Title
Chief Administrative Office recommending the Board adopt and authorize the Chair to sign Resolution 162-2019, incorporating Exhibits 1 through 3, adopting the County Budget and Budgets for Board Governed Special Districts for Fiscal Year 2019-2020. (Est. Time: 10 Min.)
FUNDING: Countywide Budget Adoption.
Body
DISCUSSION / BACKGROUND
The FY 2018-19 year-end close was completed by the Auditor’s Office on Friday, September 13, 2019. The final fund balance numbers, as a result of FY 2018-19 operations, are required to be incorporated in the FY 2019-20 Adopted Budget.
The General Fund ended FY 2018-19 with approximately $29.2 million in undesignated fund balance. This is $10.6 million more than what has been included in the FY 2019-20 Recommended Budget. Based on initial estimates, $3.8 million of the additional fund balance is committed to on-going Accumulative Capital Outlay projects authorized in prior years. This leaves approximately $6.8 million available as additional fund balance available for other operations, including increases to reserves and designations following current budgeting practices.
Due to the requirement to adopt the Budget prior to the statutorily required deadline of October 2nd, there is limited time available for the Chief Administrative Office to process and evaluate substantive changes to the Recommended Budget in time for the Board to consider those changes prior to the deadline.
Therefore, the Chief Administrative Office is recommending, as was recommended last year, that the Board adopt the attached FY 2019-20 Budget Resolution in order to officially adopt the Recommended Budget as the final Adopted Budget. With this budget adoption, excepting a single new recommendation to reduce the budgeted amount for Current Secured Property Tax, only previously approved adjustments are included as final revisions to the Recommended Budget. It is also recommended that the Board delegate authority to the Auditor-Controller, in con...
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