The URL can be used to link to this page

Home My WebLink AboutAGENDA REPORT 1996 1120 CC REG ITEM 07DITEM -_7.0 tot-* CITY OF MOORPARK CITY COUNCIL AGENDA REPORT r TO: The Honorable City Council - - r---- FROM: Donald P. Reynolds Jr., Administrative Services Manager DATE: November 14, 1996 SUBJECT: Consider Additional Appropriation for Improvements At Arroyo Vista Community Park, ( "AVCP ") mm During budget deliberations, staff recommended that no capital improvements should be funded for the AVCP from the Park Improvement Fund until a final accounting of the period from fiscal year 1992/93 to 1995/96 is complete. This was to allow an audit of previous construction costs. That audit has been completed, and this report summarizes the cost of construction through June 30, 1996, as $4,092,734, and with a total budget of $4,089,282. This exceeds the budget by $3,452. This includes funding from: 1) two approved loans from the other Park Improvement Zones to the Community Park Zone of $310,000; 2) re- authorization of a GANN Fund Transfer from 1994/95 (a journal entry) of $97,000 from the General Fund reserve, and; 3) does not assume that one outstanding receipt of $3,300 from AYSO will be received. :.� zlytell 4 The combined funding for the initial portion of the park improvements (referred to as Phase I, including the grading, wells and building improvements), of $3,653,514 was composed of several different resources as summarized as follows: ► Park Improvement Revenues for the Community Zone $ 999,511 ► Interest Income on Park Improvement Funds $ 224,625 ► Urban West Communities $1,000,000 ► GANN /General Fund $ 300,000 ► MRRA $ 226,924 ► Fund 36 Grant /Edison Energy Efficiency $ 56,400 ► Transfer of 40% from the Central Zone $ 946337* SUB -TOTAL $3,753,797 $3,753,797 Less 1992/93 for Expenses Related to Community Center $ 72,964 Senior Center 27-319 $100,283 ($ 100,283) TOTAL $3,653,514 * Council initially approved a 20% shift, and then subsequently approved a 40% shift from the Central Zone to Community Zone, and this action is consistent with Council adopted change. The total cost of Phase I is $3,474,164, leaving $179,350 to be used to complete the field improvements and restrooms referred to in this report as Phase I1. The $179,350 was added to various other funding resources as follows: ► Interest Income from Zone Fund Balance 7/92 to 6/9.5 $ 11,73 1 * ► Community Zone Revenue 1995/96 $ 17,037 ** ► Savings from Initial Phase Development $ 179,350 ► Campus Park Zone Loan for Multi - Purpose Court $ 85,000 ► Central Park Zone Loan for General Phase II Imps. $ 225,000 ► GG IAN /General Fund Contribution $ 97.000 * ** TOTAL $ 615,118 As of 1995/96, no interest has been credited to this zone, as a result of the approved loans from prior years. ** Includes $1,700 from AYSO, leaving a balance due of $3,300 * ** Requested for Re- Authorization in this report At the March 15, 1995, Council meeting, staff reported that the bidding had been completed for Phase II improvements totaling $71 3,800, which was $296,100 more than the budget of $417,700. The Council agreed to reduce the scope of work $71,100, revising the cost estimate to $642,700, leaving $225,000 to be funded from a loan from the Central Zone, (added to the previously approved loan of $85,000 from the Campus Park Zone for the multi - purpose court) making the total for approved loans $310,000). The Council agreed that a loan from the Central Zone to the Community Park Zone was preferred when compared to using Redevelopment monies which had been reserved for Poindexter Park. At that time, the Council had reason to believe that new developer contributions splitting the 40% rather than 20% to the Community Zone, would help to repay the debt to the Central Zone. During the Council's budget deliberations for 1996/97, it was the recommendation to the Council June 12, 1996, from the Budget and Finance Committee (Mayor Lawrason and Mayor Pro -Tern Wozniak), to audit the AVCP capital improvements, and if a deficit resulted, to balance the fund to the approved loan amount of $310,000, before appropriating monies for projects this fiscal year. At the June 12, 1996 Council meeting, it was decided that the Moorpark