RECOMMENDATION(S):
Approve Appropriation and Revenue Adjustment NO. 5032 increasing appropriations for capital projects, capital equipment, and reallocating budget revenues and expenditures to reflect appropriate categories in fiscal year 2015/2016.
FISCAL IMPACT:
No impact to the General Fund. This action increases appropriations by $13,540,254 (fully revenue offset) for anticipated costs associated with capital projects, capital equipment, and reallocates revenues and expenditures between categories to reflect the most current estimates.
BACKGROUND:
Subsequent to the adoption of the FY 15-16 Budget in June, 2015 capital project costs expected to be incurred this fiscal year were revised, and additional equipment purchases were necessary. This adjustment increases appropriations and the revenue sources used to pay for them to reflect the most current estimates. No change in County subsidy is required as a result of the adjustment.
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