|
BACKGROUND
<br /> City Council adopted the 2010/11FY Midterm Update to the Capital Improvement
<br /> Program (CIP) on June 1, 2010. Since that time there have been a number of budget
<br /> adjustments either for approved carryovers or through various agenda actions accepting
<br /> grants and other changes. This report recommends additional adjustments to revenue
<br /> estimates, transfers and expenditure appropriations in the CIP for the 2010/11FY.
<br /> Sewer CIP
<br /> Recommended Midyear adjustments to the Sewer CIP funds include an increase in
<br /> projected revenues ($69,500) and a decrease in projected expenditures ($659,241).
<br /> Revenue changes are due primarily to an increase in projected Sewer Connection Fees
<br /> of $60,000. The decrease in expenditures was due to the close out of the following two
<br /> projects:
<br /> • #092002 Annual Sanitary Sewer Main Replacement & Improvements - $309,241
<br /> • #102002 Annual Sanitary Sewer Main Replacement & Improvements - $350,000
<br /> _ Sewer CIP Funds
<br /> 2010/11FY Recommended 2010/11FY
<br /> Adjusted Midyear Midyear
<br /> Budget Adjustments Bud•et
<br /> Beginning Fund Balance $ 7,351,673 $ 7,351,673
<br /> Plus Revenues 31,500 $ 69,500 101,000
<br /> Transfers In 1,319,765 1,319,765
<br /> Transfers Out 179,638 179,638
<br /> Less Expenditures 6,060,869 (659,241) 5,401,628
<br /> Ending Fund Balance $ 2,462,431 $ 728,741 $ 3,191,172
<br /> Water CIP
<br /> Recommended Midyear adjustments to the Water CIP funds include increases in
<br /> projected revenues ($63,200), transfers ($473,000) and expenditures ($9,338).
<br /> Revenue changes include increases in projected Water Connection Fees ($85,200) and
<br /> PG&E California Solar Initiative Rebates ($70,000). Revenue increases were offset
<br /> with a decrease in projected interest income ($92,000). Transfers in are directly related
<br /> to the repayment of a portion of the water loan to the Golf Course project originally
<br /> funded in 2003 when Callippe Golf Course was constructed. The increase in
<br /> expenditures of $9,338 accounts for the Water Fund's increased share of Utility Cut
<br /> Patching expenditures accounted for in the General Fund.
<br /> _ Water CIP Funds
<br /> 2010/11FY Recommended 2010/11FY
<br /> Adjusted Midyear Midyear
<br /> Budget Adjustments Budget
<br /> Beginning Fund Balance $ 8,589,643 $ 8,589,643
<br /> Plus Revenues 140,000 $ 63,200 203,200
<br /> Transfers In 1,719,429 473,000 2,192,429
<br /> Transfers Out 179,144 179,144
<br /> Less Expenditures 3,034,339 9,338 3,043,677
<br /> Ending Fund Balance $ 7,235,589 $ 526,862 $ 7,762,451
<br /> Page 2 of 4
<br />
|