Title
Receive the Quarterly Update on the Parks Department finances for Fiscal Year 2015-16
Report
RECOMMENDATION:
It is recommended that the Budget Committee:
1. Receive the Quarterly Update on the financial status of the Parks Department.
SUMMARY/DISCUSSION:
At the February 24, 2016 Budget Committee meeting, the Parks Department estimated additional funds needed in Fund 001 is $99,906.
At the same meeting, Parks Department estimated the funding needed for this fiscal year in the Enterprise Fund 452 (Resorts) is $1,274,862.
Since that meeting, Parks Department has continued to work with the Budget Office on getting a more exact number for the year-end report. We now project that there will be a surplus in the General Fund 001 of $29,659. The projected shortfall in the Lakes Resort Fund 452 is $1,242,829.
The Budget Committee of the Board of Supervisors received a report on December 16, 2015 where the Parks Department asked for guidance and assistance on where potential funding could be located to balance the shortfall.
OTHER AGENCY INVOLVEMENT:
This report has been reviewed by County Counsel and the County Administrative Office.
FINANCING:
This report is providing an update on revenue and expense projections through June 30, 2016.
Prepared by: ______________________________________
Mark Mariscal, Director of Parks Department