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liabilities during FY 2015/16. The adjustment of $1,708,239 reflected in Table 5 reflects
<br /> that prior decision.
<br /> Table 5. Recommended Adjustments to General Fund Reserves and Fund Balance
<br /> FY 2015/16 Adjustments FY 2015/16
<br /> Original Approved by Midyear Budget Recommended
<br /> Budget City Council Adjustments Midyear Budget
<br /> 10% Reserve for Economic Uncertainties $10,411,000 $569,536 $10,980,536
<br /> Unassigned Fund Balance 10,165,010 (1,708,239) 270,228 8,726,999
<br /> Total Reserves and Fund Balance $20,576,010 ($1,708,239) $839,764 $19,707,535
<br /> Repair and Replacement Fund
<br /> The proposed Mid-year Budget changes to the City's Repair and Replacement Fund of
<br /> $994,254 consists of the$1,060,454 in revenues including the$1 million from the General
<br /> Fund mid-year surplus which is off-set by $66,200 in additional expenses including
<br /> $25,000 in contractual services for landscape improvements at the Cultural Arts Building,
<br /> $25,000 street light replacement cost increases related to the Hansen Park project, and
<br /> various increased costs associated with vehicle purchases.
<br /> The Repair and Replacement Fund currently has a balance of $18.7 million. With the
<br /> proposed revenues and expenses, the balance will be $19.7 million.
<br /> Table 6. Repair and Replacement Fund Overview
<br /> FY 2015/16 Adjustments Mid-year FY 2015/16
<br /> Original Approved by Budget Recommended
<br /> Budget City Council Adjustments Midyear Budget
<br /> Beginning Fund Balance $ 21,878,737 $ 21,878,737
<br /> Plus Revenues 4,707,454 $ 530,252 $ 1,060,454 6,298,160
<br /> Transfers In 202,000 202,000
<br /> Less Expenses 8,080,471 . 530,925 66,200 8,677,596
<br /> Ending Fund Balance, $ 18,707,720 $ (673) $ 994,254 $ 19,701,301
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