Agenda

Return

C. 20

To:	Board of Supervisors
From:	Keith Freitas, Airports Director
Date:	January 20, 2015

Contra

Costa

County

Subject:

Appropriation Adjustment for Public Works Airport for Reduction of Commercial Tenant Revenue

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 01/20/2015

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Mary N. Piepho, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:

Beth Lee, (925) 681-4200

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: January 20, 2015
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPROVE Appropriation and Revenue Adjustment No.5039 in the amount of $30,000 for the reduction of commercial tenant revenue due to a lower revenue stream when a commercial property reverted back to the County Airports and subsequent reduction to anticipated expenditures.

FISCAL IMPACT:

There will be no impact to the General Fund.

BACKGROUND:

On October 6, 2014, the lease for HG Limited terminated and the property reverted back to the County Airports. Rental income was estimated for the property in the budget and due to the downturn in the economy; this anticipated amount will no longer be realized. As a result of this loss of revenue, expenditures will also be reduced.

CONSEQUENCE OF NEGATIVE ACTION:

Appropriation adjustments will not occur and the Airport Enterprise Fund budget will reflect overstatement of revenues and expenses and budget estimates will not be accurately reflected.

CHILDREN'S IMPACT STATEMENT:

Not Applicable