HomeMy WebLinkAboutCOM 0131.001 2006-2008 MfY Or~
Harry Kim ~'`y, ~ William Takaba
Mayor ~ Director
i
- Nancy E. Crawford
a+'•': De u Director
~+i o~'wiir~ n,7 r~ {111 q 7 1 P N
t:a f t d L
County of Hawaii
Finance Department ~
25 Aupuni S[reeL Room 118 Hilo, Hawaii 96720
(808) 96I-8234. Fax (808) 961-8248
January 31, 2007
Pete Hoffmann, Chairman and
Members of the Hawaii County Council
Hawaii County Council
25 Aupuni Street
Hilo, Hawaii 96720
Re: GENERAL FUND'S FUND BALANCE
On January 24, 2007, Mayor Harry Kim transmitted a letter to the County Council, certifying a balance
of $11,049,514.76 in the General Fund's fund balance as of June 30, 2006. Bill 37, which is on the
Finance Committee Meeting agenda scheduled for February 6, 2007, appropriates the General Fund's
fund balance to selected County's Departments/Agencies accounts. We were just informed that the
County's insurance policy cost has increased from what is in the current fiscal year's budget
($165,000) and what was to be supplemented by $46,000 from the fund balance. With the new
insurance policy cost now at $397,784, we humbly request that an $186,784 be taken from the
Transfer to Budget Stabilization Fund account appropriation and used instead for the insurance policy,
listed under the Building R&M OCE account. The increased cost is due to a rippling effect from the
past natural disasters (hurricanes on the mainland during 2005 and the October 2006 earthquakes in
the State of Hawaii) and the coverage of additional County facilities and locations.
a propa.xA
Enclosed i~Draft 2 of Bill 37, which increases the Building R&M - OCE account (010.171.5171.22) by
$186,784 and reduces the Transfer to Budget Stabilization Fund account (010.801.5801.53) by that
same amount.
Should you have any further questions, please feel free to call the Department of Public Works or
Sco~tt~~Kn~owles, the County's Risk Management Officer.
~'VV"w~ ~
William Takaba
Director of Finance
APPROVED:
C-~G
/Harry Kim
4 Mayor
Enc. Comm. No. ~ 31 •
Ref. To: Pre°'r`xt°'C F_~
cc: Public Works, Risk Management Division ,<t,f. mate FE6 ~ ~ 2007
Hawaii County is an Equal Opportunity Provider and Employer