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File Number: 15-608 <br />prepared. <br />The Police budget overage of $53,000 is minimal and primarily due to higher than expected <br />personnel costs in several divisions. <br />General Fund Year-End Summary <br />The 2014-15 year-end forecast for the General Fund has improved over the Adopted Budget, <br />largely due to a greater amount of year-end revenues than expenditures, unspent project <br />funds and prior year carryover of the Economic Uncertainty reserve surplus. It also reflects <br />$1.2 million currently reserved for ACFD OPEB payments as previously discussed. Revised <br />projections for 2014-15 reflect an operating increase in undesignated fund balance of $8.1 <br />million over the adopted budget. Overall, staff projects a net fund balance in the General Fund <br />of $22.9 million, an improvement of $13.2 million over the Adopted Budget. Please refer to <br />Table 3 in the attachment. <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 $67,000 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 Asset Seizure Fund decreased $62,000 due to the expected use of seizure funds <br />to finance appropriate and needed purchases within the Police Department. These <br />purchases may not have been made absent Asset Seizure Funds. <br />The Water Pollution Control Plant (WPCP) Fund decreased $8.4 million and this was mainly <br />due to the recording of $13 million in pension liability expense per GASB 68. The WPCP <br />Fund is an enterprise fund that uses full accrual accounting. Under this method, all liabilities, <br />even liabilities not expected to be paid from current resources (within the year), are reflected <br />in a statement of financial position. Thus, this is why $13 million in net pension liability <br />impacts the fund balance of the WPCP even though only about $800,000 is for the current <br />year. The City’s General Fund, which uses modified accrual accounting, will not have a <br />significant decrease due to GASB 68. <br />·The Storm Water Fund decreased $34,000 due to projects deferred to 2014-15. <br />·The Building Maintenance Fund decreased $469,000 due to increased maintenance <br />costs and internal service charge revenues that were less than anticipated. Staff <br />continues to monitor revenues and expenditures in the Building Maintenance Fund . <br />·The Information Technology Fund decreased $481,000 due to extraordinary equipment <br />Page 3 City of San Leandro Printed on 12/15/2015