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Home My WebLink AboutAGENDA REPORT 2007 0307 CC REG ITEM 10K7Em I°• K • ___ C -O::,. ... - lee,: ACTION: /� ��• -�� MOORPARK CITY COUNCIL AGENDA REPORT TO: Honorable City Council FROM: Johnny Ea, Finance Director Prepared by: Debbie Sanquist, Accountant I DATE: February 15, 2007 (City Council meeting of March 7, 2007) SUBJECT: CONSIDER RESOLUTION AUTHORIZING MID -YEAR AMENDMENTS TO 2006/2007 FISCAL YEAR BUDGET BACKGROUND The City Council adopted a budget for fiscal year 2006/2007 on June 21, 2006 and periodically has amended it by resolution for various projects and programs. After a review of the current budget status, in anticipation of developing a budget recommendation for the new fiscal year, staff has compiled additional recommended budget amendments for the City Council's consideration. DISCUSSION The attached resolution makes several revenue and expenditure adjustments to the currently adopted 2006/2007 fiscal year budget, with an explanation for each item contained in Exhibit "B ". Revenue adjustments are either increases or decreases due to unanticipated revenue or receipts higher or lower than budgeted. Expense adjustments are all either cost increases that the Council has previously authorized, omissions, or critical items that were not previously included in the budget. General Fund increases will be covered mostly by additional projected General Fund revenues. The Community Development Fund shows a projected $772,960 revenue decrease and a corresponding expenditure decrease of $505,792. These decreases are a result of fewer residential construction activities than originally budgeted. As a result of these changes, the Community Development Fund is projected to end the year with a deficit of approximately $267,000. As such, General Fund reserves will be needed to cover this deficit. An analysis will be performed as part of the FY 2007/08 budget to determine the required level of funding. There were a number of costs associated with the installation of the temporary modular buildings that were not known and /or not included in the original budget. Some of the items not included in the budget were two retaining walls, costs to salvage a mature tree, and an accidental cutting of a telephone line to City Hall and the Annex building, 000246 necessitating emergency repair. There were also several change orders issued to the modular building installers to account for some last minute changes to floor plans, ramps and decks. The council approved budget at the beginning of the project was $354,000. The mid -year request is $259,955. This amount includes costs for moving expenses ($10,500); computers ($17,700); breakroom and conference room equipment ($10,000); additional funds for furnishings ($14,000, $44,000 of the furnishing cost were covered within the original budget). The additional $207,755 is being requested to cover additional construction and landscaping costs associated with completing the building. $98,742 is being allocated to cover work that has already been completed and paid for and an additional $109,013 is requested to cover landscaping, irrigation, security gates, trash receptacles, concrete walkway and steps, exterior fencing, interior privacy screening, signage, construction of the new front counter, parking striping, data communications installation, repainting of the annex skirting, alarm installation and the addition of exterior lighting. Other fund increases will either be covered by additional projected revenues or come out of available reserves. Exhibit "A" summarizes the projected changes to revenues and expenditures and the net fiscal impact by fund. STAFF RECOMMENDATION (Roll Call Vote Required) 1. Adopt Resolution No. 2007- amending the fiscal year 2006/2007 budget as noted in Exhibits "A & B" to the attached resolution. 00024: RESOLUTION NO. 2007- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MOORPARK, CALIFORNIA, AUTHORIZING AN AMENDMENT TO THE FISCAL YEAR 2006/2007 ADOPTED OPERATING AND CAPITAL IMPROVEMENTS BUDGET WHEREAS, on June 21, 2006, the City Council adopted the Operating and Capital Improvements Budget for fiscal year 2006/2007; and WHEREAS, certain additions and adjustments to the budget are proposed to allow for effective service delivery for the balance of the fiscal year; and WHEREAS, the City Council now wishes to amend the 2006/2007 fiscal year budget as noted in Exhibits "A & B ". NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. A budget amendment in the aggregate increase in expenditures of $22,250 from Internal Services Fund, $10,000 from the