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DBI budget down amid pandemic; staff flag reserves and sustainability concerns
Summary
Deputy Director Tyrus Madison told the commission the adopted FY21 budget is roughly $89.5 million, with new revenue budgeted at about $47.4 million — down roughly $20 million from the prior year due to the pandemic. First-quarter collections show electrical and plumbing permits outperforming forecasts, but staff warned prolonged low permit valuation would require budget reductions despite reserve balances.
Deputy Director Tyrus Madison presented the Department of Building Inspection’s finance reports on Oct. 21, laying out an adopted FY21 budget of about $89.5 million and conservative revenue assumptions driven by the pandemic.
Madison said the budgeted new revenues total about $47.4 million this fiscal year, a decline of roughly $20 million from the previous year’s collections. "These revenue estimates were actually submitted in June...…
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