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• Increase in the revenue budget of $24,083 to account for interest and developer
<br />contributions received since the adoption of the Midyear Budget on March 18, 2014
<br />• A majority of the increase in the expenditure budget is for City staff time spent
<br />on water replacement projects ($81,412) and increases in future CIP projects
<br />funded by developer contributions ($24,083).
<br />Table 2A - Water CIP Funds Adjusted Budget to Actual Revenues, Transfers & Expenditures
<br />Table 2B - Water CIP Funds Recommended Budget Carryovers to 2014/15FY
<br />PROJECTED FUND BALANCE, JUNE 30, 2014
<br />$ 15,952,497
<br />Recommended
<br />Year -End
<br />Pressure Reducing Station Rehabilitation
<br />48,801
<br />Recycled Water Project
<br />118,634
<br />Amended
<br />Budget
<br />Adjusted
<br />127,483
<br />$
<br />°h
<br />Water CIP Funds
<br />Budget
<br />Amendments
<br />Budget
<br />Actual
<br />Variance
<br />Variance
<br />Beginning Fund Balance
<br />$ 14,651,488
<br />101,930
<br />$ 14,651,488
<br />$ 14,651,488
<br />Bi- Annual Replacement of Polybutylene Service Laterals
<br />18,362
<br />Revenues
<br />337,750
<br />$ 24,083
<br />361,833
<br />675,472
<br />$ 313,639
<br />86.7%
<br />Transfers In /(Out)
<br />2,100,000
<br />101,732
<br />2,100,000
<br />2,106,636
<br />6,636
<br />0.3%
<br />Expenditures
<br />6,114,623
<br />113,862
<br />6,228,485
<br />1,481,099
<br />(4,747,386)
<br />-76.2%
<br />Ending Fund Balance
<br />$ 10,974,615
<br />$ (89,779)
<br />$ 10,884,836
<br />$ 15,952,497
<br />$ 5,067,661
<br />Table 2B - Water CIP Funds Recommended Budget Carryovers to 2014/15FY
<br />PROJECTED FUND BALANCE, JUNE 30, 2014
<br />$ 15,952,497
<br />PROJECT CARRYOVERS:
<br />Pressure Reducing Station Rehabilitation
<br />48,801
<br />Recycled Water Project
<br />118,634
<br />Advanced Metering Infrastructure
<br />3,000,000
<br />Annual Water Pump and Motor Repairs
<br />127,483
<br />Water Connection Fee Update
<br />25,000
<br />Backflow Administration
<br />50,000
<br />Water Rate Analysis
<br />60,000
<br />Water Telemetry Upgrades
<br />50,000
<br />Bi- Annual Water Quality Improvement Project
<br />44,602
<br />Bi- Annual Electrical Panel Upgrades and Restorations
<br />101,930
<br />Bi- Annual Control Valve Installation
<br />55,942
<br />Bi- Annual Replacement of Polybutylene Service Laterals
<br />18,362
<br />Bi- Annual Overhaul of Emergency Water Generators
<br />22,053
<br />Bi- Annual Water Tank Corrosion Repairs
<br />100,000
<br />Annual Replacement of Water Meters
<br />237,023
<br />Del Valle Parkway Water Main Extension
<br />585,824
<br />Future Designated CIP Projects*
<br />101,732
<br />TOTAL PROJECT CARRYOVERS
<br />$ 4,747,386
<br />ADJUSTED FUND BALANCE, JUNE 30, 2014
<br />$ 11,205,111
<br />Per Developer Contributions worksheet maintained by the Finance Department
<br />Miscellaneous CIP Funds
<br />Table 3A summarizes the 2013/14FY activity for the Miscellaneous CIP Funds. Actual
<br />revenues and transfers were less than adjusted budget by $1,106,779 and $97,763,
<br />respectively. The revenue variance is due to the ongoing LED Street Light Retrofit
<br />project that is being funded through a loan from the California Energy Resources
<br />Conservation and Development Commission. Revenues from the loan were less than
<br />projected because funds are not received until after the project is completed. The
<br />project is expected to be completed in the 2014/15FY; therefore, these revenues are
<br />recommended to be carried forward to 2014/15FY. Actual expenditures were less than
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