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Recorder-Clerk/Registrar of Voters recommending Chairman be authorized to sign Budget Transfer 28183 decreasing revenues by $431,648 and decreasing appropriations by $132,309 in the Recorder-Clerk/Registrar of Voters operating budget; increasing revenues and appropriations in the Modernizations Special Revenue Fund by $162,000; decreasing revenues and appropriations in the Micrographics Special Revenue Fund by $82,308; and decreasing the General Fund appropriation for contingency by $299,339 in order to comply with Board Policy B-1. (4/5 vote required)
RECOMMENDED ACTION: Approve.
FUNDING: Modernization Special Revenue and contingency.
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Fiscal Impact/Change to Net County Cost: General Fund Appropriation for Contingency will be reduced by $299,339.
Background: The Recorder-Clerk budget has been heavily impacted by the dismal housing market. As a result, recording fees are projected to come in well below budget, resulting in a projected Net County Cost overage of $462,000 at the end of the fiscal year. The department has taken steps to reduce expenditures, including holding two vacancies open. In addition, in order to reduce the impact of this revenue shortfall on the General Fund, the department is requesting to increase transfers from its modernization special revenue fund into its operating fund in the amount of $162,000. The remaining gap and increase in Net County Cost for the department through the end of the fiscal year is estimated at $299,339. The department requests that this amount be transferred from General Fund Contingency.
Reason for Recommendation:Comply with Board Policy B-1
Action to be taken following Board approval: CAO to process budget transfer.
Contact William E Schultz
Concurrences: