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3 <br /> FC-85 Page 4 November 3,2021 <br /> i <br /> Mr. Chung then asked if the three percent TAT will be in lieu of previous amounts or if it will <br /> supplement what the County is entitled to. Ms. Sako stated that the three percent tax will replace the <br /> $19,158,000 previously received from the state. Mr. Chung then asked where in the enabling legislation <br /> outlines that information, and Ms. Sako stated she did not have that information currently with her. <br /> Mr. Inaba requested that Ms. Sako clarify whether the prepared fiscal year budget included TAT funds. j <br /> Ms. Sako stated that Finance anticipated that the County would not receive the TAT funds from the state <br /> and so did not include it as a revenue source. Ms. Sako further explained that Finance also left out the <br /> OPEB contribution since the County would not need to pay the full amount for the fiscal year and were <br /> therefore able to keep a balanced budget. <br /> 3 <br /> 1 <br /> Per Mr. Inaba's request, Ms. Sako clarified that the County needs another revenue source to replace the <br /> $17,500,000 OPER payment. <br /> Your Committee on Finance is in accord with the purpose and intent of Bill No. 81, as amended to <br /> Draft 2, and recommends its passage on first reading. <br /> are <br /> AYES NOES ABS EX Respectfully submitted, <br /> CHUNG X <br /> DAVID X COMMITTEE ON FINANCE <br /> INABA x <br /> KANEALI`I-KLEINFELDER X <br /> KIERKIEWICZ X <br /> KIMBALL X MATT KANE `I-KLEINFELDER, CHAIR <br /> LEE LOY X <br /> RICHARDS X FC REPORT NO.: 85 <br /> VILLEGAS x ADOPTED: NOV-1 8 202 <br />