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OCII six‑month budget shows modest savings; draft ROPS 14‑15A seeks $57.1M in property tax trust fund requests
Summary
Deputy Director of Finance reported the agency projects to come in under budget by about $1.5 million at the six‑month point and outlined the draft Recognized Obligation Payment Schedule (ROPS 14‑15A), which in preliminary form requests roughly $55.76 million in non‑admin RPTTF and $1.35 million in administrative cost allowance.
OCII staff told commissioners on Feb. 18 that the agency is projecting to end fiscal year 2013–14 under budget based on six months of activity, and presented an initial draft of the Recognized Obligation Payment Schedule (ROPS) for July–December 2014 (ROPS 14‑15A). Staff described $1.5 million in net expenditure savings to date and outlined the ROPS draft funding mix, which is largely made up of existing balances and debt-service obligations.
Deputy Director for Finance Leo Levinson summarized the agency’s mid‑year finances: “The good news is that this year does indeed, look balanced at this point in the year,” Levinson said, noting roughly $1,500,000 in net expenditure…
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