• Restoring the Inyo County Free Library’s book buying budget to FY 2003-2004 levels (exclusive of inflation)

• Setting aside funding to minimize the impact of anticipated increases in employee retirement costs

• Making provisions for beginning to address the unfunded retiree health liability charges the County will be mandated to recognize in the future

• Increasing the County’s General Reserve and Economic Stabilization funds beyond the amount provided by interest accruals

• Dedicating sufficient staff or fiscal resources to aggressively pursue affinity projects not associated with core County services

• Beginning to address the myriad of department needs, identified in the Statements of Underfunding submitted with this year’s budget narratives but not included in the Department Requested budgets

• Identifying funds that may be necessary to even consider demands that will arise during upcoming negotiations with the Deputy Sheriff’s Association

STEPS TAKEN TO BALANCE THE CAO RECOMMENDED BUDGET

The FY 2007-08 CAO Recommended Budget is balanced by using a combination of Fund Balance, Operating Transfers from the Geothermal Royalties Fund and Criminal Justice Facilities Trust, and savings associated with personnel actions; including anticipated salary savings from currently vacant staff positions.

Fund Balance

The Auditor-Controller has certified the General Fund Balance for the Fiscal Year ending June 30, 2007, as $3,134,602. The General Fund Balance is being used to fill the $3,134,602 deficit that exists between projected income and projected expenses in the FY 2007-08 CAO Recommended General Fund Budget. This year’s Fund Balance is $509,847 lower than the $3,644,449 used to balance the County’s FY 2006-07 General Fund Budget.

While many components, including accounts receivable, prior years’ encumbrances, and claims on cash, factor into the Fund Balance calculation, a simplified analysis shows the County’s Fund Balance can be primarily attributed to salary savings, lower-than-anticipated expenditures in other categories of expenses, and coming close to achieving budgeted revenues.

Salary Savings

Use of anticipated salary and benefit savings, tied to currently vacant staff positions, is routinely employed as part of the budget process to reduce the size of the shortfall that exists between the Department Requested and CAO Recommended budgets. (This year, the CAO Recommended Budget

FY 2007-2008 CAO Recommended Budget

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Last Updated: October 24, 2007