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3 <br /> Travis Myren first presented all of the following slides, then the Board reviewed and <br /> discussed each individually a second time. <br /> Slide #4 <br /> Operating Budget Amendments <br /> h <br /> 22-2 OP-00A G4R+n45�4ne�B9df4�d dv r a9"R hpoldi r w oPer - 8500.UU4 <br /> hdgelo 15H,DDG.HaWd&U83 0PE9 <br /> Ir rwVdm4Wby'the aemeemant <br /> 2-230FLN4 onwh%&nerBeArd DPEB Thai Bhhh Vanger W or Gemal Furidb i5-ID000 <br /> OPE9 Trust fund r:+.r�Ob UW rr-reae b <br /> arnent eg*me hddgel <br /> ORANGE COUNTY <br /> NORT]r CAR-011N,7 <br /> Commissioner Bedford said that Commissioner Richards was on the way and requested <br /> that the Board move on without her. <br /> Commissioner Bedford referred to a chart she sent to the Board calculating the per pupil <br /> expense increase. She said that Chapel Hill Carrboro City Schools has a large fund balance, <br /> but Orange County Schools does not. She said the County Manager's proposed increase of <br /> $441 per student would result in an additional $3.5 million for Orange County Schools. She <br /> said that the continuation budget requires $1.1 million, so that means the increase for new and <br /> expanded items is $2.4 million. She said that Orange County Schools and Chapel Hill Carrboro <br /> City Schools are two of the highest funded districts in the state, but they remain below the <br /> national average. She said teachers have the biggest impact on students, and having high <br /> vacancies of teachers in the schools is an issue. She said she brought forth budget <br /> amendments to make a difference for Orange County Schools. She said both districts have <br /> asked for increased compensation for staff. She reviewed the compensation request from the <br /> districts and said that those did not include possible increases required due to increased <br /> funding from the General Assembly. She said 1 cent on the property tax that would go solely to <br /> schools would result in $911,000 going to Orange County Schools. She referred to a chart she <br /> sent to the Board regarding Other Postemployment Benefits (OPEB) liability. She said the trust <br /> fund was first funded in 2016. She said that OPEB funds have been moved to school funding <br /> before. She said this is sensitive to the assumptions about interest rates. She said it is difficult <br /> to predict. She said that the biggest drawback to putting funds in an OPEB Trust Fund is that it <br /> can't be taken back later. She said they could expect those expenditures will increase but when <br /> you look at the ratios across the country, they have liability to revenue of three and Orange <br /> County's is only .53. She said that is a big difference. She said that this is well within their ability <br />