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HomeMy WebLinkAbout0502.094.- TO: -,-,-_ ... ,-'---._. City of Palo Alto _____ ~!ty Manager's Summary ~_eport HONORABLE CITY COUNCIL ATfENTION: JoTh'ANCE COMMITfEE CITY MANAGER DEPARTME1~1: F!N~"CE AGENDA DATE: NOVEl'dBER 17, 1994 CMR: 502:94 SUBJECT: 1993-94 YEAR-END FINANCIAL SUMMARY/CAPITAL IMPROVEMENT PROGRAM (eT!') FlNANCI,u, STATUS ImPORT AND BUDGET CLOSING AND APPROVAL DF BUDGET ~\fENDMEr.l ORDINANCE REOUf';,}J: This report requests aJoptfon of tht:; 1993·94 year··end closing ordinar,ce. RECOMMENDATIONS Staff recommends that the City Counell adopt the attacht'o ordinance authorizing: 1) closmg of the 1993-94 Budget; 2) reappropriating lunds into the 1994·95 0rcrat:ng Budget and 3) ciosing various capital improvement project balarlc.es, for projects which have been completed, to the Budget StabiJi7.ation Reser,.. POLICY IMPLICATIONS Adoption of the )'ear~end clos.ing OIdinance dC/(."'S not represent a change of exhting Jl<llicies. ~CUTIVE SUMMARY Thts report summarizes the [manciaI results tor the tiscal year 1993·94, for the Generat Fund.. Enterprise and Internal Service Funds. It provides an analysis of the perfonnance of each fund in compmi",n \0 the budget, as adopted by Council and adjusted throughout the fiscal year. To the extent applicable, changes in the various factors affecting the Cii,Y'S financiaJ performance are identified. and the impact of such ..:ha.nges are asse5sed. CMR:502:94 Paie I or 27 , ., \\, r" . .' ~-."-'---- .". A Year-end SUlTunary section presents significant fmandal results and trends from the 1993·94 fiscal year. This is followed by a more detailed analysi, of the revenues, expenses and "".ry,," of the City's principal funds. There were no significant d.>iations from the Adjusted 1993·94 Budge~ a document ,,-hi"" is continually updated (0 serve as the financial plan 1o, the City. The City'S financial position remains healthy, with the General Fund reporting a net operating s"'l'lus of $ 792,CVO, and retaining a Budget Stnbiliwtion Rosen'e within Coundl· established guidelines. The EnteY]lnse Funds (with the exception of the Storm r>ra.L"1.3~Tt: Fund) also ~nded the year with resm'es well '.vithin COUI1Cil reserve guideline Ie\e!s. fISCAL IMJ'ACT Adoption III' ille atwcfled ordinance allows for the cafT)'-(wer of funding from the 1993~ 9 ... budgt:t tor the (;ompktion of c;pe,ific programs or projects in the Cl.lm'Ht fiscal year. In additjon, cl,)sing of compieted capilal improvement projects balances to the res.cr\"c accot!Jlt !"eleasc~ unspent monies for further appropriation by Council. U-V IRONi\1[I .... r AL ASS ESSMEJ'f I Fiscal year-end closure is no: a proje<:t fOJ purposes Df the California Environmental Quality Act. ATIAPIMENT 1993·94 Year·End Summary PREPARED BY: Carol Ferrell, Accoun~.i .. n.g .. _.~ .. ~ alger, (' DEPARTMENT HEAD AFFROVAt': en (bJ flo I I l.,b. J Emilr ifarrison -. r.f ~tor of Finay§I.f,~ CITY MANAGER AFPROV AL: , ' ~e 2 or27 ! ," 1993-94 Year End Summary GENERAL FVND rfHDursvs.tx~nditures s u.a.._ " r-" sales ta \ ,',' FtmJ s.enkme&l: in tbt:: di;pulo::i a!J<A~'f~ ~.r s,:J.,;:, !.i\ r';f I",,: -'11 .. as ,c; • .::h"d i.. .. L; \ ear Prior:<CoU" :djM$1!7UJlS [n thee it\ '5-.,;;J1.:i.l.i.\ ;>.]l~'.;a.Jj",n (;Dm LIh." s...!\: h;n" bc-cr. fl!L.~li!cd. ~i.."'!:~ f,~ iI: mofC a..:;;ura!e pi~~;;: of ~ks td\ r,~. c:nu~ tr;':r"':1. geoenl fund rescn'e5 , .. " 'il: Stabili[\ ill ih('-ntio)oftbo: B~.:! S~ili/.llk'n Rc',t:f\" [("]~tirl,t! "'{X':I..:l~Iun.;.i t:>3 )is;l .. )f~L<;tain;.:d Hna<lci.a.I health YearEnd Highlights ""'" .. ["",50 __ ,"- D:;:spih.~ iI!l:.r~ ~ on JOO1l t.;;.. .. n:\ etluc:s by the SWc:, and onir m.... ... denllc gro,.th in the rtgional I."COOl'Un). t."\c em experienced liQ ~5oC In la, .... es and tine-;; of 5 .5% 0\ er !...~priorfi~...J ~e:ar. The Gmernl Fund ,Xl!;tcd all Opt.-"r.lting su,-plu.<; of $)<l1,: ~~!, alh,w, IngtlY.;-Bl!d,g~ Stahi· li/:Ul<:,n ~c:<>,!rH' 10 r.;m.;L" withi.r. C Ot:iT',..: 'tl ,:<.1:.1: I i~hN guiJel:lles. o SIIIle--l T!'.-"I • 5311.":; 1:3,\ ti~.urcs, af,er 3d! l!.~jjt1l' r (',m.J.jur I c:nl10CJ i:Onspcr· l<lln :]l~ I 0 ~riuT ,H'd]:" rCrnJinu;l i1.'l.l d'LrrlGg Cdlilcmi."s prol'J[1ged «X!~ rI0rn~,'d0''oI'lllm H0'" ",,'u, 1'.!9VJ-t "'!~" \,'-\ fC<> (nu~~ looo\\ cd a rnoo.(.'1-t \w~,..-;;,::"" in tli(" t,nal qtru1.CT;-,,-1h'ity, ilJ.;1!'':;.1U.1l.!;~ a "jI,~6 grol'>th o,'et" the s.<lm.,; q'J.Ui cr last' ear o ProptM) TiU~ A(.11L.llpropen) ta-'::e$ {Dr 1 <J>,11_',).\ ",'10~; <l 7.5% deoCJ>se Q\<.'rEheprkr.\Nr, n)i.,a.liti!;;ipal~ d,:,\'Jj,v; .... !1.S due 1(1 WI: di\'crs.ion ,:,f 51 ,1IrUl!i,JIl in~'Ia.\ re\'(.flues to scoc'Ols in the Stilie 8ud~_ The Cowm's-"Teel-et Plan~ bu~oUl cf del ~I ;,ccurcd P,,'"opeo-'t\ ta ... es offSCl lhc dc-creasc-bi-S4-86 .000. O~f_ ~t::!l-TheGener.!l F""' ... xl'!' Budget SUbil il::ation Reseryc aI6l.l0!9.-.,.,.as S 12 ,) miUion, IYO/IIM opemting .:-~tulC') rO(" the year. This. is 'A ilhii"l the 1 O--J~~ r-.mge csl:\bli5h«J b~ Cow,ciJ for mis rC~:7\C, n.,s. ~'C aUoi'.~ f>Omc ~bilii' in ilicf~iA'offUl:~y()1:lliljt~ ill the State's polit.iC3l~.!ld ccooomi~ cn\iroi..menl a ClilPltallmpnn-eMaltl ... RewgnUing the nc.;:d for inf'ra.su\l(.1ure mairue- I n.aac(' and i mpro\ c:mans,bUllindlcd ~ I) \ comil ItliIog bu..1gC1at:-constrJ.iniS. I tlK:budgcrpro\id<.::dS',7~mill:CI"!lfor ~GC!Jcral fund Capital Proj\Xts., N~' proj ects (mphasized par\; f.lei lity impro,'cmcrus. ~ .... l':Il as ad\','loc-oo (ompmc:r.l;~ !items dc\,dopmcnt ·1 j c YearEnd Higbligbts (""ntinut'd) I o Ekrtric: had -A $J6."] m.il!iOf'l rebate LJ electric CUSk'!m<TS. fT'..1dc pcs!Iihte b)" POl\et ~ (~ savingSand a fu.urabl.: outcome to I prior years' ~ transmission dlargc5.1W3Sccmplct:edh11'X1~·,}.J F3"."orable raecs!O customers" crt: presern~d The ending res-"f'. C' I b&:tMce!s sol.idl~' ~ i.tltin the t.'lrgej I ,m~mle\d, o G~Ftmd'Thel'~')1.<) .. op...."'T7l1ir,g!1 SillpJu.~!:llu-I;.~fund;lih hI~:<ch thc, ~I! of i ['W~ Ita.'1> mi :i'i>l,")n w~l\ ~ on gas pur.:hJ.:'~:; U:l.:; s~,-k~ ~c I C"cI>1C'm~~~,;,e 2~"kIL1\\ bl:(: .• :':: dl.t te sJ'gIlli;. .,.. ;if'I1;n th • .'ifl '" ~;.' wi:r.1;r m~'",fHhs in H")V; .. l, .. tlHt I J"%(!Jye baJ<lJ'.c.:~rem::.in stron,". (')1 trus fund I WatcrFlClilU -Th-':WUlIg fiJ ... n~l.1J comeback of l.h.~ \\,HeI Fund .al~J\IIr 00 b~ th,,;-er.d (If dTOllg.hl Q.lOditiQns. in 19';J2-~"4, oontinc\!s Bolste:-ro by sl!tmg s."\les, faYIol{-1 abk: expendlture \,whlh.'\.-"'S .::J.>d. a reduced tnw..ster to h'1''; l..J.enern] F!.Wd. the Ftmd'!> 6/3OrJ.t rtS(:r".c baI.mce was \'tTy cJ('SC 10 me t.1rg<.1 krn:l of the reserve gu Ideli!t~ <'ICIcpted ")' Council. o s.on. .......... -ThoStoonDr.!in Cooditioo ~i.I and Storm I Dlam Master Plan S(1.)ji f.'S IH"'[" ..... coroplel€;Jj in i99 .. t ) iddmg fI rcc()mm;.·odation for a lIJ.~ car program to replace or fl!pair damaged pipelines and w in~ !o)'5!eru Cilp3citl C} ;.-oQs:tructiflg new pip<;Il[lICS The ~ru1KlsOO proj<.>ct..<;'I-\'t'l""epricritilw A 1 .. ~ (".<iT prognlm "il~ d~"dvptd and ;l public outreach program .... iil be initiated to a5.(.-erta,ia the le\"et of oommullily interest in these in1~ prO'l'emef]1S .. -..••. -"',.. .. ---~. "'-"~- L , C<TY OF pALO .AL TO Ll...T1LfTlES electric rl'serves * • R..;h\' 51;ili i j)..1li In R &'f\ ~ (>r..h • pri,~ lC' i ':N!--, ~ thC">C r .. -:. .... ,-, ,,"\ \; ."fC rcp:Jf1ui as· S~ ~",m im-pw'. ,,:m-::ll! Jr,j lr;u"J,'f -:;'L-4t'lh/..lti":1 P.cv.'"i"\ ... ~, ~'o):r\tIHl~--J U Rrl'i.-l'lll" fund-b., ~-':~,I }.'nJ:a;;J.11 II "IILl" citi~ c-r~un.·n \3\ ~ and \w'waai n \ k--'\. Palo AJto be!W1 to r~ I,h-<..· b.:::ncfits or S\hRT (Sun:i~~)1c ,\!,:n"rj:>~~ .Hd R,;:.;(l\ er. TranMcr Su.ti.'n I 'Jp-__ ntkm~ \n().,i~ 1'1'.'1 T'nd·II~\p..'-I1:~ip:.;:'.'f1 .0\ It~ ':1,,,'!J;.. 1!:"-1 ,j !~r",,,=,,_ ,\1: .",I:L l': , .. u!io.lb);:: J1lJt';ri.-li:;. ;'1": ~"hJf..:J rcdll,,'in~ U-,r.' ~3.""',-~!rCJm .,~ lbe 1':11", .~oReftl<;cDi~sal .-\r';;l. 'iMprokr'f,­ irIgL"~ lif';:{1i'thc-!.:-.rlJfdl -----~ ,J W"Si-t,..;tkr ('f.~k<tko=: I.,,:,''''''.' J U'Calm.::,-;.1 cha.'"g~ fmlllLhc Rcr,iornl \~ -31cr(luJh!~ T ,,","'1L~f'Iant IW,au( ~"jr.~ (,:'" \\.NnlJltr Ccik..:tion 0pcr311~rErh!,,_\C-.l!' 'f{~.:I ..... cls " .. "1:-j1tfl\ ';i~c'Li.~1 I,' j',;~d JlI .":,:r.;,,.,i .. c'II:[r: ,:r~ .. I;i;-.. ::;r':'l'T,nl~n I'-~"'-:' \ ,\ "\ \ . \ \ iii __ •• City of Palo Alto City Manager's Report --~ -------.