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HomeMy WebLinkAboutCOM 0890.000 2004-2006 JdtY'oa hq!Y Harrv Kim William Takaba Adayor hd% Director Nancy E. Crawford 'J. _ << ` '.1P. Deputy Director CF4•OOpd' County of Hawaii Finance Department 25 Aupuni Street, Room 118 • Hilo, Hawaii 96720 (808) 961-8234 • Fax(808)961-8248 May 3, 2006 Stacy K. Higa, Chairperson and Members of the Hawai'i County Council Hawai'i County Council 25 Aupuni Street Hilo, Hawai'i 96720 Re: Amendment to the Hawai'i County Code The Proposed Operating Budget for FY 2006-07, submitted to the County Council on March 1, 2006, contained an appropriation of $500,000 to the Disaster and Emergency Fund. To better manage this fund, we are proposing to amend sections within the Hawai'i County Code 1983 (2005 Edition) that pertain to this fund by eliminating the maximum appropriation of $1,000,000 per year and its accumulated maximum of $5,000,000; and by including the allowance to pay for operational expense of the County after a disaster or emergency when the County is unable to realize revenue at sufficient levels due to the disaster or emergency. Enclosed is a bill for an ordinance amending Chapter 2, Article 41, Section 2-209 and 2- 210 of the Hawai'i County Code 1983 (2005 Edition), with the aforementioned amendments relating to the Disaster and Emergency Fund. The March 1" budget also included an appropriation of $4,000,000 towards the "Rainy Day" fund. Pursuant to the Hawaii County Charter 2000, Section 10 -12, titled Special Funds, upon recommendation of the mayor, the council may by ordinance establish such special funds as may be necessary for the proper and efficient segregation of fiscal operations of the county. This new special fund, to be called the Budget Stabilization Fund, is created for the purpose of meeting general fund revenue shortfalls and to minimize the need for budget cuts or tax increases. The Budget Stabilization Fund will be a temporary supplement source of funds for the County to use during times of financial hardships while a plan for cost reduction or revenue enhancement is developed. Also enclosed is a bill for an ordinance amending the Hawai'i County Code 1983 (2005 Edition) by adding a new article to create the Budget Stabilization Fund and to specify its funding, use of funds, appropriations, and prohibition. Ref. To: Ref. [)ate „~a.,~ Hawaii County is an Equal Opportunity Provider and Employer A-. Stacy K. Higa, Chairperson and Members of the Hawai'i County Council Page 2 May 3, 2006 If there are any questions, please do not hesitate to call me. William akaba Director of Finance APPROVED: Harry Kim ti Mayor Enc.