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Streets CIP Funds
<br /> Table 5A summarizes the FY 2015/16 activity for the Streets CIP Funds Actual
<br /> revenues were less than the adjusted budget by $5 6 million as a result of the following
<br /> revenues not received in FY 2015/16 that staff expect to receive in FY 2016/17
<br /> Transportation Development Act Grant, ACTC Grant for Bicycle and Pedestrian Paths,
<br /> OBAG Cycle Grant, Bridge Painting HBP Grant, Bridge Improvement HBP Grant, and
<br /> Rule 20A Reimbursements Actual expenditures were less than the adjusted budget by
<br /> $29 8 million The majority of the expenditure variance is due to budgeted projects of
<br /> $25 2 million not completed during the fiscal year and the accumulation of project
<br /> reserves of$4 6 million all of which are being recommended to be carried forward to the
<br /> FY 2015/16 as presented in Table 5B
<br /> Staff is recommending through this Report that Council approve additional revenue and
<br /> expenditure budget amendments totaling $3,151,619 and $231,992 respectively, and
<br /> budget carryovers to FY 2015/16 totaling $29,773,968 as shown in Tables 5A and 5B,
<br /> respectively The recommended budget amendments are the following
<br /> ® Net increase in revenue budget of $3,151,619 to account for the receipt of a
<br /> Rule 20A reimbursement of $2,862,311 and City of Dublin Freeway
<br /> Interchange Fees of $96,713, Tn-Valley Transportation Fee revenues of
<br /> $144,568, Dougherty Valley Mitigation Fees of $27,600, and a reduced
<br /> Bridge Improvement HBP Grant of$205,073
<br /> o Decrease in expenditure budget of $298,261 related to close out of bridge
<br /> improvement projects
<br /> o Increase in expenditure budget of for CIP Reserves for Future Projects of
<br /> $530,253
<br /> Table 5A - Streets CIP Funds Adjusted Budget to Actual Revenues, Transfers &
<br /> Expenditures/Reserves
<br /> Recommended
<br /> Year-End
<br /> Amended Budget Adjusted $
<br /> Streets CIP Funds Budget Amendments Budget Actual Variance Variance
<br /> Beginning Fund Balance $ 29,998,332 $ 29,998,332 $ 29,998,332
<br /> Revenues 11,594,216 $ 3,151,619 14,745,835 9,098,557 $(5,647,278) -38 3%
<br /> Transfers In/(Out) 1,175,000 1,175,000 1,169,377 (5,623)
<br /> Expenditures 37,753,094 231,992 37,985,086 8,483,089 (29,501,997) -77 7%
<br /> Ending Fund Balance $ 5,014,454 $ 2,919,627 $ 7,934,081 $ 31,783,177 $23,849,096
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