Memorandum

TO: Pete Sprague, Assembly President

Members, Kenai Peninsula Borough Assembly

THRU: Dale Bagley, Mayor

FROM: Scott Holt, Finance Director

Shane Horan, Assessing Director

Colette Thompson, Borough Attorney

DATE: May 20, 2004

SUBJECT: Ordinance 2003-19-52 appropriating supplemental funding for FY2004 for the assessing and legal departments to prepare for board of equalization hearings

The borough has scheduled board of equalization (BOE) hearings for June 2004 and July 7-8, 2004. It is estimated that the borough will incur $87,500 in costs in excess of the current available budget.

The attached ordinance would appropriate $65,000 for the assessing department and $22,000 for the legal department to cover the estimated increase. Without this appropriation, the borough would not be able to hire the professional firms needed to represent the borough's interest at these hearings. KPB 5.08.030 restricts the borough to only "make expenditures within the limits of the budget."

Shortened hearing is requested because the funds will be required to cover these expenses prior to the end of fiscal year 2004.