SR 06:259 - Laserfiche WebLink

Workers' Compensation reserve. Additional funding may still be necessary and will be reviewed in the next two-year budget cycle. Emolovee Benefit Fund The Employee Benefit Fund (EBF) is used to account for non-salary employee costs. The departments' budgets are charged for benefit expenses as a percent of salary, and the dollars then flow to the EBF, where the actual costs are recorded. For FY 2205-06, benefit costs were under budget by $161,000, and revenues exceeded projections by $311,000, primarily because contributions from the Operating Funds exceeded estimates. Thus net income is $472,000 greater than projected for FY 2005-06. It was anticipated that for FY 2005-06, the Fund would draw down $260,000 of its reserves leaving a $185,000 fund balance. Instead, the ending fund balance is now $657,000. This fund balance could be used to smooth future budgets or provide funding for Workers Compensation or Retiree Medical liabilities. Uses for the fund balance will be examined as part of the next two-year budget process. ALL OTHER OPERATING FUNDS For the most part, budget variances are small for the other Operating Funds. Most of the Landscape District Funds and Geologic Hazard District Funds were slightly under budget, with expenditures less than budgeted. The exception was the Laurel Creek Geologic Hazard District that had relatively significant additional revenue ($28,000) due to Kolb Ranch becoming part of the district. The Lower Income Housing Fund net income was close to budgeted amounts after significant carryovers for both revenue and expenditures. Revenue carryovers of $290,000 include a $390,000 HELP loan not received in FY 2005-06 and a $100,000 revenue reduction for housing fees collected in FY 2005-06 though budgeted for FY 2006-07. Expenditure carryovers of $611,000 include $470,000 for the down payment loan assistance program (funded by the State with a match from the City) and $111,000 for the Kottinger Development Study. The Recycling and Waste Management Fund actual revenue exceeded budget by $156,000 during the year. Staff will analyze the Measure D funding received during the year to determine if FY 2006-07 revenue should be adjusted. For all other Operating Funds, budget to actual variances are small. Therefore staff is recommending only a few minor budget changes, as outlined in Appendix A. SR 06:259 11