~ --------- SUBJECT: 1'193-94 Year-end Fin.ucial SummarylCapitJIl Impronm •• ! Progn. ... (CIP) FinaDcial Stat", Report aDd Budge! CI05in~ RECOMMENDA TIO~~ Staff rcc-ommcrLd ... that the City Council adopt the atta,;;ho::d nrd[nance autn,)riziflg' n ctoslng of the 1993-94 Budget; 2) reappropriating hmds int(1 the 19i)4~Y5 Opcraljnf! Budget~ and 3) cim;ing \'ariO~3 ca}'lita\ iffi?10\'Crr,ent proje(:1 b'.1!arH:t's. for pri)jeO::b \\"h"!cn have been compl~ted. to !ht BuJget Stabilization Rese{"ve, !!AQ(GBOUNll This report is provided to Council as pan of the ris.cal ye:ar-t'nJ .:.:Io'iing process. If compares. the res.ults of the City's General Funds and Enterpr\se Funds. opo..."'"!"attoos. to the adjusted hudge! for the J 993·94 fis".al yCCir. The analys!? contained heTein incorporates the intent of the budget as first adopted in June i993, and th:;: impacl (.If edjustments autll.Ddzc.d as the year progres'icd, [t confirms. fiscal and plJlky considerations discussed in the adoption of the. 1994-95 budg.., and .ltemp'" to identify trends in the factors which may intlucnce the City's tong-tenn tinandal hc-nllh. The Comprehensive Annual Financial Report (CAPR). which will be finalized In D=mber 1994, will contain all the actual finandal results for fiscal year !993·94. for all funds. Since the focus of this report is on budget-to-actual variances, including encumbrances and reappropriations, it refl",ts a slightly different basis than presented in the CAFR. The CAFR wili also rell"'t any subsequent adjustments made by the City's exiernal auditor.;. Deloi!k & Touche. DISCUSSION The following discussion provides an analysis of General Fund and Enterprise Funds performance In comparison to the adjusted hudget. Th, charts which presellt budgetary detail at each line item or fund include year-end commitments for which funds are ctUTied fo!"\\'ard to 1994-95. Amot.lrJs in these ch<l.rts are in thousands ofdollar5. CMR:502:94 -__ ::.. _'., __ ~.2iiiIi'~,;QIO'il: ____ , ... ~" ! ''''''a ''--'" QENERAL FUND The originally-adopted 1993-94 fis;;a1 year budget projected a General Fund operating deficit of S.23 million. Despite increased pressure on local tax revenues by the Slate and a generally sluggish economy, the adopted budget provided tor the maintenance of CUlTent serV1\;e Icvels. In addition, Ihe budget included continued support for police ..,istance in Easl Palo Alto ($324,000), increased funding for capital improvement projects (S.4 million), and one-time funding ror World Cup Soccer ($186,000) and Palo Allo Centennial ($97,000) activities. Coom:il-<!pproved adjustmen Is 10 the budget throughout the year incl uded increased Gt:n«al Fund revenues and receipt of the General Fund portion of the Electric Fund rebate. Appropriatio!lS were made for purcha,,"es of assets (lIT easements. computer system hardware), as wei] as enhanced services sllch as !he Comprehensive Plan, and the Golf Course reclaimed water project. As adjusted, the General Fund budget rt'-flected a net operating deficit of 5248,000, which was anticipated to be otTscc by $500,000 of savings in departmental e."Ipcnses. "nie General Fund ended t'f,e year with a net operating surpius of $792,DOQ, Not only were the departmental expenditure ~,wings ft'alized. blH re'/i!nllts came in 1.2 percent higher than budget oyeralL Pagt 4 or 27 .-. \. ---~ . ,-, . ~ h 1993·94 GENERAL FUND S"",MARY ~., Actual AOj\lste-d I -t-Encumb Blldget Actual +El'lcumb Actual _U!52.,j,J 1~3c~ ,19~ _Eea!lll .-,! . .EncIR~ Oibieoce -..-", , 14,635 14,635 351 I' SaIn_ 13.322 14.264 , Ii Property tu8"50 8.367 7,1397 7.737 7,737 (160) i.'*Y ~ tax 5,.363 5,736 5A&< 5,454 (264) T~ "",,-"oCy Ia> 3,109 3.249 3,301 3,301 52 r ~-.-.---4,333 5,132 5,277 5,277 145 , f s..-: T_ 34.~94 38.309 38,40-1 36,404 104 l' Setvi<;a _ &_ 6,846 7,604 7.912 7,912 308 Jo<-o!~_ts r \~~\ 3,.1;65 3.916 3.884 3,884 (32) :-~ 2,157 1,946 2,012 2012 66 c.'tl'~ re'.-"..'I:'" IJeS .1.3~ 3,1S3 3,351 3.351 198 ,---- T ott i R. eo'" INl Uft 5').461 S2,919 53,563 53.563 644 P:'JS Pnc·r Yr En("_!)'TI:'''Pe9:ppr~"p 1,9C4 3.(',00 3,CnO 3.000 P:!J'S Op.e'f~r':;-Tr.lns~e--s. ~n 16,389 17,ROB 17 ,:5~12 17,502 (104) ---._-'" ----- TOTAL SOURer: OF FL!~DS (,6.754 73,52,) 74,06.5 74.005 540 Exper.d...".. SafarR-s & Benefftr. 44,279 48.191 47.530 2!)O 47.780 (411 ) Cor:trao: Servic.~ 6,8se 8,482 5,78! 2.026 7,807 1675) SIIPpl'es & Materia!s 2,321 2,4:\4 2,084 139 2,223 (211) Genefal E.;J.:pefl~ 8.369 8,212 7.866 53 7.929 (283) Rents, leases &. Equipn':<enl 1.401 1,504 1,253 164 1.417 (67) ~ C/Ia!po< ,>+eI) 489 (827; {196) (196) 631 CootJ!lQel~ 117 (117) Toal Expendftu_ 63,725 68,113 64,318 2,642 66,960 (1,153) '.1 Plus ()pe.-aIing T"""""" Out 3._ 5,66(1 6,313 6,313 653 TOT,t.L USE OF f\JHOS 67,371 73,773 70,631 2.642 73,273 (500) ~ 0penIbng SlJr"Pfusl(De1iClt) 1.383 (248) 3,434 (2,842) 7g2 1,040 :.::::-:::::-",.::::=; ==-::::=:::::;: ::-=~::::.:;:.:;= =:::=.==:::.;: ="'=.:::::=:::= =::::===== 1I0Il' ACT ON RESERVES: Budget Sir,," ali"ii Reserve (1.2 j 5) (907) 3,384 (2,842) 742 1,649 AS 702 R""""", 2,606 Reserve for ~iewa,"s 411 44 (6S0) (650) (694) ReseNe '0:-E~r~r:ae$ 0 0 S~::x-es lnveritOf)' s.. NC"tes Rec~j\l3bi 28 ele. 700 700 85 Amnoes "" (P"{bad<s from) C1her F Uo")d$ (447) 0 0 TOT AI. TO (l'ROM) RESERVCS 1,383 (248) 3.434 (2.54') 792 1,{)40 ====0::.== =::::=:::::::= =:::::::"'=:::-::: ======= ="'=-==== ::====== CM)t,582~ 1'IIg. S of 21 .-.~-...... ., --~--- Sales Tn Actual Adjust<d Actual I Vari.ance 1992-93 Budg<1 J9')J-94 1 'f9J-94 with Budget S13,322 $14.284 SIMJ~ I £351 S:ties l3.,:\ re":enu(', ~hich c~'m,..n~cs-, ap~n .. 1\.1Il1atcly :::n r-en.:em ()f the City's annual reYenue-s .. inc:e-ascJ mc .. :h:ra\el~ in 19"9.~.1}4 ',dwrl c{'mrc-1.f.::d W rril""lr )ca.r5 .. "'he 1993· 9-4 budget, 'LS a.d)%ted Ji mld.\ eM. aS~lJ;r,ed In e r ,,} 1(1 the' r':''':l..'::-~wn and ," 2 JY.=rcent grO\yth in the ~aies u\ "'.l..<:';;;, Thi:;. ,~'~~'ih I~ h .. ii1~ n.·J.!~L~·J rr1)(" ,~.Jk:;. ta,", re,"cnw:s Ca.l now \)e 3J13L) lert J.'-the ('nt·tim~ f\.-..:::I1,.~.'J::~':; hy Ih:..' SL:ll' l~p:ud uf Ftltl,1iiz.att0r. oOa:\ genet~ited fTcH11 ~lIn ,\1i ... 'r":i.~~t¢rn5. fr".C, , fer fl~\:.J! :'.;.',.,r.; l'I'd ;lnJ 199:.', has. be'::n ril1a.i lled (:'("t.' \"tJr·~nJ ,":;'1Jm.m~, .>:.r.!j:'hl A .. :.;diu.-('J. qk, (.1':';-;; i.!':Tl?'astd L2 pe1c-en10H' the prl.'). ytar Th~ h!.j,.t 4'l.WJ"l.er·:; ,"-~h:·:~ t.).X cl.(ii\ 'II~ So!;owcd an 1ncrc:.ase in sales of 4.~ pet"cl;'r.I oyer the SJJi1;:' '1i.l.d!1er (If t.':.c pre\'i(,u:> ) ... 'a:r. Retail sales appe-ar to be driving this moderate" gro~u'. Stii! to be deduned from tuture :;.ak~ tJ.\ rt: ... enue-... i~ an t.'"-:I;TTl.:tled S,7 miliion fmm SB 992, .a reba!e to the kJera! go\~mment res1Jllin~ fwm lh ... ' ! I.NO .. \cr(l~paCe decision. The rebate """'ill be made 0;"(1" a period of 5.i'\ yeaN.. t:Y.:i=-in.n.ing \,o,lth tht:' fourth quarter of catendar year 1Q94, No adjustments to actual sales t.!x fe\ enu~-s were reflected in 1993·94 for this rebate-, Ho ..... ever, the 199-1-95 budget indude-s a Sl2),{){Xi de...l'l".as.e for L~< annual estimated oo<t of SB 992. Pro~rty Tax Actual Adjusted Actual Variance h 1992·93 Budget 199)·94 199:'-94 "ith Budget $8367 $7.897 $7,737 ($160) Page. of 21 • .. _---- .. , -. Total propert)' tax revenues wore 2 pm;enl I"" than the ad.iusle<! budget, and 7.5 pen:<:nt below the .vear-!o-datc figure for 1992-93. The decrease in property ta.",es compared to the previous year 1s due' to the S I.':: mill:oo shift in tax-es to schools as part of the State hlldget. At L1C time the City's 199}-94 budge( was adopted, this d"","",,,,,, had been proje<.:te<! t<' be 51 7 million; the loss ">s adjusted to $1.2 million at midy=. Off;etting this deena .. "'as the ooe-lime bo)' I)U! of delinquent ,e;:urcd property taxes by the County. Thi, clung: L" propert)· Ia\ apportiooment (lbe "Teeter Plan"), adopte<! by the City in November 1'193. resulted in !be =eipt of an additional S486,000. Budgete<! property lax rev."uc, "ero .djuste<! fur both of t.~e;se item, at midyear. Acru..-u property taxes assessed reflect 3 valuation gro\'nh of :!r?ro:ximardy 2. f"crl.." .. "i;[ in 1993-94. Utility Use" Tax Utility user taxes (UUT) assessed on Cit)'-(I'"J,:ncd utiliti.::: \\C!"C I peTc.en: bdl1w last year's actual, and 9 percent below the arnOllfl[ budgeted. The \,arliiIu,::t' from the prior year was., in part, the result of a $73.000 adjustment for prior ye:-ar charge..:; to t."