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SEWER <br /> Total <br /> Budgeted Ending Fund Balance $ 2,000,270 <br /> Actual Fund Balance after Carryovers 2,313,623 <br /> Variance favorable /(unfavorable) $ 313,353 <br /> Water CIP Funds <br /> The Water CIP Funds ended the year with a favorable variance of actuals (plus <br /> carryovers) to adjusted budget of $265,038. Over 50% of this variance is due to the <br /> City budgeting $178,719 in the Water CIP Funds to cover debt service payments on the <br /> 2004 Water Revenue Refunding Bonds during the year, however the funds were not <br /> needed because the Trustee for these bonds had excess funds on hand that were used <br /> instead to pay the debt service payment. Also included in this positive variance are <br /> additional water connection fees received of $36,000 more than budgeted and interest <br /> income of $9,244 less than budgeted. As in the Sewer CIP Funds, the Water CIP <br /> Funds had an increase in budgeted revenues in the amount of $49,432 to account for <br /> its proportionate share of the PG &E solar rebates. The Water Replacement CIP Fund <br /> funded approximately 81.7% of the $1.68 million photovoltaic solar energy system <br /> installation project at the OSC and Well #8. <br /> WATER <br /> Total <br /> Budgeted Ending Fund Balance $ 6,604,846 <br /> Actual Fund Balance after Carryovers 6,869,884 <br /> Variance favorable /(unfavorable) $ 265,038 <br /> Miscellaneous CIP Funds <br /> The Miscellaneous CIP Funds ended the year with a favorable variance of actuals (plus <br /> carryovers) to adjusted budget of $806,868. The majority of this variance was due to a <br /> transfer in from the General Fund of $781,709 to cover the 2009/10FY debt service <br /> payments on the 2003 and 2004 Certificates of Participation. Other contributing factors <br /> to this variance included a decrease in actual revenues received compared to budgeted; <br /> interest income received was $28,563 less than budgeted, while public facilities fees <br /> received were $52,738 more than expected. This fund also had an increase in <br /> budgeted revenues to account for its share of the PG &E solar rebates in the amount of <br /> $7,419. The CIPR funded approximately 12.1% of the solar project at the OSC and <br /> Well #8. <br /> Page 3 of 5 <br />