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The Parks CIP Funds ended the year with a favorable variance of actuals (plus carryovers) to adjusted budget of $367,398. Four items make up this difference. Measure B revenue was $4,077 less than expected, park dedication fees received were $77,656 more than expected, interest income was $294,756 more than expected, and an expenditure for project #077056 was $937 more than budgeted. Quarter Four Adiustments: There was only one adjustment in the Parks CIP during the final quarter of FY 07-08. In June 2008 Council approved the transfer from the CIPR of $355,377 to the "Gingerbread Preschool Play Yard" project #067015. PARKS Total Budgeted Ending Fund Balance $ 899,412 Actual Fund Balance after Carryovers 1,266,810 Variance favorable/(unfavorable) $ 367,398 The Streets CIP Funds ended the year with a favorable variance of actuals (plus carryovers) to adjusted budget of $1,101,856. The primary reason for this positive variance is that overall revenues were $1,097,883 higher than expected. Although Measure B revenue was $18,743 lower, the traffic impact fees received were $503,884 higher than expected, the tri-valley transportation fees received were $149,474 higher, interest income was $270,751 higher, Dougherty Valley mitigation fees were $31,600 higher, City of Dublin reimbursements were $56,985 higher, developer contributions were $102,927 higher, and State gas tax revenues were $1,005 higher than expected. On the expenditure side, City staff time spent on NPID projects was $3,973 less than expected. Quarter Four Adiustments: Council is being asked to approve a $797,877 increase to the Prop 1 B revenue budget due to a June 2008 early receipt from the State. Council is also being asked to increase the expenditure reserve budget in quarter 4 by $80,650 in the Dougherty Valley Mitigation Revenue Reserve project #025023 due to revenues received during the year. Council is also being asked to approve a decrease of $234,288 in both revenues and expenditures in the Stoneridge Drive Specific Plan project #800014. This entry is merely a correction to the budget document and does not reflect an actual decrease in Stoneridge Drive Specific Plan fees. Other changes in quarter 4 were already approved by Council. In June 2008, Council approved a reduction in both revenues and expenditures of $480,900 for the Bernal Bridge project #995067. Page 4 of 5