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61 City of Pleasanton Mid-Term Budget Update • FY 2022/23
<br />TABLE 4: FY 2022/23 Mid-Term CIP by CategoryTABLE 4: FY 2022/23 Mid-Term CIP by Category
<br />As indicated in Table 4 above, FY 2022/23 net adjustments equal $12.6 million. This includes an
<br />addition of $13.2 million and a reduction of $650,000 in projects. The proposed increases will require
<br />allocating additional funding to capital projects from CIP fund balances and reserves. A comparison
<br />of beginning fund balances is detailed below.
<br /> CIP Fund Balances and ReservesCIP Fund Balances and Reserves
<br />TABLE 5: Comparison of FY 2022/23 Ending Fund BalancesTABLE 5: Comparison of FY 2022/23 Ending Fund Balances
<br />
<br />As previously noted, the FY 2022/23 Mid-Term CIP amendments will be covered through the use
<br />of General Fund Transfers, CIP fund balances and reserves. As shown in Table 5 above, the CIP
<br />fund balances are expected to be reduced by $2.0 million overall, primarily as a result of reduced
<br />developmental impact fee revenue estimates and drought related impact.
<br />CONCLUSION CONCLUSION
<br />This Mid-Term review is intended to provide the City Council and the community with a
<br />comprehensive update/review of the City’s capital plan for FY 2022/23. When reviewing this budget,
<br />it should be noted that projected revenues are contingent upon activities of the private sector
<br />development community and other governmental agencies that are outside the control of the City.
<br />As a result, changes to assumptions included in the CIP are possible. Changes in revenue projections
<br />and/or project priorities may result in modifications to this program in upcoming fiscal years.
<br />However, as presented, this program identifies available revenues and expenditures for FY 2022/23 to
<br />ensure that the City is able to fund projects that meet the community’s needs and expectations.
<br /> CIP by Category
<br />FY 2022/23 Original
<br /> Expenditures &
<br />Reserves Adjustments
<br />FY 2022/23
<br />Total
<br />Allocations
<br />Miscellaneous $2,925,000 $12,293,500 $15,218,500
<br />Park 1,030,000 180,000 1,210,000
<br />Sewer 2,275,000 - 2,275,000
<br />Transportation 7,450,000 - 7,450,000
<br />Water 2,325,000 100,000 2,425,000
<br />Total $16,005,000 $12,573,500 $28,578,500
<br /> FY 2021/22
<br />Projected
<br />Fund Balance
<br /> FY 2022/23
<br />Mid-Term Difference
<br />Percent
<br />Difference
<br />Miscellaneous $12,261,609 $10,826,369 ($1,435,240)-11.7%
<br />Park 7,055,835 7,114,553 58,718 0.8%
<br />Sewer 6,353,698 5,008,967 (1,344,731)-21.2%
<br />Transportation 10,344,754 10,520,414 175,660 1.7%
<br />Water 8,008,758 8,531,807 523,049 6.5%
<br />Total $44,024,654 $42,002,110 ($2,022,544)-4.6%
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