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Regardless of the amount of one-time funding (if any) that may become available in future years, as the
<br />City approaches build-out, the amount of available development fee revenue will decline and the
<br />operating costs of these facilities will result in increased overall operating costs which will further
<br />impact the General Fund's ability to maintain CIP contributions. As a result, continuing to address the
<br />demand for new facilities will be challenging without new revenue sources. Further the development of
<br />the Bernal Property will require considerable revenues that will not be available from the sources used
<br />historically and may warrant consideration of other new revenue sources including a general obligation
<br />bond. As a result, staff will work with the Council and the community to address creative and new ways
<br />to meet facility needs to assure they are adequately addressed. Ultimately, the ongoing availability of
<br />"one-time" revenue is significantly dependent on the overall state of the economy, the actions of the
<br />State related to addressing its budget situation and the amount of one-time funding that becomes
<br />available to the General Fund. Staff will review this matter as part of the Mid-Term 2008-09 budget and
<br />will recommend changes as appropriate.
<br />The financial tables in the Appendix, provide detail on all General Fund contributions to individual
<br />projects.
<br />The table below illustrates the allocation of this funding in this CIP:
<br />CIP GENERAL FUND REVENUE*
<br />Source 2007/08 2008/09 2009/10 2010/11
<br />Annual Contribution $5,000,000 $5,000,000 $5,000,000 $5,000,000
<br />Mid-Term $0 $0 $0 $0
<br />One Time $2,000,000 $3,000,000 $0 $0
<br />TOTAL $7,000,000 $8,000,000 $5,000,000 $5,000,000
<br />CIP GENERAL FUND ALLOCATinNS*
<br />Fund 2007/08 2008/09 2009/10 2010/11
<br />Miscellaneous $5,650,000 $6,930,000 $3,975,000 $3,975,000
<br />Parks $400,000 $70,000 $75,000 $25,000
<br />Streets $950,000 $1,000,000 $950,000 $1,000,000
<br />TOTAL $7,000,000 $8,000,000 $5,000,000 $5,000,000
<br />Does not include beginning balances.
<br />North Pleasanton and/or Downtown Improvement Reserve
<br />Earlier this year, the City Council approved the replacement of a $3.8 million cash reserve with a surety
<br />bond for reassessment revenue refunding bonds issued by the Pleasanton Joint Powers Financing
<br />Authority in 2004 that releases the cash reserve to the City. As a result, the Miscellaneous section of the
<br />CIP includes $3.8 million in revenue in FY 2007-08 that is placed in the North Pleasanton and/or
<br />Downtown Improvement Reserve. There are not specific projects earmarked for this reserve at this time,
<br />however, as approved previously by the Council, staff will make a future recommendation for this
<br />funding in the near future.
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