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The Water CIP Funds ended the year with a favorable variance of actuals (plus <br /> carryovers) to adjusted budget of $160,374. The bulk of this variance is made up of <br /> three items. There was $48,176 less City staff time spent on water projects than <br /> projected, water connection fees received were $36,500 more than expected, and <br /> interest income was $73,132 more than expected. <br /> Quarter Four Adiustments: The $23,312 transfer from the balance of project #081033 <br /> "Black Avenue Utilities" to project #081028 "Annual Water Replacement Projects" was <br /> approved by Council in April 2009. There are no additional budget adjustments needed <br /> during the final quarter of FY08 -09. <br /> WATER <br /> Total <br /> Budgeted Ending Fund Balance 6,395,735 <br /> Actual Fund Balance after Carryovers 6,556,109 <br /> Variance favorable /(unfavorable) 160,374 <br /> The Miscellaneous CIP Funds ended the year with a favorable variance of actuals <br /> (plus carryovers) to adjusted budget of $268,535. Four items make up this variance. <br /> Lease and debt payments were $25,331 less than expected, public facilities fees <br /> received were $15,074 more than expected, interest income was $231,023 more than <br /> expected and expenditures for project #078016 "Landscape and Gateway Interchange <br /> Improvements" were $2,893 more than budgeted. <br /> Quarter Four Adjustments: The $1,200,000 transfer from project #018044 "Downtown <br /> Parking Improvements" to project #808089 "PUSD Loan" was approved by Council in <br /> April 2009. There are no additional budget adjustments needed during the final quarter <br /> of FY08 -09. <br /> MISCELLANEOUS <br /> Total <br /> Budgeted Ending Fund Balance 3,225,663 <br /> Actual Fund Balance after Carryovers 3,494,198 <br /> Variance favorable /(unfavorable) 268,535 <br /> Page 3 of 5 <br />