22 - Laserfiche WebLink

SUMMARY OF MAJOR EXISTING FACILITY RESERVE PROJECTS FUNDED PREVIOUSLY (Continued) Firehouse Arts Center $8,150,000 Currently in design phase with active communi fundraisin in ro ress. Happy Valley Bypass Road $1,000,000 The City has recently reviewed the Blue Ribbons Committee's recommendation. Library and Civic Center Master Plan $2,450,000 The Library Existing Conditions Assessment (including potential for a permanent and Expansion/Relocation Report will be ACE Station, TOD on SF Pro a resented to the Council later this calendar. Lions Wayside Park Design $250,000 Project provides for park design concurrent with develo ment of the Firehouse Arts Center South Pleasanton Park $400,000 This funding will be redirected to another park ro' ect. TOTAL $28 325 000 *Does not include the $3,800,000 North Pleasanton and/or Downtown Improvement Reserve being established as part of this CIP. Based on project funding/status described above, the CIP reflects both community expectations, Council priorities, and staff identified needs. Nevertheless, as with previous CIP's, not all projects can be funded. However, staff is confident that this program appropriately addresses the community's highest priorities. II. PROGRAM FINANCIAL OVERVIEW A summary of available annual financial resources (including beginning balances) and recommended annual expenditures is listed in the tables below. Summary financial tables showing all recommended projects and available funding are included at the end of this section. All project expenditures and revenues segregated by source are included in the detailed financial tables located in the Appendix. As approved as part of the 2005-06 CIP, development fee revenue including the Public Facilities, Traffic Impact, In Lieu Park Dedication and Water and Sewer Connection Fees, are recorded on a calendar year basis. Using this approach assures that revenue is collected prior to programming for a specific project. In addition, because the Planning Department has historically tracked development activity on a calendar year basis, this practice eliminates the need to convert this data to a fiscal year resulting in greater accuracy. However, this process is contrary to other portions of this CIP, including all expenditures, and the City Budget that are tracked on a fiscal year basis. Other revenues, such as gas taxes, grants, and General Fund, are projected based on staff estimates in the year they are expected to be received. As indicated previously, staff utilizes the Mid-Term CIP to make any adjustments necessary to address fluctuations in estimated revenues or project expenditures that assures the CIP accurately reflects project development.