HomeMy WebLinkAbout2004-12-14 City Council (2)City of Palo Alto
City Manager’s Report
TO:HONORABLE CITY COUNCIL
ATTENTION:FINANCE COMMITTEE
FROM:CITY MANAGER DEPARTMENT: ADMINISTRATIVE
SERVICES
DATE:DECEMBER 14, 2004 CMR: 502:04
SUBJECT:ORDINANCE CLOSING THE 2003-04 FISCAL YEAR,
INCLUDING TRANSMISSION OF THE CITY’S
COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR),
REAPPROPRIATION REQUESTS, AND COMPLETED CAPITAL
IMPROVEMENT PROJECTS
RECOMMENDATION
Staff recommends that the Finance Committee review, recomlnend and forward the attached
ordinance (Attachment A) and associated exhibits to the City Council for its approval to: close
the 2003-04 Budget and authorize re-appropriation of 2003-04 funds into the 2004-05 Budget
(Exhibits A & B); close completed capital ilnprovement projects (Exhibit C); and transfer
remaining balances to the appropriate reserves (Exhibits D & E for General Fund and Exhibits F
& G for Enterprise Funds). In addition, staff is transmitting the City’s Comprehensive Almual
Financial Report (CAFR) for review and approval (Attachment B).
BACKGROUND
The attaclvnents to this report provide the necessary documents for closing the 2003-04 fiscal
year budget and providing funds for the current fiscal year 2004-05. They also offer detailed
information on the City’s financial activities for 2003-04. This cover report highlights the key
fiscal issues impacting the City of Palo Alto and identifies pages in the attachments where the
reader can find more comprehensive explanations. The Management Discussion and Analysis
(MD&A) chapter of the CAFR (Attachment B) provides an easy-to-read, thorough discussion
and analysis of the City’s current fiscal health, including financial statements,, performance
compared to the prior year, capital assets and debt administration. The Long-Range Financial
Plan (CMR:492:04), presented to the Finance Committee on December 14, 2004, contains a
more comprehensive analysis of the local and national economic factors impacting Palo Alto
going forward.
Economy
Toward the end of 2003-04, the local economy showed some signs of improvement in certain
areas. County and local unemployment rates decreased and economically sensitive revenue
sources, such as sales and transient occupancy tax stopped declining. In spite of these small
CMR:502:04 Page 1 of 4
improvements, the economic recovery of the Silicon Valley has not materialized. In addition, the
State’s financial concerns have also reduced local revenue and may impact future local revenues.
(MD&A pp. 13-15; Transmittal Letter p. v)
Because of the continued, slow economic recovery and the uncertainty of possible future State
actions, this is the fourth straight, year the City has had to closely monitor revenues and
expenditures and make adjustments to maintain a balanced budg.et without using reserves. For
example, the City had a hiring freeze and voluntary furlough this past year. The City also
continued to reduce expenditures without impacting services to the public; however, continued
maintenance of service levels may be difficult. (MD&A pp. 13-15; Transmittal Letter p. v.)
Infrastructure
Even though the economy has been tepid, the City has been able to maintain its commitment to
the Infrastructure Management Plan. In 2003-04, $2.5 million was added to the Infrastructure
Reserve. The Plan focuses on the backlogged and highest priority projects to ensure that the
City’s critical infrastructure remains strong. Construction finished on the new downtown parking
structures and has continued with the Homer Avenue undercrossing project. Additional efforts
focused on streets, sidewalks, parks, open space, and City facilities. (MD&A pp. 15-18)
DISCUSSION
There are several necessary year-end adjustments tO the 2003-04 budget. Specific transactions
are detailed in Exhibit A of the budget-closing ordinance. Exhibits D and F summarize financial
results for fiscal year 2003-04 for the General Fund and Enterprise Funds, respectively. They
provide an analysis of the performance of these funds in comparison to the budget as adopted
and adjusted by Council. The result of net operations is explained in terms of changes to the
various fund reserves authorized by Council. ¯
Results b,/Fund
General Fund
By fiscal year end, the City’s financial position remained sound in spite of a slow economic
recovery. This is due to a proactive approach to align revenues and expenditures. The General
Fund shows a net operating, surplus of $0.5 million compared to $2.9 million in ttie prior year.
