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As indicated above, all of the City Council priority projects either have an existing reserve or are fully funded in this CIP. As the economy improves, staff anticipates additional funding to those priority projects that are partially funded. As discussed in previous CIP's, staff anticipates that the City is at a development phase where many of its projects are either replacement related or renovation which are the result of aging facilities and/or the impact of new development requiring facility upgrading and expansion. Notwithstanding this, staff is aware of the Council's interest in funding new priority projects, such as the Bernal Park Phase II Sports Fields and that the community may have priorities related to the potential expansion of the Pleasanton Library. As a result, staff anticipates reviewing the Public Facilities Fee prior to the next CIP to determine if anticipated future impacts from development are adequately addressing needs for expansion and renovation. In addition, as the economy improves, staff anticipates that additional contributions from the General Fund for facilities and roadway projects may become available. Staff will continue to monitor the economy and available CIP revenues to make determinations when it is best to pursue projects. When the projects are ready for construction, staff will present funding options to the City Council. Based on project funding/status described above, staff is confident that this CIP addresses current infrastructure maintenance needs as well as new projects that will be an amenity to the community. II. PROGRAM FINANCIAL. OVERVIEW A summary of available annual financial resources (including beginning balances) and recommended annual expenditures is listed in the tables below. Summary financial tables showing all recommended projects and available funding are included at the end of this section. All project expenditures and revenues segregated by source are included in the detailed financial tables located in the Appendix. Development fee revenue including the Public Facilities, 'Traffic Impact, In Lieu Park Dedication and Water and Sewer Connection Fees, are recorded on a calendar year basis. Using this approach assures that revenue is collected prior to programming for a specific project. In addition, because the Planning Department has historically tracked development activity on a calendar year basis, this practice eliminates the need to convert this data to a fiscal year resulting in greater accuracy. However, this process is contrary to other portions of this CIP, including all expenditures, and the City Budget that are tracked on a fiscal year basis. Other revenues, such as gas taxes, grants, and General Fund, are projected based on staff estimates in the year they are expected to be received. As indicated previously, staff utilizes the Mid-Term CIP to make any adjustments necessary to address fluctuations in estimated revenues or project expenditures that assures the CIP accurately reflects project development. The three tables listed below provide a general summary of revenues and expenditures by project category and major funding sources. 6