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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: January 21, 1997 Re: Comm. No. 59 <br /> PLACE: Councilroom <br /> TIME: 10:43 A.M. <br /> Chair and Members <br /> Hawaii County Council <br /> Hilo, Hawaii 96720 <br /> Your Committee on Finance, to which was referred Bill No. 14, reports as follows: <br /> Bill No. 14, transmitted by Finance Director Harry Takahashi, via Communication No. 59, dated <br /> December 23, 1996, amends Ordinance 96-72, as amended, the Operating Budget ending <br /> June 30, 1997. Bill No. 14 is intended to implement the policy set forth in Ordinance 96-2, <br /> which establishes the Geothermal Relocation Program. <br /> The amendment is as follows: <br /> From: <br /> 095-000-3201.71 Geothermal Royalties Geothermal Royalty $148,000.00 <br /> 095-000-3609.10 Fund Balance from Previous Year 348,192.00 <br /> $496,192.00 <br /> To: <br /> 095-141-5143.01-011 Geothermal -Reg. S&W Geothermal Royalty $ 6,024.00 <br /> 095-141-5143.02-115 Geothermal -Misc. Contractual Services 487,457.00 <br /> 095-801-5802.31-341 Geothermal -Pension Accum. 978.00 <br /> 095-801-5802.34-341 Geothermal -FICA Employer Share 461.00 <br /> 095-801-5802.38-341 Geothermal -Employee Health Plan 1.272.00 <br /> $496,192.00 <br /> The Geothermal Royalty Fund consists of an annual contribution from PGV of $50,000.00 and <br /> 30% of the royalties given to the State from the sale of the steam itself. <br /> Public concerns were expressed regarding the liability placed on the County of Hawaii by Puna <br /> Geothermal Venture. The public felt that compensation to the community, both inside and <br /> outside the one mile radius of the plant, should be made by PGV and not the County. Questions <br /> also raised were in regard to the rationale behind the one-mile radius ruling, whereas, the actual <br /> affected area could be larger. <br /> Similarly, Your Committee questioned the possible ramifications and accountability the county <br /> <br /> would encounter. Your Committee also requested an explanation regarding the difference <br /> between the Geothermal Royalty and Asset Funds. Planning Director Virginia Goldstein, <br /> Controller Dixie Kaetsu, and Planning Program Manager Norman Hayashi served as resource <br /> people to address those concerns. <br /> FC REPORT NO. 23 <br /> <br />