RES 85105 - Laserfiche WebLink

Overall the city's financial position is better than e×pected at the ~ime the budget was prepared last spring. The Oenera], Fund Balance as of June 30, t985, is projected to be $4,704,705 or $2,175,358 greater than originally projected, This is mai. nly attributable to a higher beginning fund balance ($1,550,98¢ grea'ter than orginal]y projected) caused by the foilGLuing: , actual revenues exceeding revenue projections in 1~8~/84FY ($8tl,348) . actual expenditures were less than projected * a transfer of excess funds ~.n several closed assessment district accounts being transferred to the General Fund as approved by Counci] ($390,767). ~fter transferring Revenue Sharing Funds to the General Fund to support police services, and the (net) reimbursement by the utility funds (i.i., sewer and water ) to the Genera] Fund of overhead expenses the city's operating budget is ba]anced. For the past five years, including the current year, the city budget has been balanced. Staff w~.]] continue to m~intain as a goal, balanced operating budget in order to ensure the financial stability and security of the The Sewer and Drainage Fund balance as of June 5¢, 1985, is projected to be $66,556 greater than originally projected, This is mainly due to projected revenues and the beginning fund balance bezng greater than the estimates made last spring. ~ two year rate study w~ll be completed late May, 1985 for the 1985/86 and 1988/87 fj. scal years as required by the U.S, Environmental Protection 6gency. ~s you may recall this is a requirement of the grant program used to finance the construction of the P]easanton interceptor sewer line, pump stations, the L~WWM6 facilities, and to expand the DSRSD Sewage Treatment Facilities. The Water' Maintenance and Operation Fund balance as of June 1985, is projected to be $?74,267. Th;s ~s $346,864 less than originally projected last spring. This is mainly due to the anticipated increase ~n the quantz~y of water purchased from Zone 7 12