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ATTACHMENT 1 <br /> 7.1.G. - Page 5 <br /> Of the total $9.4 million utility users' tax revenue, $4.3 million was communication users' <br /> tax. By Council direction utility users' tax is used to pay debt service ($1.8 million) on <br /> Public Financing Authority bonds, with the remaining balance transferred to the capital <br /> outlay fund for the City's general capital improvement program. <br /> In FY 2012/13 there were no exemptions granted for communication users' tax. <br /> Expenditures <br /> Budgeted Actual Expenditures & <br /> Expenditures Encumbrances Variance -$- Variance - %- <br /> $80,759,755 $81,898,607 ($1,138,852) (1.4 %) <br /> General Fund Expenditure Comparison (FY 2011/12 to FY 2012/13) <br /> FY 2011/12 FY 2012/13 <br /> Actual Expenditures Actual Expenditures & Change -$- Change - %- <br /> & Encumbrances Encumbrances <br /> $80,538,539 $81,898,607 $1,360,068 1.7% <br /> Total general fund expenditures, including outstanding encumbrances, for FY 2012/13 <br /> were $81.9 million. This was $1.4 million or 1.7% more than the amount expended and <br /> encumbered in FY 2011/12, and $1.1 million, or 1.4% above the adopted budget. <br /> Expenditures were greater than budgeted primarily due to unbudgeted payments <br /> associated with employee separations and paid public safety overtime exceeding <br /> budget, in addition to unbudgeted expenditures related to the activities of parks and <br /> recreation. <br /> Employee costs continue to represent the highest single source of expenditures <br /> accounting for 76% of all general fund expenditures in FY 2012/13. <br /> In FY 2012/13 the general fund, through a mid -year budget amendment, repaid the $1.3 <br /> million loan from the employee benefits fund, which covered the FY 2011/12 firefighter <br /> exit incentive program. <br /> Transfers <br /> Each year funds are transferred out of the general fund to support the traffic safety fund. <br /> In FY 2012/13 $1.1 million was transferred to the traffic safety fund. Also, an amount <br /> equal to the utility users' tax and communication users' tax revenue less the Public <br /> Financing Authority bond payment is transferred to the capital outlay fund. This transfer <br /> amounted to $7.6 million in FY 2012/13. Additionally, the general fund transferred <br /> $100,000 to the self insurance fund to cover increased workers' compensation costs. <br /> Fund Balance <br /> When the general fund budget was adopted on June 25, 2012, it was anticipated that <br /> $0.6 million of the $17.2 million in general fund reserves (unassigned fund balance) as <br /> of July 1, 2012 would be consumed in FY 2012/13. Due to the favorable revenue <br />