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II. PROGRAM FINANCIAL OVERVIEW
<br />
<br />A summary of available annual financial resources (including beginning balances) and recommended
<br />annual expenditures is listed in the tables below. Summary financial tables showing all recommended
<br />projects and available funding are included at the end of this section. All project expenditures and
<br />revenues segregated by source are included in the detailed financial tables located in the Section I of
<br />Appendix.
<br />
<br />As approved as part of the 2004-05 Mid-Term CIP, development fee revenue including the Public
<br />Facilities, Traffic Impact, In Lieu Park Dedication and Water and Sewer Connection Fees, are recorded
<br />on a calendar year basis. This approach, which is clearly marked on the detailed financial tables,
<br />provides a more conservative approach assuring that revenue is collected prior to programming for a
<br />specific project. In addition, because the Planning Department has historically tracked development
<br />activity on a calendar year basis, this change eliminates the need to convert this data to a fiscal year
<br />resulting in greater accuracy. Other revenues, such as gas taxes, grants, and General Fund, are projected
<br />based on staff estimates in the year they are expected to be received. As indicated previously, staff
<br />utilizes the Mid-Term CIP to make any adjustments necessary to address fluctuations in estimated
<br />revenues or project expenditures which assures the CIP accurately reflects project development.
<br />
<br />Notwithstanding the above, to reflect the City's contribution and requirement for the Bemal/I-680
<br />Interchange project, the CIP shows the transfer of Traffic Impact Fees to the Bernal Interchange account
<br />occurring in the year the fees are projected to be received. This practice reflects the City's contribution
<br />to this project. Costs in excess of these revenues will be advanced by Bernal Investment Company,
<br />LLC.
<br />
<br />The three tables listed below provide a general summary of revenues and expenditures by project
<br />category and major funding sources.
<br />
<br />Projected Available Annual Financial Resources*
<br />
<br /> FY 2005-06 FY 2006-07 FY 2007-08 FY 2008-09 TOTAL
<br />STREETS $4,571,572 $5,511,020 $5,686,615 $6,438,042 $16,646,447
<br />PARKS $3,324,580 $4,240,443 $3,378,475 $3,338,405 $14,220,738
<br />~IISCELLANEOUS $4,411,620 $3,219,219 $2,697,761 $2,369,138 $11,476,532
<br />~VATER $7,624,742 $8,801,321 $8,951,224 $9,927,436 $15,650,348
<br />]EWER $3,890,933 $2,960,945 $2,609,776 $3,330,143 $8,530,435
<br />FOTAL $23,823,447 $24,732,948 $23,323,851 $25,403,164 $66,524,500
<br />
<br />*To accurately reflect that mount of financial resources available each year by category, the above annual dollar amounts
<br />include all available resources for each year including beginning and recurring fund balances. However, the "total" column
<br />has been adjusted to reflect removal of these transfers and the recurring fund balances. As a result, the "total" colunm does
<br />not equal the sum of the individual years.
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