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County of Nevada. Board Of Supervisors Fiscal Report January 27, 2003. (UNAUDITED). County of Nevada. Significant Fiscal Events To Date In 2002/2003 Operating Results Through 12/31/02 Fiscal Uncertainties and Threats Potential Contingency Actions. Fiscal Position 6/30/2002.

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County of Nevada

Board Of Supervisors

Fiscal Report

January 27, 2003

(UNAUDITED)


County of Nevada

  • Significant Fiscal Events To Date In 2002/2003

  • Operating Results Through 12/31/02

  • Fiscal Uncertainties and Threats

  • Potential Contingency Actions

  • Fiscal Position 6/30/2002


2001/2002 Fiscal Results

  • 2001/2002 Ended Modestly Better than Anticipated

General Fund Revenues Exceeded Expenditures:

Note: $1.3 Million in One-Time GASB 34 Residual Equity Transfers from Closed Funds


General Fund Discretionary Revenues


General Fund Discretionary Revenues


2001/02 General Fund Revenues by Source


2001/02 General Fund Expenditures by Category


2001/02 Other Operating Funds


2001/02 Expenditures By Department


GF Fund Balance


Realignment Special Revenues


Road/MVLF/Measure F/CIP


June 30, 2002 Perspective

  • General Fund Results for 2001-2002 Improved the Picture by $2,354,000, Allowing for Recommendation to Fund Expected PERS Cost Increases

  • Discretionary Revenues Continued Modest Upward Trend in 2001-2002

  • Other Operating Funds Also Ended 2001-2002 Positively

  • Road CIP Funding Positive

  • HSA & Environmental Health Fund Balances Available to Backfill

  • Financially Solvent


2002/2003 Budget Fiscal Position & Plan

  • Prepared to Maintain Current Levels of Service to Citizens absent Negative State Actions

  • Balanced 02/03 Budget Along With Increase in Reserves for Technology, Space, and un-funded Liabilities

  • Financially Solvent


2002/2003 Mid-Year Significant Fiscal Events

  • Certain Fund Balance Changes & Recommendations

  • Release of 6/30/02 Encumbrances & Associated Reduction in Supplemental Appropriations

  • Positive Impact of Vacancy Elimination

  • Positive Consolidated Budget Amendment #1

  • Memorandums of Understanding with Certain Bargaining Units

  • Commitments for Certain Separation Payments


2002/2003 Budget Changes to GF Fund Balance


2002/2003 Changes to Contingency Budget


Q2 2002/2003General Fund Discretionary Revenues


Q2 2002/2003 General Fund Expenditures by Category


Q2 General Fund Revenue/Expenditures


Q2 2002/03 Other Operating Funds


Uncertainties/Threats

  • PERS

    • Miscellaneous 2003/04 2.7% 2004/05 7.5%

    • Miscellaneous Each 1% Approximately $400K

    • Public Safety 2003/04 4.3% 2004/05 13.5%

    • Public Safety Each 1% Approximately 40K

    • Public Safety Move to 3% @ 50

  • MOUS

  • Results/Costs of Lawsuits

  • IHHS Public Authority Escalating Costs

  • CSS Incentive Revenue Return to State

  • Space Needs


State Budget Impacts

  • MVLF Backfill Elimination

  • Realignment 2

  • Others


Potential Contingency Actions

  • Intensified Vacancy Review

  • RIF through attrition

  • No New FTEs in 2003/04 Budget

  • No Supplementals in 2003/04 Budget


Recap

Vigilance


County of Nevada

Board Of Supervisors

Fiscal Report

January 27, 2003


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