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14 <br /> Travis Myren said pending the Board's action, the Ad Valorem Tax Rate would become <br /> 83.53 cents per $100 of assessed value. <br /> Commissioner Richards asked what the change was between the County Manager's <br /> recommended tax rate increase and what the increase is after the budget amendments. <br /> Travis Myren said the increase was .46 cents and will now be .41 cents. <br /> 5. Break(to allow Budget staff to formulate the Draft Resolution of Intent to Adopt FY 2023- <br /> 24 Operating Budget) <br /> A motion was made by Chair Bedford, seconded by Commissioner Fowler, to recess the <br /> meeting for 12 minutes. <br /> VOTE: UNANIMOUS <br /> A motion was made by Commissioner Hamilton, seconded by Commissioner Fowler, to <br /> reconvene the meeting at 8:21 p.m. <br /> VOTE: UNANIMOUS <br /> 6. Resolution of Intent to Adopt FY 2023-24 Annual Operating Budget <br /> • Approval of Resolution of Intent to Adopt FY 2023-24 Annual Operating Budget at the <br /> Board of County Commissioners Regular Meeting on June 20, 2023 <br /> Kirk Vaughn, Budget Director, reviewed the following resolution: <br /> Resolution of Intent to Adopt the FY2023-24 <br /> Orange County Budget <br /> The items outlined below summarize decisions that the Board acted upon June 8, 2023 in <br /> approving the FY2023-24 Orange County Annual Operating Budget and the FY2023-24 (Year <br /> 1) Capital Investment Plan Budget. <br /> WHEREAS, the Orange County Board of Commissioners has considered the Orange County <br /> FY2023-24 Manager's Recommended Budget and the FY2023-24 Manager's Recommended <br /> Capital Investment Plan Budget; and <br /> WHEREAS, the Commissioners have agreed on certain modifications to the Manager's <br /> Recommended Budget as presented in the FY2023-24 County Manager's Recommended <br /> Budget on May 2, 2023; and to the FY2023-24 Manager's Recommended Capital Investment <br /> Plan Budget as presented on April 4, 2023; <br /> NOW THEREFORE BE IT RESOLVED, that the Orange County Board of Commissioners <br /> expresses its intent to adopt the FY2023-24 Orange County Budget Ordinance on Tuesday, <br /> June 20, 2023, based on the following stipulations: <br /> 1) Property Tax Rates <br /> a) The ad valorem property tax rate shall be set at 83.53 cents per $100 of assessed <br /> valuation. <br /> b) The Chapel Hill-Carrboro City Schools District Tax shall be set at 19.80 cents per <br /> $100 of assessed valuation. <br />