Laserfiche WebLink
General Fund Transfers <br /> The Operating Budget includes increased annual transfers by $677,536 or 15% to the <br /> Capital Improvement Program (CIP). In addition to this, the General Fund transfers <br /> include operating subsidies to the Paratransit program, Storm Drain Fund, and Cemetery <br /> Fund as well as transfers from the General Fund to the Water and Sewer Funds to fund <br /> the senior and low income water and sewer discounts. Under Proposition 218, one <br /> classification of water customers can not subsidize another; therefore, if the City desires <br /> to provide senior and low income discounts to their customers they must fund the <br /> discounts through the General Fund of the City. Finally, there is a transfer from the Golf <br /> Course Fund to the General Fund of the net operating income from the Callippe Preserve <br /> Golf Course to repay the General Fund loan originally established for the development of <br /> the Golf Course. <br /> CONCLUSION <br /> The proposed Two Year Operating Budget is balanced. The Operating Budget provides <br /> funding for the programs and goals identified as priorities by the City Council. <br /> Staff recommends that the Council adopt the Operating Budget as presented. Staff will <br /> continue to monitor the progress of the economy, review revenues and expenditures <br /> quarterly, and report back to the Council, if and when, additional budget adjustments are <br /> required over the next two years. Furthermore, a detailed mid-term update will be <br /> conducted and presented to Council in June 2018 along with midyear reviews in <br /> February 2017 and 2018. <br /> Submitted by: Approved by: <br /> //i/\ <br /> Tina Olson Nelson Fialho <br /> Director of Finance City Manager <br /> Attachments: <br /> 1. Resolution <br /> Page 5 of 5 <br />