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HomeMy WebLinkAboutNB 5 MID-YR BUDGET 03-20-89 . . 10: HONORABLE MAYOR AND CITY COUNCIL FROM: WILLIAM A. HUSTON, CITY MANAGER SUBJECT: MID-YEAR BUDGET REVIEW RECOMMENDATION: It is recommended that: 1. One million dollars be transferred from the 1988-89 General Fund reserve to the Capital Improvements Fund for the Jamboree Road extension project (Edinger to Barranca); 2. $373,000.00 dollars be transferred from the 1988-89 General Fund reserve to 'the Park Development Fund for future City parks located in Tustin Ranch; 3. The mid-year budget review be received and filed. DISCUSSION: Attached is a mid-year budget review which includes projected year- end revenues, expenditures, inter-fund transfers and fund balances for all funds. Also attached is a memorandum from the Finance Director which discusses any significant deviations from the approved 1988-89 budget. Overall, projected expenditures will be within the approved budget. Recommendations one (1) and two (2) above implement previous City Council policy to proceed with the Jamboree Road project and to accumulate new construction fees generated from Tustin Ranch development projects for the construction of City parks. The City's share of the Jamboree Road extension project is approximately 4.7 million dollars (construction and right-of-way). This amount assumes that Federal Aid Urban (FAU) funds, will not be obtained; however, an application for partial FAU funding of the right-of-way costs (approximately 2.0 million dollars) is pending. With the 1.0 million dollar transfer, a total of 1.85 million dollars will be allocated for the City's share of construction costs. A proposed approach for funding the balance of the City's share of construction and right-of-way costs will be set forth in the draft 1989-90 budget. MID-YEAR BUDGET REVIEW March 17, 1989 Page 2 . At its parks financing workshop, the City Council directed that new construction fees from Tustin Ranch developments be allocated for future parks. The recommended transfer includes new construction fees projected to be collected through June 30, 1989 less capital outlay expenses for equipment acquired to serve Tustin Ranch (the City Council also directed-'that capital items, such as street sweepers, trucks, police vehicles, etc. be funded by new construction fees). New development fees are being used for the neighborhood park currently under construction on E1 Camino Real and would be used to fund another neighborhood park proposed for 1989-90. Staff will be submitting a report to the City Council later this year on options for financing other Tustin Ranch parks since new construction fees will not cover the full cost of parks identified in the East Tustin Specific Plan and Recreation Element of the General Plan. The projected June 30, 1989 General Fund balance of $4,907,840.00 (see attached Fund Balance Projections as of second quarter, 1988-89) reflects the above recommended transfers. This amount is within the Parameters for the minimum balance that should be maintained for cash flow and contingency purposes. TO: FROM' SUBJECT: RONALD A. NAU~DIRECTOR OF FINANCE HID-YEAR BUDGET REVIEW Attached for your review is the Quarterly Report for Mid-Year 1988-89. The projected June 30, 1989 numbers were generated by analysis of all sources of revenues and expenditures by the Management Staff. These numbers have been finalized at .this time so as to be the basis for preparation of the Draft Budget for Fiscal Year 1989-90. As you might well imagine, major activity during the current year has revolved around the Tustin Ranch development. Subsequently, the significant variance in revenues or expenditures are in this area. We are projecting revenues for both assessment