AgdaPkt 2014-01-13 Interview, Closed and Regular

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7.1.G. - Page 41 Management's Discussion and Analysis For the year ended June 30, 2013 Planning services revenues decreased $1.5 million due to a decrease in fees related to the Saltworks project in addition to the creation of a new special revenue fund, planning cost recovery fund, to account for reimbursed planning contracts. General fund expenditures increased $1.2 million over the prior fiscal year. The increase partially resulted from new programs related to economic development and organizational efficiencies. Additionally, there was an increase in public safety expenditures related to a reorganization of the police department and payout of accumulated leave balances to retiring police department employees offset by a reduction in the fire department, which experienced higher costs in the previous fiscal year related to employee retirements. General fund expenditures also increased due to a payment to the employee benefits internal service fund to reimburse the fund for prior year fire employee retirement costs, and an increase in lease payments related to the refunding of the Public Financing Authority 2003 Refunding Bonds. These increases were offset by a decrease in planning expenditures as reimbursed planning activities were moved to a new special revenue fund. Transfers out of the general fund decreased $4.1 million in FY 2012/13 due to the $3.3 million transfer of land held for redevelopment to the low and moderate income housing asset fund in the prior year, along with a reduction in the transfer out to the capital outlay fund. Housing Legal Aid Society Fund — This fund accounts for revenues previously deposited in the former redevelopment agency low and moderate income housing fund pursuant to an agreement with the Legal Aid Society to set aside general tax increment revenue for housing purposes. After the February 1, 2012 dissolution of the redevelopment agency, this fund was created to account for this accumulated balance. At June 30, 2013, a $10.3 million liability is reflected as due to other governmental agencies as the City and Legal Aid Society have sued the State of California over the City's right to retain this money for housing purposes. Capital Outlay Fund - This fund accounts for resources provided to finance general governmental capital projects. In FY 2012/13, the capital outlay fund generated $1.2 million in revenue, most of which was from a FEMA grant to purchase a fire boat. This fund was also the recipient of $7.6 million of transfers from the general fund. Total outlays were $10.2 million of which $6.2 million met with City's criteria for capitalization. The balance ($4 million) was expended in FY 2012/13. Total outlays in the prior year (FY 2011/12) were $5.6 million. Of the capital outlay fund's $22.8 million fund balance, $16.3 million was committed, and $6.4 million was assigned. Proprietary Funds Enterprise fund net position totaled $194 million at the end of the fiscal year, an increase of $11.4 million over the prior year balance of $182.6 million. Enterprise operating revenues were $68.7 million this year, an increase of $8.1 million over last year, while net non - operating revenues (expenses) were ($4.2) million compared to $0.2 million the prior year. Net non - operating revenues (expenses) experienced a $4.4 million reduction due to the decrease in grant revenue of $1.8 million and the decrease in investment in sewer authority. 13