AGENDA DATE: 12/7/2016
TITLE:
Title
Q1 FY 17 Quarterly Financial Report; Q1 FY 17 General Fund Revised Financial Projections Report; and Q1 FY 17 Quarterly Economic Indicators Report.
BODY
SUBJECT/PROPOSAL/REQUEST: Most recent financial indicators, general fund revenue and expenditure projections, and County economic indicators.
ITEM TYPE: Consent Information Item
STAFF CONTACT(S): Foley, Letteri, Burrell, Breeden, and Allshouse, S.
PRESENTER (S): N/A
LEGAL REVIEW: Not Required
REVIEWED BY: Thomas C. Foley
BACKGROUND: The attached Quarterly Financial Report (QFR) (Attachment A) provides information regarding the County's FY 17 General Fund and School Fund performance as of September 30, 2016. The General Fund Revised Financial Projections Report (Attachments B and C) includes projected General Fund revenues and expenditures for FY 17. 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, 2016, the end of the first quarter of FY 17. 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. Although the information contained in this report is substantively complete, the first quarter had not been officially closed at the time this report was prepared. Any change that could be made at closing is expected to be minimal, if any. Highlights from the QFR include:
Revenues - YTD A...
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