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<br /> Page 5 <br /> FY 98, shows general fund revenues of $145,250,164 and budgeted general fund <br /> expenses of $139,678,499. Thus the FY98 budget itself predicts a surplus of <br /> $5,571,675. This budget also includes predicted expenses include 2.8 million in <br /> pay increases, and we know the pay increases will not cost that much for FY98. <br /> Thus, there is more than enough carry over to cover FY99 payroll increases for all <br /> public employees. <br /> 3) It should also be noted that a review of the County of Hawaii Monthly Budget <br /> Status Report for FY 97 shows that $2,539,036 in salaries and wages lapsed for <br /> FY 97. That is, this salary money was not spent. These monies would more <br /> than cover the increases requested in Resolution 185-97 and the projected <br /> increases in other bargaining units. <br /> In addition, the $2,800,000 placed in FY98 budget for negotiated pay increases <br /> will probably exceed the additional cost of the wage settlements for FY98, <br /> resulting in a carry over of some of this money into FY99. <br /> 4) Much is said about decreasing real property tax revenues. As we already pointed <br /> out above, even with decreasing property tax revenues in FY97, the county was <br /> able to carry a 30 million dollar surplus in that year. How is that? <br /> I refer you to Attachment #5. <br /> <br />