Finance Committee: June reports show corrected $7 million RDC appropriation error
Summary
Staff reviewed June financial reports and said an earlier $7 million negative balance in RDC appropriation lines has been corrected and the fix appears in July reports; committee had no outstanding questions.
The Fiscal Officer reviewed the June appropriation, revenue and fund reports and said that some RDC appropriation lines had been budgeted under a different appropriation and caused a temporary negative balance. She described the issue as an "enormous negative, like, 7,000,000, negative balance," and said the accounts have since been corrected and the change is reflected in July reports.
Committee members had no further questions on the June materials. Staff said July reports will reflect the corrected balances and that they will continue to monitor appropriations and transfers to ensure appropriation lines are accurate moving forward.
AI generated
The text on this page is AI generated. Summaries, highlights, analysis, and video transcripts are all produced from the original source material.
AI can make mistakes, so if you spot one, and we will fix it for everyone.
Note: the source content is unaltered by us. Any content source we link to, be it a video, an audio recording, or a document, is presented exactly as its publisher released it. That publisher is usually a government body, sometimes an individual official or another organisation.
