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14 <br /> 1 Bonnie Hammersley, County Manager, made the following presentation: <br /> 2 <br /> 3 Slide #1 <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> FY2022-23 <br /> COUNTY MANAGED <br /> RECOMMENDED BUDGET <br /> May 3,2022 <br /> BOCC Business Meeting <br /> 4 <br /> 5 Bonnie Hammersley said under state law, she is required to present an annual balanced <br /> 6 budget to the Board. She said the presentation is a high level overview of the recommended <br /> 7 budget and that more details are in the transmittal letter of the recommended budget. She said <br /> 8 it is a comprehensive summary of the budget that covers all of the changes from previous years' <br /> 9 budgets. <br /> 10 <br /> 11 Slide #2 <br /> FY2022-23 RECOMMENDED BUDGET <br /> BUDGET PRIORITIES <br /> Structurally Balanced Budget <br /> Maintain funding of the Social Safety net services <br /> Increase Public Safety and Education Investments <br /> Retain and Recruit Employees <br /> • Long-Term Financial Planning <br /> ORANGE COUNTY <br /> 12 NORTI I CAROLINA <br /> 13 Bonnie Hammersley said that a structurally balanced budget philosophy is matching <br /> 14 recurring revenues to meet costs to continue operating expenses. She reviewed the budget <br /> 15 priorities listed on slide #2. She said long-term planning goals include reducing the reliance on <br /> 16 fund balance appropriation to ensure compliance with the county's 16% reserve policy. She <br /> 17 said the FY 2022-23 recommended FB appropriation is $2.5 million and that this is a <br /> 18 manageable level of fund balance that assists with balancing the annual budget while <br /> 19 maintaining 16% of expenditures in line with financial best practice levels. <br /> 20 <br /> 21 <br />