|
To avoid allocating anticipated revenue to specific projects, for the categories of Streets, Water
<br /> and Sewer, the projected fee revenue is carried over as fluid balances to the subsequent year. For
<br /> the Parks and Miscellaneous categories, the funds are placed in the Community Parks Reserve
<br /> and the CIPR in the year after the funds are expected to be received. By taking this step, the CIP
<br /> retains to the City's long term conservative approach of not allocating anticipated development
<br /> fee revenue until the fees are actually received. As a result of this change, and because the fund
<br /> balances include anticipated and not actual development impact fee revenue, it is important to
<br /> not view fund balances in any particular year as actual funding available. Staff will continue to
<br /> track development impact fees and those received will be presented in beginning balances as part
<br /> of the Mie-year CIP and the next CIP.
<br /> The following three tables provide a general summary of revenues, transfers and expenditures by
<br /> project category and funding source.
<br /> TABLE III
<br /> Projected Total Financial Resources
<br /> FY 2014-15 FY 2015,16 FY 2016-17 TOTAL
<br /> STREETS $11,150,038 $11,113,288 $11,194,922 $20,092,492
<br /> PARKS $6,242,662 $9,642,970 $6,797,795 $14,209,536
<br /> MISCELLANEOUS $6,342,147 $7,771,140 $6,301,005 $8,612,384
<br /> WATER $13,410,405 $13,257,462 $14,403,933 $18,130,991
<br /> SEWER $4,340,301 $4,929,378 $5,397,478 $7,027,478
<br /> TOTAL $41,485,553 $46,714,238 $44,095,133 $68,072,88.1
<br /> • To accurately reflect that amount of financial resources available each year by category,the above annual dollar
<br /> amounts include all available resources for each year including beginning and recurring fund balances.
<br /> However,the "TOTAL" column has been adjusted to reflect removal of these transfers and the recurring fund
<br /> balances. As a result,the"TOTAL"column does not equal the sum of the individual years.
<br /> TABLE IV
<br /> Recommended Expenditures and Reserves
<br /> FY 2014-15. FY 2015-16 FY 2016-17 TOTAL
<br /> STREETS $5,378,985 $3,518,585 $3,375,585 $12,273,155
<br /> PARKS $2,857,622 $3,254,119 $4,956,730 $11,068,471
<br /> MISCELLANEOUS $570,000 $3,041,379 $3,837,093 $7,448,472
<br /> WATER $2,604,529 $1,122,529 $1,472,529 $5,199,587
<br /> SEWER $850,000 $780,000 $850,000 _ $2,480,000
<br /> TOTAL $12,261,136 $11,716,612 $14,491,937 $38,469,685
<br /> • The numbers above include expenditures for CIP projects and the CIP reserves included in this CIP.
<br /> CIP REVENUES AND TRANSFERS
<br /> As indicated in Table III, the Total Financial Resources for FY 2014-15 is projected to be
<br /> $41,485,553 which represents an increase of$11,167,587 (36.8%) from the $30,317,966 that is
<br /> projected in the current CIP document. The Total Financial Resources for all years is estimated
<br /> at $68,072,881 which represents an increase of$3,798,410 (9.3%) from the $64,274,471 that is
<br /> 3
<br />
|