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Harry Kim <br />Mayor <br />October 15, 2020 <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 />Aaron Chung, Council Chair and <br />Members of the Hawai' i County Council <br />Hawai' i County Council <br />25 Aupuni Street <br />Hilo, Hawai' i 96720 <br />Re: Fund Balance Notification for June 30, 2020 <br />Deanna S. Sako <br />Director <br />Steven A. Hunt <br />Deputy Director <br />M <br />rte. <br />Pursuant to Hawai'i County Code Section 2-12.4, I am transmitting tie June 30,'2020, fund <br />balance information: <br />Fund Balance $ 9,589,146.42 <br />Fund Balance Designated for Future Year 30,548,282.00 <br />Total Budgetary Fund Balance, June 30, 2020 $40,137,428.42 <br />The fund balance is primarily the result of expenditures in several areas being lower than <br />expected due to the focus _during the second half of the fiscal year being on the pandemic much <br />of which was funded by CARES Act, careful spending by the departments, as well as pay <br />adjustments that were not able to be paid in fiscal year 2019-20 as not all employers had <br />approved the cost items as of June 30, 2020. Another component of the fund balance is the <br />unappropriated fund balance from the prior fiscal year. <br />This fund balance will be helpful in meeting next year's budgetary needs. Balancing the fiscal <br />year 2021-22 budget will continue to be challenging given the current economic climate. <br />Should you have any questions regarding this information, please feel free to contact me. <br />Deanna Sako �y <br />Finance Director Comm. No. �! <br />Ref. To: <br />Ref, DatOCT 19 2020 <br />Hawaii County is an Equal Opportunity Employer and Provider <br />