HomeMy WebLinkAbout6/4/2019 Item 15, Elke
Council Agenda Correspondence
City of San Luis Obispo, Council Memorandum
Date: June 4, 2019
TO:City Council
FROM: Brigitte Elke, Finance Director
VIA:Derek Johnson, City Manager DJ
SUBJECT:Agenda Item #14–Clarification of CIP Expenditures and Correction of Sewer
Fund Expenditures for the Financial Plan period of 2019-21
Staff submitsthis memo to:
1.Provide clarification regarding the capital improvement program (CIP) investment during
the 2019-21 Financial Plan and the project expenditures shown in the CIP section; and
2.Provide the correct expenditures for the Sewer Fund for 2019-20 and 2020-21as outlined
in the Business Activities Section of the preliminary Financial Plan.
1.CIP
The discrepancy of $130,000 between packet page 107 and packet page 305 stems from the
variance between project appropriation versus anticipated project expenditure that balances
over the five-year term of the CIP. The first year of the Financial Plan anticipates the receipt
of SB1090 funding that is proposed to be appropriated to the Infrastructure Investment Fund
in 2019-20. However, not the full amount of $1,720,000 will be used in the first year of the
Financial Plan.
2.Sewer Fund Expenditures
Staff realized thatthe Council Agenda report included the 2020-21 and 2021-20 expenditure
forecast for the Sewer Fund. Below are the proposed budget appropriations for the 2019-20
and 2020-21 fiscal yearsincluding the Sewer Fund as outlined in the business activities
section.
Fund2019-202020-21
General Fund$75,550,000$75,412,000
Water Fund$ 33,110,000$32,849,000
Sewer Fund$ 79,704,000$ 60,388,000
Parking Fund$ 5,376,000$ 34,001,000
Transit Fund$ 4,049,000$ 4,113,000
Tourism Assessment$ 1,533,000$ 1,552,000
Downtown Assessment$ 260,000$ 260,000
Total Appropriation$199,582,000$208,575,000