My WebLink
|
Help
|
About
|
Sign Out
Home
10A Action 2011 0222
CityHall
>
City Clerk
>
City Council
>
Agenda Packets
>
2011
>
Packet 2011 0222
>
10A Action 2011 0222
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/3/2011 11:08:18 AM
Creation date
2/17/2011 3:50:01 PM
Metadata
Fields
Template:
CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Staff Report
Document Date (6)
2/22/2011
Retention
PERM
Document Relationships
_CC Agenda 2011 0222
(Reference)
Path:
\City Clerk\City Council\Agenda Packets\2011\Packet 2011 0222
RDA Reso 2011-003
(Reference)
Path:
\City Clerk\City Council\Resolutions\2011
Reso 2011-054
(Reference)
Path:
\City Clerk\City Council\Resolutions\2011
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
14
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
FY 2010 -11 Mid -year review and budget adjustments February 22, 2011 <br /> • Furlough savings for January — June 2011 are not reflected in the Adopted Budget since new <br /> labor contracts were not in place at that time. The related FY 2010 -11 savings equates to <br /> 1.15% or about $310,000 and is included in the net projections. <br /> Cost increases <br /> • Mid -year budget adjustments are reflected in the Adjusted Budget total $652,799 (further <br /> detailed in Attachment 2) and include: <br /> o $380,000 transfer from the Community Impact Fee designation (use of $1.6 million <br /> dedicated to streets from the Kaiser Permanents payment) to repay the Port of Oakland <br /> for the Doolittle Drive Entryway loan: <br /> o $147,782 to provide funding for four (4) positions from January 1, 2011 — June 30, <br /> 2011 that were not budgeted pending the outcome of Measure Z (two other positions <br /> are reinstated in the Information Technology Internal Services Fund); <br /> o $33,543 allocation to fund the Senior Community Center April — June, 2011; and <br /> o $31,000 toward funding the School District's Crossing Guard Program. <br /> General Fund Year-end Summary <br /> The year -end forecast for FY 2010 -11 General Fund has improved over the Adopted Budget — <br /> largely due to an increase in projected revenues. The City maintains an operating deficit for the <br /> fiscal year, but revised projections lower this by about $700.000 to an operating deficit of $2.37 <br /> million. Overall, staff projects a net fund balance in the General Fund of about $3.1 million, an <br /> improvement of $1.78 million over the Adopted Budget projections. These projections are <br /> consistent with our first quarter projections discussed with the Finance Committee and City <br /> Council in December 2010 and January 2011. <br /> General Fund Summary FY 2011 FY 2011 <br /> (dollars in Thousands) Adopted Projected Change <br /> Beginning Fund Balance 3,854 4,618 <br /> Projected Operating Revenue (1) 66,531 67,960 <br /> Projected Operating Expenses (69,610) (70,333) <br /> Subtotal Operating Revenues - Expenditures (Surplust(Deficit)): (3,079) (2,373) 706 <br /> Net Transfers & Resources (2) 521 826 <br /> Ending Fund Balance (3) 1,296 3,071 1,775 <br /> Explanatory Footnotes <br /> (1) FY2011 Adopted includes $300k in annual Community Impact funds as revenue <br /> (2) FY 2011 Adopted includes $389k in loan repayments to GF, $500k transfer from the <br /> Insurance Fund, -$368k transfer out for Gas Tax Fund and Refuse Contract <br /> FY 2011 Projected includes: $394k in loan repayments to GF, $500k transfer from the <br /> Insurance Fund, -$368k transfer out for Gas Tax Fund and Refuse Contract, <br /> $300k use of Community Impact Funds (general) <br /> (3) Does not include $5M for Economic Uncertainty reserve funding <br /> Does not include remaining Community Impact reserve funds <br /> Summary of Community Impact Reserve (Kaiser Permanente payment of $3.1M) <br /> $1.5M dedicated to annual GF use at $300k per year for 5 years (year 1 = FY 2011) <br /> $1.6M dedicated to Street improvements; $380k appropriated at mid -year. <br /> Projected year -end balance: $1.2M general allocation; $1.22M streets allocation <br /> 5 <br />
The URL can be used to link to this page
Your browser does not support the video tag.