Reso 2020-033 CAFR for Fiscal Year Ended June 30, 2019

Home

The Unassigned Fund Balance represents 41.6% of total General Fund expenditures of $102.8 million (not including Transfers Out). The Unassigned Fund Balance of $42.7 million has been designated for the following purposes: • $0.6 million for Compensated Absences • $5.0 million for Major Emergencies • $12.4 million for Economic Uncertainty • $24.7 million for Remaining Unassigned (for liquidity and other purposes) At the end of Fiscal Year 2018-19 the General Fund ending balance increased by $6.8 million compared to prior Fiscal Year. General Fund revenues increased by $7.3 million primarily due to increases from property tax ($3.8 million), business licensing ($1.0 million), and use of money and property ($2.3 million). General Fund expenditures (not including Transfers Out) show an increase of $3.7 million from prior Fiscal Year. The increase is largely due to public safety ($2.4 million increase) and general government ($0.6 million increase). Capital Improvement Capital Projects Fund The Capital Improvement Capital Projects Fund is also a major governmental fund and accounted for less than 0.1% of the total governmental revenues and 3.3% of the total expenditures (not including other financing sources such as issuance of debt or interfund transfers). The Fund accounts for monies for major capital improvement projects not provided for in the other special revenue funds such as the Measure B, BB, and F Funds. At June 30, 2019, the Capital Improvement Capital Projects Fund had a total fund balance of $46.3 million, an increase of 101.0% mostly due to the issue of the 2018 Lease Revenue Bonds for $18.9 million. The fund balance including the proceeds from issue of the Lease Revenue Bonds are anticipated to consist of improvements to the Police and South Office Buildings, the Mulford -Marina Branch Library, Manor Park Competition Pool, Farrelly Pool, Casa Peralta, and the Boat Harbor. Non -major Governmental Funds The City's non -major funds are presented in the basic financial statements in the aggregate. As of June 30, 2019, non -major funds had a total fund balance of $16.8 million of which all are legally restricted for specific purposes by external funding. More information about these aggregate non -major funds can be found in the combining statements immediately following the required supplementary information. Proprietary Funds The City's proprietary funds provide the same type of information found in the government -wide financial statements but in greater detail. The total net position of the Enterprise Funds was $58.8 million at the end on June 30, 2019, an increase of $5.9 million from the prior fiscal year. The total net position of the Internal Service Funds was $14.1 million at the end on June 30, 2019, an increase of only $2.3 million from the prior Fiscal Year. Water Pollution Control Plant Enterprise Fund The Water Pollution Control Plant Enterprise Fund was established to account for the City's sewers, which protect public health and preserve water quality through collection, treatment, and disposal of wastewater and wastewater solids. As of June 30, 2019, the Fund's net position totaled $54.9 million, an increase of $4.4 million due increased service charges and investment income. 13