REP FC 287 04/18/2006 2004-2006 - Laserfiche WebLink

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REPORT OF THE COMMITTEE ON FINANCE DATE: April 18, 2006 Re: Comm. No. 717/Bill No. 235 PLACE: Council Chambers TIME: 10:28 a.m. Council Chair and Members Hawaii County Council Hilo, Hawaii 96720 Your Committee on Finance, to which was referred Bill No. 235, reports as follows: Bill No. 235, transmitted by Mayor Harry Kim via Communication No. 717, dated March 1, 2006, submits for consideration the proposed Operating Budget for Fiscal Yeaz 2006-07, totaling $316,076,272 in estimated revenues and appropriations (Part I-Volume I), and includes the operations of eleven of the County's special funds as well as the General Fund. Also submitted is the Operating Budget Proposal (Part 1, Volume II), which describes the departments and their programs, program objectives, highlights, program measures, expenditures, and positions. Additionally, Communication No. 717.1 from Finance Director William Takaba, dated March 1, 2006, transmitted a booklet containing reports titled Six Month Progress Report on Program Objectives for FY2005-06 and Final Status Report on Program Objectives for FY2004-OS. These reports provide information to the Council to assist in the evaluation of program accomplishments during the first six months of the current fiscal year and for the previous 2004-OS fiscal year. Among the communications received were letters from Finance Director William Takaba (Comm. 717.32), Corporation Counsel (Comm. 717.7), the Department of Environmental Management (Comm. 717.34), Department of Parks and Recreation (Comm. 717.33), Office of the Prosecuting Attorney (Comm. 717.00), Department of Civil Service (Comm. 717.9), Police Department (Comm. 717.41), Office of Housing and Community Development (Comm. 717.21), Department of Public Works (Comm. 717.39), and Office of the County Clerk (Comm. 717.19) responding to questions provided by the Legislative Auditor's Office at the Special Meeting of the Finance Committee on March 29, 2006 through March 31, 2006. The highlights of the operating revenue proposal is as follows: • Real Property Tax -Taxable real property values will increase by 18.8% after planned tax rate reduction. • Interest Income -Interest earnings increasing due to a higher rate of return on investments. • Charges for Services -Solid Waste tipping fee revenues increasing by $2.2 million due to increased tipping fees and tonnage. • Other Revenues -Revenue source decreases due to reduction in land sales, debt reimbursement and departmental charges. FC REPORT NO. 287