This result includes recognition of an unrealized loss on investments of $3.6 million that is
required by GASB 31 and a $0.8 million transfer from Utilities to the Equity Transfer
Stabilization Reserve. At fiscal year-end, the fund balance for the General Fund totaled $66.8
million. This was comprised of: $6.7 million reserved for encumbrances, notes and inventory;
$21.5 million for the Budget Stabilization Reserve; $35.9 million for the Infrastructure Reserve;
$2.3 million for the Equity Transfer Stabilization and $0.4 million for Reappropriations. (MD&A
pp. 13-15)
Capital Projects Fund
For fiscal year 2003-04, the Capital Projects Fund reported $28.2 million in expenditures and
other uses, which is a decrease of $5.0 million from the prior year. Prior year expenditures were
higher due to construction for the parking garages of $18.4 million. Major expenditures in 2003-
04 for the Capital Projects Fund included rehabilitation and maintenance of existing
infrastructure, such as $4.3 million for streets and sidewalks, $8.6 million for continued
construction on garages, and $2.5 million on the Homer Avenue undercrossing project. The
CMR:502:04 page 2 of 4
Capital Projects Fund Balance totaled $21.6 million, an increase of $0.6 million from the prior
year. (MD&A p. 15)
Enterprise Funds
The Rate Stabilization Reserves (RSRs) for the combined Enterprise Funds decreased by a net
$14.1 million. Major changes include a $5.2 million decrease from the Gas Fund, primarily due
to a 15% rate decrease and a $4.2 million decrease from the Water Fund, primarily due to
increases in wholesale rates and usage. (Exhibit G)
RESOURCE IMPACT
Adoption of the attached budget-closing ordinance (Attachment A) allows for the
reappropriati0n and carryover of funding from the 2003-04 budget so that specific operating
programs and capital projects can be completed in the current fiscal year (Exhibit B). In addition,
by closing completed capital improvement projects, balances (Exhibit C) are returned to the
original funding source for future appropriation. Exhibit E reflects the allocation to major
reserves as follows:
The General Fund BSR has been capped in accordance with the Council policy of 18.5
percent of budgeted expenditures~ and shows a closing balance of $21.5 million, an i.ncrease
of $0.1 million from the prior year.
The Infrastructure Reserve was increased by $2.5 million and has a closing balance of $35.9
million.
The Reserve for Equity Transfer Stabilization was increased by $0.8 million for a closing
balance of $2.3 million. This is the third of four transfers to reach a $3.0 million funding
target.
Budget transactions included in the attached Ordinance increase General Fund Reserves by
$3.8 million (Exhibit A).
Exhibit G provides the balance changes for all reserve categories for the Enterprise Funds. The
net decrease in the funds was $9.2 million. Highlights for this change include:
Transactions in the attdched ordinance decrease Electric Fund reserves by $0.6 million,
decrease Gas Fund reserves by $0.6 million as detailed in Exhibit A, primarily due to their
funding the Equity Transfer Stabilization.
An increase in the Refuse Fund reserve by $1.3 million as detailed in Exhibit A, from a
return of CIP budget.
POLICY IMPLICATIONS ’
This recommendation is consistent with existing City policies.
ENVIRONMENTAL REVIEW
The action recommended is not a project for the purposes of the California Environmental
Quality Act.
CMR:502:04 Page 3 of 4
ATTACHMENT
Attachment A: Budget Closing Ordinance body text
Exhibit A - Detailed Changes to the Adjusted Budget
Exhibit B - 2003-04Re-Appropriation Requests
Exhibit C - Capital Improvement Projects Closed in 2003-04
Exhibit D - General Fund Summary
Exhibit E General Fund Reserve Summary
Exhibit F - Enterprise Summaries
Exhibit G - Enterprise Reserve Summary
Attachment B: CAFR
PREPARED BY:
TRUDY EIKENBERRY -.3
Accounti~istrative: ~LALO PEREZ ’ z-
Assistant Director, Administrative Services
Services
DEPARTMENT HEAD APPROVAL:
Director, A~
/
CITY MANAGER APPROVAL:
HARRISON
Assistant City Manager
CMR:502:04 Page 4 of 4
Attachment A
ORDINANCE NO.
