HomeMy WebLinkAboutREP FC 302 05/16/2006 2004-2006 REPORT OF THE
COMMITTEE ON FINANCE
DATE: May 16, 2006 Re: Comm. No. 890Bi11 No. 292
PLACE: Council Chambers
TIME: 10:03 a.m.
Council Chair and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Bill No. 292, reports as follows:
Bill No. 292, transmitted by Director of Finance William Takaba, via Communication No. 890,
dated May 3, 2006, amends Chapter 2, Hawaii County Code 1983 (2005 Edition),
Administration, relating to Budget Stabilization Fund.
The purpose of this measure is to add a new article to create the Budget Stabilization Fund and to
specify its funding, use of funds, appropriations, and prohibition.
Pursuant to Section 10-12, Hawaii County Charter, 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.
Council Member Donald Ikeda, as directed by the Legislative Research Branch, requested a
friendly amendment to Bill 292 by amending section 2- Prohibition to read as follows:
"Appropriations from the budget stabilization fund to fund the acquisition, construction or
alteration of a facility as part of a general capital improvement program shall be prohibited."
Your Committee on Finance is in accord with the purpose and intent of Bill No. 292, as amended
to Draft 2, and recommends it pass first reading.
smc
noes xoes n&e ex Respectfully submitted,
ARAKAHI X
fficA X COMMITTEE ON FINANCE
HOFFMANN X
HOLSCHUH X ~
IKEDA X '
ISBELL X ~ ~~t"--
aACOSSON X VIRG IA ISBELL, CHAIR
rH,ACO X FC REPORT N0. 302
SAFARIK x ADOPTED: JUN 0 5 2006