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CAPITAL IMPROVEMENT PROGRAM BUDGET <br />The worksheets on pages D-1 through D-9 in Appendix D reflect recommended Quarter <br />3 2006-07 amendments to the CIP budget. Appendix E shows what the adjusted CIP <br />budget will look like after these amendments are adopted. <br />• With regards to the Quarter 3 amendments recommended on pages D-1 through <br />D-9, it should be noted that all amendments that were already approved by the <br />City Council are shown in italics. <br />The Streets CIP on pages D-1 to D-3 reflects: <br />• An overall decrease in projected revenues from development fees and a <br />$292,000 increase in projected interest income earnings. The decrease in <br />projected development fees does not impact the current year as the use of those <br />fees is delayed until the next fiscal year. <br />• Transfers between projects due mostly to the close-out of completed projects <br />that were approved by the City Council. <br />• The overall $134,826 reduction in expenditures is primarily due to the removal of <br />most of the Street Lighting Upgrades project from the Streets CIP. This project is <br />now being funded through the Operating Budget's Street Light Replacement <br />Fund. <br />• The net effect of the Quarter 3 amendments is a $421,408 increase to the <br />estimated Streets CIP ending fund balance. <br />The Parks CIP on pages D-4 to D-5 reflects: <br />• A decrease in projected revenues from Park In-Lieu Fees and a $158,000 <br />increase in projected interest income earnings. The decrease in projected <br />development fees does not impact the current year as the use of those fees is <br />delayed until the next fiscal year. <br />• Removal of $100,000 grant funding for the Bernal Community Park, Phase I. <br />The City applied for the Land and Water Conservation Fund grant in April 2006 <br />but ultimately did not receive the grant award. <br />• The net effect of the Quarter 3 amendments is a $177,057 increase to the <br />estimated Parks CIP ending fund balance. <br />The Miscellaneous CIP on pages D-6 to D-7 reflects: <br />• A decrease in projected revenues from Public Facilities Fees and a $246,000 <br />increase in projected interest income earnings. The decrease in projected <br />Page 8 of 10 <br />