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Presentation 2. B.
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| Regular BOS Meeting |
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| Information |
| Request/Subject |
| Presentation of Gila County General Fund financial data as it compares to the fiscal year 2022 Gila County Budget and Fiscal Years 2021, 2020, and 2019 year-to-date performance. |
| Background Information |
| At the request of the Gila County Board of Supervisors' Chairman and Members, the Finance Department has analyzed the year-to-date performance of both revenues and expenditures as compared to the 2022 Fiscal Year Budget. This report contains General Fund fiscal data as of February, and March 2022. Throughout the year, the Finance Department prepares reports to compare Gila County's income and expenses to the adopted budget. This information is provided for both the Board of Supervisors and the general public to strengthen our communication and transparency efforts. We welcome feedback to improve the usefulness of the information. As we continue to make improvements in software compatibility, we anticipate being able to provide more timely data comparisons. In addition, at the request of Chairman Humphrey and Member Supervisors Cline and Christensen, we maintain these reports for future inclusion in the FY 2023 Budget Book. |
| Evaluation |
Monthly Review Process- Monthly the Budget Manager reviews the Countywide Budget Performance Report for both revenues and expenses. By systematically evaluating each fund for its progress toward annual revenue and expenditure targets, Finance is able to communicate well with departmental leaders and keep notes for improving the preparation of future years' budgets. When extraordinary items arise, or department leaders have concerns about upcoming expenditures or revenues, Finance works with departments and with the County Manager as appropriate to ameliorate concerns, advocate strategically, and provide insight on past decisions to ensure the vision for the current year's budget remains in focus.
Ongoing Communication- This approach extends beyond monthly Budget Performance Report review and includes: contract request assessments, repair maintenance discussions, and providing full-service communication about where items were budgeted so that we're consistent. In addition, working with departments to understand the timing of reimbursable grant-funded programs allows us to strategically plan for year-end receivables and cash balances. |
| Conclusion |
March 31, 2022 Summary
General Fund Revenue:
At the end of March 2022, Gila County’s General Fund Revenues were at 57% of the annual budget compared to a 9-month target of 75%. In total, Fiscal Year 2022 year-to-date revenues are $210,334.50 more than the same year-to-date revenues for Fiscal Year 2021.
Top 3 Revenue line items experiencing an increase compared to the 2021 Fiscal Year at 3/31 are:
| State Shared |
$974,949.66 |
| Charges for Services |
$120,660.89 |
| State Grants |
$115,559.02 |
Top 3 Revenue line items experiencing a decrease compared to the 2021 fiscal year at 3/31 are:
| Property Taxes |
($342,459.84) |
| Miscellaneous |
($309,486.80) |
| Interest & Penalties on Delinquent Taxes |
($123,724.96) |
General Fund Expenditure:
General Fund Expenditures & Encumbrances at 3/31/2022 are 49% of the budget compared to a 9-month target of 58% and $649,763.52 more than 3/31/2021.
YTD Data aligns with the Gila County Strategic Plan priorities including Responsible Resource Management, Robust Communication, and Safety.
Net Impact:
Year to Date performance is consistent with expectation. The impact of slower timing of General Fund revenue is largely offset by the reduction in General Fund expenditures – the variance between the two being $43,505.09 (or 6.7%) – reflective of commitment to the strategic plan pillars of Responsible Resource Management, and Robust Communication.
Timing Notes – looking ahead to April 2022 Monthly Activity - $5,847,541.87 revenue (11.6% of Budget)
Property Taxes $4,617,106.63 (18.8% of Budget; 79% of Monthly Activity)
For comparison:
- March revenue: $2,124,994.68 (4.2% of Budget)
- February revenue: $2,382,141.34 (4.7% of Budget)
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| Recommendation |
| Presentation of Gila County financial data as it compares to the fiscal year 2022 Gila County Budget and Fiscal Years 2021, 2020, and 2019 year-to-date performance. |
| Suggested Motion |
| Presentation of February & March Gila County financial data as it compares to the fiscal year 2022 Gila County Budget and fiscal years 2021, 2020, and 2019. (Maryn Belling) |
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