HomeMy WebLinkAbout072720_ra02 JEFFERSON COUNTY
BOARD OF COUNTY COMMISSIONERS
REGULAR AGENDA REQUEST
TO: Board of County Commissioners
Philip Morley, County Administrator
FROM: Mark McCauley, Central Services Director
DATE: July 27,2020
SUBJECT: Report to the Board of County Commissioners regarding progress to update
the County's Six Year General Fund Financial Model in Advance of the
Biennial Budget's Mid-Biennium Review and Modification
STATEMENT OF ISSUE: As the County approaches the start of its mid-biennium review and
modification process, staff is updating the County's Six Year General Fund Financial Model. Once the
update is complete it will guide staff in developing recommendations to the Board of County Commissioners
(BOCC) regarding appropriate adjustment goals, considering all available financial data. As part of this
process, briefing the BOCC on our progress is appropriate.
ANALYSIS: On March 11, 2019, the BOCC approved an ordinance, 03-0311-19, which provided for the
County to shift to biennial budgeting. The ordinance requires a mid-biennium review and modification of
the 2021 budget adopted in December 2019. This process requires that staff review revenue and expense
projections and projected fund balances, for six years, including the current year.
This process is complicated by the current Covid-19 pandemic, which is having a number of effects on
revenues and expenses. The financial model presented today includes Covid-10 related revenue impacts,
such as reductions in fees and sales taxes, due to reduced activity due to the virus.
The analysis does not yet include detailed estimates regarding Covid-19 related expenses and potential
Covid-19 related reimbursement revenues from FEMA, the CARES Act, or other funding sources. Once that
work is complete, we will integrate that data into the six-year model, which we will again share with the
BOCC.
Based on the model as it currently stands, (see attached draft) we are not yet suggesting any general fund
budget reductions in 2021, although that may change as our projections mature. Any recommended budget
reduction guidance will require BOCC approval.
FISCAL IMPACT: None.
RECOMMENDATION: That this agenda request be approved and the above discussed presentation be
scheduled, as requested.
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