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Table 5. Transfers In and Transfers Out -Amended Budget vs. Actual
<br /> FY 2020/21 FY 2021/22
<br /> Operating Transfers Actual Amended 1 Actual Variance
<br /> TRANSFERS IN - From:
<br /> Urban Forestry Fund (1/2 of Landscape
<br /> Arch Assist) $25,000 $25,000 ' $25,000 -
<br /> Retiree Medical Fund (Implied Subsidy) 765,000 893,000 826,000 67,000
<br /> Golf Loan Repayment 32,421 31,780 48,055 (16,275)
<br /> Happy Valley Infrastructure Loan
<br /> Repayment 468,220 -
<br /> Streets Developer Contribution Fund 442 (442)
<br /> TRANSFERS OUT -To:
<br /> CI P R (3,381,382) (7,137,549) (7,137,549) -
<br /> Senior& Low Income Household
<br /> Discounts -
<br /> Water Fund (283,252) (250,000) (271,481) 21,481
<br /> Sewer Fund (101,752) (110,000) (103,964) (6,036)
<br /> Transit Fund (Subsidy) (16,577) (171,893) - (171,893)
<br /> Storm Drain Fund (Subsidy) (330,000) (625,000) (625,000) -
<br /> Cemetery Fund (Subsidy) (50,000) (50,000) (50,000) -
<br /> Repayment to Retiree Med Fund for Golf
<br /> Debt (1,050,000) (893,000) (893,000) -
<br /> LED CEC Loan Repayment (190,628) (190,628) (190,628) -
<br /> Park CIP Fund (150,000) (250,000) (250,000) -
<br /> Storm CIP Fund (470,000) (475,000) (475,000) -
<br /> Street Developer Contribution Fund (72) 72
<br /> Rainy Day Fund (3,852,975) (2,734,757) (2,734,757) -
<br /> NET OPERATING TRANSFERS ($8,585,925) ($11,938,047) ($11,831,954) ($106,093)
<br /> General Fund Reserves. Table 6 below provides the breakdown of the different
<br /> reserves in the General Fund, as well as recommended adjustments. As previously
<br /> noted, a transfer of $950,000 to the Miscellaneous CIP Fund to continue building the
<br /> reserve for future capital projects and setting aside $280,000 in the new Mobile
<br /> Outreach Vehicle Program Reserve to fund program costs for FY 2023/24 are
<br /> recommended. Remaining surplus of approximately $8.1 million is recommended to be
<br /> kept in the General Fund to ensure its unrestricted fund balance is equal to two months
<br /> of FY 2022/23 operating expenses, or $22.9 million. Overall, the total General Fund
<br /> reserves will be just over $42.0 million.
<br /> Page 6 of 13
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