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Table 1B - Sewer CIP Funds Recommended Budget Carryovers to FY 2016/17 PROJECTED FUND BALANCE, JUNE 30, 2016 $ 12,573,539 PROJECT CARRYOVERS: Old Stanley Blvd Reconstruction and Undergrounding Utility 499,010 EALS/EARS Pump Station and Pipeline 4,697,027 Annual Sewer Main Improvements 1,480,316 Sewer Connection Fee Update 25,000 Meadowlark Sewer Siphon 746,622 Sewer Rate Analysis 9,432 Sewer Telemetry Upgrades 89,942 Bi-Annual Sewer Maintenance Hole Improvements 114,459 Bi-Annual Overhaul of Sewer Emergency Generators 51,483 Annual Sewer Pump and Motor Repairs 171,459 Bi-Annual Electrical Panel Upgrades and Restoration 55,788 Del Valle Parkway/ Nevada St Sewer Additions 838,874 Future Designated CIP Projects* 143,880 TOTAL PROJECT CARRYOVERS $ 8,923,292 ** ADJUSTED FUND BALANCE, JUNE 30, 2016 $ 3,650,247 *Per Developer Contributions worksheet maintained by the Finance Department ** The difference ($5,078) between the expenditure variance and the total carryover amount represents the refund and excess interfund expenses that were not budgetd Water CIP Funds Table 2A summarizes the FY 2015/16 activity for the Water CIP Funds Actual revenues and transfers were less than the adjusted budget by $12 4 million and $69,769, respectively The revenue variance of $12 4 million is mainly attributable to the loan from the State Water Resources Control Board for the Recycled Water Project from which the City had not received reimbursements by year-end Actual expenditures were less than the adjusted budget by $8,410,088 The majority of the expenditure variance is due to budgeted projects not being completed during the fiscal year that are being recommended to be carried forward to the FY 2016/17 as presented in Table 2B Staff is recommending through this Report that Council approve additional budget amendments totaling ($500) and budget carryovers to FY 2016/17 totaling $8,760,965 as shown in Tables 2A and 2B, respectively The recommended budget amendments are the following o Decrease in revenue budget by $309,608 and the expenditure budget by $309,108 to account for Recycled Water revenues coming in less than budgeted, off-set by increased interest earnings of $500 The net reduction of ($500) reflects the additional interest earnings allocated to the expenditure budget Page 3of10