03 - Laserfiche WebLink

Employee Benefit Fund The Employee Benefit Fund (EBF) is used to account for non-salary employee costs. The departments' budgets are charged for benefit expenses as a percent of salary, and the dollars then flow to the EBF, where the actual costs are recorded. For FY 2006-07, benefit costs were under budget by $860,735, and revenues exceeded projections by $115,221, because interest income and contributions from the Operating Funds exceeded estimates. ALL OTHER OPERATING FUNDS For the most part, budget variances are small for the other Operating Funds. Most of the Landscape District Funds and Geologic Hazard District Funds were slightly under budget, with expenditures less than budgeted. The Lower Income Housing Fund had developer fee revenue that exceeded budget by $93,237 and expenditures below budget by $445,484 with $402,016 being carried over into 2007-08. The Recycling and Waste Management Fund actual revenue from Measure B exceeded budget by $93,237 during 2006-07. Measure B Fund collections are based on landfill tonnage. For all other Operating Funds, budget to actual variances are small. Therefore staff is recommending only a few minor budget changes, as outlined in Attachment 3A. REVOLVING LOAN FUND The City has a Fund to reflect revolving housing related loans. Staff has removed this Fund from the Operating Budget presentation because its Fund Balance, recorded in accordance with accounting rules, is not reflective of resources available to make new loans. For budget purposes, the cash balance in this Fund provides a more meaningful number. Therefore, staff has prepared a separate accounting presentation for this Fund in Attachment 5. Page 9 of 10