DATE: June 12, 2018
SUBJECT:
Title
RESOLUTION APPROVING A FY 2018 BUDGET TRANSFER OF $800,000 FROM SAVINGS IN NON-PERSONNEL EXPENSE APPROPRIATION TO THE PERSONNEL EXPENSE APPROPRIATION PURSUANT TO BOARD OF PORT COMMISSIONERS POLICY NO. 90
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EXECUTIVE SUMMARY:
Pursuant to Board of Port Commissioners (BPC) Policy No. 90, a transfer of an amount between appropriated items requires Board approval. Staff is recommending the FY 2018 Personnel Expense Appropriation be increased by $800,000 to fund unanticipated increases in workers' compensation expenses incurred during the fiscal year.
The increase of $800,000 to Personnel Expense Appropriation will be funded by transferring $800,000 from Non-Personnel Expense Appropriation.
RECOMMENDATION:
Recommendation
Adopt resolution approving a budget transfer increasing the FY 2018 Personnel Expense Appropriation by $800,000 by transferring $800,000 from the FY 2018 Non-Personnel Expense Appropriation, pursuant to BPC Policy No. 90.
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FISCAL IMPACT:[h1]
Approval of this resolution transferring funds to the Personnel Expense Appropriation in the amount of $800,000 will increase the Personnel Expense budget from $97,805,700 to $98,605,700.
This budget amendment will adjust the FY 2018 budget as follows:
COMPASS STRATEGIC GOALS:[h2]
This agenda item supports the following Strategic Goal(s).
* A Port that the public understands and trusts.
* A Port that is a safe place to visit, work, and play.
* A Port with an innovative and motivated workforce.
DISCUSSION:
Staff is recommending the FY 2018 Personnel Expense Appropriation be increased by $800,000 to fund unanticipated increases in workers' compensation expenses incurred during the fiscal year. This transfer is a precautionary measure to ensure the District does not exceed the Personnel Expense Appropriation at year-end. Staff's estimate for year-end varies from month to month depending on the impact of changes to the workers' compensation reserv...
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