#budget and finance maui

Budget and Finance Committee Chair Riki Hokama released his version of the proposed Fiscal Year 2016 budget yesterday, cutting $96 million in borrowing and $22 million in operating costs from the Mayor’s proposed $699.9 million budget.

The budget reflects a 3.1% reduction for all real property tax rates. There’s also a $10 million appropriation for countywide mainline and water infrastructure improvements.

The $604 million budget was passed on first reading with amendments including correction of fund balances on special purpose revenues. The deadline for the council to pass the budget is on Tuesday, June 10, 2014.

The Maui Budget and Finance Committee today completed its review of the fiscal year 2015 budget and recommended passage of a $604 million budget, that includes a 3.1% reduction in real property tax rates across the board.

The county budget will be the focus of the latest edition of Maui Mayor Alan Arakawa’s television show entitled “Your County with Mayor Arakawa.”

Budget and Finance Committee Chair Mike White today announced a proposed average 9% reduction to real property tax rates for the fiscal year 2015 budget. White’s proposal also calls for the elimination of expansion positions.

The Budget and Finance Committee continues deliberations today on the fiscal year 2015 budget, with a meeting set to reconvene at 10 a.m. in the Council Chamber.

“It’s critical the committee understand how these rising valuations will impact the county’s revenue stream before we consider increasing tax rates across the board.”

Maui’s Budget and Finance Committee today will consider a bill to appropriate $6.5 million for the acquisition and preservation of more than 186 acres at Launiupoko in West Maui.

The public is encouraged to provide testimony or feedback on what they think is important for inclusion in the budget. The first District meeting will be held at 6 p.m. on Thursday, March 29, 2012 at the Paia Community Center.