Title
Receive the Monterey County Financial Forecast, which assesses the County’s fiscal condition for the current year and three forecast years (FY 2019-20 through FY 2021-22).
Report
RECOMMENDATION:
It is recommended that the Budget Committee receive the Monterey County Financial Forecast, which assesses the County’s fiscal condition for the current year and three forecast years (FY 2019-20 through FY 2021-22).
SUMMARY/DISCUSSION:
The County’s financial forecast is the first step of the annual budget development cycle. Staff conducts a comprehensive mid-year review of planned spending and anticipated revenues for the current year, budget year, and two additional out years. The result of this review is an assessment of the County’s financial condition, emerging needs and the capacity to fund those needs as well as current levels of service and operations for the remainder of the fiscal year and beyond. Please see the attached Monterey County Financial Forecast for details.
OTHER AGENCY INVOLVEMENT:
Development of this forecast is a cooperative effort between all departments and the County Administrative Office.
FINANCING:
There are no fiscal impacts related to receipt of this report.
Prepared by: Lucila Sanchez, Administrative Analyst
Approved by: Paul Lewis, County Budget Director
Approved by: Dewayne Woods, Assistant County Administrative Officer
Attachments: March 2019 Monterey County Financial Forecast