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adjusted budget by $7,667,642. The expenditure variance is due to budgeted projects
<br />not being completed during the fiscal year ($3,790,684) and the accumulation of project
<br />reserves ($3,876,958); most of which are being recommended to be carried forward to
<br />the 2O14/15FY as presented in Table 3B.
<br />Staff is recommending Council approval of additional budget amendments totaling
<br />$9,069 and budget carryovers to 2O14/15FY totaling $7,667,642 as shown in Tables 3A
<br />and 3B, respectively. The recommended budget amendments are as follows:
<br />• Close out of the completed Parks and Recreation Master Plan project which
<br />was under budget by $1,521
<br />• An increase in the Capital Improvement Program Reserve (CIPR) equal to the
<br />PG &E Solar Rebates ($10,590).
<br />Table 3A - Miscellaneous CIP Funds Adjusted Budget to Actual Revenues, Transfers &
<br />Exaend itu res /Reserves
<br />Page 5 of 10
<br />Recommended
<br />Year -End
<br />Amended
<br />Budget
<br />Adjusted
<br />$
<br />Misc CIP Funds
<br />Budget
<br />Amendments
<br />Budget
<br />Actual
<br />Variance
<br />Variance
<br />Beginning Fund Balance
<br />$ 13,059,799
<br />$ 13,059,799
<br />$ 13,059,799
<br />Revenues
<br />2,190,259
<br />2,190,259
<br />1,083,480
<br />$ (1,106,779)
<br />-50.5%
<br />Transfers In /(Out)
<br />(44,173)
<br />(44,173)
<br />(141,936)
<br />(97,763)
<br />221.3%
<br />Expenditures
<br />10,280,679
<br />$ 9,069
<br />10,289,748
<br />2,622,106
<br />(7,667,642)
<br />- 74.5%
<br />Ending Fund Balance
<br />$ 4,925,206
<br />$ (9,069)
<br />$ 4,916,137
<br />$ 11,379,237
<br />$ 6,463,100
<br />Page 5 of 10
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