Title
Consider adopting a resolution approving the Fiscal Year (FY) 2024-25 Budget for the County of Monterey, incorporating the FY 2024-25 Recommended Budget, which includes the County’s General Financial Policies, and additional modifications directed by the Board at the May 29, 2024, Budget Hearings.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
Consider adopting a resolution approving the Fiscal Year (FY) 2024-25 Budget for the County of Monterey, incorporating the FY 2024-25 Recommended Budget, which includes the County’s General Financial Policies, and additional modifications directed by the Board at the May 29, 2024, Budget Hearings.
SUMMARY:
The County Administrative Office (CAO) presented the FY 2024-25 Recommended Budget to the Board of Supervisors at the Budget Hearings on May 29, 2024. The Board approved several modifications, including amendments to the General Financial Policies, and directed staff to incorporate related changes in the budget for adoption on June 20, 2024. Budget Hearing modifications are detailed in Attachment A and Exhibit 1.
DISCUSSION:
The FY 2024-25 Budget for all funds governed by the Board of Supervisors and the Board of Supervisors acting as the Board of Directors of individual special districts and Successor Agencies totals $2,005,308,473. Total financing includes $1,928,662,987 in revenues and $76,645,486 in fund balance. Monterey County’s FY 2024-25 Adopted Budget provides for 5,896.55 full-time equivalent (FTE) positions (Exhibit 1). Adopted Budget details are included in the FY 2024-25 Recommended Budget presented at Budget Hearings on May 29, 2024, and in the attachments to this report. The Board of Supervisors acting as the Boards of Directors of individual special districts and Successor Agencies will consider related budgets, included in the above totals, for adoption during individually convened hearings on June 20, 2024, as appropriate.
General Fund appropriations total $892,271,304 offset by use of fund balance of $18,462,647 and $873,808,657 in revenues. The General Fund budget provides for 3,599.70 FTEs.
The adopted budget includes a transfer from the Transient Occupancy Tax (TOT) revenue contribution to the Road Fund in the amount of $9,518,405 which maintains the TOT contribution at a level established by current financial policies.
The County Administrative Office recognizes that adoption of the State’s FY 2024-25 Budget and budgetary changes at the federal level could impact County operations. Staff closely monitors the County’s revenue and expenditure conditions to identify emerging issues and potential impacts that may require additional Board action. In addition, pending negotiations with labor groups could also impact the FY 2024-25. County staff will return to the Board to address federal, state, and local issues and make recommendations as necessary to maintain a balanced budget throughout the fiscal year as soon as any potential impacts are identified and quantified.
OTHER AGENCY INVOLVEMENT:
All County departments and agencies participate in development of the annual budget. At the close of Budget Hearings on May 29, 2024, staff in the CAO - Budget and Analysis Division, Auditor-Controller’s Office, and Human Resources Department initiated collaborative efforts to ensure that all components of the County’s FY 2024-25 Adopted Budget are programmed in Countywide Enterprise budget, payroll, accounting, and Human Resources position tracking systems for accurate and timely implementation on July 1 of the new fiscal year.
FINANCING:
The FY 2024-25 Adopted Budget reflects the FY 2024-25 Recommended Budget and changes directed by the Board during Budget Hearings on May 29, 2024. The FY 2024-25 Budget is balanced and meets all requirements for adoption and implementation effective July 1, 2024.
BOARD OF SUPERVISORS STRATEGIC INITIATIVES:
The recommendation to approve the FY 2024-25 Budget for the County of Monterey is consistent with the Board of Supervisors’ Strategic Initiative for Administration. The FY 2024-25 Budget for the County of Monterey represents a balanced budget that sustains core services and efficiently allocates resources.
__Economic Development
_X_Administration
__Health & Human Services
__Infrastructure
__Public Safety
Prepared by: Ezequiel Vega, Assistant County Administrative Officer, ext. 3078
Approved by: Sonia M. De La Rosa, County Administrative Officer
Attachments:
FY 2024-25 Adopted Budget Resolution;
Attachment A - Modifications to the FY 2024-25 Recommended Budget;
Attachment B - Adopted Budget Follow-up Items;
Exhibit 1 - FY 2024-25 Adopted Positions