HomeMy WebLinkAbout2013/11/05 Item 05 ,.__- _ .
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�� �-;., -� - AGENDA STATEMENT
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CHUTAVISTA
NOVEMBER �, ZOli, Item �J
TTE1�I TITLE: QUARTERLY FINAi\TCIAL REPORT FOR THE QUARTER
ENDIl��G SEPTEMBER 30. 2013
RESOLUTION OF THE CITY COiT�iCIL OF THE CITY OF
CHULA VISTA MAKII�'G VARIOUS AMEIVDMENTS TO
THE FISCAL YEAR 20li/14 BUDGET TO ADJUST FOR
VARIAi\iCES AI�TD APPROPRIAT�TG FUITDS TI�REFOR
�
SUBDZITTED BY: DIRECTOR OF FINAi\� E/CITY TREASURER��
REVIER'ED BY: CITY A�\TAGER
ASSISTAi\TT CIT ' _4A1�'AGER�
4hTHS VOTE: YES � NO �
Sli�•L11ARY
The Finance Department prepazes quarterly fmancial reports for tbe General Fund that
reflect budget to actual comparisons, projected revenues and espenditures; and hiehliaht
major variances that may require additional action or changes. The quarterly financial
reports aze in compliance ���ith Section �04 (� of the Cit<< Charter, �i�hich requires that
quarterly financial reports be filed by the Director of Finance throu�h the Cit}� �4anaeer.
In preparing the quarterly financial projections; staff has identified various budeet
changes that aze needed to better reflect actual revenues and expenditures or address
chanaes in budeetar��needs. For Qovemment entities, a budeet creates a legal framework
for spendinQ durine the fiscal yeaz. After the budeet is approved there are cucumstances;
which azise that could require adjustments to the approved budget. Council Polic}' 220-
02 "Financial Reporting and Transfer Authorit�-' «=as established in January of 1996 and
allo�as for budset transfers to be completed. This report discusses budeet adjustments that
staff is recommendine in the current vear General Fund as ��ell as various other funds.
E\'VIRO\�ZE\TAL REVIE�Y
The Environmental Review Coordinator has reviewed the proposed activity for
compliance N�th the California En��uonmental Qualify Act (CEQA) and has determined
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NOV�EMBER �, 2013, Item S
Page 2 of 9
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 ph}�sical
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 ihe resolution.
BOARDS/CODZMISSION 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 variances that may require additional action or changes. The quarterly financial
reports are in compliance with Section 504 (fl of the City Charter, which requires that
quarterly financial reports be filed by the Direcfor of Finai�ce through the City Manager.
Attachment A— Quarterly Financial Repori provides the fii�ancial outlook for the General
Fund for the current fiscal year and includes sunmiary information for revenues and
expenditures.
The following chart summarizes the projections for the first quarter of fiscal year 2013/14
for the City's General Fund. The amended budget column includes all Council approved
changes to the fiscal }�ear 20li/14 adopted budget that have taken place through the end
of the first quarter endin� September 30, 2013. The projected column lists the fiscal year
2013/14 budget projected budget actual amounts to revenues and expenditures including
the projected impact to the City's reserves as of the end of the first quarter.
t�`i�� ��t',`` �'�' ' � ' `�
,��"-`�A` ``�" '�* .�
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aa�. ��„�. `.?ti�., :�'. � �,
Reserves -July 1, 2013 (unauditcd) � $143 $143
2evenucs &Transfers In $727.8 $128.5
E.pendi[uresRl'rar�sfersOut . ($127.8) (5127,6)
PendingAppropriations $OA ($0.5)
Projected Surplus/Deficit $0.0 $0.4
Projected Fund Balance for
.Iune30, 2014 $143 $14J
PercentageofOperatingBudget 11.2% 11.5%
Notes:
1. The Amended Budget and projec�ions rellected in this�able do not include - �
prior year appropriations for capital improvemeni projects and other
� ' , encumbrances that �vere carried foncard into the fiscal year 2013/14
. budeet. These ezpendimre impacts are already reflec�ed in the estimated
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NOVEI�I�IBER �. 2013. Item �
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fund balance as of luly 1,2013 and aze iherefore not included in the above
tabie.
2. July 1, 2013 resen•es are unaudited. Final audited finaricials �s•il1 be
reported to Council lacer this year.
As noted on the table abo��e; General Fund rz��enues are tracking to ezceed budaeted
levels. This is due to a projected increase in discretionar�- revenues for fiscal ��ear
2013/14 based on first quarter actuals. Staff is recommendine the use of this
unanticipated re��enue to address deferred maintenance issues at various facilities. These
e�penditures aze one-time in natwe and ���ill not ha��e an oneoine fiscal impact. This
recommendation is presented in a separate staff report. The most recent Five Year
Financial Forecast reflects a projected deficit of$4.0 million in fiscal ��ear 2014/1�. The
gro��Rh in re�enue will help lo���er the projected deficit for the comine fiscal veaz. It
should be noted that the City's financial situation is impro��ine but at a modest pace.
Staff���ill continue to monitor departmental e�penditures and mav recommend additional
adjustments in future quarterl�� financial reports.
General Fund Revenues — As discussed in the First Quaner Financial Report_ General
Fund revenue projections for fiscal }�ear 2013/14 have been updated to reflect previous
fiscal yeaz actual receipts and the modestly improvins economic trend. The projections
indicate some improvement in discretionan� re��enues when compared to budeet In total;
discretionazy revenues are expected to exceed budeeted levels in the current fiscal �ear
b�� a net $1.2� million. The lareest projected increase is in propem� ta� and motor
�ehicle in-lieu re��enues that ha��e been updated to reflect the impact of a 3.4% increase in
cin�-�ride assessed property ��aluations. Based on earlier projections, the budget assumed
a 2.0% increase in assessed �aluations. Franchise Fees and Transient Occupancy Ta�
re��enues are also projected to modestl�� increase based on previous fiscal ��ear actual
receipts.
The projected increase in discretionar�� re��enues is offset b�� a �0.�3 million projected
decrease in revenue from other asencies that ��ill not be realized bv the Police
Department. This projected re�°enue shortfall is due to decreased participation in
reimbursed task force activities. The reduction of participation in these task forces is due
to the reassignment of staff to duties performed b�� positions that �i�ere vacant. This
revenue shortfall is projected to be offset from salarv savines that ���ill be eenerated from
vacant positions within the Police Department. Expenditures sa�inas generated from
salary savings are ezpected to decrease as the fiscal year proeresses as �acant positions
aze filled.
