Can you help the County trim $2 million out of ongoing General Fund expenses?
A recent County report in February revealed important information that has the potential to change the way the County conducts business for years to come. We want you to tell us what that change should look like.
Each year, the County Administrative Office presents a mid-year budget report. The report serves two purposes: 1) Monitoring the County's financial status for the current fiscal year; and 2) Providing a preview of the County's financial status going in to the next fiscal year. The most recent mid-year budget report, presented in February, shows that the County needs to make changes to the way it conducts business or it could be forced to make harsh cuts in fiscal year 2015-16.
The General Fund is a $100 million fund over which the County has significant discretion. As detailed in the graphic to the right, the General Fund had a $6.9 million balance at the end of fiscal year 2012-13. That balance will be down to $3.7 million by July of 2014, and if the County makes no changes to the way it operates, the balance will drop to $100,000 by July of 2015. This downward trend is due largely to increased costs in health insurance and retirement contributions, and has resulted in a structural deficit in the County's budget — ongoing costs exceeding our income. The structural deficit needs to be addressed because it is not fiscally responsible to leave that small amount of money in such a significant fund.
The good news is that we are not in a crisis. However, it is a good idea to make some changes. That's where you come in. County staff is looking at ways to save money, but we are also looking for ideas from citizens. We invite you to take a look at the above information and handouts, and to watch the Community Budget Meeting Video. Most importantly, please take a moment to fill out the following survey and share your ideas on how we can achieve financial sustainability.
|Budget Meeting Handout|