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i <br /> I <br /> i <br /> I <br /> ORD - 2024- 016 <br /> i <br /> equipment vendors and installment financings that include the use of limited <br /> obligation bonds . The Manager and Finance Officer have advised the Board that <br /> it should adopt this resolution to document the County ' s plans for reimbursement , <br /> in order to comply with certain federal tax rules relating to reimbursement from <br /> financing proceeds . <br /> • The Community Loan Fund will issue no interest loans to recipients in this E <br /> program . <br /> • The County has adopted a policy to fund no interest loans to Non - Profit G <br /> organizations that meet certain financial criteria , as adopted on September 20 , <br /> 2018s <br /> • The County will include in its Travel Policy that travel expenses for <br /> Commissioners and County Staff will include the purchase of carbon offsets for I <br /> any airfare and the miles traveled by Car Share vehicles . <br /> • The Governmental Accounting Standards Board ( GASB ) established GASB (' <br /> Statement Number 87 for Leases and GASB 96 for Subscription - Based <br /> Information Technology Arrangements ( SBITAs ) . The purpose of these two <br /> i <br /> statements are to provide uniform accounting and financial reporting on E <br /> government entities ' financial statements . <br /> • To effectively comply with GASB 87 and 96 , the County will establish a <br /> capitalization threshold for Leases and SBITAs of $ 50 , 000 or higher . Leases and <br /> SBITAs at $ 50 , 000 and higher will be reported on the County ' s financial <br /> statements to meet the GASB requirements . <br /> Section IX . Internal Service Fund - Health and Dental Insurance Fund <br /> The Health and Dental Insurance Fund accounts for receipts of premium payments from <br /> the County and its employees , employees for their dependents , all retirees and the <br /> payment of employee and retiree claims and administration expenses . Projected receipts <br /> and fund reserves from the County and employees for fiscal year 2024 -25 will be <br /> $ 18 , 045 , 547 and projected expenses for claims and administration for fiscal year 2024- 25 <br /> will be $ 18 , 045 , 547 <br /> Section X. Other Post Employment Benefits Fund <br /> Orange County , North Carolina k <br /> Other Post- Employment Benefits ( OPEB ) Investment and Funding Policy <br /> • Each fiscal year the County funds its OPEB benefits coming due to current retires on <br /> a pay- as—you -go ( PAYGO ) basis from the Health and Dental Fund . <br /> • The County recognizes that by setting additional funds from the PAYGO amounts <br /> now to pay future benefits , the County can pay a portion of those future benefits <br /> from investment earnings on those funds . <br /> • The County strives to make investments consistent with the long -term nature of <br /> assets set aside for payment of OPEB benefits . The County will invest funds through f; <br /> the NC Treasurer' s Office in Equites , Long -term Bonds and other investments as <br /> authorized by North Carolina General Statutes 147 - 69 . 2 ( b5 ) . <br /> • The Finance Officer will regularly evaluate the appropriate allocation of such OPEB <br /> investments between Equities , Long -term Bonds and Shorter-term investments and <br /> make adjustments as necessary . <br /> Section XI . Custodial Funds <br /> Custodial Funds are used to report any fiduciary activities not reported in Investment <br /> Trust or Private- Purpose Trust Funds . In North Carolina , examples of Custodial Funds <br /> are the Jail Inmate Fund , and the property taxes collected by the County on behalf of a <br /> municipality (the Chapel HilkCarrboro City Schools District Tax Fund ) . <br /> 9 <br />