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Enterprise Funds
<br /> Water Operations and Maintenance Fund — As shown in Table 6, recommended
<br /> changes to the Water Operations and Maintenance Fund include a net increase in
<br /> expenses of$74,596. The net increase includes an increase in personnel cost of$4,846
<br /> due to hiring a limited term Special Projects Officer to assist with the water rate study. In
<br /> addition, there is an increase of $44,626 for transfers-out to the City's PERS Rate
<br /> Stabilization Fund to pre-fund the City's unfunded PERS liability and $25,124 to the
<br /> Repair and Replacement Fund. This PERS Rate Stabilization Fund transfer reflects a
<br /> decision the City Council made at FY 2013-14 year-end but the funds did not actually
<br /> transfer.
<br /> Table 6.Water Operations and Maintenance Fund Overview
<br /> FY 2014115 Adjustments FY 2014/15
<br /> Mid Term Approved by Midyear Budget Adjustments Recommended
<br /> Budget City Council Personnel Non-Personnel Midyear Budget
<br /> Beginning Fund Balance $ 7,320,211 $ - $ - $ 7,320,211
<br /> Plus Revenues 19,039,519 - - 19,039,519
<br /> Transfers In 279,075 120,000 - - 399,075
<br /> Transfers Out 2,100,000 - 44,626 2,144,626
<br /> Less Expenses 17,343,272 120,000 4,846 25,124 17,493,242
<br /> Ending Fund Balance $ 7,195,533 $ - $ (4,846)_ $ (69,750) $ 7,120,937
<br /> Sewer Operations and Maintenance Fund — As shown in Table 7, recommended
<br /> changes to the Sewer Operations and Maintenance Fund total $123,054 and include a
<br /> decrease in personnel costs of $156,702 related to various vacant positions and an
<br /> increase in non-personnel costs of $20,955 related to a transfers-out to the City's PERS
<br /> Rate Stabilization Fund to pre-fund the City's unfunded PERS liability. Similar to the
<br /> Water Fund, this transfer reflects a decision the City Council made at FY 2013-14 year-
<br /> end but the funds did not actually transfer. There is also $12,693 transferred to the Repair
<br /> and Replacement Fund to fund future repair and replacement activities.
<br /> Table 7. Sewer Operations and Maintenance Fund Overview
<br /> FY 2014-15 FY 2014/15
<br /> Mid Term Midyear Bud•et Adjustments Recommended
<br /> Budget Personnel Non-Personnel Midyear Budget
<br /> Beginning Fund Balance $ 4,180,740 $ 4,180,740
<br /> Plus Revenues 13,382,616 13,382,616
<br /> Transfers In 236,705 236,705
<br /> Transfers Out 1,314,650 20,955 1,335,605
<br /> Less Expenses 12,261,431 (156,702) 12,693 12,117,422
<br /> Ending Fund Balance $ 4,223,980 $ 156,702 $ (33,648) $ 4,347,034
<br /> Golf Course Operations Fund — As shown in Table 8, recommended changes to the
<br /> Golf Course Operations Fund include a total decrease in expenses of $114,300 related
<br /> to reductions in golf supplies budget, golf course maintenance, food, and beverage labor
<br /> expenses, water and irrigation, and a decrease in environmental mitigation expenses. As
<br /> a result of this decrease in expenses the net operating income will increase by $115,390.
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