2008: subprime mortgage crisis causes collapse of real estate market, “great recession begins”...
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2008: Subprime mortgage crisis causesCollapse of real estate market,“Great Recession begins”
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
$550,000
$600,000
Net Position (Net Assets) Revenues Expenses
County of El Dorado Net Position,Total Revenues, & Total Expenses (thousands)
July 2010: Terri Daly started as ACAO
December 2010: Daly became CAO
ARRA grants were the most visible source of increased revenue in FY 2010 & 2011
October 2014: Daly forced to resign
CAO was Terri Daly
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
$500,000
$550,000
$600,000
Net Position (Net Assets) Revenues Expenses
County of El Dorado Net Position,Total Revenues, & Total Expenses (thousands)
2008: Resale Real Estate market collapsed, “Great Recession” began
July 2010: Terri Daly started as Assistant CAO
ARRA grants were the most visible source of increased revenue in FY 2010 & 2011
October 2014: Daly resigned (was forced out)
2005: New housing market began decline towardnear-zero growth
December 2010: Daly became CAO
County of El Dorado Government Net Position at end of year,Total Revenues, Total Expenses, Net Cash Flow
All data in thousands of dollars
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
NetPosition $436,016 $470,867 $527,095 $543,975 $525,375 $520,486 $481,418 $479,474 $480,431 $485,087
TotalRevenues $263,639 $288,375 $325,493 $304,520 $290,184 $312,725 $298,422 $298,960 $306,696 $316,067
TotalExpenses $219,789 $249,435 $269,096 $286,075 $302,658 $317,673 $313,129 $302,129 $304,239 $306,841
Net Cash Flow +$43,850 +$38,940 +$56,397 $18,445 -$12,474 -$4,948 -$14,707 -$3,169 +$2,457 +$9,226
Annual Change in
Net Position
+$42,083 +$34,851 +$56,228 +$16,879 -$18,600 -$4,949 -$39,008 -$1,944 +$957 +$4,656
Net Cash Flow = Total Revenues – Total Expenses Terri Daly’s years as CAO