The Board of Supervisors on Tuesday held a budget workshop to review the County’s mid-year financial status, provide direction on the upcoming two-year budget, discuss the Fund Balance and Reserves policies, and review the proposed community impact measures.
The mid-year financial status section included a report on key local economic and quality of life indicators that show the local economy as well as the budget outlook for San Mateo County improving. Read the full report.
Downtown San Bruno
The report, prepared by the County Manager’s Office, takes a snapshot of the economy and budget at the half-way point of the current fiscal year, which began July 1, 2012. The Board reviews the budget at mid-year to ensure revenues and expenditures are in accordance with estimates and to provide direction to the County Manager regarding preparation of the next budget.
San Mateo County continues to hold the distinction of being the only county in the state with AAA ratings from Moody’s and Standard and Poor’s.
Through the direction of this Board, tremendous work by department administrators and staff, and an improving economic landscape, the County’s structural deficit has been significantly reduced over the past two years. Since 2008 the County has reduced its workforce by 727 authorized positions and held salaries flat for most bargaining units while maintaining critical services and providing outstanding public service.
The report tracks the following local economic indicators:
Bay Area Consumer Price Index (CPI)
First-Time Housing Affordability Index
Median Home Price and Home Sales
Foreclosure Activity
Property Reassessment and Assessment Appeal Filings
Building Permits Issued
Office Space Availability
San Francisco International Airport – Total Passengers
Unemployment Rate
Per Capita Personal Income
The report also tracks the following local public safety and safety net (what some call quality of life) indicators:
Jail and Juvenile Hall Populations
PeninsulaWorks Participants
Public Assistance Caseloads
Child Abuse Referrals
Emergency Room Visits
Health Insurance Enrollment Adults and Children
