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JEFFERSON COUNTY
BOARD OF COUNTY COMMISSIONERS
AGENDA REQUEST
TO:
Board of Commissioners
FROM:
Philip :VIorley, Connty Administrator
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DATE:
.Jnly 26, 2010
RE:
Bndget Update
STATEMENT OF ISSUE:
On July 26, staff'will present an updatc on currcnt financial projection for 2010 and a
preliminary 11nancial projection for 20 II and for 2012-2015,
ACIIAL YSIS:
The national, state and local cconomies are aflected by the most significant rcccssion in a
gcncration, This presents challenges to J etlerson County government to maintain important
public services for the community at a timc whcn rcsources are very limited.
This bricfing is an initial report early in the 2011 budget process to idcntify thc naturc of the
challengcs wc face, so that our citizens, elected ofJicials, department dircctors, and staff can
begin thinking about potential solutions.
Previous 2010 Budget Status Updates were presented to the Board of County Commissioners on
March 22 and AprilS, 2010. The presentation on AprilS coneluded:
. At the end of March 20]() revenues were trending below expectations by about S260K at
year :~ end, led by lowcr sales tax, privatc harvest tax, and investment income. These
reduced expectations in 20 II as well.
. Linbudgctcd one-time revenues in 2010 appearcd sufficient to retain our year-end fund
balance goal, but raised questions about 20 II.
2010 revenue projections werc still very moveable.
Conscqucntly, on AprilS, staff recommended:
. Continue to monitor thc budget carefully, month by month:
. Savc whcrc possiblc: pursue revenues;
. Be prepared. Develop strategies. Continue to work with all branches, departments and
unions, as appropriate.
. Review 20 II revenue assumptions, and revise budget strategy leading into 20 II as
appropriate.
. Strategize our known 2012 funding gap that requires $800K in additional General Fund
service cuts &/or ncw revenues.
. Grow the future. Continue our emphasis on strengthening economic development in
Jefferson County.
Subsequent actions by the County since April have followed these recommendations. The July
26 updated budget projections provide important information about our budget status, and
support the work to develop appropriate financial strategies for Jefferson County government.
FISCAL IMPACT:
1\ 0 direct impact from this briefing. Revenues and expenditures will be balanced for budget
years 2010 and 20 II.
RECOYlMENDA nON:
Consider thcsc most recent financial projections for 2010,2011 and beyond to develop and
execute appropriate fiscal strategies in concert with adopting 2011 Budget Goals and Objectives.
REVIEWED BY:
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C'ounty Admi;Uistrator Date