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9 <br /> 1 Slide #19 <br /> FY2022-23 RECOMMENDED BUDGET <br /> BU7,GET CA LENDA R <br /> Budget and CapdAl iavlesament Fdmwo2 <br /> 10&Juue 2 <br /> n 1 1 <br /> Schools and Outside�eincies <br /> Firc Distno,Pt blit jatcr:marl Hnu:au Srrvirc5 Mas 19 <br /> Durham Tcch,Support Scrs ices,Gctacral Gowriamcat and Nby 2fn <br /> Comnkkl utT Services <br /> B,arlvm Aninidnic-ias and RC`14.113o11 of Iutctat to Arlrkl)t ]Bare 9 <br /> I — <br /> FY2012-21 Operatiing and CIP Budgec Adopuou ju ne 21 <br /> i <br /> ORANGE COUNTY <br /> ItiOKTI I CAROLINA <br /> 2 <br /> 3 <br /> 4 Slide #20 <br /> FY2022-23 RECOMMENDED BUDGET <br /> MISSION STATEMENT <br /> Orange County exists to provide goverltmentatil services needed by our <br /> Residents or mandated by the State of Nortb Carolina. <br /> To provide these quality services efl7eiently,we must, <br /> ❑ Serve the Residents of 0nLnp;ti COU111t—Our Residents Gnrne First <br /> ❑ Depend can the energy,skills,.Incl dedication of all our employees.and <br /> volurueers, <br /> ❑ Treat all our Residents and Employees with fairness,respes: and <br /> understanding. <br /> l7rrirr v,174wino-Residers Come First <br /> ORANGE COUNTY <br /> NOR]']I%aRnLINA <br /> 5 <br /> 6 Commissioner Fowler asked for more information on Other Post-Employment Benefits <br /> 7 (OPEB). <br /> 8 Bonnie Hammersley said OPEB is the accumulation of retirement liabilities that the <br /> 9 county has to pay to county government retirees. She said that currently, the county has about <br /> 10 a $175 million liability. She said rating agencies ask how the county is doing with funding <br /> 11 liabilities. She said that currently, the county has about $7 million in a fund that goes towards <br /> 12 that liability. She said staff was working on putting together a plan that would reduce the <br /> 13 liability. <br /> 14 Commissioner Fowler asked if it is correct that the county has $7 million and that the <br /> 15 county is trying to get to $170 million. <br /> 16 Bonnie Hammersley said that the county will never get to $170 million. She said Orange <br /> 17 County is a "pay as you go" county for liabilities. She said that in the southeast it is not as <br /> 18 concerning as it is in places like Michigan. She said there are cities and counties that have <br /> 19 gone bankrupt and cannot pay retirements. She said as the county goes to rating agencies, it <br />