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Operating & Capital Transfers
<br /> Operating transfers to the General Fund include a transfer from the Retiree Medical Fund
<br /> ($695,000 in FY 2017/18 and $735,000 in FY 2018/19) to return the implied subsidy paid by the
<br /> General Fund on retirees' medical premiums and a transfer from the Golf Course Fund ($79,743
<br /> in FY 2017/18 and $88,166 in FY 2018/19) equal to estimated net revenues to repay the General
<br /> Fund loan originally established to help pay for the Happy Valley infrastructure that was required
<br /> for the Callippe Golf Course.
<br /> Operating transfers from the General Fund include operating subsidies to the Transit Fund, Storm
<br /> Drain Fund, and the Cemetery Fund. There are also transfers from the General Fund to the Water
<br /> and Sewer Funds to fund the senior and low income water and sewer discounts. Under Proposition
<br /> 218, one classification of water customers cannot subsidize another; therefore, if a City desires to
<br /> provide senior and low income discounts to their customers they must fund the discounts through
<br /> the General Fund of the City. Starting in FY 2017/18 the City will no longer transfer-in funds to the
<br /> Retiree Medical Fund to make the CERBT Trust contributions. Those payments will be expensed
<br /> directly from each affected fund. Finally, there is a transfer from the General Fund to the Capital
<br /> Improvement fund to fund the City's Capital Improvement Program (CIP). Staff is recommending
<br /> the General Fund transfer to the Capital Improvement Fund $5,195,725 in FY 2017/18 and
<br /> $5,121,274 in FY 2018/19 to address capital project funding requirements.
<br /> FY 2016-17
<br /> FY 2015/16 Midyear FY 2017/18 FY 2018/19
<br /> 'Operating Transfers Actual Budget Projected Projected
<br /> OPERATING TRANSFERS IN- From:
<br /> Urban Forestry Fund $7,500 $19,000 $19,000 $20,000
<br /> Happy Valley Specific Plan Fund (Loan Repayment) 68,413 - - -
<br /> Golf Fund (Loan Repayment) 287,046 341,301 79,743 88,166
<br /> Retirees' Medical Reserve Fund (Implied Subsidy) 681,000 776,000 695,000 735,000
<br /> OPERATING TRANSFERS OUT- To:
<br /> PERS Rate Stabilizatin Fund 3,919,587 2,000,000 - -
<br /> Transit Fund (Subsidy) 354,359 457,737 381,981 381,401
<br /> Senior&Low Income Water &Sewer Discounts
<br /> Water Fund 221,699 237,000 237,000 244,000
<br /> Sewer Fund 107,105 103,000 103,000 106,000
<br /> Storm Drain Fund (Subsidy) 330,000 330,000 330,000 330,000
<br /> Cemetery Fund (Subsidy) 30,000 531,100 45,000 45,000
<br /> CERBT trust contribution 372,364 122,688
<br /> Retiree Medical Fund (Repayment for 2003 COP Payoff) 681,000 776,000 695,000 735,000
<br /> LED Loan Repayment 100,000 190,628 190,628 190,628
<br /> Capital Improvement Funds 6,893,218 4,518,189 5,195,725 5,121,274
<br /> NET TRANSFERS ($11,965,373) ($8,130,041) ($6,384,591) ($6,310,137)
<br /> General Fund Reserves
<br /> The changes to General Fund Reserves are shown in the following tables for the estimated year-
<br /> end FY 2016/17 budget, the proposed FY 2017/18 Budget, and the proposed FY 2018/19 Budget:
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