!ltitie-:; which shoul4 have been classified as exempt from UUT charges. lr, additiGn. lo,,"~ electric and gas sales contribute<! to the larger budget variwce. TeJephone UlTTs are 8 percent greater than the prior year, and f) perce'T'!! above the Il..l'(1ount bUdgeted. 'The C[ty neithe-r collects this ta.x., nor does it rc..~ei\'e documt.·n~('Jn from phone comp~nies which would a'5sist in the forecasting of these revenues. CMR:S(Y.UI4 .---.-~ ... -"'-,-....... ~-<""'-.. ------- Tr .... ient OccupaDCY Tax Actual Adjusted Actual Variance 1992-93 Budget 1993·94 1993·94 with Budget ~--------~~--~-----4-----------+--- $3,109 $3,249 $3,301 $52 TnIIlSient occupancy tax (TOT) revenues are 1.6 percent aoove the adjusted budget and 6 percent over last year. II appears that Palo Alto hotels have absorbed most of the originally-anticipated. tax loss from the Hyatt closure. World Cup Soccer generated an estimated $15,000-$40,000 increase in TOT revenue during thlS fisca~ year. This estimate is based on comparing re .... enue receivcd during the sam\! pcri(,d in 1992-9.1- the egtimated grO\\1h that would have O\:currcd n~g'Hdle~~ of World Cup S;.x:cer events, and act'u.t revenue received Other Taxes, .Fin'fs and PClIllIlti!;'s Actual Adjusted Actual Varian;;e I 1992-93 Budget 1993·94 1993-94 with Bodget , . __ ._. $4,333 $5, i 32 $5.277 S145 Transfer tax revenue was 7 percent above the adjusted budg't, ,md 44 percent greater than in 1992-93, Several large property sal"" in the Stanford Research Park generated over $300,000 in transfer tax receipts for the City, In addition to these extraordinary saleS! im.:rea....o.:ee real estate activity continues to generate higher document tax revenues. Motor vehicle in-lieu tax came in at the budgeted level of $2,25 million, This tax was supplemented in 1993~94 by a one·time pa;.tment from the siate ($389,000) as an o[(<;.et to the property tax shift to the schools. Otherwise, motor vehicle in-lieu tax increa:;ed a modest 3 percent over the prior lear. Revenues from parking citations were 14 percent above prior year actuals and the adjusted budget. The increase over lLl.<;t year is due to the move to in-house-processing CMR:S02:!14 ?c' 8 of Z7 ~ .. , _. ~-:--,~ ---...-""-':'--- of parking citations and the in-hotL'l'e parking adjudicati('1fI program. The t:hange to twl.>hot.:r parting was proj~ted to cause a greater decrease in these revenues than was actually lUI ized. Service Fees .Dd Pormils Actual 1992·93 Adjusted Budget 199)·94 $7,604 Actual 1993·94 $7,912 . Varial'l.ce with Budget $30E CTeneraJ FUfld rC\"\,'I1ues for senricc f~{'s and p~rmit5, \\'t!TC 15.6 percent higher than in 1992~,:n, and exceeded th~ ~dju:s.ted budge.( by 4 percent A slgnincant part of the. ine~e~ from the prior year r~sultc;-d frorn t.he addition of a st'cond paramedi<.: unit and 3.r. incrt:'ltSe in paramedk fees "" G. $519,000 increase in revenues. The FiiC [)epEUtrnent's-param~d1c revenue \vrrs actually $59,000 (5 percent) o',:'er 1.he adiusted budget of 51.05 miHion, due to a higher demand for these strvices than proj{'l,.,~cd. rnere wss also a budge:ed increase in golf fees (S85,OOO) to fund the Golf Co:=e 1-.h .. .;!er Plan. Permit fe....~ assessed in the P!ruming Dt:partmem for new construction fdl short of budget by $30,000; permit f"e> for building addit,ons and improvements were $92,000 greater than projected. The Community Services Department's ctass atld program fees were 2,2 p=:ent above the adjusted budget in Recreation and Arts and Culture, netting an additional $73,000, Actt.lAl 1992·93 $2,157 Adjusted Budget 1993·94 $1,946 Actu,] ! 99J·94 $2,012 Variance with Budget $66 _--r __ ~_"""""'-___ _ G<neBl Fund interest income ,otaleu $2.01 million, a decline of 7 percent when compared to 1992-93. The decline is attributed to generally lower interest rates e~ during the first half of the tisc.! ) ear. As a result, the rate of return on the p..'<Ifolio Oecreascd !rom 6.47 perocr.l in 1992-93 10 5.25 percenl m 1993-94, a 19 percent drop, Offs.:;Un~ the dC\..~~ int(TCst rates was a higher average monthly bal= <,,&liable for im'es!maJ~ due in part to the AB 702 funds which resided in the Groeral Fund r ••• ..,'". Application and uansf'" of the AB 702 fund. should be resolved in the C'UT'ra!1 fiS('a! y~. ! i , ,\(m3.j t~1·~>3 (k~':'"r rr.-\'CnlH:S, a -:-.a.~e'gc;.~,' '11.1\ Includes Stau~ <Jnd f:-deral J,"1"ar.ts, property and facility rental~ 'If"ld bales L~t' pn.lperty, C''\ceeded rrojc(:tions by 6.3 percent. ~\l1uch of the ~W-i31j:;;:e (S157.0-)(») \,,"'as e:\.per~enced in prop'~rty rental revenue. ACfU.2;J Adjusted Actu,al Variance 1992-93 BuGget 1993-94 1993-94 with Budget SI6,389 S 17 ,(.()6 S 17,502 ($104) The variance in opc:r'.1ting trJnsf:rs to the GC'i1t!rnl Fund wa.. ... the result of lower rt:imbw-s.ements required from the (Jas Tax Fund and certain federal grant programs than LiUtially anticipated. The timing of the program expenditures impacts these transfer, and <:aUSeS the budget variances. Pact:! 1{) or 27 · , --' -'.' • Salarte. and Benellts Actual Adjusted A~tuaJ Variance t-__ t_99_2_-_93 __ +-_B_u_d,,-get_t_?'l_.1_._94_+-__ t_99_,_' -_94 __ +_~~h Bud~" $44,048 S4K191 S47.nO (S-Ill-, Employee salaries and bencfil ~CCOUnl"i \l.e1"~ hot! \~ith lC"::e; rh.'l!": I r<rc':"f:t l~t-th.; (Judge! UJ1sperL'-at the end of 1993·9~. Sm,i.jt -.j\ int;') ~r· "3i.VY :lnd ,,. • .:::l1imc h~j(igd:'I ~\ere offset by aver), 5Hg:h! on'rage: in In't' Gener-al ft.11: .. 1\ J.lil·--.;~t.:-J t .. :ncflr dH.r~(,':-T.l1::1i sala .... ies and b1;:nefirs for th.e year rdl..'i.-~ J 7.9 r,r:':i.'i',\ i:1Cl.:.~"'l· 111 thi,-L':'\f~Tdi!ur .. • category from lhe prim year. dur: mJ.~r.l~ ;'-1 the in~'!l:'!I.':l ,'f~h.; ),R 71); -3(',ji:c, Jrt lh,: 1992-93 figures used for c,"\mpJJj~c';l. Tne bIgest salary and benefit .>Jvinp v.C'ri:.' e.\pcrkn..:ed If: ;ht: Fcrli,-e ,mJ Flm.nee Departments. In Police Field Sen'ices. a sii\-'mgs of Sl·L',OU{1 in (ii'mim~ W<t:, t.'1c result of lower onrtime required lhan ant:cip3t.:-d for l}!C W(ldd Cup S{'~.:-cer gaJne coverage (S75.0(){1} and East Paio Aito ass,isunc:: CS~.f}{)~'I). in f,let, less t1\("r1ime wa.' incu..'"Ted in Field St:Tvices., in actual do!lar~, than in :.h~ prio)-jl'::~J! ~e-ir. The s,3me C<U1 be said of the Crim~ Pre\'cntlon, 'PtT1>onncl anJ TrJinlng, and Admini.;;tr;::ti..:.tl .arC.iS. In Finance. a year~long ,,'seaney for a Staff ACI:-Oll.i1Llnt !tOf the C.C'neraJ Fixe-d Assets program was mainlY re5tx""lflSible for tilt S W4,()(J() s.a,,·ings in regular salarie~. The 'i'acancy was possible bcca~ the Fixed Asset jr;yentory and associated ~oftware system were not established Wltil the end l)f the tiscal ~car. The Staff AC(;OWHant position will be filled, ",hm the Finance ~I me,'e \0 me four-.h floor is complete4. and allow fiJi ongoing main!en.a.nce 10 !be Cit~" 5 nn\-ly--cstabl ished general fi.~ed asset data base, -----------_._---------- "~~.' , ~.- Conlnet Servic •• Actwil 1992-93 $4,958 .. Adjusted Budget 1993-94 $8,482 Actual ! 993-9~ $7,807 Var-iam:e with BudgC:i ($675) A positive budget variance of g percent was cx:pcTIrnced in this catcgOi';'. Tnt majority of the savings was in PubHc Works, due to less line dearing \"tor¥. r-=qttirt:,d by Utilities. In addition, there were lower expenditures in s!re~! constn.l.cti .... m cont;:ra-..."iS than anticipated. Total savings. ferr contract setYices in the Public \Vc;xs L1epartIl1en( were $24Q,OOO, Significant savings ($100,OOO) also occurred in th~ Poliet: Departmcrll. dlle to fe\\cr applicant background investigations and less use of [hi." ShO(11ing I'an~·t.· hy $\, Nn personneL Programming and C()TnpHter contracts .'11:'0 contributed In Lh~' :-3.\ ing:-., ",iree the Law Enforcement Computer Network fees I,.-vere a!'>::it:~.;;C'd a1 ;a tbt 131,:. uHll'r Lhall on a chargcnper.inqui.r::.; basj~. The balance of the :-a\·ing" :0 contrart ~.:r.'i(',·" was spread across the other G,,,cral Fund departments, Suppu.. and Materi.l. Actual Adjusted Actual Varia.""cc 1992-93 Budget 1993-94 1993-94 with Budget $2,121 $2,434 $2,223 (S211) Actual expenses in this category rell short of the adjusted budget by g,7 percet1I, •. nd were I percent less than 1992-93 actual. A large portion of the current year \'arian('(: was due to lower expenditures in. building and construction matenals in th...-Public Works Department, ,,,,,,'201n Ge •• nll Exp.e .... Acnlal 1992-93 $7,915 '-;'.