HomeMy WebLinkAbout8.3 Fiscal Year 2013-14 4th Quarter Financial Review or
19 82 STAFF REPORT CITY CLERK
` CITY COUNCIL File #330-50
DATE: October 7, 2014
TO: Honorable Mayor and City Councilmembers
FROM: Christopher L. Foss, City Manager "
SUBJECT: Fiscal Year 2013-14 4th Quarter Financial Review
Prepared by Colleen Tribby, Administrative Services Director
EXECUTIVE SUMMARY:
The City Council will receive a financial report on the fourth quarter for Fiscal Year 2013-14 and
consider amendments to the Fiscal Year 2013-14 Budget as well as the Fiscal Year's reserve
designations.
FINANCIAL IMPACT:
City Council approval of budget changes and reserve designations in FY 2013-14 will not
change amounts spent or received, but will allow Staff to close the FY 2013-14 books.
Total General Fund reserves are projected at $79,572,887 as of June 30, 2014, with
$13,319,501 in the unassigned (cash flow) reserve to cover 2.7 months of the current operating
budget. All reserves are in compliance with the City's Fund Balance and Reserves Policy.
RECOMMENDATION:
Staff recommends that the City Council receive the report on the preliminary FY 2013-14
financial results and adopt the Resolution Approving a Fourth Quarter Budget Amendment to
the City of Dublin's Fiscal Year 2013-14 Budget and Approving Reserve Designations as of
June 30, 2014.
r
Submitted By %\ Reviewed By
Administrative Services Director Assistant City Manager
DESCRIPTION:
This report transmits the preliminary financial results of the FY 2013-14 year-end, focusing on
the General Fund, and includes any budget amendments needed to close the books. At this
time, the numbers are essentially final, and though adjustments may happen as the audit is
finalized, Staff does not expect substantial changes from the numbers in this report. The
Page 1 of 7 ITEM NO. 8.3
Comprehensive Annual Financial Report (CAFR), which will be presented to the City Council in
December 2014, will contain the final audited results.
General Fund Overview
General Fund revenues came in at $67,913,478 ($5,326,575 over budget) in FY 2013-14, while
expenditures totaled $54,925,137 ($5,249,448 under budget). The resulting impact on the
operating budget was a surplus of $12,988,341, before contributions to Capital Improvement
Projects. However, in June the City Council designated roughly $6.9 million of the estimated
year end surplus to specific project reserves. After accounting for these designations, and
including reserve allocations for budget carryovers and for set asides required by accounting
rules and/or City policy, the remainder available to allocate among reserves is approximately
$5.9 million.
This Staff Report includes a recommendation on how to allocate the $5.9 million in reserves,
including the setting aside of funds for a future expansion of the Civic Center (Police services
wing), an increase to the reserves for Public Facility Fee Advance and the City's pension
liability, and a set aside for a General Fund contribution to the Internal Service Funds. This is
discussed in detail in the General Fund Reserve Balances section of this report.
The following is a discussion of the major factors in budgetary variances (+/- $200,000) that
occurred in FY 2013-14. The General Fund Summary (Attachment 2) presents this data by
major category.
Revenues
Sales Tax: $763,366 higher than budget. This increase was a result of overall growth across
nearly all sectors. The Business and Industry sector and the Building and Construction sector
(which typically trends with development activity) showed the highest gains, at 52.6% and
18.8%, respectively. However, there were some large retroactive corrections in the first quarter
of 2014, which may have continued into the second quarter. As this data is analyzed, Staff will
continue to refine the FY 2014-15 budget to take into account these one-time adjustments.
Other Taxes: $967,790 higher than budget. Property Transfer Tax came in $251,000 higher,
linked to increased assessed valuations; high hotel occupancy and room rates brought
Transient Occupancy Tax revenue in $237,128 over budget; and Garbage franchise fee
revenue came in $480,960 above budget, due both to rate increases and expanded services.
