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HomeMy WebLinkAboutAGENDA REPORT 2007 0620 CC REG ITEM 10K I�C�1�lI ► O• K City Council Meeting ACTION: MOORPARK CITY COUNCIL AGENDA REPORT TO: The Honorable City Council FROM: Johnny Ea, Finance Director , 7/ DATE: June 11, 2007 (CC Meeting of June 20, 2007) SUBJECT: Consider Resolution Authorizing the Transfer of Gas Tax and General Fund to Cover Fiscal Year 2005/06 Year-End Deficits in Certain Funds for the City's Landscaping and Lighting Assessment Districts BACKGROUND On June 7, 2006, the City Council approved the assessments for the City's Landscaping and Lighting Districts for FY 2006/07. In the staff report accompanying that action, it was mentioned that certain Assessment District Funds were projected to show a FY 2005/06 year-end deficit. It was also mentioned that, consistent with prior year practices, when the actual FY 2005/06 year-end figures were known, staff would present to the City Council, a budget amendment approving appropriations and fund transfers to "zero-out" those deficits. Please note that a staff report to recommend these transfers was normally submitted to the Council at the end of the second quarter of each fiscal year when audited year-end figures were finalized. Since the projected deficits were budgeted in the FY 06/07 budget, staff was waiting until the end of FY 06/07 to recommend the transfer. However, it appears that completing the transfer by the end of the third quarter of each fiscal year gives staff and the assessment engineer better financial numbers to work with in preparation of the following fiscal year's budget. As such, future transfers will be completed by the third quarter of each fiscal year. DISCUSSION A. Actual FY 2005/06 Year-End Deficits Attached as Exhibit 2 (page 1) is a chart showing the Fund Activity for the Assessment District Funds for FY 2005/06. Certain of those Funds show a FY 2005/06 year-end deficit, summarized as follows: (V0 r66 Honorable City Council January 20, 2007 Page 2 FY 05/06 FY 05/06 Beginning Transfer In Ending Fund Balance Nov-05 Revenue Expenses Balance 2300: Street Lighting - 3100 $ 2,058 $ (2,230) $ 251,185 $ 273,627 $ (22,613) 2300: Landcaping -3102 $ (79,497) $ 79,497 $ 163,765 $ 267,103 $ (103,338) 2305: Landscaping - Dist. 5 (*) $ (8,702) $ 8,702 $ 27,161 $ 36,839 $ (9,678) Total $ (86,141) $ 85,969 $ 442,111 $ 577,569 $ (135,629) Note: Dist. 5: Tierra Rejada Rd. Parkways: Peach Hill Rd to SCE Easement B. Proposed Adjustments As mentioned above, funds have been budgeted in FY 06/07 to cover actual deficits at the conclusion of FY 05/06. Consistent with prior year actions, it is proposed that the Citywide Street Lighting & Landscape deficit be funded by the Gas Tax Fund, and the deficits in the various Landscaping Districts be funded 50-50 by the General Fund and the Gas Tax Fund. Based on this funding strategy, the actions recommended by the attached Resolution are summarized as follows: To Be Transferred to: From From Fund Gas Tax Fund General Fund Total 2300: Street Lighting - 3100 $22,613 $0 $22,613 2300: Landcaping -3102 $103,338 $0 $103,338 2305: Landscaping - Dist. 5* $4,839 $4,839 $9,678 Total $130,790 $4,839 $135,629 C. FY 2006/07 Projected Deficits It is