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Page 4 of 15 <br />projected to run out of funds in the near future without supplemental contributions. See Table <br />2 below. These funds may also help address anticipated funding needs for replacement <br />and/or upgrades of various aging equipment, facilities, and information systems critical for City <br />operations. <br /> <br />In particular, the City’s Storm Drain service has a major funding issue with its operating deficit <br />of greater than $1.0 million annually. The General Fund has been providing the necessary <br />subsidy to close this funding gap each year; staff will explore options to address this funding <br />issue and present recommended actions at a later date. <br /> <br />In summary, these proposed allocations help to strengthen the General Fund reserve, <br />advance the City Council's and the community’s strategic goals, and address funding needs in <br />the City’s Storm Drain, Insurance, and Repair & Replacement Programs. Additionally, one- <br />time resources in the Livermore-Pleasanton Fire Department (LPFD) budget based on FY <br />2023/24 actuals are recommended to be used to increase contributions to the LPFD’s <br />Workers’ Compensation Fund and Equipment Reserve Funds to reduce future liabilities and to <br />set aside additional funding needed for the new station alerting system and radio replacement <br />costs. <br /> <br />Table 2. Proposed General Fund Budget Amendments <br /> <br /> <br />General Fund Revenues. Actual General Fund revenues received were greater than the <br />amended budget by approximately $5.3 million or 3.6 percent greater than the amended <br />budget. As mentioned previously, FY 2023/24 total revenue was 0.7 percent less than the FY <br />2022/23 total. Table 3 below presents the major revenue categories with a comparison of the <br />amended budget versus actual revenues, as well as the variance to the amended budget. <br /> <br />Table 3. General Fund Revenues – Amended Budget vs. Actual <br />Page 233 of 658