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File Number: 14-426 <br />Overall departmental savings currently total $1.6 million. <br />General Fund Year -End Summary <br />The 2013-14 year-end forecast for the General Fund has improved over the Adopted Budget, <br />largely due to an increase in projected revenues, salary savings, unspent project funds and <br />prior year carryover of the Economic Uncertainty reserve surplus. Revised projections for <br />2013-14 reflect an operating increase in undesignated fund balance of $4.3 million. Overall, <br />staff projects a net fund balance in the General Fund of $18.4 million, an improvement of $5.4 <br />million over Adopted Budget. Please refer to Table 3 in the attachment. <br />The General Fund summary represents a snapshot in time. Many one-time expenditures <br />were deferred to FY 14-15, including: "Next Generation" improvements ($500,000), Hospital <br />Subsidy ($1,000,000), Casa Peralta improvements ($300,000), and 777 Alvarado acquisition <br />($300,000). These deferred, "one-time" expenses total $2.1 million, which will reduce General <br />Fund reserves when completed and would have reduced the current year surplus to $2.2 <br />million. <br />All Other Funds <br />In addition to the City's General Fund, City operations are supported by a number of other <br />funds. Projected savings and budget modifications are all reflected in the estimated ending <br />fund balances. Please refer to Table 4 in the attachment. <br />■ The Parking Fund decreased $68,000 due to increased maintenance costs and <br />revenues that were less than anticipated. Staff continues to monitor revenues and <br />expenditures in the Parking Fund. <br />■ The Public Education and Government Fund decreased $263,000 due to the costs <br />associated with the upgrade of the City Council Chambers for televised and recorded <br />City Council meetings. <br />■ The Information Technology Fund decreased $287,000 due to projects deferred to <br />2013-14. <br />■ The Water Pollution Control Plant (WPCP) Fund increased $3,475,000. The Fund <br />Balance will be used to complete the WPCP renovation project and to pay back the <br />State loan, which totals $36 million as of June 30, 2014. <br />CONCLUSION <br />This report provides an update on the 2013-14 budget performance and unaudited results for <br />the General Fund and the City's other operating funds. Better than expected sales tax, <br />property tax, other revenue, reduced payroll expense, deferred projects and carryover fund <br />balances from the prior year were primary drivers in producing a positive budget balance. <br />Staff will present recommendations for designating portions of fund balance with the first <br />quarter report, expected in the next few months. <br />ATTACHMENT <br />■ Tables <br />City of San Leandro Page 3 Printed on 11113/2014 <br />