AGENDA DATE: 12/18/2019
TITLE:
Title
Q1 FY20 Quarterly Financial Report; Q1 FY20 General Fund Revised Financial Projections Report; and Q1 FY20 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 FY20 General Fund and School Fund performance as of September 30, 2019. The General Fund Revised Financial Projections Report (Attachments B and C) includes projected General Fund revenues and expenditures for FY20. 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 September 30, 2019, the end of the first quarter (Q1) of FY20. 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 FY20 were $19,458,516 compared to $18,932,595 in Q1 FY19. In percentage terms, FY20 YTD actual revenues as a percentage of FY20 Revised Budget revenues were 6.34%, compared to 6.48% in FY19.
Expenditures - YTD Actual
YTD total expenditures in Q1 FY...
Click here for full text