Long-Range CIP Planning Attachment 1 - 15 Year Fund Balance Analysis 15-Year Forecasts and Funding Options
FY 2024-2025 through FY 2038-2039 City Capital Investment Funding Funding Strategy
15-Year Fund Balance Analysis
Fund Balance Analysis - 15-Year Forecast (FYE 6/30) Total 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 Cash Flow Beginning Fund Balance (1) 12,852,735 14,174,931 9,849,181 6,593,431 4,062,681 6,778,931 5,172,931 2,252,331 5,428,331 3,408,531 5,331,531 9,192,331 12,092,331 14,344,331 17,844,331 12,852,735 Less: Capital Improvement Expenditures from 15-Year Forecast(13,564,804) (11,392,000) (9,550,000) (8,710,000) (5,725,000) (8,291,000) (8,920,600) (640,000) (6,294,800) (1,827,000) (679,200) (600,000) (2,218,000) (200,000) (90,000) (78,702,404) Add: Funding Available from Other Non-General Fund Sources Park in Lieu Fees (2) 745,000 - - - 2,050,000 - - - - - - - - - - 2,795,000 Reimbursements from Youth Sports Groups (3) 44,250 44,250 44,250 44,250 31,250 - - - - - - - - - - 208,250 Park Facilities Impact Fees (4) 594,000 467,000 - - - - - - - - - - - - - 1,061,000 Transportation Impact Fees (5) - 325,000 500,000 - - - - - - - - - - - - 825,000 Use of repurposed CIP Fund Balance for Recreation Center project5,407,250 - - - - - - - - - - - - - - 5,407,250 Gilead Foundation Grant for Recreation Center project 500,000 - - - - - - - - - - - - - - 500,000 Equipment Replacement Fund (6) - 480,000 - 385,000 110,000 435,000 - 290,000 425,000 200,000 360,000 - - - - 2,685,000 Building Maintenance Fund (7) 1,846,500 - - - 500,000 500,000 250,000 26,000 350,000 50,000 680,000 - 970,000 200,000 90,000 5,462,500 Add: Annual Long-Term CIP Funding from City General Fund (A)10,997,000 10,997,000 10,997,000 10,997,000 10,997,000 10,997,000 10,997,000 8,747,000 8,747,000 8,747,000 8,747,000 8,747,000 8,747,000 8,747,000 8,747,000 146,955,000 Increase (Decrease) to Annual Long-Term CIP Funding from City General Fund due to Excess / Deficiency of Reserves (B)(5,247,000) (5,247,000) (5,247,000) (5,247,000) (5,247,000) (5,247,000) (5,247,000) (5,247,000) (5,247,000) (5,247,000) (5,247,000) (5,247,000) (5,247,000) (5,247,000) (5,247,000) (78,705,000) Ending Fund Balance 14,174,931 9,849,181 6,593,431 4,062,681 6,778,931 5,172,931 2,252,331 5,428,331 3,408,531 5,331,531 9,192,331 12,092,331 14,344,331 17,844,331 21,344,331 21,344,331 Less Minimum Fund Balance Requirement (8) 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 Excess Fund Balance Over Minimum Requirement 12,174,931 7,849,181 4,593,431 2,062,681 4,778,931 3,172,931 252,331 3,428,331 1,408,531 3,331,531 7,192,331 10,092,331 12,344,331 15,844,331 19,344,331 19,344,331 Net Annual Long-Term CIP Funding from City General Fund (A) - (B) 5,750,000 5,750,000 5,750,000 5,750,000 5,750,000 5,750,000 5,750,000 3,500,000 3,500,000 3,500,000 3,500,000 3,500,000 3,500,000 3,500,000 3,500,000 68,250,000 This analysis projects fund balance levels over the 15-year period to determine:
(A) - That there are sufficient funds to meet cash flow requirements in future years (B) - The extent to which excess cash is being reserved FOOTNOTES:
(1) - Beginning Fund Balance excludes the $5 million Levee project contingency and the $500,000 Gilead Foundation grant. In January 2024, the City Council provided direction to designate both the $5 million and $500,000 as additional funding resources for the Recreation Center project
(4) - Use of Park Facilities Impact Fees Fund Balance
(5) - Use of Transportation Impact Fees Fund Balance
(2) - Use of Park-In-Lieu Fund Balance
(3) - The Parks and Recreation Department anticipates payments over the next 5 years will be forthcoming from Youth Sports Groups for reimbursement of the Sea Cloud Synthetic Turf Fields (CIP 301-659).
(6) - Funding for various Parks projects include parks/playground equipment funded from the Equipment Replacement Internal Service Fund. (7) - Funding for Building Maintenance projects is from the Building Maintenance Internal Service Fund. In FY 18/19, the City Council approved a transfer of $2,716,614 of FY 2017- 2018 General Fund Rollover Surplus and $150,923 each from the Water and Wastewater Enterprise Fund Balances for their apportioned share of citywide building maintenance charges.
(8) - Per City Council Policy, the minimum fund balance in the City CIP fund is $2 million.
Q:\PubWorks\BUDGET\Budget 2024-2025\CIP\2024-03-25 Long Term CIP\General Fund Long-Term CIP\CIP 15yr forecast CITY Attachments 2024.03.09