|
• Expenditure/Reserve adjustments of $221,867 include increasekg of $210,543 to the
<br /> Dublin Reimbursements for Future Projects reserve, $7,500 Transfer-out to the City's
<br /> General Fund to help pay for Gas Tax administration expenses, $1,656 to the 1-580
<br /> at Foothill Road Improvements Phase 1 and 2 project to reflect interest earnings
<br /> allocated to the project, and $9,668 to the Old Vineyard Avenue Pedestrian Trail
<br /> Phase I project to reflect interest earnings allocated to the project.
<br /> As a result of these adjustments the unencumbered ending fund balance will increase by
<br /> $63,926 and is projected to be $8.7 million on June 30, 2015.
<br /> Table 5. Streets CIP Funds
<br /> FY14/16 Adjustments FY14/15 Recommended FY14/16
<br /> Mid Term Approved b_City Council Adjusted Midyear Midyear
<br /> Budget Carryovers Others Budget Adjustments Budget
<br /> Beginning Fund Balance $31,901,473 $ 31,901,473 $ - $31,901,473
<br /> Plus Revenues 6,143,097 487,100 6,630,197 293,293 6,923,490
<br /> Transfers In - - -
<br /> Transfers Out - 7,500 7,500
<br /> Less Expenditures/Reserves 5,378,985 24,687,221 (189,475) 29,876,731 221,867 30,098,598
<br /> Ending Fund Balance $32,665,585 $(24,200,121) $ 189,476 $ 8,664,939 $ 63,926 $ 8,718,865
<br /> Conclusion
<br /> At this time staff is not recommending any additional increases to funding for new CIP
<br /> projects. Instead, these recommendations will be forth coming when staff brings forward
<br /> the FY 2015-16 and FY 2016-17 Budget Review for Council's approval in June 2015.
<br /> Su/br>aittteedd by: Approved
<br /> / Tina Olson Nelson Fialho
<br /> Director of Finance City Manager
<br /> Attachments:
<br /> 1. Resolution
<br /> 2. Appendix A — FY 2014/15 CIP Recommended Midyear Budget Adjustments
<br /> 3. Appendix B — FY 2014/15 CIP Adjusted Budget
<br /> Page 4 of 4
<br />
|