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HomeMy WebLinkAbout2013/05/28 Item 03CITY COUNCIL ''~~ AGENDA STATEMENT ~~~ CITY OF """ CHULAVISTA MAY 28, 2013, Item 3 ITEM TITLE: QUARTERLY FINANCIAL REPORT FOR THE QUARTER ENDING MARCH 31, 2013 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA MAKING VARIOUS AMENDMENTS TO THE FISCAL YEAR 2012/13 BUDGET TO ADJUST FOR VARIANCES AND APPROPRIATING FUNDS THEREFOR SUBMITTED BY: DIRECTOR OF FINANCE/CITY TREASURER ~~ ~~ REVIEWED BY: CITY MANAGEI~ParJS ASSISTANT CITY MANAGER 4/STHS VOTE: YES ~ NO SUMMARY The Finance Department prepares quarterly financial reports for the General Fund that reflect budget to actual compazisons, projected revenues and expenditures, and highlight major variances that may require additional action or changes. The quarterly financial reports are in compliance with Section 504 (f) of the City Charter, which requires that quarterly financial reports be filed by the Director of Finance through the City Manager. In preparing the quarterly financial projections, staff has identified various budget changes that are needed to better reflect actual revenues and expenditures. For government entities, a budget creates a legal framework for spending during the fiscal year. After the budget is approved there aze circumstances, which arise that could require adjustments to the approved budget. Council Policy 220-02 "Financial Reporting and Transfer Authority" was established in January of 1996 and allows for budget transfers to be completed. Transfers exceeding $15,000 require Council approval. Further, Council may amend the budget at any meeting after the adoption of the budget with a 4/Sths vote. Staff is recommending changes in the General Fund as well as various other funds that require Council approval. 3-1 MAY 28, 2013, Item ~ Page2of11 ENVIRONMENTAL REVIEW The Environmental Review Coordinator has reviewed the proposed activity for compliance with the California Environmental Quality Act (CEQA) and has determined that filing of the quarterly financial status report is not a "Project" as defined under Section 15378 of the State CEQA Guidelines because it will not result in a physical change to the environment; therefore, pursuant to Section 15060(c)(3) of the State CEQA Guidelines the actions proposed are not subject to CEQA. RECOMMENDATION That the City Council accept the report and approve the resolution. BOARDS/COMMISSION RECOMMENDATION Not applicable. DISCUSSION The Finance Department prepares quarterly financial reports for the General Fund that reflect budget to actual comparisons, projected revenues and expenditures, and highlight major vaziances that may require additional action or changes. The quarterly financial reports aze in compliance with Section 504 (f) of the City Charter, which requires that quarterly financial reports be filed by the Director of Finance through the City Manager. Attachment A -Quarterly Financial Report provides the financial outlook for the General Fund for the current fiscal yeaz and includes summary information for revenues and expenditures. The following chart summarizes the projections for June 30, 2013 based on revenue and expenditure trends through the third quarter of fiscal year 2012/13. ~• ~ ~ Reserves -July 1, 2012 (audited) $ 11.9 $ 11.9 Revenues & TransfersIn $ 124.8 $ 126.6 Expenditures & Transfers Out $ 127.5 $ 126.7 Pendin a ro riations $ - $ 0.6 Projected Sur lus/DeficB $ 2. $ 0. Projected Fund Balance for June 30, 2013 $ 9.2 $ 11.2 Percenta e of O ratin Bud et 7.2% 8.8% Notes: 1. The Amended Budget reflects a deficit due to the appropriations from reserves for the Bonita/Long Canyon Repair CIP ($514,000), South Bay Community Services Domestic Violence Response Team ($60,000), for the land purchase at 610 Bay Blvd. ($1.4 million), and the First Responders Advanced Life Support program startup costs ($665,191). 3-2 MAY 28, 2013, Item Page 3 of 11 2. The expenditures reflected in the Amended Budget column reflect the Council Adopted Budget plus Council approved amendments - it does not reflect the carryover for capital improvement projects and other encumbrances (pwchase orders). 3. The table above reflects $0.6 million in pending appropriations. It is anticipated that These funds will be needed to address unanticipated costs related to attorney services and critical equipment pwchases. Staff will return to Council in June to address these issues. The $0.6 million reflects one-time savings -recommended use of these funds will be to address one- time costs. The General Fund is tracking to do better than expected largely due to one-time revenues and unanticipated expenditure savings. General Fund revenues aze tracking to exceed budget by approximately $1.8 million. This change reflects the net change in various revenue categories. Major changes include better than expected Property Tax, Sales Tax, and prior year revenues. Positive economic trends are somewhat offset by lower than anticipated program revenues. The summary table above also reflects expenditure savings of approximately $0.8 million - a portion of which will be used to address unanticipated expenditures and critical equipment purchases. Combined, the positive revenue trend and unanticipated expenditure savings help to partially mitigate the impact of the appropriations from reserves ($2.7 million as discussed in Note 1). The summary table reflects a projected $0.7 million reduction in reserves. There are some areas of concern that staff will monitor and recommend adjustments to as needed. Areas of concern include the following: • Fire Overtime -The projections for the third quarter financial report reflects that the Fire Department will stay within budget. However, Constant Minimum Staffing remains an azea of concern. Due to vacancies earlier in the fiscal yeaz, the Fire Departrnent has exceeded the budget for Constant Minimum Staffing. This overage was offset by salary savings from the vacancies. Due to the training time needed for new personnel there is an overlap when the Department is paying both the salary of the new hires and overtime to backfill these positions. Staff will continue to analyze the Personnel Expenditure trends with the goal of avoiding negatively impacting the General Fund. • Attorney Services -Due to several outstanding legal claims in major cases, staff anticipates there may be a need to appropriate or transfer funds for costs related to attorney services prior to the end of the fiscal year. If this does become necessary, this change will be brought back for Council consideration at a later date. More information on the General Fund revenues and expenditures can be found in the attached Third Quarter Financial Report. 