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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 />