HomeMy WebLinkAboutREP FC 106 05/17/2005 2004-2006 REPORT OF THE
COMMITTEE ON FINANCE
DATE: May 17, 2005 Re: Comm. No. 270/Bill No. 105
PLACE: Council Chambers
TIME: 9:06 a.m.
Council Chair and Members
Hawaii County Cowicil
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Bill No. 105, reports as follows:
Bill No. 105, transmitted by Director of Finance William Takaba, via Communication No. 27U,
dated May 5, 2005, amends Ordinance No. 04-74, as amended, the Operating Budget, ending
June 30, 2005. The amendment is as follows:
From:
3609.10 Fund Balance from Previous Year General $700,000
I'o:
010-801-5801.32 Transfer to Housing Fund General $700,000
Due to a shortfall in the Office of I lousing 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 iu the
Federal program. Should this not he approved, the shortfall would affect one-third of the
administrative staff of the Office of Housing and Community Development, thus affecting the
service to approximately 600 families.
Your Committee on Finance is in accord with the purpose and intent of Bill No. 105 and
recommends it pass first reading.
smc
nves woes .~~e es Respectfully submitted,
ARAKA KI X
RICA x _ COMMITTEE ON FINANCE
HOFFMANN X
HOLSCHUH X
IKEDA X _ ~ ~ ~
I ~ o / 7
ISBELL X _ % ~
aACOSSON x _ VIR NIA ISBELL, CHAIR
PILACO X PC REPORT NO. 10G
sAFARIK x - - Aoo~TF,~: JUN 0 1 2005