|
Table 10. Employee Benefit Fund — Amended Budget vs. Actual
<br /> rear-end
<br /> Amended Recommended
<br /> Employee Benefit Paid Budget Actual 6V5&GM Actual
<br /> Beginning Fund Balance $3,728,321 $3,728,321 $0 $3,728,321
<br /> Plus Revenues 18,255,180 18,326,908 71,728 18,326,908
<br /> Less Expenditures (17,351,592) (17,425,317) (73,725) (17,425,317)
<br /> Ending Fund Balance 4,631,909 4,629,912 (1,997) 4,629,912
<br /> Change riN Fund Balance $903,588 Nl09c9 MUM'X009041
<br /> Replacement/Renovation Funds. In accordance with the City's financial policies and
<br /> the General Plan, the City maintains various Replacement/Renovation Funds The
<br /> purpose of these funds is to provide ongoing replacement of City equipment, vehicles,
<br /> traffic signals, streetlights, and to make major repairs/renovations to City facilities, parks,
<br /> and medians, in order to extend their useful lives
<br /> Table 11 presents the activity in FY 2015/16 in these funds As described in Table 11, the
<br /> Repair and Replacement funds spent $2 2 million less than anticipated in FY 2015/16 All
<br /> of this $2 2 million will remain in the Repair and Replacement funds to be expended on
<br /> projects and equipment replacements in the future
<br /> Table 11. Repair & Replacement Funds - Amended Budget vs. Actual
<br /> rear-end
<br /> G;safaitbd Recommended
<br /> Repair Q Replacement PaliCI Budget Actual 0%YltiMig Actual
<br /> Beginning Fund Balance $21,626,251 $21,626,251 $0 $21,626,251
<br /> Plus Revenues 6,712,533 6,478,875 (233,658) 6,977,248
<br /> Less Net Transfers 202,000 202,000 0 202,000
<br /> Less Expenditures (8,583,596) (6,350,789) 2,232,807 (6,350,789)
<br /> Ending Fund Balance 19,957,188 21,956,337 1,999,149 22,454,710
<br /> Change Fund Balance Mo669,063) $'330,086 09,999,9(,'0 $828,459
<br /> Self-Insurance Fund. The Self Insurance Fund accounts for losses and liabilities related
<br /> to lawsuits and public liability insurance claims and deductibles The General Fund
<br /> currently funds a majority of the annual revenue to this fund based on claims activity The
<br /> claims activity is reflected in Table 12 The current level of funding appears to be adequate
<br /> based on the current claims activity As described in Table 12, the Self-Insurance Fund
<br /> Page 10 of 11
<br />
|