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General Fund Transfers <br /> The Operating Budget includes increased annual transfers of approximately $2 million to <br /> the Capital Improvement Program (CIP). In addition to this, the General Fund transfers <br /> include operating subsidies to the Paratransit program, Storm Drain, and Cemetery as <br /> well as transfers from the General Fund to the Water and Sewer Funds to fund the senior <br /> and low income water and sewer discounts. Under Proposition 218, one classification of <br /> water customers can not subsidize another; therefore, if the City desires to provide senior <br /> and low income discounts to their customers they must fund the discounts through the <br /> General Fund of the City. Finally, there is a transfer from the Golf Course Fund to the <br /> General Fund of the net operating income from the Callippe Preserve Golf Course to <br /> repay the General Fund loan originally established for the development of the Golf <br /> Course. <br /> CONCLUSION <br /> The proposed Two Year Operating Budget is balanced. The Operating Budget provides <br /> funding for the programs and goals identified as priorities by the City Council. <br /> Staff recommends that the Council adopt the Operating Budget as presented. Staff will <br /> continue to monitor the progress of the economy, review revenues and expenditures <br /> quarterly, and report back to the Council, if and when, additional budget adjustments are <br /> required over the next two years. Furthermore, a detailed mid-term update will be <br /> conducted and presented to Council in June 2016 along with midyear reviews in January <br /> 2016 and 2017. <br /> Submitted by: Approved by: <br /> Tina Olson Nelson Fialho <br /> Director of Finance City Manager <br /> Attachments: <br /> 1. Resolution <br /> 2. FY 2015/16 Community Development Block Grant (CDBG) Program <br /> 3. Budget Summary <br /> Page 5 of 5 <br />