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The table below provides a summary of both financial resources and expenditures. Financial Resources vs. Recommended Expenditures $30,000,000 $25,000,000 $20,000,000 $22,580.618 $22,414,813 $25,625.890 $15,000,000 $18,237,177 $10,000,000 $5,000,000 $8,738,488 $9,450,000 $8,023,253 $0 $6,218,114 FY 2009 -10 FY 2010 -11 FY 2011 -12 FY 2012 -13 Available Financial Resources Recommended Expenditures 111. SUMMARY OF THE MAJOR REVENUE SOURCES Beginning Balances Beginning balances are developed based on revenue estimated to be available effective July 1, 2009. The beginning balance for all project categories for this CIP is $18,835,445. The beginning balances are derived from available revenue from preceding years, from available development fee revenue collected calendar year 2008 and from the close out of CIP projects funded previously that are no longer a priority. Beginning balances for each CIP section are included in the detailed financial tables located in the Appendix. In addition to general beginning balances resulting from development fees, unallocated funding or new funding occurring since the Mid -Term CIP, 2009 -10 beginning balances include funding from projects funded previously that included residual balances resulting from project expenses being less than budgeted, the close out of previously funded projects that are no longer a City priority, or projects that are not in a position to begin construction or incur additional costs. A listing of previously funded projects that were closed -out is included in the Appendix. The result of this effort was a total of $2.9 million that was placed in the various beginning balances. State and Local Gas Tax and Highway Related Revenue Gas taxes and Highway revenue is used for street repairs and improvements and placed in the Streets section of the CIP. In addition to the Gas tax collected annually from the state gas taxes, this CIP includes funding from State Propositions 42 and 1 B. Gas tax revenues are allocated annually to cities on a statewide allocation formula which is based primarily on a city's population. These funds, which can be used for new construction or repair and maintenance of existing street systems or street lighting, are determined by the amount of gas sold in the state. A summary of Street related revenue is detailed below. 11