Redevelopment Agency would repay the General Fund for past operating expenses of $649,968 including interest, which when combined with other General Fund operating savings, totaled $902,131. A portion of these monies were appropriated for improvements at AVCP, in Iieu of having park improvement funds available. These appropriations total $185,000, $100,000 for the pedestrian bridge access road; $10,000 for kitchen equipment, and; $75,000 for a temporary teen center. Additionally, there was discussion of a permanent teen center placing $125,000 in reserve for this purpose. The combined total for AVCP this fiscal year including both teen center contributions is $310,000. The audit has been completed and the results are presented below. To summarize these results, the audit indicates that the project is $152 over budget through June 30, 1996, if the AYSO contribution of $3,300 is received, and the Council re- authorizes staff to complete a transfer of $97,000 (journal entry) which was part of the 1994/95 budget. The original budget for the Phase II improvements was adopted in May of 1994, and the completion of Phase I of the project was not realized until later that summer. This caused a minor problem where the cost savings from Phase I was estimated to be $190,000, and was only $179,350. The journal entry needed to complete the transfer $97,000 in GANN funds resulting from the 1994/95 budget deliberations, if done in conjunction to this report, would result in a reduction to the projected General Fund reserve balance. The actual costs of Phase 1I resulted in a savings of $14,380, and some other minor issues resulted in slightly higher revenues, taking the $97,000 into consideration, results in the current deficit of $3,452. The AYSO organization is expected to complete their contribution of $5,000, which has an outstanding balance of $3,300, which when paid will balance all but $1.52 of the project expenditures. There is no record in the minutes of previous Council meetings that interest is to be added to the repayment of the two loans of $310,000. As noted above, staff did not transfer the $97,000 in 1994/95, so this amount needs to be added as a journal entry, but because it impacts the projected year -end balance in the General Fund reserve, staff is requesting that this be part of the transfer. Staff is also requesting a General Fund transfer of $3,452, to account for the pending AYSO contribution and the $152 deficit. These transfers totaling $100,452 are presented in Attachment "C" to this report, Resolution 96- _ to "balance" the fund to the approved deficit of $310,000. sumo,$" The City issued loans to account for the funding shortfall in the Community Park Zone totaling $310,000. This amount, added to the correction of the $97,000 GANN contribution of 1994/95, accounts for most of the Phase II funding. The only remaining issues are the AYSO contribution of $3,300 and the remaining deficit of $152. This year, using non -park improvement funds, the Council authorized a new appropriation equal to the loan amount of $310,000, for a teen center, the pedestrian bridge access road and kitchen equipment. At June 30, 1996, there is a negative fund balance of $3,452 in the Community Zone of the Park Improvement Fund, plus outstanding loans of $310,000. The action to appropriate the $3,452 requested will then bring the fund balance to zero, except the loans as noted. 3 000067 r WNW" 1. f That the City Council adopt Resolution 96- presented as Attachment "B ", appropriating $100,452 from the General Fund Reserve to the Community Park Development Zone, comprised of a re- authorization of a previous appropriation of $97,000, $3,300 anticipated revenues from AYSO and $152, and that when the AYSO contribution of $3,300 is received, that it be credited back to the General Fund. Attachments A) Summary of Funding and Costs for Both parts of Phase I B) Resolution 96- 0 OVVV�.t� ATTACHMENT A SUMMARY OF THE AVCP CAPITAL IMPROVEMENT BUDGETS Total of Funding Sources Phase I $3,653,514 Savings ($ 179,350) Sub -Total $3,474,164 Phase II $ 615,118 $4,089,282 $4,089,282 Total Construction Costs Phase I $3,474,164 Phase II $ 618,570 $4,092,734 $4,092,734 Surplus/Deficit ($ 3,452) 5 000069