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.
Please note this measure is updated in Q3 of each year. Economic uncertainty and high inflation clouded the financial picture for the County during 2022. Departments and elected offices grappled with increasing prices for labor, materials, and services which had a direct impact on the budget for 2022 as well as developing the 2023 budget. The budget was once again structurally balanced, but not all requests could be addressed with the available funding.
Another significant factor impacting the budget for 2022 and 2023 was the establishment of a single-county health department from scratch. This was a major effort that required the assistance of a number of departments in order to make sure the year-end transition went smoothly, and the new health department was fully staffed and funded.
The availability of federal pandemic assistance funds from ARPA and from the Emergency Rental Assistance program have allowed for the continued support of the community and strategic one-time investments and it is anticipated that this funding will be available through 2024 as these projects progress.
There is still concern about the availability of sufficient revenue to meet the county’s needs as well as prepare for the impending transition of the judicial district and District Attorney’s Office and funds were once again set-aside out of the 2023 budget to help with that effort.