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Water CIP
<br /> Recommended midyear adjustments to the Water CIP funds are shown in Table 2 and
<br /> include increases in beginning fund balance of $82,933, projected revenues of
<br /> $121,200, transfers of$1,593,825 and expenditures of$53,779.
<br /> • The beginning fund balance was increased ($82,933) to reflect Developer Funds
<br /> collected to date by the City for Water CIP projects.
<br /> • Revenue changes ($121,200) are due to increases in projected Water
<br /> Connection Fees ($108,200) and PG&E California Solar Initiative Rebates
<br /> ($85,000), partially offset by a decrease in projected interest income ($72,000).
<br /> • Transfers are increasing ($1,593,825) by the Vineyard Avenue Corridor Fourth
<br /> Tier Water Fees ($100,000) for the reimbursement of a portion of the Vineyard
<br /> Avenue Water Tank Loan and $1,493,825 for the repayment of a portion of the
<br /> Vineyard Avenue Water Tank Loan from Vineyard Avenue Specific Plan Fees.
<br /> The remaining Vineyard Avenue Water Tank Loan totals $6,319,482.
<br /> • Expenditure changes ($53,779) are mainly due to the purchase of cast iron fire
<br /> hydrant caps ($40,274) and future designated Water CIP projects due to the
<br /> availability of Developer Funds ($83,333). These increases are partially offset by
<br /> budget reductions in completed projects for the SCADA Computer Hardware and
<br /> Software Upgrade Project ($18,192) and the Utility Cut Patching Project
<br /> ($51,636).
<br /> Table 2
<br /> Water CIP Funds
<br /> 2011/12FY Recommended 2011/12FY
<br /> Adjusted Midyear Midyear
<br /> Budget Adjustments Budget
<br /> Beginning Fund Balance $ 10,151,161 $ 82,933 $ 10,234,094
<br /> Revenues 166,800 121,200 288,000
<br /> Transfers In 1,600,000 1,593,825 3,193,825
<br /> Transfers Out 378,564 - 378,564
<br /> Expenditures/Reserves 3,247,925 53,779 3,301,704
<br /> Ending Fund Balance $ 8,291,472 $ 1,744,179 $ 10,035,651
<br /> Miscellaneous CIP
<br /> Recommended midyear adjustments to the Miscellaneous CIP funds are shown in
<br /> Table 3 and include an increase in beginning fund balance of $45,009, a decrease in
<br /> projected revenues of $74,910, an increase in transfers of $493,867, and a decrease in
<br /> expenditures/reserves of $396,130.
<br /> • The beginning fund balance was increased ($45,009) to reflect Developer Funds
<br /> collected to date by the City for Miscellaneous CIP projects.
<br /> • Revenue changes ($74,910) include a decrease in projected interest income
<br /> ($109,000), partially offset by increases in PG&E California Solar Initiative
<br /> Rebates ($12,500), donations for the Firehouse Arts Center ($16,000) and
<br /> Happy Valley Specific Plan Infrastructure Reimbursements ($5,590).
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