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In response to an inquiry by Mr. Brozosky, Mr. Fialho said $498,091 for the Kottinger Drive Storm Drain project was allocated to the beginning Fund Balance for the miscellaneous CIP category for fiscal year 2005-06. He pointed out that the beginning Fund Balance includes among other things, $498,091 that came from the Kottinger Drive Storm Drain project and has been programmed into the various recommendations before Council for fiscal year 2005-06 in the Capital Improvement Program. Mr, Bocian noted that staff meets to review projects that have left over funding or if the project is no longer being considered. When staff goes through this process, any remaining funds are transferred into the Fund Balance and funding is not distributed to other projects unless approved by Council. There was no public comment. It was moved by Mr. Sullivan, seconded by Mr. Thorne, to adopt Resolution 05- 052, a resolution amending the Operating Budget, as outlined in Appendix A, to reflect: an increase in revenue projections by $2,812,671; an increase in net transfers-in by $1,555,273 (offset by a transfer-out from the Housing Loan Fund to the Lower Income Housing Fund); to increase in expenditure appropriations by $2,396; and to amend the Capital Improvement Budget, aa detailed in Appendix B, to reflect an increase in revenue projections by $2,355,910 (includes an increase in "Transfer to Next Year's Revenue" of $7,641,028 less a reduction of revenue estimates of $5,285,118 due mostly to a change in methodology); an increase in expenditure appropriations by $1,644,265; a net increase in transfers-in by $648,575; and an increase in Ending Fund Balances of $1,360,220. The roll call vote was as follows: AYES: Councilmembere - Brozosky, McGovern, Sullivan, Thorne, and Mayor Hosterman NOES: None ABSENT: None ABSTAIN: None 8d(2) Adoption of the 2005-06/2006-07 Operatinq BudqetI Community Development Block Grant Proflram and Library Services Department Budqet_ (SR 05:167) Mr. Fialho restated the budget message as reflected at the Council's Budget Workshop held on June 8, 2005. Ms. Rossi presented the staff report. Mr. Brozosky referenced page six of the staff report, which mentioned that overall, General Fund revenues are expected to increase 4.7 pement in the first year of the budget, and 8.8 percent in the second year. In reading the staff report, he believed the City's revenues are expected to increase by 4.7 percent in the first year, but expenditures are higher. He asked staff to explain why there was no deficit for the first year. Ms. Rossi noted that Council is seeing the result of State budget impacts and the City is losing $2 million dollars in fiscal year 2006 which reduces this number and brings it down to less than the expenditure growth. In the second year, there is an unusually high growth in revenue, which results in the repayment of the VLF gap loan from fiscal year 2004. Pleasanton City Council 22 06/21/05 Minutes