Building Permits: $1,265,228 higher than budget. The increase is related to the acceleration of
development activity that had been originally anticipated in FY 2014-15. It is important to note
that these revenues are not long-term in nature, and that long-term forecasts incorporate a
significant reduction in such development-related income. Because there is a lag between the
receipt of revenue and the expense of related funds to provide the services, the City continues
to maintain a Service Continuity Reserve (currently at $2,410,000) to ensure that there are
future funds to cover expenditures when development activity slows.
Interest Revenue: $434,545 higher than budget. This increase is due primarily to an accounting
adjustment for Fair Market Value. Actual interest income increased moderately, coming in
roughly $69,000 higher than budget.
Page 2 of 7
Charges for Services: $1,301,561 higher than budget. More than half of the increase was due to
higher Zoning fee revenue tied to the overall increase in development activity. Smaller gains
occurred in revenue from Family and Sports Programs.
Community Benefit Payments: $262,648 higher than budget. The City does not typically budget
for these on an ongoing basis, unless there are some large, known payments at the beginning
of the year. With the accelerated development in FY 2013-14, the City also received a number
of smaller payments that were related to existing development agreements.
Expenditures
Salaries and Wages: $290,411 lower than budget. There was a high level of activity in FY 2013-
14 against capital project budgets, where Staff was allocated to sources other than the General
Fund. Additionally, a number of development-related and recreational program expenditure
budgets were adjusted upwards where there was a corresponding increase in revenue.
Services and Supplies: $225,894 lower than budget. This was the net result of a number of
categories that were underspent during the fiscal year, including minor repairs and
maintenance, trainings, printing and binding, and insurance premiums.
Contracted Services: $3,499,497 lower than budget. This is primarily due to significant
variances in the contracts with Alameda County for both Fire and Police services. The Fire
contract included a cost of living adjustment that was ultimately considerably lower, and the
budget also included a carryover of unused budget from the prior year. The Police Services
contract included both a contingency amount and a prior year carryover: these two contracts
combined came under budget by nearly $2,300,000. Other variances were related to
development services, where budgets were adjusted upwards to match related revenue
increases. It should be noted that roughly $923,000 in contracted service budgets have been
carried over to FY 2014-15, and the General Fund reserves reflect the setting aside of funds to
cover these.
Contingency and Contributions: $914,470 lower than budget. This variance includes the budget
carryover from the prior year of contingencies for marketing and branding, an additional Fire
contingency, and the citywide contingency of$150,000.
The General Fund summary also includes two items needing City Council approval to close the
books. The City balances expenditures at the program level, so while the fund as a whole was
under budget in all categories, two programs had higher costs than anticipated. Approval of the
FY 2013-14 Budget Change Form (Attachment 4) will increase the personnel budgets in the
Parks and Facilities Development Program and the Engineering Program by $79,002 and
$93,807, respectively.
Transfers Out for Capital Improvement Projects
The General Fund contributed $10,732,587 towards capital project expenditures in FY 2013-14.
The largest of these transfers included $4,894,349 for the Maintenance Yard, $3,186,592 for the
Public Safety Complex, and $1,954,250 for the Iron Horse Trail Parkland Acquisition. The
Maintenance Yard and Public Safety Complex projects are nearly complete, with the remainder
of the budgets being spent in the current year.
Page 3 of 7
Of the total transferred out for capital projects, $10,415,745 was covered by specific Committed
Reserves, with the remainder coming from the unassigned reserves. The General Fund
Summary (Attachment 2) contains a list of projects, and indicates which ones were covered by
Committed Reserves.
General Fund Reserve Balances
After transfers out to CIP projects, total reserves increased $2,255,754 in FY 2013-14. It is
important to look not only at how total reserves changes over the year, but how the addition or
use of reserves gets shifted and allocated across the reserve categories, as allowed by the
Funds Balance and Reserves Policy.
Total Change to Reserves
As summarized in Table 1 below, and illustrated in detail in the General Fund Reserves
Summary (Attachment 3), the total change to reserves is simply the prior year reserve balance,
plus revenues, less expenditures, and less transfers out to capital projects.
