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File #: 21-516    Version: 1 Name:
Type: Report Status: Consent Agenda (no vote)
File created: 10/29/2021 In control: Board of Supervisors
On agenda: 11/17/2021 Final action:
Title: FY 22 First Quarter Financial Report
Attachments: 1. Att.A - General Fund Financial Report Chart, 2. Att.B - School Fund Financial Report-Q1, 3. Att.C - County Executive Transfers, 4. Att.D - Grant Activity Report - FY22 1st Quarter, 5. Att.E - Investment Report
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AGENDA DATE: 11/17/2021

TITLE:
Title
FY 22 First Quarter Financial Report
BODY

SUBJECT/PROPOSAL/REQUEST: Receive the FY 22 First Quarter Financial Report

ITEM TYPE: Consent Information Item

STAFF CONTACT(S): Richardson, Birch, Bowman, Davidson, Vinzant, Gardner, Taylor, Greene

PRESENTER (S): N/A

LEGAL REVIEW: Not Required

REVIEWED BY: Jeffrey B. Richardson

BACKGROUND: In accordance with the County's Financial Policies, attached is the Quarterly Financial Report for July 1, 2021 through September 30, 2021. This report includes budget-to-actual comparisons for the current year, a report of transfers authorized by the County Executive, grant activity, and a report on County investments.

STRATEGIC PLAN: Mission - To enhance the well-being and quality of life for all community members through the provision of the highest level of public service consistent with the prudent use of public funds.

DISCUSSION:
General Fund Quarterly Financial Report (Attachment A)
The General Fund Quarterly Financial Report reflects year-to-date (YTD) data from July 1, 2021 through September 30, 2021, the end of the first quarter (Q1) of FY 22. Highlights from the Quarterly Financial Report include:
* Year-to-date total revenues in Q1 of FY 22 were $23,513,508 compared to $21,131,693 in Q1 of FY 21. In percentage terms, FY 22 YTD actual revenues as a percentage of FY 22 Revised Budget revenues were 7.4%, compared to 7.1% in FY 21.
* YTD total expenditures in Q1 of FY 22 were $72,352,120 compared to $72,659,033 in Q1 of FY 21. In percentage terms, FY 22 YTD actual expenditures as a percentage of FY 22 Revised Budget expenditures were 22.5%, compared to 24.2% in FY 21.

School Fund Quarterly Financial Report (Attachment B)
As requested by the Board, the Albemarle County Public Schools Quarterly Financial Report as of September 30, 2021 is included.

County Executive Approved Transfers (Attachment C)
The FY 22 appropriation resolution provides the County...

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