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Caoital Projects Reserve <br />In accordance with the City's Financial Policies, excess funds from the General Fund are set <br />aside in the Capital Project Reserve, and used for capital projects. This has been the funding <br />source for numerous projects over the years. Partial funding for the Harvest Park Middle <br />School gym and the expansion of the Tennis Complex and Aquatics Center came from this <br />source. <br />The Capital Projects Reserve is projected to begin the year with a balance of $1.99 million. <br />Staff is recommending that the entire balance remain in the reserve until the CIP is prepared <br />again next spring (2001). As mentioned earlier, there are numerous existing high priority CIP <br />projects which are still either unfunded or underfunded, and this reserve may be needed for <br />one or more of those projects. <br />Carryover Reserve <br />The projected beginning balance in the Carryover Reserve balance for 2000 -01 is $600,000. <br />This amount represents development related revenues collected in previous years for <br />Building and Public Works Inspection services. Since the actual services are often rendered <br />in subsequent fiscal years, the revenue was placed in the reserve to help smooth out budget <br />fluctuations. The original 2000 -01 adopted budget contemplated fully utilizing those <br />remaining funds, and staff is not making any changes to that recommendation at this time. <br />Therefore, the reserve is expected to be fully expended by June 30, 2001. <br />HI, OTHER OPERATING FUNDS <br />A. Storm Drain Fund <br />Net income to the Storm Drain Operating Fund in 2000 -01 is projected to be $18,600 more <br />than originally adopted, primarily because transfers out are being decreased by $19,200 as a <br />result of Field Services administration taking over the Support Services Division, and <br />therefore spreading administrative costs over more functions. <br />B. Water Operative Fund <br />Net income to the Water Operating Fund in 2000 -01 is projected to be $209,000 less than <br />originally adopted. Rate revenue is assumed to be $337,000 less than original projections, <br />while Zone 7 costs are assumed to be $500,000 higher. Expenditure changes include an <br />increase of $38,500 for meters and field supplies and other small adjustments. <br />14 <br />