RES 92218 - Laserfiche WebLink

should be ongoing. Therefore, staff will need to review the additional $300,000 to determine how much of it will be ongoing, and adjust the 1992-93 sales tax revenue projections accordingly. In total, 1991-92 General Fund current year and one-time revenues were $33.5 million which was $650,000 (2%) more than projected. Expenditures were $30 million. After setting aside a reserve for budget carryovers from 1991-92 into 1992-93 as detailed in Appendix F, expenditures were $570,000 less than budgeted, a 1.8 % variance. The difference is primarily attributable to the decision to leave some personnel vacancies unfilled. The following table shows the difference between budgeted and actual personnel costs: ACTUAL Employee Services Costs $23,012,704 $22,707,749 $(304,955) Many departments experienced vacancies during the year, including Public Works, Parks, Police and Planning. However, at midyear, adjustments were made to their budgets to reflect the salary savings. These savings were then added to the temporary Recession Reserve. Additional salary savings accruing since Midyear include: Police - Regular salaries $150,000, temporary salaries, $63,000, and overtime $44,000; Parks - Regular and temporary salaries $57,000. Other savings are reflected in Transportation and Training - $64,000; Repairs and Maintenance - $82,000; Reimbursable expenditures - $125,000; Contract Services - $84,000; and Printing costs - $42,000. Liability insurance and claims costs were $672,000. The original budget shows $500,000 coming from the General Fund and up to $200,000 from Self-insurance Retention Fund reserves. However, a recent actuarial study recommends that the reserves not be reduced. Therefore, staff is recommending that the entire $672,000 be funded from the General Fund without drawing down insurance reserves, as is shown in the General Service Department expenditures. The Water and Sewer Funds are charged their proportionate share accordingly through the administration overhead transfer. This change is already reflected in the numbers presented. The General Fund ended the fiscal year 1991-92 with $1.4 million more than anticipated (after carryovers). Staffis recommending that this $1.4 million be used primarily for the Harvest Park gym, as described in more detail later in this report. The total General Fund balance as of June 30, 1992 is $5.8 million. With this balance, staff recommends that Council establish the following specially designated reserves: $ 519,294 2,134,623 3.134.050 $5.787.967 Reserve for encumbrances (carryovers) Recession Reserve (temporary) 10% Reserve for Economic Uncertainties (established annually) Total Reserves SR 92:432 5