The third quarter of 2022 continues to leave the County in a strong financial position with continued growth in revenues. The County recognized $258.2 million or 73.1% of budgeted revenues through the third quarter. This mirrored the percentage of total budgeted revenues collected through the third quarter when compared to the previous year, though we collected $13.6 million more in total dollars due to an expanded total budget. The County expended $214.7 million, or 60.8% of budgeted expenditures compared to 57.0% through the same quarter last year. This increased percentage of total spending could be attributable to timing differences and increasing prices and costs. Due to the third quarter revenue amount over expenditures of $43.5 million, we expect the year to finish with an overall addition to fund balance. This will be the third year in a row the County has had a surplus. The previous two years added $51.5 million combined to fund balance and this year may add a considerable amount more.
