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Miscellaneous CIP Funds <br /> Table 3A summarizes the FY 2017/18 activity for the Miscellaneous CIP Funds. Actual <br /> revenues were greater than the adjusted budget by $345,907 due to investment <br /> earnings exceeding budget by $227,468 and $222,086 in FEMA and state grants <br /> received to help fund storm repair projects that were not anticipated. These additional <br /> revenues were offset by a $103,647 shortfall in development impact fees. Actual <br /> transfers were $2 million less than the adjusted budget because $2 million from the <br /> Vintage Village developer contribution was reclassified to the Miscellaneous Developer <br /> Contribution Fund. Actual expenditures were less than adjusted budget by $22.9 <br /> million. The expenditure variance is due to projects not yet completed all of which have <br /> been carried forward to FY 2018/19 as presented Table 3B. <br /> Staff is recommending that Council approve budget adjustments totaling ($12,495) as <br /> shown in Table 3A all of which is related to minor cost overruns on four projects. <br /> Table 3A - Miscellaneous CIP Funds Adjusted Budget to Actual Revenues, <br /> Transfers & Expenditures/Reserves <br /> Recommended <br /> Year-End <br /> Amended Budget Adjusted $ <br /> Misc CIP Funds Budget Amendments Budget Actual Variance Variance <br /> Beginning Fund Balance 24,246,258 24,246,258 24,246,258 <br /> Revenues 702,178 702,178 1,048,085 $345,907 49.3% <br /> Transfers In/(Out) 4,591,095 4,591,095 2,547,516 (2,043,579) -44.5% <br /> Expenditures 24,061,882 12,495 24,074,377 1,146,756 (22,927,621) -95.2% <br /> ' <br /> 5 <br />