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Table 4. Transfers In and Transfers Out - Amended Budget vs. Actual
<br /> Year-End
<br /> Recommended
<br /> Amended Budget
<br /> Operating Transfers Budget Adjustments Actual $Variance
<br /> OPERATING TRANSFERS IN-From:
<br /> Urban Forestry Fund $37,274 $30,199 ($7,075)
<br /> PERS Rate Stablization Fund 12,356 12,356
<br /> Happy valley Specific Plan Fees Fund 20,147 20,147
<br /> Callippe Golf Operation Fund 135,813 135,813
<br /> Windsor Landscape Fund 8,068 8,068
<br /> OPERATING TRANSFERS OUT-To:
<br /> PERS Rate Stabilization - ($1,000,000) (1,000,000) -
<br /> Senior& Low Income Water& Sewer Discounts
<br /> Water Fund (220,000) - (230,362) (10,362)
<br /> Sewer Fund (110,000) - (94,150) 15,850
<br /> Transit Fund(Subsidy) (374,926) - (368,283) 6,643
<br /> Cemetery Fund(Subsidy) (30,000) - (30,000)
<br /> -
<br /> Golf Debt (1,320,000) (1,320,000) -
<br /> Golf Debt Payoff (13,170,000) (13,170,000) -
<br /> Debt Service 2004 COP's (385,536) - (385,480) 56
<br /> NET OPERATING TRANSFERS ($15,573,188) ($1,000,000) ($16,391,692) $181,496
<br /> The majority of the variance was due to the following:
<br /> Transfers In
<br /> o Happy Valley Specific Plan Fees ($20,147) received to
<br /> date were for the repayment of infrastructure loans
<br /> made by the General Fund to the Golf Course. This
<br /> item was not included in the Amended Budget because
<br /> receipt of these funds is dependent on when new
<br /> development in this area occurs. $20,147
<br /> o Revenues from the Callippe Golf Course operations
<br /> were not budgeted because in prior year's these funds
<br /> were used to pay annual debt service. Since the debt
<br /> was paid off in June 2013, these funds will now be
<br /> transferred directly to the General Fund to repay the
<br /> General Fund loan to the Golf Course (the loan amount
<br /> was originally $10.0 million; current balance is $7.325
<br /> million). $135,813
<br /> General Fund Reserves
<br /> Table 5 presents the proposed changes to the General Fund Reserves. As shown in
<br /> Table 5 the overall reserves of $12.2 million are proposed to increase to $13.1 million
<br /> Page 5 of 11
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