CCMIN120214 - Laserfiche WebLink

($200,000). Specific revenue decreases relate to pending receipt of the Transportation Development Act Grant for bicycle and pedestrian pathways, Tri Valley Transportation fees, and the LED Streetlight Retrofit project for a loan made to the Hacienda Business Park Owners Association. Expenditures totaled $24.68 million less than projected, the majority of which relates to project carryovers. Staff is also recommending budget adjustments to reflect an increase in developer contributions and the close out of the Biannual Evaluation and Classification of Street Surfaces Project. The Streets Fund ends the year with an adjusted fund balance of $7.71 million. She briefly itemized notable carryover projects, a number of which are pending development and the resulting developer contributions, as well as those completed since the close of the Fiscal Year. Councilmember Narum requested confirmation that the city has been or will be reimbursed for the Bernal at 1-680 Interchange Improvements Project. Mr. Fialho explained that the city negotiated a settlement allocation from Bemal Improvement Corporation in the amount of $3.7 million. It is these monies that are being used to fund the current interchange improvements, the road resurfacing that will occur in the first two quarters of 2015 and then the monument sign recently approved by the Council. The settlement fund currently has a balance of approximately $2.1 million. Ms. Wagner explained that following adoption of the proposed budget amendments, staff will complete the budget audit and anticipates returning to the Council for review and approval in January 2015. Staff will then return with the 2014/15FY Mid-Year Budget Update in March and the 3-year CIP Budget for 2015/16FY-2017/18FY in June. Mayor Thorne noted there were no speakers to address this item. MOTION: It was m/s by Narum/Pentin to waive full reading and adopt the Resolution No. 14-723 accepting the 2013/14FY Unaudited Year-end Financial Report for the Capital Improvement Program (CIP) Budget and amending the 2013/14FY CIP Budget. Motion passed by the following vote: AYES: Councilmembers Brown, Narum, Olson, Pentin, Mayor Thorne NOES: None ABSENT: None MATTERS INITIATED BY COUNCIL - None COUNCIL REPORTS Councilmember Brown invited the community to upcoming holiday parade. ADJOURNMENT There being no further business, the meeting was adjourned at 9:56 p.m. The Council extended a tribute to our nation's men and women serving in the military. We wish to honor the memories of those who have died in past wars in defense of our country, including those who have died in the current conflicts in Iraq and Afghanistan. Respectfully su•miffed, L � � Y Karen Diaz City Clerk City Council Minutes Page 14 of 14 December 2, 2014