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Staff is recommending through this Report that Council approve additional budget
<br /> amendments totaling $365,096 and budget carryovers to FY 2017/18 totaling
<br /> $6,419,375 as shown in Tables 2A and 2B, respectively. The recommended budget
<br /> amendments are the following:
<br /> •
<br /> o Increase in revenue budget by $3,200 to account for increased interest
<br /> earnings on the fund balance and the expenditure budget by $82,358 to
<br /> account for over-expenditures on the polybutylene service laterals annual
<br /> program. In addition, the increase in the transfers in budget of$444,254
<br /> creates the debt.service reserve account as required by the State Water
<br /> Resources Control .Board for the recycled water project loan.
<br /> Table 2A -Water CIP Funds Adjusted Budget to Actual Revenues, Transfers & Expenditures
<br /> Recommended
<br /> - - • 'Year4End -
<br /> �..
<br /> � et� Ad'usted. _ i.. h
<br /> _Amended �Budg, ii 1. � .. - • '$'� ��.
<br /> . - I'
<br /> �Water�:CIP'Funds Budget ' Amendments 'Budget , - 'Actual - Variance ; 'Variance
<br /> Beginning Fund Balance* $17,063,537 $17,063,537 $17,063,537
<br /> • Revenues 13,179,170 _ $3,200 13,182,370 1;246,307 ($11,936,063) -90.5%
<br /> Transfers I n/(Out) 1,700,000 444,254 2,144,254 2,407,633 263,379__ 12.3%
<br /> Expenditures 18,923,481 82,358 19,005,839 12,586,464 (6,419,375) -33.8%
<br /> 'Ending:fund!Balance' $1:3,019,226 .$365;096 $13;384,3221 '$8,131013 05,253;309y'`'
<br /> *The State Water Resources Control Board Loan balance of$9,979,419 is included in the Beginning Fund Balance
<br /> and excluded from Actual Revenues.
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