Title
Receive the Monterey County Financial Forecast, which assesses the County’s fiscal condition for the current year and three forecast years (FY 2020-21 through FY 2022-23).
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors receive the Monterey County Financial Forecast, which assesses the County’s fiscal condition for the current year and three forecast years (FY 2020-21 through FY 2022-23).
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.
BOARD OF SUPERVISORS STRATEGIC INITIATIVES:
The Financial Forecast supports the Board’s administrative strategic initiative to promote an organization that practices efficient and effective resource management and planning. The Forecast is a comprehensive mid-year review of planned spending and anticipated revenues for the current year and three forecast years. The result of this review is an assessment of the County’s financial condition, emerging needs, and expected fiscal capacity to meet those needs.
__Economic Development
_X_Administration
__Health & Human Services
__Infrastructure
__Public Safety
Prepared by: Lucila Sanchez, Administrative Analyst, ext. 6767
Approved by: Ezequiel Vega, County Budget Director, ext. 3078
Approved by: Dewayne Woods, Assistant County Administrative Officer, ext. 5309
Attachments: Monterey County Financial Forecast - March 2020