General Fund Expenditures — Based on eapenditure trends throueh the end of the first
quarter, there are no major issues in departmental budgets. Staff is recommending an
appropriation of S41�,000 in the \on-Departmental budget to fund increases in the
followine - the propem damage insurance premium, a reduction in the salan� savines
liability in the General Fund and to increase De��elopment Sen ices Department subsidy
for the promotion of energ�� efficienc� items includine solar panel and ���ater heater
installations. These are further discussed below. This appropriation �vill be offset b}�
better than e�:pected discretionary revenues.
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NOVEMBER 5, 2013, Item._�
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The projected increase in General Fund discretionary revenues will also afford the City
the flexibilit}� to address some of its critical needs. These critical needs are
predominately in the area of deferred maintenance projects at major City facilities that
have been deferred over the ]ast several years due to ]ack of funding. Specific
infonnation and funding reconunendations far the use of the additional projected
revenues to address critical needs �i-ill be brought forward in a separate staff report; that
���ill also be considered by Council on November 5, 2013.
The net impact of tbese changes is projected to be a positive impact of$0.4 million to the
City s resen�es for the fiscal }�ear ending June 30, 2014.
There are some areas of concern that staff will continue to monitor and will recommend
adjustments as needed in the future quarterly financial reports. Areas of concern indude
the follo«-ing: -
Utilities — The fiscal year 2013/14 adopted budget reilecTed anticipated rate increases for
utilities. The impact to electricity and water utility costs is esti�nated as follows:
• Utilities/Electrieity — The preliminary estimated impact to the General Fund is
estimated to be $S18,A00. This estimate has been factored into the First Quarter
Financial Report budget projection. Staff has been made a�n-are of impendine rate
increases that are higher than anticipated for electricity costs that are due to take
effect during tl�e fiscal year. Staff will retur�z with recommended adjustments to
��arious departmental electric utility budgets when more infonnation is available
and staff is better able to project the i�npact to departmental budgets
• Utilities/Water - Based on the expenditures for water through the first quarter and
prior year eapenditures, the wafer expenditures are anticipated to exceed the
amount budgeted for Parks bti- about $150,000 and to eaceed the amount bud�eted
for the Public Works department by about $100,000. Tl�e actual budget deficit
���ill depend largely on this yeaz's rainfall. The expenditures will be closely
monitored and assessed again at mid-year to determine if a budget amendment is
��arranted.
Fire Department — Fire o��ertime costs are trending hi�l�er tl�an budgeted le��els as of the
end of the first quarter. Staff will continue to monitor these costs to determine if these
costs can be offset ���ith additional revenue or whether additional appropriations �vill be
necessarv.
Public Warks/Central Garage - Tl�e fiscal }'ear 2013/14 Supplies & Ser��ices budget for
the Central Garage was decreased by about $165,000 from tl�e prior year in order to more
closely align ���ith projected revenues. Currentl}�, the expenditures are within budget; but
will continue to be closely monitored as result of the revised budgeted level. Potential
risks to this bud�=et may include l�igher than anticipated costs due to more frequent repairs
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NOVED4BER �. 2013. Item 5
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required by the Cit��'s aeine fleet and increased espenditures that ma.� result from an
unanticipated level of vehicle accidents.
The net unpact of these projections and revisions is a positive $0.4 million improvement
to the Cin�s reserves for che fiscal }�eaz endine June 30, 2014.
i � � • II ' I �� ' - y`�'=. �. 's€" r e�S..�=,: . "y�':."� t�'r�'''" � ��...:. � � L-
General Fund Amendments
Staff is recommendine budeet amendments in Library, Public �\rorks, Animal Care
Facilit� and T'on-Departinental. These chanees result in no net fiscal impact to the
General Fund.
Public ��'orks/Libran� — Staff is requestine a transfer in the amount of 53;�70 from the
Supplies and Sen�ices budaet of the Librar�� Department to the Personnel Sen ices budeet
of the Public \�JOrks Department. The appropriations �+�ill be used to pa�� for custodial
sen�ices to be performed by Public Works staff at the Ota}� Ranch Librazv branch.
Librazv— Staff is requestina a transfer in the amount of$2;3�2 of residual funds from the
Califomia Department of Education Section 321 Fund to the Library Department This
revenue �vas pre��iousl}� received by the City as part of a Literac<< Grant from the State.
The transferred funds ��ill be used to purchase books for the Literac} ProQram in the
Library Department. The Librarv Department is also requestine the appropriation of a
5300 donation for the purchase of books.
Non-Departmental — Staff is requesting an appropriation of S�1�.000 to.be offset b�� an
unanticipated increase in discretionan' re�enues. 7�hese appropriations �i�ill be used to
address the follo�cin2:
• Increase in the transfer to the De�elopment Sen�ices Fund (DSF) — The budeet
includes a transfer from the General Fund to the DSF to reimburse the DSF for
permit subsidies that encourage energ�� efficiencv related projects that include
��ater heater and solar panel installations. Based on fiscal vear 2012/li
construction permit acti��it}'. it is anticipated that the budeet ���ill�fall short b��
appro�imately �1�0;000. Staff is recommending an appropriation to the Transfers
Out categon� of the 1�'on-Departmental Budeet to address this issue.
• lncreased property insurance premium — The Cit�� pa��s its propem� insurance
premium on an annual basis. The insurance premium for the current }�eaz has
exceeded the budseted amount bv $6�;000. An appropriation to the supplies and
ser��ices cate�orv of the Non-Departmental budeet is requested to address this
increase.
• Reduction in salary savines liability — The Non-Departmental budset includes
�870;000 in anticipated salan� sa�ings. Salarv savinss are budgeted in the Non-
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NOVEMBER 5. 2013, hem S
Paee 6 of 9
Departmental budget but are realized in departments when turnover occurs. Due
to lo«�er than anticipated turnover; staff recommends an appropriation of
$200,000 to be made to the I�'on-Departmental personnel services budget in arder
to reduce the budgeted salar}� savings level.
The follo���ins chanees are also requested in the Non-Departmental budget:
• Non-CIP Project - The City received unanticipated revenue from SDG&E in
the amount of $9,889 for utility incentives from past energy retrofit projects.
These funds were placed in the American Recovery & Reinvestment Act
(ARRA) Fund. Ho���ever; the ARRA Fund is reserved for Federal funds. Staff
is requestin� approval of an appropriation of$9,889 to the Non-Departmental
CIP eapense category that �n�ill be funded from a transfer from the ARRA fund
in order to correctly account for these funds.
