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The Parks CIP Funds ended the year with a favorable variance of actuals (plus <br />carryovers) to adjusted budget of $92,465. Two items make up this difference. <br />Measure B revenue was $12,328 more than expected and interest income was $80,137 <br />more than expected. <br />Quarter Four Adjustments: The $61,914 transfer from MISC CIP project #028006 <br />"Downtown Specific Plan Improvements" to project #038030 "Delucchi Park Downtown <br />Restrooms" project was already approved by Council in quarter four as was the <br />$100,000 increase in estimated grant revenues and expenditures for project #007065 <br />"Bernal Community Park Phase I". <br />PARKS <br />Tnfal <br />Budgeted Ending Fund Balance $ 449,003 <br />Add back Developer Revenue 785,496 <br />Projected Ending Fund Balance $ 1,234,499 <br />Actual Fund Balance after Carryovers 1,326,964 <br />Variance favorable/(unfavorable) $ 92,465 <br />The Streets CIP Funds ended the year with a favorable variance of actuals (plus <br />carryovers) to adjusted budget of $607,704. The primary reason for this positive <br />variance is that overall revenues were $695,241 higher than expected. Measure B <br />revenue was $50,093 higher, interest income was $109,589 higher, Dougherty Valley <br />mitigation fees were $49,500 higher, State Traffic Congestion fees were $19,179 higher, <br />City of Dublin reimbursements were $351,914 higher, reimbursements from PG&E for <br />undergrounding First Street utilities were $30,756 higher, developer contributions were <br />$102,927 higher, but State gas tax revenues were $18,717 lower than expected. <br />Overall expenditures were $87,537 more than expected. Increases in Vineyard Avenue <br />Specific Plan expenditures were partially offset by a decrease in City staff time spent on <br />NPID (North Pleasanton Improvement District) projects. <br />Quarter Four Adjustments: Council is being asked to approve an increase in State <br />Traffic Congestion revenues of $496,546. This revenue from the State was unexpected <br />and represents prior year collections by the State. Council is also being asked to <br />reduce grant revenues and grant expenditures by $3,946 for project #005017 "1580 <br />Corridor Management". All other changes in quarter four have already been approved <br />by Council. <br />Page 4 of 5 <br />