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ADMINISTRATION - Fiscal Manager Orepa Mamea
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Requested Action(s)
recommendation
a) Presentation and discussion of the Fiscal Year 2025-26 Mid-Year Budget Report
b) Public Comment
c) Request authorization for the Auditor to make Mid-Year Budget adjustments as presented (Transfer B-49)
d) RESOLUTION - Request adoption of a resolution amending the FY 2025-26 Position Allocation List (PAL) as part of FY 2025-26 Mid-Year Budget / PAL changes, effective 3/4/26
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Financial Impact:
In the proposed mid-year budget, multiple departments are requesting adjustments to their appropriations. The total requested increase in the expenditures budget amounts to $7,320,256, accompanied by a revenue increase of $7,498,868. Additionally, departments are utilizing $11,425 from prior years' funds and grant funding to cover a portion of these requests, thereby minimizing the impact to General Fund contributions in the amount of $1,243,073.
Background Information:
If the FY 2025-26 mid-year budget is not approved by the Board, it will remain unchanged, preventing the necessary adjustments to departmental accounts. These adjustments are essential to maintaining a balanced budget within existing appropriations and ensuring that financial obligations are met for the remainder of the fiscal year. Without these revisions, departments may face funding shortfalls, potentially leading to financial constraints and an inability to fulfill critical obligations.
This underscores the importance of obtaining Board approval or alternative direction to uphold fiscal stability and ensure the effective operation of departmental budgets. Furthermore, compliance with Generally Accepted Accounting Principles (GAAP) and California Counties' accounting standards requires accurate financial reporting and budgetary adjustments to reflect actual expenditures and revenues. Failure to make these adjustments could result in financial discrepancies, misstatements, and inefficiencies in resou...
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