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DocuSign Envelope ID:4F676C90-21 E4-4097-A8AC-0087D34EB01 3 <br /> MOWOCNC shows a significant surplus for 2019-2020. MOWOCNC formed at the end of June 2020 with the merger of <br /> Orange County Rural Alliance into Chapel Hill Carrboro Meals on Wheels. Exepnses for OCRA prior to June 2020 do <br /> not appear in this budget breakdown. When OCRA closed, $92,000 of funds were granted to MOWOCNC. The <br /> remaining surplus of$257,755 was from COVID emergency funding grants through Meals on Wheels America and other <br /> granting agencies as well as individual donations. The surplus has been used to increase our reserves to meet stated <br /> guidelines of 6 months of annual operation expenses (reserves that had been depleted by previous deficits)to bring us <br /> in compliance with our bylaws. The remiaining surplus of approximately $179,755 will fund projected budget deficits in <br /> 2021 and 2022 (based on our increased service levels (#of meals delivered), average number of years recipients <br /> receive service, and the expected loss of significant COVID relief funding). <br /> FY 2021-22 Agency Budget <br />