HomeMy WebLinkAboutREP FC 201 2024/09/16 2022-2024 REPORT OF THE
COMMITTEE ON FINANCE
DATE: September 16, 2024 Re: Comm. No. 1022/Bill No. 202
PLACE: Council Chambers
Kailua-Kona, Hawai`i
TIME: 3:01 p.m.
Council Chair and Members
Hawai`i County Council
Hilo, Hawai`i 96720
Your Committee on Finance, to which was referred Bill No. 202, reports as follows:
Bill No. 202, transmitted by Director of Finance Diane Nakagawa via Communication No. 1022, dated
August 28, 2024, amends Ordinance No. 24-32, as amended,the Operating Budget for the County of
Hawai`i for the fiscal year ending June 30, 2025.
This bill increases revenues in the Fund Balance From Previous Year account($7.4 million); and
appropriates the same to the Housing Production account to fund a grant agreement with Kamakoa Nui
LP for the Na Hale Makoa Project($2 million) and the Kamakoa Nui Workforce Housing Mini-Loop
Road/Infrastructure project($5.4 million).
Housing and Community Developement Specialist Royce Shiroma and Finance Director
Diane Nakagawa were available in chambers.
Committee Member Ashley Kierkiewicz asked whether this is a reallocation of the balance from the first
awarding of the housing production funding. Mr. Shiroma stated that at the end of each fiscal year,the
Affordable Housing Production Fund goes back into the pot and does not lapse so, Housing has to
reappropriate funds to projects from the previous fiscal year to prevent encumbering funds for the next
fiscal year.
Ms. Nakagawa further clarified the process on how the fund balance is determined.
Your Committee on Finance is in accord with the purpose and intent of Bill No. 202, and recommends
its passage on first reading.
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AYES NOES ABS EX Respectfully submitted,
EVANS X
GALIMBA X COMMITTEE ON FINANCE
INABA X
KAGIWADA X
KANEALI`I-KLEINFELDER X
KIERKIEWICZ x MATT 7 EAL I-KLEINFELDER,
KIMBALL X CHAIR
LEE LOY X FC REPORT NO.: 201
VILLEGAS X ADOPTED: OCT 0 2 2024