HomeMy WebLinkAboutReso 10-2006
RESOLUTION NO. 10-2006
CITY COUNCIL, CITY OF SOUTH SAN FRANCISCO, STATE OF CALIFORNIA
A RESOLUT'I()N AMENDING T'I-IE 2005-06 GENERAL
FlJND ()PERAT'ING BlJDC;E,:r T'() INCREASE
GENERAL FUND REVENlJES BY A T'OTAL ()F
$1,812,406 AND TO DECREASE GENERAL FUND
EXPENDITURES BY $50,000.
WHEREAS, it is reconlnlended that the City Council review the 2005-06 2nd Quarter
Financial Report and approve the 2nd Qumier 2005-06 General Fund Operating Budget A1llendnlent
Changes included as "Attaclunent B" hereto, and shown in the "Variance" column of that
attaclullent.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of South San
Francisco that the City Council hereby amends the 2005-06 General Fund Operating Budget to
increase General Fund Revenues by a total of $1,812,406, and to decrease General Fund
Expenditures by $50,000.
*
*
*
*
*
I hereby celiify that the foregoing Resolution was regularly introduced and adopted by the
City Council of the City of South San Francisco at a Special Ineeting held on the 15th day
of February , 2006 by the following vote:
AYES:
Councilmelnbers Mark N. Addiego, Pedro Gonzalez and I(aryl Matsullloto,
Vice Mayor Richard A. Garbarino and Mayor Joseph A. Femekes
NOES:
ABSTAIN:
ABSENT:
ATTEST:
805999-1
Attachment B
Midyear General Fund Budget Review,
2005-06
4
Attachment C
Total General Fund Operating and Capital Budget,
& Projected Changes to General Fund Reserves
Midyear 2005-06 Projection
Net Operating Budget Impact (from Table I)
Adopted Amended Projected
Year End Budget Budget Budget
2004-05 2005-06 2005-06 2005-06
803,432 (335,750) 815,917 2,678,323
(338,493) (82,000) (803,330) (803,330)
(136,154) (130,000) (130,000) (130,000)
$ 328,785 $ (547,750) $ (117,413) $ 1,744,993
Less Transfers to Capital Projects:
Less Transfers to Debt Service
Net Impact on General Fund Reserves
IGeneral Fund Reserves Projection
I. Discretionary Reserves!
Liquid Reserves Available
Emergencies
1,100,000
1,100,000
1,100,000
1,100,000
Economic Contingencies
3,500,000
3,800,000
3,800,000
3,840,000
Designated for future Economic Development and Capita
Projects
3,600,000
3,600,000
3,600,000
4,620,000
Undesignated Reserve
4,128,893
3,896,673
3,663,863
5,179,416
II. Non-Discretionary Reserves!
Reserves Already Committed
Encumbrances
381,400
371,816
Advances to Other Funds
Inventory and Other
40,300
90,000
90,000
40,000
Appropriated Capital Projects
283,830
291,330
Total General Fund Reserves
$ 13,034,423 $ 12,486,673 $ 12,917,009 $ 14,779,416
5
ENTERPRISE FUNDS, 2005-06
Midyear Review
Sewer Rental Fund
Summary of Revenues, Expenditures, and Changes in Fund Balance
Actual Actual Adopted Amended YTD Actual Projected
2003-04 2004-05 2005-06 2005-06 12/31/05 2005-06
REVENUES
Operations:
Charges for Services 8,820,583 10,784,174 11,400,000 11,400,000 5,851,130 11,450,000
Other Cities 3,523,976 3,544,816 6,034,000 6,034,000 3,474,732 6,034,000
Connection Fees and Other 1,415,813 558,411 413,000 413,000 1 33,494 267,000
Loan and Bond Financing 10,458,766 11,531,727 3,000,000 8,098,673 6,133,955 12,133,955
Developer Fees 166,027 334,907 165,000 2,965,000 1,640,591 2,965,000
Interest/Other income 47,842 61,427 56,000 56,000 59,474 60,000
Total Revenues 24,433,007 26,815,462 21,068,000 28,966,673 17,293,376 32,909,955
EXPENDITURES
