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Vice-Mayor Pentin asked and Ms. Wagner confirmed that the adjusted fund balance is available for future programming, limited to projects that relate to each respective fund. Councilmember Olson asked if it is correct to assume that there may also be carryovers for those projects completed between July 1, 2014 and now but perhaps did not cost as much as anticipated. Ms. Wagner explained that the information presented reflects each project's status as of June 30, 2014. Any excess funds from projects completed since that time will be sent back to the fund balance when the Council reviews the CIP in May 2015. Councilmember Olson suggested that it would be helpful in future reports to note which projects have been completed between the close of the Fiscal Year and presentation of the year-end report. Ms. Wagner agreed. She identified the Recycled Water Project (Water Fund), Sanitary Sewer Pump Station S-5 and Stoneridge Mall Sewer Bypass Projects (Sewer Fund) as those that were completed since the close of the Fiscal Year. She reviewed the Miscellaneous Fund, which began the year with a fund balance of $13 million. Revenues totaled approximately $1.1 million less than the $2.2 million projected due to an outstanding reimbursement (pending project completion) from the CEIC for the LED streetlights project. Staff is requesting project carryovers of $3.8 million. Staff is also requesting several budget amendments related to the close out of the completed Parks and Recreation Master Plan and an increase to the CIP Reserve equal to the PG&E solar rebates the city continues to receive. After adjustments, the Miscellaneous Fund ends the year with a cash balance of$11.4 million and adjusted fund balance of$5 million. The only project to be completed since the close of the Fiscal Year is the LED Streetlight Retrofit. Councilmember Brown noted the wide variety of projects under the Miscellaneous Fund and asked if she was correct in understanding that this fund has more flexibility than others in terms of how monies can be allocated. Ms. Wagner explained that allocations from the General Fund which are not specifically dedicated to a project are placed in the Miscellaneous Fund. While the revenue source typically dictates what type of projects other funds can support, the Miscellaneous Fund is designed to cover anything not specifically allowed by those sources. Mr. Fialho said he took exceptional notice to Councilmember Olson's earlier comment regarding funding priorities and limited resources. He explained that as the Council develops its Work Plan and looks to fund certain projects for which there may not be sufficient monies within their respective funds or revenue sources, the Miscellaneous Fund/Capital Improvement Program Reserve is where the city would then look to initiate some of its community wide efforts. The Parks Fund began the year with a fund balance of $13.4 million. Revenues totaled $1.9 million versus the $2.3 million anticipated, which is really attributable to outstanding East Bay Regional Park District Measure WW Park Rent grant revenues. Expenses were again less than budgeted to projects that have yet to begin or be completed, the largest of which is Bemal Property Phase II. Staff is requesting a carryover of revenues and project reserves and recommending small budget adjustments to account for unexpected developer contributions and interest income. The Parks Fund ends the year with an adjusted fund balance of approximately $1.9 million. Ms. Wagner reviewed the Streets Fund, which began the year with a balance of $29.1 million. Revenues, which come largely from Gas Tax funds, exceeded the $10.1 million that was projected by a net amount of $155,000. Specific revenue increases include Traffic Impact Fees ($276,000), Gas Taxes ($246,000), Measure B and F revenues ($60,000) and Dublin Freeway Interchange Fees City Council Minutes Page 13 of 14 Dec 2,2014