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<br /> <br /> <br /> ~wor x <br /> Harry Kim William Takaba <br /> Director <br /> Mayor <br /> t, <br /> •:y., Nancy E. Crawford <br /> Deputy Director <br /> County of Hawaii <br /> Finance Department <br /> 25 Aupuni Street, Room 118 • Hilo, Hawaii 96720 <br /> (808) 961-8234 • Fax (808) 961-8248 <br /> <br /> October 14, 2004 <br /> <br /> <br /> <br /> The Honorable James Arakaki, Chairman, <br /> and Members of the Hawai'i County Council <br /> County of Hawai'i s <br /> Hilo, Hawai'i 96720 <br /> <br /> Dear Chairman Arakaki and Members of the County Council: <br /> <br /> SUBJECT: BILL 350 -GENERAL FUND FUND BALANCE- SELF <br /> INSURANCE <br /> <br /> Communication 804 on the Finance Committee agenda for October 19, 2004 <br /> refers to several immediate needs to be funded by available General Fund fund <br /> balance. Requested in the referenced bill is $2,500,000 for the Self Insurance <br /> Fund. <br /> <br /> The current balance in the Self Insurance Fund is $1,392,679.73. In previous <br /> fiscal years Council authorized settlements of $1,350,000 to be paid from these <br /> funds, virtually exhausting them. In the current fiscal year Council authorized <br /> additional settlement payments of approximately $1,800,000 that must be <br /> funded. <br /> <br /> Our request includes an additional $700,000 that would allow us to maintain a <br /> prudent reserve in the Self Insurance Fund. Thank you for your consideration of <br /> our request. If you would like additional information, please don't hesitate to call <br /> me. <br /> <br /> Sincerely, <br /> <br /> <br /> Nancy Crawford <br /> Deputy Director o Finance <br /> <br /> cc: Harry Kim, Mayor Comm. No. V" tf Z <br /> rSs A <br /> Ref. To: <br /> Fi<f. Cat-• <br /> Hawaii County is an equal opportunity provider and employer. <br />