|
City of Pleasanton Capital Improvement Program • FY 2023/24 - FY 2026/27 10
<br />III. SUMMARY OF THE MAJOR REVENUE SOURCES
<br />Beginning Balances
<br />Initial beginning balances are based on FY 2022/23 estimated ending fund balances that will be
<br />available July 1, 2023. Subsequent beginning fund balances are a combination of prior year begin-
<br />ning fund balances plus estimated revenues less expenditure allocations. The estimated beginning
<br />balance, representing the unappropriated amount not counting existing project reserves, for all proj-
<br />ect categories for this CIP is $47.9 million. While the beginning balances represent funds that have
<br />not been specifically appropriated, each beginning fund balance reflects individual funds within
<br />each CIP project category and as such, portions of the fund balances are restricted and earmarked
<br />for specific future uses.
<br />As part of the Capital Budget and CIP development process, staff examined the current fiscal year
<br />capital budget for all the existing projects and identified a series of budget adjustments based on re-
<br />vised revenue projections and project priorities. These recommended adjustments, presented to the
<br />City Council at the March 21, 2023 meeting, focused mainly on capital projects funded by the General
<br />Fund. Included in the Proposed Capital Budget and CIP is a comprehensive set of recommended
<br />adjustments for other capital funds. It should be noted that fund balance calculations account for
<br />these recommended adjustments. A detailed list of currently funded capital projects, along with
<br />recommended adjustments, can be found in Appendix A.
<br />State and Local Gas Tax and Highway Related Revenue
<br />Gas Taxes and highway related revenue are used for street repairs and improvements and placed in
<br />the Transportation and Streets section of the CIP. In addition to the Gas Tax collected annually from
<br />the state gas taxes, this CIP includes funding from Measure BB, Measure F Vehicle Registration Fee
<br />(VRF) Program, and grants. Gas Tax revenues are allocated annually to cities on a statewide alloca-
<br />tion formula, which is based primarily on population. These funds, which can be used for new con-
<br />struction or repair and maintenance of existing street systems or street lighting, are determined by
<br />the amount of gas sold in the state. A summary of Transportation and Street related revenue antici-
<br />pated during the first two years of this CIP is detailed below.
<br />In general, ongoing street maintenance revenues including Gas Tax, Measure BB, and Measure F,
<br />are expected to remain the same over the next four years. The table below details all street mainte-
<br />nance, bicycle, trails, and pedestrian funds, excluding interest income, development fees and begin-
<br />ning balances included in the CIP.
<br />SUMMARY OF ROADWAY, BICYCLE, TRAILS, AND PEDESTRIAN FUNDING
<br />Fund Source FY 2023/24 FY 2024/25 FY 2025/26 FY 2026/27 Total
<br />Measure BB Bike & Pedestrian $491,856 $501,693 $511,727 $521,961 $2,027,237
<br />Measure BB Streets & Roads 1,791,549 1,827,380 1,863,928 1,901,206 7,384,063
<br />Measure F 380,459 388,068 395,830 403,746 1,568,103
<br />Gas Tax 4,212,921 4,398,332 4,544,126 4,703,250 17,858,629
<br />Total $6,876,785 $7,115,473 $7,315,611 $7,530,163 $28,838,032
|