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The Water and Sewer CIP on pages B-8 to B-9 reflect: <br />• An adjustment to the projected revenues from Water and Sewer Connection <br />Fees to reflect the actual fees collected through December 31St and $170,000 <br />and $190,000 increases in projected interest income earnings, respectively. <br />• An adjustment in the Sewer CIP to reduce developer revenue and increase <br />FEMA revenue. <br />• A net decrease of $806,345 in Water CIP expenditures primarily due to the <br />closing out of completed projects. <br />• A net decrease of $279,821 in Sewer CIP expenditures. A decrease in the East <br />Amador Relief Line Pump Station Reserve is partially offset by an increase to the <br />expenditures related to the Pump Station S-6 Improvements. <br />• The net effect of the Mid-Year amendments is a $1,126,510 increase to the <br />estimated Water CIP ending fund balance and a $146,656 decrease to the <br />estimated Sewer CIP ending fund balance. <br />After the recommended amendments are made to the CIP, the results are reflected in <br />the Adjusted CIP budgets shown in Appendix C, on pages C-1 through C-9. <br />Submitted by: <br />David P. Culver <br />Director of Finance <br />Attachments: <br />1. Resolution <br />Approved y: <br />Nelson Fialho <br />City Manager <br />2. Appendix A -Operating Budget Estimated Change in Fund Balances <br />3. Appendix B -CIP Budget Recommended Mid-year 2007-08 Amendments <br />4. Appendix C -Adjusted FY 2007-08 CIP Budget <br />Page 10 of 10 <br />