4 components (balanced budget, adequate reserves, diverse revenues and strong bond rating) that provide an index score that gauges the County’s annual budget health.
The Financial Health Index provides an approximate assessment on the County’s overall financial health.
Medium – the County operates in a fiscally responsible manner but some components that go into the Financial Health Index are influenced by outside economic conditions.
Despite a turbulent economic situation as a result of the COVID-19 pandemic, the County continues to focus on fiscal sustainability and responsibility by structurally balancing its annual operating budget, maintaining adequate reserves, not relying on on just a few key revenues, and maintain or improving its creditworthiness. The pandemic impacted a number of revenue streams both positively and negatively. It also put pressure on County programs and services to modify their method of operations to cope with mitigating the pandemic, maintaining social distancing while providing critical government services. Supplemental grant revenue from the Federal government proved key in funding key pandemic related services and programs and enabled the County maintain its reserve level.