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• California Energy Commission ("CEC") unused loan proceeds of$285,325 for the
<br /> LED Street Light Retrofit that are going to be used to repay a portion of the CEC
<br /> loan.
<br /> • $30,670 for Happy Valley Specific Plan Water and Sewer Connection Fees.
<br /> • Transfer-in of $95,000 from the General Fund to repay a portion of the CEC loan
<br /> described in the bullet above.
<br /> • Interest income of$30,600 earned on CIP reserve fund balances.
<br /> • Transfer-out of $32,000 to the General Fund for partial repayment of Golf Course
<br /> Development/Infrastructure Loans.
<br /> • $350,000 CEC loan payment.
<br /> As a result of these adjustments the unencumbered ending fund balance will increase by
<br /> $59,595 and is projected to be $5.99 million on June 30, 2015.
<br /> Table 3. Miscellaneous CIP Funds
<br /> FY14/15 Adjustments FY14/15 Recommended FY14/16
<br /> Mid Term Approved by City Council Adjusted Midyear Midyear
<br /> Budget Carryovers Others Budget Adjustments Budget
<br /> Beginning Fund Balance $11,379,236 $ 11,379,236 $ - $11,379,236
<br /> Plus Revenues 1,433,223 1,350,850 2,784,073 346,595 3,130,668
<br /> Transfers In - 95,000 95,000
<br /> Transfers Out 269,490 269,490 32,000 301,490
<br /> Less Expenditures/Reserves 570,000 7,667,642 (269,490) 7,968,152 350,000 8,318,152
<br /> Ending Fund Balance $12,242,459 $ (6,316,792) $ - $ 5,925,667 $ 59,595 $ 5,985,262
<br /> Parks CIP
<br /> Recommended Midyear adjustments to the Parks CIP funds are shown in Table 4 and
<br /> include an increase in projected revenues of$82,550 due to interest earnings from Parks
<br /> CIP fund balance. This is off-set by an increased expenditure of$3,000 to help fund the
<br /> Bernal Property Improvements (Phase II) Reserve. As a result of these changes the
<br /> unencumbered ending fund balance will increase by $79,550 and is projected to be $3.8
<br /> million on June 30, 2015.
<br /> Table 4. Parks CIP Funds
<br /> FY14/15 Adjustments FY14/15 Recommended FY14/16
<br /> Mid Term Approved by City Council Adjusted Midyear Midyear
<br /> Budget Carryovers Others Budget Adjustments Budget
<br /> Beginning Fund Balance $15,312,714 $ 15,312,714 $ - $15,312,714
<br /> Plus Revenues 3,255,319 680,538 3,935,857 82,550 4,018,407
<br /> Transfers In 1,300,000 294,490 1,594,490 - 1,594,490
<br /> Transfers Out - - -
<br /> LessExpenditures/Reserves 2,857,622 14,019,305 269,490 17,146,417 3,000 17,149,417
<br /> Ending Fund Balance $17,010,411 $(13,338,767) $ 26,000 $ 3,696,644 $ 79,550 $ 3,776,194
<br /> Streets CIP
<br /> Recommended Midyear adjustments to the Streets CIP funds are shown in Table 5 and
<br /> described in more detail below and include an increase in projected revenues of$293,293
<br /> and increases in expenditures/reserves of$221,867.
<br /> • Revenue adjustments of $293,293 include $82,750 interest income form Streets CIP
<br /> fund balance and $210,543 Freeway Interchange fees received from the City of
<br /> Dublin.
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