Title
Department of Transportation recommending the Board approve and authorize the Chair to sign a budget transfer adjusting the budget for Fiscal Year 2025-26 to allow for the transfer of approximately $400,000 additional revenues in the Road District Tax account to the Road Fund. (4/5 vote required)
FUNDING: Road District Tax Revenues.
Body
DISCUSSION / BACKGROUND
The Road District Operating Fund receives a percentage allocation of Property Taxes for the purpose of road maintenance and construction. The FY 2025-26 Budget estimated this revenue at $9,782,970, but the revenues received for Road District Tax are higher than budgeted. An additional $400,000 is projected to be received and the revised budgeted amount will be $10,182,970. This budget amendment will allow the additional revenue received to be transferred to the Road Fund.
ALTERNATIVES
The Board may elect not to approve the budget transfer as proposed, although proper accounting for the Road Fund would be jeopardized.
PRIOR BOARD ACTION
N/A
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION / COMMENTS
Approve as recommended.
FINANCIAL IMPACT
There is no Net County Cost associated with this item. The budget transfer increases operating transfers between the Road District Tax Fund and the Department of Transportation and increases revenue in the Road Fund. The department recommends increasing contingency in the Road Fund with these proceeds. If the funds are not needed in the current fiscal year, they will roll into the Road Fund’s year-end fund balance and remain available for use in FY 2026-27.
CLERK OF THE BOARD FOLLOW UP ACTIONS
The Clerk of the Board will obtain the Chair’s signature on the original budget transfer and will forward the budget transfer to the Auditor/Controller for processing.
STRATEGIC PLAN COMPONENT
Priority: N/A
Action Item: N/A
CONTACT
Rafael Martinez, Director
Department of Transportation