RES 94132A - Laserfiche WebLink

General Fund Transfers There are three types of General Fund Transfers as discussed in more detail below. Operating Transfers-in and Transfers-out are interfund revenues and expenditures for services the City provides to other Funds (ex: overhead provided to the Water Fund) and goods/services other Funds provide to the General Fund (ex: water provided to the Parks Department). Net operating transfers out were $106,000 more than budgeted (before carryovers), due primarily to water costs being $99,000 more than expected. CIP Contributions are ongoing expenditures from the General Fund for such items as the General Fund's share of lease payments for major facilities, including the Operations Service Center (OSC), City Hall, and the Police Facility. Because these payments are also partially paid by development fees, the full expenditures are reflected in the Miscellaneous CIP, with a fund transfer made from the General Fund for its share of the payment. The General Fund will pay $.5 to $1.5 million per year for the next twenty years on these existing facilities. In 1993-94, the City transferred $1.1 million to the Miscellaneous CIP for its share of capital projects and lease payments. In addition, $200,000 was transferred to the Street CIP to suppon street projects. All of the above CIP transfers were made in accordance with the 1993-94 budget. Capital Reserve Transfers are made from the General Fund Capital Projects Reserve to the CIP. Sources of money to date have been one-time revenues and one-time savings. The funds have been used for cash payments for the construction of major capital projects and facilities. Because of the City's current level of debt, it is not possible to debt fInance all new facilities using General Fund revenues alone for repayment. Historically, the City bas paid cash for some projects, such as the two middle school gyms. It has fully financed other projects, such as the OSC and the Police Facility. Sometimes the City has used a combination of debt and cash to fund a project, such as the Senior Center. In 1993-94, $938,000 was transferred from the General Fund Capital Projects Reserve to the CIP, in accordance with the budget, to purchase the new public safety radio system, and for the future acquisition of a site for Fire Station #4. Staff is currently reviewing development fees in accordance with AB 1600. As part of this study, staff has identified future parks and facilities, required through buildout of the City, by using the CIP and the Master Facilities Plan documents. It is estimated that approximately $30 million will be needed over the next twenty years for parks and SR 94:365 9