-, Adjusted Budget 1993·94 $8,212 Actual 1993-94 $7,929 Variance "'ith Budget ($283) The General Fund experienc-ed a positive 3 percent savings in this tatcgory. Almost half of this variance is due to the Police Department'') initiation of a "cite and ~lease" program to lower booking f~ costs. In addition, charges for teicphone and other non~ City lltili1\es were $<17 ,(JOO (12 perce"t) wld.T buog'\. Rents. L~ases, a[!d Equipment -= - Actua~ , i\djll't,d Actual Variance 1992-93 Buuget 1993-94 1993-94 with Budget $1,197 I $1,504 SI.417 (587) The adjusted budget for this "-pe"$. category exceeded actual expenditures by 6 percent, due largely to savings in mlt:.Us and purchase of maintenance equipment in the Public Works and Community Services Departments. AIIonted Charges (Net) Actual Adjusted Actual Variance 1992-93 Budget 1993·94 1993·94 with Budget $489 ($827) ($196) $631 Page 13 or 'Z7 ". I J r ---------;..-~- ----, - S1ving. in this category Vi"'" due mainly to lower charges to departments from the City's <ost pI .. " 'The CQS\ plan dire<:ts the allocation of the «)sts of administrative d<p8rtrnenIs to General Fund line department<, as well as to Enterprise operations. Savings irJ the administ!'ative departments resulted in lower uffsetting revenues to the General Fund_ Thee was less of a demand for General Fund Services. such as Public Wor!u line clearing, for En terpri se operations, This also resulted in less intrafund "" enues th"n budgeted "'<1",,1 AdjusteJ Actual Variance \992-93 BUDget 1993-94 1993-94 with Budge\ ~======N=!A=====:====:S~J=8=7====:======S"=7=O===_=_~1-_-, __ ($!..I2!._==" Tb: bal:tnc!:' in the ~onti".gen! a.c..:ount lefle.r:-ts unspent fund'S from the City ~ .. l;;.naga's non·s,slary cl1ntin£C'n<.:y, whkh beg.m the year at $387,000. Op<nlting Traufers Out 53,(;46 Adjusted Budget 1993-94 S5,660 Actual 1993-94 6,313 Variance with Budget $653 The large variance in operating transfers out Wa:i the result of increased expenditures on Str= and Sidewalks projects within the Capital Projec~, Fund. The General Fund reimburses these e"'Teciitures a~ incurred. These projects \vere aggressively undertaken in ~'le j 99}-94 t'-'<:ai year, Here again, the timing of the project expenditures impacts these tnmsf"" and causes variances from the annual budget. hgt 14 tlr 2'7 ~ I I'] fi • Ggcra! had R_rves 'The IlCI oper1Iling SUl'J'lus in the C~aJ FWld fueled an increase in the Budget SIabilinilion Res«y, (BSR). Also impacting the BSR was the doSl"" of completed ClP pro.i<'rn. The clo,ure of the multiyear S2.1 million Greer Park Improvement project allo ..... ed fOf the unspent bOOget (S 110.7(0) 'c· b< rctun1ed ,,, the Goatral Fund, aJoog vlith It hsndful ()f sma1!et' proje..."1S comple-ted during the fiscat year. Tbe riet effect of these impar.."is to tM City's BSR is s.ho\o\'Tl in the foilov.·ing charL Net from Grn!:Tal Fund Operlt!On:;; ~-----------. l So;m:ec; ------- Closed debt :.er.ice b.lnch Badgel Stabiliz.JtioEl R~~nt' Balance' as (If Jet)· l~ l!l94 $11,561 Tnc BSR, with 11 balan.cc uf SL2.3 millioo at 6 130,"94. remains v.-ithin the gmddines of the Gencnl Fund Re,e"e Policy adopted by COIll",1 in De<ember 1992. That polic)' stales that the BSR ID)lJld b< maint.!ined a! b<twe:J1 10 and 30 percent of Ihe General Ftmd's acrual operatin.g ~:\.-pcndl!ures for the fiscal year. The current BSR balance is approximately 19 pm:<nl of act"'" 1993·94 General Fund expenditures. · . Di=tionary Reserves: Budset Stabilization R",erve Reserve for Streets and Side­ SidewaJkslS<booI Sile Projects Reserve for Emergencies Reserve for AB 702 C",dit _~otal Discretionary Resen>es NOil-Disr:.retklfl<tfY Reserves: Resen'e for Encumhnmce-s' Reappropriation'S Reserve fOi Inventory Resen"c for NOtes ReceivabJe Total Non-Discretionary Resen:es TOTAL GENERAL n;ND RESERVES CAPITAL IMPROVEMENT FUND I I 1994 I9'lJ Ir:CTCJlSe (l)e..:rcasc) fnfm 19Q3 S j9S ( 1'1) o Total expenditures of the Capital JrnprovemCl1t Fund "'= ~.l million in ~ 1993-'14 fiscal year. Of that amoWlt., $L5 million was spent for vn~jng street maintena..rxc; $573,000 wa-s used for sidewalk repairs. A11 addition-'ll SL! miiJicn wa:. <!"\.pend;ed for the Cambridge Parking Stntcture, $452,000 for the 1-13....-oor !;nprOH"ment proje-<.:l, and $430,000 for the installation of the fire sprinkler system in the Civic Center. A list of eIP projects over $100,000 is includNl as Exhibit C of this report. ---_ ...• __ . r. ! ~ !1 ,. \ ENTERPRISE FUNDS Enlelprise Fund Reserve Guidelines were established in 1993 to ensure the ad"'luac)' of funds to finance one·time contingencies and to aid in the monitoring of each fund's fiMncial h<:alth. The Rate Stabilization Reserve (RSR) established for each fund is adjusted for any fiscal year operating swplus or deficit, and is t'(-.cd primariiy to aVllid large fluctuations of rat.. to cover short-Cerm eV<nts. Th< impact of 1994-95 operations of each utility to the RSR is summarized in the following chart. EUi''l'M Fund Water EIC\::tr1c Uas Refuse WW ColJe...""tion WW Treatment Storm Drainage CllfR:50:U4 Bltdgd Vamete To (From) Re!en'e1 '~.' . . -',.' . ',. -' -'-'., 1,429 ?,,309 9){1 \,5'16 1,369 ( 680) 3.5t) I ~ RSR HT'SUS T argd j\1idrangt: Atxlve Atxl'.'C i I Above I Above I , Above I Below I --1 I'>og< 17 0( 27 , ,; I ~ t I !. l. ___ ",j •• ~ (--.., ,""-', ,-' .. Water Fund 1991,-94 1992-93 Adjusted 1993-94 Actual Budget Actual Variance Reven~ S16,296 $16,957 S 17,04 i S84 Purclwes $4,872 $3,790 $3,561 $229 Operations and Transfers $5,612 $6,768 $5,649 $1,119 Capital Expenses S3,D27 $4,489 $4,485 $4 -, Net to (from) \ Re:serve'i I $2,785 SI,9W $.1.'46 $1,436 --------, Total revenues in the Water Fund \vere slightly above the i~djusted btldget. and 5.7 percent above prior year revenues. WOoter salc:;s to customers tor the }'car were cnl)' 1 percent off from the budget. The positive total revenue variance was largely the result of interest earnings in the fund, which were $260,000 (110 percent higher than budget), due to an incrcssc in cash and reserve balances. Nonacirought conditions and decreased water conservation campaign..:; contributed [0 filvorable expenditure varian= in salaries and benefits ($650,000), contract services ($10],000) and Demand Side Management programs ($125,000). Wnolesale water purclu!s.e cost5 were a1.so slightlY lower, due to \ower~thanwprojected consumption, which provioied an additional $228,000 in savings to the fund. CMIWOU" Pqe 18 or 27 ' .. ,._------. Bolstered by a combi:,'uuior. of strong salts, fava.-able expenditure variances a..,d a ~ Iransf.,. to the General Fund. the Water Fund', RSR balance increased 5), I miHioo irJ 199J3~4, The ending RSR balance of S6A flliliicm is only $,8 million below rh< ~ k.e1 of tII< re''',.. .. e guidelines adopted by Council. I I j ~ I 1993·94 I I 1~'92-93 Adjusted I i 993-94 .r\cttl.al lJud~et + ___ ACiU?1 Variance ,I ~~~.:-~-u-~ --------- I S7~,553 554.l96 I S53,011 ($1.!85) II ! I I Ii E \.p.:r\':,c 3-S27.692 Sll,2Jl 530,520 S 713 II ! i , (7't:t.!~ ie, n":', Ir.~r·I';lcr .. I I ! & Othe: I S27,216 53 i ,081 529,511 $1,570 Capital E .... peflse~ I $12,829 514,006 $11,970 ~j,036 , Ne~ to I,.from) Res~i"\(,~_S 1,781 (S22,397) (SlO,?ol) $2,\34 AcruaJ r'C\ enues in the Electric Fund were 3 percent below budget due to lower sales, I!:xperienccd primarity in L1e lndu$triai cllltomer class. Intercsi income was also $,8 mill;"" (22 percen.) lower than budge~ due to dccr=ed cash balances and a general doclim: !n the City', portfolio earnings rate, .Lower cash balances were the resul. of L'le $36,7 million elc:<:tr1C reb.te, compkted during the period from No,ember 1993 through March 1994. p(}\\'ef purch.as.es, which had b..~[J adjusted dO\\llwru-o by $6.8 million at midyear. were still 2 percent lower than the adjusted budget. There were savings of $1.6 million in orner expenses in tbe Fledric FUf1d. as 'wcll. Th·..': largest variance (5518,000) occurred Page 19 or 27 in Resource Management, where Demand·Side Marugemenl programs .n: GO\\' funded as deve10pment occurs, rather than on an estimated an.',uaJ basis.. Sa\"ings were also experienced in salaries and benefits ('280,000), due 10 "acandes in the operational ....... Less line clearing wcd (S 159,(>00) was pcrf~ tho." ori~!I)' plmned, and administrative allocations were '1.6 pm:rnl les..' tf'o.a.1 the adJus'CC'"d budgct iS305,OOO). The Electnc Fund RSR balance dropped 10 $127 millioo in 1993·94. as i.