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ATTACHMENT 2 AH,AN ON BUDGET SUMMARY 2013/14FY&2014/15FY Operating Budget The Two Year Operating Budget (Operating Budget) is projected to be $162.2 million in 2013/14FY and $167.0 million in 2014/15FY which represents a 27% decrease and a 25% decrease, respectively, from the 2012/13FY Midyear Budget. The Operating Budget is comprised of a number of funds that are summarized in the following five categories of funds: Total Budgeted Expenditures _ (In Millions) 2013/14FY 2014/15FY 2011/12FY 2012/13FY Total %of Total %of Fund Category Actuals Midyear Expenditures Budget Expenditures Budget General Fund $86.1 $88.9 $90.9 56.1% $93.1 55.8% Enterprise Funds 33.8 36.4 36.7 22.6% 37.8 22.6% Internal Service Funds 42.0 36.9 32.4 20.0% 34.1 20.4% Special Revenue Funds 29.4 38.0 1.8 1.1% 1.6 1.0% Debt Service &Trust Funds 2.4 22.8 0.4 0.2% 0.4 0.2% $193.7 $223.0 $162.2 100.0% $167.0 100.0% The only funds that are not included in the Operating Budget are the Capital Improvement Funds. The following is a summary of the major causes for the decrease in the Operating Budget since the 2012/13FY Midyear Budget: Description Decrease One time PERS stabilization payments $ 2,000,000 Transfer of the accounting for LPFD to City of Livermore 30,000,000 Reserve for Kottinger Place Capital Improvement Project 8,000,000 Payoff of 2003 Certificates of Participation (Golf Course) 20,845,000 Total $60,845,000 General Fund General Fund operating revenues are projected to total $92.4 million in 2013/14FY and $94.5 million in 2014/15FY, a 1.2% increase over the 2012/13FY Midyear Budget and a 2.2% increase over the 2013/14FY proposed Budget. General Fund operating expenditures are projected to total $90.9 million in 2013/14FY and $93.1 million in 2014/15FY, a 2.2% increase over the 2012/13FY Midyear Budget and a 2.4% increase over the 2013/14FY proposed Budget. The following charts present a comparison of the revenues and expenditures for the five year period ending 2014/15FY. 1