Title
Receive and accept the bi-annual financial report for the Information Technology Department (ITD) for Fiscal Year (FY) 2022-23.
Report
RECOMMENDATION:
It is recommended that the Budget Committee:
Receive and accept the bi-annual financial report for the Information Technology Department (ITD) for Fiscal Year (FY) 2022-23.
SUMMARY:
This report is ITD's bi-annual report of FY 2022-23. It is estimated that ITD will end the year with a surplus of $371,535 of budgeted appropriations.
DISCUSSION:
The attached report (Exhibit A) is an overview of ITD's FY 2022-23 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, 2022. Estimated year end operational expenditures total $24.1 million against a budget of $24.5 million, which is a variance of $.3 million. This estimated decrease is a direct reflection of salary savings due to unanticipated vacancies and an offsetting $600,000 increase in fixed asset expense. The latter is due to shipping delays of product ordered in FY 2021-22 that did not arrive until FY 2022-23. Income derived from services provided to County Departments is estimated to come in on budget of $8.1 million[SL1], as is Cost Plan Allocation credit of $25.2 million. Revenue is also estimated to come in at budget of $.5 million. Total estimate of surplus is $371,535.
Budgeted ARPA funds of $1.9 million for broadband projects and [SL2]budgeted ITD Capital Improvement Project (CIP) funds of $1.1 million are included in the above and are expected to be fully utilized this fiscal year. ITD will continue to monitor the ARPA spending and will keep CAO apprised of any changes.
OTHER AGENCY INVOLVEMENT:
No other agency involvement.
FINANCING:
ITD estimates ending Fiscal Year 2022-23 with a surplus of $371,535.
Prepared by: Kathy Wells, Finance Manager II, 796-1490
Approved by:
__________________________ Date: ______________
Er...
Click here for full text