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5 <br /> Slide#7 <br /> FY2024-25 RECOMMENDED BUDGET <br /> EDUCATION—5% INCREASE <br /> Iturham Technical I I I I 4 . I' <br /> Community College I:.ase requestI <br /> F'Pudgetcommend <br /> Current Expenses $ 900,346 $ 1,157,360 $ 945,363 $ 45,017 <br /> Capital Outlay $ 75,000 $ 100,000 $ 75,000 $ - <br /> Innovation Hub* $ 20,000 $ 20,000 $ 20,000 $ - <br /> Back to Work Initiative*$ 100,000 $ 100,000 $ 100,000 $ - <br /> Durham Tech Promise* $ 200,000$ 200,000$ 200,000 $ - <br /> Small Business Center <br /> Coordinator* $ 70,000 $ 70,000 $ 70,000 $ - <br /> ApprenticesMp <br /> Coordinator* $ 8,249 $ 8,755 $ 8,755 $ 506, <br /> *Funded in Article 46,outside of the General Fund <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br /> Slide #8 <br /> FY2024-25 RECOMMENDED BUDGET <br /> EMPLOYEE COMPENSATION PACKAGE <br /> COUNTY •YEE COMPENSATION <br /> Increase Total <br /> .Compensation Adjustment 4% $3,200,000 <br /> z Living WagIrjustment 6% $75,000 <br /> Health&Dental Insurance 50/0 $640,000 <br /> Retirement Increase T $530,000 <br /> SRemove Matching Requirement for $75,000 <br /> Wk -A hW <br /> 1-Compensation adjustment includes Merit and 401Kadjustments of 4% <br /> 2-Living Wage Increase Living wage for temporary employees from$16.60 <br /> per hour to$17.65per hour <br /> 3-Allow equitable distribution of 401K supplement <br /> ORANGE COUNTY <br /> NORTH CAROLINA <br />