3-3 MAY 28, 2013, Item ~ Page 4 of 11 In preparing the quarterly financial projections, staff has identified various budget changes that aze needed to better reflect actual revenues and expenditures. For government entities, a budget creates a legal framework for spending during the fiscal year. After the budget is approved there are circumstances, which arise that could require adjustments to the approved budget. Council Policy 220-02 "Financial Reporting and Transfer Authority" was established in January of 1996 and allows for budget transfers to be completed. Transfers exceeding $15,000 require Council approval. Further, Council may amend the budget at any meeting after the adoption of the budget with a 4/Sths vote. Staff is recommending changes in the General Fund as well as vazious other funds that require Council approval. General Fund Amendments Staff is recommending budget amendments in Police, Fire, Public Works departments, and Non-Departmental. These changes result in no net fiscal impact to the General Fund. Police Department -Staff is requesting a budget transfer of $600,000 from Personnel Services to Supplies and Services ($305,000), Capital Equipment ($120,000), and Transfer Out ($175,000) categories. The Police departrnent has salary savings and is recommending that these savings be used to address high priority equipment needs in the department. The requested budget transfer allows for the purchase of the following items: • Patrol vehicles • Automatic Vehicle Locator program • Yeaz one costs for the lease of mobile .data computers and related equipment • Replacement of prox cazd system • Two-Factor Authentication system • Upgrade to Office 20101icenses Fire Department -Staff is requesting budget adjustments that result in a no net fiscal impact to the General Fund. These changes aze: • The Fire Department is requesting an appropriation in the amount of $125,000 to their Personnel Services category due to Fire Strike Team overtime working with CalFire. This requested appropriation is offset by reimbursement revenue for staff time and other administrative costs. • A transfer in of $50,000 from the Federal Grants Fund (Urban Areas Security Initiative, UASI) to the Fire Department's Transfers In category for facility overhead from conducted trainings. This revenue will be used to partially offset the lease of a fire appazatus mentioned below. • The Fire Department is requesting an appropriation to the Transfers Out category for the lease of a Pierce Arrow XT Triple Combination Pumper (fire engine). The annual lease amount of the engine is $100,000. The first year costs of the lease will be funded by the previously mentioned UASI revenue of $50,000 and other unanticipated revenues in the amount of $50,000. A transfer out of $100,000 to 3-4 MAY 28, 2013, Item Page 5 of 11 the Equipment Lease Fund is being requested to pay the lease of the equipment. The lease of the fire apparatus has no net cost to the General Fund in the current fiscal year. Future lease payments will be incorporated into operating costs of the Fire Department. The total cost of this lease will range from $602,000 to $638,000 depending on final terms of the lease. Staff will return to Council later this year for approval of the lease agreement. Non-Departmental - An appropriation is requested in the amount of $900,000 for Attorney Services and aThird-Party Administrator related to the TUT class action law suit. Public Works Department and Non-Departmental -Staff is requesting budget transfers between the Public Works and Non-Departmental budgets that result in no net fiscal impact to the General Fund. These changes are: • A transfer in the amount of $35,000 from two completed capital improvement projects (CIP) to fund the replacement of the condensing units at the Living Coast Discovery Center from Non-Departmental to Public Works. CIP projects STL354 (Pavement Major Rehabilitation) and STL335 Pavement Rehabilitation FY07/08) have been completed and the available balance of these projects will be transferred to Public Work's Capital category for the replacement of three condensing systems, two of which provide life support cooling to the Shark & Ray exhibit, and the other to the main galleria exhibits at the Living Coast Discovery Center. All three of the condensing units are well past the life expectancy of the equipment, and are vital to the aquatic life. This budget adjustment will result in no net fiscal impact to the General Fund. Although the Center is operated by a non-profit agency, the City owns the facility and is responsible for the plumbing. • A transfer of funds in the amount of $500,000 from the Public Works Department to Non-Departmental to fund a capital improvement project for the Asset Management Study. The Asset Management study is the initial step to address infrastructure needs long-term; the study will include a condition assessment and identify improvements needed for sustainability. The Public Works Department expenditure savings that will be transferred are $350,000 in Personnel Services and $150,000 in Utilities. This transfer results in a no net impact to the General Fund. Public Works will manage the CIP. Amendments to Other Funds Staff is recommending budget amendments to the following other funds: Federal Grants Fund (Urban Areas Security Initiative, UASI) -Staff is requesting an appropriation of $50,000 to the Transfers Out category of the Federal Grants Fund to reimburse the Fire Department for facility overhead for trainings conducted. This budget amendment will result in the appropriation of $50,000 from the available reserves of this fund. 3-5 MAY 28, 2013, Item 3 Page 6 of 11 Fire Equipment Lease Fund -The 4-year maintenance warranty on 20 automated external defibrillators (AEDs) is set to expire on June 30, 2013. Staff is seeking to extend the warranty for an additional 12 month period. Staff is requesting an appropriation in the amount of $24,065 from the available fund balance of the Fire Equipment Lease Fund's Supplies and Services category for this purpose. This budget amendment will result in the appropriation of $24,065 from the available reserves of this fund. Equipment Lease Fund -Staff is requesting an appropriation of $275,000 to this fund related to equipment leases in the Fire Department and the Police Department. The lease payments for the fire engine and the mobile data computers will occur in fiscal yeaz 2014. As mentioned previously, the first yeaz costs are offset by one-time savings. Future lease payments will need to be incorporated into the operating budgets of these departments and will impact the General Fund. The following budget changes are recommended as part this change: • Fire Department -Staff is requesting an appropriation of $100,000 to the City's Equipment Lease Fund's Other Expenses category, for the lease of a Pierce Arrow XT