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Home My WebLink AboutCOM 0270.000 2004-2006 MtN Os N, Harry Kim `°'~}i- ~ William Takaba 1lapor b Direcvor Nancy E. Crawford .e~~~` Deputy Omeclor ~ Or N~ Rttti V County of Hawaii fine...'~~'._5~------BY S___J___s__/_ o__S_ _ Finance De artment P County C-.oundl 25 Aupunl SI(Cel, Ruom 118 • Hln, I lawaif 9672U [808)961-R23J rax (808)961-S24R May 5, 2005 Stacy K. Higa, Chairman and Members of the Hawaii County Council Hawaii County Council 25 Aupuni Street Hilo, Hawaii 96720 Re: GENERAL FUND'S FUND BALANCE On October 7, 2004, Mayor Harry Kim transmitted a letter to the County Council, certifying a balance of $6,697,734.37 in the General Fund's fund balance as of June 30, 2004. Since that time, the Council has approved appropriations, totaling $5,852,905, to various accounts to meet County needs. Due to a shortfall in the Office of Housing Fund, the Office of Housing and Community Development is requesting $700,000 in assistance from the General Fund. This is attributed to this fiscal year's and the prior fiscal year's federal grant revenues for the Housing Assistance Payment program administrative costs being reduced as the result of ongoing changes in the federal program. Enclosed is a bill for an ordinance amending the Operating Budget increasing the General Fund's Fund Balance of the Previous Year account by $700,000 and then appropriating it to the Transfer to Housing Fund account. Should you have any further questions, please feel free to call the Office of Housing and Community Development. Willia~a Director of Finance APPROVED: Harry Kim Mayor Enc. Comm. No. ~T_~ cc: OHCD ~p Ref. To: _~,,t F'"L v(J~-~ ~ Hawaii Counfy is an Equal Opportunity Provider and Employer Ref. Date I I{~ Form B-52 7/18/91 DEPARTMENT OF FINANCE REQUEST FOR COUNCIL ACTION DEPARTMENT: Finance DATE: 05/05/05 STAFF CONTACT: Nancy Crawford PHONE: x8092 A. REQUEST: Request appropriation of $700,000 from the General Fund Fund Balance From Previous Year for Transfer to Housing Fund to supplement Housing Assistance Payment (HAP) program revenues for administrative costs. B. BACKGROUND AND JUSTIFICATION (USE ADDITIONAL SHEETS AS NEEDEDI: For this year and the prior fiscal year federal grant revenue for the Housing Assistance Payment program administrative costs have been reduced as the result of ongoing changes in the federal program. The Housing Fund ended the prior year with a negative fund balance of $124,161 and an additional $218,162 was retroactively deducted by HUD related to the prior year. In the current year administrative costs will exceed the funding by an estimated $353,138. Refer to the attached analysis of the program's shortfall, prepared by the Office of Housing and Community Development. SIGNED: 1^~ 'I ~ DATE: ~ ~ Q Departure •iead PRIOR VR CHARGES HAP ADMIN DEPT CHARGES EST FY04-05 REVENUE HAP -SUBSIDY 9,860.592 9,860,592 HAP -ADMIN (218,162) 1,282,881 1,044,719 INTEREST HAP 888 888 MISC. RENT 45 45 DEPT. CHARGES 1,052,186 1,052,186 (218,162) 9,860,592 1,263,814 1,052,186 11,958.430 EXPENDITURES Reg S8W 955,798 719,761 1,675.560 Overtime 44,037 23,099 67.136 Misc 58W 4,294 3,573 7.868 S8W Total - - 1,004,129 746,434 1,750.563 Postage 8 Freight 31,653 1,251 32,904 Telephone 6,005 4,383 10,388 Janitorial Services 5,110 3,330 8441 Travel/Conference 20,892 35,822 5fi,714 Printing 839 159 999 Advertising 5,543 10,189 15.732 Equipment Repairs 12,082 2,119 14.201 Repalrs io Facilities 1,304 360 1,664 Equipment Rental 11,160 4,276 15436 Mileage 397 789 1,186 Electricity 9.439 6,205 15,644 Misc Contract Svc 468,078 96.440 17099 581,617 CleaninglSanilalion 505 329 834 Fuel B Lubricants 5.494 1,682 7,175 Computer B Office Sup 11,743 2,987 14,730 Misc M&S 333 428 761 Subs 8 Membership 5.567 3,581 9,147 Building Rent 20.389 - 20,389 Misc Charges 1,433 125 1,558 OCE Total 468,078 - 246,328 95.114 809,520 Motor Vehicle 24,590 - 24,590 Office Equip 38,121 - 38,121 Computer Equip 26,051 17,505 43,556 Equipment Total - - 88,763 17,505 106,267 Voucher Rental Pmis 10.342,559 10,342,559 Pension Accumulation 122,449 88,746 211,195 FICA Employer Share 75,587 54,213 129,800 Employee Health Plans 79,695 50.175 129,870 Benefits Total 277,732 193,133 470,865 OIR Contingency Total Expenditures 468,078 10,342,559 1,616,952 1 052,186 13,479,774 Revenues less expenditures (686,240) (481,987) (353,138) - (7,521,345) Prior year funtl balance (124,161) (124,161) Prior year encumbrance 468,078 4fi8,078 Estimatetl fund balance (342,323) (481,967) (353,138) - (1,177,428) General funtl transfer to cover Admin shoMall (695,461) July -December January -June July -December Shonfall to HAP Subsidy breakdown 2004 2005 2005 Revenue'. 4,808,098.00 5,052,494.00 5,052,494.00 HAP payments 5,101,136.71 5,241,421.39 4,570.527.90 Surplusl(Shortfall) (293,03871) (188,927.39) 481,90610 office budget fy04-OS 4-28-05 to budget 5/5/2005 11.43 AM