HomeMy WebLinkAboutCOM 0804.002 2002-2004
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Harry Kim William Takaba
Director
Mayor
t,
•:y., Nancy E. Crawford
Deputy Director
County of Hawaii
Finance Department
25 Aupuni Street, Room 118 • Hilo, Hawaii 96720
(808) 961-8234 • Fax (808) 961-8248
October 14, 2004
The Honorable James Arakaki, Chairman,
and Members of the Hawai'i County Council
County of Hawai'i s
Hilo, Hawai'i 96720
Dear Chairman Arakaki and Members of the County Council:
SUBJECT: BILL 350 -GENERAL FUND FUND BALANCE- SELF
INSURANCE
Communication 804 on the Finance Committee agenda for October 19, 2004
refers to several immediate needs to be funded by available General Fund fund
balance. Requested in the referenced bill is $2,500,000 for the Self Insurance
Fund.
The current balance in the Self Insurance Fund is $1,392,679.73. In previous
fiscal years Council authorized settlements of $1,350,000 to be paid from these
funds, virtually exhausting them. In the current fiscal year Council authorized
additional settlement payments of approximately $1,800,000 that must be
funded.
Our request includes an additional $700,000 that would allow us to maintain a
prudent reserve in the Self Insurance Fund. Thank you for your consideration of
our request. If you would like additional information, please don't hesitate to call
me.
Sincerely,
Nancy Crawford
Deputy Director o Finance
cc: Harry Kim, Mayor Comm. No. V" tf Z
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Ref. To:
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