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Table 10. Employee Benefit Fund —Amended Budget vs. Actual
<br /> Year-End
<br /> Recommended
<br /> Amended Budget
<br /> Employee Benefit Rind Budget Adjustments Actual $Variance %Variance
<br /> Beginning Fund Balance ($6,919,821) ($6,919,821) $0
<br /> Plus Reeenues 19,120,392 18,652,830 (467,562) -2.4%
<br /> Less Net Transfers - $478,000 478,000 - 0.0%
<br /> Less Expenditures (18,225,866) (17,670,017) 555,849 -3.0%
<br /> Ending Fund Balance ($6,025,295) $478,000 ($5,459,008) $88,287
<br /> Change in Fund Balance $894,526 $478,000 $1,460,813 $88,287
<br /> Replacement/Renovation Funds
<br /> In accordance with the City's financial policies and the General Plan, the City maintains
<br /> various Replacement/Renovation Funds. The purpose of these Funds is to provide
<br /> ongoing replacement of City equipment, vehicles, traffic signals, streetlights, and to
<br /> make major repairs/renovations to City facilities, parks, and medians, in order to extend
<br /> their useful lives.
<br /> Table '11 presents the activity in 2012/13FY in these funds. Additionally, $1.4 million of
<br /> expenditures originally planned for 2012/13FY were not undertaken and/or were
<br /> rescheduled to a later time. Therefore, these funds ended the year with $1.358 million
<br /> more in fund balance than originally budgeted. The City's Twenty Year Replacement
<br /> Plan will continue to allow for the replacement of assets as needed by revising timelines
<br /> for replacement, updating the useful lives of assets, and reprioritizing scheduled
<br /> 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 $21,878,136 $21,878,136 $0
<br /> Plus Revenues 2,462,130 2,412,440 (49,690) -2.0%
<br /> Less Net Transfers 80,000 $12,699 92,699 - 0.0%
<br /> Less Expenditures (4,890,853) (3,482,186) 1,408,667 -28.8%
<br /> Ending Fund Balance $19,529,413 $12,699 $20,901,089 $1,358,977
<br /> Change in Fund Balance ($2,348,723) $12,699 ($977,047) $1,358,977
<br /> -hcludes 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 insurance claims and deductibles. The General Fund currently funds a majority
<br /> of the annual revenue to this fund based on claims activity. The claims activity is
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