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10 <br /> 1 helps to show that you are you paying attention to the liability. She said this is a new GASB rule <br /> 2 that started before 2009, right after the Enron situation. She said governments began thinking <br /> 3 "what if that happens in the public sector?" She said the GASB rule said governments had to <br /> 4 show liabilities on the balance sheet. <br /> 5 Commissioner Fowler clarified that this is not an insurance plan, but money set aside to <br /> 6 pay the liability. <br /> 7 Bonnie Hammersley said no. She said the issue is that once you put it in the trust, you <br /> 8 cannot take it out. She said it is a best practice, but you can only use it when you need it. She <br /> 9 said when you need it would be a troublesome time. <br /> 10 Commissioner Fowler asked for clarification. <br /> 11 Bonnie Hammersley said that it would mean that the county did not have money to pay <br /> 12 retirement liabilities, and the trust would be used in that scenario. <br /> 13 Commissioner Fowler asked for clarification of what the retirement fund covers. <br /> 14 Bonnie Hammersley said that the post-employment benefits are health insurance for <br /> 15 county retirees. <br /> 16 Commissioner Fowler asked for clarification of the health insurance retirement fund. <br /> 17 Bonnie Hammersley said health insurance is budgeted and paid for as "pay as you go." <br /> 18 She said the county pays for it every year. She said that there is an actuarial looks at average <br /> 19 age and how long until retirement for all employees. She said it is not as big of a concern in the <br /> 20 southeast, but in other parts of the country it is more of a concern. <br /> 21 Commissioner McKee said he would like to know how much the liability has grown. <br /> 22 Bonnie Hammersley said one of the things done during the recession to reduce the <br /> 23 liability was to increase the number of years an employee had to work to receive health benefits, <br /> 24 from 10 to 20 years. She said staff would bring more information about the issue to the Board. <br /> 25 <br /> 26 <br /> 27 3. Public Comments <br /> 28 <br /> 29 The Board held a public hearing to receive comments on the FY23 recommended <br /> 30 budget. <br /> 31 <br /> 32 Chair Price asked the Clerk to the Board if anyone had signed up to speak at the Chapel <br /> 33 Hill public comment satellite location. <br /> 34 <br /> 35 Laura Jensen, Clerk to the Board, said no. <br /> 36 <br /> 37 A motion was made by Commissioner McKee and seconded by Commissioner Fowler to <br /> 38 open the public hearing. <br /> 39 <br /> 40 VOTE: UNANIMOUS <br /> 41 <br /> 42 PUBLIC COMMENTS: <br /> 43 <br /> 44 Joe Bumgarner with OE enterprises and the assistant chief at Caldwell Fire Department. <br /> 45 He thanked Manager and the outside agency volunteers for including funding for OE <br /> 46 Enterprises in the 22/23 FY budget. He said that those funds will be used to help those with <br /> 47 disabilities to find outside employment. He said that Orange County is a leader in helping <br /> 48 community members with disabilities live, work and thrive in the community. He said that he <br /> 49 hopes the commissioners will support the funding. <br />