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Table 5A -Streets CIP Funds Adjusted Budget to Actual Revenues, Transfers &
<br /> Expenditures/Reserves
<br /> Recommended
<br /> Amended Year-End Adjusted $
<br /> Streets CIP Funds Budget Budget Budget Actual Variance Variance
<br /> Amendments
<br /> Beginning Fund Balance 31,761,398 31,761,398 31,761,398
<br /> Plus Revenues 5,715,915 (19,210) 5,696,705 8,213,772 2,517,067 44.2%
<br /> Transfers In/Out (2,616,000) (2,616,000) (3,229,209) (613,209) 23.4%
<br /> Less Expenditures/Reserves (27,590,429) 364,335 (27,226,094) (5,443,522) 21,782,572 80.0%
<br /> Ending Fund Balance 7,270,384 345,125 7,616,009 31,302,439 23,686,430
<br /> Staff is recommending that Council approve additional budget amendments totaling
<br /> $345,125 and budget carryovers to 2012/13FY totaling $21,782,572 as shown in Tables
<br /> 5A and 5B, respectively. The recommended budget amendments include the following:
<br /> • Increase in revenue budget to account for the receipt of a
<br /> developer contribution ($10,000) and additional interest
<br /> earnings ($50,091) $60,091
<br /> • Decrease in ARRA grant revenue and a corresponding
<br /> decrease in the budget for the Overlay of Various City Streets
<br /> project (79,301)
<br /> • Close out of the following projects:
<br /> • Annual Resurfacing of Various City Streets ($346,660)
<br /> • Traffic Computer Upgrades ($19,163)
<br /> • Bi-annual Installation of Safety Devices ($88)
<br /> • Increase in the Bi-Annual Neighborhood Traffic Calming
<br /> Devices project ($7,070) and miscellaneous expenditures
<br /> ($12,567) 364,335
<br /> Net Recommended Amendments $345,125
<br /> As shown in Table 5A, the Streets CIP funds' ending fund balance as of June 30, 2012
<br /> is projected to be $31,302,439 or $23,686,430 higher than the Adjusted Budget due to
<br /> projects not being started or completed in the 2011/12FY. Table SB presents the
<br /> recommended project carryovers and project reserve carryovers to the 2012/13FY.
<br /> After carrying forward these projects and project reserves the adjusted fund balance is
<br /> projected to be $9,695,436.
<br /> Page 9 of 11
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