• Revenue Object Correction - Staff is requesting that revenue in the amount of
$161,000 tl�at was budgeted in fhe Grant-0ther Agency object account be
transferred to the Donations object account to accurately refleet these
revenues in tl�e City's financial system. These revenues were applied for and
received by the A9ayar's office from Wells Fargo as part of the Roy and
Marian Holleman Foundation. The revenue will be used to fund a Council
approved capital improvement projecf at the City's Animal Care Facilit��.
Animal Care Facilitv — In December 2012; the County of San Diego Animal Services
contracted ti�ith the Chula Vista Animal Care Facility (CVACF) to perform two spay and
neuter clinics per week at their South CounYy Animal Shelter. In August 2013, the
County notified CVACF that they would like to add one additional clinic to their Central
Animal Shelter effecti��e September l, 2013. The additional revenues will be used to pay
� for medica] supplies and hourly wages for the "Spay Shuttle" staffing. Staff is requesting
an appropriation of $51,000 to Persom�el Services and $17,000 to Supplies & Ser��ices
categories to the Aniinal Care Facility, which will be fully offset by the additional
County revenues. The requested budget adjustment will l�ave a no net fiscal impact to the
General Fund.
Amendments to Other Funds
Staff is recommending budeet amendinents to the following other funds:
California Department of Education Section 321 Fund — Staff is requesting an
appropriation of $2;352 to the Transfers Out category of the California Department of
Education Section 321 Fund to reimburse the General Fund for previous fiscal year
expenses incurred on behalf of literacy programs tl�at were funded by State Department
of Education section 321 Grant Funds. The Ciry no longer receives these grant funds,
ho���ever staff is requesting the transfer of remaining residual funds to the General Fund
to reimburse for expenses previously incurred by the City for reimbursable costs related
to this grant.
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NOVED�IBER �. 20li. Item S
Paee 7 of 9
Other Grants Fund — Staff is requesting an appropriation of S13;8�0 in the Other
Expenses Category of the Other Grants Fund for continuation of the Centennial Greenbelt
Signage Program. Council appro��ed these funds in fiscal ��ear 2012-13 as part of the San
Diego I�'ei2hborhood Reinvestment program sponsored by the Count}� of San Diego. The
funds were granted to the Cit�� for the Centennial Greenbelt Sienaee Proeram. The
appropriation is offset b�� grant re��enue. � V
American Recoverv & Rein��estment Act Fund — The Ciri� received unanticipated
revenue from SDG&E in the amount of �9.889 for utiliq- incentives from past enerev
retrofit projects. Per Council Resolution 2012-07�, the unanticipated re�enue ���as
appropriated to the Municipal Solaz Photo��oltaic- Phase II Project (GG206) Project
Expenditures Budaet cateeon� of the American Recovery & Reinvestment Act (ARRA)
fund as these funds «�ere goine to be used in conjunction «•ith ARRA fundine. Ho«�ever.
the ARRA fund is reserved for Federal funds. Staff is requesting an appropriation in the
amount of �9;859 to Transfers Out category of the American Recover}= R Rein��estment
Act Fund and a matchine appropriation to the Transfers In cateeory of the Non-
Departmental CIP Fund be made to in order to correct the initial appropriation. These
requested budeet changes are neutral as thev aze being made From available budeeted
funds. �
TransNet Fund - All projects the City proposes to fund �tith Transi�'et funds must be
included in Reeional Transportation Improvement Program (RTIP). On Mazch 27, 2012
per Council Resolution 2012-0�2 Council appro��ed an amendment to the 2012 RTIP
���hich included the reallocation of$7�.000 from completed Trans\'et projects to STL261
— \Villo�i� Street Bridge for Traffic Sienal Design. This reallocation n-as to be
incorporated into the Fiscal I'ear 2012-15 Capital Improvement Program (CIP).
Ho���ever, the appropriation to STL261 �vas not included in the adoption of the Fiscal
Yeaz 2012-li CIP Program Budget. Staff is requestine to appropriate the appro��ed
57�.000 allocation to STL261 from the TransNet fund. There aze sufficient funds in the
TransNet fund to co��er this appropriation.
Transportation Sales Tax (TransNet) and Other Transponation Proerams funds — Capital
Improvement Projects TF368 and TF373 ���ere funded.from Transportation; Communit��,
and S��stem Presenation (TCSP) and Hiah���ay Safetv Impro��ements Proeram grants
respecti�el}�, �vithin the Other Transponation Proerams Fund. All elieible capital
improvement proeram costs for these projects (TF368 and TF373) ha��e been incurred;
ho�rever expenditures totalins �19;999 were posted to the TransNet Fund in error. Staff
is requesting that an appropriation in the amount of �19=999 from the available fund
balance of the Other Transportation Programs Fund to the Transfers Out categon� and a
matchine appropriation to the Transfers In category of the TransNet fund be made to
reimburse the Trans\Tet fund for eapendimres incurzed in the prior fiscal veaz. The
requested budget changes result in a neQati�e impact to the Other Transportation
Proarams Fund in the amount of�19;999 and a positive impact to the Trans\Tet Fund in
the matching amount.
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NOV�MBER 5. 2013. Item 5
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DECISION MAKER CONFLICT
Staff has re��ieN�ed the decision contemplated by this action and has deterniined that it is
not site specific and consequently the 500-foot rule found in California Code of
Regulations section 18704.2(a)(1) is not applicable to this decision. Staff is not
independently a���are; nor has staff been infonned by any City Councilmember; of any
other fact that may constitute a basis for a decision maker couflict of interest in this
matter.
CURRENT YEAR FISCAL IA4PACT
There is no fiscal impact resulfing from accepTing the Quarterly Financial Report.
Approval of the resolution amending the fisca] year 2013/]4 bud�et will result in tl�e
following appropriations. The resulting fiscal impacts to various funds are also listed in
the follo�ving table.
Summary of Budget Appropriations and Amendments by Department and/or Fund
� � " S:�` ;i�: � � "''�`�` �.�«��a�;;��w' :..ic ' �.-��:'�
General Fund:
Non-Depanmental ARRA funds trans(er to Non-DepL CIP Pmjects $ 9,889 S 9,889 $ -
_"'"_" _'_"" _ _ .. __ .. . _. _. _"_._._ . _.. ._... ._" _.. _.."" . ... . . . .
General Pu�pose Revenue ApproPrintion for Insurance,
Development Sves.Subsidy and Salaq'Savin�Reduc�ion
o(fsetbyDiscretionap�RevenueprojeMedincrease $ q75,000 5 415,000 $ -
._... _.. . .__...._..._. _ ._._—_—._.. - _ .__.._. . ..____._..___ . , .. .._....' __..._. . _._.._. ._ . _.._..._. . .._..._.. . .
