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GENERAL FUND TRANSFERS <br /> <br /> As mentioned earlier, staff is recommending that $500,000 (approximately the amount of the <br /> one-time PERS adjustment) be transferred to the Workers' Comp Fund and Retirees' Medical <br /> Fund. Staff is also recommending that $200,000 be transferred to the Facility Renovation Fund <br /> and $100,000 to the Data Processing Replacement Fund, to help build reserves to a more optimal <br /> level. <br /> <br />These additional transfers are needed because the Replacement Funds have been underfunded for <br />many years. In the upcoming two year budget, staff will continue to gradually increase <br />replacement funding, with the goal of reaching full funding within the next four years. Fully <br />funding replacement on an ongoing basis is a goal in the City's new Economic/Fiscal Element of <br />the General Plan. The intention is to fully recognize all costs annually, including the using up <br />(depreciation) of our assets, and to set aside money for replacement so that future generations will <br />not bear the burden. <br /> <br />Other recommended net transfers-out of approximately $28,000 will resuk in a net total of <br />$828,000 being transferred-out from the General Fund. <br /> <br />The recommended transfers are outlined in Appendix C (starting on page 23). <br /> <br />DISCUSSION OF GENERAL FUND EXPENDITURES <br /> <br />Salary_ Savings <br /> <br />Net salary savings as a result of not filling positions is estimated at $1.16 million. The budget <br />included an allowance of $400,000 for vacancies, therefore the net savings is $760,000. Vacancies <br />occurred in the Police, Fire, General Services, Personnel, City Manager, and Public Works <br />departments. <br /> <br />Overtime <br /> <br />Overall, overtime projections are being increased by $139,000. Overtime for Building, Planning <br />and Public Works is being increased by $80,000 as a result of building activity, and is reflected <br />and offset by fees. Police overtime projections are being reduced by $113,000 based on usage to <br />date, while Fire Department overtime projections are being increased by $150,000 to reflect <br />overtime coverage needed for vacancies and injuries. <br /> <br />SR97:110 6 <br /> <br /> <br />