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<br /> <br /> <br /> J~tY •i <br /> ,p,• William T. Takaba <br /> ~Vliys Managing Director <br /> William P. Kenai <br /> Mayor - Walter K.M. Lau <br /> • a7--~: <br /> ~i r~+;•• ~ Deputy Managing Director <br /> 1/"~1 Iy ytfv ~rr•oi}lM•b•~(utt i <br /> 6.7 eea <br /> 891 Ululani Street • Hilo, Hawaii 96720-3982 • (808) 961-8211 Fm(808)961-6553 <br /> KONA: 75-5722 Hanama Place, Suite 102 . Kailua-Kona, Hawaii 96740 C 1 :71 Nl.y <br /> •..c _,i,p <br /> (808) 327-3602 • Fm(808)326-5663 <br /> Lj <br /> t' c.n <br /> May 5, 2009 <br /> ;Ertl F <br /> CO <br /> The Honorable Chairman J Yoshimoto > c <br /> and Members of the County Council <br /> County of Hawaii <br /> Hilo, HI 96720 <br /> Dear Chairman Yoshimoto and Council Members: <br /> As required by the Hawaii County Charter, the amended operating budget proposal for <br /> the County of Hawaii for the fiscal year ending June 30, 2010 is hereby submitted. <br /> OVERVIEW <br /> <br /> This balanced budget includes estimated revenues and appropriations of $386,738,088 <br /> and includes the operations of eleven of the County's special funds as well as the General <br /> Fund. It is $16,466,910, or 4.1% lower than the FY 2008-09 budget. This balanced <br /> budget does not rely on any property tax increases. <br /> <br /> In arriving at this amended budget the Administration was faced with significant <br /> additional decreases in real property tax and transient accommodations tax (TAT) <br /> revenues, as well as an increase in health benefit costs. Continued review of <br /> departmental budgets resulted in additional reductions of expenditures. Current year <br /> hiring and spending restrictions have also generated savings, which are reflected in the <br /> increased estimate of fund balance available for carryover to the new budget. <br /> <br /> DETAILS <br /> <br /> Significant Changes to February 27, 2009 Revenue Estimates <br /> <br /> • Real Property Tax - reduced by $2,780,000 to reflect the certified net taxable real <br /> property values. This is primarily due to having a large amount of net taxable value <br /> under appeal this year. The result is a budgeted revenue of $215,200,000, using <br /> current tax rates. This is a decrease of $15,094,000 (6.55%) from the current year <br /> budget. The total value of net taxable real property within the County of Hawaii for <br /> FY 2009-10 is $28.15 billion, which represents a 4.59% decrease over the current tax <br /> year. The amount under appeal is $722 million. <br /> cqm::,. i ~ I S <br /> Ref. To: CAM-^61. <br /> 16t County of Hawaii ism Equal Opportunity Provider and Employer. Ref, Date . MAY 0 6 2009 _ <br /> l` Dra~'+ a 7 <br />