Finance Highlights 2009 0519 - Laserfiche WebLink

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costs are budgeted in FY 2009-10, ACFD secured a contract with significant cost savings if purchase in FY 2008-09; Age of staff vehicle leading to significant failures and increased repair costs; New requirements by EMSA and purchase of supplies for heart monitors for EMS program. • Countywide Overhead is estimated to be at under budget due to lower Risk Management allocation. Quarterly Payment Reconciliation The method of payment used by the City is to make 4 quarterly payments to the Fire Department. The Fire Department provides the City with a quarterly invoice that reconciles actual expenditures with the quarterly payment made by the City. The City has a credit balance of $165,133 at the end of Third Quarter for Fiscal Year 2008-09. It is recommended the City not apply the credit balance toward the Fourth Quarter payment as it is estimated the City will under pay the Fire Department by $149,156 at year-end due to the estimated expenditures for the Fourth Quarter will be higher than the average quarterly payment. The following is a summary of year-to-date reconciliation: Adjusted `Service for Credit Applied Estimated (Under) I Over Over / ([Tnder) FY 2008-09 Quarterl Pmt B Ci Actual Ex Pa ent Pmt Balance Comment FY 2007-08 $62,775 Balance 15` Quarter $4,257,289 ($62,775) $4,113,974 $143,315 $143,315 Actual 2na Quarter $4,257,289 ($80,540) $3,894,880 $362,409 $425,184 Actual 3`a Quarter $4,257,289 ($148,922) $4,235,471 $21,818 $298,080 Actual Equipment for Apparatus ($132,947) $165,133 #212 Inv# 2008 Equipment 09-156 4`~ Quarter $4,257,289 $4 571 578 ~ ($314,289) ($149,156) Estimate Total $1.7,029,156 ($425,184) $16,815,903 $213,253 ($149,155)