Subject:
Title
Resolution supplementing the Fiscal Year 2017 Building Services Fund Budget for unanticipated revenue.
label
Recommended Action:
Recommended Action
Adoption of a resolution recognizing and appropriating unanticipated revenue in the Fiscal Year 2017 (FY17) Building Services Fund Budget.
Body
Strategic Plan:
Deliver First Class Services to the Public and Our Customers
5.2 Be responsible stewards of the public’s resources
Summary:
Revenue earned from building permit activity exceeds the budgeted amount as a result of increased building activity in the unincorporated areas throughout FY17. This resolution recognizes the increased revenue and appropriates the funds for additional inspection expense associated with the increased permit activity.
Background Information:
The County receives building permit revenues based on the quantity and type of permits requested throughout the year. Improved economic conditions continue to drive increased permit volume (+5.0% growth October through July). Associated permit revenue is projected to exceed budget by more than $500,000.00 by the end of FY17. Increased permit volume required more inspections to be performed by contracted building inspectors, with related expenses exceeding budget appropriation. Based on the expectation of sustained increases in building permit activity, four (4) building inspector positions were also added during FY17 in order to continue meeting the County’s next day inspection standard.
Fiscal Impact:
Approval of this resolution recognizes unanticipated revenue in the amount of $429,400.00 in the Building Services Fund and increases the FY17 budget for Building Services by $429,400.00. The amendment is consistent with the FY17 estimate for revenue and expenses submitted during the FY18 budget development process.
Staff Member Responsible:
Veronica Ettel, Budget Manager, Office of Management & Budget
Partners:
N/A
Attachments:
Resolution