Gram Other Agency Re�enue Reclass to Donatmn $ - $ - $ _
Anima7CareFacilitc An'vnalClinicAppmpria[ions S 68,000 $ 68,000 S -
Public�1�orks Cus�odial Sen�ices Otay Branch Library $ 3,570 $ 3,570
Librarv CA DepL OfEducation Appmpriations/Transfer $ 2,352 $ 2,352
_"' ._ . ...__ .., _...._, _. _. �. _ . _._. .__'____...._ ._._.... .__ ._ _...._ __'.... _.._. _'. '"—_"'
� Cus�od�al Sentces O�a��Branch Lbraq ' $ ( ,570) 5 (3,570)
. .___ . ..._ . __. .... . .. _.._ ._"_ ' ' ' _....'_
. __'_—... . ....—._.._ _..._.... ... _ . . __'__ .__. .__""'__.
_ . .__—'
Library Donation for Books � $ 300 $ 300 3 -
TOTALGF_YERALFU\D 5 495,5-01 5 495,541 5 -
.. ._ . . . . __'"'
"" " "_......_.__ . .
Other FunJs
___.. _._..—.. . .' _ " '" __ '.. "_""' " _"_'_'_"_.._. __.. .__ . ....., .__.. .. ._._. '. _ . . . _. . __ ....
Transp Sales Ta�FUnd C[P Propfam appropriations from Trans Net Fund $ 75,000 S - S h.000
_ ___'. __" "_ _ . _ _ _ __ _"_'_"_""______"_"__ __"_"__"'_"'.__ _ "_ " . _ _'_ _. . .... '"'_ _ ".. .—�.__ .
Other Transpon Fund transfer to Tmns Net Fund $ - $ 79,999 S (19,999)
CA Dep[oCEduc Section 321 CA DepL OfEducation Appmpriations/Transfer $ 2,352 $ - S 2,352
Other Grants Fund Other Grants Fund appmpria�ions S.D_Reinvest Prog $ li,A50 $ - $ l3,850
Amer.Recoveq� &Reinvesl.Aa ARRA funds vansfer�o Non-DepL C1P Projecis $ - $ - $ _
Other Transpona[ion PmErams Other Transport Fund vansfer[o Trans Net Fund $ 79,999 S - 5 19,999
TO'1'ALOTHERFUNDS S ]11,201 S 19,999 S 91,202
TO'1'ALBUDGETA�IENDJ7En7'S S 606,7a2 S S15,Sa0 5 91,202
Approval of the resolution resulis in no net fiscal impact to the General Fund and to the
ARRA fund. Other Funds are affected as follows:
• The Transportation Sales Taa Fund H�ill have a net impact of$55,001.
• The Califomia Department of Education Fund will have a net impact of$2,352.
• The Other Grants Tund ���ill ha��e a net impact of$13,850.
• The Other 1'ransportation Programs Fund will have a net impact of$19;999
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NOVE?��IBER�. 2013. Item �
Paee 9 of 9
ONGOING FISCAL IA4PACT
There aze no ongoine fiscal impacts resultin� from the budget amendments described
abo�e. y
ATTACHNIE\'TS
First Quarter Financial Report
Prepared b��: Angelrca Aguilar, Budget and.4nah>sis Manager, Finance Department
5-9
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OVERVIEW disproportionate share of this improvement. Given this
This financial report summarizes the City's General assessment, real personal income growth is forecast to
Fund financial position for fiscal year 2014 through be 1.9% in 2013, followed by 3.3% in 2014 and 2015.
September 30, 2013 and projecting out to June 30, Unemployment will fall through 2013 and will average
2014. The purpose of this report is to provide the City about 8.9% this year. In 2014, the unemployment rate is
Council, Management and the citizens of Chula Vista expected to fall to 7.9% and then to 6.9% in 2015.
an update on the City's fiscal status based on the most The San Diego Forecast3 - The USD Burnham-Moores
recentfinancialinformation. Center for Real Estate's Index of Leading Economic
ECONOMIC UPDATE Indicators for San Diego County rose 0.4 percent in
� August. This advance was led by sharp increases in
The National Forecast - In the September 2013 report, consumer confidence and smaller gains in local stock
Senior Economist David Shulman of the UCLA prices. These gains outweighed declines in other factors
Anderson Forecast says that Gross Domestic Product including building permits, initial claims for
(GDP) will grow at an estimated 3.0% annual rate unemployment insurance, and help wanted advertising.
through 2015. Although this is a significant The USD Index has now gained for 12 consecutive
improvement, Shulman indicates that iYs important to months.
keep in mind that the forecasted rate of growth is still
well below the typical 4%-6% rates of growth AugusYs gain means that the forecast remains for
associated with prior recoveries. The forecast for positive growth in the local economy in the year ahead.
inflation remains unchanged as inflation in excess of However, the gain was relatively small as only three of
2% in 2014 and 2015 is projected. Unemployment is the six components of the index increased. An area of
projected to decline to 6.5% by the end of 2015. concern was that the two employment components of
Interest rates are projected to rise as the Federal the index were down signaling a slowdown in job growth.
Reserve ramps down the Quantitative Easing Program. For the first time since December 2010, both labor
The program is intended to lower interest rates and market variables were negative. Initial claims fo
spur economic growth. unemployment insurance, were up for the fourtt�
consecutive month and help wanted advertising turned
The California Forecast2 - In the California forecast, down after having rising for nine months in a row. The
Senior Economist Jerry Nickelsburg's report "Where local unemployment rate still decreased to 7.4%.
are the Jobs California?" examines the employment Building permits also decreased after being up sharply in
trends underlying the structural changes that will define July.
the state's future economy. According to Nickelsburg, San Diego Index of Leading Economic Indicators
California will continue to lead in the economic San Diego County, 2009 -2013
recovery as it outperforms the rest of the nation.
However, Nickelsburg offers a geographical analysis 130
that paints a bifurcated picture of the employment
situations faced in California's counties. He describes izs
the continuing trend where the coastal counties that
benefit from investment, technology and trade will izo
continue to outperform the inland counties that are
driven by migration, construction and government. lls
Nickelsburg supports his theme by comparing
employment rates in the Bay Area, Ventura, Orange llo
and San Diego Counties that have outpertormed the los
U.S. employment growth rate. On the other hand,
employment in the Sacramento Delta, San Joaquin ioo
Valley and Inland Empire counties is still below their � o o ° ° �^ �
previous peak levels. He still believes that as the world o � o � Q _ _ z Q N LL �
economy improves, and as investment in the U.S.
improves, California will once again have a
3Source: University of San Diego School of Busines
'Source: UCLA Anderson Forecast, September 2013 Administration, USD Index of Leading Economic
ZSource: UCLA Anderson Forecast, September 2013 Indicators, September 2013; retrieved from URL:
http://homesand ieqo.eduhaqin/usdieilindex.html
5-10
QUARTERLY FINANCIAL REPORT
FISCAL YEAR 2014: FIRST QUARTER
Page 2 of 6
GENERAL FUND SUMMARY flexibility to address some of its critical needs. These
critical needs are predominately in the area of deferred
Generel Fund Reserves - The General Fund Reserve maintenance projects at major City facilities, that have
policy was established to ensure that the City's been deferred due to lack of available funding in
finances are managed in a manner which will: previous budgets. Specific prioritization and
1. Continue to provide for the delivery of quality recommendations regarding these projects will be
services brought to the City Council in a separate report.