Triple Combination Pumper (fire engine). As mentioned above the year-one lease amount of the equipment is $100,000 and will be funded by UASI revenue and other unanticipated revenues in the Fire Department totaling $100,000. The requested budget appropriation results in a no net fiscal impact to this fund. • Police Department - Staff is requesting an appropriation of $175,000 for the lease of mobile data computers. The year-one lease costs will be offset by a transfer from the Police Department. Future lease costs will be incorporated into the operating cost of the Police Department. Waste Management and Recycling and Environmental Services funds -The Used Oil Grant UBG14, within the Waste Management & Recycling Fund, was a reimbursement grant received from CalRecycle to establish or enhance permanent, sustainable used oil recycling programs. All eligible UBG14 program costs have been incurred; however expenditures were posted to the Environmental Services Fund in error. The grant is now closed, and staff is requesting that the matching revenue in the amount of $13,374 be transferred to the Environmental Services Fund to cover prior year incurred expenditures. The requested budget changes result in a negative impact to the Waste Management & Recycling Fund in the amount of $13,374 and a positive impact to the Environmental Services in the matching amount. Mobile Home Park Fund -Staff is requesting an appropriation of $120,071 to the Other City Fees Fund for expenses related to the Mobile Home Park rent review program. These expenditures will be appropriated to the following categories - $20,517 to the Supplies and Services category and $99;554 to the Other Expenses to be offset by revenue received to date. The Mobile Home Pazk fee was established to ensure a consistent funding source for administration and implementation of Chula Vista 3-6 MAY 28, 2013, Item ~' Page 7 of 11 Municipal Code 9.50 for Mobilehome Park Space Rent review. This appropriation is requested to establish the budget for this program. Gas Tax and Traffic Congestion Relief funds -Approval is requested for appropriations in the amount of $5,989,006 in the Gas Tax Fund. The request is necessary to transfer appropriations and close the Traffic Congestion Relief Fund (Fund 739) to the Gas Tax Fund (Fund 221). Traffic Congestion Relief Fund received its funding from the Proposition 42 sales tax on gasoline and required a special revenue fund when the City first received the funds. However, in March 2010 as a part of a special budget session, the Legislature passed ABx8 6 and ABx8 9, which contained the provisions for a swap of state sales taxes on gasoline for a gasoline excise tax. This new legislation changed the characteristics of the Proposition 42 sales tax to that of an excise tax like the Gas Tax Fund. Based on this change the City's independent auditors recommend that Proposition 42 funds be treated the same as revenues received in the Gas Tax Fund. Staff is requesting the following changes in order to implement this recommendation: • Transfers to the General Fund o The elimination of a budgeted Transfer Out from the Traffic Congestion Relief Fund to the General Fund of $500,000 o The addition of a Transfer Out from the Gas Tax Fund to the General Fund of $500,000 o The associated changes in the General Fund Transfers In revenue to reflect the change in fund number - no net fiscal impact to the General Fund • Capital Improvement Projects o A transfer of $5,489,006 from the Traffic Congestion Relief Funds' CIP Project Expenditures category to the Gas Tax Funds' CIP Project Expenditures category. All project numbers will be updated to reflect the change in funding source. • Revenues previously posted to the Traffic Congestion Relief Fund will also be transferred to the Gas Tax Fund. As part of the elimination of the Redevelopment Agency, new funds were created under the Successor Agency Structure as approved by the City Council under Successor Agency resolution 2012-003. In order to finalize the transition between the RDA funds to the SA funds the following budgetary adjustments are necessary. The budgetary adjustments do not result in any new fund balances or unanticipated revenues. They are only for the purpose of moving authorized budgets to the new respective funds and eliminating RDA inter-fund loans between two project areas. RDA 2008 TABS Project Fund - An appropriation is requested for an amount of $641,835 to reimburse expenditures incurred for the Third Avenue Streetscape project budgeted in the Redevelopment Obligation Retirement Fund. This project was approved by the City Council per resolution 2009-133. This is a budget adjustment related to the new accounting funds created under the Successor Agency structure. Redevelopment Obligation Retirement Fund (ROBE 318)- An appropriation is requested in the amount of $5,817,603. This request is related to the wind down of the former redevelopment agency. 3-7 MAY 28, 2013, Item 3 Page 8 of 11 • The appropriation of $3,507,492 is required due to the elimination of inter-fund loans between the two former project azeas - BayfronUTown Centre I and the Merged Project Area. The elimination of inter-fund loans does not generate additional revenues for the Successor Agency. • During the fiscal year the Successor Agency received approval from the State Department of Finance to use available RDA fund balance to partially repay the general fund loan ($1,500,000) related to prior years support of RDA activities and a portion of the SERAF loan ($810,111) borrowed by the former redevelopment agency from the Low and Moderate Income Housing Fund. These transactions had already been approved by the City Council as part of the FY 2012-13 budget but need to be reflected in the new Successor Agency funds. • Request approval to eliminate appropriations reflecting transfers out to Long Term Advances Fund -RDA (691) in the amount of $3,620,223 which are no longer needed due to the appropriations requested in the two bullet points above. Closure of Long-Term Advances- RDA fund (691) and Creation of Long-Term Advances - SA Fund (692) -Request approval to eliminate appropriations from fund 691 in the amount of $4,220,223. Request approval for appropriations in the amount of $4,220,223 to fund 692 and make corresponding revenue changes related to the transfer-in for the General Fund and the Housing -Successor Agency Fund. The request is necessary to facilitate the closure of the former Redevelopment Agency Fund (691) which accounted for past agency inter-fund loans and will now be accounted for in fund 692. DECISION MAKER CONFLICT Staff has reviewed the Councilmember property holdings and has determined that Councilmember Salas has property holdings within 500 feet of the boundazies of the Third Avenue