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Harry Kim Collins Tomei Mayor Director . *i��. ,-,.0:•: Deanna S. Sako % ::_4-::,.4-;._3:;:. : Deputy Director • County of Hawaii Finance Department 25 Aupuni Street,Suite 2103 • Hilo,Hawai`i 96720 (808)961-8234 • Fax(808)961-8569 February 6, 2017 To Whom It May Concern: Subsequent to the recent release of the Comprehensive Annual Financial Report (CAFR) for the County of Hawai'i, State of Hawai'i for the fiscal year ended June 30, 2016, we noted that the negative unassigned fund balance in the General Fund was not in compliance with Governmental Accounting Standards Board Statement No. 54,Fund Balance Reporting and Governmental Fund Type Definitions(GASB Statement No. 54) and the CAFR was amended as follows: • Page 20, Governmental funds, second paragraph — Assigned fund balance changed from$34.6 million to$29.5 million.Reference to unassigned fund balance was deleted. • Page 24 —Added explanation that County appropriated $26.4 million for spending in the 2017 fiscal year budget but this amount differs from the amount shown on the Governmental Funds Balance Sheet as assigned to subsequent year's budget due to reclassification of a negative $5.1 million in the unassigned fund balance. Additional information also explains the reason for the difference in the amounts. • Page 30,Governmental Funds Balance Sheet—Unassigned fund balance in the general fund was changed from $(5,083,767) to $-0- and therefore deleted. Fund balance assigned to subsequent year's budget in the general fund was decreased by$5,083,767 to $21,309,233. There was no effect on total fund balances. • Page 134, Table 3 - Unassigned fund balance in the general fund was changed from $(5,083,767)to $-0-. Assigned fund balance decreased by$5,083,767 to $25,518,510. There was no effect on total fund balances. Enclosed is a replacement copy of the CAFR which reflects the changes noted above. The initial copy of the CAFR you received should be discarded and no longer be relied upon. We apologize for any inconvenience this may have caused you. Should you have any questions, please contact our county controller, Kay Oshiro, at(808) 961-8425. 4111111. Ts COLLINS TOMEI Director of Finance Hawai'i County is an Equal Opportunity Employer and Provider