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Replacement Renovation Funds A portion of the changes to revenues for all the <br /> Replacement Renovation Funds is attributable to adjustments to interest income due <br /> to expenditure adjustments for the following funds, involving a general reprioritization of <br /> replacement expenditures and re- evaluating the remaining lives of the various assets to <br /> reduce necessary contributions over the next few years. In addition, an increase of <br /> $225,000 in the Facilities Renovation Fund is needed for expenses related to repair of <br /> the Senior Center roof. <br /> Special Revenue Funds <br /> The only significant adjustments to Special Revenue Funds include changes to the <br /> Livermore Pleasanton Fire Department Fund. <br /> Livermore Pleasanton Fire Department Fund Recommended adjustments include a <br /> reduction in revenues of $706,593 and increase in transfers of $205,138, and <br /> expenditure reductions of $497,970. The reduction in revenues reflects the net of an <br /> increase in grant revenue from FEMA and reduced contributions from partner cities due <br /> to the decrease in expenditures. The increase in transfers is the pro -rata share of <br /> excess contributions in the Employee Benefit Fund. The decrease in expenditures <br /> includes the net from savings from position vacancies, increase in recruitment costs, <br /> postponement of the academy, and lower than expected insurance premiums. <br /> Submitted by: Approve by: <br /> aavid P. Culve Nelson Fialho <br /> Finance Director City Manager <br /> Attachments: <br /> 1. Resolution <br /> 2. Appendix A Recommended Budget Adjustments <br /> 3. Appendix B Major Revenue Trends <br /> Page 9 of 9 <br />