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Table 4. Operating Transfers
<br /> FY 2016/17
<br /> FY 2013/14 FY 2014/15 FY 2015/16 Mid-Term Adjustments Mid-Year
<br /> Operating Transfers Actual Actual Actual Budget (Decreases) Budget
<br /> OPERATING TRANSFERS IN-From:
<br /> Urban Forestry Fund(1/2 of Landscape Arch Assist) $ 31,227 $ 20,798 $ 7,500 $ 7,500 $ 11,500 $ 19,000
<br /> Retiree Medical Fund(Implied Subsidy) 574,000 588,870 681,000 776,000 776,000
<br /> Happy Valley Infrastructure Loan Repayment 174,181 32,076 68,413 - -
<br /> Golf Loan Repayment 267,167 201,073 287,046 341,301 341,301
<br /> OPERATING TRANSFERS OUT-To:
<br /> CIPR (1,000,000) (1,300,000) (6,893,218) (5,004,589) - (5,004,589)
<br /> Senior&Low Income Water&Sewer Discounts
<br /> Water Fund (207,314) (202,509) (221,699) (237,000) (237,000)
<br /> Sewer Fund (87,697) (100,805) (107,105) (103,000) (103,000)
<br /> Transit Fund(Subsidy) (413,275) (386,713) (354,359) (457,737) (457,737)
<br /> Storm Drain Fund(Subsidy) (330,000) (330,000) (330,000) (330,000) (330,000)
<br /> Cemetery Fund(Subsidy) (30,000) (30,000) (30,000) (44,700) (44,700)
<br /> Debt Service 2004 COP's (382,441) - -
<br /> Repayment to Retiree Med Fund for Golf Debt (588,870) (681,000) (776,000) (776,000)
<br /> PERS Rate Stabilization&CERBT (928,584) (1,708,218) (4,291,951) (2,122,688) (2,122,688)
<br /> Downtown Parking Fund (67,500) - -
<br /> LED CEC Loan Repayment (95,000) (100,000) (190,628) (190,628)
<br /> NET OPERATING TRANSFERS $ (2,332,736) $ (3,966,798) $ (11,965,373) $ (8,141,541) $ 11,500 $ (8,130,041)
<br /> As described in Table 4 above, the only proposed adjustment to Operating Transfers in
<br /> the Midyear Budget is the operating transfer in from the Urban Forestry Fund that
<br /> increased by $11,500 based on actual landscape architecture staffing expenses.
<br /> General Fund Reserves and Fund Balance - Recommended adjustments to General
<br /> Fund Reserves is as shown in Table 5. Consistent with City fiscal policy, there is a
<br /> minimum reserve equal to 20% of operating expenses. 20% of the $103,523,345
<br /> proposed FY 2016/17 Midyear General Fund operating budget is $20,704,669 or
<br /> $171,089 more than the actual starting FY 2016/17 fund balance. The Midyear budget
<br /> includes a $171,089 increase to reserves to ensure the City is adhering to its reserve
<br /> policy.
<br /> Table 5. Recommended Adjustments to General Fund Reserves
<br /> General Fund Recommended FY 2016/17
<br /> Fund Balance Balances as of FY 2016/17 Mid-Year
<br /> Reserve Designations June 30,2016 Adjustments Budget
<br /> General Fund Reserve $20,583,975 $171,089 $20,755,064
<br /> Enterprise Funds
<br /> Water Operations and Maintenance Fund - As shown in Table 6, recommended
<br /> changes to the Water Operations and Maintenance Fund include a net increase of
<br /> $2,854,215 in expenditures and an increase of $2,670,000 in revenues. The increase
<br /> revenues is related to the Zone 7 rate increases adopted effective January 1, 2017 of
<br /> $2,750,000 off-set by anticipated reductions in backflow administrative revenues. There
<br /> is a corresponding increase in expenditures related to Zone 7 water purchases of
<br /> $2,750,000. In addition, there is a total of$104,215 increase in other expenses related to
<br /> salary adjustments approved in October of 2016, and carryover contracts from FY
<br /> 2015/16 for the Utility Billing system project.
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