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File #: 21-162    Name: Receive Monterey County's 3-year Financial Forecast
Type: General Agenda Item Status: Scheduled AM
File created: 2/19/2021 In control: Board of Supervisors
On agenda: 3/2/2021 Final action:
Title: Receive the Monterey County Financial Forecast, which assesses the County's fiscal condition for the current year and three forecast years (FY 2021-22 through FY 2023-24).
Sponsors: County Administrative Office
Attachments: 1. Board Report, 2. March 2021 Monterey County Financial Forecast, 3. Completed Board Order Item No. 11
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Title

Receive the Monterey County Financial Forecast, which assesses the County’s fiscal condition for the current year and three forecast years (FY 2021-22 through FY 2023-24).

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 2021-22 through FY 2023-24).

 

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. This report was presented to the Budget Committee during its February 24, 2021 meeting.

 

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: Ezequiel Vega, County Budget Director, ext. 3078

 

Approved by: Dewayne Woods, Assistant County Administrative Officer, ext. 5309

 

Attachments: March 2021 Monterey County Financial Forecast