COM 0193.000 2006-2008 - Laserfiche WebLink

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The Honorable Chairman Pete Hoffmann and Members of the County Council Page 8 March I, 2007 • Solid Waste Division -Increased operating expenses, $1.4 million. -Additional equipment, $671,000. -Increased recycling efforts, $467,000. • Wastewater Division -Increased operating expenses, $452,000. Debt Service — Expenditures are increasing by $6.1 million primarily due to: • Debt Service -Current requirements plus projected $25 million new issue. Pension and Retirement — Expenditures are increasing by $2.3 million primarily due to: • ERS/FICA -Increase in employees and wages. Health Fund — Expenditures are increasing by $4.7 million primarily due to: • GASB 45 reserves -Increased estimated requirement for Other Post Employee Benefits by $4 million. Miscellaneous — Expenditures are increasing by $13.5 million primarily due to: • Provision for Collective Bargaining Increases, $6.25 million. • Increased Sewer Fund Replacement Reserve Repairs, $1.6 million. • Increased Public Safety Disaster/Emergency Account, $350,000. • Increased transfer to Budget Stabilization Fund, $3.0 million. • Provided for transfer of 2% of real property taxes to Public Access, Open Space and Natural Resources Preservation Fund, $4.349 million. • Increased transfer to Disaster/Emergency Fund, $1.0 million. CONCLUSION Although this proposed budget is $32.4 million greater than the current year's budget, it includes large expenditure items that will undoubtedly serve the long-term needs of Hawaii's people. Required funding ($4.35 million) for the Public Access, Open Space, and Natural Resources Preservation Fund will enable the County to acquire land for recreation and education, preservation of historic and culturally important sites, protection of natural resources, and preservation of forests, beaches, and coastal areas. Also included are provisions to add more money to the Budget Stabilization (Rainy Day) Fund ($4 million), the Disaster/Emergency Fund ($2 million), and the Self -Insurance Fund ($1 million). These are all very important reserves for the future, as we try to protect and insure the County against future economic downturns and emergencies.