Title
Approval of Budget Revision 2027-14 for Correction of Interdepartmental Charges Budgets for Various Departments for FY27
Recommended Action
I move that Council approve Budget Revision 2027-14 for Correction of Interdepartmental Charges Budgets for Various Departments for FY27 and include Attachment A as part of minutes of this meeting.
County Manager's Recommendation
The County Manager recommends that Council approve the motion as presented.
Body
During FY27 Budget Hearings, Council approved the various interdepartmental charges for all departments. After review, the budget team found some needed corrections to the IDC Budgets in order for the accounts to balance. The purpose of this revision is to tie out IDC budgeted revenue and expenditures to the amounts calculated in the FY27 budget development process. Fiscal impact: Increase in Fund balances of: $1,691,497; decrease in expenditures of $18,083. Please see Attachment A attached with more details.
Alternatives
Should Council choose not to approve the budget revision, our revenues will not tie with our expenditures as we had originally built out in our budget development, which could potentially create budgetary issues in the future.
Fiscal and Staff Impact/Planned Item
The net fiscal impact is an increase to General Fund revenue of $1,673,416, a decrease to Transit Fund expense of $17,658, a decrease to General Fund expense of $206, a decrease to Property Tax Valuation Fund of $219, and a decrease to Fleet revenue of $2. There is minimal staff impact.
Attachments
A - Budget Revision 2027-14