AGENDA DATE: 5/3/2017
TITLE:
Title
Q3 FY 17 Unaudited Quarterly Financial Report; Q3 FY 17 General Fund Revised Financial Projections Report; and Q2 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): Walker, Letteri, Burrell, Breeden, L., and Allshouse, S.
PRESENTER (S): N/A
LEGAL REVIEW: Not Required
REVIEWED BY: Douglas C. Walker
BACKGROUND: The attached Unaudited Quarterly Financial Report (UQFR) (Attachment A) provides information regarding the County's FY 17 General Fund and School Fund performance as of March 31, 2017. 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 March 31, 2017, the end of the third quarter (Q3) 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. Highlights from the QFR include:
Revenues - YTD Actual YTD total revenues in Q3 FY 17 were $143,606,745 compared to $136,241,227 in Q3 FY 16. In percentage terms, FY17 YTD actual revenues as a percentage of FY 17 Revised Budget revenues were 55.43%, compared t...
Click here for full text