|
of the City's current level of debt, it is not possible to debt finance all new facilities using
<br />General Fund revenues alone for repayment. Historically, the City has paid cash for some
<br />projects such as the two middle school gyms. It has fully financed other pro'ects such as the
<br />OSC and the Police Facility. Sometimes the City has used a combination o~Jdebt and cash to
<br />fund a project, such as the Senior Center.
<br />Staff has identified future parks and facilities, required through buildout of the Ci , by using the
<br />CIP and the Master FaciliUes Plan documents. It is estimated that approximately ~i0 million
<br />will be needed over the next twenty years for parks and facilities not funded by new
<br />development. Potentially General Obligation or assessment bonds could be used to finance some
<br />of these facilities, with property owners making the debt payments. However, the balance will
<br />need to be funded by the General Fund at a cost of approximately one to three millions dollars
<br />annually (either in cash or lease purchase payments). Therefore, as part of the City's Ion term
<br />financial planning and budgeting, we should expect to continue to fund some portion of ~Umre
<br />capital projects from the General Fund annually.
<br />In 1995-96, the City transferred $100,000 form the General Fund Capital Reserve for advance
<br />costs in planning a potential Happy Valley Golf Course. These funds could be potentially
<br />reimbursable from a future bond sale if we proceed with the golf course.
<br />
<br /> General Fund Recommended Carryovers
<br />
<br /> The recommended additions to the Carryover Reserve will be used to rovide funding for
<br /> specific goods and services which were budgeted in 1995-96 but whi~cE had not been received or
<br /> completed by June 30, 1996. Similar reserves are recommended in the Water, Sewer and other
<br /> Operating Funds (see Ap endix D), and the Capital Improvement Funds (see Appendix E).
<br /> Approving these types oF;arryovers has been routinely done each year. These carryovers will be
<br /> reflected as amendments to the 1996-97 budget.
<br /> Recommended General Fund expenditure carryovers total $1.17 million. These carryovers
<br /> consist of $365,000 for goods and services for which commitments have been made. In
<br /> addition, as previously mentioned, staff is recommending a carryover of $155,000 for a limited
<br /> term building inspector and contract plan checking. Also included is $654,000 for Council
<br /> approved items that staff is recommending be done, but for which contracts/commitments have
<br /> not been finalized. These consist of $109,000 for the General Plan Update and San Francisco
<br /> land studies; $30,000 for com uterized Recreation class registration hardware; $25,000 for an
<br /> ADA (Americans with Disab~Yities Act) compliance consultant; $16,500 for improvements to the
<br /> Library's Heating and Air Conditioning system; $16,000 for business license hardware and
<br /> software; $32,000 for a property tax audit and revenue auditing software; $53,000 for the street
<br /> light acquisition consultant; $100,000 for an organizational analysis and maintenance
<br /> management software for Field Services; $31.000 for equipment and furnishings; $36,500 for
<br /> fire safety equipment including items for the new Ruby Hill station; $10,000 to develop a
<br /> cultural plan and $6,000 for Amador Theater equipment: $26,000 for community support and
<br /> communications (newsletter, interact, etc.); $30,000 loan for excursion train negative declaration
<br /> work by Alameda County; $36,000 for Animal Control services at the new Dublin facility;
<br /> $9,000 for contract training and training man.agement software; $18,000 for miscellaneous
<br /> contract services; $5,000 for engineering project accounting software; $12,000 for desi n and
<br /> printing of transportation brochures; $6,000 for an Economic Development video; and ~47,000
<br /> for additional City Hall space, which has previously been approved by Council.
<br /> In addition to the recommended $1.17 million in expenditure carryovers, a transfer-in carryover
<br /> of $40,000 is recommended from the Water and Sewer Operatin Funds to partially pay for the
<br /> Organization Analysis and Maintenance Management Software ~or Field Services. Also, staff is
<br /> recommending that the balance of $75,000 in the Traffic Engineering Program (which includes
<br /> street light costs) be carried over, and transferred to the Equipment Re lacement Fund, as the
<br /> first repayment for the street light acquisition loan. Furthermore, staffPis recommending that
<br />
<br /> 9
<br />
<br /> SR96:318
<br />
<br />
<br />
|