County of San Mateo - File #: 18-119

• File #: 18-119
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 2/13/2018
• Departments: COUNTY MANAGER
• On agenda: 2/27/2018
• Final action: 2/27/2018
• Title: Recommendation regarding Mid-Year Budget Report and Five-Year Capital Improvement Plan: A) Accept the FY 2017-18 County Budget Update, including key revenue and expenditure projections and budget assumptions; and B) Accept the Proposition 172 Maintenance of Effort Certification; and C) Accept the Five-Year Capital Improvement Plan; and D) Authorize an Appropriation Transfer Request in the amount of $690,000 for the purchase of additional public open space on Sign Hill in South San Francisco; and E) Authorize an Appropriation Transfer Request in the amount of $185,000 for the Measure K Communications Officer position and Measure K Coordinator position; and F) Authorize an Appropriation Transfer Request in the amount of $250,000 for Cannabis Outreach; and G) Authorize an Appropriation Transfer Request in the amount of $177,000 for Capital Projects funding.

Date	Ver.	Action By	Action	Result
2/27/2018	1	BOARD OF SUPERVISORS	adopted	Pass

Special Notice / Hearing: None__
Vote Required: Majority

To: Honorable Board of Supervisors
From: John L. Maltbie, County Manager
Mike Callagy, Assistant County Manager
Subject: FY 2017-18 Mid-Year Budget Report and Five-Year Capital Improvement Plan

RECOMMENDATION:
title
Recommendation regarding Mid-Year Budget Report and Five-Year Capital Improvement Plan:

A) Accept the FY 2017-18 County Budget Update, including key revenue and expenditure projections and budget assumptions; and

B) Accept the Proposition 172 Maintenance of Effort Certification; and

C) Accept the Five-Year Capital Improvement Plan; and

D) Authorize an Appropriation Transfer Request in the amount of $690,000 for the purchase of additional public open space on Sign Hill in South San Francisco; and

E) Authorize an Appropriation Transfer Request in the amount of $185,000 for the Measure K Communications Officer position and Measure K Coordinator position; and

F) Authorize an Appropriation Transfer Request in the amount of $250,000 for Cannabis Outreach; and

G) Authorize an Appropriation Transfer Request in the amount of $177,000 for Capital Projects funding.

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BACKGROUND:
We are pleased to report that San Mateo County is in sound financial condition. We closed FY 2016-17 with a $31 million surplus contributing to a General Fund reserve of $190 million, 11.3 percent of Net Appropriations. Combined reserves and contingencies in all funds are $404.6 million. For the third consecutive year, property tax revenue growth exceeded seven percent, and construction activity for the next 24 months is projected to remain strong. Activity at the San Francisco International Airport is near capacity and the new Grand Hyatt Hotel is expected to be opened in 2019. Growth in general purpose sales tax revenue has leveled off at approximately $24.5 million a year. Strong equity markets are producing double-digit returns. The County remains on track to significantly reduce the Coun...