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III. SUMMARY OF THE MAJOR REVENUE SOURCES Beginning Balances Beginning balances are developed based on revenue estimated to be available effective July 1, 2005. The beginning balance for all project categories for this CIP is $13,213,412. The beginning balances are derived from both available revenue from preceding years and from available development fee revenue collected calendar year 2004. An identification of beginning balances by revenue source is included in detailed financial tables located in Section 1 of the Appendix. State and Local Gas Tax and Highway Related Revenue Gas tax revenues are allocated annually to cities on a statewide allocation formula which is based primarily on a city's population. These funds, which can be used for new construction or repair and maintenance of existing street systems or street lighting, are determined by the amount of gas sold in the state. For the first two years of the program, the total gas tax projections are $1,292,500 for 2005-06 and 2006-07. A total of $5,170,000 is projected for the total four years of the CIP. This funding source should remain stable and is consistent with the estimates made in previous Programs, because gas taxes are subject to fuel consumption, staff estimates are subject to change. Also, while staff has not been informed of formula changes as part of the State budget process, future allocations may be subject to State's budget process. As a result, the budgeted amounts remain consistent in each CIP year. In addition to the gas tax, $3,128,000 is projected from Measure B revenue over the four years of the CIP. While Measure B is funded from sales tax, it is placed in this category to reflect its use for roadways. However, $660,000 of this amount will be used for trails and/or bike paths including potentially a pedestrian walkway from the Senior Center to the proposed Assisted Living Facility. Staff estimates that the City's 20% share of the Tri-Valley Transportation Development Fee will generate approximately $361,024 during the next four years of this program. This revenue has been included in the Tri-Valley Transportation Fees (Reserve) project as a means of segregating it from other traffic related revenue. The current balance of this fund is $721,599. Once this project has reserves sufficient to complete a significant project, staff will recommend the most appropriate use for the funding. Also, because this revenue is generated from sources outside of the City, the actual amount of revenue received is subject to change and outside the control of the City. ix