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1 <br /> ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> ACTION AGENDA ITEM ABSTRACT <br /> Meeting Date: November 12, 2020 <br /> Action Agenda <br /> Item No. 1 <br /> SUBJECT: Financial Report for the First Quarter of FY 2020-21 <br /> DEPARTMENT(S): Finance and Administrative <br /> Services <br /> ATTACHMENT(S): INFORMATION CONTACT: <br /> Gary Donaldson, (919) 245-2453 <br /> 1. Narrative: Financial Report for the Paul Laughton, (919) 245-2152 <br /> First Quarter of FY 2020-21 <br /> 2. PowerPoint <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 /> 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 /> FINANCIAL IMPACT: There is no financial impact in receiving this Financial Report. <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 /> ENVIRONMENTAL IMPACT: There is no environmental impact from approval of this action. <br /> RECOMMENDATION(S): The Manager recommends that the Board of Commissioners receive <br /> this Financial Report. <br />