HomeMy WebLinkAboutCOM 0623.000 2022-2024 Mitchell D.Roth •.0�tY.og H'+
o .... Deanna S. Sako
Mayor = \\Lio Director
• Diane Nakagawa
+riT••"' o '�� Deputy Director
•
County of Hawaii
Finance Department —
25 Aupuni Street,Suite 2103 • Hilo,Hawaii 96720
(808)961-8234 • Fax(808)961-8569
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•
November 30, 2023 ,
/,ice
Heather Kimball, Council Chair and ` .--..:•"-
Members of the Hawai`i County Council .: ::.
Hawaii County Council co ---
25 Aupuni Street
Hilo, Hawai`i 96720
Re: Fund Balance Notification for June 30, 2023 _
Pursuant to Hawai'i County Code Section 2-12.4, I am transmitting the June 30, 2023, fund
balance information: '
Fund Balance $ 96,257,728.66
Fund Balance Designated for Future Year 36,408,864.00
Total Budgetary Fund Balance, June 30, 2023 $132,666,592.66
The fund balance is primarily the result of the higher than expected collections in real property
tax, transient accommodations tax, and interest revenues. The departments continued to be
careful with their spending, but these savings were offset by increases in prices. Another
component of the fund balance is the unappropriated fund balance from the prior fiscal year.
This fund balance will be helpful in meeting next year's budgetary needs as well as other
expected payouts. Balancing the fiscal year 2024-25 budget will continue to be challenging
given the current economic climate which has caused most of our costs to rise, as well as the
need to fund collective bargaining increases for all eight collective bargaining units.
Should you have any questions regarding this information, please feel free to contact me.
®- Aiek ".
Deanna Sako
Finance Director
Comm. No. Y.13
Ref.To: . t G
Ref. pate. NOV 3 0 2023
Hawaii County is an Equal Opportunity Employer and Provider