RES 03081 - Laserfiche WebLink

In addition, there are contingency funds in the current year (FY 2002-03) for operational changes to conserve energy, as well as homeland security capital needs and increased operating expenses such as overtime for training, disaster preparedness, and costs associated with regional or national stages of heightened alert. As part of the yearend report, staff will be recommending that any balances in these accounts be carded forward to the 2003-04 fiscal year. 3. General Fund Transfers As was previously mentioned, interfund reimbursements and payments for overhead are no longer reflected as transfers-in and transfers-out, but rather interfund revenues and interfund expenditures. Therefore, the items that remain classified as transfers- out reflect the movement of resources from one Fund to another rather than payment for something specific. In the General Fund, there are no proposed operating transfers in the two-year budget period. All recommended transfers represent funds being moved to the CIP for either debt service payments or capital improvement projects (streets, facilities, parks, storm drains). The City started phasing in contributions from General Fund operations to the CIP, in order to meet funding requirements for the General Fund's share (up to $62 million) of projects that were identified in the Development Impact Fee Report prepared in September 1998. As staff indicated at the time, it would take contributions of $3 to $6 million annually for twenty years to fund these projects (depending on the mix of cash versus debt). In addition to these contributions from General Fund operations, one-time funds have also been transferred to the CIP, to help fund the projects identified plus an expanding list of projects. Since 1997-98 and projected through 2004-05, the General Fund will have contributed $57 million to the CIP ($35.5 million from operations, and $21.5 million from one-time funds). The Development Impact Fee study will be updated during the coming budget cycle, and a new annual contribution to the CIP determined. It is likely this contribution will be in the range of $4 to $6 million. It is recommended that the General Fund transfer from operations to the Capital Improvement Program in 2003-04:$2.77 million to the Miscellaneous CIP project category, $1.38 for park projects, and $1.56 million for street maintenance and improvements. In addition, it is recommended that a one-time contribution of $1.4 million be made to the Miscellaneous CIP from the General Fund Capital Reserve for the Veteran's Memorial Building restoration project. In 2004-05, the recommended General Fund transfers from operations to the CIP include $3.6 million to the Miscellaneous CIP, $800,000 to parks projects, and $1.4 million for street maintenance and improvements. Thus General Fund net transfers-out are $7.1 million in 2003-04 and $5.8 million in 2004-05. xix