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4 <br /> Finance <br /> 7. At the advice of the County's auditors, it is proposed that the County amend its ordinance <br /> to set a capitalization threshold for leases and technology subscriptions at $50,000. These <br /> were newly added components of the audit, set by Governmental Accounting Standards <br /> Board (GASB) 87 and 96, that require the County to track all leases and subscriptions. For <br /> ease of reporting, the capitalization threshold only requires that the County report these <br /> leases and subscriptions above $50,000 for the audit. <br /> SOCIAL JUSTICE IMPACT: There is no Orange County Social Justice Goal impact <br /> associated with this item. <br /> Housing <br /> 8. Orange County has received two payments totaling $100,000 from the Local Assistance <br /> and Tribal Consistency Fund (LATCF). This general revenue enhancement program <br /> provides assistance to counties and tribal areas. Eligible LATCF uses include a broad array <br /> of public services including health, educational, housing, and public safety services, capital <br /> needs and technology infrastructure that are one-time in nature. The $100,000 is currently <br /> in the Multi-year Grant Fund, outside of the General Fund. This amendment documents <br /> Orange County's intent to use these funds for housing initiatives around community <br /> development effective July 1, 2023. <br /> SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goal is <br /> applicable to this item: <br /> • GOAL: ENSURE ECONOMIC SELF-SUFFICIENCY <br /> The creation and preservation of infrastructure, policies, programs and funding <br /> necessary for residents to provide shelter, food, clothing and medical care for <br /> themselves and their dependents. <br /> Visitors Bureau <br /> 9. The Orange County Visitors Bureau has received $82,438 in additional revenue from the <br /> Town of Chapel Hill, for surpassing the FY 2023-24 performance benchmarks. As per the <br /> Agreement, the Town of Chapel Hill agrees to award the Visitors Bureau 50% of revenues <br /> from hotel/motel occupancy receipts of collections exceeding $1,000,000. The Bureau will <br /> use the funds to expand tourism outreach to potential conferences and meetings, introduce <br /> a new 2025 Disability Guide, and advertise for the 2024 Manchester City v. Celtic FC <br /> soccer match in Chapel Hill. This budget amendment provides for the receipt of these <br /> additional funds in the Visitors Bureau, outside the General Fund. <br /> SOCIAL JUSTICE IMPACT: There is no Orange County Social Justice Goal impact <br /> associated with this item. <br />