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The Honorable Chairman Pete Hoffmann <br />and Members of the County Council <br />Page 2 <br />March 1. 2007 <br />be placed in the Public Access, Open Space, and Natural Resources Preservation <br />Fund. The amount budgeted represents the projected 2% requirement (includes <br />penalties and interest). <br />• Provision for Collective Bargaining, $6,250,000. The collective bargaining <br />contracts of our public employee unions (HGEA, UPW, SHOPO, Firefighters) end on <br />June 30, 2007. Funds are being budgeted to address possible pay and other increases. <br />• Reserves. Once again, funds to prepare for unexpected future emergencies or budget <br />shortfalls are being requested in the following reserve accounts: <br />• Budget Stabilization Fund, $4,000,000 <br />■ Disaster/Emergency Fund, $2,000,000 <br />• Self -Insurance Fund, $1,000,000 <br />• GASB 45 — Other Post Employee Benefits, $8,000,000. $8,000,000 is being <br />budgeted for accrued retiree health care benefits. The County currently funds retiree <br />health benefits on a "pay-as-you-go" basis, which has resulted in a large unfunded <br />liability for future benefits. Recent regulations (GASB 45) require that the full <br />liability for post employment health care benefits be reflected in financial statements. <br />An actuarial study, to be completed this fiscal year, is currently under way to <br />determine the liability. Upon completion, the Employer -Union Health Benefits Trust <br />Fund that manages the funds will begin assessing charges to the County. $4,000,000 <br />was budgeted for the current year (FY 2006-07). <br />• West Hawaii Golf, $1,000,000. Due to the success of the West Hawaii Golf <br />Program, funding is being proposed to continue the program at a higher amount. <br />• Increase in Flood Control Program, $437,071. Due to a new federal mandate that <br />took effect in October 2006, the inspection requirements for the County to maintain <br />flood canals have increased. The additional funding needed for required inspections <br />are included in this budget. <br />New Projects. The following new projects are also being established to improve <br />operational efficiency and services to the public: <br />• Transfer of Beach Lifeguards. This budget includes funding for the transfer of <br />Beach Lifeguards from the Parks and Recreation Department to the Fire Department. <br />The work that beach lifeguards perform is similar to the search and rescue functions <br />of the Fire Department. When the transfer is made, operations and training should be <br />better coordinated and ultimately, more efficient. <br />• Consolidation of Motor Vehicle Registration, Driver Licensing, and PMVI. Also <br />proposed is the consolidation of the motor vehicle registration section of the Finance <br />Department with the driver licensing, commercial driver licensing (CDL), and <br />periodic motor vehicle inspection (PMVI) sections of the Police Department to the <br />