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3 <br /> 1 Travis Myren first presented all of the following slides, then the Board reviewed and <br /> 2 discussed each individually a second time. <br /> 3 <br /> 4 Slide #4 <br /> Or%erating Budget Amendments <br /> 22 CrP-OUa <br /> 1 umnmNunerBP-*rrj Edumhm YGrOMOM Khuol Yatrim eperawo 390.000 <br /> � Purligel0 5500,000 00"detreee-CPE9 <br /> I Thum irk VxJWby tne acme omokO <br /> 2,30P-004 rCarrrringanerB€+i'ard OPEB TnNI BhrraletanYer eul a[C* erelFundb <br /> COE6 Truax.fund ku VEM elael rife Y.r <br /> schaob twea eWxyple hudpl <br /> ORANGE COUNTY <br /> NOWn e CAROLLra <br /> 5 <br /> 6 Commissioner Bedford said that Commissioner Richards was on the way and requested <br /> 7 that the Board move on without her. <br /> 8 Commissioner Bedford referred to a chart she sent to the Board calculating the per pupil <br /> 9 expense increase. She said that Chapel Hill Carrboro City Schools has a large fund balance, <br /> 10 but Orange County Schools does not. She said the County Manager's proposed increase of <br /> 11 $441 per student would result in an additional $3.5 million for Orange County Schools. She <br /> 12 said that the continuation budget requires $1.1 million, so that means the increase for new and <br /> 13 expanded items is $2.4 million. She said that Orange County Schools and Chapel Hill Carrboro <br /> 14 City Schools are two of the highest funded districts in the state, but they remain below the <br /> 15 national average. She said teachers have the biggest impact on students, and having high <br /> 16 vacancies of teachers in the schools is an issue. She said she brought forth budget <br /> 17 amendments to make a difference for Orange County Schools. She said both districts have <br /> 18 asked for increased compensation for staff. She reviewed the compensation request from the <br /> 19 districts and said that those did not include possible increases required due to increased <br /> 20 funding from the General Assembly. She said 1 cent on the property tax that would go solely to <br /> 21 schools would result in $911,000 going to Orange County Schools. She referred to a chart she <br /> 22 sent to the Board regarding Other Postemployment Benefits (OPEB) liability. She said the trust <br /> 23 fund was first funded in 2016. She said that OPEB funds have been moved to school funding <br /> 24 before. She said this is sensitive to the assumptions about interest rates. She said it is difficult <br /> 25 to predict. She said that the biggest drawback to putting funds in an OPEB Trust Fund is that it <br /> 26 can't be taken back later. She said they could expect those expenditures will increase but when <br /> 27 you look at the ratios across the country, they have liability to revenue of three and Orange <br /> 28 County's is only .53. She said that is a big difference. She said that this is well within their ability <br />