Agenda - 06-21-2022; 6-a - Approval of Fiscal Year 2022-23 Budget Ordinances and County Fee Schedule

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15 following adoption of the budget in order to properly fund salary and benefit amounts within departments. Section X. Internal Service Fund - Health and Dental Insurance Fund The Health and Dental Insurance Fund accounts for receipts of premium payments from the County and its employees, employees for their dependents, all retirees and the payment of employee and retiree claims and administration expenses. Projected receipts and fund reserves from the County and employees for fiscal year 2022-23 will be $15,395,128, and projected expenses for claims and administration for fiscal year 2022- 23 will be $15,395,128. Section XI. Other Post Employment Benefits Fund Orange County, North Carolina Other Post-Employment Benefits (OPEB) Investment and Funding Policy • Each fiscal year the County funds its OPEB benefits coming due to current retires on a pay-as—you-go (PAYGO) basis from the Health and Dental Fund. • The County recognizes that by setting additional funds from the PAYGO amounts now to pay future benefits, the County can pay a portion of those future benefits from investment earnings on those funds. • Thus the County will fund the North Carolina Treasurer's irrevocable OPEB Trust up to $500,000 each fiscal year. • The County intends to make investments consistent with the long-term nature of assets set aside for payment of OPEB benefits. The County will invest funds through the NC Treasurer's Office in Equites, Long-term Bonds and other investments as authorized by North Carolina General Statutes 147-69.2(b5). • The Finance Officer will regularly evaluate the appropriate allocation of such OPEB investments between Equities, Long-term Bonds and Shorter-term investments and make adjustments as necessary. Section XII. Custodial Funds Custodial Funds are used to report any fiduciary activities not reported in Investment Trust or Private-Purpose Trust Funds. In North Carolina, examples of Custodial Funds are the Jail Inmate Fund, and the property taxes collected by the County on behalf of a municipality (the Chapel Hill-Carrboro City Schools District Tax Fund). Section XIII. Encumbrances Operating funds encumbered by the County as of June 30, 2022 are hereby reappropriated to this budget. Section XIV. Capital Projects & Grants Fund The County Capital Improvements Fund, Schools Capital Improvements Fund, Proprietary Capital Funds, and the Grant Projects Fund are hereby authorized. Appropriations made for the specific projects or grants in these funds are hereby appropriated until the project or grant is complete. a. The County Capital Projects Fund FY 2022-23 budget, with anticipated fund revenues of $10,854,009 and project expenditures of $10,854,009 is hereby adopted in accordance with G.S. 159 by Orange County for the fiscal year beginning July 1, 2022, and ending June 30, 2023, and the same is adopted by project. 9