Streetscape project. Although this could create a conflict for the Councilmember, the decision contemplated is an implementation decision which does not independently create a conflict of interest, and is ministerial in nature, not requiring the City Councilmember to make or participate in making a governmental decision, pursuant to California Code of Regulations Title 2, section 18702.4(a). Consequently, this item does not present a conflict under the Political Reform Act (Cal. Gov't Code § 87100, et seq. ). Each of the remaining decisions contemplated by this action is either: (i) not site specific; or (ii) ministerial, secretazial, manual, or clerical in nature, thus, not requiring the City Councilmembers to make or participate in making a governmental decision, pursuant to California Code of Regulations Title 2, section 18702.4(a); or (iii) solely concerns the repair, replacement or maintenance of existing streets, sewer, storm drainage or similaz facilities and, as such, the financial effect of the decision on real property is presumed not to be material, pursuant to Califomia Code of Regulations Title 2, sections 18704.2(b)(2) and 18705.2(b). Consequently, these decisions do not present conflicts under the Political Reform Act (Cal. Gov't Code § 87100, et seq.) 3-8 MAY 28, 2013, Item Page 9 of 11 Staff is not independently aware, nor has staff been informed by any City Councilmember, of any other fact that may constitute a basis for a decision maker conflict of interest in this matter. CURRENT YEAR FISCAL IMPACT There is no fiscal impact resulting from accepting the Quarterly Financial Report. Approval of the resolution amending the fiscal year 2012/13 budget will result in the following appropriations. The resulting fiscal impacts to various funds are also listed in the following table. Summary of Budget Appropriations and Amendments by Department and/or Fund t Gene ral Fund: Transfer from Personnel Services to Supplies and Services, Capital, Police and Transfers Out Cate o $ $ - $ - Appropria[ion to Personnel Services category for overtime Frte rertnbursed $ 125,000 $ 125,000 $ Transfer from Federal Grants Fund (OAST) to the Fee Department Fire for fat ' overhead $ - $ 50,000 $ 50,000 Fire Transfer to the E u ment Lease Fund for the lease of fire en ' e $ 100000 $ 50,000 $ 50,000) Transfer to fund the repair of the condensing units at the Nature Public Works Center $ 35,000 $ - $ 35,000 Transfer to [he Pubhc Works Department for the repay of the Nan-De artmental condensin unRS et the Nature Center $ 35,000 $ 35,000 Appropriation for TUT for Attorney Services and Third-Parry Non-De rtmenml Adntinatrator $ 900,000 $ 900,000 $ - Transfer to Nan-Departmental fund the Asset Management Study Public Works CIP $ 500,000 $ - $ 500,000 Transfer from the Public Works Department to Non-Departmental Nan-De artmental to fwd [he Asset Mana ement Stud CIP $ 500,000 $ 500000 Appropriation to retkct creation of the Long-Term Ad~znces-SA Non-De mental Fund 692 $ 2,000,000 $ 2,OOQ000 AppropriatOn to reflect closure of the Long-Term Advances RDA Non-De rtmental Fund 691 $ 2,000,000 $ 2000,000 Total Generzl Fund $1,125,000 $1,125,000 $ 3-9 MAY 28, 2013, Item `? Page 10 of 11 Summary of Budget Appropriations and Amendments by Department and/or Fund (continued) Other Funds: Federal Grants FurM ASI Transfer to the Frte De rtmen[ for fac ' overhead $ 6Q,000 $ $ 50,000 Fire E em Lease Fund Appropriation for Automated External Defibrillator extended Warta $ 24065 $ $ 24065 E ai ens Lease Fwd A o ' tion for the lease of foe en ' e and mobile data corn users $ 275,000 $ 275,000 $ Waste Managemem & Recycling Fund Transfer of gran[ revenue to Envtronmental Services Fund for prior ant ex nddmes $ 13 74 $ $ 13374 Envnonmemal Services Transfer of gant revenue from the Waste Nanagemen[ & Rec clip Fwd for or ear ante nd¢ures $ $ 13,374 $ 13374 Other C Fees Appropriation to the Supplies and Services and Other Expenses cote ones for staff tune and other rented ex rditures $ 120 071 $ 120 07i $ Traffic Con soon Relief Fwd Transfer appropriations to the Cms Tax Fund in order to Close the Traffic Con estion Relief Funds $ 5,989, $ 2,57Q008 $ 3,409,998 Cras Tax Fwd Transfer of a ro tattoos from Traffic Con estion Relief Fund $ 5 989,006 $ 6,98Q006 $ Toml Other Funds $ 482,510 $3,818,443 $ 3,335,933 SucessorA enc /Redevelo m entA enc Funds RDA 2008 TABS Pro ct Fund Appropriation far transfer out to Redevebpmen[ Obhgatbn Re[rtement FuM -reimbursement for Ttwd Avenue related a nses $ 641,835 $ $ 641 835 Redeveopment Obligaton Re[iremem Fund 318 Appropriation for transfer m from the RDA 2008 TABS Project Fund - reumbursement for Third Avenue related a nses $ $ 641 835 $ 641 835 Redeveopment Obligation Retirement Fund 318 Appropriation to eliminate bterfund bans between project areas and record a Creneral Fund ban re ment and SERAF ment. $ 5,817,603 $ $ 5,817,603 Redevelopment Obligation Retrement Fund 318 Elintinate approved appropriations due b cosure of Long-Term Advances-RDA fund 691 $ 3,620 $ $ 3,620,223 SubtotalRORF $ 2,197,380 $ 641835 $ ],555545 Lon -Tenn Advances-SA 692 Appropriation to eliminate in[erfund bans between project areas and record a General Fund ban re ment and SERAF a ment $ $ 5 817603 $ 5 817,603 Lon -Term Advances-SA 692 Transfer appropriations to the Lang -Term Advances SA Fund 692 in order to close Lan -Term Advances RDA Fund 691 $ 4220223 $ $ 4,220223 Subtotal Lon-Tenn Advances $A 692 $ 4220 3 $ 5817603 $ 1597,380 Long-Term Advances-RDA 691 Eliminate prior appropriations related to the cosure of Long-Tenn Advances-RDA Fund 691 $ $ 3620 23 $ 3,620223 Long-Term Advances-RDA 691 Transfer appropriations to the Long -Term Advances SA Fund in order to close Lon -Term Advances RDA Fund 691 $ 4 0 3 $ $ 4220223 Subtotal Lon -Tenn Advances RDA 691 $ 4,220 23 $ 3,620223 $ 600,000 Housing -Successor Agency 319 Appropriation transfer due m creation of [he Long Tenn Advances- SA Fwd 692 $ 1 620223 $ 1,Ff20 23 Housing -Successor Agency 319 Appropriation transfer due to closure of [be Lang Term Advances- RDA Fund 691 $ 1,620 3 $ 1620 23 Subtotal Housin -SuccessorA enc Fwd 319 Total Successor Agency/RDA Funds $2,839,215 52,839,215 $ ~~ " ° "' ' Total Bud etAmendmen6': ~ $4,446;725 57,782,658 _., , $ 3,33Sy33':. Approval of the resolution results in no net fiscal impact to the General Fund, Equipment Lease, Other City Fees, and Gas Tax funds. The change related to the Environmental Services Fund results in a positive impact of $13,374 to this fund. 3-10 MAY 28, 2013, Item Page 11 of 11 The adjustment related to the Urban Areas Security Initiative Fund will result in a negative fiscal impact of $50,000 to this fund. The change related to the Fire Equipment will result in a negative fiscal impact of $24,065 to this fund. The adjustment