San Mateo County's revenue rose by $22 million during the 2021-2022 fiscal year while expenses fell by nearly $200 million, primarily driven by a reduction in COVID-19-related expenses, county finance officials said Friday.
San Mateo County's COVID-related expenses fell by $156 million, according to the county's 2021-2022 Annual Comprehensive Financial Report, which is issued by the county Controller's Office.
COVID-related expenses were so much higher during the 2020-2021 fiscal year, according to county officials, because the county allocated funding toward, among other things, the acquisition of hotels and other buildings to shelter residents at risk of infection, labor costs and a program that provided meals to older adults at higher risk of contracting COVID.
In total, the county's revenue rose 1 percent between the 2020-2021 fiscal year and 2021-2022 to $2.49 billion, while expenses fell 9 percent to $1.99 billion.
The county also released its financial highlights report for the 2021-2022 fiscal year, which summarizes the more granular information in the comprehensive financial report.
"Providing transparent and useful information about the County's financial activities to taxpayers and residents is important to us," county Controller Juan Raigoza said. "These two annual reports help us to do that."
The county's financial reports can be found at https://www.smcgov.org/controller.