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From YouTube: FY18 Closeout Presentation
Description
Tyler Smith from Arlington County Department of Management and Finance makes a presentation to the Arlington County Board on the financial results and close-out for the fiscal year ending June 30 2017. Recorded on October 24 2017.
A
So
making
the
presentation
this
evening
is
Tyler
Smith
from
the
department
of
management
and
Finance
welcome
good
evening.
This
presentation
will
give
a
quick
summary
of
the
county
managers
closeout
recommendations.
Again,
the
fiscal
year
ended
with
a
balanced
budget.
Expenses
were
below
projections
and
revenue
is
slightly
higher
than
anticipated.
A
In
total,
we
ended
the
year
with
a
hundred
and
eighty
six
point:
four
million
in
fun
balance
overall
fund
balance
has
declined
since
FY
2014,
reflecting
a
tightening
between
budget
planning
and
execution
on
the
graph
on
this
page,
the
blue
bar
represents
restricted
funding,
which
this
year
comprises.
Ninety
four
percent
of
total
year-end
fund
balance.
This
restricted
funding
includes
reserves
legally
restricted
monies
and
other
funding
designated
by
the
county
board.
A
Departmental
savings
can
vary
from
year
to
year,
and
these
savings
contribute
to
your
and
fund
balance.
Savings
can
be
influenced
by
specific
events
such
as
bad
weather
staff
vacancies
or
changes
made
to
the
original
budget
plan
like
imposing
or
lifting
of
a
hiring
freeze.
For
the
last
five
years,
county
operating
savings
have
ranged
from
just
over
one
percent
to
approximately
three
and
a
half
percent.
A
It's
important
to
note
that
savings
do
not
occur
in
the
same
department
or
programs
year
over
year
in
FY,
17
departments
ended
this
year
with
just
5.3
million
in
savings
after
adjustments
for
unspent
grant
funds,
as
the
bar
chart
on
this
page
illustrates.
This
is
the
lowest
amount
of
savings
in
recent
years
and
again
reflects
the
tightening
of
departmental
expenditure
budgets.
A
Revenue
above
projections
also
contribute
to
year
on
fund
balance.
This
slide
illustrates
how
tax
revenue
varies
from
the
third
quarter.
Projections
estimated
in
early
spring
for
the
last
several
years,
actual
tax
revenue
receipts
averaged
just
over
1
percent
from
the
third
quarter.
Projections
FY
17
actual
tax
revenue
is
1.8
percent
higher
than
third
quarter
projections.
However,
this
variance
drops
to
1.3
percent
when
we
exclude
the
revenue
from
the
tax
rate
increase
that
wasn't
assumed
during
third
quarter.
Fy
17.
A
As
I
mentioned
earlier
this
year
we
ended
the
fiscal
year
with
fund
balance
totaling,
one
hundred
and
eighty
six
point,
four
million
the
majority
or
ninety
four
percent
of
this
is
restricted
or
has
already
been
allocated
per
current
county
board
policy
or
prior
board
action.
These
restricted
balances
are
carried
over
and
allocated
to
the
following
fiscal
year.
For
example,
maintaining
appropriate
reserves
are
critical
to
the
county's
triple
triple-a
rating.
We
carry
over
our
reserve
balances
to
the
following
fiscal
year
and
increase
funding
to
maintain
a
five
percent
general
fund
operating
reserve.
A
We
continue
to
maintain
our
commitment
to
schools
carrying
over
unspent
school
balances
into
the
next
fiscal
year.
Funds
designated
for
affordable
housing
and
other
restricted
monies
are
designated
to
the
following
fiscal
year
and
lastly,
there
are
projects
which
the
county
board
has
taken
action
on
or
appropriated
to
the
following
fiscal
year.
It
is
important
to
note
that
many
of
the
projects
funded
with
the
24.2
million,
for
example
the
fire
recruit
class,
to
name
one
example,
are
already
underway.
The
board
can't
reserve
the
appropriation
reverse
the
appropriation
without
reallocating
from
elsewhere
to
fund
these
items.
A
After
carrying
over
reserves
and
other
restricted
funding,
there
is
approximately
11
point
1
million
available
for
other
uses.
This
is
the
lowest
available
discretionary
balance
in
recent
years,
down
from
2.4
percent
or
17
point
8
million
from
last
fiscal
year.
The
pie
chart
illustrates
the
county
manager
recommendations
to
several
key
areas,
and
the
next
slide
provides
some
additional
detail.
As
you
can
see,
a
significant
portion
of
the
available
funding
is
being
recommended
to
be
allocated
to
affordable
housing
for
the
FY
19
budget.
A
As
I
mentioned,
5.2
million
is
being
recommended
to
be
a
set-aside
for
a
have
funding
for
the
FY
19
budget
for
comparison
and
FY
18,
a
half
one-time
funding
totals
10.1
million.
The
remaining
funding
has
been
recommended
is
being
recommended
to
be
allocated
to
for
high-priority
needs.
In
FY
18,
2
million
is
Rec
to
fund
critical
life.
Safety
needs
a
review
of
critical
and
secure
critical
security
systems
at
the
Justice
Center
to
determine
that
some
systems
need
to
be
updated
immediately
to
provide
continued
safety
and
access
to
the
detention
center
and
court
buildings.
A
A
This
slide
presents
an
alternative
option
for
the
county
boards
consideration
based
on
guidance
the
county
manager
received
during
the
FY
2018
budget
adoption.
The
option
on
this
page
leaves
5.2
million
unallocated
for
the
county
board
to
consider
during
the
FY
19
budget
process,
the
county
manager
is
recommending
the
county
board
continue
to
fund
the
four
high-priority
FY
18
needs,
which
include
the
critical
technology
security
upgrades
required
at
the
courts
in
detention
center.