ORDINANCE OP THE COUNCIL OF THE CITY OF PALO ALTO
AUTHORIZING CLOSING OF THE BUDGET FOR FISCAL YEAR 2003-04
The Council of the City of Palo Alto does ordain as
follows:
SECTION i. The Council of the City of Palo Alto finds
and determines as follows:
A. Pursuant to the provisions of Section 12 of Article
III of the Charter of the City of Palo Alto and as set
forth in Section 2~28.070 8f the Palo Alto Municipal Code,
the Counci! on June 16, 2003 did adopt a budget for fiscal
year 2003-04; and
B. Fiscal year 2003-04 has ended and the financial
results, although subject to post-audit adjustment, are now
available and are herewith reported in summarized financial
Exhibits "A" and "B" and "C" and "D" and "E" and "F" and
"G" prepared by the Director, Administrative~ Services,
which are attached hereto, and by reference made a part
hereof.
SECTION 2. Pursuant to Section 2.28.080 of the Palo
Alto Municipal Code, the City Manager during fiscal year
2003-04" did amend the budgetary accounts of the City of
Palo Alto.to reflect:
A. Additional appropriations authorized by ordinance
of the City Council.
B. Amendments to employee compensation-plans adopted
by the City Council.
C. Transfers of appropriations from the contingent
account as authorized by the City Manager.
D.Redistribution of appropriations between functional
areas major activities, and objects within various
departments as authorized by the City Manager.
E. Fiscal year 2003-04 appropriations which on July i,
2004 were encumbered by properly executed, but uncompleted,
purchase orders or contracts.
SECTION 3. The Council hereby approves adjustments to
the fiscal year 2003-04 budget for Fund Balancing Entries
as shown on attached Exhibit "A
SECTION 4. The Council hereby reappropriates fiscal
year 2003-04 appropriations in certain department% and
categories, as shown on the attached Exhibit "B", while not
encumbered by purchase order or contract, at year end in
the fiscal year 2004-05 budget.
SECTION 5. The fiscal year 2003-04 encumbered
balances for the departments and categories shown on
Exhibit "D" shal! be carried forward and reappropriated to
those same departments and categories in the fiscal year
2004-05 budget.
SECTION 6.The City Manager is authorized and
directed:
A. To close the fiscal year 2003-04 budget accounts in
all funds and departments and, as required by the Charter
of the City of Palo Alto, to make such interdepartmental
transfers in the 2003-04 budget as adopted or amended by
ordinance of the Council; and
B. To close various completed Capital Improvement
Projects as shown in Exhibit "C" and move the balances into
the respective reserve funds indicated in Exhibit "D"; and
C. To establish reserves as shown .in Exhibits "E",
"F" and "G" for all Funds as necessary to provide for:
A reserve for encumbrances and
reappropriations in the various funds,the
purpose of which is to carry forwardand
continue in effect the unexpended balance of
appropriations for fiscal year 2003-04
departmental expenditures; and
(2) Reserves for Advances to Other Funds and for
Stores Inventory in accordance with
ordinance and policy guidelines; and
(3) A reserve for general contingencies of such
2
amount that the City Council has approved;
and
(4) Reserves for utilities plant replacement,
rate stabilization, and other reserves in
accordance with Charter and policy
guidelines.
D..To fund the Budget Stabilization and Infrastructure
Reserve in accordance with the General Fund Reserves Policy
adopted by the City Council; and
E. To fund the Equity Transfer Stabilization Reserve
in accordance with the General Fund Reserves Policy adopted
by the City Council.
SECTION 7. The sum of One Thousand Seven Hundred
Fifty-One Dollars ($1,751) is hereby transferred from the
Youth Services Functional Area for the Police Department to
the Special Revenue Local Law Enforcement Block Grant Fund
as operating revenue as described in Exhibit A. The balance
of the Local Law Enforcement Block Grant Fund is increased
to $103,261.
