AGENDA DATE: 12/9/2015
TITLE:
Title
Q1 FY 16 Unaudited Quarterly Financial Report; Q1 FY 16 General Fund Revised Financial Projections Report; and Q1 FY 16 Quarterly Economic Indicators Report
BODY
SUBJECT/PROPOSAL/REQUEST: Status Report
ITEM TYPE: Consent Information Item
STAFF CONTACT(S): Foley, Letteri, Davis, Burrell, Breeden, Allshouse, S.
PRESENTER (S): N/A
LEGAL REVIEW: Yes
REVIEWED BY: Thomas C. Foley
BACKGROUND: The attached Quarterly Financial Report (QFR) (Attachment A) provides information regarding the County's FY 16 General Fund and School Fund performance as of September 30, 2015. The General Fund Revised Financial Projections Report (Attachments B and C) includes projected General Fund revenues and expenditures for FY 16. The Quarterly Economic Indicator Report (Attachments D and E) provides an overview of recent general economic conditions in the County.
STRATEGIC PLAN: Operational Capacity: Ensure County government's ability to provide high quality service that achieves community priorities. Economic Prosperity: Foster an environment that stimulates diversified job creation, capital investments, and tax revenues that support community goals.
DISCUSSION:
Quarterly Financial Report
The Quarterly Financial Report (QFR) reflects year-to-date (YTD) data through September 30, 2015, the end of the first quarter of FY 16. The data in the attached QFR is organized in a way that is consistent with Exhibit 12 of the County's Comprehensive Annual Financial Report (CAFR). Most line item titles in the QFR match the line item titles in the CAFR. Highlights from the QFR include:
Revenues - YTD Actual
YTD total revenues in Q1 FY 16 was $16,853,385 compared to $14,951,433 in Q1 FY 15. In percentage terms, FY 16 YTD actual revenues as a percentage of FY 16 Revised Budget revenues, were 6.76% compared to 6.18% in FY 15. Bearing in mind the segregation of the Fire Rescue Services Fund from the Gener...
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