~lended tn the planning and e~ .. ecution of the Ci'yO,Go reba!e-to electric !;USlomcrs, Preser\'.(I.tioo of prior )'ear Cu...~omCT rates \1\.4$ als.o accomplished. The RSR is nDW between !hI:' target (522.6 mm,on) and m2.ximum tim~t t,S3{),! mtl!ton\ C"StJt-.E~ht'.:i \:, t.~': l:tilit;: Reserve Guidelines. ------<=> ... 19'9~-'14 I : 942~93 Adj!J~tcd IY9]·94 Actual [ludg<1 ACtU31 --- Revenues ~.19.9\19 S~(\75i S2fl.4J9 Pw--;hases S9.858 S IlJjU SIO.541 Operations, Trans fers &. Other S5,521 :)5,982 S5.834 $148 Capital Expenses $3,9)0 5-1.928 S4.928 Th:bt Ser-.'ice S 39 S 307 S )07 Net 10 (from) R=rves S 561 ($!.81O) ($1,171) s{;J9 Reveaue! Gas FWld revenues were 2 perc.:enl below the adJllited budget, mainly dlJe to lml,rer­ than-projected sales during the winter months. The 1993-94 winter m!.)nths were slightly WiL."'lm."r than average. I ----------- PuIchases were $809,000 below the adjusted budget in the Gas FtL"d, due mainly to lower transmission oosts. The new. lower tr.msmissioo rates. were mandated by the California Public Utilities Commission (CPUC) .t the beginning of 1994. Other cxpcn<li~= variances in t.~e Gas Fund c,,",c in at 2 percent under budget ($ 140.(00) Reserves Res..~ balances remain strong for me Gas Fund. The c=t RSR balaoce (S''. million) is slightly above the maximum limit, mainly dl.."e t(l ll'~\er Ll-tmn facior rn-dilS to. cu"omers (CMR,478:93) !hI\." had tx.." anticipated. Howe,""" the "",·,1 year J 994- 95 budget provides fer a draw on the RSR.. \.".l1kh is pW,ie.;fed lo iti'Jm the re;ef'\.'(: to within Lhe desired range. Refuse Fund, 1993·94 r- I 1992-93 AJjlls!ed 1993-94 Actual Budget Actual Vari.am:~ Revenues $16,062 $18,386 S 1 8,695 S309 Payments to PAse 0 $5,602 $5,900 $5,530 ~370 Operations and Transfers $8,732 $11,413 SIO.824 $589 Capfull Expenses $283 $267 $1 I S256 Net to (from) R .. erves $1,445 $806 $2,330 SI,524 ReVtDoes Total revenues were $309,000 higher than the budget, ,",ulling ,nainly from higher disposal fee, collected at the landfill (S\80,000) and higher revenues (S209,OOO) from the Palo Alto Sanition Company (PASCO) billed sen' ices for drop box rent.h. The CMR:502:94 \ City's contract with PASCO states that fr.e City will share in PASCO-billed refu5e services. Of the total expense savings in tlIe Refuse Fund. $370,000 was the reH,it of lower payments to PASCO, due to cos: savings in hauling less garbage to the Kirtly Canyon landfill in San lose. Since only the garbage processed by the SMaRT Station i, transported to Kirtly Canyon, a delay in getting the SMaRT Station fully operational was responsible for these savings. Other savings were in salaries and benefits ($115,000) due to \',cancie" lower payments for the City's share of the SMaRT Slation's operations, and lower disposal rees ($132,000) at the Kirby Canyon landfill. [0 addition, funds set aside for two capita! projects remained unspen(; both the Landfill Gas Condensate System and Landfill L-:v.::e Projection projects have been delayed Staff is now feC{)nLTnending that funding for Ult'se h ... o projC(,·t5 be returned to the RSR. pending final regl1lations and guidelines f10m appropriate regulatory agmcfes. The refu5e RSR balance increased $2.0 million in the 1993·94 ft,c.1 year, bringing L1e ending balance ($3.2 million) within $200,000 of the maxirnwll limit. A 1994~95 RefUse rate increase should offse: projected expenditure increases for the handling of recycled materials at t~e now fu!ly-functional SMaRT ,.tation, and uther anticipated operating increases of the fund. However, reserve balances could be impacted .!lS a result of a reevaluation of the City's landtill closure and post-closure r.arc liability. New estimates of rerrutining landfill capacity. as well ar.; changes in future cost estimates for post-closure activities, have necessitated this analysis, which will be completed by midyear 1994-95. Any increase in the liability incurred to date, based on this analysis, will need to be funded from the RSR. CMR:5('M4 Page Z2 ut 27 \ -----~-.. -,. Wllt .... l.r F.pd; Trntm.al 1993·94 1991·92 Adjusted 1993·94 Actual Budget Actual Variance Rev"" .... $11,552 ~14,127 $12.220 ($1,907) Openti=<, Transfers &.0tW $8,885 $9.133 $8,658 $475 Capital Expenses $2,059 $1,827 $1.809 $IS Nrt \0 (irc,m) Resen'es $77 $926 ($488) ($1,414) Rr,"enues RI!Yeir,H~:S t~-om the RCg!(H)3l Water QLiality Control Plant are bas~d Oll actual costs, which arc bi!!'!.d to the Plani 11artnl!fS The $1.9 rrln\ion do!br varianc.e from budget revenues in the Treatment Fund reflect large s2.vings in the various expense categories at the plant. A 0$200.000 project for watt! reclamation at the Golf COllfse was also included in the Partnm' budget in enor, sin.;e L~i'& project is. funded ooty by Pa\Q Alto. tn addition. the Partno;!TS.' billings do 001 retlect encumbrnnct!s and reappropriatioos of Plant projc..::ts which, though reflected in the Wa'itewatcr Treatment Fund budget, are not yet undC'J"\.\'ay. Espeases Actual e,:penditures were less £han budget by S475,000. 1bi, variance resulted largely from savings in contract services, as fewer monitoring and other studies were required by the Regional We£e!' Quality Board than anticipated. Lower utilities usage at the Plm~ akmg "'ith a higher elc<tric rebate Uum anticipated at the time the budget was adopted, yIelded a $100,000 favorable variance. Finally, vacancies and decreased Clvertim.! providt:'<J an adJitiofli1] ($1. 00,0(0) ex~nditure savings. Page 23 or 'l7 The eoding RSR baian« wa, $2.1 mi!lion. withLn the lang< limits est1blisho<l by the Council's reseTye .. uidelines. 199.1·94 Mjuslw 1993·94 I 1'l'l1·Q3 I "'c:~CcJal::::'-+_~:':":::"+-_:"::':"::'~i--."':"'::":::::::...,j -----li .-SQ.2Q7 Budge! A.:;tu.al Variance Pure ha.""~ s {J;xrati(1;lS, T:Jl1sfers &:. Clth·.:r S:I,';51 I 1 ~I,~I.~ , S I 0,82(, ~,~-;'.1 ",:'1'154 . r 1'1 .. CapltaJ k_.~..pcmc" ________ ~-~--.!~.-.'....j~..::.:= Net, 10 (fro-m) Rt>Cf'i I!S I S':.U3l S 11.0W S264 I 5,~, 7 ~ I 5842 I .\ 50 l ,~{l6 S248 ~ ·0-! 51,35-1 Total !'e'\'alues ill the W&St~lltcT cot~«lion Fund ",~re S:i64.OC,{) (2.6 percent) higher than the adjusted budge'" primarily lh< =ull of bil!ini'S to I()C~I indostries 10' • higher VQlume of ~1e discharges into LhC' ~'er syst.em, lhe Sl.5 million im.~rease from prior year ,,,,crares ,eOec!5 th< 9.9 p<rttnl rale inc.=< impose.J, "'1th Ihe 1993-94 budget to fund an iKUleralw Lnfrastructute progr.un planned for 1994-95. Of the ~ 1.1 million ,:,ayir.gs l:l Waste~'a[CT Coile..ction fund (:xpenses, $842,000 was due to lowCt' tta.tment clw"ges. from the Treatment Plant. Treatment ~barges have been adjustad downward for the 1994-95 budget, base<! on the quantity and quality of sewage being t:re3.ted, as e:'<J'Cnenced in recent years. Othcr major savings were realiud in cootracts for emergency sewer repairs. for customers. ----------_.- o R<SerVe l~eis incroased .<harpl)· (S3.\ milJioo) in th< Coiledi"" Fund, for an <n<llOg RSR balance of $6.3 million. Although this is S I.OJ million above the maximum limit set in Council's teSCn'e guidelines, l~( 1Q94-9< 'nfrastrucrur" poogram is ".11 underway and is expected to draw dO"Tl ,he RSR '0 • 10'01 "ithin the guidelines' targeted ranae· Reveoues Revenues for the Storm Drainage I-und werC' \\-ithin <2 p<'rCC'r.l of J.dJ~t~ budg~t. Savings experienced in Uti, fund were from lower allocations (SJ41 ,(00) by the City's Public Works Operations for providing storm drainage maintena!''''' ",vices during the rainy months. Wtth fewe.r rainstotms to the fisc~l year, lnwei ;:>.m0U\ll:', 0:" maintenan.;;'o: service') were required. . ~ .. : "\~. ",y.'. iL _ '-. Reserves The 1993-94 y=~nd closing process resulled in a major redassilica"on in the Slo"" Dtainage Fund reserve balances. In capitalizing completed construction projecls ;n the fund, slllff noted iliat 53.1 million of costs included in construction-in·progress could not be CQIl.'lidere<l capital expenses, as defIned by Generally Accepted Accounting Principles. Most of these costs were incurred in the design and implementation of the Stonn Drainage Enterprise FWld ($604,;00) and completion of the Slonn Drain Condition Assessment (S1.3 million) and the Stonn Drainage Master Plan ($339,000) studies. These studies were conducted to prepare a long-range infrastructure improvement plan for the City'S storm drain system, but did nol directiy. result in the construction of assets. In addition. the Stmm Drainage Fund contributed $827,000 to the Santa Clara Vailey Water Diillict (SCVWD) for Non-point Source Comrul Programs and costsharing of a number of SCVVo/D's slorm C"ontrul pmjects within the City's jurisdiction. Of the $3.1 mlilion incorrectly classified as capi!:].! cnJr,ges, 52,7 million was expended in the prior fiscal ye.ar. ln mdcr to reda$$ these ,::xPC;1.!