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BACKGROUND
<br /> The Mid-Term Capital Improvement Program (CIP) has been prepared with a focus of
<br /> adhering to the current CIP budget unless changes are needed to address project bids
<br /> that impact project budgets, changes in funding sources, modifications needed to
<br /> address anticipated funding shortfalls, and/ or the addition of critical new projects. As a
<br /> result of this approach, no new projects have been added to the CIF' and only eight
<br /> have been amended. However, due to fluctuations in projected fee revenue, a number
<br /> of project reserves have also been amended. This Mid-Term anticipates total
<br /> expenditures, including reserves, of $32,183,975. Of this amount $14,363,385 is
<br /> projected for FY 2012-13 which is the only funded year of the program. This amount
<br /> represents an increase of $2,086,143 (+17%) over the $12,277,242 projected in the
<br /> current CIP for the same fiscal year. A total of $1,573,551 of this increase is attributed
<br /> to additional funding to the Capital Improvement Program Reserve (CIPR) which is
<br /> made possible as a result of a larger than anticipated Miscellaneous Projects beginning
<br /> fund balance and additional Public Facility Fee revenue.
<br /> Total Financial Resources available for all three years remaining in the CIP is estimated
<br /> at $57,574,838. Of this amount, $34,852,163 is programmed for FY 2012-13 which
<br /> represents an increase of $10,388,866 (42.4%). However, $3,920,239 of this increase
<br /> results from including existing fund balances from funds that have not historically been
<br /> reflected in the CIP document and as a result, while not new revenue, they have
<br /> increased the revenue total. This presentation change is intended to make the CIP
<br /> document more consistent with various City financial documents, including the City's
<br /> Comprehensive Annual Financial Report (CAFR). Staff anticipates additional
<br /> presentation changes, including tracking previously funded but not yet completed
<br /> projects, will be made as part of the 2013 CIP to obtain more consistency between
<br /> various financial documents. A summary of the funds added to the CIP document in
<br /> 2012-13 is as follows:
<br /> • Downtown & North Pleasanton Fund for Downtown Corridor Acquisition - $3,494,710
<br /> • City Cemetery Fund for cemetery related expenses - $197,793
<br /> • Traffic Fees for Bernal Property related traffic projects -$122,519
<br /> • Marilyn Kane Trail for additional Bernal property trail development - $105,217
<br /> Total - $3,920,239
<br /> It should be noted that the CIP also includes $12,906,812 of projected City development
<br /> fee revenue and these projections are subject to change based on actual versus
<br /> projected development activity. Finally, similar to the current CIP, the Mid-Term CIP
<br /> includes General Fund transfers of $1,700,000 in 2013-14 and $2,000,000 in 2014-15.
<br /> These transfers are also estimated amounts and subject to the status of General Fund
<br /> revenues. Because these transfers are included in the final two years of the CIP, they
<br /> are only projections and not critical to any currently funded project.
<br /> DISCUSSION
<br /> Bernal Property/Park Improvements
<br /> In 2008, the City Council awarded a design contract to Harris Design Landscape
<br /> Architects to develop detailed design plans for Phase II of Bernal Community Park and
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