Department: Management and Budget
Department Head/Elected Official: Daniel Ramos
Regular or Supplemental RCA: Regular RCA
Type of Request: Discussion Item
Project ID (if applicable): 210317
Vendor/Entity Legal Name (if applicable): Boston Consulting Group, Inc.
MWDBE Contracted Goal (if applicable): 10%
MWDBE Current Participation (if applicable): 10%
Justification for 0% MWDBE Participation Goal: N/A - Goal not applicable to request
Request Summary (Agenda Caption):
title
Request for presentation of and possible action on recommendations from the recently completed 5-year financial plan.
end
Background and Discussion:
The Office of Management and Budget engaged Boston Consulting Group (BCG) to prepare a financial plan including a 5-year financial projection for the County's General Fund and potential opportunities to bridge potential shortfalls. Under most scenarios evaluated, projections show future year deficits in the County's General Fund unless decisions are made to reduce spending growth and/or find additional revenue.
OMB requests to review the report findings and specific initiatives and to receive guidance and approval from the Court to implement selected projects.
Expected Impact:
OMB anticipates significant cost savings and revenue enhancement from the identified initiatives but the actual financial impact depends on which options are selected for implementation.
Alternative Options:
Delay or don't implement the recommended initiatives and seek different options to bridge the projected financial shortfalls.
Alignment with Goal(s):
_ Justice and Safety
_ Economic Opportunity
_ Housing
_ Public Health
_ Transportation
_ Flooding
_ Environment
X Governance and Customer Service
Prior Court Action (if any):
Date
Agenda Item #
Action Taken
12/19/2023
23-7464
Passed
Location:
Address (if applicable):
Precinct(s): Countywide
Fiscal and Personnel Summary
Service Name
Current Fiscal Year Cost
Annual Fiscal Cost
Labor
Non-Labor
Tota...
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