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Transfer of Funds.
<br /> Actual General Fund transfers were more than the Amended Budget by $18,533 as
<br /> shown in Table 4.
<br /> Table 4. Transfers In and Transfers Out -Amended Budget vs. Actual
<br /> Amended
<br /> Operating Transfers Budget Actual $Variance
<br /> OPERATING TRANSFERS IN -From:
<br /> Urban Forestry Fund $18,637 $20,798 $2,161
<br /> Retiree Medical Fund (Implied Subsidy) 588,870 588,870 -
<br /> Repayment Golf Course loan 32,000 32,076 76
<br /> Happy Valley Infrastructure Loan Repayment 233,163 199,014 (34,149)
<br /> Misc 2,060 2,060
<br /> OPERATING TRANSFERS OUT-To:
<br /> CIPR (1,300,000) (1,300,000) -
<br /> Senior& Low Income Water&Sewer Discounts
<br /> Water Fund (244,000) (202,509) 41,491
<br /> Sewer Fund (105,000) (100,805) 4,195
<br /> Transit Fund (Subsidy) (399,412) (386,713) 12,699
<br /> Storm Drain Fund (Subsidy) (330,000) (330,000) -
<br /> Cemetery Fund (Subsidy) (30,000) (30,000) -
<br /> Debt Service 2003 COP's (588,870) (588,870) -
<br /> PERS Rate Stabilization (1,708,218) (1,708,218) -
<br /> Downtown Parking Fund (57,500) (67,500) (10,000)
<br /> LED CEC Loan Repayment (95,000) (95,000) -
<br /> NET OPERATING TRANSFERS ($3,985,330) ($3,966,797) $18,533
<br /> General Fund Reserves
<br /> Table 5 presents the proposed changes to the General Fund Reserves. As shown, the
<br /> overall reserves of $14.9 million are proposed to increase to $20.6 million as a result of
<br /> staffs recommended allocation of the excess year-end funds of $5.7 million to various
<br /> reserves. Staff further recommends allocating these funds to maintain the Reserve for
<br /> Economic Uncertainties at 10% of revenues in the General Fund, commit the $1.2 million
<br /> that was allocated in the City's FY 2015116 budget to future CIP reserves plus the $1.2
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