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Table 4. Operating Transfers
<br /> FY 2020/21
<br /> FY 2019/20 Adjusted Recommended Mid-Year
<br /> Operating Transfers Actual Budget Adjustments Budget
<br /> OPERATING TRANSFERS IN-From:
<br /> Urban Forestry Fund(1/2 of Landscape Arch Assist) $25,000 $25,000 $25,000
<br /> Retiree Medical Fund(Implied Subsidy) 1,006,000 1,050,000 1,050,000
<br /> Happy Valley Infrastructure Loan Repayment 129,068 31,780 31,780
<br /> OPERATING TRANSFERS OUT-To:
<br /> CIPR (2,590,482) (2,500,000) 1,000,000 (1,500,000)
<br /> Senior&Low Income Water&Sewer Discounts:
<br /> Water Fund (266,729) (250,000) (250,000)
<br /> Sewer Fund (98,123) (110,000) (110,000)
<br /> Transit Fund(Subsidy) (70,204) (216,717) (216,717)
<br /> Storm Drain Fund(Subsidy) (330,000) (330,000) (330,000)
<br /> Cemetery Fund(Subsidy) (50,000) (50,000) (50,000)
<br /> Repayment to Retiree Med Fund for Golf Debt (1,006,000) (1,050,000) (1,050,000)
<br /> LED CEC Loan Repayment (190,628) (190,628) (190,628)
<br /> Rainy Day Fund (3,545,578) (5,000,000) 1,147,025 (3,852,975)
<br /> NET OPERATING TRANSFERS ($6,987,676) ($8,590,565) $2,147,025 ($6,443,540)
<br /> General Fund Reserves and Fund Balance —As previously noted, Staff is proposing
<br /> to allocate $1,230,000 from General Fund reserves to the LPFD Workers Compensation
<br /> Fund, which results in General Fund reserves of $30.6 million. The City's reserve policy
<br /> requires a minimum reserve equal to 20 percent of operating expenses, a target of 25
<br /> percent and a maximum of 30 percent. The proposed General Fund reserve of $30.6
<br /> million equals 26 percent of the General Fund operating expenses.
<br /> Table 4. General Fund Reserves
<br /> Initial Year-End Ending
<br /> General Fund Balances at Recommended Fund
<br /> Fund Balance 6/30/2021 Adjustments Balance
<br /> General Fund Reserve $31,819,420 ($1,230,000) $30,589,420
<br /> Enterprise Funds
<br /> Water Operations and Maintenance Fund — As shown in Table 5 on the following
<br /> page, recommended changes to the Water Operations and Maintenance Fund include a
<br /> net decrease of $5,674 in expenditures and no change in revenues.
<br /> The net decrease in expenditures includes a $121,674 reduction in Personnel reflecting
<br /> attrition savings and reallocation of staff to the Sewer Operating Fund that is off-set by
<br /> the following increases: (1) $16,000 to cover Tyler Munis Utility Billing support, (2)
<br /> $25,000 for a new membership to ACWA, (3) $25,000 for additional rental generators
<br /> for use during power outages, and (4) $50,000 for PG&E rate increases.
<br /> The result of these adjustments is an increase of the net income of$1.9 million and an
<br /> estimated ending fund balance of $11.4 million which equals 40 percent of the total
<br /> operating expenses. The City's policy requires reserves equal to a minimum of 30
<br /> percent, a maximum of 40 percent and a target of 35 percent.
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