|
EXHIBIT B |
|
BACK |
|
|
|
|
|
|
Reserves and Designations- Increases, Cancellations and
Existing Reserves |
|
|
|
Being submitted as part of the Proposed Budget for FY 08/09 |
|
|
|
| |
Set Reserves in: |
Reserve Amounts
Proposed or existing |
Note |
|
APPROVE INCREASES TO RESERVES AND CONFIRM EXISTING RESERVES |
|
|
|
|
|
|
|
|
1.Set the following reserves using LAIF funds as of June 30,
2008; this group is not included in Proposed Budget; see
next page for LAIF balances and needed
Transfers In and Out Budget Adjustment |
|
|
|
|
|
|
|
|
|
Contingency Reserve in Admin |
100-Admin |
100,000 |
|
|
Capital Outlay Reserve- Building Upgrades |
301- Fire |
105,000 |
|
|
Capital Outlay Reserve for Pump Replacement |
500-Water |
10,000 |
|
|
Capital Outlay Reserve for Pumps |
400- Vista de Oro |
5,000 |
|
|
Capital Outlay Reserve- System Upgrade |
500- Water |
150,000 |
|
|
Capital Outlay Reserve for Pump Replacement |
800-Drainage |
30,000 |
|
|
Capital Outlay Reserve - Pool |
900-Parks and Rec |
289,501 |
|
|
Total Reserves funded by existing LAIF funds |
|
689,501 |
|
|
Next page shows Unrestricted/Unreserved LAIF fund balance
of $193,867.51 out of total LAIF balance of $885,599.91. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2. Increases to Reserves as funded in the 08/09 Proposed
Budget, funded by general resources |
|
|
|
|
|
|
|
|
|
Fire Vehicle Replacement Reserve |
301- Fire |
72,000 |
|
|
Debt Service Reserve- I-Bank Loan (from pledged revenues +
interest, if any) |
500- Water |
280,522 |
|
|
Debt Service Reserve- 02 Bond (repayment plan) |
600- Wastewater |
25,000 |
|
|
Reserve for Contingency (Franchise back-up) |
650- Solid Waste |
25,000 |
|
|
Total Increases to Reserves funded by general resources |
|
402,522 |
|
|
3. Increases to Reserves or Restricted funds that are funded
in 08/09 Proposed Budget funded by specific accruing
revenues; this means that actual increases will be dependent
on the actual amounts of those revenues |
|
|
|
|
Debt Service Reserve- '02 Bond -From interest accruing on
funds with US Bank and BNY |
600- Wastewater |
25,000 |
|
|
Wastewater Trust funds -From interest accruing on frozen
funds with Rabobank. |
600-Wastewater |
75,000 |
|
|
Pool Funds ( from Laif Funds) |
900-Parks and Rec |
12,000 |
|
|
Total Increases to Reserves funded by interest or investment
income accruing on funds |
|
112,000 |
|
|
|
|
|
|
|
|
|
|
|
4. Set balance of funds in cash account 1003 as Reserve;
this has been used as Reserves starting in FY 06/07 but have
not been formally recorded in the books. This balance is
after reduction of $15,500 to fund the cost of rental of
fence around the Tri-W property for 08/09.
This was funded in FY 06/07 . |
|
|
|
|
Designation for Tri-W property costs |
600- Wastewater |
9,739 |
1 |
|
|
|
|
|
|
TOTAL INCREASE |
|
1,213,762
|
|
|
|
|
|
|
|
CONFIRM EXISTING RESERVES and ALSO DESIGNATE ACCRUING
INTEREST AS INCREASES TO THE RESERVES |
|
|
|
|
|
|
|
|
|
Fire Vehicle Replacement Reserve |
301- Fire |
276,585 |
|
|
Designation of Public Facility Fees (net of cancellation of
$6,000 for St Light interrupter) |
301-Fire |
40,812 |
|
|
|
|
317,397 |
|
|
TOTAL RESERVES ( net of cancellations below) |
|
1,531,159 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
APPROVE CANCELLATION TO RESERVES ( shown in 08-09 budget ) |
|
|
|
|
Designation of Public Facility fees - cancellation to fund
installation of light interrupter |
301- Fire |
(6,000) |
|
|
Reserve for I-Bank Debt Service set up to fund 08-09
installment, actual cancellation to occurr as payments are
made. |
500-Water |
(244,780) |
|
|
Funds appropriated for Tri-W fence rental comes from cash
accounts that existed in FY 06/07 |
600-Wastewater |
(15,500) |
1 |
|
TOTAL CANCELLATION BY FUND |
|
(266,280) |
|
|
|
|
|
|
|
Note 1. These were added after the W/FAC meeting. Funds are
being used as Reserves but never formally recorded. It is
not known if these were previously set by the Board. |
|
|
|
