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File Number: 14-156 <br />·Gas Tax Funds: The State gas tax revenues based on the January 2014 State report <br />shows a $380,700 decrease in revenues associated with the Board of Equalization <br />projections of gas consumption and gas rates. In response to this decrease in <br />revenues, the Gas Tax Fund decreased the annual overlay and street sealing work for <br />2014-15. In May, 2014, the State will issue an updated gas tax revenue report, and if <br />significantly different , it shall be presented to Council for consideration. <br />·Affordable Housing Asset Fund: This fund accounts for assets received from <br />affordable housing activities and programs from the former Redevelopment Agency <br />Low/Moderate Housing fund and acts as its Successor Agency . The 2014-15 projected <br />revenues are increasing by $187,000 with 93% related to reimbursements and principal <br />loan repayments. <br />Enterprise & Internal Service Funds (refer to Exhibit 1) <br />Four Enterprise Funds make up the City’s business type operations . The Water Pollution <br />Control Plant Fund, Environmental Services Fund, Shoreline Enterprise Fund, and the Storm <br />Water Fund are City municipal operations designed to fully recover costs through user fees . <br />The overall 2014-15 projected revenues increased by $81,915 and the projected expenditures <br />increased by $342,915 with the majority of these changes found in the Water Pollution Control <br />Plant Fund. Although the projected changes to the Shoreline Fund are minimal, and the <br />deficit continues to diminish, it is important to note that the fund has long-term liabilities of <br />over $9 million in loans ($7.1 million General Fund advance and $1.9 million Cal-Boat loan). <br />There are also four Internal Service Funds that operate as business activities, exclusively <br />supporting the City’s internal operations . The Facilities Maintenance Fund, Information <br />Technology Fund, Self Insurance Fund, and Equipment Maintenance Fund are the City’s <br />Internal Service Funds. The overall 2014-15 projected revenues increased by $307,648 and <br />the projected expenditures increased by $256,947 with the majority of these changes found in <br />the Equipment Maintenance Fund. <br />·Water Pollution Control Plant: The 2014-15 projected revenues increased by less <br />than 1%, or $88,910, primarily due to increased interest income. Expenditures <br />increased by 3.7%, or $353,758, essentially due to increased salaries and benefits. <br />·Equipment Maintenance Fund: The 2014-15 revenues and expenditures increased <br />by $224,332, or 8%, primarily associated with the early replacement of two vehicles: <br />one patrol vehicle and a towable man lift. <br />Budget Adjustments <br />The 2014-15 projected budget adjustments fund summary is reflected on Attachment 1 of the <br />corresponding resolution. Likewise, the projected 2014-15 detail adjustments by fund and by <br />division are summarized on Attachment 2 of the resolution. <br />Current Agency Policies <br />·The City Council approves all adjustments to the City’s revenue and expenditure <br />appropriations. <br />Page 5 City of San Leandro Printed on 5/13/2014