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14 <br /> Bonnie Hammersley, County Manager, made the following presentation: <br /> Slide #1 <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> FY2022-23 <br /> C OUNTY MANAGE R <br /> RECOMMENDED BUDGET <br /> May 3,2022 <br /> BOCC Business Meeting <br /> Bonnie Hammersley said under state law, she is required to present an annual balanced <br /> budget to the Board. She said the presentation is a high level overview of the recommended <br /> budget and that more details are in the transmittal letter of the recommended budget. She said <br /> it is a comprehensive summary of the budget that covers all of the changes from previous <br /> years' budgets. <br /> Slide #2 <br /> FY2022-23 RECOMMENDED BUDGET <br /> BUDGET PRIDRIT'IES <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 /> WFrr]I CAROLINA <br /> Bonnie Hammersley said that a structurally balanced budget philosophy is matching <br /> recurring revenues to meet costs to continue operating expenses. She reviewed the budget <br /> priorities listed on slide #2. She said long-term planning goals include reducing the reliance on <br /> fund balance appropriation to ensure compliance with the county's 16% reserve policy. She <br /> said the FY 2022-23 recommended FB appropriation is $2.5 million and that this is a <br /> manageable level of fund balance that assists with balancing the annual budget while <br /> maintaining 16% of expenditures in line with financial best practice levels. <br />