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

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• File level access and permissions are systematically audited on access to comply with various compliance and standards requirements . • Along with typical nightly, weekly and monthly backups routines, data is sent off site and database data is stored immutably in the cloud . • Next Generation end point detection and response is deployed across the enterprise with dedicated third-party staff reviewing incidents as they occur, 24 hours per day, 365 days per year . Orange County Information Technologies ' multi - layered approach includes mandatory security training for all employees that access the network as well as having an IT Security Officer to review and create appropriate security policies and procedures . PENSION PLANS The County participates in the North Carolina Local Governmental Employees ' Retirement System (" LGERS ") , LGERS is a service agency administered through a board of trustees (the "Board of Trustees") by the State for public employees of counties, cities, boards, commissions and other similar governmental entities . While the State Treasurer is the custodian of system funds, administrative costs are borne by the participating employer governmental entities . The State makes no contributions to the system . The system provides , on a uniform system -wide basis, retirement and , at each employer ' s option , death benefits from contributions made by employers and employees . Employee members contribute six percent of their individual compensation . Each new employer makes a normal contribution plus , where applicable , a contribution to find any accrued liability over a 24-year period . The County ' s contractually required contribution rate for fiscal year 2023 - 24 was 13 . 65 % of eligible payroll for general employees and 15 . 10 % of eligible payroll for law enforcement officers ("LEO") . The County ' s contractually required contribution rate for fiscal year 2024-25 , is 13 . 64% of eligible payroll for general employees and 15 . 10% of eligible payroll for LEOs . The accrued liability contribution rate is determined separately for each employer and covers the liability of the employer for benefits based on employees ' service rendered prior to the date the employer joins the system . Additional rates, such as rates associated with death benefits or past service liabilities , will be added to the base rate to determine the actual contribution percentage for each employer . j Members qualify for a vested deferred benefit at age 50 with at least 20 years of creditable service ; at age 60 after at least five years of creditable service to the unit of local government . Unreduced benefits are available : at age 65 , with at least five years of service ; at age 60 , with at least 25 years of creditable I service ; or after 30 years of creditable service , regardless of age . Benefit payments are computed by taking an average of the annual compensation for the four consecutive years of membership service yielding the highest average . This average is then adjusted by a percentage formula, by a total years of service factor, and by an age service factor if the individual is not eligible for unreduced benefits . Contributions to the system are determined on an actuarial basis . For information concerning the County ' s participation in the North Carolina Local Governmental Employees ' Retirement System and the Supplemental Retirement Income Plan of North Carolina see the Notes to the County ' s Audited Financial Statements in Appendix B . I Financial statements and required supplementary information for LGERS are included in the Annual Comprehensive Financial Report ("ACFR") for the State . Please refer to the State ' s ACFR for additional information , i i 40 i