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File #: 21-200    Version: 1 Name:
Type: Report Status: Consent Agenda (no vote)
File created: 2/3/2021 In control: Board of Supervisors
On agenda: 2/17/2021 Final action:
Title: FY 21 Second Quarter Financial Report
Attachments: 1. Att.A - General Fund Financial Report, 2. Att.B - School Fund Financial Report, 3. Att.C - County Executive Approved Transfers, 4. Att.D - General Fund Projections, 5. Att.E - Grant Report, 6. Att.F - Investment Report
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AGENDA DATE: 2/17/2021

TITLE:
Title
FY 21 Second Quarter Financial Report
BODY

SUBJECT/PROPOSAL/REQUEST: FY 21 Second Quarter Financial Report

ITEM TYPE: Consent Information Item

STAFF CONTACT(S): Richardson, Birch, Baber, Bowman, Vinzant, Greene

PRESENTER (S): N/A

LEGAL REVIEW: Not Required

REVIEWED BY: Jeffrey B. Richardson

BACKGROUND: In accordance with the County's Financial Policies, attached is the Quarterly Financial Report for July 1, 2020 through December 31, 2020. This report includes budget-to-actual comparisons for the current year, a report of transfers authorized by the County Executive, grant activity, updated revenue and expenditure projections, and a report on County investments.

STRATEGIC PLAN: Mission: To enhance the well-being and quality of life for all community members through the provision of the highest level of public service consistent with the prudent use of public funds.

DISCUSSION:
General Fund Quarterly Financial Report (Attachment A)
The General Fund Quarterly Financial Report reflects year-to-date (YTD) data from July 1, 2020, through December 31, 2020, the end of the second quarter (Q2) of FY 21. Highlights from the Quarterly Financial Report include:

* Year-to-date total revenues in Q2 of FY 21 were $140,920,763 compared to $137,214,958 in Q2 of FY 20. In percentage terms, FY 21 YTD actual revenues as a percentage of FY 21 Revised Budget revenues were 46.5%, compared to 44.3% in FY 20.
* Year-to-date total expenditures in Q2 of FY 21 were $131,496,267 compared to $141,765,188 in Q2 of FY 20. In percentage terms, FY 21 YTD actual expenditures as a percentage of FY 21 Revised Budget expenditures were 43.4%, compared to 45.7% in FY 20.

School Fund Quarterly Financial Report (Attachment B)
As requested by the Board, the Albemarle County Public Schools Quarterly Financial Report as of December 31, 2020 is included.

County Executive Approved Transfers (Attachment C)
The FY 21 appropriation resoluti...

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