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File #: 16-717    Version: 1 Name:
Type: Work Session - Action Status: Work Session
File created: 12/1/2016 In control: Board of Supervisors
On agenda: 12/14/2016 Final action: 12/14/2016
Title: Approval of FY 18 - FY 19 Two Year Fiscal Plan
AGENDA DATE: 12/14/2016

Approval of FY 18 - FY 19 Two Year Fiscal Plan
SUBJECT/PROPOSAL/REQUEST: Board approval of FY 18 - FY 19 Two Year Fiscal Plan

ITEM TYPE: Regular Action Item

STAFF CONTACT(S): Foley, Walker, Letteri, Catlin, Kamptner, Allshouse, L.

PRESENTER (S): Lori Allshouse

LEGAL REVIEW: Not Required

REVIEWED BY: Thomas C. Foley

BACKGROUND: The Five Year Financial Plan developed in November, 2015, demonstrated that the cumulative impacts of community and Board aspirations, growing citizen expectations, and service obligations created by population growth would outpace available resources into the future unless significant transformation was achieved. The Board of Supervisors, staff, and public had significant discussions about finding a balance between a realistic level of revenues going forward and the expenditures which can be supported by that revenue. As a result, beginning in April 2016, the County embarked upon a priority based budgeting process that cumulated in the development of a new Strategic Plan and a corresponding FY 18 - FY 19 2 Year Fiscal Plan. The chart below demonstrates the several milestones along the way which cumulated with a Recommended Balanced 2 Year Fiscal Plan that was presented to the Board of Supervisors on Nov. 9, 2016.

STRATEGIC PLAN: Through the priority driven budget process, the 2 Year Fiscal Plan supports the Strategic Plan approved by the Board of Supervisors in November 2016.

DISCUSSION: The Recommended Two Year Fiscal Plan includes stronger than previously projected revenues, strategic use of new revenue and one time monies, and a focus on transformation activities that will result in reduced costs and improved productivity. The plan does not include real estate tax rate increases for operating expenses and it delays the timing of previously projected real estate tax rate increases projected to be required to support the Capital Improvement Plan (CIP).

The Board has h...

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