Determine whether County officials effectively managed the County's financial condition to ensure the sustainability of current and future operations.
The County has:
- Experienced planned operating deficits totaling $81.1 million over the last five years. Financial condition continued to decline in 2017 when it experienced an operating deficit of $32.2 million in the general fund.
- Cash balances that have declined by 54 percent during the audit period, from $180.2 million in 2013 to $83.7 million in 2017.
- A debt service obligation of $159.8 million in 2017 (7.6 percent of the budget), an increase of $25.1 million (18.6 percent) since 2013. These obligations included $11.8 million in recurring operating expenditures over the past five years that were underbudgeted for in the 2015 and 2017 annual budgets.
- The general fund owes the sewer funds approximately $50 million.
- Increase recurring revenues or decrease recurring expenditures so that perations are financed on a sustainable basis.
- Take measures to help ensure adequate fund balance and cash flow to phase out reliance on short-term debt and advances from other funds.
- Discontinue the practice of using one-time revenues to finance recurring expenditures.
- Repay the advances made from the sewer funds to the general fund.