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make major repairs renovations to City facilities, parks, and medians, in order to extend
<br /> their lives.
<br /> As indicated above in the discussion of the General Fund, staff is recommending an
<br /> additional transfer of $561,277 to the Replacement/Renovation Funds. Unanticipated
<br /> expenditures in the Street Light, Golf Replacement and Vehicle Replacement Funds
<br /> totaling $31,586 are also reflected as year-end recommended budget adjustments.
<br /> Table 11 reflects these additional funds. Additionally, $2.9 million of expenditures
<br /> originally planned for 11/12FY were not undertaken and/or were rescheduled to a later
<br /> time. The City's Twenty Year Replacement Plan will continue to allow for the
<br /> replacement of assets as needed by revising timelines for replacement, updating the
<br /> useful lives of assets, and reprioritizing scheduled replacements on an ongoing basis.
<br /> Table 11. Repair & Replacement Funds*-Amended Budget vs. Actual
<br /> Year-End
<br /> Recommended
<br /> Amended Budget
<br /> Repair&Replacement Funds Budget Adjustments Actual $Variance %Variance
<br /> Beginning Fund Balance 22,703,706 22,703,706 -
<br /> Plus Retenues ' 1,374,564 561,277 ' 1,920,643 ' (15,198) -0.8%
<br /> Less Net Transfers 80,000 80,000 - ' 0.0%
<br /> Less Expenditures (5,774,057) (31,586) (2,826,213) 2,979,430 -51.3%
<br /> Ending Fund Balance 18,384,213 529,691 21,878,136 2,964,232
<br /> Change in Fund Balance (4,319,493) 529,691 (825,570) 2,964,232
<br /> Includes the activities of the Vehicle Replacement Fund,Equipment Replacement Fund,Facilities Renovation Fund,Police Vehicle Replacement Fund,
<br /> Park&Median Renovation Fund,Street Light Replacement Fund,Traffic Signal Replacement Fund and Golf Replacement Fund.
<br /> Self Insurance Fund
<br /> The Self Insurance Fund accounts for losses and liabilities related to lawsuits and public
<br /> liability related insurance deductibles and claims. The General Fund currently funds a
<br /> majority of the annual revenue to this fund based on claims activity. The claims activity
<br /> is reflected in Table 12. The current level of funding appears to be adequate based on
<br /> the current claims activity.
<br /> Table 12. Self Insurance Fund —Amended Budget vs. Actual
<br /> Year-End
<br /> Recommended
<br /> Amended Budget
<br /> Self Insurance Fund Budget Adjustments Actual $Variance %Variance
<br /> Beginning Fund Balance 5,912,147 5,912,147 -
<br /> Plus Reenues 1,055,000 1,119,411 64,411 6.1%
<br /> Less Net Transfers - - - 0.0%
<br /> Less Expenditures (1,252,000) (1,554,923) (302,923) 24.2%
<br /> Ending Fund Balance 5,715,147 5,476,635 (233,512)
<br /> Change in Fund Balance (197,000) (435,512) (2313,512)
<br /> ALL OTHER OPERATING FUNDS
<br /> For the most part, budget variances are small for the other Operating Funds as shown
<br /> in Attachment 2. Most of the Landscape District Funds and Geologic Hazard District
<br /> Funds were slightly under budget, with expenditures less than the Amended Budget.
<br /> Page 10 of 11
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