Board staff projects $26.7 million revenue, 13.9 months in reserve for current fiscal year

Mark Ito, assistant executive officer, presented the budget and fund‑condition update at the May 16 board meeting. Ito said the board’s current‑year revenue projection is $26,700,000 and projected expenditures are roughly $18,900,000, yielding an end‑of‑year months in reserve calculation of approximately 13.9 months. Ito noted that the board remains structurally imbalanced — collecting more in fees than it spends — and that months in reserve are rising by roughly 2.5 to 3 months per year under current projections.

Ito said two executive orders (a budget reduction and a vacancy reduction) reduced the board’s approved budget by about $455,000 this year and that staff are finding savings to reduce end‑of‑year reversion (he estimated an approximate end reversion of $187,000 as of fiscal month 9). He told the board staff intend to pursue a fee audit within one to two years to ensure fees are sized appropriately to expenditures and services.

Why it matters: Fund conditions influence future fee decisions and potential requests to the legislature; the board’s noted structural imbalance is the main rationale staff gave for a forthcoming fee audit.

Next steps: Staff will work with the budget office and advise the board on any proposed fee adjustments following the planned audit.