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• debt payments were $109,358 less than budgeted due to the Trustee having <br /> funds on hand (cumulative interest earnings) to pay a portion of the annual <br /> debt service <br /> • less City staff time was spent on water replacement projects than projected <br /> ($99,227) <br /> • water connection fees and interest income received were greater than <br /> expected ($51,000 and $16,136, respectively) <br /> • PG&E solar rebates received were greater than expected ($45,543) <br /> • the receipt of Vineyard Avenue Corridor Fourth Tier Water Fees ($12,647); <br /> fee was implemented during the 2010/11 FY as part of the Water Rate Study. <br /> WATER <br /> Total <br /> Budgeted Ending Fund Balance $ 7,089,451 <br /> Actual Fund Balance after Carryovers 8,039,930 <br /> Variance favorable/(unfavorable) $ 950,479 <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 $247,680. The majority of this variance was due to <br /> receiving $131,342 more in public facilities fees than budgeted. Other increases in <br /> actual revenues received compared to budget included: <br /> • $36,575 in Cemetery fees for burial plots and vaults <br /> • $17,786 in interest income <br /> • $7,340 in PG&E solar rebates. <br /> On the expenditure side, lease/debt payments for the East County Animal Shelter were <br /> $52,980 less than budgeted due to the timing of the receipt of County invoices for these <br /> services and over budgeting. The actual cost should have been $54,038 rather than <br /> $27,019 and budget should have been $54,000 rather than $80,000. <br /> MISCELLANEOUS <br /> Total <br /> Budgeted Ending Fund Balance $ 2,410,098 <br /> Actual Fund Balance after Carryovers 2,657,778 <br /> Variance favorable/(unfavorable) $ 247,680 <br /> Page 3 of 5 <br />