LATC budget office reports healthy fund condition; minutes approved by roll call

Department of Consumer Affairs budget staff reported that the Landscape Architects Technical Committee’s fund condition is healthier than previously described and that recent fee changes were incorporated into revenue projections.

Luke Fitzgerald, a budget analyst with DCA, reviewed the committee’s fund condition statement and projections. He said the committee began a recent period with a budget base of about $1,310,000 and projected expenditures just under $1,000,000, leaving a projected reversion of about $311,000 (roughly 23.8%). The budget office projected current‑year revenues that reflect the Jan. 1, 2024 fee increase and estimated a 23–24 year-end fund balance of approximately $742,000, or about six and a half months of reserves. Fitzgerald noted a standard 3% assumed ongoing expenditure growth to account for salary and retirement adjustments, and cautioned that unanticipated legislation or events could create future cost pressures.

Committee members asked detailed questions about encumbrances, rent and facilities costs, and whether the fee increase had been fully reflected in current-year numbers. Fitzgerald explained that encumbrances reflect fully encumbered contracts (for example, business modernization), that rent and facility charges have increased in some line items via Department of General Services adjustments, and that the Jan. 1 fee increase (from $400 to $700 for renewals, as discussed) was included in the out-year projections.

Procedural action: the committee moved, seconded and approved the Nov. 17, 2023 meeting minutes. Roll-call votes were recorded with Pamela Bridal, John Resinski, Andrew Bowden and Susan Landry voting 'aye' and the minutes adopted.

Next steps: the budget office will continue monthly monitoring and provide updates; staff will follow up with additional details about facilities charges and any line-item anomalies members requested.