Title
Chief Administrative Office recommending the Board:
1) Receive and file the attached Fiscal Year 2019-20 Mid-Year Budget Report; and
2) Approve updated Budget Policies (Board Policy B-16) reflecting the addition of a Capital (Fixed) Asset budget policy. (Est. Time: 30 Min.) (Cont. 2/25/2020, Item 30)
Body
DISCUSSION / BACKGROUND
Each year, the Chief Administrative Office works in conjunction with County Departments to review the status of the current year's budget, and presents a Mid-Year report which summarizes the County's budget status as of December 31 of the given year. The review and report is intended to identify any material variances in projected revenues and expenses and provides a fund balance estimate relative to the upcoming Fiscal Year budget preparation.
Departments are in the process of developing their FY 2020-21 budget requests. These requests were due to the Chief Administrative Office on February 21, 2020. A special Board meeting is planned for Monday, April 13, 2020, to discuss any major revenue, expenditure, and/or policy issues related to the FY 2020-21 Recommended Budget, prior to the Chief Administrative Office finalizing work on the budget book. The CAO Recommended Budget for FY 2020-21 is estimated to be complete by mid-May, with the Budget Hearing set for June 8, 2020.
The Chief Administrative Office is also recommending that the Board approve the updated Board Policy B-16, which includes a new budget policy regarding budgeting of Capital (Fixed) Assets. The proposed policy has been distributed to all Departments for review, and has been reviewed by the FY 2020-21 Budget Ad Hoc Committee.
Note: Ordinance 2.13.060 may need to be revised with the implementation of this policy. Sub-section (D) of this ordinance provides that the Chief Administrative Office shall "Recommend to the Board regarding requests for unforeseen and unbudgeted expenditures; approve budget transfers and revisions within appropriations, including additional fixed assets; and make recommendations on transfer requests which require Board action."
OTHER DEPARTMENT / AGENCY INVOLVEMENT
All County departments participate in the development of this report by providing the CAO with mid-year projections and summary status information.
FINANCIAL IMPACT
There is no direct financial impact associated with the attached report and mid-year budget presentation.
CLERK OF THE BOARD FOLLOW UP ACTIONS
None
STRATEGIC PLAN COMPONENT
Good Governance
CONTACT
Don Ashton, Chief Administrative Officer
Shawne Corley, Assistant Chief Administrative Officer