districts to come in on budget, and expenditures -are projected to be $24 million this year with $52 million of projects carried over to fiscal 1989-90. The Gas Tax Fund also shows a major variance with both revenue and expenditure budgets. The single largest Gas Tax project is Jamboree Road through the Marine Base. This $23 million project will be carried over to next fiscal year. In the General Fund we are projecting a short fall in estimated revenues of $352,000, or about 2 percent. This is all in the area of miscellaneous revenues, with the largest item being $139,000 due to a mid-year change in accounting for revenues related to the construction of the park in Tract 12345. In expenditures, we are projecting a savings in operations of $615,000, or about 3.5 percent. There are some areas that will experience over runs; Public Works, Engineering, Streets, Parks and Community Services Youth Services. Engineering was directed to undertake specific projects for which we have not followed up with appropriations. Both streets and parks have experienced variances from new positions and turnover that necessitated the use of temporary help. The overage in operations are partially offset by savings in personnel costs. Community Services has had an increase in it's Youth Services Program utilization. The increase in costs in offset by fees. Public Works is projecting that about $164,000 of Capital Improvement projects will be carried over to next fiscal year. Page 2 March 16, 1989 Mid-Year Budget Review In the Redevelopment Agency, Public Works is projecting that $774,000 of Capital Improvements will be carried over to ne~t fiscal year. The Water Enterprise Fund will also carry over several Capital Improvement projects to next year, about $745,000 worth. In operations we are projecting an over run of $89,000. Apparently the Nitrate Removal Facility came on line ahead of schedule, and the operating expenses were not originally budgeted for this year. Per our discussion regarding future capital requirements, I have arrived at the projected June 30, 1989 General Fund Balance by transferring $373,000 from the General Fund to the Park Development Fund. This is the proceeds of New Construction Tax collected from Tustin Ranch, net of one time capital outlay and the construction of the park in Tract 12345. Also, $1 million has been transferred to the Capital Improvement Fund designated for the city's share of the Jamboree Road project. Of the remaining balance of $4.9 million, $165,000 is reserved for carried over capital projects. The remaining $4.7 million is 24 Percent of projected expenditures for 1988-89. At the completion of the Third Quarter Report compilation, we will identify any material changes to our year end projections. Please note that when comparing the Detail Revenue and Expenditure Schedule's with the Fund Balance Projection Schedule that on the Fund Balance Schedule the Projected Expenditures and the Inter-Fund Transfers equal Total Expenditures. RAN:is Attachment II u1 II ~ II -, II ~0 II II I! II II ~ II ~0 II u1 II ,, II ~ II L/1 II 'fl II ~, I! II II II ~t II U'l II ~ II m x zo ;z~ m m ~ m z 0 z c;~ ~,, '--~0 m -n -'0 0 ~ c~ II II II II II II II II II II ff II c:~ II z rtl -ri rrt "ri ~ Z II ee II II o II ii -~ ii ~0 II L/I II N II ~, II ~0 II o II ut II c- ~ m --¢ -~ m ~o II II ~ II II II II II F II I'~ II .=~ II *, II ~ II O~ II I~ II II II II ',4 II II ~, II II ~ II ~ II -, II.~.' II4:::) II~ II II ~ II ~ II C~ II II II O~ I! II I! I! II Oo I! II 'o, ~ '~, o o o o, 'o, o ~ o ~ o ,o o o o o ~ o o o o o N N m II II ~ II .-~ II ~ II ~ II ', II iff II II ~ II *~ II ul II o II -,~ II I! 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Council Chamber/ Con~nunity Bldg. repairs and improvements. GF $36,500 2.Replace carpet in Maint. Facility. 