Santa Cruz County
CA

Agenda Item
DOC-2018-169
Accepted and filed
Feb 27, 2018 9:00 AM

Consider Mid-Year Financial Update for Fiscal Year 2017-18, as outlined in the memorandum of the Auditor-Controller-Treasurer-Tax Collector

Information

Department:Auditor-Controller-Treasurer-Tax CollectorSponsors:Auditor-Controller-Treasurer-Tax Collector Edith Driscoll
Category:ACTTC - Board LetterFunctions:General Government

Financial Impact

NONE

Board Letter

Recommended Action(s):

Consider Mid-Year Financial Update for Fiscal Year 2017-18.

 

Executive Summary

The County Budgeting Principles outline that the County should regularly monitor budget conformity. The Mid-Year Financial Update Report provides key information on the status of the Budget and allows the Board to take a broader look at the County’s financial picture at the mid-point of the fiscal year. This report provides an analysis of revenue and expenditure trends since adoption of the 2017-18 Budget.

 

Background

This mid-year report will focus on the status of the General Fund budget of $496,107,061 million. As of January 31, 2018, the budgeted General Fund amount has been updated to $496,693,768, due to additional revenues approved by your Board throughout the year.

 

Analysis

The attached Mid-Year Financial Report provides your Board with a current status report on the revenues and expenditures to date for the General Fund. Additional information is provided on specific revenues such as Intergovernmental Aid, Interest earnings and various tax revenues. The status of the County’s Fund Balance reserves are reported. (See attachment A).

 

 

Meeting History

Feb 27, 2018 9:00 AM Video Board of Supervisors Regular Meeting
RESULT:ACCEPTED AND FILED [UNANIMOUS]
MOVER:John Leopold, First District Supervisor
SECONDER:Ryan Coonerty, Third District Supervisor
AYES:John Leopold, Zach Friend, Ryan Coonerty, Greg Caput, Bruce McPherson

Discussion