FY 24 APPROVED OPERATING BUDGET

to address potential needs of the County and to achieve the highest possible public debt ratings.

D. Additional Recommendations

The Committee believes that its recommendations and forecasts should be reviewed and tested at fiscal year-end 2023 and throughout FY 2024 as it prepares its recommendations for FY 2025. Revisions in revenue estimates prepared by State or County agencies or supplemental budget authorizations occurring after the date of our report may require adjustment to these recommendations. Typically, the Committee’s focus has been on income tax revenues and property tax revenues. We have typically assumed static balances in the other budget areas but have tried to make the County aware of any significant areas of note. The Committee recognizes the County’s need to utilize our forecasts in long range budget planning. Given the uncertainties cited in this report, the County should continually monitor conditions in its current budget year and not rely upon this report beyond the fiscal year for which it is intended. Some further recommendations of the Committee include the following: 1. The County should continue to review its Water and Sewer Fund to ensure the underlying enterprise is self supporting and not at risk of becoming dependent on funding from the General Fund. IV. Acknowledgments The Committee cannot complete its task without expressing its sincere appreciation to all County employees who assisted the Committee in this endeavor. Particularly, the Committee wishes to thank Robert Sandlass, Treasurer, Rick Pernas, Deputy Treasurer and their staff, Kimberly Spence, Chief, Budget and Management and her staff, for their efforts in providing estimates and historical revenue data and for their careful and detailed explanations of the County's budgeting structure. The Committee 2. The County should review its debt guidelines to ensure they are set at appropriate levels and the criteria are relevant.

145