AGENDA DATE: 10/5/2016
TITLE:
Title
FY 16 Unaudited Annual Financial Report (UAFR) and FY 16 Annual Economic Indicators Report (AEIR)
BODY
SUBJECT/PROPOSAL/REQUEST: FY 16 Year-End Financial and Economic Indicators
ITEM TYPE: Consent Information Item
STAFF CONTACT(S): Foley, Letteri, Kamptner, Burrell, Breeden, L., and Allshouse, S.
PRESENTER (S): N/A
LEGAL REVIEW: Yes
REVIEWED BY: Thomas C. Foley
BACKGROUND: The attached FY 16 Unaudited Annual Financial Report (UAFR) (Attachment A) provides preliminary information about the County's General Fund operations and estimated Fund Balance as of June 30, 2016. The attached FY 16 Annual Economic Indicators Report (AEIR) (Attachments B and C) provides an overview of general economic conditions in the County in FY 16, as well as a forecast of these conditions in FY 17.
STRATEGIC PLAN: The UAFR supports the County's Mission: To enhance the well-being and quality of life for all citizens through the provision of the highest level of public service consistent with the prudent use of public funds. The AEIR supports the Aspiration/Goal of economic prosperity.
DISCUSSION:
Unaudited Annual Financial Report
The UAFR reflects year-end data through June 30, 2016, the end of FY 16. The revenue information in the attached UAFR is organized in a way that is consistent with the revenue section of the County's budget document. Expenditure data is presented following the format of Exhibit 12 of the County's Comprehensive Annual Financial Report (CAFR). Line item titles in the UAFR match the line item titles in these two documents. The columns in the UAFR show FY 16 Adopted Budget revenues and expenditures, Revised Budget revenues and expenditures, as well as Year End actual revenues and expenditures. Each of these Year End figures subsequently is expressed as a dollar difference from, as well as a percentage of, the amount of the relevant dollar amount in the FY 16 Revised Budget.
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