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William P. Kenoi <br />Mayor <br />March 25, 2015 <br />County of Hawaii <br />Finance Department <br />25 Aupuni Street, Suite 2103 • Hilo, Hawaii 96720 <br />(808)961-8234 • Fax(808)961-8569 <br />Dru Kanuha, Council Chair and <br />Members of the Hawaii County Council <br />Hawaii County Council <br />25 Aupuni Street <br />Hilo, Hawaii 96720 <br />Re: Operating Budget <br />Deanna S. Sako <br />Director <br />Lisa K. Miura <br />Deputy Director <br />Pursuant to Sections 10-15 and 10-16 of the County Charter, 2% of real property tax <br />revenues, (including penalty and interest) must be transferred from the General Fund to <br />the Public Access/Open Space, and Natural Resources Preservation (PONC) Fund, and <br />.25% of these tax revenues must be transferred to the Public Access/Open Space, and <br />Natural Resources Preservation Maintenance Fund. Real property tax interest revenues <br />are expected to exceed the amount budgeted for FY 2014-15, requiring additional funds <br />be transferred into the PONC and PONC Maintenance accounts in order to maintain <br />compliance. <br />Enclosed is a bill for an Ordinance amending the Operating Budget by appropriating <br />$100,000 to the Public Access/Open Space, and Natural Resources Preservation Fund, <br />and $12,500 to the Public Access/Open Space, and Natural Resources Preservation <br />Maintenance Fund. <br />In order to ensure that the transfer may be done by the deadline as required by the County <br />Charter, we are requesting that this bill be waived from the Finance Committee and to <br />place it on the April 15, 2015 Council Agenda. If there are any questions, please do not <br />hesitate to call Kay Oshiro of the Finance Department at 961-8425. <br />Nnna Sako <br />Director of Finance <br />Enc. <br /><sm 40 Comm. No. d -S3 <br />Ref. To: L <br />Ref. Date <br />Hawaii County is an Equal Opportunity Employer and Provider <br />