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I'I I::Ati,ANTON,
<br /> BUDGET SUMMARY
<br /> 2013/14FY&2014/115FY Operating Budget
<br /> golf course will transfer net operating income estimated to be $289,000 to the General Fund to
<br /> repay the General Fund for loans made to the Golf Fund during development of the golf
<br /> course. The loan balance is approximately $7.5 million as of June 30, 2013.
<br /> The following table summarizes the Golf Fund for the three years ending 2014/15FY.
<br /> Golf Course Operating Fund
<br /> 2012/13FY 2013/14FY % 2014/15FY
<br /> Golf Operations Midyear Projected Change Projected Change
<br /> July 1, Fund Balance $ 1,190,949 $ 4,338 $ 4,338
<br /> Revenues 4,135,755 4,049,325 -2.1% 4,114,207 1.6%
<br /> Expenses 3,780,356 3,679,364 -2.7% 3,745,202 1.8%
<br /> Net 355,399 369,961 369,005
<br /> Transfer In-
<br /> Subsidy From General Fund 1,320,000 - -100.0% - NA
<br /> Net 1,675,399 369,961 369,005
<br /> Transfer Out-
<br /> Golf Replacement 80,000 80,000 0.0% 80,000 0.0%
<br /> General Fund Loan Repayment - 289,961 NA 289,005 -0.3%
<br /> 2003 COP Payoff 1,192,611 - -100.0% - NA
<br /> Debt Service Payment 1,589,399 - -100.0% - NA
<br /> Net Income (1,186,611) - -
<br /> June 30, Fund Balance $ 4,338 $ 4,338 $ 4,338
<br /> Cemetery Fund
<br /> Since taking ownership of the Pleasanton Pioneer Cemetery in 2007, the City has completed
<br /> several one-time improvements. The City also adopted operating policies for the cemetery,
<br /> including the creation of 400 additional plots and approving the plot fee schedule and contract
<br /> with Catholic Funeral and Cemetery Services for burial and monument services for families
<br /> that have purchased plots. For 2013/14FY and 2014/15FY, the Cemetery Fund assumes the
<br /> facility will continue to be maintained at a "pioneer" standard. The General fund provides a
<br /> $30,000 annual subsidy to the fund for maintenance of the facility.
<br /> Special Revenue Funds
<br /> Lower Income Housing Fund
<br /> The Lower Income Housing Fund receives revenue from an affordable housing in lieu fee
<br /> assessed at the time of a commercial or residential development in the City. The Fund is
<br /> utilized to provide financial assistance toward meeting the affordable housing guidelines
<br /> detailed in the Housing Element of the City's General Plan. Individual project expenditures are
<br /> determined by the City Council on a case by case basis. In 2012/13FY, the City Council
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