Q&A
Discussion of SBS budget for FY 2024 and FY 2025
0:21:16
·
90 sec
Council Member Feliz and Commissioner Kim discuss the SBS budget for fiscal years 2024 and 2025. Commissioner Kim provides a detailed breakdown of the budget, explaining the total amount and various allocations.
- The total FY 2024 SBS budget is $173,900,000
- 40% ($70,300,000) are pass-throughs not managed by SBS
- The budget shows a $109,000,000 drop, primarily due to pass-throughs and council discretionary funds
- Remaining differences are attributed to one-time investments made during the pandemic recovery
Oswald Feliz
0:21:16
So what is the total FY 2024 budget, SBS budget, and how does the new proposed budget, the FY 2025 budget compared to the 2024.
Kevin Kim
0:21:30
So as I mentioned in our in my testimony, the budget stands at 173,900,000.
0:21:38
40% are pass throughs, but we don't manage or spend, that's $70,300,000.
0:21:45
And then 60% remains for SBS, which also includes the office of talent, that's in our budget.
0:21:52
And of that 34,300,000 is personal services.
0:21:58
They're the 109,000,000 drop that you might see in the overall budget comes from primarily the pass throughs.
0:22:07
So there's 45,000,000 of that.
0:22:10
And also the console discretionary that gets added in usually at the adopted budget, approximately $30,000,000.
0:22:17
So out of the 109,000,000 drop you may see on the paper, about 75,000,000 of it is either through pastures, or the council discretionary.
0:22:25
And then the remaining are either investments, one time investments that we made coming out of the worst pandemic ever.
0:22:34
That we needed to make the investments into businesses, into commercial quarters.
0:22:39
And so that accounts for the remaining difference that you'll see on paper from this year and next year.