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Operating and Capital Transfers
<br /> Operating transfers to the General Fund include a transfer from the Retiree Medical Fund ($893,000
<br /> in FY 2021/22 and $900,000 in FY 2022/23) to return the implied subsidy paid by the General Fund on
<br /> retirees'medical premiums3. In addition,to balance the FY 2022/23 budget,there is a transfer-in of
<br /> $2.5 million from the Rainy Day Fund that is more than offset by the$2.7 million transfer-out to the
<br /> Rainy Day Fund in FY 2021/22,leaving a balance of $5.3 million available to balance future General
<br /> Fund budgets.
<br /> Operating transfers from the General Fund include operating subsidies to the Transit Fund, Storm
<br /> Drain Fund,and the Cemetery Fund.There are also transfers from the General Fund to the Water
<br /> and Sewer Funds to fund the senior and low-income water and sewer discounts. Under Proposition
<br /> 218, one classification of water customers cannot subsidize another; therefore,if a City desires
<br /> to provide senior and low-income discounts to their customers they must fund the discounts
<br /> through the General Fund of the City. Finally,there is a transfer from the General Fund to the Capital
<br /> Improvement fund to fund the City's Capital Improvement Program (CIP).The General Fund transfer
<br /> to the Capital Improvement Fund is $2.5 million in FY 2021/22 and $5 million in FY 2022/23 to address
<br /> capital project funding requirements.
<br /> Actual Adjusted Projected jected
<br /> Operating Transfers FY 2019/20 FY 2020/21 FY 2021/22 Yro2022/23
<br /> OPERATING TRANSFERS IN - From:
<br /> Urban Forestry Fund(1/2 of Landscape $25,000 $25,000 $25,000 $25,000
<br /> Architecture Assistant)
<br /> Retiree Medical Fund(Implied Subsidy) 1,006,000 1,050,000 893,000 900,000
<br /> Happy Valley Infrastructure Loan Repayment
<br /> 129,068 31,780 31,780 31,780
<br /> from Golf
<br /> Rainy Day Fund - - - 2,512,760
<br /> OPERATING TRANSFERS OUT - To:
<br /> CIP&CIPR (2,590,482) (1,500,000) (2,500,000) (5,000,000)
<br /> Senior&Low Income Water&Sewer Discounts
<br /> Water Fund (266,729) (250,000) (250,000) (250,000)
<br /> Sewer Fund (98,123) (110,000) (110,000) (110,000)
<br /> Transit Fund(Subsidy) (70,204) (216,717) (171,893) (267,881)
<br /> Storm Drain Fund(Subsidy) (330,000) (330,000) (625,000) (625,000)
<br /> Cemetery Fund(Subsidy) (50,000) (50,000) (50,000) (50,000)
<br /> Repayment to Retiree Med Fund for Golf Debt (1,006,000) (1,050,000) (893,000) (900,000)
<br /> LED CEC Loan Repayment (190,628) (190,628) (190,628) (190,628)
<br /> Rainy Day Fund (3,545,578) (3,852,975) (2,734,757)
<br /> Total ($6,987,676) ($6,443,540) ($6,575,498) ($3,923,969)
<br /> Retirees who participate in one of the City's medical plans along with active employees are receiving lower medical premiums because the
<br /> active employees are on average younger and healthier than retirees and therefore helping to keep medical rates low for the retirees since it is a
<br /> pooled health plan.That difference is calculated as an implied subsidy.
<br /> 37 City of Pleasanton Operating Budget • FY 2021/22 - FY 2022/23
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