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Table 11. Repair & Replacement Funds - Amended Budget vs. Actual
<br /> FY 2017/18 FY 2017/18
<br /> Repair & Replacement Funds Midyear Actual Variance Variance %
<br /> Beginning Fund Balance $22,751,315 $22,751,315 $0 0%
<br /> Plus Revenues 4,775,654 4,864,344 88,690 2%
<br /> Less Net Transfers (1,909,963) (1,757,963) 152,000 -8%
<br /> Less Expenditures (6,105,663) (3,610,117) 2,495,546 -41%
<br /> Ending Fund Balance 19,511,343 22,247,579 2,736,236 14%
<br /> Change in Fund Balance ($3,239,972) ($503,736) $2,736,236 -84%
<br /> Self-Insurance Fund. The Self Insurance Fund accounts for losses and liabilities
<br /> related to lawsuits and public liability insurance claims and deductibles. The General
<br /> Fund currently funds a majority of the annual revenue to this fund based on claims
<br /> activity. The claims activity is reflected in Table 12 increased substantially from prior
<br /> fiscal years as well as since the FY 2017/18 Midyear budget. There were a few
<br /> expensive claims that the City settled in FY 2017/18 as well as $287,000 in outstanding
<br /> claims that the City received in FY 2017/18 that are included as outstanding liabilities
<br /> under expenditures. As a result, as described in Table 12. the Self-Insurance Fund
<br /> ending fund balance is $4.4 million or $300,218 less than anticipated in the Amended
<br /> Budget.
<br /> Table 12. Self-Insurance Fund — Amended Budget vs. Actual
<br /> FY 2017/18 FY 2017/18
<br /> Self Insurance Fund Midyear Actual Variance Variance %
<br /> Beginning Fund Balance $5,166,449 $5,166,449 $0 0%
<br /> Plus Revenues 1,150,000 1,165,161 15,161 1%
<br /> Less Expenditures (1,625,000) (1,940,379) (315.379) 19%
<br /> Ending Fund Balance 4,691,449 4,391,231 (300,218) -6%
<br /> Change in Fund Balance ($475,000) ($775,218) ($300,218) 63%
<br /> Page 10 of 11
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