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File #: 23-461    Version: 1 Name:
Type: Report Status: Consent Agenda (no vote)
File created: 10/23/2023 In control: Board of Supervisors
On agenda: 11/15/2023 Final action:
Title: FY 24 First Quarter Financial Report
Attachments: 1. Att.A - General Fund Financial Report, 2. Att.C - County Executive Approved Transfers, 3. Att.D - Grant Report, 4. Att.E - Investment Report
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AGENDA DATE: 11/15/2023

TITLE:
Title
FY 24 First Quarter Financial Report
BODY

SUBJECT/PROPOSAL/REQUEST: Receive the FY24 First Quarter Financial Report

ITEM TYPE: Consent Information Item

STAFF CONTACT(S): Richardson, Sumner, Bowman, Davidson, Vinzant, Gardner, Taylor, 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, 2023 through September 30, 2023. This report includes budget-to-actual comparisons for the current year, a report of transfers authorized by the County Executive, grant activity, 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, 2023 through September 30, 2023, the end of the first quarter (Q1) of FY 24. Highlights from the Quarterly Financial Report include:
? Year-to-date total revenues in Q1 of FY 24 were $30,191,738, compared to $26,563,925 in Q1 of FY 23. In percentage terms, FY 24 YTD actual revenues as a percentage of FY 24 Revised Budget revenues were 7.4%, compared to 7.3% in FY 23.
? Year-to-date total expenditures in Q1 of FY 24 were $85,693,763, compared to $80,806,352 in Q1 of FY 23. In percentage terms, FY 24 YTD actual expenditures as a percentage of FY 24 Revised Budget expenditures were 20.9%, compared to 21.7% in FY 23.

School Fund Quarterly Financial Report (Attachment B)
The Albemarle County Public Schools Quarterly Financial Report as of September 30, 2023 is not available at this time. This report will be provided as soon as it is completed.

County Executive Ap...

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