OTHER-2025-035-Orange County North Carolina limited obligation bonds series 2025

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FISCAL YEAR 2024-25 BUDGET COMMENTARY The adopted General Fund budget for fiscal year 2024-25 totals $294 . 4 million, which represents a $ 14 . 9 million or 5 . 0% increase over the fiscal year 2023 -24 adopted budget . The County budget factors in a 2 . 81 cent increase from 83 . 53 cents to 86 . 34 cents per $ 100 of assessed value to fund the County and School continuation budgets . The fiscal year 2024-25 budget assumed a $488 million or 2 . 3 % increase in the assessed value of real and personal property over the prior year . The real and personal collection rate is budgeted to remain the same at 99 . 2% . The County budget assumes a decrease in the allocation of General Fund revenues to education spending in fiscal year 2024-25 from 48 . 1 % to 46 . 76 % , due to lower debt service for school projects . The budget increases per pupil expenditures by $320 to $ 5 , 666 which has consistently been among the highest per pupil appropriations in the State . The budget appropriates approximately $4 . 0 million to fund school health and safety contractual services . The fiscal year 2024 -25 budget fully funds all positions of the County and includes a 4% wage increase effective July 1 , 2024 at a cost of $3 .2 million . Property tax revenues comprise approximately $202 million or 61 . 4% of General Fund revenues . Sales tax revenues comprises 13 . 4% of the budget and has been budgeted to remain consistent with fiscal year 2023 -24 projections . The remaining 25 . 2% of General Fund revenues are comprised of intergovernmental revenues, charges for services, licenses and permits, and miscellaneous revenues . CYBERSECURITY The County, like many other large public and private entities , relies on a large and complex technology environment to conduct its operations and faces multiple cybersecurity threats involving, but not limited to, hacking, phishing viruses , malware and other attacks on its computing and other digital networks and systems (collectively, " Systems Technology") . As a recipient and provider of personal , private, or sensitive information, the County may be the target of cybersecurity incidents that could result in adverse consequences to the County and its Systems Technology, requiring a response action to mitigate the consequences . The County has hired a Security Officer that dual reports to the County Manager and Chief Investment Officer . The County deploys regular training to all County employees throughout the year. Orange County IT takes a multi- layered approach regarding enterprise security and data loss prevention to protect against internal and external threats . • Perimeter security is handled by employing state of the art firewall(s), and intrusion detection and prevention systems as well as email scanning prior to email being delivered to county servers for processing . • Multifactor authentication is used for user device access to network resources . • VPN and virtual desktop technologies are deployed for secure and managed remote access . • The principal of least privilege access is used for all uses both common and administrative . • Beyond the perimeter all network traffic is monitored north, south , east and west. Appropriate alerts are configured for anomalous behavior . • Network traffic is segmented to prevent the risk of cross contamination during security events . • Multiple security incident/information and event management strategies are used, i . e . , SIEM technology to monitor server and device events . 39