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9 <br /> Slide #19 <br /> FY2022-23 RECOMMENDED BUDGET <br /> BUDGET CALENDAR <br /> Budges and CapitalfnyesttnetvtP9an(C_ 11Nr lU C Julie 2 <br /> Schools aad oxus de heltcies list* <br /> f 1rc I]istrict,P.11tlic Saf[ts and i Itunnu ScrciccsI 19 <br /> L]tuitam Tech,Support S[n uxs,G[ncral Cmzrvmcltt and lSar <br /> �4trll71llLllC�.][rC 1CG5 <br /> ...... .............. ... <br /> $;iflgptt,�]llfi djim� ts[10f1 Rc=n1Ut1O1;Of I11 Ct]:t Cn.�fln15[ iU]:C 9 <br /> FI•_N"- Opemtir_?and CIP$ud�et_kd0VE4JL1 10he 31 <br /> ORANGE COUNTY <br /> NORT7 L CAROLINA <br /> Slide #20 <br /> FY2022-23 RECOMMENDED BUDGET <br /> MISSION STATEMENT <br /> Otange County exists to provide governmental senices neededhy out <br /> Residents or mandated by the State of North Catolina. <br /> To pro6de these quality semces efficiently we must, <br /> ❑ Serve the Residents of Orange County—Our Residents Come First: <br /> ❑ Depend on the energy,skills,and dedication of all our employees and <br /> volunteers; <br /> ❑ Treat all our Residents and Employees with fairness,respect,and <br /> urldersGlnding. <br /> Die CoLnCE Residents Come First <br /> ORANGE COUNTY <br /> []ORT]L CAROLINA <br /> Commissioner Fowler asked for more information on Other Post-Employment Benefits <br /> (OPEB). <br /> Bonnie Hammersley said OPEB is the accumulation of retirement liabilities that the <br /> county has to pay to county government retirees. She said that currently, the county has about <br /> a $175 million liability. She said rating agencies ask how the county is doing with funding <br /> liabilities. She said that currently, the county has about $7 million in a fund that goes towards <br /> that liability. She said staff was working on putting together a plan that would reduce the <br /> liability. <br /> Commissioner Fowler asked if it is correct that the county has $7 million and that the <br /> county is trying to get to $170 million. <br /> Bonnie Hammersley said that the county will never get to $170 million. She said Orange <br /> County is a "pay as you go" county for liabilities. She said that in the southeast it is not as <br /> concerning as it is in places like Michigan. She said there are cities and counties that have <br /> gone bankrupt and cannot pay retirements. She said as the county goes to rating agencies, it <br />