COM 0521.047 2002-2004 - Laserfiche WebLink

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'SV Oi H AL KONISHI CONSTANCF, R KIRIU County Clerk ~ Le~gislalire:ludtio~~ JAY MENDE Deputy County Clerk county of Hawai Office of the County Clerk 25 Aupuni Stree( Hilo, Hawaii 96720 Telephone: (808) 967-8386 Faceimi[e: (808) 961-8572 May 28, 2004 TO: Council Members FROM: Constance R. Kiriu la Legislative Auditor RE: Bill 237, Draft 3 Operating Budget The purpose of this memorandum is to inform you that we have learned that the funding in the Operating Budget ERS Pension Accumulation Fund-G in Account No. 5901.10 is set by an actuary and is fixed for the new fiscal year 2004-2005. The total figure for the fiscal year ($10,487,800) was given to the County in time for the Mayor's May 5`" budget (Draft 2). The County makes two payment contributions-usually in August (2004) and February (2005). ERS ACCOUNT Draft 3 reduced Account No. 5901.10 by $106,123 due to the denial of personnel related to fuel tax reduction ($91,658) and the sort station ($14,465). Nevertheless, the County is still obligated to pay the full $10,487,800. We must restore $106,123 in order to make the payments to ERS (1) by amending Draft 2 (if there are other amendments made), or (2) by transferring the monies later in the year. We would prefer the latter if no other amendments are made. If, however, the Council decides to make the amendments at the Council meeting, the following list contains recommended adjustments: Account No. Description ADD/(REDUCE) REVISED ESTIMATE $ ~ SOLID WASTE FUND REVENUE 3609.11 Transfer from General Fund 14,465 9,815,558 TOTAL REVENUE ADJUSTMENTS 14,465 EXPENSE 5802.81 Pension Accum-LF 14,465 226,700 TOTAL EXPENSE ADJUSTMENTS 14,465 VARIANCE (REVENUES-EXPENSE) SOLID WASTE 0 "L) Comm. No. Hawaii County is an Equal Opportunity Provider and EmpdoyerRef. 1.Oe PfN Ref. Uate ~~tAly,i~4 -