Title
Receive and accept the bi-annual financial report for the Information Technology Department (ITD) for FY 2023-24.
Report
RECOMMENDATION:
It is recommended that the Budget Committee:
Receive and accept the bi-annual financial report for the Information Technology Department (ITD) for FY 2023-24.
SUMMARY:
This report is ITD’s bi-annual report of FY 2023-24. It is estimated that ITD will end the year with a surplus of $548,652 of budgeted appropriations.
DISCUSSION:
The attached report (Exhibit A) is an overview of ITD’s FY 2023-24 approved budget, estimated year end totals, and the variance between.
Mid-Year report and year-end estimates are based upon system reports and information as of December 31, 2023. Estimated year end expenditures total $33.9 million against a budget of $34.5 million, which is a variance of $527k. This estimated savings is a direct reflection of the unanticipated salary savings due to the current vacancies. Operational Service and Supply costs as well as budgeted Capital Improvement expenditures are both anticipated to come in at budget. Cost Plan Allocation will come in with a slight additional amount of $1.8k over planned budget. Contra income from internal County Department customers is tracking to show a year-end surplus estimate of $19k. Revenue is also estimated to come in at budget of $.5 million. The total estimate for ITD’s year-end status is a surplus of $548,652.
OTHER AGENCY INVOLVEMENT:
No other agency involvement.
FINANCING:
ITD estimates ending fiscal year 2023-24 with an overall underrun of $548,652 in GFC.
Prepared by:
______________________ Date: ________________
Kathy Wells, Finance Manager II, 796-1490
Approved by:
_________________________ Date: ___________________
Eric A. Chatham, Chief Information Officer, 759-6920
Attachments:
Exhibit A: ITD FY 2023-24 Bi-Annual Report