HomeMy WebLinkAboutCOM 0755.030 2022-2024 JMtY'.0'-�'r�lj.
Dr. Holeka Goro Inaba cP.•��' ?., Office: (808) 323-4280
Council Nfember, District 8, N. Kona Email: holeka.iiiaba@hmi,ailcoitiity.gov
hm3'ailcoltraty.gov
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HAWAII COUNTY COUNCIL
County of Hmvai`i
West Hmilai'i Civic Center, Bldg. A
74-5044 Ane Keohokalole Hti)r
Kailua-Kona, Hawai'i 96740 _ —
Memorandum No. 02
TO: Heather L, Kimball, Council Chair
and Members of the Hawaii County Council r a
FROM: Dr. Holeka Goro Inaba, Council Member
Council District 8
DATE: May 28, 2024
SUBJECT: Proposed Amendment to Bill No. 136, Draft 3, the Proposed Operating Budget
for Fiscal Year 20242025
Below is a proposed amendment to Bill No, 136,Draft 3, the proposed Operating Budget for
fiscal year 2024-2025, to amend appropriations in the following General Fund revenue and
expenditure accounts:
• Decrease the Real Property Taxes revenue account by $2,741,239,which is the
difference in revenue should Resolution No. 525-24 pass lowering the tax rates for
Affordable Rental Housing and Homeowner classifications to $5.75 instead of the
Mayor's proposed rates of$5.95;
• Increase the Fuad Balance Frona Previous Year revenue account by $2,741,239 to offset
the revenue loss in real property tax; and
• Funding to the three expenditure accounts below are based on a certain percentage of real
property tax revenue; therefore, due to the decrease in real property tax revenue, the
accounts will be decreased as follows:
o Transfer to Disaster/Emergency Fund account by $27,412;
o Transfer to Public Access/Open Space Preservation Fund account by $54,825; and
o Transfer to Public Access/Open Space Preservation iWaintenance Fund account
by $6,853.
Amendments to the General Fund accounts are shown in detail in the table below:
Comm. No. rJ' �ii�k
Ref. To:
Ref, nate:jwa 2
Hawaii County Is an Equal Opportunity Provider and Employer
Genet-at l4nul
Revised
2024-2025 2024-2025
Account No. Account Aesctiplion Estirmte Ad(V(Redtice) Esdinate
Reimme
010.3101.10 Real Pi-opeltyTaxcs 492,000,000 (2,741,239) 489,258,761
010.3609.10 Fwtd Bal From M-evious Yew 37,577,091 2,741,239 40,318,330
Total Revenue Adjushnent 0
E-penditure
010.801.5801.49 'Iis to t7isasYnix9g Rutd 4,920,000 (27,412) 4,892,588
341 Tris to Disast/Dwg Fund,Mise.Ch ages 4,920,000 (27,412) 4,892,588
1 -TRANS TO DISA.ST-MERG FUND 4,920,000 (27,412) 4,892,588
010.801.5801.52 Tr to Pub Ac&Op Sp Mrs Fund 9,950,000 (54,825) 9,895,175
341 Tr Pub AcclOp Sp Pres Ruud,Misc.Charges 9,950,000 (54,825) 9,895,175
1-TR TO PUB ACCOP SP PRGS FUND 9,950,000 (54,825) 9,895,175
010.801.5801.55 Tr to Pub Acc/Op Sp Rrs NWnt Fad 1,234,750 (6,853) 1,227,897
341 Tr to Rib Aee/Op Sp Pres Maint Rid,Msc.Charges 1,234,750 (6,853) 1,227,897
1-TR TO PUB ACCJOP SP PRF.S MAIM'FUND 1,234,750 (6,853) 1,227,897
Total Expenditure Adjustment (891(90)
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