Table 1:Total Reserves
12-13 13-14
Actual Projected
Total Reserves,beginning of year 64,763,236 77,317,129
Total Revenues 67,246,284 67,913,478
Total Expenditures (52,403,138) (54,925,137)
Total CIP Expenditures (2,289,252) (10,732,587)
Total Reserves,end of year 77,317,129 79,572,883
Change 2,255,754
Amount to Allocate Among Reserves
Table 2 summarizes the calculation to arrive at the amount of reserves available to allocate. The
operating budget has a surplus of $12,988,341, before CIP expenditures. The $10,732,587 in
CIP expenditures are offset by $10,415,745 with the use of Committed Reserves, leaving
$12,671,500 remaining to shift among all reserves. As mentioned above, a large portion of this
was designated by the City Council in June; and, after further designations for accounting and
policy purposes, the remainder to allocate is $5,903,566.
Some of the reserve shifts occur for accounting purposes or are dictated by the Fund Balance
and Reserves Policy, while the other shifts are based on City Council approval and/or Staff
recommendation. The following is a discussion of how the remaining $5,903,566 is
recommended to be allocated as of June 30, 2014. Attachment 3 provides the detail of these
allocations.
Page 4 of 7
Table 2: Reserve Amount to Allocate
13-14
Projected
Total Revenues 67,913,478
Total Expenditures (54,925,137)
Operating Surplus/(Deficit) 12,988,341
Total CIP Expenditures (10,732,587)
Use of Committed Reserves 10,415,745
Reserves to Allocate,end of year 12,671,500
Allocations made i n June 2014 (5,916,538)
Net Allocations for carryovers (1,317,880)
Net Allocations and Adjustments per
Policy or Accounting Rules 466,484
Remainder to Allocate 5,903,566
Recommendations
Allocations to Committed (1,131,153)
Allocations to Assigned (3,500,000)
Remainder to Split Between Non-
Streets CIP and Pension/OPEB
Reserves 1,272,413
Reserve Allocations for Accounting and Policy Purposes
1. Non-Spendable and/or Restricted Reserves — these include adjustments to account for
prepaid expenditures, and for the annual pay down of advances from the General Fund to
the Fire Impact Fees Fund and the CalPERS Side Fund. The net of these changes is a
decrease by $556,109 in Non-Spendable Reserves at the end of the year. The Restricted
Reserve for Heritage Park Maintenance remains unchanged.
2. Committed Reserves — these reserves are established for specific project purposes and are
added to, shifted, or spent down under approval of the City Council, and thus are not
typically adjusted by accounting rules or by policy. However, the subcategory of Non-Streets
CIP Reserve is called out in the Fund Balance and Reserves Policy, which requires that 50%
of remaining resources (after all reserve requirements are met) are shifted there. In FY 2013-
14, that amount is $636,202. The Fire Services OPEB (Retiree Health) Reserve is also
adjusted by policy; in this case the adjustment is to bring the reserve to the most recent
valuation provided by the Alameda County Fire Department. Staff is working with the County
to finalize the arrangement to use this reserve to fully fund the City's share of retiree health
before the calendar year end.
3. Assigned and/or Unassigned Reserves — these include adjustments to account for specific
required valuations or balances as of June 30. For example, the City is required to book the
value of Compensated Absences (accrued employee leave balance), as well as the Fair
Market Value of Investments, even though the leave balances will likely not be paid out all at
once, and the investments will not likely be sold all at once.
Assigned Reserves also includes carryovers to the next fiscal year, which occur when there
is an open purchase order at the end of the year, and/or where there is remaining program
Page 5 of 7
budget that will be carried over for the same purpose for which it was originally budgeted. At
the FY 2013-14 year end, $1,486,299 in operating budget and $1,083,752 in capital project
budgets (other than those funded with Committed Reserves) will be carried over to FY 2014-
15; thus a reserve is needed at year end to account for this.
Further allocations defined by policy include the change to the Catastrophic Reserve to
adjust to 15% of the total book value of building assets (as reported in the most recent
CAFR), and the change to the Fiscally Responsible Reserve to allow for employee merit
increases in the next fiscal year, where sufficient budget exists. The policy also allocates the
other 50% of remaining resources (after all reserve requirements are met) to the Pension
and OPEB Reserve: the $636,202 added here in FY 2013-14 fulfills that requirement.
