HomeMy WebLinkAboutREP FC 442 12/07/1987 1984-1988 REPORT OF THE
COMMITTEE ON FINANCE
Date: December 7 , 1987 �Re: Comm. 1388
Place: Councilroom
Time: 10 :00 a.m.
Chairman and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Resolution
No. 381-87 , reports as follows:
The purpose of Resolution No . 381-87 is to transfer and appropriate
50 ,000 as follows:
Out and From:
010-911-5911 .13-341 CONTINGENCY ACCOUNT
Credited To:
010-911-5911.91-341 UNEMPLOYMENT COMPENSATION
Your Committee on Finance is aware that the present balance in the
Unemployment Compensation Account is $1 ,906 , which is insufficient
to meet the quarterly billings from the State of Hawaii . The
requirements for the remainder of the fiscal year are projected as
follows:
December 1987 $17 ,250
March 1988 17 , 250
June 1988 17 ,250
Total Estimate $51 ,750
Less Current Balance 1,906
Estimate Shortage 49 ,844
Rounded to 50 ,000 -
Your committee is further aware that the Unemployment Compensation
Account budget was reduced by $75 ,000 at the beginning of the fiscal
year and that amount was put into the Contingency Account . The
administration is asking that some monies be restored to the
Unemployment Compensation Account .
Your committee recommended amendment to Resolution 381-87 which
would have changed the "Out and From" account to
010-911-5912 . 21-339 , Miscellaneous Insurance Claims and Judgment .
FC REPORT NO ® 442
ADOPTED : JAN 6 it::
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' a • •
FC- 442 Page 2 December 7 , 1987
During the discussion, your committee heard from the Managing
Director who expressed a concern that it was not the prerogative of
the Council to shift funds from one account to another . He further
stated that according to provisions of the Charter , the Mayor can
exercise this function with the approval of the Council .
Members of the committee expressed agreement with the line of
reasoning and, therefore, withdrew their motion to approve the
resolution, as amended . However , your committee urges the
administration to strongly consider the Miscellaneous Insurance
Claims and Adjustments Account as the source of the funds for
replenishing the Unemployment Compensation Account .
Accordingly, your Committee on Finance recommends that
Resolution 381-87 ,be filed .
4111.004460
FRANK DE LUZ III, CHAIRMAN
LORRAI • R. I 'AKU-INO E, .C. K. DAHLBERG, MEMBER
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TAKASHI DOMINGO, MEMB:R RUSSELL S. KOKUBUN, MEMBER
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MERL• K. LAI , MEMBER SPENCER K. SCHUTTE, MEMBER
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