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:
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 an approximate $579,679 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 June 30, 2024. Estimated year end expenditures total $35.2 million against a budget of $34.5 million, which is a variance of $640k. This estimate is based on salary savings of $959k, operational service and supply costs overrun of $1.6m, and an underrun of capital improvement project spend of $79k. Salary savings are due to unanticipated vacancies. Service and supply overrun is mainly due to rollover of $1m for the Board of Supervisors' Chambers upgrade (originally planned for completion in FY 22-23). Additional increase relates to vendor cost increases and customer requested purchases that are then rebilled to the customer and are reflected under both County reimbursement and external revenue figures. Capital Improvement underrun is due to some project expenditures being moved forward into FY 24-25. Cost Plan reflects only a slight variance. Internal County reimbursement reflects an increase based on ERP Project reimbursement and additional customer spend over budget. Revenue is estimated to come in close to budget. Overall ITD is estimated to come in with an underrun of an approximate $579,679.
OTHER AGENCY INVOLVEMENT:
No other agency involvement.
FINANCING:
ITD estimates ending fiscal year 2023-24 with an overall underrun of $579,679...
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