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Table 6. General Fund — Fund Balance Ending Fund Recommended Ending General Fund Balances at Year-End Fund Fund Balance 6/30/2022 Adjustments Balance Unrestricted General Fund Reserve 24,156,995 (1,230,000) $22,926,995 COVID Response & Recovery Reserve 399,150 - 399,150 Crisis Response Program Reserve 800,000 - 800,000 Mobile Outreach Vehicle Reserve - 280,000 280,000 Restricted General Fund Reserve (PARS Trust Fund) 17,625,110 - 17,625,110 Total General Fund Reserves* $42,981,255 ($950,000) $42,031,255 *Numbers presented in this table are based on the adjusted FY 2021/22 net surplus of$6,634,655. Enterprise Funds The City currently has six2 Enterprise Funds as follows: • Water/Recycled Water O&M Fund • Sewer Operations & Maintenance Fund • Callippe Preserve Golf Course Fund • Storm Drain Fund • Paratransit Fund • Cemetery Fund The Operating Budget only includes the Operations & Maintenance (O&M) and Debt Service expenses of these enterprises. Capital improvements and replacements for the Water, Sewer and Storm Drain funds are accounted for in the Capital Improvement Program (CIP). The financial results of the CIP will be presented to City Council in a separate report. Following are the results from the four largest enterprise funds: Water, Sewer, Cemetery and Callippe Preserve. Water and Sewer Operating Funds Water/Recycled Water Operations and Maintenance (O&M) Fund. As shown in Table 7, the Water Operating Fund ended FY 2021/22 with an operating fund balance of $11.0 million, which is $1.1 million higher than the amended budget. The $11.0 million equals 36.4 percent of the Water Fund's FY 2022/23 budgeted operating expenses. The operating reserve policy adopted by City Council in November 2016 requires reserves equal to between 30.0 percent and 40.0 percent of operating expenses with a target of 35.0 percent. Water revenues were approximately $0.3 million or 0.9 percent less than an estimate included in the amended budget due to actual water and recycled water sales coming in slightly lower than previously anticipated. On the expenditure side, water purchase costs from Zone 7 were approximately $0.8 million more than budgeted in FY 2021/22 due to less water being sourced from the city's local groundwater wells, and repair and maintenance costs also exceeded the amended budget by approximately $0.4 million. These increases were offset by savings in other categories, including more than $1.4 The Water Fund and Recycle Water Fund have been combined for presentation purposes in this report. Page 7 of 13