Title
Receive the Monterey County Financial Forecast, which assesses the County’s fiscal condition for the current year and three forecast years (Fiscal Year 2022-23 through Fiscal Year 2024-25).
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 (Fiscal Year 2022-23 through Fiscal Year 2024-25).
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. The financial forecast was presented to the Budget Committee during its February 23, 2022, 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 2022 Monterey County Financial Forecast