RES 93108 - Laserfiche WebLink

is intended to reflect the typical use for each category of business. It has been determined by experience over the last few years that the coefficient the City used for office space overestimated the actual usage for office type businesses. Therefore, the committee will be recommending to the City Council and the DSRSD board that a program of refunds or credits for excess sewage capacity purchased be implemented. If such a program is implemented, the City would need to refund up to $200,000 from local sewer connection fees collected in prior years. Therefore, the beginning 1993/94 Sewer Expansion Fund balance has been reduced for the purpose of determining available funds for 1993/94 CIP projects. TRANSFERS FROM THE GENERAL FUND The program includes a net transfer of approximately $8,796,553 from the General Fund during the five years of the program. These funds will be used to pay for a variety of projects including the replacement of equipment and debt service payments for existing and proposed facilities. A distribution of General Fund contributions over the five years of the program is as follows. GENERAL FUND CONTRIBUTIONS 1993/94 1994/95 1995/96 1996/97 1997/98 TOTAL $4,237,600 $2,084,417 $724,621 $871,948 $877,967 $8,796,553 The 1993/94 Miscellaneous Program includes $2.2 million in General Fund money being expended as part of the City's share of the Harvest Park Gym, with an additional $500,000 coming from development fees. The $2.2 million was set aside over a period of two years from one time revenue sources. Most of this funding was derived from a change in the business license tax year, and one-time sales tax audit adjustments. Also included in the 1993/94 Miscellaneous CIP is $1,000,000 for improvements to the City's radio system. The General Fund is contributing $700,000 towards this project, with the remaining $300,000 coming from development fees. The $700,000 resulted from a one-time gain on the sale of City investments that had previously been dedicated to debt service for the City's share of the Stoneridge Mall Road and overpass. As part of the transaction, the bonds were called and the City's obligation was fullfiled. A $750,000 transfer in FY 1994/95 to offset the cost of the proposed Fire Station #4 is also made available from this source. Because the General Fund receives a substantial portion of its revenue from property and sales tax, it is subject to the same general economic fluctuations which affect the overall economy. As a result, it is difficult to project with complete accuracy the amount of revenue that will be available to the City's General Fund in any given year. In recognition of this condition, staff will carefully review estimated General Fund revenues and required expenditures as part of its preparation for the City's annual operating budget. If it is determined that General Fund revenues are insufficient to meet all of the Capital Projects included in this program which are scheduled to be funded from the transfers from the General Fund, staff will reevaluate the proposed capital projects and provide the City Council with recommendations relative to project adjustments. vii