Title
Chief Administrative Office recommending the Board approve a budget transfer recognizing unexpected settlement revenue and budgeting a contribution to the El Dorado County Resource Conservation District and Georgetown Divide Resource Conservation District for adjustments based on growth in assessed value per the agreements approved with Legistar 16-0683, for the Fiscal Years 2017-18 through (4/5 vote required).
FUNDING: General Fund.
Body
DISCUSSION / BACKGROUND
On June 28, 2016 with Legistar item 16-0683, the Board approved Agreements with the El Dorado County Resource Conservation District and Georgetown Divide Resource Conservation District in the amount of $325,400 each for a total cost of $813,500 for a term to expire June 30, 2021 to identify responsibilities and establish areas of cooperative effort for all parties regarding erosion, sediment control and watershed management. The agreements included an advance of funds for FY 2017-18 through FY 2020-21 totaling $650,800. Beginning in FY 2017-18 through FY 2020-21, per the contract the annual allocation amount is to be adjusted based on the change in assessed value; however, the payments to the Resource Conversation Districts (RCDs) for FY 2017-19 thru FY 2020-21 did not include this annual adjustment.
Staff have met with RCD staff and determined the following adjustment calculations:
Prior Year Amount Increase in Assessed Value New Value Difference from $81,350
FY 2017-18 $81,350.00 5.14711% $85,537.17 $4,187.17
FY 2018-19 $85,537.17 5.66583% $90,383.56 $9,033.56
FY 2019-20 $90,383.56 5.85142% $95,672.29 $14,322.29
FY 2020-21 $95,672.29 4.02290% $99,521.09 $18,171.09
Due to RCD per District $45,714.11
Total Due to RCD for both Districts $91,428.23
A budget transfer has been prepared to budget the $91,429 contribution to the RCD in non-departmental expenses where General Fund contributions are budgeted. To balance the increased appropriations in non-departmen...
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