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Page 16 <br /> 1 not by that much so that it ' s kind of a shocking kind <br /> 2 of thing. <br /> 3 So with that in mind, Nancy, please . <br /> 4 MS . CRAWFORD: Good morning, everyone . Thank <br /> 5 you. Just a quick recap of the budget and where we are <br /> 6 today and kind of the impact of our lava event . <br /> 7 We submitted a budget before May 5th. It was <br /> 8 on May 4th, as required by law, which is the second <br /> 9 budget that comes . And that was based on our certified <br /> 10 real property tax values . And it ' s about a $518 <br /> 11 million budget in total . And of that, about $419 <br /> 12 million is in the General Fund. <br /> 13 The Special Fund -- the rest, like Highway <br /> 14 Fund and the others, are generally not impacted by <br /> 15 this, although we do subsidize some of those funds; so k <br /> 16 to that degree, they are impacted. But what has <br /> 17 happened since we submitted that budget is that we 've <br /> 18 lost a significant value in Puna, either direct loss <br /> 19 or, in that area where it would be if not reduced to <br /> 20 zero value, there has certainly been an impact on the <br /> 21 value of the properties kind of everywhere below Pahoa . <br /> 22 And our Real Property Tax Office went in and identified <br /> 23 both the direct loss that we know about and an estimate <br /> 24 and partial loss of the rest of the property, and we <br /> 1 <br /> 25 came up with an estimate of about $5 million of lost <br /> 5 <br /> ISLAND COURT REPORTING & TRANSCRIPTION SERVICES <br /> (808) 933-9800 <br />