SECTION 8. The sum of Nineteen Thousand Two Hundred
Sixty-One Dollars ($19,2~i) is hereby transferred from the
Special Revenue Local Law Enforcement Block Grant Fund
(LLEBG) to the Recreation Services Functional Area for the
Community Services Department as operating revenue as
described in Exhibit "A". The balance in the Local Law
Enforcement Block Grant Fund (LLEBG) is reduced to $84,000.
SECTION 9. The General Fund Equity Transfer
Stabilization Reserve is hereby increased by the sum of
Eight Hundred Three Thousand Dollars ($803,000) from the
Stabilization Rate Reserves of the Utilities Department
Funds as follow:
Utilities Fund Amount
Electric Distribution $ 300,000
Electric Supply $ 300,000
Gas Distribution $ 101,500
Gas Supply $ 101,500
Total $ 803,000
The General Fund Equity Transfer Stabilization Reserve is
increased to $2,338,000.
SECTION i0. The General Fund Budget Stabilization
Reserve is hereby increased by the sum of Three Million
Twenty-Nine Thousand Ten Dollars ($3,029,010) as described
in Exhibit "A". This transaction will increase the balance
in the General Fund Budget Stabilization Reserve to
$21,428,478.
SECTION Ii. The Electric Supply’ Rate Stabilization
Reserve is hereby decreased by the sum of Three Hundred
Thousand Dollars ($300,000), as described in Exhibit "A".
This transaction will reduce the balance in the Electric
Supply Rate Stabilization Reserve to $58,562,000.
SECTION 12. The Electric Distribution Rate
Stabilization Reserve is hereby decreased by the sum of Two
Million Three Hundred Thousand Dollars ($2,300,000) as
described in Exhibit "A". This transaction will reduce the
Electric Distribution Rate Stabilization Reserve to
$7,557,000.
SECTION 13. The Electric Public Benefit Program
Reserve is hereby increased by the sum of Two Million
Dollars ($2,000,000 as described in Exhibit "A". This
transaction will increase the Electric Public Benefit
Program Reserve to $2,082,000.
SECTION 14. The Gas Supply Rate Stabilization Reserve
is hereby decreased by the sum of Five Hundred One Thousand
Five Hundred Dollars ($501,500) as described in Exhibit
"A". This transaction will decrease the Gas Supply Rate
Stabilization Reserve to $6,822,000.
SECTION 15. The Gas Distribution Rate Stabilization
Reserve is hereby decreased by the sum of One Hundred One
Thousand Five Hundred Dollars ($101,500) to fund the
General Fund Equity Transfer Stabilization Reserve as
described in Exhibit "A". This transaction will decrease
the Gas Distribution Rate Stabilization Reserve to
$6,703,000.
SECTION 16. The Refuse Fund Rate Stabilization Reserve
is hereby increased by One Million Two Hundred Seventy-Five
Thousand Dollars ($1,275,000) as described in Exhibit "A".
This transaction will increase the Refuse Fund Rate
Stabilization Reserve to $6,135,000.
SECTION 17. The Technology Fund Retained Earnings is
hereby decreased by Twenty Thousand Five Hundred Thirty
Dollars ($20,530) as described in Exhibit "A". This
transaction will decrease the Technology Fund Unrestricted
Retained Earnings to $5,566,000.
SECTION 18. Upon completion of the independent audit,
detailed financial.statements reflecting the changes made
by the Sections 7 through 17 of this ordinance, shall be
published as part of the annual financial report of the
City as required by Article III, Section 16, of the Charter
of the City of Palo Alto and in accordance with generally
accepted accounting principles.
SECTION 19. As specified in Section 2.28.080(a) of
the Palo Alto Municipal Code, a two-thirds vote of the City
Council is required to adopt this ordinance.
SECTION 20. The Council of the City of Palo Alto
hereby finds that the enactment of this ordinance is not a
project unde{ the Califorhia Environmental Quality Act and,
therefore, no environmenta! impact assessment is necessary.
SECTION 21. As provided in Section 2.04.330 of the
Palo Alto Municipa! Code, this ordinance shall become
effective upon adoption.
