Browse
Search
Agenda 05-20-25; 12-2 - Information Item - Memorandum - Financial Report - Third Quarter FY 2024-25
OrangeCountyNC
>
BOCC Archives
>
Agendas
>
Agendas
>
2025
>
Agenda - 05-20-2025 Business Meeting
>
Agenda 05-20-25; 12-2 - Information Item - Memorandum - Financial Report - Third Quarter FY 2024-25
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
5/15/2025 10:53:09 AM
Creation date
5/15/2025 10:42:35 AM
Metadata
Fields
Template:
BOCC
Date
5/20/2025
Meeting Type
Business
Document Type
Agenda
Agenda Item
12-2
Document Relationships
Agenda for May 20, 2025 BOCC Meeting
(Message)
Path:
\BOCC Archives\Agendas\Agendas\2025\Agenda - 05-20-2025 Business Meeting
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
8
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
4 <br /> represents a Budget versus Actual metric of 68%, considerably higher than Table 1 above which includes <br /> State grants. The higher Federal reimbursement rate is attributed to increased County diligence in drawing <br /> down Federal funds. <br /> In terms of FY 2024-25 revenue recognition, the Governmental Auditing Standards Board allows for a two- <br /> month revenue recognition period for intergovernmental revenues; therefore, Finance can record <br /> intergovernmental revenue up through August 31, 2025. A key communication to all County departments <br /> has been to apply and submit remaining draw requests as soon as allowed and practical. <br /> Table 2 below represents the programs being monitored based on our third quarter meetings. These <br /> programs represents $3.2 million remaining to be reimbursed. The expectation is that these funds will be <br /> received but their listed here for tracking purposes. <br /> Table 2: Programs Being Monitored by County Staff <br /> Yellow-Potential Risk <br /> Child Support Enforcement and Social Services Notices of delay by several business days <br /> Emergency Solutions Grant Potential grant funding cuts within HUD <br /> Cooperative Fair Housing Assistance Program Potential grant funding cuts within HUD <br /> Continuum of Care Housing: Planning Potential grant funding cuts within HUD <br /> Continuum of Care Housing: Planning Potential grant funding cuts within HUD <br /> Continuum of Care Housing Program Potential grant funding cuts within HUD <br /> Continuum of Care Housing Program: Rapid Rehousing Potential grant funding cuts within HUD <br /> Continuum of Care Housing Program Potential grant funding cuts within HUD <br /> Disaster Grant-Public Assistance(COVID 19) Awaiting FEMA processing <br /> Police and Mental Health Collaborations for Diversion Program(1) Stop work order in effective March 2025 <br /> 1)Program funds expire September 30,2025 but County funded in FY 2025-26 <br /> • Investment Earnings are $1.6 million through the third quarter compared to the budget of$1.8 million. <br /> This budget will be met by the fiscal year end. The County's investment policy emphasizes safety, <br /> liquidity, and yield, in that priority order. The investment portfolio consists primarily of U.S. Treasuries, <br /> Federal Agencies, and Overnight Repurchase Agreements, which are all highly rated securities and <br /> comply with the North Carolina Permitted Investments statutes. The portfolio composition indicated <br /> below is currently yielding 4.23%through March 31. <br /> 4 <br />
The URL can be used to link to this page
Your browser does not support the video tag.