Title
Receive and accept the bi-annual financial report for the Information Technology Department (ITD) for FY 2016-17.
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 2016-17.
SUMMARY:
This report is ITD's bi-annual report of FY 2016-17.
DISCUSSION:
ITD's FY 2016-17 year end estimated General Fund Contribution (GFC) is a surplus of $678,585. Budgeted GFC was a surplus of $2,541,679. This reflects an overall reduction of $1,863,094. Exhibit A is an overview of ITD's FY 2016-17 approved budget, estimated year end totals as currently reflected in the budget system, and the variance between.
Total estimate of Operational Expenditures is $22,022,825 against a modified budget of $23,749,009; reflecting an overall expenditure savings of $1,726,184. Operational Expenditures are comprised of Salaries and Benefits, Services and Supplies, and ITD Capital Improvement Project (CIP) costs. Current Salary and Benefit estimate of $11,950,227 against a budget of $14,138,849 reflect a savings of $2,188,622. This is a result of multiple vacant positions due to retirements and departures. As a result of contract closures, Service and Supply costs are estimated as $6,067,951 against a budget of $6,599,539, reflecting a savings of $531,588. CIP costs are estimated at $4,004,647 against a budget of $3,010,621. The anticipated $994,026 overage is related to prior fiscal year rollover CIP projects and current fiscal year changes necessary to meet customer requirements. Exhibit B reflects the planned CIP expenditure.
Beginning in FY 2016-17, Auditors adjusted the Cost Plan process to now reflect these allocations during the fiscal year. The figures provided to ITD were budgeted to reflect a credit of $2,497,473, which was to pass through to General Fund Contribution. Adjusted Auditor figures now reflect a charge of $168,380 representing a change of $...
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