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l tarry Kim '�r!!.°'"'i Collins Tomei I/nror '. Wq Director �iC, .• Deanna S. Sako e•�'41 tieput.Director• County of Hawaii Finance Department 25 Aupuni Sheet.Suite 2103 • Illln.Ilauni i 96720 f7 04081961-823l • I.ar(08)9614569 On s =C March 30, 2017 --fZ W Cy O p{ Valerie Poindexter, Council Chair and '+In Members of the I-lawai'i County Council I Iawai`i County Council 25 Aupuni Street Hilo. Hawaii 96720 Re: Operating Budget Pursuant to Sections 10-15 and 10-16 of the County Charter, 2% of real property tax revenues, (including penalty and interest) must be transferred from the General Fund to the Public Access/Open Space, and Natural Resources Preservation (PONC) Fund, and .25% of these tax revenues must be transferred to the Public Access/Open Space.and Natural Resources Preservation Maintenance Fund. Real property tax interest revenues are expected to exceed the amount budgeted for FY 2016-17. requiring additional funds he transferred into the PONC and PONC Maintenance accounts in order to maintain compliance. Enclosed is a bill for an Ordinance amending the Operating Budget by appropriating 576.000 to the Public Access/Open Space, and Natural Resources Preservation Fund, and 59.500 to the Public Access/Open Space, and Natural Resources Preservation Maintenance Fund. In order to ensure that the transfer may be done by the deadline as required by the County Charter, we are requesting that this bill he waived from the Finance Committee and to place it on the April 19. 2017 Council Agenda. If there are any questions, please do not hesitate to call Kay Oshiro of the Finance Department at 961-8425. Collins' .fomci Director of Finance /� cc: Kay Oshiro Comm.No. / 9 Y Ref.To: yp7/E0 4 at It 76 Ref.Dafe di 94' 3 0 7017 Hawaii County is an Equal Opportunity Employer and Provider