SR 05:300 - Laserfiche WebLink

The Streets CIP Funds ended the year with a favorable variance of actuals (plus carryovers) to budget of$357,145. The favorable variance was due to Measure B revenue being $39,653 more than projected, Gas Tax revenues being $39,625 more than projected and interest income being $254,132 more than projected. Also, the reimbursement to the General Fund had a $23,735 favorable variance. Revenue projections have been amended in the fourth quarter to reflect additional revenues received from outside sources, such as reimbursements from other agencies and developer contributions. This includes the Dougherty Valley Mitigation Project reserve ($112,750), the Reimbursement from Livermore for 1580 Corridor ($64,301), and contributions from utility companies for undergrounding First Street utility lines ($147,500). While the attached worksheets in Appendix E reflect a number of project transfers/changes in the Quarter 4 Amendment column, staff reports have already been approved by Council for the items in italics. The project additions that have not been approved by Council all have corresponding increases in Revenue to offset them. They include Dougherty Valley Mitigation Project reserve ($112,750), First Street U-Undergrounding ($147,500), 1580 Corridor Management ($34,405) and Vineyard Corridor Improvements ($1,330). STREETS Total Budgeted Ending Fund Balance $ 2.061,459 Plus Revenue Transfer Fwd" 302.281 Projected Ending Fund Balance $ 2,363,740 Actual Fund Balance after Carryovers $ 2.720,885 Variance favorable/(unfavorable) $ 357.145 *revenue received in FY05 that by policy is not budgeted for use until FY06 SR 05:300 20