|
BACKGROUND
<br /> The City Council adopted the four-year FY 2013/14 though FY 2016/17 Capital
<br /> Improvement Program (CIP) on June 4, 2013 and a Midterm adjustment on June 17,
<br /> 2014. Since that time, there have been a number of budget adjustments to the FY
<br /> 2014/15 portion of the CIP through various Council (agenda) actions. This report puts
<br /> forth the approved changes to date plus additional recommended adjustments to the CIP
<br /> for the FY 2014115 for Council's review and approval.
<br /> Sewer CIP
<br /> Recommended Midyear adjustments to the Sewer CIP funds are shown in Table 1 and
<br /> include an increase in projected revenues of $39,400 due to an increase in interest
<br /> income. As a result of these increases in revenues, the unencumbered ending fund
<br /> balance will increase by $39,400 and is projected to be $3.7 million on June 30, 2015.
<br /> Table 1. Sewer CIP Funds
<br /> FY14/15 Adjustments FY14/15 Recommended FY14/15
<br /> Mid Term Approved b_City Council Adjusted Midyear Midyear
<br /> Budget Carryovers Others Budget Adjustments Budget
<br /> Beginning Fund Balance $10228,967 $ - $ 10,228,967 $ - $10,228,967
<br /> Plus Revenues 180,437 - - 180,437 39,400 219,837
<br /> Transfers In 1,200,000 - - 1,200,000 - 1,200,000
<br /> Transfers Out - - - - - -
<br /> Less Expenditures/Reserves 850,000 7,237,542 (107,895). 7,979,647 - 7,979,647
<br /> Ending Fund Balance $10,759,404 $ (7,237,542) $ 107,895 $ 3,629,757 $ 39,400 $ 3,669,157
<br /> Water CIP
<br /> Recommended Midyear adjustments to the Water CIP funds are shown in Table 2. The
<br /> revenue adjustments of$125,000 is related to an agreement the City has with the Dublin
<br /> San Ramon Sewer District for the use of the City's recycled water. As a result of this
<br /> adjustment, the unencumbered ending fund balance will increase by $125,000 and is
<br /> projected to be $11.1 million on June 30, 2015.
<br /> Table 2. Water CIP Funds
<br /> FY14/15 Adjustments FY14/15 Recommended FY14/16
<br /> Mid Term Approved • _City Council Adjusted Midyear Midyear
<br /> Budget Carryovers Others Budget Adjustments Budget
<br /> Beginning Fund Balance $15,952,497 $ - $ 15,952,497 $ - $15,952,497
<br /> Plus Revenues 430,312 - 430,312 125,000 555,312
<br /> Transfers In 2,100,000 - 2,100,000 - 2,100,000
<br /> Transfers Out - 120,000 120,000 - 120,000
<br /> Less Expenditures/Reserves 2,604,529 4,747,386 53,000 7,404,915 7,404,915
<br /> Ending Fund Balance $15,878,280 $ (4,747,386) $ (173,000) $ 10,957,894 $ 125,000 $11,082,894
<br /> Miscellaneous CIP
<br /> Recommended Midyear adjustments to the Miscellaneous CIP funds are shown in Table
<br /> 3 and include increases in projected revenues of $346,595 and an increase in transfers-
<br /> in of$95,000. These revenues and transfer-in are off-set by transfers-out of$32,000 and
<br /> expenditures of$350,000. The major causes of these changes are as follows:
<br /> Page 2 of 4
<br />
|