Finally, the Unassigned Cash Flow Reserve is adjusted annually to between two and four
months of the next year's operating budget. In FY 2013-14, the City will set aside 2.7 months
of the FY 2014-15 budget in this reserve.
Reserve Allocations by City Council Approval and Staff Recommendation
1. Committed Reserves - In June 2014, the City Council approved setting aside the
following specific reserves:
a. $1,500,000 million for the Emerald Glen Aquatics Complex.
b. $1,641,538 million for the Cemetery Expansion project.
c. $775,000 for the Shannon Center Parking Lot.
d. $2,000,000 million for an Advance to the Public Facility Fees Fund.
Staff is recommending that the City Council approve the following additional Committed
Reserve allocations at year-end-
e. $131,153 to the Economic Stability Reserve, to level off funding at $6.0 million
f. No additional funds set aside in the Non-Streets CIP Reserve, beyond the Policy
requirement of 50% allocation of net resources (which is $687,872 million in FY
2013-14).
g. An additional $1,000,000 for the Advance to the Public Facility Fees Fund. The
total advance needed is estimated at $5,250,000, over the next several years. If
the City Council approves the additional $1,000,000 in FY 2013-14, the five-year
forecast would be adjusted to reflect this, but would not change the total amount
needed.
2. Assigned Reserves — the following reserve shifts are recommended:
a. $2,000,000 assigned to the estimated cost of a renovation of the Police services
wing of the Civic Center.
b. $500,000 contribution towards Internal Service Funds, specifically related to IT
improvements that may be identified in the IT Master Plan, which will be
completed in the current fiscal year.
c. $1,000,000 to the Pension and OPEB Reserve, before the required addition of
50% of net resources. In May 2014, the CalPERS board approved changes to the
structure of small- employer pension risk pools that will allow agencies to pay off
Page 6 of 7
some or all of their unfunded liability. The increase to this reserve is recommended
in anticipation of that possibility, and Staff believes it is a prudent use of the
current surplus. When the City receives its next pension valuation (likely in
October 2014), Staff will undertake a full vetting of the new options available, and
bring a final recommendation back to the City Council.
Other Funds
There were no significant variances or events to report in other funds for FY 2013-14. Included
in the FY 2013-14 Budget Change Form (Attachment 4) is list of items needing City Council
approval in order to close the books. The majority of these adjustments are minor in scope, and
all authorize the use of funds that are available.
NOTICING REQUIREMENTS/PUBLIC OUTREACH:
None.
ATTACHMENTS: 1. Resolution Approving a Fourth Quarter Budget Amendment to the
City of Dublin's Fiscal Year 2013-14 Budget and Approving Reserve
Designations as of June 30, 2014
2. General Fund Summary
3. General Fund Reserves
4. Budget Change
Page 7 of 7
RESOLUTION NO. xx - 14
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
APPROVING A FOURTH QUARTER BUDGET AMENDMENT TO THE CITY OF DUBLIN'S
FISCAL YEAR 2013-14 BUDGET AND APPROVING RESERVE DESIGNATIONS AS OF
JUNE 30, 2014
WHEREAS, the City of Dublin adopts the budget with the intent of providing a planned policy
program for City services; and
WHEREAS, the City Council approved Resolution 86-13 adopting the Adopted Budget and
Financial Plan for Fiscal Year 2013-14 on June 4, 2013; and
WHEREAS, amendments for revenues and expenditures impacting the various funds should be
