14 - Laserfiche WebLink

from the date projects are deemed complete by both the applicants and City. This function saw no increases to staffing over this same time period. The percentage of cost recovery for the Division was 8.6% in fiscal year 2012/13; meaning this activity was heavily subsidized by the General Fund (91.40%). • Private Development Engineering and Inspection (middle stage) is responsible for the appropriate design and inspection of public infrastructure to support new development. Areas like Staples Ranch and the East Side Specific Plan Area are heavily dependent on these engineers and inspectors to ensure that infrastructure (e.g. water and sewer lines, joint trenches, roads, bridges, etc.) is designed and constructed to City standards. In fiscal year 2011/12, the percentage of cost recovery for the Division was 71%, mainly due to construction of Staples Ranch and the Pleasanton Gateway Shopping Plaza. In 2012/13, cost recovery for this function decreased to only 22%, as most of the aforementioned projects were completed in the previous year. Fee revenue for this division is projected to grow in the coming fiscal years due to future development activity resulting from SouthBay Inc., Lund Ranch II and possibly East Pleasanton. As a result, General Fund subsidies should decrease during this same time period. 5. Library Services have experienced a modest decrease in staffing, while continuing to grow its circulation and annual visits. The Pleasanton Library exceeds State averages for all municipal libraries for the following categories: visits, circulation, cost per circulation, circulation per book/item, and programming attendance per capita. The Library is among the busiest in the Bay Area and has been for the last decade. 6. Financial Stability is measured by the City's bond rating and reserve balances. During the economic downtown, the City did not dip into reserves to maintain services. In fiscal year 2012/13, the City initiated the full payoff of golf course debt approximately 10 years in advance. The results of this action means the City will be free of construction debt - effective fiscal year 2013/14 - for the first time since the mid-1960s. General Fund and Enterprise Reserves balances remain strong and the City's underlying financial policies and practices are endorsed by Standard and Poor's "AA" rating of the City's credit. The City also measures pension obligations annually. For fiscal year ending June 30, 2011, the City's unfunded pension obligations ranged between $132 million (actuarial basis) and $162 million (market basis). This represented a 4% and 13.8% reduction, respectively, from the period ending June 30, 2009 (the City's benchmark year). Reductions were a. reflection of larger than anticipated market returns, implementation of local and statewide pension reforms, and accelerated payments by the City to eliminate the negative amortization inherent in PERS employer rates. Page 6 of 8