2015-COH - Comprehensive Annual Financial Report

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This is primarily due to the following factors: • The positive variances in real property and public service company taxes of $2.0 million was negated by a larger negative variance in intergovernmental revenues for both the federal and state grants of $3.3 million and in total charges for services of $0.9 million. • $4.7 million of the unspent appropriations is related to salaries and wages. The variance is due primarily to unfilled vacancies and continued efforts by each department to control payroll costs during the budget year due to the tough economic conditions facing the County. The following functions are responsible for the majority of the variance: public safety ($2.3 million) and general government ($1.8 million). • $2.3 million is due to lower than anticipated payments needing to be made in retirement related payments. With each department increasing efforts to control costs, overtime was also closely monitored and the corresponding pension expenditures were not incurred. • $2.7 million is due to the fact that the increase in health premiums for employees' was lower than originally anticipated. CAPITAL ASSET AND DEBT ADMINISTRATION Capital assets. The County's investment in capital assets for its governmental and business -type activities as of June 30, 2015 amounts to $1,092 million (net of accumulated depreciation). This investment in capital assets includes land and improvements, buildings and improvements, equipment, easements, and infrastructure assets, which consists of primarily roads and bridges. The total increase in the County's investment in capital assets for the current fiscal year was 4 percent. Major capital asset events during the current fiscal year included the following: • Construction continued on Na Kahua Hale 0 Ulu Wini Housing Project (formerly known as Kaloko Housing Program) and costs at the end of the current fiscal year for Phase 4 totaled $2.9 million of which $0.3 million was from the current fiscal year; the project was transferred to Building and Improvements. • Construction continued on the La'aloa Avenue Extension Phase I and II; construction in progress for both phases as of the end of the current fiscal year increased by $5.0 million to reach a total of $11.2 million, which was transferred to Infrastructure. • Construction continued on the Kaiminani Drive Roadway Improvements Phase I and II; construction in progress as of the end of the current fiscal year had reached a combined total of $12.5 million of which almost all of the increase from the prior year was related to Phase II ($3.7 million); Phase 1 in the amount of $8.3 million was transferred to Infrastructure. • Construction continued on the Kamehameha Avenue Reconstruction (Wailoa Bridge to Ponahawai) project; construction in progress as of the end of the current fiscal year had reached $10.0 million with $7.5 million coming from the current fiscal year. • Construction continued on the Kealakehe Wastewater Treatment facility; construction in progress as of the end of the current fiscal year had increased by $3.2 million to reach $4.3 million at the end of the fiscal year. • Construction continued on the Hokulia Bypass; construction in progress as of the end of the current fiscal year had reached $5.7 million with $5.3 million coming from the current fiscal year. • Construction began on Railroad Avenue Improvements and reached a total of $1.6 million in the current fiscal year, which was transferred to Infrastructure. - 22 -