HomeMy WebLinkAboutREP FC 535 03/24/1992 REPORT OF THE
COMMITTEE ON FINANCE
Date: March 24 , 1992 Re: Comm. 3422
Place: Councilroom -
Time: 10 :30 a .m.
Chairman and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Bill 593, reports
as follows :
The purpose of Bill 593 is to close the Hawaii Redevelopment Agency
Fund.
Communication No . 3422, from Finance Director William Takaba, dated
March 16, 1992, submits Bill 593 to transfer the unencumbered
balances in the Hawaii Redevelopment Agency (HRA) Fund to the
General Fund and closes the HRA Fund after that transfer is made.
The last year the County funded the HRA was fiscal year 1989-90; and
in the fiscal year 1990-91, the responsibilities of the HRA were
distributed to other County agencies leaving the HRA unfunded. In
recent years all operating funds had come from a General Fund
subsidy. The bill proposes to transfer the small remaining balance
of $1,493 . 92 to the General Fund.
In the future the County can again create a redevelopment agency,
pursuant to Chapter 53 of HRS, if circumstances warrant such a fund.
Your Committee on Finance is in accord with the intent and purpose
of Bill 593 and recommends that it pass first reading .
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HELENE H. HALE, CHAIRWOMAN
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ROBERT H. MAKUAKANE, VICE CHR. BRIAN J. LIMA, MEMB R
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HARRY S RUDDLE, MEMBER SPENCER K. 'CHUTTE, MEMBER
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FC REPORT NOS 535
ADOPTED: APR 1 5 1992