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BACKGROUND
<br /> The City Council adopted the four-year 2013/14FY though 2016/17FY Capital
<br /> Improvement Program (CIP) on June 4, 2013. Since that time, there have been a
<br /> number of budget adjustments to the 2013/14FY portion of the CIP through various
<br /> Council (agenda) actions. This report puts forth the approved changes to date plus
<br /> additional recommended adjustments to the CIP for the 2013/14FY for Council's review
<br /> and approval.
<br /> Sewer CIP
<br /> Recommended Midyear adjustments to the Sewer CIP funds are shown in Table 1 and
<br /> include an increase in projected revenues of $105,000 due to an increase in projected
<br /> Sewer Connection Fees ($80,000) due to the issuance of building permits for the St.
<br /> Anton's multifamily housing project a nd interest income ($25,000). As a result of these
<br /> increases in revenues, the unencumbered ending fund balance will increase by
<br /> $105,000 and is projected to be $2.960 million on June 30, 2014.
<br /> Table 1. Sewer CIP Funds
<br /> 2013/14FY Adjustments 2013/14FY Recommended 2013/14FY
<br /> Original Approved by City Council Adjusted Midyear Midyear
<br /> Budget Carryovers Others Budget Adjustments Budget
<br /> Beginning Fund Balance $ 2,013,414 $ 7,269,443 $ - $ 9;282,857 $ $ 9,282;857
<br /> Plus Revenues 25,000 - - 25,000 105,000 130,000
<br /> Transfers In 1,200,000 - - 1,200,000 - 1,200,000
<br /> Transfers Out - - - - - -
<br /> Less Expenditures/Reserves 1,540,000 7,212,857 (1,099,864) 7,652,993 - 7,652,993
<br /> Ending Fund Balance $ 1,698,414 $ 56,586 $ 1,099,864 $ 2,854,864 $ 105,000 $ 2,959,864
<br /> Water CIP
<br /> Recommended Midyear adjustments to the Water CIP funds are shown in Table 2. The
<br /> adjustments include an increase in projected Water Connection Fees ($123,750) due to
<br /> the issuance of building permits for the St. Anton's multifamily housing project and an
<br /> increase in expenditures of $43,000 for the emergency main repair at Stoneridge Mall
<br /> Road and Springdale. As a result of these adjustments, the unencumbered ending fund
<br /> balance will increase by $80,750 and is projected to be $10.693 million on June 30,
<br /> 2014.
<br /> Table 2. Water CIP Funds
<br /> 2013/14FY Adjustments 2013/14FY Recommended 2013/14FY
<br /> Original Approved by City Council Adjusted Midyear Midyear
<br /> Budget Carryovers Others Budget Adjustments Budget
<br /> Beginning Fund Balance $12,629,252 $ 2,022,236 $ - $14,651,488 $ - $14,651,488
<br /> Plus Reoenues 214,000 - - 214,000 123,750 337,750
<br /> Transfers In 2,100,000 - 2,100,000 - 2,100,000
<br /> Transfers Out - - - - - -
<br /> Less Expenditures/Resenws 4,462,529 1,891,156
<br /> 6,353,685 43,000 6,396,685
<br /> Ending Fund Balance $10,480,723_ $ 131,080 $ - $10,611,803 $ 80,750 $10,692,553
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