approved, consistent with the changes in estimated revenues, operating requirements, and
previous City Council actions, and consistent with the information provided with the 4th Quarter
Financial Review of Fiscal Year 2013-14 received by the City Council on October 7, 2014; and
WHEREAS, the following 4th quarter budget items need City Council approval:
General Fund:
1. Increase Parks and Development Program salaries: $79,002
2. Increase Engineering Program salaries: $93,807
Non-General Fund:
1. Increase Federal Transportation funding to reimburse Measure B for Alamo Canal
project: $23,490
2. Increase Measure D funding for drainage maintenance: $2,040
3. Increase Landscape District Stagecoach funding for landscaping and maintenance:
$2,035 (total)
4. Increase Public Art Fund appropriation for repairs and maintenance: $5,547
5. Increase Eastern Dublin Traffic Impact Fee (Cat 1) funding for Tassajara Interchange
construction: $115,362
6. Increase Eastern Dublin Traffic Impact Fee (Cat 2) funding for ACSPA BART Short Term
Loan payment: $100,000; and
WHEREAS, the following 4th quarter General Fund reserve designations need City Council
approval, and will be added to FY 2012-13 reserve balances-
1. $131,153 to the Economic Stability Reserve (Committed)
2. $1,500,000 to the Emerald Glen Aquatics Complex Reserve (Committed)
3. $636,202 to the Fire Services OPEB Reserve (Committed)
4. $1,641,538 to the Cemetery Expansion Reserve (Committed)
5. $677,497 to the Non-Streets CIP Reserve (Committed)
6. $775,000 to the Shannon Center Parking Lot Reserve (Committed)
7. $3,000,000 million for an Advance to the Public Facility Fees Fund (Committed)
ATTACHMENT 1
8. $82,590 to the Accrued Leave Reserve (Assigned)
9. $1,486,299 to the Operating Carryover Reserve (Assigned)
10.$1,083,752 to the CIP Carryover Reserve (Assigned)
11. $500,000 to the Contribution to ISF Reserve (Assigned)
12. $70,915 to the Catastrophic Loss Reserve (Assigned)
13. $2,000,000 to the Civic Center Renovation, Police Wing (Assigned)
14. $1,636,202 to the Pension and OPEB Reserve (Assigned)
15.$325,000 to the Fiscally Responsible Adjustment Reserve (Assigned);
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does hereby
amend the Adopted Budget and Financial Plan for Fiscal Year 2013-14 to account for the items
listed in this resolution, and does hereby confirm the designation of reserves as listed in this
resolution.
PASSED, APPROVED AND ADOPTED this 7t" day of October, 2014, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
Mayor
ATTEST:
City Clerk
ATTACHMENT 1
GENERAL FUND SUMMARY ATTACHMENT 2
FY 2013-14 4th QUARTER FINANCIAL REVIEW
12-13 13-14 13-14 13-14 Change from
Actual Adopted Amended Projected Amended
Revenues
Property Taxes 23,590,102 24,153,050 25,169,054 25,286,308 117,254
Sales Tax 15,359,340 16,271,400 17,069,948 17,833,314 763,366
Other Taxes 5,054,257 4,333,000 4,459,837 5,427,627 967,790
Building Permits 4,627,631 2,255,020 3,781,700 5,046,928 1,265,228
Other Licenses& Permits 627,878 535,750 768,773 927,056 158,283
Fines& Penalties 132,616 138,260 138,260 111,714 (26,546)
Interest (541,130) 652,970 352,970 787,515 434,545
Rentals& Leases 582,039 581,270 581,270 708,090 126,820
Intergovernmental 208,904 183,620 183,620 191,574 7,954
Charges for Services 9,076,147 7,093,630 7,896,251 9,197,812 1,301,561
Other Revenue 4,374,340 327,510 339,010 286,683 (52,327)
Community Benefit Payment 4,154,160 11461,210 1,846,210 2,108,858 262,648
Total Revenues 67,246,284 57,986,690 62,586,903 67,913,478 5,326,575
Expenditures
Salaries&Wages 8,769,627 9,279,340 9,733,620 9,443,209 (290,411)