related to the Waste Management & Recycling Fund will result in a negative fiscal impact of $13,374 to this fund. These funds have sufficient reserves for these appropriations. The action recommended to close the Traffic Congestion Relief Fund appears to have a positive impact on the fund but in reality it has no impact because the expenditure and revenue budgets are being reduced to zero for the fund. The RDA 2008 TABS Fund action will result in a negative fiscal impact of $641,835 to this fund. The fund has sufficient reserves (bond proceeds) for this appropriation. The actions taken for the Redevelopment Obligation Retirement Fund (318) will have a net negative budgetary impact to the fund of $1,555,545. There are sufficient reserves for the appropriations. The actions taken for the Long-Term Advances-SA (692) Fund will have a net positive impact of $1,597,380 to the fund due to the reduction of advances accounted for in the fund. The actions taken for the Long-Term Advances-RDA (691) Fund appears to have a positive budgetary impact on the fund but will be closed out and transferred to fund 692. ONGOING FISCAL IMPACT There are no ongoing fiscal impacts resulting from the budget amendments described above. ATTACHMENTS Third Quarter Financial Report Prepared by: Angelica Aguilar, Budget and Analysis Manager, Finance Department 3-11 OVERVIEW This financial report summarizes the City's General Fund financial position for fiscal year 2013 through March 31, 2013 and projecting out to June 30, 2013. The purpose of this report is to provide the City Council, Management and the citizens of Chula Vista an update on the City's fiscal status based on the most recent financial information. ECONOMIC UPDATE The National Forecastt - In the March 2013 report, Senior Economist David Shulman of the UCLA Anderson Forecast says that Gross Domestic Product (GDP) will grow at an estimated 1.9% annual rate through 2013. According to Shulman the national economy is beginning to "ramp up." While the forecast says that the economy will grow at 1.9% in 2013, 2.8% in 2014 and 3.1% in 2015, it's important to keep in mind that these rates of growth are still well below the typical 4%-6% rates of growth associated with prior recoveries. Along with higher rates of growth, the forecast calls for inflation in excess of 2% in 2014 and 2015, "as the Fed's extraordinary monetary policies catch up to a slow productivity growth economy." This may signal an end to the zero interest rate policy that has been in place since late 2008. The California Forecastt - In the California report, Senior Economist Jerry Nickelsburg examines whether or not the state has "lost its competitive edge" as a result of changes since the beginning of the most recent recession. Nickelsburg's conclusion: not likely. "What we find is that the recent data on non-farm employment shows no indication of a widening gap between California and other states. Moreover, over the last ten years exports through California's air and sea ports have held their own in the world marketplace." The implication: the Forecast's outlook calls for slow, steady but unexceptional economic growth in the current year with gradually accelerating growth in the following two years. Nickelsburg further adds that the factors which have driven California employment and income growth to higher rates than the U.S. remain in play. He says that as the world economy improves, and as investment in the U.S. improves, California will once again have a disproportionate share of the improvement. With that in mind, real personal income growth is forecast to be 1.4% in 2013, followed by 3.6% in 2014 and 3.3% in 'Source: UCLA Anderson Forecast, March 2013 tSource: UCLA Anderson Forecast, March 2013 3-12 2015. Unemployment will fall through 2013 and will average about 9.6% this year. In 2014, the unemployment rate is expected to fall to 8.4% and then to 7.2% in 2015. The San Diego Forecast3 -The USD Burnham-Moores Center for Real Estate's Index of Leading Economic Indicators for San Diego County rose 0.9 percent in February. This advance was led by sharp increases in building permits, improvement in initial claims for unemployment insurance, increases in local stock prices, and the outlook for the national economy. Help wanted advertising was also up moderately. The only negative component was consumer confidence, which was down slightly. The USD Index has now increased for six consecutive months. The USD forecast further states that the local economy is off to a strong start in 2013, with year-over-year job growth of at least 30,000 in each of the first two months. One sector benefiting from the increase and contributing to this improvement is housing. Fueled by job growth and low interest rates, home prices have surged and the number of distressed properties has fallen. This has led to increased employment in construction, and the wealth effect of higher home prices may impact consumer spending. The outlook for 2013 is for the local economy to do even better. San Diego Index of Leading Economic Indicators 3Source: University of San Diego School of Business Administration, USD Index of Leading Economic Indicators, November 2012; retrieved from URL: htto://home.sandiego.edu/-agin/usdlei/index html GENERAL FUND SUMMARY QUARTERLY FINANCIAL REPORT FISCAL YEAR 2013: THIRD QUARTER Page 2 of 6 General Fund Reserves -The General Fund Reserve policy was established to ensure that the City's finances are managed in a manner which will: 1. Continue to provide for the delivery of quality services 2. Maintain and enhance service delivery as the community grows in accordance with the General Plan 3. Minimize or eliminate the need to raise taxes and fees because of temporary revenue shortfalls 4. Establish the reserves necessary to meet known and unknown future obligations and ability tc respond to unexpected opportunities. The Council Adopted budget for fiscal year 2012/13 included the use of $574,000 in reserves. This funded the Bonita-Long Canyon Repair CIP ($514,000) and continued funding for South Bay Community Services' Domestic Violence Response Team ($60,000). In January 2013, Council authorized the use of $1.4 million in General Fund reserves for the purchase of 610 Bay Boulevard. In March Council also approved the use of General Fund reserves in the amount of $665,191 for costs associated with the startup of the First Responder Advanced Life Support program. Based on activity through the end of the third quarter, the General Fund is expected to end the fiscal year with a deficit of $0.7 million. This defcit largely reflects the startup costs related to the implementation of the First Responder Advanced Life Support program. The General Fund will be reimbursed for these costs in fiscal year 2014 and 2015 resulting in no net fiscal impact at the end of the repayment period. Included in the projection is a pending appropriation amount of $0.6 million that will be used to address unanticipated attorney services costs and critical equipment needs. As these are one-time monies, it is recommended that they be used to fund one-time expenditures. There are some areas of concern that staff will continue to monitor, including further shortfalls in program revenues, fire overtime costs due to constant minimum staffing, and increased attorney services expenditures related to outstanding costs for major cases. Revenues Notes: 1. The Amended Budget reflects a deficit due to the appropriations from reserves for the Bonita/Long Canyon Repair CIP ($514,000), South Bay Community Services Domestic Violence Response Team ($60,000), the land purchase at 610 Bay Blvd. ($1.4 million), and startup costs associated with the First Responder Advanced Life Support program ($665,191). 