11 - Laserfiche WebLink

Description Amount Monies to fund an Allowance for Doubtful Accounts for the write-off of uncollectible accounts receivable per generally accepted accounting principles (GAAP) and Council policy adopted on October 18, 2011 $157,170 Additional funding of annual debt service payment and the repair and replacement fund for the golf course $170,000 Transfer of funds to the Capital Improvement Program Reserve (CIPR) $161,866 for funding the Energy Upgrade Pleasanton Program adopted by Council on October 18, 2011 Total $3,489,036 Table 2 presents the proposed changes to the General Fund Reserves. As shown in Table 2 the overall reserves of $25.3 million are proposed to remain at the same level overall. The recommended change is due to maintaining the Reserve for Economic Uncertainties at 10% of revenues in the General Fund. Table 2. General Fund — Fund Balance Reserve Designations Changes Recommended General Fund-Fund Balance Beginning Fund Approved In Changes to Ending Fund Reserve Designations Balance Budget Reserves Balance 10% Reserve for Economic Uncertainties 8,466,813 144,187 172,285 8,783,285 Undesignated Reserve 2,655,462 896,071 (172,285) 3,379,249 Reserve for Golf Debt Service 2,000,000 - - 2,000,000 Temporary Recession Reserve 12,210,258 (1,040,258) 11,170,000 Total 25,332,533 - - 25,332,533 General Fund Revenues. Actual General Fund revenues were greater than the Amended Budget by $1,722,507 or 2.0% greater than estimated. Table 3 presents the major revenue categories with a comparison of the Amended Budget versus actual revenues and the variance to the Amended Budget both in terms of dollars and percentage. Page 3 of 10