>I.?'5 from capital to operating, Ii prior-period ad.iu.'i.t.ment waS necessary. S!aff ,,\i11 re~omn1enLi a.TlY similar adju.'Stments necessary for budgeted ! 994-95 capiml cil-argt;;" al rnidyc:ar T..'1e adjustment lS reflected in !he S!OffiJ Drainage Fund's Je'r;:<:~s~d ri.'serVe r.r;lian<>:" VliLb the 1994-95 rate increase uf 31 pC'[cent and 011: iS5uan~e of bonds. amlcipaled at midyear to continue the funding of inirdStnlcture replacement projects, the RSR \\,1Il again be in a net positive pvsition. ReBpDropriJltioDS Exhibit A includes the ~taff recommendaticms tDT reappropriaTions. CONCLUSION Overall, the City's financial POSltlon appears to be healthy, with the General Fund seeing. net operating surplus of $792,000 and all Enterprise Fund, (with the noted exception of the Stonn Drainage Fund) maintaining reserves well within Council reserve guideline level,. - \ ------- ""', .4.TfACBMENTS Auacbmc:oll I Budget Amendment Ordinance Exhibit A 1993-94 Reappropriation Requests Exhibit B Enterprise Fund SUItL'11aries Exhibit C Capital Improvement Projects Summary Exhibit D Enterprise Fund Reserve Balan«s Exhibit E Enterprise Fund Rate Stabilization Reserves PREPARED BY: Carol Ferrell, Acrount,ng Manager DE'M"""""AD m'ov~' -~,~. ,u!)­~ Iv Harris ( Dlfctor of illy CITY M-\NAOl'R APPROVAL ~/~\~~'\'- /. l Flernrng , (~_ll)' Manager U CC: n l • Page 17 0(17 • ---"._-'-- ATTACIt'ENf ) O~-DINANCE NO, OR:lIW.NCE OF TIlE COUNC1L OF THE CITY OF PAl,O ALTO Ati'TH0i\rZING CLOSING OF THE mJDGET FOR FISCAL YEAR 1993··94 ..mEREAS, pur~uant to the provisions of Section 12 of Article :Ill of the Cha::--te:r of the City of Palo Alto and as set forth in Se.:::t.ion 2.28.070 of t he Palo Alto Municipal Code, the: Council on Jt.me 21, 1993 did adopt ... budget for fiacal year 199],··94; and ,,1-iE:"~.EAS, fis:::-al yef;l:C 1993· 94 has ended and the financial resul~s, altho~lgh subject to post.-audit adjustment, are new av o ilah1;:> a;n~ a::re he relo,'it h rep·:l!""ted in surnmarized ;: inancial 'e:<.h:..b1:~S VrO::;',H:ed by the \!ixf:<ctGr 0t Fincl.nce which aTe at_tached t~ye!0. ~!:6 by ref~re~c~ raJe a paTt hereof; and ·",-"'::7;~~,:"'_':.~, P'll':Sl_unt L) s';,cl~io:l ?~8.030 c.'i the Pale "Ito ),I,,)t,ic."' ... ;:'3,1 (c:!e, t'r-,i? Cir:"'/ ~;;.'rdgl~:r diet ar-,~nd t~l:ie bud.gec.a.ry acccunts ,):: .'!:[ ~"i 1'/ nr :-,,,10 }dto:' ,,->:0, L;·I:~J·.'\:n on the: attached exhibits 1:0 rAi J..ddit.iN:al a:ppropndti,:'r.F:= authQrized by ol-dinance of the City Co.mcil. rP,) ;1,."l":E:r..d~,:,nt ~ to er::ployee co-:-r::pensat ion plails adopted by the eir)' r:':'1..1:'l;'i1", (C) Transfers of appropriations from the contingent account as a~t~)rized by ~hc City Manager. (Dj Redistribution of appropriations between divisions, progTa~.s, and objects within various departments as authoTized by the City Manager. (E1 Fiscal year 1991-94 appropriations which on July 1, 1994 were encumbered by properly executed, but uncompleted. purchasE: orders or contract.s; and h'1iF.R.E.kS, Article III, Section 12, of lhe charter o( the City of Palo Alto requires City Council app:t-oval of additional appropri­ ations or transfers of appropriations from one department to another; and WJJ".ER.E..;5, f_:scal year 1993 94 .;:!,ppropriations depaTtr:-,ents and catego:r ic,'~ as sno'O'I'n on the attached while not obligated t.y purchase order 01' contract, at in certain Exhibit "A~, year -end are nevertf1.eless recoi)'.:llended for reapprcpriation in the fiscal year 1993-94 budget; NOW. THEREFORE, the Council of the City of Piilo Alto does ORDAIN as £0110'0,,'8: SECTION l. The City Mo;tnager is =,u':.r-.()ri2ed and dir.ected to increase, if nec-essa't-::, cll.lU·,cr ... zat:'('J1s £n the utilily funds by (!ltIOunt.a sufficient to p"!"o .... id'! tor F ... u:cl".ase of addit icnal .,..a.t.er, gas, electric, C\nd refuse coll~ct':'0T! serVlCe$, in the event the sales of said utilities se!""'.,.ices e;.;.ce-ed the origir.al est.irnat~s contained in tho:" fiscal yea!: 199J-9'; c~..ld':ret. ~EcrIQN -.2. departments ar:d cateJ';:'Y if S ;::::h·~loo""'~ c;-, ~~::~.::.~:,::.­ forward dna a,-Lied to tt·.-: fisc'"d yi2',::~ "'~''; .S E'("'1' LQlL-i . cloire.;ct eo; U\J furv.l.5 and a'S rzquiTed bJ' th-:, Chatty::: cf t!'.r." c:t'," .. -,: :"c .. :c Alt.n, b:.' ordirt].nc.f·, or .30.9 set iorr.h in th'0 tlSC"'~. ~.'e3.1 '::--?.; '.,.S b;dgt">, (IS adopte6 .)1" amended. (B) To close \·aric...l$ cC~t:,12t,:>,:1 Cflr'.'·t;ll !;:-'FI'(~':!--' "f~f".t rroj~,ct:H and rr:Ove tbe ba.la.nc~s intc.-th"! .'I-FP:::c~.:n idot€ rt~f,'2r','f':. (C) To establish reserve-51 as s-:-t f,:,,';:'<.h .:m Exhibit "R~ in the amounts SflOwn or as neces-saI")' to prov ide fOl": \ 1) A rese!"'.{e for-encu:-:-.brar.,:;es (ind reappropr ialion;;; in the vClriou5 funds, the P\.1rp0Sf~ :)f which is to carry for.wa.rd ;,md continue in effect the unexp€~ded balance of approp~idtiQns for: {a) Outstanding p~rch.'lse ordErs 3!'d contracts tor which goods or se:::-vices have not been :recel ved .or curnpleted by the last day of fisc",.) year 1!15'3-94. Such appropriations shdll be ca.rried fQI."Y.l"iird 3r.d added to tht~ fisc~l ye3,:!:' 19'5r";-S:' budget. (b) Fiscal year 19S'3-9~ depa!':crr:ental expenditures -which "Were authOl.:ized to be carried torW'ar-d in Sect ion 2 abo·.re, (2) Reser ..... es for ?dvances to Other Fur..ds and for Sto:res Inventory in accordance with 0rclinar,r(' a r.j P.J} i.cy gliidel ines. --~-.. ------ \ I -,,--... ~--- , (3) Reserves fo).-utilities plant replacern~nt. transf.er stabilization, BYstern improvement, and other l:eserves In accordance '4!"ith Charter and policy guidelines. (4) A reserve fOr' general contingencies of s'Jch :;'::1Qunt that the City Council may approve. (S) Rese.rves for AB 7{J;2 (PEP-51 retit·em~nt. r~bates held in various operating funds. (6) After providing for the foregoing res('r.~e's, transfer the l-emainder of the fiscal year 19B-9" ex,:es.9 cf ~nl!:r<il r~und r~venues over. expenditures to the Budget Staoiliz.ation Resl"r/"!. SECTION 4. Tho;, sum of Six HLl.ndred Dollars ($(,00; "is c'Sr-ebyr added to General Fund Capical '!mpTove;-:,~ent ;:l.Jnd p:r:-oj.:,::: l':.q~~ to:­ "fl.thletic Field Renovation" dnd thE.' G'8"era.1 Fur:j ::"l~?"~"_ Stabilizaticn Re:serve is corY8sp,")ndingly reduced" Budget Stabi.Jization Reserve tl"O:l1 .$12,",155,t:,D to ~;:';:', June 30,. 1994. .• .::, ,-' ..:! aCTION 6. The sum cf six Hundred rift',-"C.:.'ll3.1S :'~f'~<'1 is hereby added to the Capital Improvercenr, ~!"{)jcct 9221 ~O:,,~'-' f0:r "Municipal Service Center Re~13ir;:e,d 'i"'ater Suppl')-'" ... nd the 1Idter Rate stabilization Reserve is corresp:Jndingly n"duce-d. SE.C1..IQN....1. This tr·3.nsaction l-,--il1 I'educe the '",'at-:::r ::::,;,t:r- Stabilization Reserve from $6,649, J6J to $6,6'; J, 'IlJ 01S of Jt:.!1e 321 r 1994. SECTION B. The sum of One HU1~dred Fi (t.y-eight. Thousand ($158,000) is hereby added to Salaries in the Gas eapitei:! ard Operating Funds and the sum of Eleven Thousand ($ll,OOOj is hEreby added to the capit.al Improvement Prograin "Geog:raphic Inforr;1a.ticn System" project 8945-36699 in the Gas Fu.nd ar.d the Gas Rate Stabilization Reserve is corre9por'~dingly reduced. SEMION 9. These t1-anaactions wili reduce the Gas Rat~ Stabilization Heserve frOiCl $7,639,503 teo $7,4. 70,503 as cf ~TunfC' 3 [:, :'>_994 _ SECTION J.Q _ The sum of Five Thousand ($5,000) is hereby added to the Capital Improvement Program "Geographic Jr,fcrmatior. System lf pt-oject 8945-47705 in the Storm Dl-ain F"und and Stonn Drain Rate Stabilization Reserve is correspondingly reduced, -.