INTRODUCED AND PASSED:
AYES:
NOES:
ABSTENTIONS:
ABSENT:
ATTEST:
City Clerk
APPROVED AS TO FORM:
City Attorney
APPROVED:
Mayor
City Manager
Director of Administrative
Services
Exhibit A
CITY OF PALO ALTO
2003-04 YEAREND BUDGET SUMMARY
DETAIL CHANGES TO THE ADJUSTED BUDGET
10200000 20520
10200000 20530
80060233 20640
600,000 GFTSR year-end transfer from Electric Fund
203,000 GFTSR year-end transfer from Gas Fund
19,261 Transfer in grant funds to General Fund to reimburse eligible
PAY program expense
10200000 40410 (3,011,500) Homer Avenue loan reversal entries
70040003 40640 1,751 Transfer to LLEBG fund for 10% police grant match
10209000 38220
10200000 38310
3,029,010 Budget Stabilization Reserve
803,000 Transfer Stabilization Reserve
70249001 20110 1,751 Transfer to LLEBG fund for 10% police grant match
70249001 40110 19,261 Transfer out grant funds to General Fund to reimburse eligible
PAY program expense
Use Chan~es -,.19,261
Net Chan~esTo (From)_(17,510)-
Fund Balancinq Entries ~_~-,----
70249001 38500 (17,510) Other Fund Reserve E~alance
INTERNAL SERVICEFUNDS
40070001 19440 (27,199) Year-end adjusting entries to reflect actual transactions
40070001 20580 (20,000) Year-end adjusting entries to reflect actual transactions
40070102 19370 (2,345) Year-end adjusting entries to reflect actual transactions
40070103 19380 (465) Year-end adjusting entries to reflect actual transactions
40070202 19420 (1,835) Year-end adjusting entries to reflect actual transactions
40070203 19430 (848) Year-end adjusting entries to reflect actual transactions
Source Changes
40070302
40070001
40070001
40070102
40070603
32100 (100,000) Year-end adjusting entries to reflect actual transactions
39010 42,341 Year-end adjusting entries to reflect actual transactions
40600 45,000 Year-end adjusting entries to reflect actual transactions
35040 (40,033) Year-end adjusting entries to reflect actual transactions
38790 20,530 Year-end adjusting entries to reflect actual transactions
Use Changes ! (32,162)
Net Changes To (From)(20,530)
Fund Balancing Entries
40070001 38300 (20,530)
Exhibit A
CITY OF PALO ALTO
2003-04 YEAREND BUDGET SUMMARY
DETAIL CHANGES TO THE ADJUSTED BUDGET
Source Changes ~ ¯-0 -
20000020 40110 300,000 GFTSR year-end transfer to General Fund
20000030 40110 300,000 GFTSR year-end transfer to General Fund
20030105 32990 (10,294) Transfer Other Fac. & Equip. Purchases to cover Purchases
20030106 36110 ’10,294 Transfer Other Fac. & Equip. Purchases to cover Purchases
20040102 31010 (179,881) Transfer Joint Agency and Legal budget to cover Purchases
20040102 ¯ 33150 (912,248) Transfer Joint Agency and Legal budget to cover Purchases
20040102 36800 1,092,129 Transfer Joint Agency and Legal budget to cover Purchases
Use Changes--600~000 --’-
Net Changes To(From)-(600,000~ -,.
Fund Balancinq Entries ¯~’__
20000030 38170 (300,000) Rate Stabilization Reserve
20000020 38040 (2,300,000) Rate Stabilization Reserve
20000020 38160 2,000,000 Rate Stabilization Reserve
20000050 19620 (400,000) Reduce Gas Sales to City Departments
Source Changes _(400,000)-:~ ....~ __
20000040 40110 101,500 GFTSR year-end transfer to General Fund
20000050 40110 101,500 GFT~R year-end transfer to General Fund
UseChanges 203,000
Net Changes To (From)(603,000)
Fund Balancing Entries ~- -
20000040 38040 (101,500) Rate Stabilization Reserve
20000050 38170 (501,500) Rate Stabilization Reserve
Exhibit A
CITY OF PALO ALTO
2003-04 YEAREND BUDGET SUMMARY
DETAIL CHANGES TO THE ADJUSTED BUDGET
20040302 32990 (2,000) Tmns. Other Supplies & Materials & Fac. Equip. to Purchases
20040302 35990 (1,000) Trans. Other Supplies & Materials & Fac. Equip. to Purchases
20040302 36030 3,495 Trans. Other Supplies & Materials & Fac. Equip. to Purchases
20030506 32990 (495) Trans. Other Supplies & Materials & Fac. Equip. to Purchases
Net Changes To (From)~
Source~han~es 0
50050201 38790 (1,275,000) Return of budget CIP RF-45900 to Refuse RSR to provide
additional funding for single stream program
Us~Change~(1~275~000 ¯
Net cha~gesTo (From)~275,00 ..........
