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Mr. Bocian said $1,981,000 is a general reserve for the Bernal Property and not designated for any specific project. He noted that staff separated the two accounts so that there is one reserve account specifically for the Bemal Community Park and one reserve account specifically for the remainder of the property. Ms. McGovern noted that the $4,056,004 reserve is less than the plans for Phase I of the Community Park that Council was considering. She asked if an adjustment would be made to meet the $4.3 million dollar estimate. Ms. Rossi noted that the reserve amounts that are reflected in Appendix A were for last fiscal year (2003-04). There is a current year reserve budget in addition to this. She mentioned that the next report staff will present to Council will be for the first quarter of fiscal year 2004-05, which will reflect last fiscal year's carryovers. Ms. McGovern asked if funds set aside for the Happy Valley Bypass Road would be reflected in the 2003-04 Capital Improvement Program? Ms. Rossi said the reserve funds would be segregated depending upon the availability of money for the current fiscal year versus prior fiscal years. Ms. McGovern seemed to recall that one million dollars was set aside for the bypass read. Mr. Fialho pointed out that there is a one million dollar reserve for the bypass read in the Streets Projects section of Appendix A. Mr. Brozosky mentioned that a developer made a contribution to the Happy Valley infrastructure. He asked where these funds were reflected. Ms. Rossi recalled that the developer contributed $500,000 and the City had added an additional $500,000 for a total of one million dollars. Mr. Brozosky referred to the Street Projects section of Appendix A and asked if the developer had reimbursed the City for the Signature Properties for Bernal/Vineyard Avenue projects? Ms. Rossi noted that the actual revenues were higher than originally reflected in the Capital Improvement Program budget. Staff has increased the revenue for this project by $262,617. She noted that the expenditure portion of Appendix A adjusts the budget by an approximately equivalent amount. Staff balances the budget as it receives the revenues. Mr. Brozosky referred to the Street Projects section of Appendix A regarding the El Charro Interchange Study. He recalled that the previous Council had approved this study, which was to be coordinated with the City of Dublin. Ms. Rossi said that as the City receives money from the City of Dublin, staff increases the appropriation for this project so that there is no impact on the fund balances. She noted that if there were a change on the expenditure side it would be reflected on the revenue side. Pleasanton City Council 11 01/18/05 Minutes