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<br /> Page 4 <br /> received. This carryover was possible even with decreasing property tax <br /> revenues and increasing expenditures. <br /> It should be noted that these fund balances have already been adjusted for <br /> "Operating Transfers Out" to cover previously committed funding carried over <br /> into the next fiscal year. <br /> Thus FY 98 started with a carryover of over 30 million dollars. More than <br /> enough to cover the payroll increases for all County employees in both FY 98 <br /> and FY 99. <br /> If the past is any indication ,the County of Hawaii will be looking at a carryover <br /> fund balance of some where between 16 and 23% of its revenue collections at the <br /> end of FY 98. <br /> 2) According to Bill 55, the 97-98 Operating Budget, general fund revenues are <br /> predicted to be $145,250,164. A 20% carry over would amount to <br /> $29,050,032. <br /> Again leaving more than enough money to cover the FY 99 payroll increases for <br /> all County employees. <br /> Even without this prediction, based on past performance, Bill 55, the budget for <br /> <br />