~- L_. ________ _ SBCTION 11, Rate Stabilization ~994 . This transaction wil) reduce the Storm Drain P.eserve from $63,278 to $58,278 as of June 3() I SEcrXQN 12. Upon completion of the indep~ndent audit-, detailed financial statements giving effect t.o all the above sections shall be published as part of the annual financial report of the City as required by Article rII, Section 16, of the charter of the City of Palo Alto and in accordance with generally accepted accounting principles. SECTION 13, As specified in Section 2.28.0aO(aJ of the Palo Alto Municipal Code, a two-thir'ds vote of the City Council is required to adopt this ordinance. srcrrQN 14, The CQuncil of the Ci ty of Palo Al to bereby finds that the enactment of this ordinance is not a project under the Californi.a Environmental QIJality Act and, therefore, no environmental impact ,:,\ssessment: is necessayy. S.Ecrl~. Municipet.] Code, adept ion. As pl-ovided in Section 2.04.375 of the Palo JiltC' this ordinance shall t:eC01CC effect 1 ve upon IN'I'RODUC'ED AND PASSED: AYES, NOES: ABS'!'h...~rONS: ABSENT: City Clerk APPROVED AS 'TO FORM, =-~.:-::-=::c--;c=-----­Sr. Asst. City Attorney APPROVED, Mayor \. \ (";ity Manager birectc)" of Finar.ce ~" Real Es:: atE' Ip.f"grmatio o Reapurcge EXHIBIT A lj53-9~ RBAPPROPRIATION REQUZSTS ~8igr .• produr.:tion, printing and di stl'io~t i0:1 of Annual Reo.port. :?j~et.ble shifted in crd~c to r~.~p 1993 ·94 ar~j t~ ~ji5tr~buted £~ the fall 0f 199~,) :',JJ".ds to,: cutside (,E'::-;':I cc·"n$~l to assis~ Cit~· in prep~rl~~ Sarld Hill tE-'t'"_<infurd EI::': r'2\'j.f!:.""" · .... a£', d"?1ayed d~e to S~a~ford proje:t ::'"t'"vi . .;ions. ) P').'i1"',ent ,:;of Cc:;unty possessory t3.x related to providing s?ace at 425 Bryant to the C~ntenni<ll Ccm::'l'\itte-e. {County bills Pas3e-.ssory Inlerest. tax in arrears.} ~rb cuts idenLified in lS93-94 in order' to L:".ee;: ADA g\Jid~li!"'.es. (.?~-oject approved by Cou.r:cil in late 1993-94 Work unable to be completed prior to end of fiscal yedr. • $14[5~4 $6,000 $14,000 HUmAn ReeollTCeS Planning Inspection Services Divisioj", PllbJ Ie Wpua Fa,cilitics Ma.nagement Operat.ion~ &if . 1993-94 RDPPP.OPRIATIO,.. UQtJUTS Update City affjITl'3tive action plan. (Delayed due to severa~ leg~l reviews with in-house and outsid~ counsel. ) 'l'ransfer hard C8pJ' f lic-s t{, optical i~39~ SlO~as€· (?ro:\ecr: SO'%; c(:,-,!-,~";::-,, sc~n stati0~s ~ ~w~ ~~~n techniciacs '" .. "" {T ,{\,";;: i : c:.t -i' &. lir':1ited :-,"-1 _;'~:r n~' ~";qc'<'J cC::1.plel:.eJ .eacll s"ni f':.·' , . : Re~ove asbestos-~ontaining fl~~y Liles t~c~ MultiFur~os~ Rcc~ ~nd kitchen at Cubb,::,r12Y. {Delayed. Staff va.cal~ci('s cau~·~d scheduling probl-err,s. j Replace floor tiles ir. ~h .• ltiPurpoaoe. Roo~, and f',itcnE'n at CUbberley Center. (Delayed. Staff vaC'Eonci.es caused 9cheduling problcrrcs.) PurC'hase ~quipment fO:r" removing graffiti and to apply paint and anci-graffiti coatings. (:'1ore time needed to evaluate and detel.ITI1ne equip':':",ent Leeds J.n-j 8po:-:-ifications after creation of graffiti prcgrar!l in Ma:rcb 199';:,) , .. , . \ $"9, ] 83 Sl';l,5'36 $14,000 $12,500 ---..~,,---- , i I !lepUtzHn t / Division Community Seryic@B Recreation -_._------ 1993-94 REAPP~OPRIATIOH RBQUESTS Council-direct~d recreatio~ and other programs/center operations and maiHtenance at Terman Center. {City Counc'il directed that Terman revenues be used at T~rman Center. Funds are being carried torwa:;:d until p.rcgrams are developed fa!" Te!'1T'.an , ) Carpet replaccrr,ent in Cubber] E>)' Center. (Required bids not l-eceived by deadline. Time and staf f h1.g constraints. ) FabLlcatian of Cubbe;:ley Com:[~\,1i1i ty Center signs, tenant signs, directories and di~-ectional signs. (Original sign program needs to be re-worked. Cost estimates much higher than allocated resources. Additional time was needed to address vandalism concerns.) Purchase tables and chairs for. meeting rooms and auditor·ium at. Cubberley Center. (Bid process not completed by deadline _) $lS,~OO $~S,COO $15,000 Parke and Golf ,-_., , ,. 1993-94 R3APPROPRrATION REQUESTS o •• /aeaaon for R •• ppropriatioDS Purchase basic cooking equipment. walk-in refrige:r:ator ara.d freezer at golf course. {Renovation delayed du~ to addit"ional design work.) Total General Fund ;~ . $25,000 $226,'80 ~t/ Divis1w: .DI"'!'a.PJUS I rmms Utiliri{!§ Admif' ',8tration ~, 1993-94 REAPPROPRIATION RBQUBSTS u •• /a ••• on for aeappropriation. MDB p-tograT:lll"Ling support. (Changes in ~3-94 priorities increased work that ne~d~d to be co~,pl.eted by contra.:t staff. Services need to continue into next fis::al year to sUP'Port l:",:ple~ent.atiun of ""DB.) Purch~se water neter test equip~~nt to yepla~e a 25-year-01d ul'li t . I, P.:.rchase {-If eqlJ ip:11.ent held pending until Water Meter Shop reT·,oJ.e1 is co~nplcted.) Consui lanl support to examinE: tcansmission access issues. (Proj~ct delayed pending informal hearing from the california Public Uti.lities Ccmrnission, which has now been received,) lrr.ple!nencat:.ion of Utilities demand-side management programs. (Pr()jects developed but not completed in 1993-1994.' , , .~-. $22,000 $17,500 $125,000 $218,000 .' .. 'O' •• /a ... on to!: bappropt'iation. i-lo'J.seho!d haza;r·dcu5 waste .3nd recycli.r:g public o\..ltreach. (Staff time precluded b~gjnni.ng process until spring. Could not bid before J'''':':1e.) Total ~t.rpri •• Fund Request pO,ooo $41? ?99 ])ep&rtraan t/ DiviaiOll 1993-94 R&APpaOPRtATIQN RBQUSSTS lJI'I'BIII'l1o. S UVI Cl! I'tJNl) Vehicle &placement Purcha.se replacer:'.ent vehiclps and equipment. <Specif:i cat ions ..... ere not cOT,plet'::.J early enough to gather-:c.,ids for the equipment in 1993-94./ Total Internal S6rvice ~~d CAPITAL IMPROVIOmri' PROJECTS i'rQ)P>ct. #193Q7 Pub] i C WCJrks Pro';gct gl'lQQ9 Public Works prOject #19301 Public Works project it192QS Publ i c Works fise? Wilkie Way bike bridgp (Department was inV~8tigdtlng jP6S costly al~ernatives t.o bridqe replacement. ) FinanCE vault rerr,Qcel. (Tied to Civic Center Buildout project. Cann<:'!t be cOT"1pleted until buildout is done this winter. ) Baylands Athletic Center Circuit Rcplacell",ent (Delay'?d. Staff vdcancies caused. .schedul ing problems.) Fuel tank stol.-age upgrade. UJnable to complete speci f ic.;;:tiL"111-S for bid du~ to other priorities and projects.) , ; .\ , SS(J,uOO nepe."bI\en t/ Oiviaioll Project ~ comnrl.,lnity Services ";." ... " ,'", ·'C·'.:.:.. ___ _ 1993-.4 REAPPROPRIATION REQUESTS Eaylands amenities improvements, (Pl-oject involved installing an acceE~ gate at Baylands to shut at closing time. Completion of project re~Jired staffing at night to close gate. Police Department has now agreed to close the gate and the project may now proceed.) Total Capit~l Improvement Projects . ",' $26,000 §213.135 .'1 r"\ ~ EXHIBIT B ENTERPRISE FU"IO SUMMAA.IES NiHJ..94 WAfER FUND 1nJ.!H 1993-54 1992·9.3 AdJUfted '"3· ... Actual Ar.UW -... &JIjJJ fn~1.,Q eIJ.:s."Ec1(.lBUP Y.ad.lll!a R£YE>I<)£ .......... $14,s,7a $.15,111 "5 lS~ ~lS,1.S5 $84 . Ii ..",. .. 6;;;trts/ErlC l,9HI 1,8<6 1,04$ 1,8<6 0 =Al.1tEVEHU< 16,296 16,9$7 11.~1 17,041 .. £:0 DifS£S """'-4,612 :3.700 3,561 3.561 229 """"-5,61? 6,'iBa $.~2) m 5,549 1.119 TOT"l. Of>ER4.nIiG EXPENSES lD,4S4 'D.~ 9,05, ". 9.210 1,3-48 ~:~~!. j,O~1 ~.'\8J 1.544 2.94' ~,485 TO,,!, At 'EX"f~S es 13.511 15,(\011 10,626 H>6'3 13,605 <;,352 Tc<!(f1iiOM) AESE"~"f:!~ 'l.l(~5 j,'310 (5.415 (s,069 ~~~~' .. ~~~ 1.4:0 '" ==",,=,,-::, "".,."'.""."-,, ELECTRIC FUHD lS93·9of 159)-,. 1*'l.·~3 Mjus~ "''1-'' Ad\la\ ""w.tJ Bwlgitt AJ:wl..! En.:iB.e:iJ;l PlJ.ls.. Jintfflm lIirlan~ ~EVENIJE R_ $6:l 699 $31,093 $79,75<1 $18,750 (51,34') R~IEnc 5,-'54 9,803 9603 9,803 0 ~R_ 136,700 (35,542 {36,SoI2 158 TOTAl. ............ 1'5,'553 54,19& 5'3,01\ ~,C>1~ (~.'S5 EXl'£JOSE$ """-27.8!J2 31,233 30,5:.::0 30,52'0 m 0Irw"--27,21ti 31,081 28,675 636 29,511 1,570 TOTIY.. OPERATING EXPENSES 5<,90& 62,314 59,195 B36 60.031 2,283 ~E:.q;;e.~ ~2,e2S 14,(\1)1) 1,e20 S.~'50 U,9il) 1,036 ~p~ 35 " 37 " 0 P.,..,w 1953 Wltjl Boncb 0 no 236 236 0 TOTAL IEXPEMSES 67,n'1. 76,593 !H,288 5,900 D,214 3,31g TOJIJ:'ROU) ~£SE..RVES 7,781 {n,::%'7 [14,277 \5,9as 12u,2~3 2,1)4 RErU'SE FIJ~O 1t!~·t4 1m-" ltt~·U Ad,fl;.Wd 1"3·904 A<M' N;Q.;&i 8<~ !\kb.;jl £rr ... ~"" Pll41.M.lRll~ ~ RFrTl>I-'tJf p.~~ H':,~5 Si7 H·':: ~ I? .:.£;", $11.0197 $3O<J "'Nop"~lfiT,".)OS I €'X ',577 1,H~ \1~ 1,1 s.e 0 TOTAl.. R£YeM.JE: 15,~ ",.. lS.cS5 le.69S lOS E<P£>ISES ~ t::I F-o\SC".o ,&l1 5,9(XJ 5. 530 '.5>0 '70 """" "--oS,73:' ".41] 10.5tol :310 10.8.24 589 TOTAL CftRA TU«l fXP[I't"StS "ll' 17JlJ 1 S, Q4.I JlO 16,354 9" 0...-<--' '" '€l I' 0 II , .. .. ------ TOTAl n'P'D!SES 1~,"S11 17.53.) 1 e-.05~, ~10 1{),365 1,21:5 T~~ 1.