Title
Adopt a Resolution to authorize and direct the Auditor-Controller to amend the Fiscal Year (FY) 2024-25 Adopted Budget to increase appropriations by $533,713 in General Fund 001, Utilities Appropriation Unit PFP055, financed by an increase in Utility reimbursement revenue of $92,638, and a decrease in appropriations of $441,075 in General Fund 001, Contingencies Appropriation Unit CAO020 (4/5ths vote required).
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors adopt a Resolution to authorize and direct the Auditor-Controller to amend the Fiscal Year (FY) 2024-25 Adopted Budget to increase appropriations by $533,713 in General Fund 001, Utilities Appropriation Unit PFP055, financed by an increase in Utility reimbursement revenue of $92,638, and a decrease in appropriations of $441,075 in General Fund 001, Contingencies Appropriation Unit CAO020 (4/5ths vote required).
SUMMARY/DISCUSSION:
The Department of Public Works, Facilities and Parks (PWFP) prepares monthly budget forecast by Fund/Appropriation Unit to project revenues and expenditures and assist management in making informed financial decisions. PWFP’s most recent forecast of its Utilities unit anticipates that it will likely exceed appropriations by end of fiscal year. PWFP is requesting additional appropriations in the amount of $533,713.
During the development of the FY 2024-25 budget, PWFP forecasted Utility costs would exceed available financing sources by $173,817. PWFP did not receive the augmentation, so staff closely monitored the fund and found the rates spiking in the first half of the fiscal year. A significant shortfall of $739,970 was reported during the Current Year Estimate Process in December 2024. However, rates were slated to decline in January and the current estimated shortfall dropped to $533,713.
A portion of the increased cost is shared with the State of California Courts. The net shortage is $441,075 and considers an increase in reimb...
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