Operating Expenses 9,300,375 13,047,176 11,328,278 11,409,390 5,164,670 10,485,000
Debt Service 3,885,000 3,883,850 4,371,815 4,398,015 3,873,310 . 4,398,015
Capital Expenditures 11,495,000 16,933,752 4,180,000 15,486,997 3,822,609 15,486,997 (1 )
Net Changes to Balance Sheet, Yr. End (562,811 )
Total Expenditures 24,680,375 33,301,968 19,880,093 31,294,402 12,860,589 30,370,012
Net Income (247,368) (6,486,506) 1,187,907 (2,327,729) 4,432,787 2,539,943
Total Fund Balance 3,985,628 (2,500,878) 39,065
Emergency Capital Repairs Reserve 410,000 500,000 750,000
Undesignated Fund Equity * 3,575,628 (3,000,878) (710,935)
* Net of fixed assets
1. Capital Expenditures are primarily the muhi-year Wet Weather program
The Sewer Rental Fund consists of the Water Quality Control Plant Division, the Sewer Maintenance
Division, and planned Sewer capital project expenses
6
ENTERPRISE FUNDS, 2005-06
Midyear Review
Storm Water Fund
Summary of Revenues, Expenditures, and Changes in Fund Balance
Actual Actual Adopted Amended YTD Actual Projected
2003-04 2004-05 2005-06 2005-06 12/31/2005 2005-06
REVENUES
Operations:
Service Charges 405,578 401 ,484 460,000 460,000 207,706 414,000
Interest and Other 2,485 11 ,638 15,000 15,000 5,283 10,000
Total Revenues 408,063 413,122 475,000 475,000 212,989 424,000
EXPENDITURES
Operating Expenses
Transfers Out to Capital Impr Fund
Net Balance Sheet Adj.
396,838 565,827 738,998 738,998
125,000
(6,944)
396,838 558,883 738,998 863,998
11 ,225 (145,761 )
597,941 452,180
326,666
600,000
125,000
Total Expenditures
326,666
725,000
Net Income
(301,000)
Undesignated Fund Equity *
151,180
* (Net of Fixed Assets)
7
ENTERPRISE FUNDS, 2005-06
Midyear Review
Parking District Fund
Summary of Revenues, Expenditures, and Changes in Fund Balance
Actual Actual Adopted Amended YTD Actual Projected
2003-04 2004-05 2005-06 2005-06 12/31/2005 2005-06
REVENUES
Operations:
Parking Fees 312,875 401,081 350,000 350,000 219,675 400,000
Interest and Other 4,899 21,203 30,000 30,000 10,617 21,000
Total Revenues 422,284 380,000 380,000 230,292 421,000
EXPENDITURES
Net Income
214,152 229,087 298,230 298,230 141,618
75,000 75,000
300,000 119,970
585,714
289,152 889,801 298,230 598,230 261,587
28,622 (467,517)
1,157,744 690,227
298,230
Operating Expenses
Transfers Out
Capital Outlay (1)
Net Balance Sheet Adj
300,000
Total Expenditures
598,230
(177,230)
Undesignated Fund Equity *
512,997
(1) Land acquisition for parking lot
* Net of Fixed Assets
8
REDEVELOPMENT AGENCY, 2005-06
Mid-Year Review
GATEWAY PROJECT AREA
Summary of Revenues, Expenditures, and Changes in Fund Balance
Actual Adopted Amended Actual 05/06 Projected
2004-05 2005-06 2005-06 Thru Dec 2005-06
REVE;NUES
Gross Tax Increment 5,591,297 5,568,000 5,568,000 2,776,178 5,304,489
Interest 132,804 132,000 132,000 19,461 132,000
Other Taxes (14,218) (14,218)
Total Revenues 5,724,101 5,700,000 5,700,000 2,781,421 5,422,271
EXPENDITURES
Program Expenditures
Transfers Out - Debt Service
Transfers Out - Low Mod Housing
Transfers Out - Capital Projects (1)
Transfers Out - Equipment
Pass Through Agreements
125,000 125,000 125,000 140,280 170,000
2,207,743 . 2,244,348 2,244,348 1,607,663 2,244,348
1,214,891 1,113,600 1,113,600 555,236 1,175,282
3,595,488 518,502 260,994 518,502
8,750 8,750
36,000 36,000 36,000
7, 143,121 3,518,948 4,046,200 2,564,173 4,152,881
Total Expenditures