3.Bteachers-BC Total 1988-89 BAL. TO BE 1988-89 ESTIMATED . CARRIED TO FUND BUDGET 'EXPENSE 1989-90 $12,000 $24,500 GF 2,500 2,50O GF 17,000 17,000 $56,000 $31,500 $24,500 30. BEAUTIFICATION PROJECTS: 1.General street light prog. a) Andrews St. B b) Various loc's. B 2.Construct embossed concrete on Medians at var. loc~s. a) Hail Cir/First.St($5,300) b)Fashion Lane/First(S2,600) c)Fashion Lane/Irvine($2,600) d)Irvine/Old Irvine($1,800) e)Bryan/Stonehenge($22,100) 8 Total $950 $950 18,000 18,000 34,400 34,400 $53,350 $53,350 $0 40. COMMUNITY SERVICES FACILITIES: t.Neighborhood Park Tract No. 12345 GF S555,835 $567,000 2.Centennial Pk-Play equip. GF 3.Centennial Pk-VB court GF 11,000 11,000 1,450 1,~50 4. Senior Ctr facility Total GF 1,158,645 1,253,000 $1,726,930 $1,832,450 $0 60. TIL~NSPORTION FACILITIES: 1.Major Maint. program 2.Jamboree Rd-Edinger to Barranca Parkway. GF $445,823 $445,823 GT 847,500 847,500 FAU 2,871,130 .2,871,130 IRV 10,580,000 10,580,000 TIC 8,280,000 8,280,000 GF 50,552 50,552 3.Warner ave. RR Cross improvemen~s.(Comp. 87/88) GF 4.Red Hill Ave. widening- a)From Walnut Nr. GT b)From Red Hill east. AHFP 5.Main st. Reconstruct from Pacific st. to RTE 55 FWY. GT OCUTT 6~Main St. lighting from C st. to Pacific st. GF 256,000 256,000 253,390 253,390 114,400 57,200 57,200 114,400 57,200 57,200 25,498 25,498 PAGE 1 FUND 60. TRANSPORTION FACILITIES:(CONT) 7.Bus benches. GF 8.Bikeway/Pedestrain fac. GF (Comp. 87/88) 9.Pavement rehab-Storm drain const-Jan Marie,S~erra Vista,Karen Nay HCDA (Comp. 87/88) lO.Utt dr. Reconstruct from San Juan to Lance GT 11.Green Valley reconstruct from San Juan to Lance GF 12.Soundwa[[ berm-TR RD GF 13.First st. widening/ reconstruct from RTE 55 to westerly City limits 1988-89 BAL. TO BE 1988-89 ESTIMATED CARRIED TO BUDGET EXPENSE 1989-90 .' 5,000 5,000 113,968 172,611 102,432 102,432 5,000 5,000 GT 71,000 71,000 AHFP 97,000 97,000 SA 50,000 50,000 14.0range st. widening/ reconstruct between EL Camino Rea[ & Orange st. HCDA 15.Main st.-C to Pacific GF 16.Cherrywood & Walnut- Left turn phasing GF 17. Impact study-San Juan GF 18.SB 821 Supplement GF 19.Hollyhock & Glen Arbor GF 20.Jamboree-Irvine to Chapman EIR prep GF (Reim. by TlC) Total 159,500 35,000 35,000 159,500 11,300 11,300 5,250 18,000 14,580 14,580 7,200 7,200 18,800 $24,515,923 $1,121,602 $23,484,514 65. TRAFFIC CONTROLS: 1.Misc. Traffic safety projects-HES Grant GF 2.Modify permissive left turn phasing(var. Loc~s) GF 3.Install signal controller a Red Hill/San Juan GF Total 70. FLO00 CONTROL F~CILITIES: 1.In channel facilities for San Diego Creek watershed a)Monitoring b)Maint/oper 2.Storm Drain-6th st. bt B and Pacific;Pacific bt 6th and Main $40,439 20,000 20,000 17,000 17,000 $37,000 $77,439 $0 GF $10,000 $10,000 GF 22,000 22,000 GF 3.San Diego Creek Drain GF 4.Myrtle-I-5 to Main GF 285,700 285,700 2,000 2,000 9,200 9,200 PAGE 2 1988-89 BAL. TO BE 1988:89 ESTIHATED CARRIED TO FUND BUDGET EXPENSE 1989-90 70. FLOOD CONTROL F~CILITIES:(CONT) 5.Jan Harie pavement/ drainage imp. HCDA 6.EL Hodena Basin-Auto Ctr GF Total Total Governmental Funds REDEVLOPHENT AGENCY 10. PUBLIC FACILITIES: 1. ]ST ST Uti L i ty underground BT Prospect $ Newport TC 2.Newport/HcFadden under- grd BT RTE 5 & 14a[nut Ave. SC 4.Senior Center TC Total 60. TRANSPORTATION FACILITIES: 1.Reconstruct alley so. of Bonita Bt. Newport & Orange TC' 2.Tustin Ranch Rd-Jamboree/ I5 interchange TC 3.Tustin PLaza St Imp TC Total 65. TRAFFIC CONTROL FACILITIES.