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Expenditures <br />Budgeted Actual Expenditures & <br />Expenditures Encumbrances <br />$103,212,301 $101,683,939 <br />ATTACHMENT <br />6.1.D. - Page 5 <br />Variance -$- Variance -%- <br />$1,528,362 1.5% <br />General Fund Expenditure Comparison (FY 2014-15 to FY 2015-16) <br />FY 2014-15 FY 2015-16 <br />Actual Expenditures Actual Expenditures & Change-$- Change -%- <br />& Encumbrances Encumbrances <br />$96,436,649 $101,683,939 $5,247,290 5.4% <br />Total general fund expenditures, including outstanding encumbrances, for FY 2015-16 <br />were $101.7 million. This was $5.2 million or 5.4% more than the amount expended <br />and encumbered in FY 2014-15, and $1.5 million, or 1.5% less than the adopted <br />budget. <br />Expenditures were less than budgeted primarily due to savings in various programs, <br />including City Manager, City Attorney, economic development, and law enforcement. <br />Expenditures in FY 2015-16 were $5.2 million greater than FY 2014-15 primarily due to <br />programmatic changes. Generally speaking, most expenditure accounts increased form <br />the prior fiscal year. These increases were primarily due to increased building activity in <br />the City and planning related projects and increased costs related to litigation, <br />development, and insurance claims. A majority of the increases were related to <br />enhanced and additional programs which were offset by increased program revenues <br />and grants. Employee costs continue to represent the highest single source of <br />expenditures accounting for 73% of all general fund expenditures in FY 2015-16. <br />Transfers <br />Each year funds are transferred out of the general fund to support the traffic safety fund. <br />In FY 2015-16 $1.346 million was transferred to the traffic safety fund. The general <br />fund also transferred $32 thousand to the Redwood Shores landscape maintenance <br />fund, $67 thousand to the low and moderate income housing asset fund from AB1717 <br />UUT revenues, and $173 thousand to the water fund for salaries and benefits. Also, an <br />amount equal to the utility users' tax and communication users' tax revenue less the <br />Public Financing Authority lease payment is transferred to the capital outlay fund. This <br />transfer amounted to $8.822 million in FY 2015-16. Additionally, the general fund <br />transferred $4.0 million to the self-insurance fund to cover increased workers' <br />compensation costs, and $3.004 million to the Docktown Marina fund. <br />Fund Balance <br />As of June 30, 2016, there was $25.233 million in unassigned fund balance. This is a <br />decrease of $999 thousand from June 30, 2015. This is primarily due to the overall <br />negative change in fund balance of $167 thousand, an increase in a carryover of <br />encumbrances of $695 thousand, and an increase of $95 thousand in restricted <br />revenues related to recycled water. <br />Page 3 of 6 <br />