Title
Receive an oral report on the FY 2017-18 Current Year Estimate and Three-Year Forecast for FY 2018-19, FY 2019-20, and FY 2020-21 for the County Parks and Lake Operations.
Report
RECOMMENDATION:
It is recommended that the Parks Commission:
Receive an oral report on the FY 2017-18 Current Year Estimate and Three-Year Forecast for FY 2018-19, FY 2019-20, and FY 2020-21 for the County Parks and Lake Operations Fund.
SUMMARY:
On November 2, 2017, the Parks Commission requested RMA present the Current Year Estimate and the Three-Year Forecast for the County Parks and Lake Operations at the Commission's January 2018 meeting. RMA has since conducted a mid-year budget review and analysis of all seventy-eight (78) budgets RMA manages, which includes the General Fund Parks Operations and the Parks Lake and Resort Operations. The Three-Year Forecast was developed based on this review and assumptions provided by the County Administrative Office (CAO) for non-discretionary cost.
County Parks are operated under the County General Fund and the Lake Operations are operated under an Enterprise Fund. Inclusion of Parks within the RMA in December 2016 created an opportunity for the Parks to receive additional resources and support in administration and management. In FY 2017-18 County Parks operations were consolidated into one operating Unit under the Resource Management Agency Department, using sub units to capture operating revenues and expenditures by Park location.
DISCUSSION:
Each year, under the direction of the County Administrative Office - Budget and Analysis Division (CAO), departments prepare a Current Year Estimate and Three-Year Financial Forecast. The forecast estimates revenues, expenditures, and fund balance for the current year 2017-18, the next budget year 2018-19, and two additional years (2019-20 and 2020-21). Forecast should not be confused with budgets, as each have a different purpose. Where budgets represent the County's operating p...
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