AGENDA DATE: 2/20/2019
TITLE:
Title
Q2 FY 19 Quarterly Financial Report; Q2 FY 19 General Fund Revised Financial Projections Report; and Q2 FY 19 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, 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 December 31, 2018. The General Fund Revised Financial Projections Report (Attachments B and C) includes projected General Fund revenues and expenditures for FY 19. The Quarterly Economic Indicator Report (Attachments D and E) provides an overview of recent general economic conditions in the County.
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 December 31, 2018, the end of the second quarter (Q2) 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 Q2 FY 19 were $129,428,012 compared to $123,899,488 in Q2 FY 18. In percentage terms, FY 19 YTD actual revenues as a percentage of FY19 Revised Budget revenues were 44.09%, compared to 44.61% in FY 18.
Expenditures - YTD Actual
YTD total expenditu...
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