Title
Chief Administrative Office recommending budget transfer recognizing prior year actual and current year projected increases in Realignment Vehicle License Fee (VLF) and Sales Tax revenues for the Mental Health, Human Services and Public Health departments. (4/5 vote required)
RECOMMENDED ACTION: Approve.
FUNDING: Realignment Sales Tax and VLF Revenues / Gen Fund
Body
BUDGET SUMMARY:
Total Estimated Cost $158,238
Funding
Budgeted $0
New Funding $
Savings $
Other $
Total Funding Available $0
Change To Net County Cost $158,238
Fical Impact: Increases for current year revenues will be offset by a corresponding increase in appropriations within each department’s special revenue fund (no change to Net County Cost). Adjustments for prior year revenues result in a decrease of $158,238 to General Fund Contingency.
Reason for Recommendation:
1) Current year Realignment Sales Tax and Vehicle License Fee (VLF) revenues are projected to be greater than budgeted. A budget transfer is necessary to recognize the additional anticipated revenues and appropriate them for transfer to the special revenue funds for each department prior to the end of the fiscal year. The increases are identified in the chart below.
2) Current year available fund balance within the Mental Health realignment special revenue fund 7776410 is $167,555 greater than budgeted. A budget transfer is recommended to appropriate the available fund balance.
3) At the end of FY 2004-05 the County received VLF revenues in excess of the budgeted amount for Mental Health ($98,485) and Public Health ($59,753). These funds came in at the very end of the fiscal year and the departments did not have sufficient time to prepare a budget transfer increasing revenues and appropriations in that fiscal year. The revenues rolled into the General Fund and after discussions with staff from the Auditor’s Office it was determined...
Click here for full text