenues and other financing sources, and of expenditures <br /> and other financing uses for the prior year actual,the current year budget and/or estimated current year actual,and the <br /> proposed budget year. Proficient, <br /> F5. Mandatory: The document shall include projected changes in fund balances, as defined by the entity in the <br /> document, for appropriated governmental funds included in the budget presentation (fund equity if no governmental <br /> funds are included in the document). Proficient <br /> F6. Mandatory.- The document shall describe major revenue sources,explain the underlying assumptions for the revenue <br /> estimates,and discuss significant revenue trends. Proficient <br /> 1 <br />