2. Maintain and enhance service delivery as the
community grows in accordance with the General Staff is recommending the appropriation of 5415,000 of
Plan the projected discretionary revenue increase to fund
3. Minimize or eiiminate the need to raise taxes and increases in: the Development Services Department
fees because of temporary revenue shortfalls subsidy, the property damage insurance premium and to
4. Establish the reserves necessary to meet known �educe the salary savings liability in the City's Central
and unknown future obligations and ability to General Fund.
respond to unexpected opportunities.
Although City revenues are experiencing modest
The following table reflects the audited General Fund improvement in revenue growth, there are some areas
reserves as of June 30, 2013 as well as the projected concerning City expenditures that staff will continue to
General Fund reserves for June 30, 2014. monitor throughout the fiscal year. These include
projected increased utility costs for water and electricity,
;.�t� 3 _ ��+ � �� „ ��. fire overtime costs, and supplies and services costs in
1 t� •�� the City's Garage operations.
Reserves -July 'I,2013(unaudited) 514.3 $'14.3
Revenues &Transfers In 5127.8 5'128.5 Revenues
E�enditures BTransfers Out �siz�.s� �si2�.e) The following table compares the projected revenues
'endin9 P.ppropriations (Critical Needs) �so.s� included in the adopted budget and the updated revenue
projections for discretionary and departmental program
Projected'Surplus/Deficit so.o so.a �evenues. The projections indicate some variances in
Projected Fund Balance for discretionary revenues when compared to budget but in
June 30,20�4 S'I4.3 sia.� total, revenues are expected to slightly exceed budgeted
_ Percentage of Operating Budget ��,Zo�a �� So�a levels by a net S0.7 million. This increase consists of a
S1.2 million projected increase in discretionary revenues
that are offset by a 50.5 miliion projected decrease in
Noces: revenue from other agencies that will not be realized by
7. The Amended Budget and projections reflected in this table do the Police Department. Variances in discretionary
not include prior year appropriations for capital improvement revenues include the following changes:
projects and other encumbrances ihat were carried forward into
the fiscal year 2013/14 budget. These expenditure impacts are
already reflected in the estimated fund balance as of July 7, A f12i increase Of S0.6 fTlllll0� Ifl P�O eft TeX
2013 and are therefore not inUuded in the above table. ' P Y
revenue reflecting the impact of a 3.4% increase in
2. Pending appropriations are for City identified c�tiwl needs city-wide assessed property valuations.
costs.
• A 50.3 million increase in projected motor vehicle
The City's financial outlook appears stable and license fee revenues reflecting the impact of a 3.4%
modestly improved at the end of the first quarter as increase in city-wide assessed property valuations.
projected revenues for fiscal year 2013-14 are trending
slightly higher based on tepidly improved economic • A 50.2 million increase in franchise fee revenues
conditions. Based on activity through the end of the reflecting prior fiscai year actual franchise fee
first quarter, the General Fund is projected to end the revenues.
fiscal year with a positive balance of 50.4 million. This s�0.1 million increases Transient Occupancy adjusted
is based on a projected increase of S1.2 million in � to reflect prior year actual revenues.
general fund discretionary revenues. This increase is
partially offset by a 50.5 million projected decrease in . A decrease of 50.5 million in Revenue from Other
2rogram revenues resulting in a projected net revenue Agencies that will not be earned by the Police
gain of S0.7 million. The projected increase in General Department as result of decreased participation in
Fund discretionary revenues affords the City the grant reimbursed task force activities. The
5-11
QUARTERLY FINANCIAL REPORT
FISCAL YEAR 2014: FIRST QUARTER
Page 3 of 6
decreased participation levels are due to the Sales Tax
reassignment of current staff to duties performed
by vacant positions. This revenue shortfall is 53s.o
projected to be offset from salary savings that are S�9
Sao.o $26.7
generated from vacant positions within the Police „r ; -
Department. These salary savings will decrease as Szs.o - ��„� "`�� _�
the fiscal year progresses and vacant positions are '�: ;� '�
filled. o Szo,o
' °;i;,
General Fund Revenues � s�so
�`:�� �� 'y s r, �� ;� �.,�,. �,s ,: '� sio.o ' F �?�
�6�s' A,* =�g �. r . r `r�.dv �� ; .�" .,. „
.�
� �S • 1 • • �C.��.'�o. F .a�z .
p;IT:� ' � � �.� �� � ��- � ..�.._. �3 �' 55.0 .�,Y �- z.
Property Taxes , S 25,952,576 S 26,609,623 5 657,047 So.o } �
SalesTax $ 22,579,885 S 22,109,947 $ (469,938) Fvioncmai Fvvanuai vvuacmai �visaccuai FY14Projetted
Sales Tax In Lieu 5 7,274,800 5 7,744,738 $ 469,938
�vlotorvehicie�icense 5 �s,aa7,s7o 5 16,781,019 S 293,149 Property Taxes - The City of Chula Vista receives
property tax revenue based upon a 1.0% levy on the
aher Revenue 5 iz,sas,a�2 5 iz,sn,su s (zs,ss�) assessed value of all real property. Property tax is the
rransfers in 5 io,io2,ss5 5 io,io2,sss 5 - City's second largest revenue source, representing
Franchise S 8,a72,s5o 5 s,�is,iss S 2as,3as 20.3% of General Fund revenues in the fiscal year
Charges for Services 5 7,612,879 5 7,613,769 S 890 2012/13 BdOpted budget.
RevenuefromOtheragencie 5 3,ss2,o5� 5 3,aas,oas 5 (5�2,ss5) property tax projections reflect a net increase of $0.6
utiiny users rax S 3,si2,o2s � 3,si2,o2s 5 - million when compared to budget. Projected Property tax
Transient acupancy raxes S z,3ss,00s 5 2,468,950 S 103,945 revenues have been increased to reflect the impact of,
use of rvbney&aoperty S 2,2si,sao 5 2,255,so7 S (25,�33) 3.4°/o increase in city-wide assessed property valuations.
