Laserfiche WebLink
INTERFUND TRANSFERS <br />The following matrix summarizes the inter -fund transfers included in the Revised Recommended <br />Operating & Capital Budget for 2018. <br />Inter -Fund Transfers Matrix <br />2018 Revised Recommended Budget <br />Transfers Out <br />General Fund <br />Conservation Turst - Lottery Fund <br />Cemetery Perpetual Care Fund <br />Capital Projects Fund <br />Impact Fee Fund <br />Total <br />Transfers In <br />Capital Rec Ctr <br />OS&P Cemetery Projects Const <br />Fund Fund Fund Fund <br />Total <br />808,920 a 95,770 b - 9,2.54,000 c 2,153,890 <br />- - - 459,500 c 459,500 <br />- 6,870 c+ - 6,870 <br />- - 395,900 c 395,900 <br />538,090 e 647,290 e - 9.985,300 <br />9,346,930 102,640 647,290 2,904,640 4.200.6,60 <br />• p nnu& recurring support For operations ; nci captt.at. <br />• Annual recurring support for operations Ant capita/. <br />c One-time transfer to font, !Recreation Center Project shortfall <br />▪ Annual recurring trensfer of interest eernec+ asst+ to fano operations eno cepi tel. <br />e <br />Annual transfer of impact fee revenue For projects ettgtbte For this type of !uncitng. <br />Transfers to Support the Open Space & Parks Fund <br />As discussed throughout the 2018 budget process, the Open Space & Parks Fund will need to rely on <br />new revenue sources or continuing transfers from other funds in order to fund its ongoing operations <br />and capital improvement plan. Per Council's directive, staff has calculated an annual recurring transfer <br />from the General Fund to the Open Space & Parks Fund using the following formula: <br />The 2007 amount funded by the General Fund for Parks Administration & Operations <br />inflated to 2018 using the Consumer Price Index (CPI), All Urban Consumers, Not <br />Seasonally Adjusted, for the Denver, Boulder, and Greeley area. <br />Council further directed that this transfer should begin in 2018. As shown in the preceding Interfund <br />Transfers Matrix, the 2018 Operating & Capital Budget includes an $808,120 transfer from the General <br />Fund to the Open Space & Parks Fund. This transfer will be recalculated every year and will keep the <br />Open Space & Parks Fund reserves in compliance with the adopted policy on minimum fund balance. <br />A new policy on targeted fund balance will be discussed at a later date. <br />FISCAL IMPACT <br />The following table summarizes the projected fiscal impact of the 2018 Operating & Capital Budget on <br />each fund. Note that the General Fund expenditures include a 3.5% "turnback" adjustment and, <br />therefore, are less than the total appropriation for the General Fund. <br />8 <br />