Benefits 4,127,833 4,628,830 4,596,661 4,530,270 (66,391)
Services&Supplies 1,992,120 2,308,520 2,359,019 2,133,125 (225,894)
Internal Service Fund Charges 1,459,328 1,770,280 1,770,280 1,721,525 (48,755)
Utilities 1,576,985 1,944,310 1,949,675 1,784,982 (164,693)
Contracted Services 33,987,431 35,891,550 38,599,284 35,099,787 (3,499,497)
Capital Outlay 369,956 236,420 251,577 212,240 (39,337)
Contigency&Contributions 119,858 1,172,930 914,470 - (914,470)
Total Expenditures 52,403,138 57,232,180 60,174,585 54,925,137 (5,249,448)
OPERATING BUDGET IMPACT
SURPLUS/(DEFICIT) 14,843,145 754,510 2,412,318 12,988,341 10,576,023
CIP Expenditures
Maintenance Yard * (6,027,950) (4,894,349)
Public Safety Complex* (3,283,905) (3,186,592)
Parkland Acquisition * (2,052,225) (1,954,025)
Emerald Glen Aquatics Complex* (102,350) -
Civic Center Modifications* (275,579) (132,498)
Joint City/School Projects * (600,000) (364,127)
Tree Planting (1,250) (777)
Sidewalk Safety (82,126) (21,574)
Electronic Agenda (308,950) (64,945)
Tel System (15,040) -
Energy Upgrade (5,695) (102)
Network Syst Upgrade (326,332) (12,539)
Tennis Court Resurfacing (143,350) -
GIS (68,656) -
ADA Transition (22,400) -
Storm Drain Condition (147,443) (100,476)
Storm Drain Trash Capture (179,019) (583)
TOTAL CIP EXPENDITURES (2,289,252) (13,642,270) (10,732,587) 2,909,683
USE OF COMMITTED RESERVES
(for projects noted by*) 11,923,388 12,342,009 10,415,745
AMOUNT AVAILABLE TO SHIFT
AMONG RESERVES 24,477,281 12,671,500
NET IMPACT ON RESERVES 12,553,893 (11,229,951) 2,255,754
GENERAL FUND RESERVES: ATTACHMENT3
Preliminary Year-End FY 13-14
Actual 13-14 13-14 total change Projected
2012-13 INCREASE DECREASE during year 2013-14
Reserve Balances NOTES
Non-Spendable $2,836,130 $69,736 ($635,844) ($566,109) $2,270,022
Prepaid Expenses 34,756 64,771 (72,448) (7,677) 27,080
Cemetery Endowment 60,000 - 60,000
Advance to Public Facility Fees - - -
Advance to Fire Impact Fee 1,098,606 4,965 (201,663) (196,699) 901,9070 Reduction based on fees collected net of interest on outstanding advance
Advance to PERS Side Fund 1,642,768 (361,733) (361,733) 1,281,035 Annual contribution;per policy added to Fire OPB reserve
Restricted a $500,000
Heritage Park Maintenance 500,000 - 500,000
Committed 36,020,171 $8,21M($10 $33,874,267
Economic Stability 5,868,847 131,153 131,153 6,000,000 To level off reserve
Downtown Public Impr 1,000,000 - 1,000,000
Open Space Funding 2,000,000 (1,954,025) (1,954,025) 45,975 Spent on Iron Horse Trail parkland acquisition.
Affordable Housing 1,000,000 - 1,000,000
Emerald Glen Aquatic Complex 1,500,000 1,500,000 1,500,000 3,000,000 To prepare for project expenses in FY 15-16.
Emergency Communications 741,000 - 741,000 For puchase of police radios in FY 12-13.
Fire Svcs OPEB 7,610,058 585,942 585,942 8,196,000 Increased to reach most recent valuation.Funding arrangement in progress.
Innovations&New Opport 1,372,785 - 1,372,785 Established in FY 11-12,initial costs related to Public Safety Complex.
Maintenance Facility 6,027,950 (4,894,349) (4,894,349) 1,133,601 Project expenses in FY 13-14.
Cemetery Expansion 750,000 1,641,538 1,641,538 2,391,538 To prepare for project expenses beginning in FY 14-15.
Fallon Sports Park - - Funding will occur in FY 14-15.
Civic Ctr Expansion 391,568 (132,492) (132,492) 259,076 Project expenses in FY 13-14.
Public Safety Complex 3,070,746 (3,070,746) (3,070,746) - Project expenses in FY 13-14.
A City/School Projects 600,000 (364,127) (364,127) 235,873 Project expenses in FY 13-14:DHS Tennis and Performing Arts Ctr.
