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 |
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Service Name |
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Current Fiscal Year Cost |
Annual Fiscal Cost |
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Labor |
Non-Labor |
Total |
Recurring Expenses |
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Funding Sources |
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Existing Budget |
|
|
|
|
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Total Current Budget |
$ |
$ |
$ |
$ |
|
Additional Budget Request (Requires Fiscal Review Request Form) |
|
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Choose an item. |
$ |
$ |
$ |
$ |
|
Total Additional Budget Request |
$ |
$ |
$ |
$ |
|
Total Funding Request |
$ |
$ |
$ |
$ |
|
Personnel (Fill out section only if requesting new PCNs) |
|
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Current Position Count for Service |
- |
- |
- |
- |
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Additional Positions Request |
- |
- |
- |
- |
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Total Personnel |
- |
- |
- |
- |
Anticipated Court Date: June 4, 2024
Anticipated Implementation Date (if different from Court date):
Emergency/Disaster Recovery Note: Not an emergency, disaster, or COVID-19 related item
Contact(s) name, title, department: Daniel Ramos, Executive Director, Office of Management and Budget
Attachments (if applicable):
Final Report Presentation, filename “240501 Harris County - 5-Yr Financial Plan Update vShareExtended.pdf”