SR 05:300 - Laserfiche WebLink

SECTION III CAPITAL IMPROVEMENT PROGRAM (CIP) DISCUSSION The purpose of the second section of this report is to present the status of Capital Improvement Program (CIP) Funds as of the end of the fiscal year FY05, and to compare actual revenues and expenditures to projections for that year. Staff is also recommending Council actions relating to the transfer of funds between projects, the designation of Fund Balances, and the carryover of budgeted items from one fiscal year to the next, which are done each year as the final step in closing the books. The Sewer CIP Funds ended the year with a favorable variance of actuals (plus carryovers) to budget of $13,759. The majority of the difference was attributable to interest income, which was $99,167 more than projected. There was a favorable variance of $25,301 due to debt service savings and an unfavorable variance of $11 0,709 due to an increase in City staff time spent on sewer projects. SEWER Total Budgeted Ending Fund Balance $ 2.620.330 Plus Revenue Transfer Fwd' 71,136 Projected Ending Fund Balance $ 2.691,466 Actual Fund Balance after Carryovers 2.705.225 Variance favorable/(unfavorable) $ 13,759 *revenue received in FY05 that by policy is not budgeted for use until FY06 The Water CIP Funds ended the year with a favorable variance of actuals (plus carryovers) to budget of $211 ,653. The majority of the difference was attributable to interest income, which was $245,263 more than projected. There was a favorable variance of $23,282 due to debt service savings and an unfavorable variance of $56,892 due to an increase in City staff time spent on water projects. WATER Total Budgeted Ending Fund Balance $ 5.327.317 Plus Revenue Transfer Fwd' 234.000 Projected Ending Fund Balance $ 5.561.317 Actual Fund Balance after Carryovers 5.772.970 Variance favorable/(unfavorable) $ 211,653 *revenue received in FY05 that by policy is not budgeted for use until FY06 SR 05:300 18