Non-Streets CIP Commitments 2,745,809 636,202 636,202 3,382,011 50%remaining resources are added here,after all designations.
Shannon Center Parking Lot 775,000 775,000 775,000 New reserve approved by City Council in June 2014.
Advance to Public Facility Fee 3,000,000 3,000,000 3,000,000 New reserve approved by City Council in June 2014.
One-Time Initiative 1,341,408 - 1,341,408 Established in FY 11-12 for one-time City Council initiatives.
$23,912,896 $ 1) $5,596,436 $29,509,332
Accrued Leave 896,658 82,590 82,590 979,248 Value of leave benefits at June 30.
Operating Carryovers 986,326 1,486,299 (986,326) 499,973 1,486,299 Operating funds remaining in FY 13-14 budgets,carried into FY 14-15.
CIP Carryovers 265,845 1,083,752 (265,845) 817,907 1,083,752 CIP Project funds remaining in FY 13-14 budgets,carried into FY 14-15.
Civic Ctr Renovation-Police - 2,000,000 2,000,000 2,000,000 Estimated cost of renovatino of Police wing at Civic Center.
Contribution to ISF - 500,000 500,000 500,000 Increase ISF funding to prepare for IT Master Plan results.
Catastophic Loss 10,537,271 70,915 70,915 10,608,186 To reach 15%of bookvalue(using FY 12-13 CAFR).
Service Continuity 2,410,000 - 2,410,000 To account for accelerated building activity in FY 13-14.
Pension&OPEB 8,480,646 1,636,202 1,636,202 10,116,848 50%remaining resources are added here,after all designations.
Fiscally Responsible Adj 336,150 325,000 (336,150) (11,150) 325,000 Carry over in accordance with personnel policies,in the following year.
$14,047,935 $12,�($13,268,573) ($628,669) $13,419,266
Unassigned-Unrealized Gains (263,162) 362,928 - 362,928 99,765 Adjustment for fair market value ofinvestments.
. d(Available) 14,311,098 12,276,979 (13,268,579) (991,600) 13,319,501 $13M OM= . months of FY 14-15 operating budget.
CITY OF DUBLIN
FISCAL YEAR 2013-14
BUDGET CHANGE FORM
Budget Change Reference#:
City Council's Approval Required
From Un-Appropriated Reserves X Budget Transfer Between Funds
From Designated Reserves Other
Account Amount Reason for Budget Change
General Fund - Parks & Facilities Dev-Salaries Lower than estimated staff charges to CIPs,which increases
1001.7901.51101 $79,002 funding level by General Fund
General Fund - Engineering -Salaries Lower than estimated staff charges to CIPs,which increases
1001.8301.51101 $93,807 funding level by General Fund
Federal Transportation (TIGER) - Non-Dept-Transfer Out Reimbursement to Measure B for Alamo Canal CIP expenditure
2211.1901.89101 $23,490
Measure D Fund -Street Maintenance -Contract Services Maintenance of storm inlet filter inserts
Drainage Maint
2302.3201.64076 $2,040
Landscape District Stagecoach 1983-2 -Street Contract services for street landscaping and tree maintenance
Landscaping/Street Tree -Contract Services General
2702.3401.64001 (Street Landscaping) $1,210
2702.3402.64001 Street Tree Maintenance $825
Public art repairs
Public Art Fund - Pak Maintenance- Repairs and Maintenance
2801.7501.61301 $5,547
EDTIF(Cat 1) - Non- Dept- Impact Fee Obligation Reimbursement of Tassajara Interchange construction costs
4301.1901.86101 $115,362 advanced by developers
EDTIF(Cat 2) - Non- Dept- Principle Payment ACSPA BART Short Term Loan payment
4302.1901.85102 $100,000
As Presented at the City Council Meeting 10/7/2014
Posted By: Date:
C:\Users\colleent\AppData\Local\Microsoft\Windows\Temporary Internet Files\Content.Outlook\JPDTPVGV\FY 13-14 Year-End Budget Adj_100714 FY
13-14 Year-End Budget Adj_100714