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4 <br /> Federal Agencies, and Overnight Repurchase Agreements, which are all highly rated securities and <br /> comply with the North Carolina Permitted Investments statutes. The portfolio composition indicated <br /> below is currently yielding 5.21%through March 31, but this rate may likely decrease further contingent <br /> on additional Federal Reserve cuts in the discount rate occur. <br /> March 31, 2024 <br /> r <br /> ■Overnight Repo <br /> ■Term Repo <br /> ■Fixed Rate Agencies <br /> Floating Rate Agencies <br /> Fixed Rate Treasuries <br /> ■Floating Rate Treasuries <br /> ■Net Other Assets" <br /> General Fund expenditures are 62%of budget, as compared to 67.8%the prior fiscal year, but this is due to debt <br /> service expenses now being accounted for in the Debt Service Fund; the FY 2023-24 spend rate is 73% if debt <br /> service expenses are included. <br /> • Human Services third quarter expenditures represented $34.1 million or69%of thefunctional budgetas <br /> compared to $28 million or 60%the prior fiscal year. Personnel expenses for Social Services, Medicaid <br /> administrative support, Health and Housing Community Development are the primary drivers. <br /> • Public Safety expenditures represented $27.4 million or75.5%of thefunctional budgetas compared to <br /> $24.4 million or69%the prior fiscal year. Sheriff's Office and Emergency Services personnel levels are <br /> the primary drivers. <br /> • Support Services expenditures represented 76.4%of thefunctional budgetas compared to 111.5%the <br /> prior fiscal year. The prior year's variance was a temporary over appropriation. The Support Services <br /> function ended FY 2022-23 within its authorized budget after the allocation from non-departmental <br /> accounts to County departments. <br /> • Education expenditures represented 72.7%of its budget as compared with 72.6%the prior fiscal <br /> 4 <br />