HomeMy WebLinkAboutREP FC 513 02/11/1992 Ar' " REPORT OF THE
COMMITTEE ON FINANCE
Date: February 11, 1992 Re: Comm.` 3262
Place: Councilroom
Time: 10 : 00 a .m.
Chairman and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Bill 558, reports
as follows :
The purpose of Bill 558 is to amend Ordinance 91-50, the Operating
Budget for Fiscal Year 1991-92, by increasing revenues in the
following General Fund account:
Account No . Source Amount
3501 . 05 FORFEITURE OF DEPOSITS $97, 312 . 00
and appropriating same to the following account :
010-121-5125 . 02-115 REAL PROPERTY-MISC $97, 312 . 00
CONTRACT SERV
Communication No . 3262, from Finance Director William Takaba, dated
January 22, 1992, submits a bill to amend Ordinance No . 91-50 , by
increasing revenues in the Forfeiture of Deposits account by $97,312
and appropriating said funds to the Miscellaneous Contractual
Services account of the Real Property Tax Division, enabling the
Real Property Tax Division to execute a central services agreement
with the City and County of Honolulu for the provision of data
processing, tax mapping and technical support services . Transmits
for review appropriate documentation.
Your Committee questioned the legality of Liability Fund 2229 . 02,
which is a repository for excess monies derived from auctioned
property receipts less taxes, liabilities, and penalties . Your
Committee requested Corporation Counsel to research the law or rule
which authorizes this account and to research the dates and amounts
deposited into this fund.
Your Committee questioned the method of increasing funds into the
Forfeiture of Funds stated in the documentation. Your Committee
requested the Auditor to research whether the current accounting
practice is legal and to explain the legality of using liability
funds as a revenue source. The Auditor is requested to present the
findings to the Council before 1st reading of Bill No. 558 .
FC REPORT No. 513
ADOPTED: FEB 1 9 199
FC- 513 Page 2 February 11, 1992
Your Committee on Finance is in accord with the intent and purpose
of Bill 558 and recommends that it pass first reading .
HELENE H. HALE, CHAIRWOMAN
L.)
ROBERT H. MAKUAKANE, VICE CHR. B AN J DE LI , ME' :ER
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HARRY Al RUDDLE, MEMBER • N K. SCHUTTE, MEMBER
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