|
and miscellaneous revenues ($70,665) offset by reduced Gas Tax funds ($365,299)
<br /> and Transportation Development Act Grant for Bicycle and Pedestrian Paths
<br /> ($111,285). Actual expenditures were less than adjusted budget by $21,528,362. The
<br /> majority of the expenditure variance is due to budgeted projects not being completed
<br /> during the fiscal year ($16,016,155) and the accumulation of project reserves
<br /> ($5,499,034); all of which are being recommended to be carried forward to the
<br /> 2013/14FY as presented in Table 5B.
<br /> Staff is recommending through this Report that Council approve additional revenue and
<br /> expenditure budget amendments totaling $63,163 and $81,081, respectively, and
<br /> budget carryovers to 2013/14FY totaling $21,515,189 as shown in Tables 5A and 5B,
<br /> respectively. The recommended budget amendments are the following:
<br /> • Increase in revenue and expenditure budget of $63,163 to account for the
<br /> receipt of a developer contribution ($23,600) and interest earnings ($39,563).
<br /> • Increase in expenditure budget of $17,918 for the following projects:
<br /> Installation of Traffic Signals at Newton Way, Guzman & Trevor Parkways
<br /> ($391); Purchase of Street Right-of-Way from Ponderosa Homes ($13,000),
<br /> Annual Resurfacing of Various City Streets ($2,516), NPID 1 Reimbursement
<br /> ($2,011)
<br /> Table 5A - Streets CIP Funds Adjusted Budget to Actual Revenues, Transfers &
<br /> Expenditures/Reserves
<br /> Recommended
<br /> Year-End
<br /> Amended Budget Adjusted $
<br /> Streets CIP Funds Budget Amendments Budget Actual Variance Variance
<br /> Beginning Fund Balance $ 31,302,439 $ 31,302,439 $ 31,302,439
<br /> Revenues 4,697,148 $ 63,163 4,760,311 4,850,799 $ 90,488 1.9%
<br /> Transfers In/(Out) (277,038) (277,038) (278,976) (1,938) 0.7%
<br /> Expenditures 28,193,629 81,081 28,274,710 6,746,348 (21,528,362) -76.1%
<br /> Ending Fund Balance $ 7,528,920 $ (17,918) $ 7,511,002 $ 29,127,914 $21,616,912
<br /> Page 7 of 9
<br />
|