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Miscellaneous CIP
<br /> Recommended Midyear adjustments to the Miscellaneous CIP funds are shown in
<br /> Table 3 and include increases in projected revenues of $645,284, an increase in
<br /> transfers ($76,419) and a decrease in expenditures/reserves of $3,000. The major
<br /> causes of these changes are as follows:
<br /> • Revenue increases ($645,284) include an increase in projected Public Facilities
<br /> Fees ($548,317) due to the issuance of building permits for the St. Anton's
<br /> multifamily housing project, an increase in Happy Valley Specific Plan Fees
<br /> ($74,967) that will be transferred out to the General Fund at year-end for the
<br /> repayment of the Golf Course Development and Infrastructure Loan, increases in
<br /> miscellaneous revenue and interest income ($22,000).
<br /> • A majority of the Transfer Out increases are due to the receipt of Happy Valley
<br /> Specific Plan Fees ($74,967) that will be transferred out to the General Fund at
<br /> year-end for the repayment of the Golf Course Development and Infrastructure
<br /> Loan
<br /> • Expenditure/Reserve decreases are due to a decrease of $3,000 in the budget
<br /> for the Alameda County Transportation Corridor as a result of the close out of the
<br /> escrow fund upon the purchase of the northern section of the Corridor.
<br /> As a result of these adjustments the unencumbered ending fund balance will increase
<br /> by $571,865 and is projected to be $4.909 million on June 30, 2014.
<br /> Table 3. Miscellaneous 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 $ 4,769,292 $ 8,290,507 $ - $13,059,799 $ - $13,059,799
<br /> Plus Revenues 55,300 - 1,489,675 1,544,975 645,284 2,190,259
<br /> Transfers In - - •- -
<br /> Transfers Out - - - - 76,419 76,419
<br /> Less Expenditures/Reserves 805,000 7,973,040_ 1,489,675. 10,267,715 (3,000) 10,264,715
<br /> Ending Fund Balance $ 4,019,592_ $ 317,467 $ - $ 4,337,059 $ 571,865 $ 4,908,924
<br /> Parks CIP
<br /> Recommended Midyear adjustments to the Parks CIP funds are shown in Table 4 and
<br /> include an increase in projected revenues of$1,497,610 due to an increase in projected
<br /> Park Dedication Fees ($1,446,210) due to the issuance of building permits for the St.
<br /> Anton's multifamily housing project and an increase in projected interest income
<br /> ($51,400). As a result of these changes the unencumbered ending fund balance will
<br /> increase by $1,497,610 and is projected to be $1.687 million on June 30, 2014.
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