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Streets CIP Funds
<br /> Table 5A summarizes the FY 2016/17 activity for the Streets CIP Funds. Actual
<br /> revenues were less than the adjusted budget by $3.5 million primarily as a result of the
<br /> following revenues not received in FY 2016/17 most of which are expected to be
<br /> received in FY 2017/18: Traffic Impact Fees, Gas Tax, Measure B funds, and Grant
<br /> funds. Actual expenditures were less than the adjusted budget by $26.6 million. The
<br /> majority of the expenditure variance is due to budgeted projects not completed during
<br /> the fiscal year and the accumulation of project reserves of $5.9 million all of which are
<br /> being recommended to be carried forward to the FY 2016/17 as presented in Table 5B.
<br /> Staff is recommending through this Report that Council approve additional revenue
<br /> transfers out, and expenditure budget amendments totaling $50,958, $($321,421), and
<br /> $703;304 respectively, and budget carryovers to FY 2016/17 totaling $26.6 million as
<br /> shown in Tables 5A and 5B, respectively. The recommended budget amendments are
<br /> the following:
<br /> • Net increase in revenue budget of$50,958 to account for increased interest
<br /> earnings on fund balances.
<br /> • Decrease in net transfers in to account for the repayment of the Vineyard
<br /> Corridor Water Repair and Replacement Loan.
<br /> • Increase in expenditure budget of$703,304 primarily related to additional
<br /> developer fees received from the City of Dublin that were allocated to the
<br /> Dublin Reimbursement for Future Projects Reserve.
<br /> Table 5A -Streets CIP Funds Adjusted Budget to Actual Revenues, Transfers &
<br /> Expenditures/Reserves
<br /> 1 Recommended
<br /> Year-Ends
<br /> J. Amended -Budget:. Adjusted $• %
<br /> StreetsCIP Funds J Budget J Amendments Budget Actual' Variance Variance
<br /> Beginning Fund Balance $30,838,497 $30,838,497__$30,838,497
<br /> Revenues __ 15,477,079 __ $50,958_ 15,528,037_ 12,072,138 _($3,455,899) -22.3%
<br /> Transfers In/(Out) 775,000 (321,421) 453,579 453,579 0
<br /> Expenditures 35,953,990 703,304 36,657,294 10,019,943 (26,637,351) -72.7%
<br /> Ending Fund'Balance $11,136,586 ($973,767f$1.0,162,819 J $33,344,271 '$23,1'81,452 _-
<br /> Table 5B - Streets CIP Funds Recommended Budget Carryovers
<br /> PROJECTED FUND BALANCE,':JUNE`30, 2017 j' $33,344,271
<br /> REVENUE CARRYOVERS:
<br /> Transportation Development Act Grant For Bicycle and Pedestrian Paths 225,500
<br /> ACTC grant for Bicycle and Pedestrian Paths 25,000
<br /> _
<br /> OBAG Cycle Grant 411,051
<br /> Bridge Painting HBP Grant (Arroyo De Laguna) 156,679
<br /> Bridge Improvement HBP Grant (Various Locations) 1,274,442
<br /> Rule 20A Reimbursement 19,640
<br /> TOTAL_'REVENUE-.CARFtY0ERS ' F` " r ` 1' "$2 11 2 3,11.2'
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