22 - Laserfiche WebLink

Comparison of CIP Expenditures And Reserves (As included in adopted CIP's) $18,000,000 $16,000,000 - $17,103,460 $14,000,000 $14,363,385 $12,000,000 $10,000,000 $10,967,238 ■ ■ $9,832,774 $8,000,000 $6,000,000 ■ ■ ■ $4,000,000 ■ ■ ■ $2,000,0$00 ■ ■ ■ FY2011-12 FY2012-13 FY2013-14 FY2014-15 *The above represents the original budget amounts. Actual expenditures and reserves may have amended the totals. It should be noted that the above expenditures include $839,371 from the existing In Lieu Park Dedication Fee reserves as a contribution to the Bernal Community Park Phase II, Lighted Multi- Purpose Sports Fields. While this funding is reserved by City ordinance for the acquisition of new park land, staff is recommending its use for the Bernal Community Park as this is a high priority project and funding is necessary to meet the park's projected development budget. The City Council previously approved a similar use of In-Lieu Park Dedication Fees as part of the Mid-Term Capital Improvement Budget. Section IV includes details regarding the proposed funding for this park project. HI. SUMMARY OF THE MAJOR REVENUE SOURCES Beginning Balances Beginning balances are developed based on revenue estimated to be available effective July 1, 2013. The estimated beginning balance, representing the unappropriated amount not counting existing project reserves, for all project categories for this CIP is $27,569,238. The beginning balances are derived from available revenue from preceding years, from available development fee revenue collected calendar year 2012, from the close out of CIP projects funded previously that are no longer a priority and the ending balances from completed projects. In addition, as discussed as part of the Mid-Term Budget, the CIP now includes beginning balances that have not traditionally been part of this budget. However, this change assures consistency with overall budgetary practices. Some of the larger source and use of existing fund balance is as follows: