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Mitchell D.Roth •.0�tY.og H'+ <br /> o .... Deanna S. Sako <br /> Mayor = \\Lio Director <br /> • Diane Nakagawa <br /> +riT••"' o '�� Deputy Director <br /> • <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 /> wC14,7J . <br /> • <br /> November 30, 2023 , <br /> /,ice <br /> Heather Kimball, Council Chair and ` .--..:•"- <br /> Members of the Hawai`i County Council .: ::. <br /> Hawaii County Council co --- <br /> 25 Aupuni Street <br /> Hilo, Hawai`i 96720 <br /> Re: Fund Balance Notification for June 30, 2023 _ <br /> Pursuant to Hawai'i County Code Section 2-12.4, I am transmitting the June 30, 2023, fund <br /> balance information: ' <br /> Fund Balance $ 96,257,728.66 <br /> Fund Balance Designated for Future Year 36,408,864.00 <br /> Total Budgetary Fund Balance, June 30, 2023 $132,666,592.66 <br /> The fund balance is primarily the result of the higher than expected collections in real property <br /> tax, transient accommodations tax, and interest revenues. The departments continued to be <br /> careful with their spending, but these savings were offset by increases in prices. Another <br /> component of the fund balance is the unappropriated fund balance from the prior fiscal year. <br /> This fund balance will be helpful in meeting next year's budgetary needs as well as other <br /> expected payouts. Balancing the fiscal year 2024-25 budget will continue to be challenging <br /> given the current economic climate which has caused most of our costs to rise, as well as the <br /> need to fund collective bargaining increases for all eight collective bargaining units. <br /> Should you have any questions regarding this information, please feel free to contact me. <br /> ®- Aiek ". <br /> Deanna Sako <br /> Finance Director <br /> Comm. No. Y.13 <br /> Ref.To: . t G <br /> Ref. pate. NOV 3 0 2023 <br /> Hawaii County is an Equal Opportunity Employer and Provider <br />