RES 17954 - Laserfiche WebLink

Changes in Reserves in FY 2016/17 Midyear Budget Review Estimated w General Fund - Fund Balance Balance FY 2016/17 Balance , CD Reserve Designations 6/30/2016 Adjustments 6/30/2017 20% of Expenditures - Reserve for 3 Economic Uncertainties $20,583,975 $171,089 $20,755,064 TOTAL $20,583,975 $171,089 $20,755,064 Changes in Reserves in FY 2017/18 Estimated Estimated General Fund - Fund Balance Balance FY 2017/18 Balance Reserve Designations , 6/30/2017 Adjustments 6/30/2018 20% of Expenditures - Reserve for Economic Uncertainties $20,755,064 $832,664 $21.587,728 TOTAL $20,755,064 $832,664 $21,587,728 Staff is recommending a Reserve of $21.6 million in FY 2017/18 and $22 million in FY 2018/19 which equal 20% of operating expenses as required by the City' reserve policy in FY 2017/18. Changes in Reserves in FY 2018/19 Estimated Estimated General Fund - Fund Balance Balance FY 2018/19 Balance Reserve Designations 6/30/2018 Adjustments 6/30/2019 20% of Expenditures - Reserve for Economic Uncertainties $21,587,728_ $487,119 $22,074,847 TOTAL $21,587,728 $487,119 $22,074,847 Enterprise Funds Water Fund Revenues from water sales are expected to increase by approximately 6.9% in FY 2017/18 and increase by 4.7% in FY 2018/19; mainly attributable to Zone 7 and City of Pleasanton rate increases. Expenses in the Water Fund are estimated to increase overall by 8.8% in FY 2017/18 and decrease by -0.1% in FY 2018/19. The increase in FY 2017/18 is primarily attributed to increased cost of water purchased from Zone 7. The Zone 7 Water Agency is the water wholesaler for the Livermore-Amador Valley, purchasing, treating, and delivering water to the cities of Pleasanton and Livermore, Dublin San Ramon Services District (DSRSD), and the California Water Service Company (serving parts of Livermore). The $2.7 million increase in transfers out in FY 2017/18 is to increase funding to the CIP to help fund water projects.