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3 <br /> Background <br /> 0 2017- Long Term Operating Model <br /> — Operating Model first used for FY 2018-19 Budget Development <br /> — Resource and modeling tool to determine Revenue and <br /> Expenditures under various economic conditions and scenarios <br /> — Guided County through COVID Recession <br /> — Maintained Unassigned Fund Balance Levels at 16% Policy <br /> 2018-Long Term Debt Model <br /> — Used to determine required tax rates to support Referendum <br /> Debt and other Capital Investment Plan projects <br /> — Integrates key Operating Model factors and policies; Assessed <br /> Valuation (Tax Base) Growth, Value of One Penny, Debt Service <br /> as Percentage of Revenues, Total Tax-Supported Debt as <br /> Percentage of Assessed Value <br /> — Sensitivity Analyses Functionality <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />