DATE: February 6, 2018
TO: Board of Supervisors
SUBMITTED BY: Steven E. White, Director
Department of Public Works and Planning
SUBJECT: Budget Resolutions for HOME and CalHOME Programs
RECOMMENDED ACTION(S):
TITLE
1. Approve Budget Resolution decreasing the FY 2017-18 appropriations and estimated revenues in Public Works and Planning-Grants Org 5512 in the amount of $500,000;
2. Approve Budget Resolution increasing the FY 2017-18 appropriations and estimated revenues in Public Works and Planning-Grants Org 5512 in the amount of $502,000 (4/5th vote);
3. Approve Budget Resolution increasing the FY 2017-18 appropriations in Home Investment Fund Org 1202 in the amount of $500,000 (4/5th vote);
4. Approve Budget Resolution increasing the FY 2017-18 appropriations in CalHome Reuse Account Org 1204 in the amount of $2,000 (4/5th vote)
REPORT
There is no additional Net County Cost associated with the recommended actions. The recommended actions will allow Community Development to continue operations for the HOME and CalHOME programs. This item is countywide.
ALTERNATIVE ACTION(S):
If your Board does not approve the recommended actions, there will not be enough appropriations for FY 2017-18 to spend all of the HOME funds on hand and pay all of the expenditures of the CalHome Program.
FISCAL IMPACT:
There is no increase in Net County Cost associated with the recommended actions. Approval of the first recommended action will decrease the FY 2017-18 appropriations in Public Works & Planning-Grants Org 5512 in the amount of $500,000. This is necessary due to changes in Federal accounting procedures. Approval of the second recommended action replaces the decrease in Federal revenues with an Operating Transfer In from Special Revenue Fund 0086 (Community Development) in the amount of $502,000 using existing Fund Balance. Approval of the third and fourth recommended actions will increase Operating Transfers Out for Orgs 1202 and 1204 in the amounts of $500,000 and $2,000 respectively due to changes to Federal accounting procedures and higher than anticipated expenditures.
DISCUSSION:
Public Works and Planning - Grants Org 5512 is used for various grants. Org 5512008-HOME Program 2000 is used to fund a variety of housing programs for low-income residents in Fresno County. Due to changes in Federal accounting procedures, the first recommended action will decrease appropriations and estimated revenues from Federal sources in Org 55122008 in the amount of $500,000.
Org 55122013 (CalHome 2005) is used to pay for the expenses associated with the required loan servicing of loans funded with the CalHOME Program. The second recommend action will increase appropriations and estimated revenues in Org 55122008 in the amount of $500,000 for an Operating Transfer In from Special Revenue 0086, Org 1202 and increase appropriations and estimated revenues in Org 55122013 in the amount of $2,000 for an Operating Transfer In from Special Revenue Fund 0086, Org 1204.
Recommended actions three and four will increase Operating Transfers Out for Orgs 1202 and 1204 in the amount of $500,000 and $2,000 respectively using Fund Balance.
ATTACHMENTS INCLUDED AND/OR ON FILE:
On file with Clerk - Budget Resolution (Org 5512-Decrease)
On file with Clerk - Budget Resolution (Org 5512-Increase)
On file with Clerk - Budget Resolution (Org 1202)
On file with Clerk - Budget Resolution (Org 1204)
CAO ANALYST:
John Hays