Excess of Revenues
over (unde0 Expendijures
(1,419,020) 2,181,052
1,653,800
217,248
1,269,390
Fund Balance, Beginning of Year
17,319,241
15,900,221
Fund Balance, End of Year
15,900,221
17,169,611
Bond Funds, End of Year
837,011
Mandated Bond Retirement Account
17,967,688
19,237,078
Notes:
(1) Capital Projects:
05/06 budgeted capital projects
Train Station
US 101 Flyover/ Hook Ramps
Total
67,755
450,747
518,502
9
REDEVELOPMENT AGENCY, 2005-06
Mid-Year Review
DOWNTOWN I CENTRAL PROJECT AREA
Summary of Revenues, Expenditures, and Changes in Fund Balance
Actual Adopted Amended Actual 05/06 Projected
2004-05 2005-06 2005-06 Thru Dec 2005-06
REVENUES
Gross Tax Increment 6,909,450 7,337,000 7,337,000 6,025,180 8,330,255
Interest 317,819 238,000 238,000 249,109 350,000
Rent 211,806 200,000 200,000 82,644 200,000
Total Revenues 7,439,075 7,775,000 7,775,000 6,356,933 8,880,255
EXPENDITURES
Program Expenditures 1 ,114,456 2,262,196 2,336,507 645,173 1,800,000
Transfers Out - Debt Service 1,238,778 1,350,419 1,350,419 683,099 1,268,771
Transfers Out - Low Mod Housing 1,505,291 1 ,467,400 1 ,467,400 1,235,290 1,847,526
Transfers Out - Capital Projects (1) 503,377 525,000 8,747,545 968,186 8,222,545
Pass Through Agreements 375,668 1,500,000 1,500,000 2,273,984
Transfers Out - General Fund 418,000
Transfers Out - Equipment 8,750 8,750
Total Expenditures 5,155,570 7,105,015 15,410,621 3,531,747 15,421,576
Excess of Revenues
over (unde0 Expend~ures 2,283,505 669,985 (7,635,621 ) (6,541,321)
Fund Balance, Beginning of Year 12,965,714 15,249,219
Fund Balance, End of Year 15,249,219 8,707,898
Bond Funds, End of Year 1,390,295
Advances To Other Funds
Loans Receivable 548,223 585,000
All Other Reserved Funds 6,362,180 1 ,592,598
Unreserved / Undesignated
Fund Balance, End of Year 6,948,521 6,530,300
Note:
(1) Capital Projects:
New Central Fire Station
City Building Improvements
Harbor Way Improvements
Site Remediation at 27 South Linden Ave
Sidewalk Replacement
Misc. Land Acquisition
Bay Trail Improvements
Total
05/06 budgeted capital projects
4,400,544
537,500
700,267
41,234
25,000
2,500,000
18,000
8,222,545
10
REDEVELOPMENT AGENCY, 2005-06
Mid-Year Review
SHEARWATER PROJECT AREA
Summary of Revenues, Expenditures, and Changes in Fund Balance
Actual Adopted Amended Actual 05/06 Projected
2004-05 2005-06 2005-06 Thru Dec 2005-06
REVENUES
Gross Tax Increment 2,785,038 2,736,000 2,736,000 1,587,971 2,801,645
Interest 78,829 58,000 58,000 29,672 58,000
Total Revenues 2,863,867 2,794,000 2,794,000 1,617,643 2,859,645
EXPENDITURES
Program Expenditures 470,428 285,462 285,462 134,153 285,462
Transfers Out - Low Mod Housing 602,492 547,200 547,200 317,594 615,787
Transfers Out - Capital Projects (1) 150,000 150,000
Pass Through Agreements 777,000 777,000 806,148
Transfers Out - Equipment 8,750 8,750
Total Expenditures 1,072,920 1,609,662 1,768,412 451 1,857,397
Excess of Revenues
over (under) Expenditures 1,790,947 1,184,338 1,025,588 1,165,896 1,002,248
Fund Balance, Beginning of Year 10,875 1,801,822
Fund Balance, End of Year 1,801,822 2,804,070
Unreserved / Undesignated
End of Year 1,801,822 2,804,070
Note:
(1) 05/06 projected capital expenses include the $150K originally budgeted, and $71 K toward the San
Bruno Mountain Habitat as part of the fulfillment of the County settlement agreement.
