18 Mid Year Budget
City Hall
10300 Torre Avenue
Cupertino, CA 95014-3255
Telephone: (408) 777-3220
FAX: (408) 777-3366
CITY OF
CUPEIQINO
ADMINISTRATIVE SERVICES DEPARTMENT
SUMMARY
Agenda Item No. /8
Meeting Date: November 6, 2006
SUBJECT AND ISSUE
Approve mid-year budget adjustments for fiscal year 2006/07.
BACKGROUND
During the year staff reviews the budget and compares it to actual revenues and expenditures. As a
result of this review process, mid-year budget adjustments are brought back to the City Council to
adjust our original budget projections and reflect the current status of operating and capital project
accounts.
The General Fund is forecasted to end fiscal year 2006/07 with $1.78 million more in revenues than
the adopted budget, led by the recent passage of the Tax Equity Allocation legislation which will
bring in a minimum $1.6 million more in ongoing property taxes. Staff recommends using part of
the windfall to fund additional law enforcement coverage, toward capital projects that were put on
hold until mid-year, and to fund technological improvements that have surfaced this year.
Accordingly, the Council is requested to authorize the following mid-year 2006/07 budget
adjustments to the General Fund:
Property Tax (TEA funding)
Sales In Lieu Fee
Construction Tax
Interest Earnings
Charges for Services-Planning
Park Dedication Fee
Re-program Community Development
Customer Service Study
Revenue Expenditure
$1,600,000
182,000
518,000
200,000
-220,000
-500,000
-75,000
/8-/
Printed on Recycled Paper
Operating Transfers Out:
Repair of Quinlan Fountain
E-services/Notification Software
E-services/ Agenda Manager Software
Community Outreach Database
Computer Network Upgrade
Fleet Vehicle for Mail Clerk/Pool Use:
>Hybrid (with $2,000 Clean Air voucher
match from BAAQMD) $25,000
>Non-hybrid $15,000
Preliminary Design of Barnhart &
Sterling Park
McClellan Ranch Facility Improvements
150,000
40,000
20,000
15,000
100,000
25,000
50,000
50,000
Total
$1,780,000
$375,000
RECOMMENDA TION
It is recommended that the City Council approve the mid-year 2006/07 budget adjustments as
described above.
Submitted by:
~.
Approved for submission:
David R. Woo
Finance Director
~
David W. Knapp
City Manager
Reviewed by:
/t ." Ii (1 //I J. /j
.. "-..ft-~J .' {.( ( .-t' Tl tJ?'''lJ <<
Carol A. Atwood
Director of Administrative Services
18..2
City of Cupertino
General Fund Budget Report
September 30, 2006
Taxes:
Sales Tax
Property Tax
Transient Occupancy
{jtility Tax
Franchise Fees
Other Taxes
Licenses and Pennits
USe:: of Money & Property
Intergovernmental
Charges for Services
Fines & Forfeitures
Other Revenue
Sale of Property
Total Revenue
QPt:rating Expenditures:
Administrative
Law Enforcement
_C~J!llllunityService .
Administrative Service
Recreation Service
.C:(jJl1l!lll!:!ity Development
Public Works
Total Expenditures
Transfers In
I~l!!'fers Out - midyear
Tr.!nsfers Out - adopted
Net Gain/(Loss)
.........
C\)
I
W
Prior Year
2005/06
9,650,000 ,
4,620,000
2,100,000
2,675,000 .
2,200,000 .
1,550,000
.3,379,000
875,000 .
3,755,000
1,786,000
55Q,0<20.
116,900
2,423,000
35,670,000.
. 1,362,J9.5.
7,J77cn~L .
?1?,.~'!..4._
4,978,40Q,
2,428,298
3,8.8.5"441
9,845,280
30 594 636.
1,4(,Q,QOO,
-7,026,296
-490 932.
Current
2006/07
10,400,000
4,850,000
2,226,000
2,392,000
2,200,000
1,390,000
3,050,000
880,000
4,585,000
1,200,000
560,000
120,000
1,750,000
35,603,000
1,347,283
7,268,593
1,010,563
4,191,272
2,~69,704
3,666,814
10,325,811
30410040
1,000,000
-9,215,000
-3 022 040
Budget
Change
11/6/2006
1,600,000
700,000
200,000
-220,000
2.280.000
Amended
2006/07
10,400,000
6,450,000,
2,22_6,000
2,392,000
2,200,000
2,090,000
3,050,000_.__
I,O~O,OOO..
4,585,000; I
9i6:Ooo~n.
- .----- --+--- - ~---
.560,000
120,9QQ~.~.
1,750,000
37883000: -1_
9/30/2005
2,573,343,
39,247
40 I ,307,
311,218
109,Q28
356,382,
1,18.4,361
n24?,l 50_
147,638.
735,068
57~711
66,393
o
6230846,
---r-----;-
. .._~J_.
J,?47,28.3 L I 264,663.
_.. Z ,2(,~,523 ~ 1,668,007
.. _J...Q4Q,5.61L.____ 194,647:
4,191,272' 1,~J5,107
2,5~9,.z04~-~==. .565,1(,6,
-75,000 _ _~2~.~&.!~+..L_. 6J3,362
10,325,811!; 2,065,938
-75000. .30335.040; _.1_ 6727190'
-500,000 500,000. 400,002
-450,000 ~__ _._.l~():'09.QI=._==-
-9,215,0001 I -1,279,5001
_n .~._ .....--t--..,n...n---... uun.,.
\,405.000 -I 167 040~_ ~ -L375.842.
I
Actual
9/30/2006
1,855,642
26,554
491,827
344,961
111,197
1,021,616,
965,230,
325,774
351,549,
394,928
51,754,
42,651
o
5 983.683
280,439.
1,735,574.
201,701.
983,~11.
599,859
617,264
2,006,707
6425.255
250,000 _
-2,303,748
-2 495.320
Anal sis of Trends
May-Aug 06 receipts down $500k from last year, no budget change yet
TEA
. $822k in construction lilxes already received
. Higher yields
Trend down from'last year
--.... ....-. -. ---
. Nov 20Q? electiol1costs~n_pr!()r ~ear
, Re-program c.tlst(j1l1e':.s~.~cestudy
No transfer of park in-lieu fees _ . . __
n E-services/ne~~()r~ up~de ($~~5K);flet:t vehic1e(~2.5Kt~Cg>{!250K)