DATE: May 14, 2019
SUBJECT:
Title
RESOLUTION APPROVING A $2,500,000 TRANSFER OF FUNDS, PURSUANT TO BPC POLICY NO. 90, FROM THE FY 2019 BUDGETED PERSONNEL EXPENSE APPROPRIATION TO THE NON-PERSONNEL EXPENSE APPROPRIATION TO FUND ADDITIONAL EXPENSES ASSOCIATED WITH INFORMATION TECHNOLOGY, LEGAL MATTERS, AND RECRUITMENT
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EXECUTIVE SUMMARY:
Continuing information technology expenses, various legal matters, and unbudgeted senior recruitment expenses may require an increase to the non-personnel expense appropriation. To ensure that the District does not exceed the non-personnel expense appropriation by year-end, staff is requesting a transfer of $2,500,000 from the favorable variance in the personnel appropriation to the non-personnel appropriation.
RECOMMENDATION:
Recommendation
Adopt a resolution approving a $2,500,000 transfer of funds, pursuant to BPC No. 90, from the FY 2019 budgeted personnel expense appropriation to the non-personnel expense appropriation to fund additional expenses associated with information technology expenses, legal matters, and recruitment.
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FISCAL IMPACT:[h1]
Approval of this agenda item will authorize a funds transfer of $2,500,000, pursuant to BPC Policy No. 90, from the FY 2019 budgeted personnel expense appropriation to the non-personnel expense appropriation. In an abundance of caution to stay within the non-personnel expense appropriation, the District anticipates additional funds may be needed in the last quarter of FY 2019 for various expenses associated with information technology, legal matters, and recruitment.
COMPASS STRATEGIC GOALS:[h2]
This agenda item supports the following Strategic Goal(s).
* A thriving and modern maritime seaport.
* A Port with a healthy and sustainable bay and its environment.
* A Port with a comprehensive vision for Port land and water uses integrated to regional plans.
* A Port with an innovative and motivated workforce.
* A financially sustainable Port that drives job creat...
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