Title
Chief Administrative Office recommending the Board:
1) Receive and file the attached Fiscal Year 2023-24 Mid-Year Budget Report and if needed, provide direction to staff; and
2) Approve and authorize the Chair to sign a Budget Transfer from the Auditor-Controller and Treasurer-Tax Collector to increase unanticipated delinquent tax revenue by $25,000 and transfer the funding to the Treasurer-Tax Collector’s Office (4/5 vote required).
FUNDING: Countywide Budget.
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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 present a Mid-Year Budget Report which summarizes the County's budget status following the first two quarters of the fiscal year. The review and report are intended to identify any material variances in projected revenues and expenses, and provide a fund balance estimate relative to the upcoming fiscal year budget preparation.
The Mid-Year Budget report includes Attachment A, a memo from the Chief Administrative Office summarizing the County’s budget status. Attachment B is a table of each department’s General Fund Projections. Attachment C is a narrative providing further information explaining the projections outlined in Attachment B. Attachment D outlines each of the County’s subfunds, the fund balance, reserves, and designations at the time of adoption of the Fiscal Year 2023-24 Adopted Budget.
Departments submitted their Fiscal Year (FY) 2024-25 Budget requests to the Chief Administrative Office on February 20, 2024. A special Board meeting is planned for Tuesday, April 10, 2024, to discuss any major revenue, expenditure, and/or policy issues related to the FY 2024-25 Recommended Budget, before the Chief Administrative Office finalizes work on the budget book. The CAO Recommended Budget for FY 2024-25 is estimated to be complete by mid-May, with the Budget Hearing set for June 11, 2024.
Lastly, the Board is being askin...
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