- 1.Modify Various Intersections for [eft turn phasing TC 2.Sig install-Edinger @ De[ Amo SC 3.Newport/14ass Sig. install TC Total 70. FLOOD CONTROL FACILITIES: 1 .Storm Drain-Amagansett BT Prospect & Acacia TC 2.Storm Drain-Nisson BT B & 800 FT westerly SC 3.Storm Drain-Edinger BT Red Hill & De[ Amo SC Total Total RDA 20,000 20,000 558,000 558,000 $906,900 S906,900 $0 $27,296,103 $4,023,241 $23,509,014 $1,000 S1,000 12,000 12,000 90,708 90,708 $103,708 $13,000 $90,708 $34,706 $19,389 $18,411 184,921 184,921 1,015 $219,627 $205,325 $18,411 $11,000 $11,000 92,150 78,660 90,000 90,000 $193,150 $89,660 $90,000 $291,437 $291,437 105,000 105,000 169,236 169,236 $565,673 $0 $565,673 $1 , 082,158 $307,985 $764,792 PAGE 3 1988-89 BAL. TO BE 1988-89 ESTIMATED CARRIED TO FUND BUDGET EXPENSE 1989-90 WATER SERVICE 90'. WATER SUPPLY AND DISTRIBUTION: 1.Bell ave./Warner ave loop completion WF 2.Well meter replacement wit~ McCrometer f[ged tube mtrs WF 3.Lanscape ~Simon Reservoir WF 4.Masonry wall & gate a 17th St we[[ site WF 5.Retain wall & [arx~scape/ Irrigat.-Foothi[[ Resv. WF 6.Modfy/Imprv telemetry sys WF 7.Well & well head facility WF 8.Main replacement/install Various Locations WF 9.Foothill Res. repairs WF lO.Utt/Green Valley main replacement WF 11.Rawlings Res. repair WF Total Water $4,000 $4,000 6,000 6,000 22,000 22,000 42,500 42,500 75,000 75,000 400,000 400,000 807,445 584,846 32,500 32,000 222,599 35,500 35,500 216,200 216,200 $1,641,145 $896,546 $744,099 Tot Cap. I~. ALL City Funds $30,019,406 $5,227,772 $25,017,905 ASSESSMENT DIST 85-1 60. TRANSPORTATION FACILITIES: 1.Tustin Ranch RD Bt Bryan/Irvine $1,102,698 2.New Myford BT EL Camino/lrvine 323,665 3.S. 1/2 Irvine-Browning to Myfor 1,033,256 4.Jan~oree from I-5 to Irvine 411,432 5.Et Camino-Auto ctr to Myford 598,306 6.Bryan from Browning to Myford 778,207 7.Browning from Bryan to 1300 N. 54,116 8.Tustin Rch. Rd/I-5 Interchange 11,870,698 9.Bryan Ave. bridge 26,143 lO.El Camino '321,989 11.Browning & Bryan 3,679 $7,500 8,000 500,000 715,000 400,000 250,000 25,000 35,000 500,000 $1,095,198 $315,665 $533,256 ($303.568) $198,306 $528,207 $29,116 $11,835,698 $26,143 '($178,011) $3,679 $16,524,189 $2,440,500 $14,083,689 PAGE 4 FUND 65. TRAFFIC CONTROL FACILITIES: 1.Signal InstaLL-various tocVs 70.'FLO00 CONTROL FACILITIES= 1.Et Modena-Irvine Channel 2.Drainage & fLood controL 1988-89 BAL. TO BE 1988-89 ESTIMATED CARRIED TO BUDGET EXPENSE 1989-90 $1,505,856 $1,000,000 $505,856 $1,505,856 $1,000,000 $505,856 $2,214,065 $10,000 $2,204,065 360,009 360,009 $2,574,074 $10,000 $2,564,074 Total AD 85-1 $20,604,119 $3,450,500 $17,153,619 ASSESSMENT DIST 86-2 60. TRANSPORTATION FACILITIES: 1.Jamboree-Irvine to Santiago 2.Tust!n Rch Rd interchange 3.Tustin Rch Rd-Irv. to Jam. 4.Portota Pkwy 5.Irvine Btvd Nrth 1/2 6.La Colina 7.Regional Trail 65. TRAFFIC CONTROL FACILITIES: 1.Signal InstaLL-Various Loc~s 70. FLOOD CONTROL FACILITIES 1.Peters Canyon drainage. $30,902,177 $9,000,000 $21,902,177 4,875,251 3,365,000 1,510,251 6,T52,396 5,000,000' -1,732,396 564,146 5,000 559,146 1,376,180 400,000 976,180 475,730 10,000 465,730 679,770 679,770 $45,605,650 $17,780,000 $27,825,650 $2,341,320 $250,000 $2,091,320 $2,341,320 $250,000 $2,091,320 $7,410,948 $2,000,000 $5,410,948 $7,410,948 $2,000,000 $5,410,948 Total AD 86-2 $55,357,918 $20,030,000 $35,327,918 GRAND TOT. ALL CAP. IMP.$105,981,443 $28,708,272 $77,499,442 PAGE 5 LEGEND: GF-Genera[ Fund GT-Gas Tax B-Beautification FAU-Federa[ Aid Urban Highways [RV- City of [rvine TIC-The [rvine Co. AHFP-A[ternate Highway Fund. Prog. OCUTT-Orange Co. Urban Transportation T SA-City of Santa Aha HCDA-Housing Con~Jnity Deve[opement Act WF-Water Fund TC-Town Center Project Area SC-South Central Project Area Inter- Corn DATE: M~RCH 20, 1989 ~ TO= HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: WILLIAM A. HUSTON, CITY MANAGER SUBJECT: MID-YEAR BUDGET REVIEW Due to time constraints, subject report could not be included in the agenda packet and will be delivered separately to the City Council.