«5 80S ~,640 ("3.10 :2,3-10 1,5.24 =IL-::== ===,"==" ------..----- .,......" r-. "-'WA5rEW"'Tc~ TREAn.i[","r fUND US'"" 1stl· ... 1t!2·J;3 A;1j~ ,,,,... >ctual ~ -..,... ~ ""'"~ VAIiI!x.t: R£VEHUe """"'''' ,.",2 $1' u~ S10,S·, S~:J 5:91 i1il,M!\ ~!I:::f\C ~,OC(J IHe • en 1,.S'! , TOTAL RINE.HUE 11 ,551 14,!.'7 ~2,2€" 1.Z,~';l " "" ~. """'*" "-, .. , 9, ~:n ''''' , .. ~ a,~ ,";5 TOTAL OF'EP..ATIHG E.xf'E"lSES !:,~:$!> g, ~.!.J. 7 "" ,., S 6t08 '" "--:2 CJ:)'9' u:::r 1,.:'>:, 1.1~ I ,!!Of. , , ",...",.. p,,.,.,..,.. ~~ 5C' ~'7" .'iF 0 P'S)'~'~ \.7tJb':) B..."'I"1:!I , , f~( \\:'.'..\. " E-~" , TOl ~\.. 'O:?E?oISES ~ ~,!;:5 \ ~ '.: \ •. :': '/ " ~ ! ", ! '.<~, lOi',l'ROM.) RESE~~S "'!. ' (.~~ , :c,:" 1"3·" l"'~.'" 1~2·SJ ~ d)"A-tIK'I an·'" I,~tal ~i . .-A.<twAl Enc..'R.~ PlIU E.r:!:,.tt.~ Y4!I>o<. PEVEMUE Re-~ooL.e !.e ~ ,:-:.-s 1:] t?~ ~ I:, ,t,' , ,".t5 ;> i~:::.,( f<:e4">j)f~ria'iof.s I Ef:C. ." '[·33 e,~.' 6J) '.' roTA!. REVENUe 9,;-~j' ~{\,!?>5 \1'~ lim ~"" .......... """""'" 3 "~1 4 5;3 3 7eo 1 "l'&:l 7",) -E""",,.. 1 ,81 ~ 2.c~ ),1}3 7:' , eo6 4:4.5 T01,.... OP€RA TIHG EXPE~'S!:S ~,2:-2 ~_62' 5,~ 13 " ,,..; 1,0·41 CariIaI Expenses '1163 1,166 1.761 4:0 " .. Q Pmdpal j)aymerrts 131 n:J r:l5' '''' , TOTAL EXPE,."e:S 7,;'t'Q [:),0132 7.<! 13 ~ 78 I ,~" 1 1,~i 1'Ot'(PROM) RESERVES 2.031 1.&i04 3.6n (-47& 3.199 "05 =:.=-::="'.~= ,'"' S TOffN "~IN F UNO -- ItfI;J-H 1"Ut4 1"2 ... 3 .d; ..... 1"3-94 """. ..... ~ A:;IuoJ --f~ ~--...... --$1,757 S1.114 $1.7'09 .s., , 709 '" " pr"~I3oIEroc 1.199 1.220 '.220 1,210 0 TOT"AL R.EVE.HUe 2,956 UJ.4 2.919 0 2. <;;:9 " ........... """'-, ,:J01 ,,~g 1,5.3; < 1."'" ,< TOTAL. Qf)ERA11NG EXPENSES 1,)01 1 ,53;:! 1.539 1,54) i' -..-:UI76 :1',1'97 .. , 1,£57 ~,~ .. x,5-~ Repayment 'If ~ to GF «, 0 0 " • ~IPs)lr.".enb ., '" '" 0 TOTAl EXPENSeS M2.o! ~,.26 :t,"; r4 1,561 ",US ::~ : TOI(FROM) RfS::J:IVE~ (2,563 (1,":;2) 4!-!-l' .6151 (I CC'-, Z:.-: Project Projact Title Number IMpl ------- Public Bldg Structu,e Imp 18508 PWD Fin, Database Upgrade 18614 FIN Arts j(l Public Places 18617 SCS Haz Mtrls UG Tank Removal 18603 PWD Renov of IrrigatiOn Syst 13806 SCS Inf!'. System Development 18812 fRD / I Geographic Info,Systems 18822 PWD ~ :~ ) MSC Site lmpro"emen\ 181lOB PWD Fire Station Dorm, Jmp, 16916 PWD HClrbor Improvement 18918 PWD Playing Filed Improvement 18932 FIN AlrpDrt TBn~ Removal 19001 PWD Records Management 19011 IRO Building Code 19018 PWD Tank Investlg;::ll:ion & Remo 19101 PWD Playground Furni.& EqUip, 19103 SCS Poiice Comm.Computer Syst 19109 POL Wide Area Networking 19116 IRD Civic Ctr Remodel/Roloc. 19119 PWD Cal Ave Parkmg Structure 1\1213 PWD AmeLDisb.Act Compliance ~9309 IRD MSC Security Improvement 19311 PWD Fire/Comrr. Computer Syst. 19312 FIR Radio Replacemerlts 19403 POL Vcice Processing System 19404 IRD Riconada Pool Site Improv 19406 PWD Civic Center Garage improv 19410 PWD Park Backflow Repl.& Irrig 19414 PWD Park; Facilities t\llprovement 19415 SCS rn-Easement Purchases 19417 FIN Library Automation Services 19418 SCS iOTAl, Genefat Fund Projects ·T!r:"·":'""''''!''\''''!1'~.:.«'!!',. Pi . ..0 .au 4-\4!P" ...... '~ EXHIBIT C CapJtallmprovement Pro.icets Summary (Selec1ed Projects Over $'100,000) fourth Quarter Review, Hi93-1994 Adjusted bip Thru 93/94 ¥TD Budgol Budget to Data 6i30i93 Actual Balance ~-~-,.------~.--------- 3,257,910 2,807,124 51,480 399,326 944,500 490,238 8;1,547 370,715 131,109 95,678 18,937 16,494 215,000 174,069 7,210 33,721 390,000 290.495 38,947 60,558 1.419,540 1,141920 208,569 69,051 705,000 344,254 118,154 242,592 380,000 291,338 63,549 25,113 605,000 307,666 98:663 198,671 '1,535,000 824,893 452,335 257,772 355,165 109,710 0 245,455 770,000 193,210 27,467 549,323 510,000 265,052 59,332 185,616 647.000 73,816 249,239 323,943 170,000 2',548 36,&46 '106,BQ6 205,000 169,814 0 35,186 655,000 303,143 47,061 504,796 225,000 89,000 7,992 128,008 513,150 24,.825 18,800 .SQ,52S 1,887,500 167,008 1,083,005 637.467 593,620 47.275 9,568 536,777 ) 100,000 1.782 11,546 86,672 300,050 31,190 22,215 246,645 101,000 91,240 9,760 100,000 87 99,913 400,QOO 8 399,992 200,000 200,000 183,000 20,926 162,074 172,000 46,557 125,443 412,000 412,000 200,000 150,449 49,551 18A82,544 8,263.050 ;,023,509 7,190,985 --.-,-----~---~----------.-.--'---.---- , , I I , I - , , ~ ~ ProJ~C! TIIIG ProjeCl Numo.r ""P' .;; -- EXH181i C (;~ IrT1"f'o-.·eln.tnl Pro;.ct:. Sl.,Jmnll.~r., (~lId Prott:m 0..11( S100,r)XI ~ Fout1" Qunril'lf Ruv~, 1WJ·' )1J4 AdlUjl.o a~loOatn Lxp r1\,u 6J;'O/',)J -----~.~ .. ~ .. -------.. ------.~--~--~--.. ~,~~-.---.. ~---.. SI,"' Mllltnlor,;ano;l'I Sidewalk RftpJill,r: MlrlOr !nloraf'lcl,on lmp, MBjor inl(lrluJdiM :mp, Urban lane Elikftw,.y Study TOTAL,SI.!mprOVf"ITIBnl Projed L.atlF acilitH!1l &. $hl,j\." Gas Stalion ImprQv8FN1nt Wmter Stalion Imp Quarry Rd,,2 KV Fftltdel'B Geo~rllpt1jc Inlo S),slomt. Hanafin Wsy12 KV ACltliliOn GIS Worksialof'l:; DwIn P.A, UG district III Wastewater Reclamation Storm Water Quality Imll Golf Couf!le Walf;( Rf'ICllllm& N.llural Gas Vehicle COI'I\r, Bu:; Tie 8reaker @ Color.do Dn!n PAUnderQround IV Instrum_& Alarm 0151 ConI CiviC Center Build-Out Sireet Ught tmprovemt;tnl$ Utilities Billing Sy!>!em W""er Gas Storm Station improv. industrial Wast-e Lab R~or..alion SUBTOTAL Wal-er Main R('placement Gas Main RepliJC'.'ment Storm DrainAge Imp, Ett:dric Dlsl.tmprovemOfll Wastewater COil Sys Rehab. 18670189'/1 18003 19072 19073 19310 8865 8919 8923 8937 8945 9053 9101 9152 9170 9lBa 9220 9230 9251 925.2 9200 9352 9354 9357 9451 94 .. 8C~6 8018 8870 8928 9173 PWD PWD PWD PWD PLA WWT GAS WATER ELEe MULT! ELEC MULTI ElEC 'MNT SDRA!'" WATER GAS ELEe ELEC ELEe MIJL TI HEC ElEC MULTi WN1 WATE~ GAs SORAm ElEe WNC On'9Q~~ OtHjpin9 1~5.7(O 2,000.000 13'; ./.60 :1:.267.000 115 ~r"1 C:~{j.3c~ 9.64';; 71J1.340 ---'-'~'----.---.~.~ ..... -.- 604,68.1 439,B~ 634.302 141,37'9 235.!lf',4 113,737 1.175.000 (\.4~.5!i7 '1,140.750 504.:)03 797,000 769,536 2'lS.OIJQ 178,1:18 1.81ro,OOO 1,f.28,809 300.000 177.491 700.000 421.14:< 320.000 ~Y)l 416.000 7.402 150,000 86,820 1.660,000 174.94:( 450.000 It/Z,414 1.397,500 105.2(:3 260,000 2.140 545,000 56,2t.8 1,11i',OOO a 175,000 C 14,3S3.21fJ 5,890,857 on-going On-goiflg On~g('ing Ofl-OOlng On-90ing 14,353.21& 5,89{},6S"r ')3 .. '\": Y-,O Iv:-ll),:li ~ ,,(\]1 ,06e ')7:! 7~lj D 117."";;)1 aSmO 203.~~1 :tJ,691 561 1 ~.2' 1 "175.881) ;Z1l';,e63 22.571 0 0 1(.13.95-4 10:1.115 189 .. 4(1;2 211.954 fj!i.385 1."SfJ,874 118.023 637,378 117,137 14' .. ~79 11:.G53 0 3,6t.~,-4:12 1'J3.~34 1,.$73.718 2,S7.3,3!>S 1,816.212 1.231.863 -, ,t,;; ;;;;"W ~Gm' PJ(t@ii 'JiNJit'Il4 ... 8UOg.' Oahlra 2(1,5-119 1.226,H5 :Ja,.4-4~ 1 ,2il2, 13Q ( ,,_ .. _----_. 141,131 "81,"158 111,036 l!i6,554 416,584 ~.~93 38,862 231,191 18.555 115,742 72,417 190,6« 1.795 195,164 '''9.563 6504,919 '40.723 341.233 1,"00,147 175,000 4,811.929 .," .. t '. I'~ . L{' f,:: w ~ ~: • " "' ---------~ ;'1'003 tt£I!!' ,AU FQt __ iMGMt4ZJUUni, .. q;J'! ...... '1"If. EXHIB'T D ENTEAPFlJSE FUND AESERvE$ (In Ihou!hl.nd of (/ollar:t) FY93~ FY9:2lB3 , WC!'otoW.,'<"f Wn'>(Lr .... · .. tfJr Stann Total Toial t ViII_lex E.~~lrJc G",. _C(l!Io~Ii()n Trt'''''IrTlU_nt ~1\'lu~ Q!~I<) (;~~!PJ1~ ~[lJ~1P~w_. Emergency plnnt rep!8Cemcnl $567 $1,996 $!.&4 $3:::1 sun S4,3!j7 $4,126 .' .~ Rnlo .ttt.bJh~;.\tiori ti,G48 26,6&8 -: f>3f) ,_ .. ,t~~, ;:.~':;.c) $),1 !JO $.~ 5~.202 f34,'lB-l Cnlnwuu Rc!' ... rv~ 18,6~j4 18,694 22.~~ ) i , G.lI. Sl.Jpplf!rfl{>r.tftl slJpply :;,I)'J~ J,002 30'):2 , '. ! D(!llt Sorvicf' f1Q'!Iervo 0 541 , UmJargrourrd Iwi'! 'Ai 54. '51£! Commrvalio!"l IQl:Irl 0" .,. 5!A "\ " RIl!Jorvq tOr P()i3 R.:-bAlQ" 141 440 1~ }1 31 ~, ':'l2 ,;,<9 l.2f!o 1,~G F\efulo WaiN tI!30UrCQl!. ". 110 D i- C~"nmrlmont-:-. and r'~llrpfopt1<l\iO~1 3,Q{;') ~.:Ja(, i.3~9 -fj!.~ 1,,'I\Y~ :lIQ 1,()ij1 15,Jl1 Hi,:'If.3 I T o~111 fll!~Uv(>~ 10 ..... 5 foG.JJO 13.96& 7,o0:3 _~yn .3,750 1,7!13 99,218 11S,651{ ) I I .< :,," :,~~:/ : : 4 _L-___ _ EXHI81T E ENTERPRISE FUNDS RATE STABILIZATION RESERVE 1992-93 1993-94 Minimum Targ"t Ma.:(imum RSR Bal ASR Sal RSR Sal RSR Bal RSR Sal !lQ£Ol i~OOQl ($OOQl L,g.QQl {~OOOJ Water $3,368 $5,648 $4,814 $1,222 $9,629 Electric 45,065 26,66~ 15,050 22,575 3(),099 Gas 8,619 7,639 3.576 5,3E4 7, ~ 52 Refuse 930 3,1 S(l i .69J 2,~:':"S 3,3:0 VI/VV Coiiect'on 3,208 6,4~5 2,6::.',5 3,f'~-'.~ 5,2lD WW Treatment 2,339 2,"-:~69 1,GCS :..: ~C,:3 ;;',;J i:} Storm DrainRge 1,238 G3 0 ~(;,,) ::.(:::1 -'--'-...-~.--'