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MfY Or~ <br /> Harry Kim ~'`y, ~ William Takaba <br /> Mayor ~ Director <br /> i <br /> - Nancy E. Crawford <br /> a+'•': De u Director <br /> ~+i o~'wiir~ n,7 r~ {111 q 7 1 P N <br /> t:a f t d L <br /> County of Hawaii <br /> Finance Department ~ <br /> 25 Aupuni S[reeL Room 118 Hilo, Hawaii 96720 <br /> (808) 96I-8234. Fax (808) 961-8248 <br /> January 31, 2007 <br /> Pete Hoffmann, Chairman and <br /> Members of the Hawaii County Council <br /> Hawaii County Council <br /> 25 Aupuni Street <br /> Hilo, Hawaii 96720 <br /> Re: GENERAL FUND'S FUND BALANCE <br /> On January 24, 2007, Mayor Harry Kim transmitted a letter to the County Council, certifying a balance <br /> of $11,049,514.76 in the General Fund's fund balance as of June 30, 2006. Bill 37, which is on the <br /> Finance Committee Meeting agenda scheduled for February 6, 2007, appropriates the General Fund's <br /> fund balance to selected County's Departments/Agencies accounts. We were just informed that the <br /> County's insurance policy cost has increased from what is in the current fiscal year's budget <br /> ($165,000) and what was to be supplemented by $46,000 from the fund balance. With the new <br /> insurance policy cost now at $397,784, we humbly request that an $186,784 be taken from the <br /> Transfer to Budget Stabilization Fund account appropriation and used instead for the insurance policy, <br /> listed under the Building R&M OCE account. The increased cost is due to a rippling effect from the <br /> past natural disasters (hurricanes on the mainland during 2005 and the October 2006 earthquakes in <br /> the State of Hawaii) and the coverage of additional County facilities and locations. <br /> a propa.xA <br /> Enclosed i~Draft 2 of Bill 37, which increases the Building R&M - OCE account (010.171.5171.22) by <br /> $186,784 and reduces the Transfer to Budget Stabilization Fund account (010.801.5801.53) by that <br /> same amount. <br /> Should you have any further questions, please feel free to call the Department of Public Works or <br /> Sco~tt~~Kn~owles, the County's Risk Management Officer. <br /> ~'VV"w~ ~ <br /> William Takaba <br /> Director of Finance <br /> APPROVED: <br /> C-~G <br /> /Harry Kim <br /> <br /> 4 Mayor <br /> Enc. Comm. No. ~ 31 • <br /> Ref. To: Pre°'r`xt°'C F_~ <br /> cc: Public Works, Risk Management Division ,<t,f. mate FE6 ~ ~ 2007 <br /> Hawaii County is an Equal Opportunity Provider and Employer <br /> <br />