HomeMy WebLinkAboutCOM 0906.000 2008-2010 JIiZY OSp,••
: o °•• 'o• Nancy E. Crawford
'
William P. Kenoi ;' - . �,,li;
Mayor : I � . p.� 4 r, . '/ : • • ' Director
''- Deanna S. Sako
+f•S;'q!� �.` Deputy Director
County of Hawaii
Finance Department
25 Aupuni Street, Suite 2103 • Hilo, Hawaii 96720 '-'-''
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(808) 961 -8234 • Fax (808) 961 -8569 ; -;
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July 30, 2010
J Yoshimoto, Council Chair and -
Members of the Hawaii County Council
Hawaii County Council
25 Aupuni Street M -s,
Hilo, Hawaii 96720 1
Re: Operating Budget
The County of Hawaii recently issued $60 million in General Obligation Bonds (GOB), of
which the semi - autonomous Department of Water Supply (DWS) was allocated 25% of the
bond proceeds. To properly reflect the DWS' share of the interest payments due this fiscal
year, the operating budget needs to be amended.
Enclosed is a bill for an ordinance amending this fiscal year's operating budget by
increasing the Reimburse Debt Service - DWS revenue account by $432,968.35 and
appropriating these funds into the Interest on G.O. Bonds - County expenditure account.
If there are any questions, please do not hesitate to Ms. Deanna Sako, Deputy Director of
Finance.
1{
Nancy E. Crawford
Director of Finance
Enc.
cc: Treasury Division
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Ref. To: FL
Ref, Date _ ` 2 010
Hawaii County is an Equal Opportunity Provider and Employer
Form #: B -52
7/18/91
DEPARTMENT OF FINANCE
REQUEST FOR COUNCIL ACTION
DEPARTMENT: Finance DATE: 7/28/10
STAFF CONTACT: Mike Okumoto PHONE: 933 -6240
A. REQUEST:
Increase expenditure account 5803.01.341 Interest on G.O. Bonds - County, Misc. Changes by $432,968.35.
Increase revenue account 3609.32 Reimb Debt Svc - DWS by $432,968.35.
B. BACKGROUND AND JUSTIFICATION (USE ADDITIONAL SHEETS AS NEEDED):
The County issued $60 milllion in G.O. bonds. The Department of Water Supply was allocated 25% of the
bond proceeds. This request sets up the accounting to reflect Water Supply's share of the interest payments
due this fiscal year.
SIGNED:
141411 f DATE: 7/29/10
Depa ent Head