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Table 8. Storm Drain Fund —Amended Bud et vs. Actual
<br /> Amended %Actual vs
<br /> Storm Drain Budget Actual Variance Budget
<br /> Beginning Fund Balance 596,605 596,605 -
<br /> Plus Revenues 673,596 667,547 (6,049) -0.9%
<br /> Less Net Transfers 330,000 330,000 - 0.0%
<br /> Less Expenditures (926,036) (790,829) 135,207 -14.6%
<br /> Ending Fund Balance 674,165 803,323 129,158
<br /> Change in Fund Balance 77,560 206,718 129,158
<br /> INTERNAL SERVICE FUNDS
<br /> Internal Service Funds account for the financing of goods or services provided by a
<br /> department to other departments on a cost-reimbursement basis. Three examples of
<br /> this are the Employee Benefit Fund, the Repair and Replacement Fund and the Self
<br /> Insurance Fund. These funds not only account for current year expenditures but also
<br /> long term liabilities of the City. These liabilities may not result in actual expenditures in
<br /> the short term, but will result in future expenditures for the future replacement of
<br /> equipment or the payment in the future of employee retirement, medical benefits and
<br /> unused vacation. In accordance with the City's adopted financial policies and the City's
<br /> General Plan, the City recognizes costs as they accrue, and sets money aside to fund
<br /> the future expenditures, rather than allowing these costs to accumulate and become a
<br /> future burden.
<br /> Employee Benefit Fund
<br /> The Employee Benefit Fund (EBF) is used to account for employee benefit costs. The
<br /> departments' budgets are charged for benefit expenses as a percent of salary, and the
<br /> dollars then flow to the EBF, where the actual costs are recorded. For 2010-11 FY,
<br /> expenditures were less than anticipated by $86,793 and revenues were less than
<br /> budgeted by $40,165 as shown in Table 9.
<br /> Table 9. Employee Benefit Fund — Amended Budget vs. Actual
<br /> Amended %Actual vs
<br /> Employee Benefit Fund Budget Actual Variance Budget
<br /> Beginning Fund Balance 628,404 628,404 -
<br /> Plus Revenues 19,896,689 19,856,524 (40,165) -0.2%
<br /> Less Expenditures (20,102,689) (20,015,896) 86,793 -0.4%
<br /> Ending Fund Balance 422,404 469,032 46,628
<br /> Change in Fund Balance (206,000) (159,372) 46,628
<br /> Replacement/Renovation Funds
<br /> In accordance with the City's financial policies and the General Plan, the City maintains
<br /> various Replacement/Renovation Funds. The purpose of these Funds is to provide
<br /> ongoing replacement of City equipment, vehicles, traffic signals, streetlights, and to
<br /> make major repairs/ renovations to City facilities, parks, and medians, in order to extend
<br /> their lives.
<br /> As indicated above in the discussion of the General Fund, staff is recommending an
<br /> additional transfer of $1.0 million to the Replacement/Renovation Funds and $120,000
<br /> for the establishment of a Golf Replacement Fund. Table 10 reflects these additional
<br /> Page 8 of 10
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