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FC-85 Page 4 November 3,2021
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Mr. Chung then asked if the three percent TAT will be in lieu of previous amounts or if it will
supplement what the County is entitled to. Ms. Sako stated that the three percent tax will replace the
$19,158,000 previously received from the state. Mr. Chung then asked where in the enabling legislation
outlines that information, and Ms. Sako stated she did not have that information currently with her.
Mr. Inaba requested that Ms. Sako clarify whether the prepared fiscal year budget included TAT funds. j
Ms. Sako stated that Finance anticipated that the County would not receive the TAT funds from the state
and so did not include it as a revenue source. Ms. Sako further explained that Finance also left out the
OPEB contribution since the County would not need to pay the full amount for the fiscal year and were
therefore able to keep a balanced budget.
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Per Mr. Inaba's request, Ms. Sako clarified that the County needs another revenue source to replace the
$17,500,000 OPER payment.
Your Committee on Finance is in accord with the purpose and intent of Bill No. 81, as amended to
Draft 2, and recommends its passage on first reading.
are
AYES NOES ABS EX Respectfully submitted,
CHUNG X
DAVID X COMMITTEE ON FINANCE
INABA x
KANEALI`I-KLEINFELDER X
KIERKIEWICZ X
KIMBALL X MATT KANE `I-KLEINFELDER, CHAIR
LEE LOY X
RICHARDS X FC REPORT NO.: 85
VILLEGAS x ADOPTED: NOV-1 8 202