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Set a hearing for the first quarter Fiscal Year 2001-02 Budget Update and FY 2002-03 Budget Workshop No. 1, as follows:
a) Accept and file, per the provisions of Government Code § 29126.2, the FY 2001-02 Financial Status Report as of September 30, 2001 showing the status of appropriations and financing for all departmental budgets adopted by the Board of Supervisors;
b) Accept an update on the forecasted FY 2001-02 financial condition on June 30, 2001, significant exposures facing the County and some leading indicators of possible financial challenges facing the County in FY 2002-03;
c) Approve Budget Principles to be used in developing the FY 2002-03 Operating Budget;
d) Review and provide direction as appropriate on Budget Expansion Requests deferred until after the First Quarter during the June 2001 Budget Hearings for FY 2001-02;
e) Receive an overview of three important discretionary revenue sources (Sales Tax, Transient Occupancy Tax and Property Taxes) from the Auditor-Controller.
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