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Fund Balances
<br /> The City's Fund Balances represent accumulated funds available to be spent in the future.Of the
<br /> total $155.2 million in projected FY 2019/20 fund balances,approximately one third are reserves that
<br /> are required to satisfy the City's reserve policy for the General Fund,Enterprise Funds and Repair and
<br /> Replacement Funds .Fund balances in the Enterprise Funds, Internal Services Funds and Capital Funds
<br /> are expected to decline from FY 2018/19 as a result using fund balances to pay for capital projects and
<br /> replacement equipment.The reductions were anticipated and do not affect he City's ability to maintain
<br /> reserve levels consistent with the City's reserve policy. In addition,the Storm Drain fund balance
<br /> is expected to substantially decline as a result of adding temporary staff to perform storm drain
<br /> inspections.
<br /> Fund balances in the Special Revenue Funds are increasing by approximately 16 percent in both FY
<br /> 2019/20 and 2020/21 primarily as a result of the Lower Income Housing Fund.As described in the Budget
<br /> Summary,the Lower Income Housing Fund receives revenue from the affordable housing in lieu fee
<br /> assessed on commercial and residential development in the City.The City uses the Lower Income
<br /> Housing Fund to help support low income housing projects and activities. Because housing projects
<br /> require relatively large subsidies,the City builds up the fund balance in the Lower Income Housing Fund
<br /> to pay for future projects.
<br /> Fund Balances - All Funds
<br /> Actual Mid-Year Projected Projected
<br /> 2017/18 2018/19 2019/20 2020/21
<br /> General Fund* $27,982,987 $27,263,366 $28,022,890 $28,123,151
<br /> Enterprise Funds 19,330,489 22,787.074 21,013,362 19,706,290
<br /> Internal Services Funds 45,258,313 42,630,722 39,233,457 37,565,315
<br /> Special Revenue Funds 16,155,663 15,150,247 17,503,944 20,246,843
<br /> Trust Funds 418,301 383,646 348,991 314,336
<br /> Capital Funds 97,259,793 52,180,830 49,066,614 64,761,827
<br /> 'Includes$1.2 million reserved for LPFD Workers Compensation.
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