1993 CC ADJ MIN FEB 23 - Laserfiche WebLink

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interjected that last year $500,000 was set aside for unforseen emergencies such as a major earthquake, fled or the closing of a major More such asWal-Mart or Price Club. The contingency fund would allow the City to continue operations until an alternate plan could be put in place. City Manager Lewis said it is sound fiscal practice to have the City set aside 5% of a total budget. It is a goal for fiscal year 1993- 94 .993 °94 to build the reserve up to 1 million dollars for unforeseen contingencies. He said the estimated fund balance for June 30, 1993 is estimated at $345,160. Continuing with his report on general, special revenue, debt service and capital projects, Mr. Acevedo, said the Special Revenue does show a. deficit of $110, 000.. due to the start up costs of the Community Child Care. Other revenue funds are in good condition. The Debt Service Fund are all funded or there are resources for them. The Capital Project from is primarily RDA Funds. This statement represented both the RDA and. the City's General Operations. Within the Capital Funds there are monies from Traffic Impact Fees and Sewer and Water Impact Fees, most of which, have been earmarked for certain projects. The Enterprise Funds consisted of Electric utility, Water, Sewer, Refuse and. Cemetery. The Electric Utility is in very good, financial condition, the Sewer and Water Funds are dependent on the user fees. The internal Service Funds ,show the resources available for any major lawsuits the City may encounter. There is $859,000, along with, liability pool coverage through Independent Cities Risk Management Association (ICRMA). The Fiduciary Funds include Deferred Income for employees, .Asset Seizure and other funds which have not been earned but are received through the Building permit process and lastly there are the Account Croups with the fixed and long term debt. The detail for all of the funds are contained in the full Mid -'Year Report. Councilmember Rios inquired about prior gear's purchase orders. Director Acevedo replied that for the general fund there is no real cut- off but there is a deadline- however, what i. s not paid. with this year's budget must be requested for the following year. There is a $200,000 reduction from last year. Counci.lmem.ber Rios particularly asked about the money budgeted for two refuse trucks which. have not been purchased though previously approved by City Council. City Manager Lewis clarified that money in the budget dues not roll over and an item must be re --appropriated for the next fiscal year. City Manager Lewis explained that with the enterprise it was necessary to maintain a balance between expenditures and revenue so as not to end with a negative. Counci.lmember Rios suggested lease with option to buy as there was great need for the refuse trucks. Providing a brief synopsis of the following departments, City Manager Lewis introduced each department head for a brief presentation, question/answer period and budget requests, if applicable: 3 B 2