|
Table 1A - Sewer COP Funds Adjusted Budget to Actual Revenues, Transfers & Expenditures
<br /> Recommended
<br /> Year-End
<br /> Amended Budget Adjusted $
<br /> Sewer CIP Funds Budget Amendments Budget Actual Variance Variance
<br /> Beginning Fund Balance $ 10,228,966 $ 10,228,966 $ 10,228,966
<br /> ReN,enues 219,837 $ 1,078 220,915 309,085 $ 88,170 39.9%
<br /> Transfers In/(Out) 1,200,000 1,200,000 1,200,000
<br /> Expenditures 7,960,725 (18,922) 7,941,803 300,236 (7,641,567) -96 2%
<br /> Ending Fund Balance $ 3,688,078 $ 20,000 $ 3,708,078 $ 11,437,815 $7,729,737
<br /> Table 1B - Sewer CIP Funds Recommended Budget Carryovers to FY 2015/16
<br /> PROJECTED FUND BALANCE, JUNE 30, 2015 $ 11,437,815
<br /> PROJECT CARRYOVERS:
<br /> EALS/EARS Pump Station and Pipeline 4,697,027
<br /> •
<br /> Annual Sewer Main Improvements 980,316
<br /> Sewer Connection Fee Update 25,000
<br /> Meadowlark Sewer Siphon 555,669
<br /> Sewer Rate Analysis 21,947
<br /> Sewer Telemetry Upgrades 89,942
<br /> Bi-Annual Sewer Maintenance Hole Improvements 46,227
<br /> Bi-Annual Overhaul of Sewer Emergency Generators 52,105
<br /> Annual Sewer Pump and Motor Repairs 121,459
<br /> Bi-Annual Electrical Panel Upgrades and Restoration 55,788
<br /> Del Valle Parkway/ Nevada St Sewer Additions 838,874
<br /> Future Designated CIP Projects* 142,320
<br /> TOTAL PROJECT CARRYOVERS $ 7,626,674
<br /> ADJUSTED FUND BALANCE, JUNE 30, 2015 . $ 3,811,141
<br /> *Per Developer Contributions worksheet maintained by the Finance Department
<br /> Water COP Funds
<br /> Table 2A summarizes the FY 2014/15 activity for the Water CIP Funds. Actual
<br /> revenues and transfers were less than the adjusted budget by $16.9 million and
<br /> $295,380, respectively. The revenue variance of $16.9 million is mainly attributable to
<br /> the loan from the State Water Resources Control Board for the Recycled Water Project
<br /> from which the City had not received reimbursements by year-end. Actual expenditures
<br /> were less than adjusted budget by $22.5 million. The majority of the expenditure
<br /> variance is due to budgeted projects not being completed during the fiscal year that are
<br /> being recommended to be carried forward to the FY 2015/16 as presented in Table 2B.
<br /> Staff is recommending through this Report that Council approve additional budget
<br /> amendments totaling $13,845 and budget carryovers to FY 2015/16 totaling
<br /> $22,561,207 as shown in Tables 2A and 2B, respectively. The recommended budget
<br /> amendments are the following:
<br /> • Increase in revenue budget of $612 to account for interest received since the
<br /> adoption of the Midyear Budget on March 17, 2015. The proposed net budget
<br /> Page 3 of 11
<br />
|