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11 Sacramento. City staff pays attention to the bottom line and the sources of revenue speak to how well Pleasanton's Council and staff planned for the future. Councilmember Brown is glad to see revenue increases. She would like to see how staff utilized part-time and contractual staff during the ebbs and flow times. Councilmember Olson wanted to approve the allocation so that everyone understands there is a big task in meeting the PERS requirements and is glad that we are using $1.4 million of the surplus towards that end. It is a big nut to crack and we are working on it. Mayor Thorne confirmed that due to an agreement with the County, the City receives sales tax revenues from fair grounds facility. City Manager Fialho clarified that when the Council approved the Pastime Plaza development, there was a waiver of parking in -lieu fees for parking Downtown. The special revenues include a transfer from Capital Improvement Reserve to make the Parking Fund whole. This action is reflected in this budget. MOTION: It was m/s by Olson /Narum to waive full reading and adopt Resolution No. 16-839 accepting the midyear FY 2015/16 operating budget and amending the FY 2015/16 operating budget accordingly. Motion passed by the following vote: Ayes: Councilmembers Brown, Olson, Narum, Pentin, Mayor Thome Noes: None Absent: None Adopt a resolution accepting the midyear budget for the FY 2015/16 capital improvement program (CIP) and amending the FY 2015/16 CIP accordingly Director of Finance Olson provided a staff report and a PowerPoint Presentation was displayed. Slides were displayed that described the Capital Improvement Program (CIP) mid -year report including sewer, water, and miscellaneous CIP funds, as well as parks and streets CIP funds. The mid -year Sewer CIP fund had no adjustments. There was a small increase in revenues for the Water CIP. There were carryovers approved by Council and other changes to the miscellaneous CIP. Recommending adjustments were recommended for revenues, transfers -in, and transfers -out. $626,720 will be deposited into CIP reserves. Adjustments to the Parks and Streets CIP were discussed including carryovers and other changes. There were revenues of $211,120 in the streets CIP including Dougherty Valley Mitigation fees and developer contributions. Expenses of $302,502 included bridge improvements, right -of -way transfer to Caltrans, and a balance into the CIP reserves. Councilmember Olson inquired as to the meaning of "carryover." Director of Finance Olson stated that any project closes out at the end of the fiscal year, however, projects oftentimes are not completed during the fiscal year timeline. The carryover approval allows the funding and project to be continued in the next fiscal year. MOTION: It was m/s by Pentin /Narum to waive full reading and adopt Resolution No. 16 -840 accepting the midyear budget for the FY 2015/16 capital improvement program (CIP) and amending the FY 2015/16 CIP accordingly. Motion passed by the following vote: Ayes: Councilmembers Brown, Narum, Olson, Pentin, Mayor Thorne Noes: None Absent: None City Council Minutes Page 7 of 10 March 15, 2016