HomeMy WebLinkAboutCOM 0158.000 1996-1998 OOJNVV Oi Nye'
~~J~id; William O. Davis
Stephen K. Yamashiro Managing Director
Mayor
• Henry Cho
•+~r Deputy Managing Director
P Oi•Ni
~n~tnfg ~tt~rttii
25 Aupuni Streeq Room 215 Hilo, Hawaii 96720.4252 (808) 9648211 Fax (808) 9646553
KONA: 75.5706 Kuakini Highway, Suite 103 Kailua-Kona, Hawaii 96740
(808) 329-5226 Fax (808) 326-5663
February 13, 1997
The Honorable James Arakaki, Chairperson -
and Members of the County Council
Hawaii County Council - c~
25 Aupuni Street r-•
Hilo, HI 96720
Re: General Fund Fund Balance
Pursuant to the provisions of Section 10-8 of the Hawaii Count
Charter, i hereby certify that the amount available for appropriations
in the General Fund is $9,921,813. This certified amount is the
result of the actual unreserved fund balance ($19,337,343) at June 30,
1996 exceeding the amount projected and appropriated ($9,415,530) in
the FY 1996-97 budget.
Enclosed for your consideration is a bill appropriating $5,563,604 to
various accounts in the General Fund. In determining the appropriate
use of the excess fund balance, we need to prudently assess our
current needs, revenue outlook and upcoming obligations.
Major expenditure items to be funded with this bill include:
$2,500,000 for collective bargaining wage increases
900,000 for Council discretionary expenditures
500,000 for proper maintenance of flood control and drainage
structures
479,200 to cover the shortfall in the ERS contribution account.
We are recommending that $4,358,209 of the available fund balance
not be appropriated at this time as a precautionary measure to insure
that the county remains fiscally sound. At the present time, real
property taa valuations show no signs of improvement; the TAT
distribution formula is in jeopardy; and uncontrollable costs, such as
debt service and retirement contributions, are increasing.
Should you have any questions, please feel free to call.
~0. 15S'
EPHEN K~ YAMASHIRO
Mayor, County of Hawaii die '.40._ oPl
At t . 8: ll/ 2/ [*ef. To: 40 b~N y\ \
DEB 1 4 1997
ktef. [)ace
oJNtY Oi N~~/
AARON S.Y. CHUNG y6r;~; Phone: (808) 961-8396
Councilmember FAX: (SOS) 969-3291
:;°a-~~•
~~•OF~N~~
COUNTY COUNCIL
County of Hawaii
Hawaii County Building
25 Aupuni Street
Hilo, Hawaii 96720
February 18, 1997
Mr. James Y. Arakaki, Chair
Hawaii County Council
Hilo, Hawaii 96720
RE: General Fund Fund Balance
Pursuant to Section 1(e) of Rule 4 of the Rules of Procedure of
the Council of the County of Hawaii, this written approval is
submitted in regards to Bill No. 45 relating to the General
Fund Fund Balance, waiving said referral from the Committee on
Finance in order that appropriate action can be taken by the
Council.
In reviewing the contents of the referral, it is deemed advisable
that such waiver be granted.
Aaron S.Y. Chung, Ch it
Committee on Finane
Approved:
Ja Y. Arakaki, Chair
aw ii County Council
AC/jmn