Infrastructure
Advisory Fund
Report FY
2021/22
June 6, 2023
BACKGROUND
• Prior to 2015, the Public Works Commission acted in
the role of the Citizen’s Infrastructure Advisory Board to review and approve the Infrastructure Fund Report.
In 2015, the CIAB and its duties were separated out,
only to be combined again as of January 2022.
BACKGROUND
• The Infrastructure Fund was established in 2002, by
City Charter Section 617. Per Section 617 (a), the
originally intended revenue source for the
Infrastructure Fund was a planned utility use tax on
natural gas purchased to generate electricity.
However, this ballot measure failed. So, while the
Charter amendment created the fund, it was left with
no source of revenue.
NEED/WHY/BENEFITS
• Charter requirements related to the fund are:
•Revenue placed in the Infrastructure Fund shall not
supplant existing infrastructure funding.
•General Fund expenditures for infrastructure
improvements and maintenance, subsequent to 2001, shall not be reduced below 15% of general fund revenues based on a five-year rolling average.
•The Citizen’s Infrastructure Advisory Board/Public Works Commission conducts an annual review and performance
audit of the Infrastructure Fund and reports its findings to the City Council prior to the City Council's adoption of the ensuing fiscal year budget.
NEED/WHY/BENEFITS
• The single substantial revenue source to the fund
is General Fund excess fund balance per the
Financial Policy adopted in Fiscal Year 2006/07.
The Policy was revised beginning in Fiscal Year
2009/10 to allow for an Economic Uncertainties
Reserve commitment. Excerpts addressing the
Infrastructure Fund for the previous and current
policies are shown in Attachment 1 of the find
report along with Municipal Charter Section 617.
DETAILS
• This report covers fiscal year July 1, 2021-June 30,
2022
Fund Balance July 1, 2021 $17,064,423
Revenue FY 2021/22 $14,301,238
Expenditures FY 2021/22 ($10,881,530)
Fund Balance July 1, 2022 $20,484,131
Budgeted Revenue FY 2022/23 $24,290,000
Budgeted Expenditures FY 2022/23 ($44,567,322)
Budgetary Fund Balance July 1, 2023 $206,809
RECOMMENDATION
• Approve the Infrastructure Fund Annual Report for
Fiscal Year 2021/22
Questions?