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Mitchell D. Roth <br />Mayor <br />Diane Nakagawa <br />Director <br />Aaron K. H. Brown <br />Deputy Director <br />County of Hawaii <br />Finance Department <br />25 Aupuni Street, Suite 2103 • Hilo, Hawaii 96720 <br />(808) 961-8234 • Fax (808) 961-8569 <br />_5 <br />November 15, 2024 <br />Heather Kimball, Council Chair and <br />Members of the Hawaii County Council - <br />Hawai`i County Council <br />25 Aupuni Street <br />Hilo, Hawaii 96720 <br />Re: Fund Balance Notification for June 30, 2024 <br />Pursuant to Hawai'i County Code Section 2-12.4, I am transmitting the June 30, 2024, fund <br />balance information: <br />Fund Balance $ 174,911,022.65 <br />Fund Balance Designated for Future Year 37,577,091.00 <br />Total Budgetary Fund Balance, June 30, 2024 212.488.113.65 <br />The fund balance is primarily the result of the higher than expected collections in real property <br />tax, transient accommodations tax, and interest revenues. Difficulties in filling positions have <br />also caused lower than anticipated expenditures in salaries and wages. Another component of <br />the fund balance is the unappropriated fund balance from the prior fiscal year. <br />This fund balance will be necessary in meeting next year's budgetary needs as well as other <br />expected financial obligations. Balancing the fiscal year 2025-26 budget will continue to be <br />challenging given the current economic climate which has caused most of our costs to rise, as <br />well as accounting for potential changes to all eight collective bargaining units. <br />Should you have any questions regarding this information, please feel free to contact me. <br />Diane Na agawa <br />Finance Director <br />Cornr�. No. 25 <br />e,To <br />kct` Hawaii County is an Equal Opportunity Employer and Provider,ce <br />