REP FC 221 05/16/2012 2010-2012 - Laserfiche WebLink

Home

REPORT OF THE COMMITTEE ON FINANCE DATE: May 16, 2012 Re: Comm. No. 703/Bill 253 PLACE: Council Chambers Hilo, Hawai`i TIME: 8:06 a.m. Council Chair and Members Hawaii County Council Hilo, Hawaii 96720 Your Committee on Finance, to which was referred Bill 253, reports as follows: Bill 253, transmitted by Finance Director Nancy Crawford via Communication No. 703, dated April 27, 2012, amends Ordinance No. 11-59, as amended, the Operating Budget for the County of Hawaii for the fiscal year ending June 30, 2012 relating to the Public Access, Open Space and Natural Resources Preservation Fund. The amendment is as follows: From: 010.3101.16 Real Property Taxes Interest General $ 100,000 To: 010.901.5801.52 Transfer to Public Access/Open General $ 100,000 Space Preservation Fund Real property tax interest revenues are expected to exceed the amount budgeted in the Real Property Tax (RPT) Interest account for FY 2011-12. Two percent of these additional revenues are to be transferred to the Public Access, Open Space and Natural Resources Preservation Fund. The current appropriation for the transfer account is insufficient. This proposed bill for an Ordinance amends the Operating Budget by increasing the appropriation of the Transfer to Public Access/Open Space Preservation Fund account by $100,000. This estimate is high in order to ensure that there is sufficient appropriation available to provide the Public Access, Open Space and Natural Resources Preservation Fund with all monies it is due. Pursuant to Section 46-7, Hawai`i Revised Statutes, County departments must obtain the consent of the Council to enter into agreements with the Federal or State governments respecting action to be taken pursuant to any powers granted by law to furnish, expend, and receive any funds or other assistance in connection with projects being or to be undertaken pursuant to those powers. FC Report No. 221