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carry-overs are reflected in Attachment C and staff is recommending that
<br /> approval of the Mid-Term CIP approve the carry-overs.
<br /> The following three tables provide a general summary of revenues, transfers and
<br /> expenditures by project category and funding source.
<br /> TABLE I
<br /> Projected Total Financial Resources
<br /> 2012/13 FY 2013/14FY 2014/15FY TOTAL
<br /> STREETS $10,333,406 $8,347,910 $8,543,897 $18,913,523
<br /> PARKS 523,322 758,061 3,096,259 4,052,062
<br /> MISCELLANEOUS 5,670,043 5,280,417 6,496,917 9,681,465
<br /> WATER 11,815,651 12,654,738 13,757,334 15,723,960
<br /> SEWER 6,509,741 3,175,178 3,809,828 9,203,828
<br /> TOTAL $34,852,163 $30,216,304 $35,704,235 $57,574,838
<br /> • To accurately reflect that amount of financial resources available each year by category, the above
<br /> annual dollar amounts include all available resources for each year including beginning and recurring
<br /> fund balances. However, the "TOTAL" column has been adjusted to reflect removal of these
<br /> transfers and the recurring fund balances. As a result, the "TOTAL" column does not equal the sum
<br /> of the individual years.
<br /> TABLE II
<br /> Recommended Expenditures and Reserves
<br /> 2012/13 FY 2013/14FY 2014/15FY TOTAL
<br /> STREETS $6,528,653 $3,840,973 $2,922,029 $13,291,655
<br /> PARKS 361,332 594,471 2,931,069 3,886,872
<br /> MISCELLANEOUS 1,781,087 1,403,461 2,581,961 5,766,509
<br /> WATER 1,018,313 948,313 1,068,313 3,034,939
<br /> SEWER 4,674,000 720,000 810,000 6,204,000
<br /> TOTAL $14,363,385 $7,507,218 $10,313,372 $32,183,975
<br /> • The numbers above include expenditures for CIP projects and the CIP reserves included in this CIP.
<br /> CIP REVENUES AND TRANSFERS
<br /> As indicated in Table I, the Total Financial Resources for 2012/13FY is projected to be
<br /> $34,852,163. This amount represents an increase of $10,388,866 (42.4%) from the
<br /> $24,463,297 projected in the current CIP document. Total Financial Resources for all
<br /> three years remaining in the CIP is estimated at $57,574,838 which represents an
<br /> increase of $6,438,823 (12.6%) over the $51,136,015 included in the current CIP for
<br /> these three years. Overall, the increase results primarily from the close out of projects
<br /> funded previously that increased the available beginning fund balances, additional
<br /> development fees, and the inclusion of new funds presented in the CIP document as
<br /> discussed previously. It should be noted that an increase of this amount is typical for
<br /> the Mid-Term CIP due to the fact that the conservative nature of projecting revenues in
<br /> future years may result in more revenue than anticipated. As a result, and as is the case
<br /> for this CIP, the increased revenue numbers do not reflect an improved economy or
<br /> significant changes to CIP revenues. CIP expenditures and revenues for each of the
<br /> five CIP categories are included in the "CIP Tables" section of this document.
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