anticipated that the Landscaping and Lighting Maintenance District Funds will again show a deficit at the end of FY 06/07. Fund Activity chart for FY 06/07 is attached as Exhibit 2 (page 2). The estimated amounts are summarized as follows: ➢ '0 2Gr1 Honorable City Council January 20, 2007 Page 3 FY 06/07 FY 06/07 Beginning Ending Fund Balance Revenue Expenses Balance 2300- Lighting (22,613) - 260,173 284,840 (47,280) 2300- Landscaping (103,338) * 279,156 298,945 (123,127) 2305- District 5 LS ** (9,678) * 33,018 34,002 (10,662) 2310- District 10 LS *** 6,917 195,922 224,152 (21,313) Total (128,712) 768,269 841,939 (202,382) Note: Offset by Fund Transfer approved by the attached Resolution. ** Dist. 5:Tierra Rejada Rd. Parkways: Peach Hill Rd to SCE Easement *** Dist.10: Mountain Meadows It is anticipated that the actual FY 06/07 year-end deficit will be funded by a fund transfer, similar to the one requested herein. As such, the $202,382 estimated deficit in FY 06/07 has been budgeted in the FY 07/08 budget in anticipation of the transfer. STAFF RECOMMENDATION (Roll Call Vote) Adopt Resolution No. 2007- Attachments: Exhibit 1: Resolution Exhibit 2: FY 2005/06 Actual Fund Activity FY 2006/07 Estimated Fund Activity Ilk Exhibit 1 RESOLUTION NO. 2007 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MOORPARK, CALIFORNIA, AUTHORIZING FUND TRANSFERS FROM THE GENERAL FUND RESERVES [FUND 1000] AND THE GAS TAX FUND RESERVES [FUND 2605] REQUIRED TO FUND FY 2005/06 YEAR-END DEFICITS FOR CERTAIN ASSESSMENT DISTRICT FUNDS AS DEFINED HEREIN WHEREAS, on June 21, 2006, the City Council adopted the Budget for Fiscal Year 2006/07; and WHEREAS, a staff report has been presented to the City Council requesting a fund transfer in the aggregate amount of$135,629; and WHEREAS, said staff report discusses that the FY 06/07 Budget includes funds to cover the FY 05/06 year end deficits for certain Lighting and Landscape Districts; and WHEREAS, Exhibit "A", attached hereto and made a part hereof, describes said transfers. NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES HEREBY RESOLVE AS FOLLOWS: SECTION 1. That a fund transfer in the aggregate amount of $135,629, as more particularly described in Exhibit "A", 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 20th day of June, 2007. Patrick Hunter, Mayor ATTEST: Deborah S. Traffenstedt, City Clerk Attachment: Exhibit 'A': Fund Transfers Detail ` a ;G9 Resolution No. 2007 Exhibit "A" Fund Transfers Required to Fund FY 05/06 Year-End Deficits In Certain Assessment District Funds To Be Transferred to: From From Total Fund Gas Tax Fund General Fund Transfers 2300: Street Lighting - 3100 $22,613 $0 $22,613 2300: Landcaping - 3102 $103,338 $0 $103,338 2305: Landscaping - Dist. 5* $4,839 $4,839 $9,678 Total $130,790 $4,839 $135,629 0.0 4���Orb � Exhibit 2 Landscape /Lighting Page 1 Assessment Districts Fund Activity:FY06 107 06/07 05/06 06107 06/07 06/07 06/07 Beginning Rev. Levy Transfers In Projected Exp. Projected Total Available Less Ending Fund Description Balance Code Amount Rev#3720 Interest Revenue Code Expenses Less Expenses Reserve Balance 2300 Lighting (22,613) 3100 237,560 22,613 260,173 8901 284,840 (47,280) 0 (47,280) Improvements 0 0 0 0 0 Landscaping (103,338) 3102 175,818 103,338 279,156 7901 &7902 298,945 (123,127) 0 (123,127) 2300 (125,951) 413,378 125,951 0 539,329 583,785 (1701407) 0 (170,407) 2301 Dist 1:T-2851 24,131 3102 9,702 < 1,159 10,861 7901 7,685 27,307 (27,307) 0 2302 Dist 2: US[T2865] 131,923 3102 72,439 6,807 79,246 7901 71,739 139,430 (139,430) 0 Dist 2:Drains 8,365 3103 1,400 1,400 8902 410 9,355 (9,355) 0 2302 140,288 73,839 0 6,807 80,646 72,149 1489785 (148,785) 0 2303 Dist 3:T-3032 2,408 3102 3,079 59 3,138 7901 2,395 3,151 (3,151) 0 2304 Dist 4:T-3274 4,900 3102 6,383 267 6,650 7901 6,843 4,707 (4,707) 0 2305 Dist 5: US[T3019&3525] (9,678) 3102 23,340 9,678 33,018 7901 34,002 (10,662) 0 (10,662) Dist 5: Drains 1,773 3103 500 500 8902 694 1,579 (1,579) 0 2305 (7,905) 23,840 9,678 0 33,518 34,696 (9,083) (1,579) (10,662) 2306 Dist 6:T-3306 1,244 3102 924 60 984 7901 1,216 1,012 (1,012) 0 2307 Dist 7:NE LA&Gabbert 4,031 3102 11,298 393 11,691 7901 14,618 1,104 (1,104) 0 2308 Dist 8:Buffer 12,398 3102 15,243 580 15,823 7901 16,535 11,686 (11,686) 0 2309 Dist 9:Condor 227 3102 1,356 4 1,360 7901 1,313 274 (274) 0 2310 Dist 10:PC-3:US 6,917 3102 194,280 1,642 195,922 7901 224,152 (21,313) 0 (21,313) Dist 10:Drains 36,059 3103 725 < 725 8902 4,873 31,911 (31,911) 0 2310 42,976 195,005 0 1,642 196,647 229,025 10,598 (31,911) (21,313) 2311 Dist 11:T 4174 4,894 3102 3,040 265 3,305 7901 886 7,313 (7,313) 0 2312 Dist 12:Carlsberg 358,744 3102 269,663 15,562 285,225 7901 241,063 402,906 (402,906) 0 2313 Unassigned 0 0 0 0 0 0 0 Sub-Total AD 84-2 462,385 1,026,750 135,629 26,798 1,189,177 1,212,209 439,353 (641,735) (202,382) 2314 Dist 14:T-5201 [Wilshire] 2,858 3102 1,381 < 331 1,712 7901 760 3,810 (3,810) 0 2315 Dist 15: T4928[Toll] 1,628,567 3102 53,959 < 76,377 130,336 7901 61,039 1,697,863 (1,697,863) 0 2316 D-16:T-5161 [Cabrillo]US 49,191 3102 1,545 < 3,990 5,535 7901 10,481 44,245 (44,245) 0 Dist 16: Drains 36,680 3103 829 < 829 8902 0 37,509 (37,509) 0 2316 Totals 85,871 2,374 0 3,990 6,364 10,481 81,754 (81,754) 0 2317 Unassigned 0 0 0 0 0 0 0 2318 D-18:T-5307[Flory]US 26,037 3102 3,494 < 1,529 5,023 7901 9,739 21,321 (21,321) 0 Dist 18: Drains 8,204 3103 3,494 0 3,494 8902 0 11,698 (11,698) 0 2318 34,242 6,988 0 1,529 8,517 9,739 33,019 (33,019) 0 2319 Dist 19:M&M 15,600 3102 14,020 758 14,778 7901 0 30,378 (30,378) 0 2320 Dist 20:Lyon Track#5187 4,775 3102 0 257 257 7901 5,000 32 (32) 0 2321 Dist 21:Shea Track#5133 4,554 3102 27,753 258 28,011 7901 0 32,564 (32,564) 0 2322 Dist 22:Pardee Track#5045 4,181 3102 0 245 245 7901 0 4,426 (4,426) 0 2322 Dist 22:Pardee Track#5045 0 0 245 245 0000 5,000 245 (245) 0 2323 Dist 23:Suncal Track#5130 4,636 3102 0 260 260 7901 0 4,896 (4,896) 0 2324 Dist 24:Goldman Parkway 27 3102 5,000 475 5,475 7901 120 5,382 (5,382) 0 2325 Dist 25:Village @ Moorpark 0 3102 5,000 26 5,026 7901 5,026 0 0 0 2325 Dist 25:Village @ Moorpark 0 0 0 0 0000 0 0 0 0 r" (� Total 2,247,696 1,143,225 135,629 111,549 1,390,403 1,309,374 29333,722 (2,536,104) (202,382) Exhibit 2 Landscape /Lighting Page 2 Assessment Districts Fund Activity:FY07/08 07/08 07/08 06/07 07/08 07/08 FY 07/08 07/08 Beginning Rev. Levy Transfers In Projected Exp. Projected Total Available Less Ending Fund Description Balance Code Amount Rev#3720 