AGENDA DATE: 11/7/2018
TITLE:
Title
Q1 FY 19 Quarterly Financial Report; FY 18 Year End Economic Indicators Report; FY 18 Annual Economic Indicators Table I
BODY
SUBJECT/PROPOSAL/REQUEST: Most recent financial indicators; and County economic indicators.
ITEM TYPE: Consent Information Item
STAFF CONTACT(S): Richardson, Letteri, Allshouse, S., and Breeden, L.
PRESENTER (S): N/A
LEGAL REVIEW: Not Required
REVIEWED BY: Jeffrey B. Richardson
BACKGROUND: The attached Quarterly Financial Report (QFR) (Attachment A) provides information regarding the County's FY 19 General Fund and School Fund performance as of September 30, 2018. The Annual Economic Indicators Report (AEIR) (Attachments B and C) shows the state of the County's economy.
STRATEGIC PLAN: Quality Government Operations: Ensure County government's capacity 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, 2018, the end of the first quarter (Q1) of FY 19. 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 19 were $18,932,597 compared to $16,986,786 in Q1 FY 18. In percentage terms, FY 19 YTD actual revenues as a percentage of FY19 Revised Budget revenues were 6.48%, compared to 6.19% in FY 18.
Expenditures - YTD Actual YTD total expenditures in Q1 FY 19 were $34,472,434 compared to $66,749,335 in Q1 FY 18. In percentage terms, FY 19 YTD actual expenditures as a percentage of FY 19 Revised Budget expenditures were 11.80%,...
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