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Table 10. Retirees Medical Reserve Funds - Amended Budget vs. Actual
<br /> FY 2019/20 FY 2019/20
<br /> Retirees Medical Reserve Fund Revised Actual Variance Variance%
<br /> Beginning Fund Balance $22,084,046 $22,084,046 $0 0.0%
<br /> Plus Revenues 5,173,061 5,176,610 3,549 0.1%
<br /> Less Net Transfers (88,000) (22,327,402) (22,239,402) 25272.0%
<br /> Less Expenditures (4,494,000) (4,423,154) 70,846 -1.6%
<br /> Ending Fund Balance $22,675,107 $510,100 ($22,165,007) 25270.5%
<br /> Change in Fund Balance $591,061 ($21,573,946) ($22,165,007) -25270.5%
<br /> Replacement/Renovation Funds. In accordance with the City's financial policies and
<br /> the General Plan, the City maintains various Replacement/Renovation Funds. The
<br /> purpose of these funds is to provide ongoing replacement of City equipment, vehicles,
<br /> traffic signals, streetlights, and to make major repairs/renovations to City facilities,
<br /> parks, and medians, in order to extend their useful lives.
<br /> Table 11 presents the activity in FY 2019/20 in these funds. As described in Table 11,
<br /> expenditures from the Repair and Replacement funds were $3.9 million less than
<br /> anticipated in FY 2019/20. All of the $3.9 million will remain in the Repair and
<br /> Replacement funds to be expended on projects and equipment replacements in the
<br /> future. In addition, revenues were $324,166 greater than budget due to interest
<br /> earnings and transfers out were $178,891 greater than budget to cover Repair and
<br /> Replacement funded projects in the CIP.
<br /> Table 11. Repair & Replacement Funds - Amended Budget vs. Actual
<br /> FY 2019/20 FY 2019/20
<br /> Repair&Replacement Funds Revised Actual Variance Variance%
<br /> Beginning Fund Balance $25,723,544 $25,723,544 $0 0.0%
<br /> Plus Revenues 5,143,000 5,467,166 324,166 6.3%
<br /> Less Net Transfers (2,163,280) (2,342,171) (178,891) 8.3%
<br /> Less Expenditures (8,630,148) (4,736,067) 3,894,081 -45.1%
<br /> Ending Fund Balance $20,073,116 $24,112,472 $4,039,356 -30.5%
<br /> Change in Fund Balance ($5,650,428) ($1,611,072) $4,039,356 30.5%
<br /> Workers Compensation Funds. There are two Workers Compensation funds: one for
<br /> the City of Pleasanton workers compensation expenses and liabilities and the other for
<br /> Livermore Pleasanton Fire Department's (LPFD) workers compensation expenses and
<br /> liabilities. While there is and has been sufficient cash in both funds ($4.5 million for the
<br /> City of Pleasanton and $4.6 million for LPFD) to cover actual Worker Compensation
<br /> expenses, the incurred but not expensed claims (Future Liability) causes both funds to
<br /> have negative fund balances. That said, as described in Tables 12 and 13 below, the
<br /> City's Claims Paid and Future Liability are greater than expected while LPFD's Claims
<br /> Paid is higher than expected by $39,117 and the Future Liability declined by $472,624.
<br /> Page 11 of 13
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