Title
Receive and accept the bi-annual financial report for the Information Technology Department (ITD) for FY 2024-25.
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 2024-25.
SUMMARY:
This report is ITD’s bi-annual report of FY 2024-25. It is estimated that ITD will end the year with a surplus of $1,949,027 of budgeted appropriations.
DISCUSSION:
The attached report (Exhibit A) is an overview of ITD’s FY 2024-25 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, 2024. Estimated year end expenditures total $31.4 million against a budget of $32 million, reflects an underrun of $622k. This estimated savings is comprised of a salary and benefit estimated savings of $1.8 million and a Service and Supply estimated overrun of $1.2 million. The Salary and Benefit savings are due to current vacancies not being filled due to the MOU adjustments and a variance in the planned for Supplemental UAL charges. The operational Service and Supply overrun is due to additional service and goods requirements and vendor price increases. The expenditure overrun is mainly recovered through both internal County and external agency customer chargeback. Cost Plan Allocation will come in on budget. Contra income from internal County Department customers reflects a surplus of $1.3 million which is a direct correlation to the MOU increases and vendor expenditure adjustments as both impact the rate structures of goods and services billed. Revenue is estimated to come in at budget of $.5 million. Estimated year-end total reflects a surplus of $1.9 million, with majority of savings due to the unfilled positions.
Capital Improvement expenditures are anticipated to come in at budget with correlating income to offset, resulting in no chang...
Click here for full text