2. The expenditures reflected in the Amended Budget column reflect the Council Adapted Budget plus Council amendments - it does not reflect the carryover for capital improvement projects and other encumbrances (purchase orders). 3. The table above reflects $0.6 million in pending appropriations. It is anticipated that these funds will be needed to address unanticipated costs related to attorney services and critical equipment purchases. Staff will return to Council later this year to address these issues. The $0.6 million reflects one-time savings -recommended use of these funds will be to address one-time costs. The following table compares the amended budget and the updated revenue projections for the General Fund. The projections indicate some variances in revenues when compared to budget but in total, revenues are expected to exceed the budget by $1.8 million. Major revenue variances include the following: • A net increase of $1.9 million in Property Tax revenue which includes a one-time adjustment related to the dissolution of redevelopment agencies. A portion of this revenue will be ongoing; staff is working with the County of San Diego to determine the anticipated ongoing amount. A one-time payment from the County of San Diego totaling approximately $1.0 million related to overcharging of administrative fees in prior years - this revenue is reflected in the Other Revenue Category. Other adjustments include increases in discretionary revenue based on better than expected revenues for fiscal year 2012 and the continuation of those 3-13 The following table reflects the audited General Fund reserves as of June 30, 2012 as well as the projected General Fund reserves for June 30, 2013. QUARTERLY FINANCIAL REPORT FISCAL YEAR 2013: THIRD QUARTER Page 3 of 6 positive trends in the current fiscal year. These increases are reflected in Sales Tax, Franchise Fees, and Transient Occupancy Taxes. • A shortfall of a $0.7 million in "transfers from" other funds. This shortfall largely reflects a reduction in the loan repayment to the General Fund from the Successor Agency to the Redevelopment Agency. HdL Companies, the City's sales tax consultant, recently provided data for the fourth quarter of calendar year 2012. They report that the change in sales tax receipts between fourth quarter calendar year 2012 and fourth quarter calendar year 2011 increased by 5.4% Statewide, by 4.6% in San Diego County and 0.6% in Chula Vista. • A shortfall of approximately $935,000 in Fines, Forteitures, and Penalties, which reflects shortfalls in the following program revenues: o Code Enforcement Violations ($539,000) o Negligent Vehicle Impound Processing Fees ($205,000) o Parking Citations ($80,000) o Library Fines ($56,000) o Ordinance Violation Fines ($41,000) A shortfall of approximately ($500,000) in Other Agency Revenue, which reflects shortfalls related to revenue from Police grants and task force participation. General Fund Revenues . ~ Roperty Taxes $ 24,665,351 $ 26,529,911 $1,864,560 Sales Tax $ 20,839,000 $ 21,275,237 $ 436,237 Sales Tax in lieu $ 6,995,000 $ 6,952,211 $ (42,789) Nbtor Vehicle License Fees $ 16,125,085 $ 16,253,201 $ 128,116 Other Revenues $ 12,423,144 $ 13,452,103 $1,028,959 Transfers From Other Funds $ 11,858,758 $ 11,145,487 $ (713,271) Franchise Fees $ 7,939,054 $ 8,311,068 $ 372,014 Charges for Services $ 7,393,387 $ 7,455,803 $ 62,416 U61ity Users Taxes $ 3,477,253 $ 3,477,253 $ - OtherAgencyRevenue $ 3,580,628 $ 3,076,491 $ (504,137) Use of tvbney and Roperty $ 2,530,740 $ 2,456,490 $ (74,250) Fnes, Forfeitures 8 Penalties $ 1,854,695 $ 920,399 $ (934,296) Real Property Transfer Tax $ 784,786 $ 789,385 $ 4,599 Transient Occupancy Taxes $ 2,128,105 $ 2,315,966 $ 187,861 Business License Tax $ 1,261,460 $ 1,178,944 $ (82,516) Licenses and Perrrvts $ 990,037 $ 1,037,462 $ 47,425 Total General Fund $124,846,483 $126,627,411 $1,780,928 Sales Tax (Sales Tax and Sales Tax in lieu) -Sales tax is projected to be the City's largest revenue source, representing 22.3% of General Fund revenues in the fiscal year 2012/13 adopted budget. Projections for sales tax and sales tax in-lieu for the current fiscal year indicate that sales tax is tracking slightly better than budget based on activity through December 2012. The City is projecting to realize an additional $393,000 in sales tax when compared to budget. The following chart represents actual sales tax collections since fiscal year 2008/09 and the projection for fiscal year 2012/13. Sales Tax 530.0 3 5282 Z67-- $37 c . $25.6 525.0 $23.7 Szo.o Sls.a 510.0 $6.0 $o.o FY09 Actual FY10 Ac[uai FYll Actual FV12 Actual FY33 Projection Property Taxes -The City of Chula Vista receives property tax revenue based upon a 1.0% levy on the assessed value of all real property. Property tax is the City's second largest revenue source, representing 19.8% of General Fund revenues in the fiscal year 2012/13 adopted budget. Property tax projections reflect a net increase of $1.9 million when compared to budget. This change reflects the receipt of a one-time true up payment related to the dissolution of redevelopment agencies of $2.0 million. This is offset by a projected shortfall in delinquent property tax revenues ($160,000) and a smaller projected shortfall in unsecured property tax revenues ($26,500). The following chart represents actual property tax revenues since fiscal year 2008/09 and the projection for fiscal year 2012/13. 