FUnd Baiancing~ntri ; .......
50050001 38040 1,275,000 Rate Stabilization Reserve
Exhibit A
CITY OF PALO ALTO
2003-04 YEAREND BUDGET SUMMARY
DETAIL CHANGES TO THE ADJUSTED BUDGET
40070411 18980
40070411 20600
(140,033) Year-end adjusting entries to reflect actual transactions
45,000 Year-end adjusting entries to reflect actual transactions
40070411 39010
40070411 39370
40070411 39380
40070411 39420
40070411 39430
40070411"39440
40070411 40600
(42,341) Year-end adjusting entries to reflect actual transactions
(2,345) Year-end adjusting entries to reflect actual transactions
(465) Year-end adjusting entries to reflect actual transactions
(1,835) Year-end adjusting entries to reflect actual transactions
(848) Year-end adjusting entries to reflect actual transactions
(27,199) Year-end adjusting entries to reflect actual transactions
(20,000) Year-end adjusting entries to reflect actual transactions
47100000 15010 3,011,500 Homer Avenue loan reversal entries
47100000 15990 (300,000) Reduction in unneeded grant revenue for CIP PE-93010
47100000 20110 (3,011,500) Homer Avenue loan reversal entries
47100000 38790 (300,000) Reduction in unneeded grant revenue for CIP PE-93010
Exhibit D
Revenues
Property Taxes
:Sales Taxes
Utility Users Tax
Transient Occupancy Tax
Other Taxes, Fines & Penalties
Charges for Services
Permits & Licenses
Charges to Other Funds
Rental Income
Other Revenues
Add: Operating Transfers In
Prior Year Encum & Reapprop
Expenditures
Administrative Departments
Community Services
Fire
Planning
?olice
Public Works
Non-Departmental/School Site
Add: Operating Trans Out
2003-04
Adopted
Budget
2003-04
Adjusted
Budget
13,556 14,100
19,335 17,400
7,498 7,300
6,300 5,549
6,724 9,305
17,678 17,755
4,721 3,403
8,816 9,396
11,658 11,658
10,462 6,967
14,476 14,383
4,279
14,738 16,595
24,946 25,660
18,917 19,054
8,946 10,309
23,609 23,999
11,348 11,634
6,459 .6 242
11,747 7,403
2003-04
CAFR Basis
Rev/Exp
2003-04
Allocated
Charges
2003-04
Encum+
Reapprop
13,740 n/a
18,151 n/a
7,152 n/a
5,489 n/a
11;295 n/a
16,018 n!a
2,560 n/a
9,309 rda
11,472 n!a
300 1,925 n!a
17,888
4,279 n!a
13,864 1,017 1,021
19,926 3,618 729
16,891 1,909 179
7,933 586 794
19;862 "~ 2,i09 313
8,208 2,101 207
7,677
9,180
2003-04 2003-04
Budgetary
Rev/Exp Variance
13,740
18,151
7,152
5:489
-11,295
16,018
2,560
9,309
11,472
2,225
17,888 3,505
4,279
15,902 694
24,273 1,387
18,979 75
9,313 995
22,282 1,716
10,517 1,117
7,677 (1,435"
9,180 (1,777’
(360)
751
(1
(60)
1,990
(1,737)
(843)
(87)
(186)
(4,742)
CAFR Recon ciliation:Current year encumbrance/reappropriations
Prior year encumbrance/reappropriations
Current year stores adjustment