Library Facilities Fund, $770 from Traffic Safety Fund, $53,000 from Traffic System Fund, $267,168 from the Community Development Fund, $150 from Affordable Housing Fund, $4,000 from the AD84 -2 Citywide Fund, $14,000 from the Park Maintenance Fund, $50,000 from the Street Maintenance Fund, $45,540 from the Gas Tax Fund, $5,276 from the Shekell Fire Fund, and $3,100 from the Solid Waste Fund; and a budget amendment in the aggregate increase in revenues of $995 from General Fund, $15,000 from Zone 3 Development Fund, $49,000 from Art in Public Places Fund, $10,000 from Library Services Fund, $25,000 from Open Space Maintenance Fund, $18,459 from AD2006 — Goldman Fund, $5,000 from AD2006 — Village at Moorpark Fund, $12,000 from TDA Article 3 Fund, and $85,073 from Endowment Fund, as more particularly described in Exhibits "A & B" attached hereto is hereby approved. SECTION 2. The City Clerk shall certify to the adoption of this resolution and shall cause a certified resolution to be filed in the book of original resolutions. PASSED AND ADOPTED this 7th day of March, 2007. 000248 Patrick Hunter, Mayor ATTEST: Deborah S. Traffenstedt, City Clerk Attachment: Exhibits A and B — Mid Year Budget Amendment 000219 Exhibit "A" CITY OF MOORPARK Mid Year Budget Amendment for the 2006/2007 Fiscal Year Summary by Fund C G O ra U1 O Projected Projected Net Fund Revenue Expenditure Impact Fund Increase Increase Increase (Decrease) (Decrease) (Decrease) 0100- Internal Services $ 1000 - General - 5 22.250 3 (22.250) 1010- Library Services 310.000 309,005 995 2000- Traffic Safety (10.000) 10 000 2001 - Traffic System 770 (770) 2113 - Zone 3 Dev 53,000 (53.000) 2151 Art in Public Places 15.000 - 15.000 2154 - Library Facilities 49,000 - 49,000 2155 - Open Space Maint 10.000 (10.000) 2200 - Community Dev 25 000 - 25.000 2201 - Affordable Housing (772 960) (505.792) (267,168) 2300 - AD84 -2 Citywide - 150 (150) 2324 - AD2006 - Goldman 4,000 (4,000) 2325 - AD2006 - Village at Moorpark 18.459 5.000 18,459 2400 - Park Maintenance 5.000 2502 - Street Maintenance - 14.000 (14,000) 2602 - TDA Article 3 50.000 (50.000) 2605- Gas Tax 12.000 - 12.000 2711 - Shekell Fire - 45 540 (45.540) 2800- Endowment - 5 (5.276) 5001 - Sold Waste AB939 85.073 - 85.073 10.700 13 800 (3 100) 5 (242.728) $ 11.999 3 (254 727) C G O ra U1 O Exhibit "B" Mid Year Budget Amendment for the 200612007 Fiscal Year lb Object Current Current Amended Budget Unit Code Fund Description Budget Actual Revision Budget Explanation REVENUE: 1000 3401 General Rents and Concessions $ 71.000 $ 181.316 $ 130,000 $ 201,000 Pnnceton settlement for back rent 1000 3588 General Other State Funds 51.525 139.028 130,000 181.525 SB90 payments for prior years 1000 3601 General School District Funding - 8,424 40.000 40.000 HSRO reimbursement per agreement with MUSD 1000 3730 General Contributions/Donations 10.000 10.000 10 000 Library donations Subtotal 310 000 2113 3400 Zone 3 Development Fees Investment Earnings 50 5.219 15,000 15.050 Higher cash balance increased interest percentage 2151 3400 An in Public Places Investment Earnings 4 838 14.391 49,000 53.838 Higher cash balance increased Interest percentage 2155 3118 Open Space Maintenance Other Development Fees 70,000 95.000 25.000 95,000 Developer fees for open space 2200 3240 Community Development Residential Building Permits 1.204,052 252,268 (500.000) 704,052 Reduction in permits due to less residential construction 2200 3822 Community Development Zone Clearance 35.000 41 750 35.000 70.000 Additional zone clearances 2200 3831 Community Development Plan Check Residential 243.960 72.340 (118.960) 125.000 Reduction in plan checks due to less residential construction 2200 3832 Community Development Plan Check Non - residential 28,332 45 209 20.000 48 332 Additional plan checks for non-residential construction 2200 3840 Community Development Planning Time Charges 609,000 174.922 (209.000) 400.000 Reduction in planning charges due to less residential construction 2324 3102 AD 2006 - Goldman Landscape Maintenance - 18.459 18,459 18.459 Property taxes for new Lighting & Landscape assessment district 2325 3102 AD 2006-Village at Mpk Landscape Maintenance 5,000 5,000 5.000 Prior year developer deposit adjustment 2602 3511 TDA Article 3 Article 3 Bicycle /Pedestrian 13.000 25.000 12,000 25.000 Article 3 revenue higher than budgeted 2800 3809 Endowment Administration Fees - 85.073 85 073 85,073 Moorpark Highlands adm n fee and continuing disclosure report 5001 3522 Solid Waste AB939 Universal Waste Program 10 700 10.700 New Universal Waste Program grant reimbursement Net Total revenue S (242,728) lb