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June 30 and the associated project expenditures are included in the recommended
<br /> budget carryovers to 2013/14FY. The expenditure variance is due to budgeted projects
<br /> not being completed during the fiscal year ($1,174,378) and the accumulation of project
<br /> reserves ($11,853,136); all of which are being recommended to be carried forward to
<br /> the 2013/14FY as presented Table 4B.
<br /> Staff is recommending through this Report that Council approve additional budget
<br /> amendments totaling $12,850 and budget carryovers to 2013/14FY totaling
<br /> $13,027,514 as shown in Tables 4A and 4B, respectively. The recommended budget
<br /> amendments are the following:
<br /> • Increase in revenue and expenditure budget of $12,850 to account for the
<br /> receipt of a developer contribution ($10,000) for the Bernal Property
<br /> Improvements Reserve and interest received on developer contributions
<br /> ($2,850). There is a corresponding increase in the Bernal Property
<br /> Improvements Reserve (Phase II).
<br /> Table 4A - Parks CIP Funds Adjusted Budget to Actual Revenues, Transfers &
<br /> Expenditures/Reserves
<br /> Recommended
<br /> Year-End
<br /> Amended Budget Adjusted $
<br /> Parks CIP Funds Budget Amendments Budget Actual Variance Variance
<br /> Beginning Fund Balance $ 12,250,160 $ 12,250,160 $ 12,250,160
<br /> Revenues 3,432,780 $ 12,850 3,445,630 2,692,772 $ (752,858) -21.8%
<br /> Transfers In/(Out) 1,169,011 1,169,011 1,169,011
<br /> Expenditures 15,756,735 12,850 15,769,585 2,742,071 (13,027,514) -82.6%
<br /> Ending Fund Balance $ 1,095,216 $ - $ 1,095,216 $ 13,369,872 $ 12,274,656
<br /> Table 4B - Parks CIP Funds Recommended Budget Carryovers to 2013/14FY
<br /> PROJECTED FUND BALANCE, JUNE 30, 2013 $ 13,369,872
<br /> REVENUE CARRYOVERS:
<br /> East Bay Regional Park District Measure WW Park Bond Extension Gran 810,320
<br /> TOTAL REVENUE CARRYOVERS $ 810,320
<br /> PROJECT CARRYOVERS:
<br /> Lions Wayside Park Improvements (design) 170,378
<br /> Dolores Bengtson Aquatic Ctr. Deck & Mechanical Bldg. Improvements 1,004,000
<br /> TOTAL PROJECT CARRYOVERS $ 1,174,378
<br /> RESERVE CARRYOVERS:
<br /> General Trail Improvements and Development Reserve 836,259
<br /> Bemal Property Improvements Reserve (Phase II) 10,581,945
<br /> New Community Park: Site Acquisition Reserve 282,932
<br /> Bemal Property Trail Reserve 152,000
<br /> TOTAL RESERVE CARRYOVERS $ 11,853,136
<br /> TOTAL PROJECT AND RESERVE CARRYOVERS $ 13,027,514
<br /> ADJUSTED FUND BALANCE, JUNE 30, 2013 $ 1,152,678
<br /> Streets CIP Funds
<br /> Table 5A summarizes the 2012/13FY activity for the Streets CIP Funds. Actual
<br /> revenues exceeded adjusted budget by $90,488 and transfers were less than the
<br /> adjusted budget by $1,938. Revenues exceeding budget included Traffic Impact Fees
<br /> ($271,356), Measure B & F funds ($106,830), Freeway Interchange Fees ($118,220),
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