TO: Board of Supervisors
FROM: David Morrison, Interim County Executive Officer
REPORT BY: Daniel Sanchez, Senior Management Analyst
SUBJECT: Five-year budget forecast and other fiscal reports
RECOMMENDATION
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Interim County Executive Officer requests that the Board:
1. Receive a presentation of the five-year budget forecast, Section 115 Trust Fund, and American Rescue Plan Act;
2. Approve mid-year Budget Adjustments per the attached reports; and
3. Authorize the creation of a new non-operating special revenue fund for CARE Court in Fund 2460, Division 24622, Subdivision 20000252 (4/5 vote required).
(CONTINUED FROM FEBRUARY 28, 2023)
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EXECUTIVE SUMMARY
As part of the County's annual budget process, the Board reviews the five-year forecast. This presentation is intended to highlight any financial trends in revenues and expenses that help inform the upcoming budget process.
The County opened a Section 115 Trust to fund its Other Post-Employment Benefits - Health Insurance unfunded liability. Staff will present the annual report per the Pension Trust Fund policy.
The County received $26.8 million in ARPA federal grant monies to respond to the pandemic and to provide economic recovery. The Board allocated the monies in 2021 and 2022 and program expenditures are in progress. Funds must be obligated by December 2024 and spent by December 2026. Staff will provide periodic updates regarding status of funds.
Departments have reviewed their projected activity through fiscal year end and request supplemental appropriations through mid-year budget adjustments.
The state provided initial grants to counties for CARE Court implementation costs. The County is creating a new non-operating special revenue fund for CARE Court.
FISCAL & STRATEGIC PLAN IMPACT
Is there a Fiscal Impact?
Yes
County Strategic Plan pillar addressed:
Effective and Open Government
ENVIRONMENTAL IMPACT
ENVIRONMENTAL DETERMINATION: No.
BACKGROUND AND DISCUSSION
The annual five-year forec...
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