Prior year stores adjustment
CAFR Net Income
3,244
(4,279)
(14)
119
525
Exhibit E
,CAFR Fund Balance
Less: Encumbrances
Reappropriations
Adjustment for Stores Operations
Budget Stabilization Reserve
Reserve For Infrastructure Improvements
Notes Receivable Reserve
Stores Inventory Reserve
Unrealized Investment Gain/Loss Reserve
Reserve For Equity Transfer Stabtization
Reserve For Emergencies
Adjustment for Stores Operations
Balance Net From Balance
@ 06130/03 Operations @ 06130104
66,308 526 66,834
(4,853)1,880 (2,973)
(312)(89)(401)
(119)105 (14)
21,395
33,376
1,276
2,027
1,534
1,535
0
(119)
68 21,463
2,505 35,881
(19)1,256
493 2,520
1,534)0
803 2,338
0 0
105 (14)
Adjustment foe Stores Inventory Encumbrance
Adjustment for Stores Operations
0
(14)
Exhibit F
REVENUE
2002-03
AcUEnc
Reapprop
Water sales 17,300
Bond Proceeds -
Other revenues 1,642
Bonded Reappro/Encum 3,768
Restricted Bond Proceeds 3,2i3
Reappropriations I Eric 5,419
EXPENSES
Purchases 5,735
Other Expenses 10,147
TOTAL OPERATING EXPENSES 15,882
.~apital Expenses 14,116
2003-04 2003-04 $ Variance
Adjusted Reapprop Favorable
Budget Actual/Enc (Unfavor.)
2O,976 21,477
1,277 43O
5,291 5,291
6,573 6,573
5O2
(847)
7,450 7,453 (3)
10,914 11,338 (424)
18,364 18,791 (427)
19,166 19,176 (10)
REVENUE
2002-03
Ac#Enc
Reapprop
Electric retail sales 68,849
Electric wholesale sales 4,233
Other revenues 3t ,938
Reappropriations /Enc 14,078
EXPENSES
Purchases 37,463
NCPA & TANC Debt Svc 5,762
Other Expenses 43,222
TOTAL OPERATING EXPENSES 86,447
Capital Expenses 20,561
2003-04 2003-04 $ Variance
Adjusted Reapprop Favorable
Budget Actual/Enc (Unfavor.)
72,102 68,675 (3,427)
4,410 4,424 14
23,389 20,792 (2,597)
15,928 15,928
40,225 41,322 (1,097)
5,656 4,744 912
38,304 37,527 777
84,185 83,593 592
25,119 20,904 4,215
Page 1 of 4
REVENUE
2002-03
Ac~Enc
Reapprop
Gas retail sales 29,279
Gas wholesale sales
Other revenues 2,008
Bond Proceeds
Bonded Reappro/Encum 2,343
Restricted Bond Proceeds 6,600
Reappropriations / Enc 1,631
EXPENSES
Purchases 15,329
Other Expenses 11,109
TOTAL OPERATING EXPENSES 26,438
Capital Expenses 11,224
2003-04 2003-04 $ Variance
Adjusted Reapprop Favorable
Budget Actual/Eric (Unfavor.)
26,985 24,162 (2,823)
3,643 2,747 (~96)
3,260 3,260 -
! ,968 ! ,968 -
1,516 1,516
17,664 15,997 t,667
13,876 12,980 896
31,540 28,977 2,563
10,581 9,860 721
2002-03
Act/Enc
Reapprop
REVENUE
Revenues 11,348
Reappropriations /Enc 6,876
EXPENSES
Sewer Treatment Exp.
Operating Expenses
TOTAL OPERATING EXPENSES
Capital Expenses
Principal Payments
4,908
3,492
8,400
10,857
46
2003-04 2003-04 $ Variance
Adjusted Reapprop Favorable
Budget Actual/Enc (Unfavor.)