OtherLocalTazes 5 1,335,889 5 1,335,889 5 - Property tax revenue growth was.assumed at 2% in the
�icenses and�rrrits 5 �,3os,aa� 5 1,313,247 5 3,soo adopted fiscal year 2013/4 budget based on the initial
Fines,Forfeimres,�nanies 5 i,iio,soo 5 i,osz,o23 5 ��8,�»� County Assessor's estimate for assessed value growth.
aeal aoperry rransier 7ax 5 a00,aa2 S SOo,a82 S - The following chart represents actual property tax
Total General Fund 5�2�,ao�,s3� S�2s,s2s,sas 8 ��e,oaa revenues since fiscal year 2008/09 and the projection for
fiscal year 2013/14.
Sales Tax (Sales Tax and Sales Tax in lieu) - Sales Property Tax
tax is projected to be the City's largest revenue source, Sss.o
representing 23.2% of General Fund revenues in the $30.0
fiscal year 2013/14 amended budget. Sales tax is SZS.� S�a.i Szas
improving modestly as HdL Companies, the City's Szs.o � y_�s. ,
sales tax consultant, recently reported data for the Szo.o � s�
' �r ,
second quarter of calendar year 2013. They report that � Sis.o ,; ^ '
the change in sales tax receipts between second ° ' - i�'
quarter calendar year 2013 and second quarter � Sio.o p ; : ��
calendar year 2012 increased by 7.0% Statewide, by ss.o '�' ar�, 4� ;�r �
3.9% in San Diego County and Q�% in Chula Vista. So.o � �" ' '""
FYlOACNai FYSSACtual FY32ACNal 'FY33Attual FY14
Projections for sales tax and sales tax in-lieu for the r�o�e�c�d
current fiscal year indicate that sales tax is tracking at •FVi3P��rtvra.��i�ae:a�,e��m�Pa�e�t�eiareacome
fh2 bUd90tB(� �BV2�S. eliminationof theCty'sRedevelopmentAgenry
The following chart represents actual sales tax Motor Vehicle License Fee (VLF) — With the StatP
collections since fiscal year 2009/10 and the projection gudget Act of 2004, the allocation of VLF revenues t�
for fiscal year 2013/�4. cities and counties was substantially changed. Since
2005/06 the majority of VLF revenues for each city grew
5-12
QUARTERLY FINANCIAL REPORT
FISCAL YEAR 2014: FIRST QUARTER
Page 4 of 6
essentially in proportion to the growth in the change in revenues reflect previously accrued Franchise Fee
gross assessed valuation. Due to the new formula by revenues that were realized by the City.
the State, 96% of the City's VLF revenues fluctuated
with changes in assessed values in the City. Frenchise Fees
The other 4% of VLF revenues received by the City Siz.o
were based on a per capita formula but has since been 59.6
shifted per S689. Provisions in S689 shifted hundreds Sio.a , sfi�
585 SB3 S8.< 'x
of millions of Vehicle License Fee revenues to fund the Ss.o =�' '
state law enforcement grants. Statewide, SB89 took � -
S130 million of city general revenue and shifted it to = Sb.o a °
save state law enforcement grant programs. This g -� � �
change applied to the 4% of VLF revenues that were g4.0 � � =� 3:
based on a percapita formula. The City of Chula Vista �<-
lost approximately 5700,000 annually due to the State Sz.o ='� `� > �
take away. "
so.o '�` .
VLF revenue projections have been revised to reflect FY10ACtual FY13Ar.ual FY32ACmal FY13 Actual �via
the impact of the 3.4% increase in city-wide assessed Pro)x«d
valuation projected for fiscal year 2013-14. The
following chart represents actual VLF revenues since Transient Occupancy Tax (TOT) - The City receives
fiscal year 2009/10 and the projection for fiscal year 10% of hotel and motel room rates for stays less than 30
2013/14. days. Projections for TOT revenues have been updated
Motor Vehicle License Fee to reflect the positive trend that began in fiscal year
2012. Updated projections indicate that these revenues
Siao $17�7 _ __ _ _ ���� will continue to track at modestly increasing rate in fiscat
i� year 2013-14, continuing the previous fiscal year trend.
Sis.o :�y s, �. ,� The foltowing chart represents actual TOT revenues
Sia.o `�' :� "� ,;�. since fscal year 2009/10 and the projection for fiscal
� siz.o '� "•'= � - year 2013l14.
o ."� �.s.., _
_' Sio.o ` i t Transient Occupancy Tax(TOT)
- � 5s.o •# =� ti� ,�
Se.o �` � -:r. �- � S3.o
Sa.O '' ., �}:
,;;� .; � 52.5 I s�3 52.5 52.5
$2.0 iT_= .-� 4.r - �[. s
$0.0 . , $20 52.1 .
. _ �, {:
FY10ACmal FY13ACmal FY71ACtuzl FY13ACNal FY34 SZ'� I r- .' - �._
_ Projxted _° $1.5 e: Q_ ,.� ..:r ��:
Frenchise Fees - Franchise fee revenues are � I �f
Si.o I +- `v
generated from public utility sources such as San ; .
Diego Gas & Electric (2% on gas and �.25% on So.s ° �� $,;
electricity), trash collection franchises (9.05% fee), and I � .� ,�- `�
cable franchises (5°/a fee) conducting business within So.o .
City limits. The Utilities collect the franchise fee from �ioa�mai FY11ACival �run�mai FY13Attual �ria
Chula Vista customers and remit these revenues to the PfOJ�`t�
City.
Utility Users Tax (UUT) - The City adopted its Utility
Projections for Franchise Fee revenues have been Users Tax (UUT) in 1970. The City of Chula Vsta
updated to reflect increased actual prior fiscal year imposes a UUT on the use of telecom at the rate of 5%
Franchise fee revenues. of gross receipts. The UUT on natural gas services is
50.00919 per therm and S0.00250 per kilowatt on
The following chart represents actual franchise fee electricity services, which equates to approximately a
revenues since fiscal year 2009/10 and the projection 1% tax. Current projections for UUT revenues indicate
for fiscal year 2013/14. Fiscal year actual 2012-13 these revenues are tracking at budget. The following
5-13
QUARTERLY FINANCIAL REPORT
FISCAL YEAR 2014: FIRST QUARTER
Page 5 of 6
chart reflects actual UUT revenue since fiscal year salary savings liability in the City's General Fund. Thes,
2009/10. Fiscal year 2013/14 is projected and does items will be funded from projected discretionary
not reflect actual collections. revenue increases.