Interest Revenue Code Expenses Less Expenses Reserve Balance 2300 Lighting (47,280) 3100 241,765 47,280 289,045 8901 302,000 (60,235) 0 (60,235) Improvements 0 0 0 0 0 Landscaping (123,127) 3102 177,215 123,127 300,342 7901 &7902 376,974 (199,759) 0 (199,759) 2300 (170,407) 418,980 170,407 0 589,387 678,974 (2591994) 0 (259,994) 2301 Dist 1:T-2851 27,307 3102 6,112 < 1,305 7,417 7901 7,849 26,875 (26,875) 0 2302 Dist 2:US[T2865] 139,430 3102 72,789 7,508 80,297 7901 79,337 140,390 (140,390) 0 Dist 2:Drains 9,355 3103 1,050 1,050 8902 428 9,977 (9,977) 0 2302 148,785 73,839 0 7,508 81,347 79,765 150,367 (150,367) 0 2303 Dist 3:T-3032 3,151 3102 3,079 60 3,139 7901 3,400 2,890 (2,890) 0 2304 Dist 4:T-3274 4,707 3102 6,383 326 6,709 7901 8,899 2,517 (25517) 0 2305 Dist 5:US[T3019&3525] (10,662) 3102 23,340 10,662 34,002 7901 41,294 (17,954) 0 (17,954) Dist 5:Drains 1,579 3103 500 500 8902 428 1,651 (1,651) 0 2305 (9,083) 23,840 10,662 0 34,502 41,722 (16,303) (1,651) (17,954) 2306 Dist 6:T-3306 1,012 3102 924 63 987 7901 1,750 249 (249) 0 2307 Dist 7:NE LA&Gabbert 1,104 3102 11,298 652 11,950 7901 16,147 (3,093) 0 (3,093) 2308 Dist 8:Buffer 11,686 3102 15,243 652 15,895 7901 33,685 (6,104) 0 (6,104) 2309 Dist 9:Condor 274 3102 1,356 4 1,360 7901 2,050 (416) 0 (416) 2310 Dist 10:PC-3:US (21,313) 3102 194,280 21,313 1,958 217,551 7901 247,727 (51,489) 0 (51,489) Dist 10:Drains 31,911 3103 725 < 725 8902 5,134 27,502 (27,502) 0 2310 10,598 195,005 21,313 1,958 218,276 252,861 (23,987) (27,502) (51,489) 2311 Dist 11:T 4174 7,313 3102 3,040 326 3,366 7901 1,110 9,569 (9,569) 0 2312 Dist 12:Carlsberg 402,906 3102 279,644 16,322 295,966 7901 170,789 528,083 (528,083) 0 2313 Unassigned 0 0 0 0 0 0 0 0 Sub-Total AD 84-2 439,353 1,038,743 202,382 29,176 1,270,301 1,299,001 410,653 (749,703) (339,050) 2314 Dist 14:T-5201 [Wilshire] 3,810 3102 1,432 < 140 1,572 7901 970 4,412 (4,412) 0 2315 Dist 15: T4928[Toll] 1,697,863 3102 111,913 < 82,918 194,831 7901 113,778 1,778,915 (1,778,915) 0 2316 D-16:T-5161 [Cabrillo]US 44,245 3102 8,009 < 4,243 12,252 7901 8,200 48,298 (48,298) 0 Dist 16: Drains 37,509 3103 860 < 860 8902 5,000 33,369 (33,369) 0 2316 Totals 81,754 8,869 0 4,243 13,112 13,200 81,667 (81,667) 0 2317 Unassigned 0 0 0 0 0 0 0 0 2318 D-1 8:T5307[Walnut Acres]U 21,321 3102 16,343 1,632 17,975 7901 16,915 22,381 (22,381) 0 Dist 18: Drains 11,698 3103 5,614 0 5,614 8902 5,000 12,312 (12,312) 0 2318 33,019 21,957 0 1,632 23,589 21,915 34,693 (34,693) 0 2319 Dist 19:M&M 30,378 3102 13,216 979 14,195 7901 2,686 41,887 (41,887) 0 2320 Dist 20:Lyon Track#5187 32 3102 20,507 326 20,833 7901 19,775 1,090 (1,090) 0 2320 Dist 20:Lyon Track#5187 0 0 0 0 0000 0 0 0 0 2321 Dist 21:Shea Track#5133 32,564 3102 28,665 326 28,991 7901 14,775 46,780 (46,780) 0 2322 Dist 22:Pardee Track#5045 4,426 3102 20,507 326 20,833 7901 19,775 5,484 (5,484) 0 2322 Dist 22:Pardee Track#5045 245 0 0 0 0000 0 245 (245) 0 2323 Dist 23:Suncal Track#5130 4,896 3102 0 326 326 7901 0 5,222 (5,222) 0 2324 Dist 24:Goldman Parkway 5,382 3102 0 652 652 7901 0 6,034 (6,034) 0 2325 Dist 25:Village @ Moorpark 0 3102 5,185 26 5,211 0000 5,000 211 (211) 0 .y E�' Total 2,333,722 1,270,994 202,382 121,070 1,594,446 1,510,875 2,417,048 (2,756,098) (339,050)