|
Streets CIP Funds
<br /> Table 5A summarizes the FY 2018/19 activity for the Streets CIP Funds. Actual
<br /> revenues were $563,371 greater than the adjusted budget primarily due to the following
<br /> revenues not received in FY 2018/19, most of which are expected to be received in FY
<br /> 2019/20: Traffic Impact Fees, Gas Tax, and interest earnings. Actual expenditures were
<br /> less than the adjusted budget by $39.7 million. The majority of the expenditure variance
<br /> is due to budgeted projects not completed during the fiscal year and the accumulation of
<br /> project reserves of $6.9 million all of which have been carried forward to the FY 2019/20
<br /> 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 ($87,914) to cover project
<br /> budgets that had exceeded budget.
<br /> Table 5A - Streets CIP Funds Adjusted Budget to Actual Revenues, Transfers &
<br /> Expenditures/Reserves
<br /> Recommended
<br /> Year-End
<br /> Amended Budget Adjusted $
<br /> Streets CIP Funds Budget Amendments Budget Actual Variance Variance
<br /> Beginning Fund Balance $30,668,435 $30 668 435 $30,668,435
<br /> Revenues 7,904,216 7,904,216 8,467,587 $563,371 7.1%
<br /> Transfers In/(Out) 6,263 561 6,263,561 6,260,609 (2,952)
<br /> ENdenditures 41,732,620 87,914 41,820,534 2,072,281 (39,748,253) -95.0%
<br /> Ending Fund Balance $3,103,592 ($87,914) $3,015,678 $43,324,350 $40,308,672
<br /> Table 5B - Streets CIP Funds Budget Carryovers to FY 2019/20
<br /> PROJECTED FUND BALANCE,JUNE 30, 2019 $43,324,350
<br /> REVENUE CARRYOVERS:
<br /> Bridge Improvements 547,005
<br /> Bicycle And Pedestrian Improvements 190,140
<br /> West Bound Bernal Ave @ 1St Street 135,000
<br /> Bernal Park And Ride Lot 136,000
<br /> TOTAL REVENUE CARRYOVERS $1,008,145
<br /> PROJECT CARRYOVERS:
<br /> 2nd Bridge Bernal/Laguna 2,683,573
<br /> W Las Positas/Tassajara Repair 325,230
<br /> Vineyard Corridor Improvements 30,673
<br /> Old Vineyard Ave Ped Trail Phi 133,902
<br /> Bridge Approach Roadway Repair 300,000
<br /> Hopyard/Owens Intersec Impr 1,795,572
<br /> Intersection Impr-Various (880)
<br /> 8
<br />
|