AGENDA DATE: 12/6/2017
TITLE:
Title
FY 18 Q1 General Fund Financial Report; and FY 18 Q1 Quarterly Economic Indicators Report
BODY
SUBJECT/PROPOSAL/REQUEST: Most recent financial indicators and County economic indicators
ITEM TYPE: Consent Information Item
STAFF CONTACT(S): Richardson, Letteri, Burrell, Breeden, L., and Allshouse, S.
PRESENTER (S): N/A
LEGAL REVIEW: Not Required
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: The attached Unaudited Quarterly Financial Report (UQFR) (Attachment A) provides information regarding the County's FY 18 General Fund and School Fund performance as of September 30, 2017. The Quarterly Economic Indicator Report (QEIR) (Attachments B and C) provides an overview of recent general economic conditions of 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, 2017, the end of the first quarter (Q1) of FY 18. 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 Q1 FY 18 were $16,986,786 compared to $16,971,739 in Q1 FY 17. In percentage terms, FY 18 YTD actual revenues as a percentage of FY18 Revised Budget revenues were 6.19%, compared to 6.57% in FY 17.
Expenditures - YTD Actual
YTD total expenditures in Q1 FY 18 were $66,749,333 compared to $65,379,148 in Q1 FY 17. In percentage terms, FY 18 YTD actual expenditures as a percentage of FY 18 Revised Budget expenditures wer...
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