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Table 4. Operating Transfers
<br /> FY 2017/18
<br /> FY 2014115 FY 2015/16 FY 2016/17 Original Adjustments Mid-Year
<br /> Operating Transfers Actual Actual Actual Budget (Decreases) Budget
<br /> OPERATING TRANSFERS IN-From•
<br /> Urban Forestry Fund(1/2 of Landscape Arch Assist) $20,798 $7,500 $19,000 $19,000 $19,000
<br /> Retiree Medical Fund(Implied Subsidy) 588,870 681,000 637,000 695,000 695,000
<br /> Happy Valley Infrastructure Loan Repayment 32,076 68,413 135 -
<br /> Golf Loan Repayment 201,073 287,046 112,000 79,743 79,743
<br /> OPERATING TRANSFERS OUT-To:
<br /> CIPR (1,300,000) (6,893,218) (5,004,589) (5,195,725) (5,195,725)
<br /> Senior&Low Income Water&Sewer Discounts
<br /> Water Fund (202,509) (221,699) (214,577) (237,000) (237,000)
<br /> Sewer Fund (100,805) (107,105) (91,081) (103,000) (103,000)
<br /> Transit Fund(Subsidy) (386,713) (354,359) (339,725) (381,981) (381,981)
<br /> Storm Drain Fund(Subsidy) (330,000) (330,000) (330,000) (330,000) (330,000)
<br /> Cemetery Fund(Subsidy) (30,000) (30,000) (44,700) (45,000) (45,000)
<br /> Repayment to Retiree Med Fund for Golf Debt (588,870) (681,000) (776,000) (695,000) (695,000)
<br /> PERS Rate Stabilization&CERBT (1,708,218) (4,291,951) (2,122,688) -
<br /> Downtown Parking Fund (67,500) -
<br /> LED CEC Loan Repayment (95,000) (100,000) (190,628) (190,628) (190,628)
<br /> NET OPERATING TRANSFERS ($3,966,798) ($11,965,373) ($8,345,853) ($6,384,591) $0 ($6,384,591)
<br /> As described in Table 4 above, there are no proposed adjustments to Operating
<br /> Transfers in the Midyear Budget.
<br /> General Fund Reserves and Fund Balance - Recommended adjustments to General
<br /> Fund Reserves is as shown in Table 5. City fiscal policy requires a minimum reserve
<br /> equal to 20% of operating expenses. At the close of FY 2016/17, the City Council
<br /> approved allocating approximately $1.8 million to General Fund reserves that brought
<br /> the operating reserve equal to 22% of actual FY 2016/17 operating expenses. As
<br /> previously noted, staff proposes to maintain the operating reserve equal to 22% of
<br /> operating expenses. Twenty-two percent of the $109,380,758 operating expenses
<br /> proposed in the FY 2017/18 Midyear General Fund operating budget is $24,063,767 or
<br /> $1,476,974 more than the actual starting FY 2017/18 fund balance.
<br /> Table 5. Recommended Adjustments to General Fund Reserves
<br /> General Fund Recommended FY 2017/18
<br /> Fund Balance Balances as of FY 2017/18 Mid-Year
<br /> Reserve Designations June 30,2017 Adjustments Budget
<br /> General Fund Reserve $22,586,793 $1,476,974 $24,063,767
<br /> Enterprise Funds
<br /> Water Operations and Maintenance Fund -As shown in Table 6, recommended
<br /> changes to the Water Operations and Maintenance Fund include a net increase of$2
<br /> million in expenditures and an increase of $4.3 in revenues. The increased revenues
<br /> are related to increased water usage as a result of the drought. There is a
<br /> corresponding increase in expenditures related to Zone 7 water purchases of$1.7
<br /> million. In addition, there is a total of$0.4 million increase in other expenses for salary
<br /> adjustments approved in October of 2017, recycled water supplies, travel and training
<br /> expenses and electricity. Finally, there is a decrease of approximately $3 million in net
<br /> transfers reflecting transfers-in from the Water Debt fund to make the next payment to
<br /> DERWA for the City's portion of the recycled water plant project.
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