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Community Development Agency, Administration and Finance Division, recommending the Board approve and authorize the Chair to sign a budget transfer in the amount of $800,000 adjusting the County Engineer operating budget and the County Engineer Time and Materials Special Revenue Fund for Fiscal Year 2014/15 to accommodate expenditures and revenues based on year-to-date actuals and projections. (4/5 vote required)
FUNDING: Development-based fees. (No Federal Funds)
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DEPARTMENT RECOMMENDATION
The Community Development Agency Administration and Finance Division recommends that the Board approve a budget transfer adjusting the County Engineer operating budget and the County Engineer Time and Materials Special Revenue Fund for Fiscal Year 2014/15. Increases in County Engineer development related work funded by developer deposits, along with the retirement of Transportation staff previously assigned to the County Engineer function necessitate a shift and overall increase in revenues and appropriations.
DISCUSSION / BACKGROUND
County customers involved in development-related activity which is processed by the County Engineer function of the Agency's Transportation Division are required to make initial deposits of funds into a Time and Material Special Revenue Fund, which are used to fund staff and consultant work. If these deposits are exhausted, the Agency directly bills customers for actual time and material costs. When the Agency's annual budget is created, the percentage of revenue for the County Engineer function from deposits vs. direct billings are estimated based on history and projected activity.
In the current fiscal year, the percentage of revenue collected as deposits is higher than projected, therefore the Agency needs to increase the budgeted revenue in the County Engineer Time and Material Special Revenue Fund by $200,000. Additionally, the budgeted appropriations for Operating Transfers Out of this special revenue fund need to be in...
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