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ORANGE COUNTY <br />BOARD OF COMMISSIONERS <br /> <br />ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: November 12, 2020 <br /> Action Agenda <br /> Item No. 1 <br /> <br />SUBJECT: Financial Report for the First Quarter of FY 2020-21 <br /> <br />DEPARTMENT(S): Finance and Administrative <br />Services <br /> <br /> <br />ATTACHMENT(S): INFORMATION CONTACT: <br /> <br />1. Narrative: Financial Report for the <br />First Quarter of FY 2020-21 <br />2. PowerPoint <br /> <br /> Gary Donaldson, (919) 245-2453 <br />Paul Laughton, (919) 245-2152 <br /> <br /> <br />PURPOSE: To provide a quarterly financial report to the BOCC and Manager on First Quarter <br />General Fund, Special Revenue and Enterprise Funds for the period July 1, 2020 through <br />September 30, 2020. <br /> <br />BACKGROUND: The COVID-19 induced recession resulted in County measures as part of the <br />FY 2020-21 Adopted Budget. This first quarter report provides a status of Revenue and <br />Expenditure of the County’s Operating Funds as compared with the prior fiscal year. Budget <br />versus Actual financial analysis are a key focus to identify and report any material performance <br />variances. <br /> <br />FINANCIAL IMPACT: There is no financial impact in receiving this Financial Report. <br /> <br />SOCIAL JUSTICE IMPACT: The following Orange County Social Justice Goal is applicable to <br />this agenda item: <br />• GOAL: ENSURE ECONOMIC SELF-SUFFICIENCY <br />The creation and preservation of infrastructure, policies, programs and funding necessary <br />for residents to provide shelter, food, clothing and medical care for themselves and their <br />dependents. <br /> <br />ENVIRONMENTAL IMPACT: There is no environmental impact from approval of this action. <br /> <br />RECOMMENDATION(S): The Manager recommends that the Board of Commissioners receive <br />this Financial Report. <br /> <br />1