DATE: June 20, 2017
TO: Board of Supervisors
SUBMITTED BY: Steven E. White, Director
Department of Public Works and Planning
SUBJECT: Public Works & Planning FY 2016-17 Year-End Budget Adjustments
RECOMMENDED ACTION(S):
TITLE
1. Adopt Budget Resolution increasing the FY 2016-17 appropriations and estimated revenues in the Department of Public Works and Planning, HOME Investment Fund Org 1202 in the amount of $235,000 (4/5 vote).
2. Adopt Budget Resolution increasing the FY 2016-17 appropriations and estimated revenues in the Department of Public Works and Planning, HOME Program 2000 Org 55122008 in the amount of $235,000 (4/5 vote).
REPORT
The recommended actions are year-end adjustments for two Orgs within the Department of Public Works and Planning.
ALTERNATIVE ACTION(S):
Your Board may elect to not approve the recommended actions. Should your Board not approve the recommended actions, Public Works and Planning would not be able to meet Federal guidelines regarding the HOME Program.
FISCAL IMPACT:
There is no increase in Net County Cost associated with the recommended actions. The recommended actions are necessary to make year-end budget adjustments to two Department of Public Works and Planning Orgs. Approval of the first recommended action will increase the FY 2016-17 appropriations and estimated revenues in the HOME Investment Fund Org 1202 in the amount of $235,000 to fund an Operating Transfer Out to the HOME Program 2000 Org 55122008 using unanticipated revenue received related to housing rehabilitation loan repayments. Approval of the second recommended action will increase the FY 2016-17 appropriations and estimated revenues by $235,000 in the HOME Program 2000 Org 55122008 through an Operating Transfer In from the HOME Investment Fund Org 1202.
DISCUSSION:
The recommended actions represent year-end adjustments that need to be made for Public Works and Planning.
Recommended Action No. 1: Increases appropriations and estimated revenues in HOME Investment Fund Org 1202 in the amount of $235,000. This Org is primarily used to receive and transfer HOME Investment Partnerships’ Grant program income to the HOME Program 2000 Org 55122008. The recommended action is needed due to more housing loan repayments received than anticipated.
Recommended Actions No. 2: Increases appropriations and estimated revenues in Home Program 2000 Org 55122008 in the amount of $235,000 to recognize the proper source of the revenue. This Org is used to provide funds for housing rehabilitation loans, homebuyer loans for home ownership, and loans for affordable housing development projects and is an ongoing grant program. Funds will come from the Special Revenue Fund, HOME Investment Fund Org 1202 through an Operating Transfer In.
ATTACHMENTS INCLUDED AND/OR ON FILE:
On file with Clerk - Budget Resolution Org 1202
On file with Clerk - Budget Resolution Org 55122008
CAO ANALYST:
John Hays