REP FC 217 05/01/2012 2010-2012 - Laserfiche WebLink

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REPORT OF THE COMMITTEE ON FINANCE DATE: May 1, 2012 Re: Comm. 604/13111 197 PLACE: Council Chambers Kailua-Kona, Hawaii TIME: 8:01 a.m. Council Chair and Members Hawai `i County Council Hilo, Hawai `i 96720 Your Committee on Finance, to which was referred Bill No. 197, reports as follows: Bill No. 197, transmitted by Mayor William P. Kenoi via Communication 604, dated March 1, 2012, submits for consideration the proposed Operating Budget for the County of Hawaii for the Fiscal Year July 1, 2012 to June 30, 2013. This balanced budget includes estimated revenues and appropriations totaling $365,293,348 (Part I -Volume I), and includes the operations of eleven of the County's special funds as well as the General Fund. This budget is 9.4 percent less than the budget in effect when Mayor Kenoi's administration took office in 2008. This proposed balanced budget does not require any increase in property taxes. The Mayor's budget message discusses highlights of the operating revenues and expenditure proposals. It attaches informational tables comparing 1) budgeted expenditures for FY 2011-12 and proposed for FY 2012-13 for each fund; 2) a summary of projected FY 2012-13 revenues from various sources and the change in those from the current budget; and 3) a summary of projected FY 2012-13 expenditures and the change in those from the current budget. Also listed are significant changes to operating expenditures in several categories. Also submitted is the Operating Budget Proposal (Part I, Volume II), which describes the departments and their programs, program objectives, highlights, program measures, expenditures, and positions. Additionally, Communication No. 604.1 from Finance Director Nancy Crawford, dated March 1, 2012, transmitted a booklet containing reports titled Six Month Progress Report on Program Objectives for FY 2011-12 and Final Status Report on Program Objectives for FY 2010-11. These reports provide information to the Council to assist in the evaluation of program accomplishments during the first six months of the current fiscal year and for the previous 2010-11 fiscal year. The highlights of the operating revenue proposal are as follows: • Real Property Tax — Real property tax revenues are expected to decrease by 4.2%, or $8.8 million, due to an estimated 4.0% decline in taxable values. FC Rept. No. 217