Minutes 05-11-2021 Virtual Budget Public Hearing and Work Session

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3 time emergency measures is not sustainable in the long-term, and some use one-time revenue from American Rescue Plan Act (ARPA) to pay for ongoing expenses. She resumed the presentation: Slide #3 ORANGE COUNTYFY2021-22 BUDGET • Historical General Fund Revenues and Expenditures u � ORANGE COUNTY Bonnie Hammersley said County revenues exceeded expenditures for three of the last four fiscal years. She said FY 2019-20 are the audited results showing revenues above expenditures, and General Fund revenues were .8% less than the amended budgeted amount. She said the final budget reflects the addition of Round 1 of CARES Act Funding, which the GASB requires to remain as unearned revenue until spent—$1.3 million was deferred revenue. She said expenditures for many functional areas were less than budgeted by $10.1 million (4.3%) from the operating budget. She said several departments came in under budget, due to personnel vacancies and efforts to spend conservatively. She resumed the presentation: Slide #4 ORANGE COUNTYFY2021-22 BUDGET • Projected General Fund Revenues and Expenditures ORANGE COUNTY Bonnie Hammersley said FY 2020-21 is projected to end with breakeven results. She said the adherence to cost containment measures, including required hiring freezes and an improving sales tax forecast, as COVID restrictions are lifted will contribute to the County's ending position. She said the future year projections reflect an improved post COVID economy; 4-5% sales tax growth in future years and 2% property tax growth. Bonnie Hammersley said the total recommended operating budget including the general fund, enterprise fund, and proprietary fund, and special revenue fund total $279.2 million. She said, of this amount, $244.1 million is the general fund. She said the total represents an increase of $5 million over the FY21 budget. She resumed the presentation: