AgdaPkt 2014-01-13 Interview, Closed and Regular

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7.1.G. - Page 43 Management's Discussion and Analysis For the year ended June 30, 2013 Fire Services fees were below budget due to a delay in the invoicing of fire inspection fees and less revenue related to a shared service contract with the City of San Carlos due to an unused contingency for services that were not provided. Parks and recreation fees were below budget but adequately covered the fee based programs for which customers are charged. Other revenue was greater than budget by $0.4 million due the receipt of unplanned reimbursement of prior year property tax administrative fees along with reimbursement for services provided in conjunction with bond refunding for two of the community facilities districts. Expenditures, overall, were $0.65 million greater than budgeted primarily due to unbudgeted payments associated with employee separations and paid public safety overtime exceeding budget, in addition to unbudgeted expenditures related to the activities of parks and recreation. CAPITAL ASSETS AND DEBT ADMINISTRATION Capital Assets - At the end of FY 2012/13, the City had $377.5 million, net of depreciation, invested in a broad range of capital assets used in governmental and business -type activities, as shown in the table below. Additional information on the City's capital assets can be found in Note 4 and Note 16 of this report. Capital Assets at Year -end (in Millions) Governmental Business -Type Activities Activities Total 2013 2012 2013 2012 2013 2012 Variance $ $ $ $ $ $ Land 30.978 30.978 3.448 3.448 34.426 34.426 0.000% Streets 109.082 108.262 109.082 108.262 0.757% Construction in progress 20.252 12.327 14.890 9.212 35.142 21.539 63.155% Buildings 83.309 83.181 61.213 60.296 144.522 143.477 0.728% Equipment 20.964 20.838 1.645 1.632 22.609 22.470 0.619% Improvements 4.118 2.572 162.028 154.047 166.146 156.619 6.083% Harbor improvements 4.045 4.202 4.045 4.202 - 3.736% Parks, bridges, etc. 29.184 29.184 29.184 29.184 0.000% Traffic signals 2.607 2.607 2.607 2.607 0.000% Storm drains 7.326 7.326 7.326 7.326 0.000% Less accumulated depreciation (114.270) (105.881) (63.280) (57.835) (177.550) (163.716) 8.450% Total capital assets 193.550 191.394 183.989 175.002 377.539 366.396 3.041% Governmental Activities The 64.3% increase in Construction in Progress is driven by the current project activity related to transportation and storm projects, along with construction of a grant funded fire boat. Streets increased primarily due to completion of street improvements related to Kentfield and Main Streets. Building increased due to fire station improvements. Improvements increased due to completion of the Redwood Creek wall and the Shannon Park boat ramp. Equipment increased primarily due to the purchase of information technology data storage and backup equipment. 15