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The Water CIP Funds ended the year with a favorable variance of actuals (plus <br />carryovers) to adjusted budget of $218,696. Three items make up this difference. <br />There was $127,435 less City staff time spent on water projects than projected, debt <br />payments were $10,973 less than expected and interest income was $80,288 more <br />than expected. <br />Quarter Four Adjustments: Council is being asked to approve the $90,320 transfer from <br />project #041011 to project #061011 (both projects are "Annual Control Valve <br />Installations"). The other transfers between projects during quarter four have already <br />been approved by Council. <br />WATER <br />Tnfal <br />Budgeted Ending Fund Balance $ 6,364,251 <br />Add back Developer Revenue 154,020 <br />Projected Ending Fund Balance $ 6,518,271 <br />Actual Fund Balance after Carryovers 6,736,967 <br />Variance favorable/(unfavorable) $ 218,696 <br />The Miscellaneous CIP Funds ended the year with a favorable variance of actuals <br />(plus carryovers) to adjusted budget of $191,194. Two items make up this difference. <br />Debt payments were $61,589 less than expected and interest income was $129,605 <br />more than expected. <br />Quarter Four Adiustments: Council is being asked to approve the $16,720 decrease in <br />estimated State grant revenue for the Bernal Fire Station Photo Voltaic Grant based on <br />updated information staff has received from the State. The $61,914 transfer from <br />project #028006 "Downtown Specific Plan Improvements" to the "Delucchi Park <br />Downtown Restrooms" project in the PARKS CIP was already approved by Council in <br />quarter four. <br />MISC <br />Tnfal <br />Budgeted Ending Fund Balance $ 1,138,280 <br />Add back Developer Revenue 426,326 <br />Projected Ending Fund Balance $ 1,564,606 <br />Actual Fund Balance after Carryovers 1,755,800 <br />Variance favorable/(unfavorable) $ 191,194 <br />Page 3 of 5 <br />