3-14 QUARTERLY FINANCIAL REPORT FISCAL YEAR 2013: THIRD QUARTER Page 4 of 6 Motor Vehicle License Fee (VLF) -With the State Budget Act of 2004, the allocation of VLF revenues to cities and counties was substantially changed. Since 2005/06 the majority of VLF revenues for each city grew essentially in proportion to the growth in the change in gross assessed valuation. Due to the new formula by the State, 96% of the City's VLF revenues fluctuated with changes in assessed values in the City. The other 4% of VLF revenues received by the City were based on a per capita formula but has since been shifted per SB89. Provisions in SB89 shifted hundreds of millions of Vehicle License Fee revenues to fund the state law enforcement grants. Statewide, SB89 took $130 million of city general revenue and shifted it to save state law enforcement grant programs. This change applied to the 4% of VLF revenues that were based on a per capita formula. The City of Chula Vista lost approximately $700,000 annually due to the State take away. VLF revenue projections remain unchanged from the second quarter fnancial report and are still projected to exceed budgeted levels by $128,000 due to prior year collections. The fallowing chart represents actual VLF revenues since fiscal year 2008/09 and the projection for fiscal year 2012/13. Franchise Fees -Franchise fee revenues are generated from public utility sources such as San Diego Gas & Electric (2% on gas and 1.25% on electricity), trash collection franchises (9.05% fee), and cable franchises (5% fee) conducting business within City limits. SDG&E collects the franchise fee from Chula Vista customers and remits these revenues to the City. Trash franchise fees and cable fees are based on fixed rates. Projections for Franchise Fee revenues have been updated to continue the positive trend experienced in fiscal year 2012. Updated projections indicate that these revenues are trending to exceed budget by approximately $372,000; an increase of approximately 4.7% when compared to budget. A portion of this increase can be attributed to a final payment received for the South Bay Power-Plant in the amount of $130,000. This reflects activity from July 2012 through December 2012 only, and this revenue will not be obtained in future years. The following chart represents actual franchise fee revenues since fiscal year 2008/09 and the projection for fiscal year 2012/13. The chart reflects the drop off in Franchise Fee revenues due in part to lower natural gas prices and the loss of revenue from the closure of the South Bay Power Plant. Transient Occupancy Tax (TOT) -The City receives 10% of hotel and motel room rates for stays less than 30 days. Projections for TOT revenues have been updated to reflect the positive trend experienced in fiscal year 2012. Updated projections indicate that these revenues are trending to exceed budget by approximately $187,900; an increase of approximately 8.8% when compared to budget. The following chart represents actual TOT revenues since fiscal year 2008/09 and the projection for fiscal year 2012/13. 3-15 QUARTERLY FINANCIAL REPORT FISCAL YEAR 2013: THIRD QUARTER Page 5 of 6 Transient Occupancy Tax (TOT) 3~~ as 3 $~ "' 52 .5 `o . - $2.0 $2.1 $2.0 51.5 51.0 50.5 So.o FY09 Actual FV10 Actual FVll Actual FY12 Acual FV13 Projetted Utility Users Tax (UUT) -The City adopted its Utility Users Tax (UUT) in 1970. The City of Chula Vista imposes a UUT on the use of telecom at the rate of 5% of gross receipts. The UUT on natural gas services is $0.00919 per therm and $0.00250 per kilowatt on electricity services, which equates to approximately a 1% tax. Current projections for UUT revenues indicate these revenues are tracking at budget. The following chart reflects actual UUT revenue since fiscal year 2008/09. Fiscal year 2012/13 is projected and does not reflect actual collections. Utility_Users_Tax UUT) 510 0 0 5 FY09 Actual FV30 Actual FVll Acual FV32 Actual FV13 Projetted Expenditures The table below reflects an Amended General Fund budget of $130.4 million. This number differs from the Amended Budget reflected on page 2 of this report due to the inclusion of prior year encumbrances of $2.9 million. These prior year encumbrances largely reflect the carryover for capital improvement projects. The following table reflects the General Fund amended budget and actual expenditures by department as of March 31, 2013. In total, Departments have expended 66% of the General Fund budget after 75% of the fiscal year has elapsed. $7.s Ss.o -- - $6.0 54 0 3.5 3.5 . 52.0 0.0 General Fund Expenditures as of 3131/2013 I ~~. City Council $ 1,319,376 $ 872,734 66% Boards & Commissions $ 10,076 $ 5,473 54 City Clerk $ 918,722 $ 595,099 65% City Attorney $ 2,534,696 $ 1,735,579 68% Adninistration $ 2,016,602 $ 1,329200 66% Information Tech Srvcs $ 2,925,647 $ 2,210,386 76% .. ..,. ....... Human Resources $ 2,091,759 $ 1,530329 o 73/ Finance $ 3,265,377 $ 2,351,291 72% Non•Departmental $ 10,762,651 $ 3,246,515 30% General Services $- 2,444,281 $ 1,679,867 69% Dev Services (GF) $ 2,872,771 $ 1,914,403 67% ~~ Police $ 44,094,682 $ 30,552,373 69% Fre $ 23,908,014 $ 16,510,350 69% Public Works $ 24,296,341 $ 16,313,612 67% .._. Recreation $ 3,673,267 $ 2,288,518 62% Library $ 3,262,210 $ 2,314,508 71 Total Expenditures $ 130,396,672 $ 85,450,237 66% General Fun d Projections by Departmen t f or June 30, 20 13 ~-. r City Council ~ $ 1,319,376 $ 1,319,376 $ - Boards & Conrrissions $ 10,076 $ 10 076 $ City Clerk $ 918,722 $ 800,509 $., (118,213) Cdy Attorney $ 2,534,696 $ 2,457,379 $ ~ (77,317) Adninistration $ 2,016,602 $ 1,959,563 $ (57,039) Information Tech Srvcs $ 2,925,647 $ 2,909,571 $ (16,076) Human Resources $ 2,091,759 $ 2,059,639 $ (32,120) Finance $ 3,265,377 $ 3,212,947 $ (52,430) Non-Departmental $ 10,762,651 $ 11,522,715 $ 760,064 General Services $ 2,444,281 $ 2,400,240 $ (44,041) Dev Services (GF) $ 2,872,771 $ 2,689,861 $ (182,910) Police $ 44,094,882 $ 43,348,724 $ _ (746,158) .. . Fire $ 23,908,014 $ 23,908,014 $ - Public Works $ 24,296,341 $ 24,296,341 $ Recreation $ 3,673,267 $ 3,464,634 $ (208,633) ~~~~ Library $ 3,262,210 $ 3,262,210 $ - Total Expenditures $ 130,396,672 $129,621,799 $ (774,873) Notes: 1. Expenditure savin gs help miti gate program revenue shortfalls and help departments stay within their budgeted net cost . 