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Q&A
IBO's identification of additional surplus FY24 resources
5:36:25
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89 sec
Council Member Justin Brannan asks the Independent Budget Office (IBO) to summarize areas where they have identified additional surplus FY24 resources that could be used for reserves or prepayment.
- IBO estimates over $900 million in surplus from personnel costs.
- Lower costs are projected for asylum seekers due to population shifts from Health and Hospitals to the Department of Homeless Services.
- Other than personnel service costs, such as office supplies, are identified as potential areas for savings without impacting direct services.
- IBO suggests that the last quarter of the fiscal year is an opportune time to redeploy such funds without significantly affecting operations.
Justin Brannan
5:36:25
you summarize the areas where IBO has identified additional surplus FY24 resources that could be used for reserves or prepayment?
Sarita Subramanian
5:36:35
Yeah.
5:36:35
So we mentioned, as Louisa mentioned in the testimony, in particular personnel costs.
5:36:41
And so we estimate over $900,000,000 there.
5:36:46
We also are projecting lower cost for asylum seekers.
5:36:51
We project Because a lot of the population is now in DHS as opposed to health and hospitals, we are projecting slower costs or decreased costs to align more closely with DHS shelter costs for those asylum seekers.
5:37:11
Those are two areas that we noted in the report.
5:37:14
I would say another area that we have thought about are other than personnel service costs, and that's an area that is largely if it's not spent by this time in the year, is an area where the city could look to get additional savings without direct service interference.
Louisa Chafee
5:37:37
So there's often a fair amount of cushion built into basic things like paper and supplies and chairs, etcetera.
5:37:46
And this is the quarter where that kind of money could be in effect redeployed without great impact to any level of operations.