RES 92065 - Laserfiche WebLink

RBCOMMBNDBD REVXHBD G~,'~T,, FOND BODGBT Table 5 outlines the General Fund Operating Budget as it was originally adopted, shows the amendments to date, and the impact of the recommended midyear adjustments. Revenues are $565,197 more than originally projected, but include one-time revenues of $1.07 million, most of which staff is recommending be set aside in a Reserve for Carryovers for next year. Thus, onaoina revenues are now Projected a~ $50Qf000 less than oriainall¥ budgeted. Staff is recommending that expenditure appropriations be reduced by $407.908, and that transfers be reduced by $546.000. Of the dollars reduced in transfers, staff is recommending that $489,000 be added to the Reserve for Carryovers for next year. With the adoption of staff's recommended changes, the General Fund will potentially end the year with a surplus of $213,000. The actual Christmas quarter for sales tax revenue may alter this figure substantially. Staff is also recommending that this surplus be added to the Reserve for Carryovers for next year. WATER AND SEWER OPBRATING FUNDS ~ revenues are now projected to be about $200,000 less than originally projected due to decreased consumption'. However, this is offset by a decrease in expenditures of $580,000 due primarily to purchasing less water. Due to the continuation of the drought surcharge in the water rate structure, an estimated $300,000 surplus will exist this year to partially fund the. construction of a new well, make repairs to an existing well, implement a new utility billing system to enhance the water conservation program, fund other water conservation costs, and to build up reserves which have been badly depleted over the years. -The balance of the funding to do these projects will come from next s~mmer's (Fiscal year 1992-93) revenue generated from the drought surcharge. Other recommended changes include a transfer of $25,000 from the Water Fund to the General Services Department for vehicle maintenance, due to the change in. accounting procedures discussed previously; and a transfer from the General Fund of $30,500 for the Water Fund's share of the PERS credit. Staff is also recommending an increase of $10,000 in the interest income revenue projections. The projected ending Fund Balance is now $381,000 compared to the original projection- of $67,000. However, this includes the $300,.000 which will be used for the water conservation purposes described above. Sewer Fund revenue projections have been increased by $200,000. Expenditures reflect a $100,000 increase in sewer charges which are passed on to DSRSD (approximately 50%of the revenue increase). Other expenditures including gasoline, equipment rentals and capital ~utlays, have been reduced by $40,000. Staff is SR92:125 8