ORD-2022-019-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 HilkCarrboro 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