HomeMy WebLinkAboutFund Balance Presentation 02-25-19FUND BALANCE VARIANCE REPORT
One-time revenues (sales/use taxes and permits) exceeded the adopted budget projections for Q1. This includes:
Sales/Use Tax
•Schwab budgeted YTD = $300K; actually received $500K+
•Unbudgeted one-time funds related to Solana tenant renovation/new equipment approximately $290K
•Unbudgeted one-time funds related to another Solana tenant approximately $295K
Permits/Fees
•YTD Schwab actuals represent $1,089,393 more than budgeted due to the following:
o Budgeted Phase 2 to have similar revenues (slightly more) than Phase 1
o Fee schedule FY 17-18 was used for budgeting; new fees were adopted for FY 18-19 which increased
commercial fees
o Valuation was higher than anticipated
PERMITS AND FEES - BUILDING
$ 4,357,571 Adopted Budget
$ 3,533,787 YTD Budget
$ 4,358,880 YTD Actual
123% YTD Budget %
$ 825,093 Over(Under) Budget
GENERAL SALES TAX
$ 3,900,000 Adopted Budget
$ 1,050,000 YTD Budget
$ 1,826,472 YTD Actual
174% YTD Budget %
$ 776,472 Over(Under) Budget
FUND BALANCE POLICY*
Amounts of the General Fund’s Fund Balance above the 180 day minimum in the General Fund may, with Council approval, be used for the following in descending order of priority:
o Emergencies such as natural disaster response or repairs to major equipment failure or damage.
o Specific capital improvement projects or be transferred to the Capital Projects Fund.
o Major maintenance projects not meeting Capital Project criteria as identified in the Adopted Budget’s Capital Improvement Plan.
o Acquisition of technology hardware and/or software such as Geographic Information Systems (GIS), public safety technology enhancements, and fiber optic technology.
o Local matches on State or Federal grants.
o One-time (i.e. non-reoccurring) employee performance pay
*Amended by Res 19-04
CONDUIT FUND POSSIBLE USES
OF EXCESS FUNDS
CONDUIT FUNDS
GM&R FY 18/19 Projected Ending Fund Balance 537,408$ (Includes $1,000,799 Transfer in)
VM&R FY 18/19 Projected Ending Fund Balance 781,604 (Incudes $460,266 Transfer in)
1,319,012
GM&R Possible transfer in of excess funds 462,592
VM&R Possible transfer in of excess funds 218,396
680,988
Total Conduit Funds - ending Fund Balance 2,000,000$
CIP POSSIBLE USES OF EXCESS FUNDS
•Capital Improvement Plan
o Reprioritized
o Cash fund/debt
o WA Facilities (Possible)
Totals FY 17-18 FY 18-19 FY 19-20 PROJECT
Dept Proj thru Estimated Proposed Projected GRAND
No.No.FY 16/17 Budget Budget Budget TOTAL
X 405 Fire Station Complex 2,737,121$ 7,339,673$ 2,399,630$ -$ 12,476,424$
TOTAL FUND 405 2,737,121 7,339,673 2,399,630 - 12,476,424
X 412 Academy Expansion (Master Plan Update)- - 85,000 - 85,000
16 CP20 FM1938 Town Improvements 3,035,361 50,000 220,000 - 3,305,361
20 CP81 Firber Connectivity Project - - 300,000 - 300,000
Total Approved Cash Funded 3,035,361 50,000 605,000 #- 3,690,361
16 CP75 Flashing Crosswalk - Dove/Pearson & Dove/Ottinger - - 1 80,000 - 80,000
16 CP79 Wyck Hill Pavement Resurface - - 1 54,450 - 54,450
17 CP77 WA Pond Repairs - Summer 1 82,000 - 82,000
19 CP53 Trail - Dove/Pearson/Aspen - - 1 290,016 -
16 CP60 Pearson Lane Recon/Drainage - - 1 404,125 -
910,591 #- 910,591
19 CP67 Wayfinding Signage - Spring 2 229,500 - 229,500
16 CP78 Solana Pavement Repairs - - 3 90,000 - 90,000
16 CP80 FM1938 Pavement Repairs - - 3 80,000 - 80,000
399,500 - 399,500
19 CP42 Trail Connection at Hwy 114 & Solana Blvd.- - 4 30,000 - 30,000
16 CP40 Sam School Road Reconstruction & Drainage - - 4 281,960 - 281,960
16 CP34 Roanoke Road Reconstruction & Drainage South 2,900 - - 480,180 483,080
19 CP52 Trail - Academy to Cemetery - - - H 300,949
16 CP58 Ottinger Road Recon/Drainage - - - H 983,954
2,900 - #311,960 1,765,083 2,079,943
FM 1938 & Dove Road Traffic Signal (Cash)277,730 160,000 - -
FM 1938 & Dove Road Traffic Signal (Contribution)26,389 - - -
16 CP70 FM 1938 and Solana Traffic Signalization 294,703 10,000 - - 304,703
19 CP76 Cemetary Improvements - 100,000 50,000 - 150,000
17 CP71 WA Outdoor Learning Space 129,808 175,000 - 123,595 428,403
6,504,012$ 7,834,673$ ##4,676,681$ ##1,888,678$ #20,904,044$
16
FUND 405 - MUNICIPAL FACILITIES
Project Description
TOTAL GOVERNMENTAL PROJECTS
1,284,903
694,141
464,119 CP68