Utility Users Tax (UUT)
As also previously noted, there are some areas of
concern on the expenditure side that staff will continue to
$io.o monitor. These include: projected increased utility costs
*?. for water and electricity, fire overtime and supplies and
$$� 5� services costs in the City's Garage operations. Staff will
z,,. continue to monitor these areas and reWrn with specifc
o Sb.o 4 y �4 recommendations to remedy cost overruns if needed.
� Sa.a �?
� .x 5 µ General Fund Expenditures as of 9/30/2014
$Z.o �' r
r .
}F _ _ � .. � �� _,__
$0.0 . . �' ." � .� I .
FYlOActual FY13AcNal FY12AcNal FY13AcNal' F1'14 �� '' `.�• ' � ^a�r� '�.'. � ,� ,
Projected City Council $ 1,244,068 5 264,079 21°/
. _ ________.. __. . _ _ _ _ . _.__ .__.___
Boards&Corcrrvssions 5 10,076 5 4,500 45°/
`Increased fscal year 2013-74 Utility User's tax revenue reflects a City Clerk 5 921,023 5 161,962 78%
mid-year appropriation (Council resolution 2073-092) o( previously -- - � � - - . .. _ . .... _____
collected wireless telecommunication related tax revenue that was Gty Attorney $ 2,504,783 $ 578,008 21%
utilized to fund attorney and City administrative costs pertaining to a Adrrinistration 5 2,570,038 5 552,463 21%
City class-action lawsuit. _.. .. _. . . .. .. . .___..._.....
Information Tech Srvcs $ 2,964,734� 5 771,666 26°/
.....__ ._ ...._..... .. . ...._._... ..._._ ... _ . . ....._._. _ ._,.._
Expenditures H���Reso�«es s z,ios,sii S 463,455 zz�io
__.. . ____... __ _ . _... ._ . . . . . . ... ._........
Finance $ 3,630,781 5 838,097 23°/
___........_. ._. _ ... .._. .___. .. ...._.... _ _......_.. ...._
The General Fund's Amended Budget reflects the Non-oepartmentai $ 9,746,649 $ 7,394,685 ia�io
Council adopted budget of $127.8 million mid-year - - - - - - - - - - - - -
appropriations of $51,501 approved by City Council �eneraiserv�ces 5 2,saa,az5 5 560187 zzio
_ _ __.. . __......_ _---__
and $4.1 million of prior year encumbrances that were oev serv�ces(�� $ 2 368,314 � s2�sss z2/o
_ . _.... _._ __ .__ ...
carried over into the current fiscal year. The following wsce 5 as,3at,ass 5 9,659,049 zt i
table reflects the General Fund amended budget and " - ' '-
F�re § 24,042,935 S 5,554 992 23%
actual expenditures by department as of September - - - -
30, 2013. In total, Departments have expended 21% of �brc works 5 2a,sos;aes s 5,isa,asa z�i
the General Fund budget after 25% of the fiscal year Recreation s s,s�z,�ea 5 793,142 zoi,
has elapsed. �ibrary $ 3,ss�,o2a S �aa,sis 22�io
Total Expenditures $ 131,924,296 $ 27,998,069 21%
Based on the first three months of actual expenditures
there are no major variances to report in expenditures
as most City Departments are projected to be within
budgeted levels with the exception of the Police
Department and Non-Departmental. As discussed in
the revenue section of this report, the Police
department is projecting a $0.5 million short fall in
revenue from other agencies as result of decreased
grant funded taskforce activity that is due to the
reassignment of current staff to duties performed by
positions that were vacant. This revenue short-fall is
projected to be offset by salary savings. The Non-
Departmental budget includes additional projected
expenditures of �0.4 million to fund increases for: the
Development Services Department subsidy, the
property damage insurance premium and to reduce the
5-14
QUARTERLY FINANCIAL REPORT
FISCAL YEAR 2014: FIRST QUARTER
Page 6 of 6
General Fund Expenditure Projections by Department Mid-Yeaf Budget Amendments
for June 30, 2014
-��;�x ,� _ • � ,� � =T�, Mid-year appropriations approved through September
.� � �„ ,,�.; , 30, 2013 totaled S51,505 with offsetting revenues of
,,,�_� = ' - � s S56,605 resulting in a positive net impact of 55,004.
Cdy CouncB 5 7,244,068 S 1,244,068 S -
Boards&Cortrrissions s io,o�a s io,o�a s _ The City Council approved the following budget �
----- amendments during through the first quarter:
Gry CJerk ���� 5 921.023 S 921p23 S -
Cdy Atlorney s z,soa,�as s 2,soa,�ss s . _- Summary of General Fund Budget Amendments
Adrtinis[ratbn S 2570,038 5 2,570,038 S - A
".__ —___ . _ _._ ._ . __.__._' _."—_ __..__.._...— 4.RT43.�1��;:�. 1�- �i� 1 • �i�.-. , _ � .. .
r� �y _. , . . � �. � ���: . �..
triformat�on Tech Srvcs S 2 964,734 S 2,964,734 S � �-- � -�
- -- � � 719/2073 EB hd=morial G2nt(POlice) � S - S (6,057) S (5,OSi)
I-himanResources S 2,105,977 S 2,t05,971 5 - EBMemonalG2nt(NOn
Fc�ance S 3,630,787 5 3,630,781 5__ iI9/2013 Deparhnental) 5 - 5 6,05i I S 6,057
Non-Departrtental S 9,746,649 S 10,161,649 S 415,000 SdarFinarkingPmject (Non-
-- --'---.—... --�—�--- -���—��--- —��------- 7123/2013 Departrnental) - _ S - S i0.9301 5 50.530
AnQnalCareFaciffty S 2,544,425 5 2,544,425 S -
�� - -� Sdar Financing Project
�v Services(GF� S 2,368,374 5 2,368,314 S - i123/2013(Pubiic Works) 5 - 5 (ta,450)I 5 (44,450)
PoGce S 45,381,856 5 44,851,046 S (530,810) SdzrFinancingPmjecf
Fve 5 24,042,935 5 2a,042,935� 5 - i/23/2073(Recreation) S - I S (6,45G) 5 (6,480)
FLbfic Vvoric� S 2a,609,485� 5 2a.609,a85 5 _- 216/2073 600k Donation(Library) S 1,500 S 1,5� S -
Recreation 5 3,972,'I9a S 3,912_194 5_ . _ Salzry Adj.Mid.Mgrs.IPmf.
L�brary � 5 3,367,024 5 3,367,024 S - B�612013 Narious) $ - S �48�OB 5 -
Total Fxpenditures S 137,924,296 5131,808,486 S (715,810) Salary Adj.Mid.Mgrs.IPmi.
