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I <br />ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br />ACTION AGENDA ITEM ABSTRACT <br />Meeting Date: March 24, 1992 <br />SUBJECT: <br />1991 -1992 Budget Status <br />DEPARTMENT Manager /Budget <br />-------------------------------- <br />ATTACHMENT (g) <br />Action Agenda <br />Item No vII - (3 <br />' ` +`_ " <br />PUBLIC HEARING YESNO s`__ <br />INFORMATION CONTACT <br />Budget Budget Office 2151 <br />Report on Current Year Bud <br />4 TELEPHONE NUMBER <br />Hillsborough 732 -8181 <br />Chapel Hill 968 -4501 <br />Mebane 227 -2031 <br />Durham 688 -7331 <br />PURPOSE: To receive a report on the status of the current year budget <br />and to communicate to the Board what actions the Manager plans in order <br />to ensure that the County maintains its favorable financial condition. <br />BACKGROUND: Since the beginning of the fiscal year we have been <br />closely monitoring the monthly general expenditures and revenue line <br />items. More stringent monitoring was prompted by our concern for the <br />general state of the economy, the lack of data from the State regarding <br />the exemption (through reimbursements) of the State from paying the <br />local option sales taxes (and therefore the inability to estimate the <br />impact of this action), and declining interest rates on the County's <br />investments. <br />The attached report provides an update of the current year revenue and <br />expenditure estimates. <br />RECOMMENDATION(S): The Manager recommends that the Board receive the <br />report for information only. <br />