HomeMy WebLinkAboutCOM 0025.000 2024-2026Mitchell D. Roth
Mayor
Diane Nakagawa
Director
Aaron K. H. Brown
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 15, 2024
Heather Kimball, Council Chair and
Members of the Hawaii County Council -
Hawai`i County Council
25 Aupuni Street
Hilo, Hawaii 96720
Re: Fund Balance Notification for June 30, 2024
Pursuant to Hawai'i County Code Section 2-12.4, I am transmitting the June 30, 2024, fund
balance information:
Fund Balance $ 174,911,022.65
Fund Balance Designated for Future Year 37,577,091.00
Total Budgetary Fund Balance, June 30, 2024 212.488.113.65
The fund balance is primarily the result of the higher than expected collections in real property
tax, transient accommodations tax, and interest revenues. Difficulties in filling positions have
also caused lower than anticipated expenditures in salaries and wages. Another component of
the fund balance is the unappropriated fund balance from the prior fiscal year.
This fund balance will be necessary in meeting next year's budgetary needs as well as other
expected financial obligations. Balancing the fiscal year 2025-26 budget will continue to be
challenging given the current economic climate which has caused most of our costs to rise, as
well as accounting for potential changes to all eight collective bargaining units.
Should you have any questions regarding this information, please feel free to contact me.
Diane Na agawa
Finance Director
Cornr�. No. 25
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kct` Hawaii County is an Equal Opportunity Employer and Provider,ce