File #: 23-4040    Version: 1 Name: Quarterly Update of the Long-Term Revenue Forecast
Type: Report Status: Held / Deferred in Committee
File created: 7/11/2023 In control: Finance Committee
On agenda: 7/20/2023 Final action:
Title: REPORT Department: Chief Financial Officer Report Title: Quarterly Update of the Long-Term Revenue Forecast Report Period: FY2023-FY2027 Summary: The following report provides an update between the Long-term Financial Plan provided to the Independent Revenue Forecasting Commission (IRFC) and posted on the County's website in April 2023, and the most up-to-date forecast. This report includes a variance analysis comparing the two forecasts and provides an explanation for the significant variances, along with additional supporting details outlining progress made on the County's sales tax projections. A summary of the impact of the revenue projections on our long-term expense projections for both the General and Health Funds is also included. In addition, the report provides a summary of the 2024 preliminary forecast. We conclude with FY2023 project plans and an update on recent regional and relevant economic activity.
Indexes: TANYA S. ANTHONY, Chief Financial Officer, Bureau of Finance
Attachments: 1. Quarterly Update of the Long-Term Revenue Forecast June 2023

title

REPORT

 

Department:  Chief Financial Officer

 

Report Title:  Quarterly Update of the Long-Term Revenue Forecast

 

Report Period:  FY2023-FY2027

 

Summary:  The following report provides an update between the Long-term Financial Plan provided to the Independent Revenue Forecasting Commission (IRFC) and posted on the County’s website in April 2023, and the most up-to-date forecast. This report includes a variance analysis comparing the two forecasts and provides an explanation for the significant variances, along with additional supporting details outlining progress made on the County’s sales tax projections. A summary of the impact of the revenue projections on our long-term expense projections for both the General and Health Funds is also included. In addition, the report provides a summary of the 2024 preliminary forecast.  We conclude with FY2023 project plans and an update on recent regional and relevant economic activity.

 

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