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Table 4. Recommended Adjustments to General Fund Reserves and Fund Balance
<br /> Adjustments FY 2014/15
<br /> FY 2014/15 Approved by Midyear Budget Recommended
<br /> Midterm Budget City Council Adjustments Midyear Budget
<br /> 10% Reserve for Economic Uncertainties $9,711,000 $0 $326,000 $10,037,000
<br /> Unassigned Fund Balance 5,330,581 - 1,208,218 6,538,799
<br /> Total Reserves and Fund Balance $15,041,581 $0 $1,534,218 $16,575,799
<br /> Repair and Replacement Fund
<br /> The proposed changes to the City's Repair and Replacement Fund of$596,954 consists
<br /> of the $1 million transfer from the General Fund surplus discussed earlier and a net of
<br /> $58,954 in revenues from other funds.
<br /> The $462,000 in expense adjustments includes the following:
<br /> • $190,000 to outfit leased City vehicles with equipment.
<br /> • $72,000 for a Fire Department vehicle.
<br /> • $70,000 to replace a street light pole.
<br /> • $50,000 to install traffic cameras.
<br /> • $80,000 is a carry-over for the golf course renovation construction contract.
<br /> The Repair and Replacement Fund currently has a balance of $20,131,437. With the
<br /> proposed revenues and expenses, the balance will increase by$596,954 to$20,728,391.
<br /> Table 5. Repair and Replacement Fund Overview
<br /> FY 2014/15 Adjustments Midyear FY 2014/15
<br /> Mid Term Approved by Budget Recommended
<br /> Budget City Council Adjustments Midyear Budget
<br /> Beginning Fund Balance $ 21,094,947 $ - $ 21,094,947
<br /> Plus Revenues 3,619,300 116,000 1,058,954 4,794,254
<br /> Transfers In 80,000 80,000
<br /> Transfers Out - -
<br /> Less Expenses 4,941,350 (162,540) 462,000 5,240,810
<br /> Ending Fund Balance $ 19,852,897 $ 278,540 r$ 596,954 $ 20,728,391
<br /> Page 6 of 8
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