3-16 QUARTERLY FINANCIAL REPORT FISCAL YEAR 2013: THIRD QUARTER Page 6 of 6 2. Projected expenditures do not yet reflect the anticipated appropriations for unanticipated attorney services and critical equipment replacement. Based on expenditure trends through the nine months of the fscal year, staff is projecting expenditure savings of approximately $0.8 million. These expenditure savings largely reflect savings in the personnel services category and in the utilities category. The variance of $0.8 million in Non-Departmental reflects the budgeted salary savings which are now being realized in various departments. Currently, all City Departments are projected to be within budget or generate expenditure savings. A portion of the projected $0.8 million will be used to address unanticipated attorney services costs and critical equipment needs -staff will return to Council in June for a budget amendment request. Budget Transfers The following table reflects the administrative budget transfers that have been approved through the second quarter. Summary of General Fund Budget Transfers Transfer for Citic Center Supplies & Services tc Sep-12 signage improvement project Non-Departmental $ 15,000 Capital Realign butlget antl adjust Supplies 8 6enices to Sep-12 wage related objects City Council $ 1.544 Personrrel SerNCes Tmnsier to atltl budget for a one-time refund afire Utilities to Other Sep-12 inspection fees Fire $ 500 Expenses Supplies 8 Services to Nor12 ReNnds for overyayments Human Resources $ 7,525 Other Expenses Trasnsfer to cover supplies Utilities to Supplies 8 Noo-12 antl services expenses Animal Care Facility $ 4,000 Services Transfer tar Gmfiti program Supplies 8 Services to Mar-13 o~edime expense Public Works $ 4,000 Personnel Services Tmnsier for recreation telecommunications antl Personnel Services tp Mar-13 computer equipment Recreation $ i5,000 Supplies 8 SeMCes Transfer to cover anticipated Personnel SeMCes to Mar-13 conference expentlitures City Council $ 4,500 Supplies 8 Services Summary of General Fund Budget Amendments e. a-- 7/12/20t2 2012-146-Target donation $ 7,800 $ 7'800 $ - 9/1112012 2012-168 -Cod California Challenge $ 5,000 $ 5,000 $ - 9/11/2012 2012-170-Target gran) $ 2,000 $ 2,000 $ - 9I18/20t2 2012-174 - Walman donation $ 1,000 $ 1,000 $ - 9/18/2072 2012-177-COPS grant $ 174,834 $ 174,834 $ - 9/25/2012 2012-181 -Animal Care Assistant $ 38,686 $ 38,686 $ - First~uarterbubtofal §223,320 E 223,320 E - 10/23/2012 2012-194- 1st quarter cleanup $ 7,116 $ 7,116 $ - ti/20/2012 20t2-210-Rotary Club Donation $ 825 $ 825 $ - 11/20/2012 2012-211 - Vhcl Storage Fire Stn 6 $ 9,750 $ 9,750 $ - iD412012 2012-231 -South County AS Spay Svcs $ 39,000 $ 39,000 $ - 1211712012 2012-244 - Reclass of serious positions $ - $ - $ - 12/1112012 2012-250 -Network Engineer Atltlition $ 402 $ $ (402) Secontl Quarter Subtotal $ 57,093 $ 56,687 E (402) 1/15/2013 2013-006 -San Diego Loa Enforcement Coordination Center Administrative Fee $ 6,798 $ - 8 (6,796) 1/7 512 01 3 2013-009 -Friends of CV Library Donation $ 45,000 $ 45,000 $ - 2/5/2013 201}012 - 610 Bay BI W Purchase $ 27,fi00 $ 1,457,600 $7,430,000 2J2612013 201}021 - 2nd quarter cleanup $ (44,154) $ (44,154) $ - 2126/2013 2013-026 - Stanely Estate Donation $ 10,000 $ 10,000 $ - 3/t9/2013 2013-039 -Cal EMA stoke 1eam and UASl Training $250,000 $ 250,000 $ 3/26/2013 201}050 - Aqualica Donation for Community Fun Run $ 5,000 $ 5,000 $ - 3/2 612 01 3 201}054 - FRALS Program Stadup costs ~$ - $ 665,191 $ 665.191 Third Quarter Subtotal $300,244 E 2,388,637 52.088,193 Total Appropriations to date ;580,667 § @,668,648 52,087,991 Mid-Year Budget Amendments Mid-year appropriations approved through March 31, 2013 totaled $2.7 million with offsetting revenues of $580,657. The City Council approved the following budget amendments during through third quarter: 3-17 RESOLUTION NO. 2013- RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CHULA VISTA MAKING VARIOUS AMENDMENTS TO THE FISCAL YEAR 2012/13 BUDGET TO ADNST FOR VARIANCES AND APPROPRIATING FUNDS THEREFOR WHEREAS, the City Charter states that at any meeting after the adoption of the budget, the City Council may amend or supplement the budget by motion adopted by the affirmative votes of at least four members; and WHEREAS, staff is recommending various transfers between expense categories in order to better align the budget with actual revenues and expenditures; and WHEREAS, the recommended budget amendments in the General Fund reflect a net increase in expenditures and revenues of $1,125,000 and result in no net fiscal impact to the General Fund; and WHEREAS, the recommended appropriations to other funds reflect a net increase in expenditures of $482,510 and an increase of $3,818,443 in revenues resulting in a net fiscal impact of 3,335,933; and WHEREAS, the recommended appropriations to Successor Agency/RDA Funds reflect a net increase in expenditures of $2,839,215 and an increase of $2,839,215 in revenues resulting in no net fiscal impact; and WHEREAS, staff is recommending appropriations from reserves from the following funds: Federal Grants Fund ($50,000), Fire Equipment Lease Fund ($24,065), Recycling Fund ($13;374); RDA 2008 TABS Project Fund (641,835) these funds all have sufficient reserves for these appropriations. NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Chula Vista does hereby amend the fiscal year 2012/13 budget and approve the following appropriations, as detailed in the report presented to the City Council, a copy of which is in the Office of the City Clerk; 3-18 Resolution No. Page 2 General Fund: Police $1600,000) $ 305,000 $ - $ - $ - $ 1ID,000 $ 1]5,000 $ - $ - $ - Fire $ 125,000 $ - $ - $ - $ - $ - S 100,000 $ 225,000 $ 225,000 $ - PublicWOrks $1350,000) $ - $ - $1150,000) $ - $ 35,000 $ - $ (465,000) $ - $ 465,000 Non-De artmen[al $ $ 900,000 5 465,000 $ $ $ - 5 $ 1,365,000 $ 900,000 $ X465,000) Total General FUnd $(ffiS,OOD) $ 1,205,000 $ 465,000 $(150,000) $ - $ 155,OOD $ 2]5,000 $ 1,]25,000 $ 1,]25,OOD $ - Other FUnds: Federal Grants FUntl $ - $ - $ - $ - $ - 5 - $ 50,000 $ SO,ODO $ - $ (50,000) Fire Equipment Lease FUnd $ - $ 24,065 5 - $ - $ - $ - $ 24,065 $ - $ (24,065) Equipment Lease FUntl $ - $ - $ - $ - $2]5,000 $ - $ P5,000 $ 2]5,000 $ - Wasie Management & Recycling FUnd $ - $ - $ - $ - $ - $ - 5 13,3]4 $ 13,3]4 $ - $ (13,3]4) Environmental Services Fund $ - $ - $ - 5 S 5 5 5 - $ 13,3]4 $ 13,3]4 O[her City Fees $ - $ 20,517 $ - $ - $ 99,554 $ - $ - $ 120,0]1 $ 120,0]1 $ - TrafficCOngestionRelief $ - $ - $ (5,489,006) $ - $ - $ - $ (500,000) $ (5,989,0061 5 (2S]9,008) $ 3,409,998 Gas Tax FUnd $ 5 $ 5,489,006 $ - $ - $ - $ 500,000 5 5,989,006 $ 5,989,006 $ - ToGIOIherFUnds $ - $ 44,582 $ - $ - $ 3]4,554 $ - $ 63,3]4 $ 482,510 $ 3,818,443 $ 3,335,933 RDA 2008TAB5 Project $ - $ $ - $ - $ - $ - $ 641,835 $ 641,835 $ - $ (641,835) Redevelopment Obligation Retiremen[FUntl IRDRF) $ - $ - 5 - $ - 5 - $ - $ 2,19],380 $ 2,197,380 $ 641,835 $ (1,555,5451 Long-Term Advances RDA $ - $ - $ - $1600,000) $ - $ (3,620,223) $ (4,220,223) $ (3,620,223) $ 600,000 Lon -Term Advances SA $ 5 5 - $600,000 $ - $ 3,620,223 $ 4,220,223 $ 5,817,603 $ 1,59],380 Total SA/RDA Funds $ - $ - $ - $$ 5 - $ - $ 2.839,215 $ 2,839,215 $ 2,839,215 $ - Tatal'.Budeet%uiiendmen$. '$ffi$000 $ }i249,5ffi'~: .$ -469,0110 >i5p lq0 $~37C'554 $SSS,000' . 3Y12,i89 $ 4,446,]23 $ 7,782,658 $" .3,335,933' Presented by Maria Kachadoorian Director of Finance/Treasurer Approved as to form by t,(U.G ~L+1 Glen R. Googins --~~c'- City Attorney U J:\Attorney\FINAL RESOS AND ORDINANCES\2013\OS 28 13\Q3 Financial Report Resolution (3).doc 5/23/2013 ]:58 PM 3-19