13,477 t2,553 (924)
7,948 7,948
6,109 5,304 805
3,430 3,799 (369)
9,539 9,103 436
12,952 12,613 339
47 47
Page 2 of 4
REVENUE
Operating Revenues
Restricted Bond Proceeds
Reappropriations /Enc
Bonded Reappro/Encum
2002-03
Ac#Enc
Reapprop
14,233
162
3,718
136
EXPENSES
Operating Expenses 12,733
TOTAL OPERATING EXPENSES 12,733
Capital Expenses 4,983
Principal Payments 284
2003-04 2003-04 $ Variance
Adjusted Reapprop Favorable
Budget Actual/Eric (Unfavor.)
17,342 14,729
60 60
2,866 2,866
189 189
(2,613)
14,289 13,276 1,013
t4,289 13,276 1,013
5,575 5,646 (71
299 299
REVENUE
Revenues
Reappropriations / Eric
EXPENSES
Payments to PASCO
Other Expenses
TOTAL OPERATING EXPENSES
Capital Expenses
2002-03
Act/Enc
Reapprop
22,725
2,549
7,965
17,076
25,041
1,991
2003-04 2003-04 $ Variance
Adjusted Reapprop Favorable
Budget Actual/Enc (Unfavor,)
23,294 21,930 (1,364)
2,527 2,527
8,356 8,356
18,383 17,174
26,739 25,530
1,001 1,001
1,209
1,209
Page 3 of 4
REVENUE
2002-03
Ac~Enc
Reapprop
Revenues 3,187
Reappropriations / Enc 216
Bonded Reappro/Encum 364
Restricted Bond Proceeds 80
EXPENSES
Operating Expenses 2,174
TOTAL OPERATING EXPENSES 2,174
Capital Expenses 1,060
Principal Payments 275
2003-04 2003-04 $ Variance
Adjusted Reapprop Favorable
Budget Actual/Eric (Unfavor.)
3,011 2,481 (530)
202 202
2,109 2,490 (381)
2,109 2,490 (381
74O 310 ¯ 43O
290 290
2002-03
Ac#Enc
Reapprop
REVENUE
Revenues 600
Reappropriations / Enc 3
EXPENSES
OperatingExpenses
TOTAL OPERATING EXPENSES
CapitalExpenses
2003-04 2003-04 $ Variance
Adjusted Reapprop Favorable
Budget Actual/Eric (Unfavor.)
628
628
745 629 (116)
23 23
748 658 90
748 658 90
Page 4 of 4
Exhibit G
FISCAL YEAR 2003-04 Water Electric Gas WWC WWT Refuse Storm Ext Svc
Beginning Reserves $11,503 $136,671 $19,639 $4,540 $7,721 $8,799 $743 $8
To (From) Reserves (4,196)5,322 (5,184)(1,262)(1,377)(2,074)(407)(6)
Adj Budgeted Reserves 11,268
% of Budgeted Reserves 65%
Total
$189,624
(9,184)
144,437 18,339 3,981 7,723 10,076 742 9 196,566
98°/o 79°/o 82°/o 82°/o 67°/o 45°/o 22°/o 92°/o
FISCAL YEAR 2003-04 Water Electric Gas WWC WWT Refuse Storm Ext Svc Total
$6,178 $2,723 $4,625 $6,135 $336 $0
58,562 6,822
7,557 6,703
6,178 66,119 13,525 2,723 4,625 6,135
1,129 2,451 896 555 1,719
70,464
664
34
590
336
Rate Stabilization
General RSR
Supply RSR
Distribution RSR
Total RSR
Emergency Plant Replace
Calaveras
Underground Loan
~Conservation Loan
!Water Resources Board
!Shasta rewind Loan
ICentral Valley Project
!Public Benefit Program
External Service -13"
External Service - HR
64
149
2,082
$19,997
65,384
14,260
99,641
6,750
70,464
664
34
59O
64
149
2,082
2
FISCALYEAR 2003-04 Water Electric Gas WWC WWT Refuse Storm Ext Svc
Beginning RSR $10,449 $65,458 $18,747 $4,019 $6,090 $8,209 $743 $0
To(from) RSE (4,271)661 (5,222)(1,296)(1,465)(2,074)(407)
RSR Maximum 13,071 37,527 11,164 7,909 4,863 3,734 491 N/A
RSR % of Maximum 47%176%121% 3’4% 95%164%68% N/A
Total
$113,,715
(14,074)
78,268
127%