816I2013(NOn-0epartrnenial) S (�48,9'v7)
HarboAzst 2013(NOr�
Budget Transfers 8I7312013 DeFartmertal) s so,000 s so,000 s -
SDLECC Support Admin Fee
The following table reflects the administrative budget BI1312013(Pdice) S 5,005 s (5,00s)
transfers that have been approved through the first Salary Adj.CVEANJCEM
quartec eno�zois(various� 5 553,629 S 553,629
� Salary Adj.CVENWCE(Non-
Summa of General Fund Bud et Transfers 9��012073 Departrnental) S (Si3,629) 5 (553,629)
�Y 9 � � - -� � � ,
� ��v # '�+ g .=+� . � �' `� �� -: '. �T ir4,r= �.��T hlAppropria4on5toidate; 5}56,505_�I:�Sj,� 51'S01t''.i�(5�004)
� ��-�' ?& �..�a�v ._�± — _ _
T-arss�;r ia r�.nd d ow.r S.ipo6�8 S�nices ic
,k�-13 payment NunaA Rasaaces 5 34 0'Jxr Ez�ns=s .
Tans(zr;x fold.m mac�dne Supplis 8 SK�ices to
S�73axchzs= F��ice S 2,6i5 C�itzl
Suppli=_s 8 Sere,ces ic
g�_73 Trarnf�F:,rz J4�h_h.'d9et CiiY Cascil S 500 Pdsor.�r_I S:sdces
A?ua;i:s Sx�sy Alzrr Persar�el SeMCes to �
5�13 Repa� R[t2'c110fi : C,%W S'.�E?5�S°JMCES
Tzsm`�ar irE�r, ?esxr�l Senices to
S>_p73 reunh�:mzN City Cascil 5 2,250 S.�plie;8 S�ices
5-15
RESOLUTION NO. 2013-
RESOLUTION OF THE CITY COUNCIL OP THE CITY OF
CHULA VISTA D4AKING VARIOUS AMEI�TDMEI�'TS TO THE
FISCAL YEAR 2013/14 BUDGET TO ADJUST FOR
VARIANCES AI�TD APPROPRIATING FUNDS TH�REFOR
WHEREAS, the City Charter states that at any meeting afrer 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
R�HEREAS, staff is recommending various transfers bet���een expense categories in order
to better align the budget witl� actual revenues and expenditures; and
WHEREAS; the recommended appropriations in the General Fund reflect a net increase in
expenditures of $495,541 that are revenue offset which results in no net impact to the General
Fund; and
WHEREAS, the recommended appropriations to other funds reflect an increase in .
expenditures of$111,201 that are partially offset by reve�mes of$19,999; and
NOW; TH�REFORE, BE IT RESOLVED that the City Council of the City of Chula Vista
does hereby amend the fiscal year 2013/14 budget and approve the following appropriations:
. . . . . . � : : � a • . • • . • p �. � .
},..'... .:.. ' o
. wp
� i Iu � . ,.. r �'i$.3tJ - � . . ,.. .'.� . ; .
. .. . . . ' . :.. . . .: .., � '.e .. ' .
. z . .
GENERALFUND:
_______-'_'_'________________._________..__.__._._____ _.__________.__..___.._.... .__.._.'.................'____'__._... .____..__'__..___._'_'.._.._
Non-Departmental 5 200,000 5_ 65,000 $ - 5 9,889 5 150,000 5 424,889 S 424,889 5 -
.._ _ __..' ___' . _ ._- . _..__ ___. .__ . ..____._ '-.-_.._ - ___..__. __.'_---
AnimalCareFaalrty _ _ 5 51,000 5 ll,000 $ . __..,,._ , $,,.,.,..., ,$,_.._„__ __._ ,$_, 68,000 ,5._ 68,000 $ __
'._._ __ . _. . .. . ___
Public Works ._._.._ 5 3,570 _ _._....__ 5 .____' S _.... S__._.._ . _5._._3,570. _5__..-__. $_ 3,570
____ _ __
Libra S - 5 (918 5 - 5 - $ - $ (918) $ 2,652 5 (3,570)
TOTALGENERALFUND __ $ 754_570 $ 81,OS2 _$__,_-__ _$_9,889 _$ 150,000 $ 495,541 $ 495,541 $_ -
OTHER FUNDS:
_„_' _ _ _ _.._ ____. __ _ ____ _._.. .___ . __.._.... _' ' -'_,..______.
Transp Sales Tax Fund _ $ 5 - 5 - $ 75,000 $
.. ._ . . . ..... . . .$....75000 $. 19,999 $ 55,001
_. . ._ . .. ... . _._ ... . .._. ..-_____._
CA Dept of Educ Section 321 5 - 5 ,_._, S - 5 - 5 2,352 5 2,352 5 $ 2,352
- ..___ . _.._ -.,..__ .__. . __ . .___� . . _._.___'._�___
OtherGrantsFund .. $ - 5 - $ 13,850 5 - $ 13,850 5 - 5 13,850
. .___ . _. ._. ..._.. ._._.._ .._. __.... ..._.._.._. .._. ._.. .__.__�_ _._._____--
Amer Recove &Reinvest Act 5 5 $. . ._ - _ .$.._(9,889),_$,___.9 889 5 - 5 - 5 -
.____ �l' _. .. __ __.- ._ _ ___ .. _ _ . _ _ .__ ..._.___."__.. .__... __.___.-_.____..
OtherTrans ortation Pro rams 5 - 5 - $ - 5 - 5 19,999 $ 19,999 5 5 19,999
TOTAL OTHER FUNDS _ $__ ___ _$ ___.__ _$_ 13,850 $_ 65,111 $ 32,240, $_ 111,201 _$__ 19,999 ,$ 91,202
TOTA.L,BUDGET;AMENDMENTS ?:�S'-254,570_� S �-81.082�!$S 13:850 , $j�Z5.000: S 182.200' S �6;742r„5�515:540[t�S .� 1.202
J:Witomey\FINAL RESOS AIJD ORDII�ANCES�2013U 1 OS 13\Q7 PY 14 I�inancial Report Resolution.docx
10/30/2013 ]0:09 M4
5-16
Resolution No.
Paee 2
Presented bti� App ved as fo by
�
/ 2,�i u- 1 iA�.i**59
n4aria Kachadoorian Glen R. Gooeins
Director of Financellreasurer Citv Attomev
J:l4aome}•�FAAL RESOS?.ND ORDI\.4NCESL013\I I OS 13\QI F]' 14 Financial Repon Resolution.docx
10/30/2013 10:09.M1
5-17
I