HomeMy WebLinkAboutCOM 0533.001 2004-2006 ~tY Os N
Harry Kim ~;~.C William "Cakaba
Mn~'ur~ ~ ~ Direc[nr
:i: . Nancy E. Crawford
ITS OI~M~~
UPpU!)' U(YPCIOI'
County of Hawaii
Finance Department _ ~
2s Aupuni Street, Room I I8 • Hilo, Hawaii 96720
(808)901-8234 • Pax (8081901 -R24R
MEMORANDUM
DATE: December 8, 2005
TO: The Honorable Stacey K. Higa, Chairman,
and Members of the Hawaii County Council
FROM: Nancy Crawford
Deputy Finance Director
RE: Bill 170, Amending Ordinance No. 05-87
Adding North Kona Connector Roads Project
Bruce McClure informed me that there was some confusion at the County
Council meeting this week regarding the source of funding for the referenced bill.
I am responding on his behalf to clarify the use of terminology in the bill.
The Finance Director's transmittal letter and the Project Data/Financial Impact
Statement correctly identify fair share assessment contributions as the source of
funding for the North Kona Connector Roads project. "Fund Balance -
Designated" is the actual name of the account in which the fair share funds are
recorded in the Capital Improvement Fund budget. It represents accounting
terminology used for financial reporting, and indicates that the funds are reserved
for specific purposes. This account is routinely referenced when fair share funds
are to be used in a project.
I apologize for any confusion that may have resulted from the variance in
terminology, and hope this communication addresses your concerns. Please
don't hesitate to call me at 961-8092, if I may be of further assistance.
cc: Mayor
Bruce McClure S3 3. ~
Comm. No.
Ref. To:
Ref. bare
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