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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
County of Nevada

Board Of Supervisors

Fiscal Report

January 27, 2003

(UNAUDITED)

county of nevada1
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 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

june 30 2002 perspective
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
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
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
uncertainties threats
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
State Budget Impacts
  • MVLF Backfill Elimination
  • Realignment 2
  • Others
potential contingency actions
Potential Contingency Actions
  • Intensified Vacancy Review
  • RIF through attrition
  • No New FTEs in 2003/04 Budget
  • No Supplementals in 2003/04 Budget
recap
Recap

Vigilance

county of nevada2
County of Nevada

Board Of Supervisors

Fiscal Report

January 27, 2003

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