Capital Projects: 05/06 budgeted capital projects
US 101 Off Ramp & Hook Ramps 150,000
11
REDEVELOPMENT AGENCY, 2005-06
Mid-Year Review
EL CAMINO CORRIDOR PROJECT AREA
Summary of Revenues, Expenditures, and Changes in Fund Balance
Actual Adopted Amended Actual 05/06 Projected
2004-05 2005-06 2005-06 Thru Dec 2005-06
REVENUES
Gross Tax Increment 1,693,952 1,781,500 1,781,500 1,124,092 1,914,551
Interest 51,411 41,000 41 ,000 26,133 52,000
Other Taxes (1,158) (1,158)
Total Revenues 1,745,363 1,822,500 1,822,500 1,149,067 1,965,393
EXPENDITURES
Program Expenditures 291,944 341 ,596 368,044 162,236 368,044
Transfers Out - Debt Service 40,871 40,871 20,435 40,871
Transfers Out - Low Mod Housing 367,050 356,300 356,400 224,818 417,534
Transfers Out - Capital Projects (1) 35,019 2,859,690 2,755 2,859,690
Pass Through Agreements 201,811 217,000 217,000 213,140
Transfers Out - Equipment 8,750 8,750
Total Expenditures 895,824 955,767 3,850,755 410,245 3,908,029
Excess of Revenues
over (under) Expenditures
849,539
866,733 (2,028,255)
(1,942,636)
Fund Balance, Beginning of Year
816,369
1,665,908
Fund Balance, End of Year
1,665,908
(276,728)
Advances From Other Funds
All Reserved Funds
475,126
22,160
Unreserved 1 Undesignated
Fund Balance, End of Year
1,190,782
(298,888)
Note:
(1) Capital Projects:
05/06 budgeted capital projects
EI Caminol Arlington Signal
Oak Ave Extension
EI Camino Real Corridor Impr
Green House Demolition
Total
10,946
2,569,077
79,860
199,807
2,859,690
12
REDEVELOPMENT AGENCY, 2005-06
Mid-Year Review
LOW & MODERATE HOUSING
Summary of Revenues, Expenditures, and Changes in Fund Balance
Actual Adopted Amended Actual 05/06 Projected
2004-05 2005-06 2005-06 Thru Dec 2005-06
REVENUES
Transfers In - 20% Housing 3,689,724 3,484,500 3,484,500 2,332,938 4,056,129
Interest & Other 412,710 360,000 360,000 246,669 460,000
Misc. Revenue / Rent 299,546 70,000 70,000 85,987 110,000
Total Revenues 4,401,980 3,914,500 3,914,500 2,665,594 4,626,129
EXPENDITURES
Program Expenditures 1,786,126 1,336,611 1,517,300 390,577 1,250,000
Transfers Out - Debt Service 327,588 344,089 344,089 217,104 344,089
Transfers Out - Capital Projects 2,000,000 8,500,000 1,474,717 8,500,000
Total Expenditures 2,113,714 3,680,700 10,361,389 2,082,398 10,094,089
Excess of Revenues
over (under) Expenditures 2,288,265 233,800 (6,446,889) 583,196 (5,467,960)
Fund Balance, Beginning of Year 22,319,313 24,607,578
Fund Balance, End of Year 24,607,578 19,139,618
Bond Funds, End of Year 2,639,414 1,639,414
Less:
Loan Commitments to 1,026,632 1,026,632
Mid Pen and Other
Loans Receivable 9,061,853 9,818,565
All Other Reserved Funds 5,478,938 345,991
Unreserved / Undesignated 6,400,741 6,309,017
Fund Balance, End of Year
(1) Capital Projects:
San Mateo County Housing proj
RDA Misc Land Acquisition
13
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