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Budget Adjustment to deposit an additional $1.0 million in the fund in order to restore
<br /> the annual funding of the City's Twenty Year Replacement Plan to its pre-recession
<br /> level (2008/09FY) of $4.5 million. By doing this, the City's Twenty Year Replacement
<br /> Plan will continue to be amply funded to allow for the full replacement and repair of City
<br /> assets as needed.
<br /> Table 11. Repair & Replacement Funds"-Amended Budget vs. Actual
<br /> Year-End
<br /> Recommended Year-End
<br /> Amended Budget Recommended
<br /> Repair&Replacement.Funds Budget Actual $Variance Adjustments Actual
<br /> Beginning Fund Balance $20,901,089 $20,901,089 $0 $20,901,089
<br /> Plus Revenues 2,603,631 2,659,702 56,071 $1,000,000 3,659,702
<br /> Less Net Transfers 80,000 80,000 - 80,000
<br /> Less Expenditures (5,029,104) (3,813,623) 1,215,481 (3,813,623)
<br /> Ending Fund Balance $18,555,616 $19,827,168 $1,271,552 $1,000,000 $20,827,168
<br /> Change in Fund Balance ($2,345,473) ($1,073,921) $1,271,552 $1,000,000 ($73,921)
<br /> *IncNdes the activities of the Vehicle Replacement Fund,Equipment Replacement Fund,Facilities Renovation Fund,Police Vehicle Replacement
<br /> Fund,Park&Median Renovation Fund,Street Light Replacement Fund,Traffic Signal Replacement Fund and Goff Replacement Fund.
<br /> Self Insurance Fund
<br /> The Self Insurance Fund accounts for losses and liabilities related to lawsuits and public
<br /> liability insurance claims and deductibles. The General Fund currently funds a majority
<br /> of the annual revenue to this fund based on claims activity. The claims activity is
<br /> reflected in Table 12. The current level of funding appears to be adequate based on the
<br /> current claims activity.
<br /> Table 12. Self Insurance Fund —Amended Budget vs. Actual
<br /> Amended
<br /> Self Insurance Fund Budget Actual $Variance %Variance
<br /> Beginning Fund Balance $5,531,441 $5,531,441 $0
<br /> Plus Revenues 868,200 865,223 (2,977) -0.3%
<br /> Less Expenditures (1,075,000) (667,643) 407,357 -37.9%
<br /> Ending Fund Balance $5,324,641 $5,729,021 $404,380
<br /> Change in Fund Balance ($206,800) $197,580 $404,380
<br /> ALL OTHER OPERATING FUNDS
<br /> For the most part, budget variances are small for the other Operating Funds as shown
<br /> in Attachment 2. Most of the Landscape District Funds and Geologic Hazard District
<br /> Funds were slightly under budget, with expenditures less than the Amended Budget.
<br /> For all other Operating Funds, budget to actual variances were positive. Therefore staff
<br /> is recommending only a few minor budget changes, as outlined in Attachment 2.
<br /> Page 11 of 12
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