Page 142 - AugDefComp

COUNTY OF SAN MATEO
DEFERRED COMPENSATION
2020-21 BUDGET

ACTUAL APPROVED ACTUAL RECOMMENDED FORECAST FORECAST FORECAST FORECAST
SOURCE OF FUNDS 2018-19 (a) 2019-20 2019-20 (b) 2020-21 2021-22 (c) 2022-23 (c) 2023-24 (c) 2024-25 (c)

Beginning Fund Balance
Reserve: Operating Expenses (d) 339,697 40,400 291,117 44,650 32,150 36,900 49,400 36,900
Reserve: Next Request For Proposals - 50,000 - 50,000 50,000 50,000 - 50,000
Unrestricted - 200,717 - 162,818 150,567 102,066 45,815 (35,436)

BEGINNING FUND BALANCE, TOTAL 339,697 291,117 291,117 257,468 232,717 188,966 95,215 51,464
REVENUES
Provider Reimbursement (e) 82,917 94,740 84,219 103,849 103,849 103,849 103,849 103,849
REVENUES, TOTAL 82,917 94,740 84,219 103,849 103,849 103,849 103,849 103,849

SOURCE OF FUNDS, TOTAL 422,614 385,857 375,336 361,317 336,566 292,815 199,064 155,314

USE OF FUNDS
EXPENDITURES
Consultant Services 61,724 62,000 62,480 62,000 62,000 112,000 62,000 62,000
NAGDCA Membership Dues 600 600 600 600 600 600 600 600
NAGDCA Conference, Other Trainings 11,662 20,000 6,558 1,000 20,000 20,000 20,000 20,000
Insurance Premium 30,998 31,000 18,869 20,000 20,000 20,000 20,000 20,000
Financial Reporting - 5,000 - 5,000 5,000 5,000 5,000 5,000
Financial Audit - 10,000 - 10,000 10,000 10,000 10,000 10,000
Staffing (f) 26,513 50,000 29,361 30,000 30,000 30,000 30,000 30,000
EXPENDITURES, TOTAL 131,497 178,600 117,868 128,600 147,600 197,600 147,600 147,600

ANNUAL SURPLUS/(DEFICIT) (REVENUES-EXPENDITURES) (48,580) (83,860) (33,649) (24,751) (43,751) (93,751) (43,751) (43,751)

Ending Fund Balance
Reserve: Operating Expenses (d) 40,400 44,650 44,650 32,150 36,900 49,400 36,900 36,900
Reserve: Next Request For Proposals 50,000 50,000 50,000 50,000 50,000 - 50,000 50,000
Unrestricted 200,717 112,607 162,818 150,567 102,066 45,815 (35,436) (79,186)

ENDING FUND BALANCE 291,117 207,257 257,468 232,717 188,966 95,215 51,464 7,714
USE OF FUNDS, TOTAL 422,614 385,857 375,336 361,317 336,566 292,815 199,064 155,314

(a) Based on audited 2018-19 year-end close
(b) Based on unaudited 2019-20 year-end close reports
(c) Uses 2020-21 dollars; no assumed growth in assets, revenues or costs
(d) Equals 25% of each year's EXPENDITURES, TOTAL
(e) 2019-20 based on 3/31/19 assets of $468,447,883 less loans of $7,414,961; 2 bps; no assumed growth in assets
(f) Includes 0.20 Fiscal Office Specialist, 0.20 Web Technician