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development fees does not impact the current year as the use of those fees is delayed until the next fiscal year. • The net effect of the Quarter 3 amendments is a $245,925 increase to the estimated Miscellaneous CIP ending fund balance. The Water and Sewer CIP on pages D-8 to D-9 reflect: • A decrease in projected revenues from Water and Sewer Connection Fees and $158,000 and $44,000 increases in projected interest income earnings, respectively. The decrease in projected development fees does not impact the current year as the use of those fees is delayed until the next fiscal year. • A net increase in Vineyard Corridor Water Improvements expenses of $3,991,944 which will be repaid to the Water CIP in the future per 2/6/07 Agenda Report 206. • A $350,000 reduction in the SCADA Computer Hardware Upgrade project in the Water CIP. This project was approved and funded in a FY 05-06 agenda report and then it was also funded in the FY 06-07 Midterm CIP Budget. This quarter the duplication is being corrected. • A $61,322 increase in the Sewer CIP estimated revenues and expenditures for FEMA reimbursement for Emergency Repairs to Station 6. • The net effect of the Quarter 3 amendments is a $3,266,205 decrease to the estimated Water CIP ending fund balance and a $107,976 increase to the estimated Sewer CIP ending fund balance. After the recommended amendments are made to the CIP, the results are reflected in the Adjusted CIP budgets shown in Appendix E, on pages E-1 through E-9. Submitted by David P. Culver Director of Finance Attachments: Approv by: Nelson Fialho City Manager Page 9 of 10