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Committee forwards $344,338 general‑fund budget amendment increasing revenue and expenditures
Summary
Finance staff requested a general-fund budget amendment to increase revenues and expenditures by $344,338 to reflect marijuana tax receipts and higher workers’ compensation costs; committee voted unanimously to forward the amendment to the full board.
Cecilia, finance staff, asked the committee to approve a general-fund budget amendment increasing revenues and expenditures by $344,338.
Cecilia said the increase reflects higher-than-expected marijuana tax and Local Community Stabilization Authority receipts on the revenue side and that expenditures would be increased primarily to cover higher-than-budgeted workers’ compensation claims and maintenance-of-equipment and grounds costs.
Finance staff noted several line items appeared over benchmark percentages in April because of one-time payments (quarterly MSU extension payment and annual liability insurance premiums), and that the amendment aligns budget accounts with recent activity.
The committee voted unanimously to forward the budget amendment to the full board for adoption.
