HomeMy WebLinkAbout02-19-2013 B1 Padillaa-A ..council. mEmor2and
City of San fins OBISPO, finance ana Lt. depaiAment
DATE: February 15, 2013
TO: Mayor & Council Members
VIA: Katie Lichtig, City Manager
FROM: Wayne Padilla, Interim Finance Director
RECEI
FEB 16 2013
CITY CLERK
AGENDA
CORRESPONDENCE
Date � 13 Item #_
SUBJECT: 2 "d Supplemental Schedule for the Agenda item on the mid -year financial
update
Just after the Mid -Year Budget Update document went to press, I discovered a needed correction
for the Transit Fund's Change in Financial Position Worksheet which can be found at page B -45.
The correction affects the working capital that is reported at the end of 2011 -12 which is reported
as $6,183,700. The correct amount is $1,079,973. The incorrect amount was derived from the
unintentional pairing of the Parking Fund's current assets and the Transit Fund's current
liabilities when the original document was being prepared.
I apologize for any inconvenience this may have caused.
Please feel free to contact me with any questions you may have by calling me at 781 -7125 or by
e -mail at wpodilla�'c�slocity.org.
TRANSIT FUND
2011 -12 2012 -13
Original Revised
Actual Budget Projection Variance*
Revenues
Investment and Property Revenues
24,150
5,700
5,700
Subventions and Grants
2,616,974
2,855,700
2,989,296
(133,596)
TDA Revenues
1,177,462
1,416,900
1,618,738
201,838
Other Grants
620,630
3,272,600
539,749
539,749
FTA Grants
1,419,675
1,274,600
1,757,850
483,250
Service Charges
626,458
637,700
618,600
(19,100)
Other Revenues
35,949
5,000
5,000
Total Revenues
3,904,324
3,339,900
4,545,637
1,205,737
Expenditures
Operating Programs
Transportation
2,616,974
2,855,700
2,989,296
(133,596)
General Government
476,500
416,900
416.900
Total Operating Programs
3,093,474
3,272,600
3,406,196
(133,596)
Capital Improvement Plan Projects
826,335
1,002,807
(1,002,807
Total Expenditures
3,919,809
3,272,600
4,409,003
(1,136,403)
Other Sources (Uses)
Expenditure Savings
Other Sources
(73,888)
Potential MOA Adjustments
Total Other Sources (Uses)
(73,888)
Revenues and Other Sources Over (Under)
Expenditures and Other Uses
(89,373)
67,300
136,634
(69,334)
Working Capital, Beginning of Year
1,079,973
1,095,200
990,600
(104,600)
Working Capital, End of Year
$990,600
$1,162,500
$1,127,234
($35,266)
* See page B -48 for explanation. B -45