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Table 1B - Sewer CIP Funds Budget Carryovers to FY 2020/21
<br /> PROJECTED FUND BALANCE, JUNE 30, 2020 $14,505,918
<br /> PROJECT CARRYOVERS:
<br /> Eals/Ears Ps And Pipeline 4,632,565
<br /> Sewer Capacity Evaluation 150,000
<br /> Scada Update Sewer 222,002
<br /> Rose Avenue Sewer Improvements 1,000,000
<br /> Nevada St Sewer Improvements 838,874
<br /> TOTAL PROJECT CARRYOVERS 6,843,441
<br /> ADJUSTED FUND BALANCE, JUNE 30, 2020 $7,662,477
<br /> Water CIP Funds
<br /> Table 2A summarizes the FY 2019/20 activity for the Water CIP Funds. Actual
<br /> revenues were greater than the amended budget by $1.6 million due to receipt of State
<br /> grant and loan proceeds as well as interest earnings. Actual expenditures were less
<br /> than the adjusted budget by $4.9 million. The expenditure variance is due to budgeted
<br /> projects not being completed during the fiscal year that have been carried forward to the
<br /> FY 2020/21 as presented in Table 2B.
<br /> Staff is recommending that Council approve:
<br /> • Increase transfers from Water and Recycled Water funds totaling $403,879 to
<br /> pay loan debt service in the Water CIP funds.
<br /> • Increase the revenue budget by $1,615,668.
<br /> Table 2A - Water CIP Funds Adjusted Budget to Actual Revenues, Transfers &
<br /> Expenditures
<br /> Year-End
<br /> Amended Budget Adjusted $
<br /> Water CIP Funds Budget Amendments Budget Actual Variance Variance
<br /> Beginning Fund Balance` $10,154,247 $10,154,247 $10,154,247
<br /> Re'enues 296,536 1,615,668 1,912,204 $1,912,204 - 0%
<br /> Transfers In/(Out) 3,630,000 403,879 4,033,879 4,033,879 -
<br /> Expenditures 8,427,387 (370,363) 8,057,024 3,116,016 (4,941,008) -61%
<br /> Ending Fund Balance $5,653,396 p 1,649,184 $8,043,306 $12,984,315 $4,941,008
<br /> *The State Water Resources Control Board Loan balance of$9,075,434.48 is excluded from the fund balance
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