Finance Committee Agenda and Packet 2012 04 16

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Microsoft Word - Agenda - 120416.docx City of Louisville, Colorado Finance Department 749 Main Street Louisville CO 80027 (303) 335-4505 (phone) (303) 335-4506 (fax) www.ci.louisville.co.us City Council Finance Committee Meeting Agenda Monday, April 16, 2012 City Hall – City Manager’s Office 749 Main Street 7:30 a.m. I. Call to Order II. Roll Call III. Approval of Agenda IV. Approval of the Minutes from the March 19, 2012 Meeting V. Public Comments on Items Not on the Agenda VI. Update from Jim Manire, BLX Group, LLC, City Financial Advisor VII. Preliminary Draft of Budget Amendment Scheduled for May 1, 2012 VIII. Sales Tax Report for the Month Ended February 29, 2012 IX. Financial Statements for the Period Ended March 31, 2012 X. Cash & Investment Report as of March 31, 2012 XI. List of Bills Scheduled for Council Approval on April 17, 2012 XII. Discussion Items for Next Meeting (Tentatively Scheduled for May 14, 2012) XIII. Adjourn E-Mail Distribution List: Robert Muckle Malcolm Fleming Jay Keany Heather Balser Ronald Sackett Kevin Watson Hank Dalton Penney Bolte Frost Yarnell Barb Kelley Susan Loo Meredyth Muth Emily Jasiak Polly Boyd Rita Glova 1 City of Louisville City Council 749 Main Street Louisville CO 80027 303.335.4533 (phone) 303.335.4550 (fax) www.ci.louisville.co.us City Council Finance Committee Meeting Minutes Tuesday, March 19, 2012 City Hall, City Manager’s Office 749 Main Street CALL TO ORDER The meeting was called to order at 7:30 a.m. ROLL CALL The following were present: City Council: Mayor Muckle, Council Member Keany, and Council Member Sackett Staff/Others Present: Malcolm Fleming, City Manager, Kevin Watson, Finance Director and Penney Bolte, Tax Manager Absent: None APPROVAL OF THE AGENDA The Committee approved the agenda as presented. APPROVAL OF THE MINUTES FROM THE FEBRUARY 20, 2012 MEETING The Committee approved the minutes from the February 20, 2012 meeting as presented. PUBLIC COMMENTS ON ITEMS NOT ON THE AGENDA None. CASH & INVESTMENT REPORT AS OF FEBRUARY 29, 2012 2 City Council Finance Committee Meeting Minutes 03/19/12 Page 2 of 4 UPDATE FROM SCOTT PRICKETT, DAVIDSON FIXED INCOME MANAGEMENT, CITY INVESTMENT ADVISOR Mr. Prickett reviewed Davidson’s analysis of the current economic outlook emphasizing labor, housing and personal consumption (PCE) inflation. Mr. Prickett also indicated that Davidson expects the Fed will increase interest rates prior to their 2014 target. In reviewing Louisville’s position, Mr. Prickett stated that Louisville remains fairly liquid at this time stating the conservative position of both Davidson and the City’s Investment Policy and that while yield is important they are hesitant to lock in to any long term (5yr) investments. The goal is to reinvest money into the market in a diversified manner to retain the short-term and long-term goals of the City. Mr. Prickett summarized the City’s performance from 4/1/10 through 12/31/11 which had an average yield of 1.61% which is well above CSAFE, Colotrust Plus, and 2Yr Agency investments over the same period. Council member Sackett asked how the City of Louisville compares with its investments to other Colorado Front Range cities. Mr. Prickett stated that Louisville is average in its investments and investment performance but is financially in a very strong position. Council member Keany asked how our investments impacted the City’s ability to respond to long-term CIP projects or sudden opportunities for land purchases. Member Keany also asked if the City needs to draw on reserves to meet standard expenses. Mr. Prickett stated that safety and liquidity are key investment elements the City has stated. Finance Director Watson stated that generally tax revenues cover monthly expenses but that there are times when investments have to be shifted. Finance Director Watson stated that the investments are done manually as opposed to standing orders so it is relatively easy to convert funds to cash when necessary. City Manager Fleming stated that the new CIP Manager position will help significantly with anticipating project delays which will in turn assist with prudent investments. Council member Keany asked how Davidson receives compensation for its services to the City. Mr. Prickett stated that Davidson receives seven (7) basis points of the invested assets. Councilor Keany stated that perhaps the City should look more seriously at paying down debt with yields being so low. Finance Director Watson stated that the City Financial Advisor, Jim Manire, would be meeting with the Finance Committee at the April 16, 2012 meeting. 3 City Council Finance Committee Meeting Minutes 03/19/12 Page 3 of 4 The corresponding narrative can be located in the packet of the March 19, 2012 Finance Committee Meeting. SALES TAX REPORTS FOR THE MONTH ENDED JANUARY 31, 2012 The Tax Manager presented the monthly sales tax reports for the period ended January 31, 2012. The reports and the corresponding narrative can be located in the packet of the March 19, 2012 Finance Committee Meeting. DRAFT ORDINANCE – SALES/USE TAX The Tax Manager presented the four different elements contained in the proposed ordinance amendment. The draft ordinance proposes expense reimbursement of staff time and travel expenses related to audit, refund and seizure expenses; firming the requirements of out-of-city deliveries eligible for exemption; amending the filing requirement for use tax returns to include the annual filing by non-retailers; and the implementation of municipal summons in tax delinquency situations prior to certification of taxes to Boulder County for collection. The Finance Committee recommended the draft ordinance be brought forward to a Council Study Session. The corresponding narrative can be located in the packet of the March 19, 2012 Finance Committee Meeting. FINANCIAL STATEMENTS FOR THE PERIOD ENDING DECEMBER 31, 2011 The Finance Director presented the Financial Statements stating that they are a good representation of where the year ended although the amounts are unaudited at present. The Finance Director stated that the Finance Committee needed to consider carryovers to the 2012 budget when reviewing any surpluses in the major operating funds. The corresponding narrative can be located in the packet of the March 19, 2012 Finance Committee Meeting. LIST OF BILLS The Committee was provided a List of Bills scheduled for approval at the March 20, 2012 Council Meeting. 4 City Council Finance Committee Meeting Minutes 03/19/12 Page 4 of 4 Council member Sackett asked about a computer loan invoice. City Manager Fleming stated that the computer loan program was offered to employees at a benefit where the City would deduct the reimbursement of the computer cost from an employee’s paycheck each pay period. Councilor Keany asked if the invoices for Sam Light and Tienken & Hill LLP are reviewed internally. City Manager Fleming indicated that he personally reviews the invoices and has communicated to City Director’s that as much as possible be handled in-house unless legal assistance is necessary. Council member Keany asked that the list of bills be provided electronically as an Excel spreadsheet instead of a PDF document so that members of the Committee could sort and group the data. DISCUSSION ITEMS FOR THE NEXT MEETING & MEETING SCHEDULE The next Finance Committee Meeting is scheduled for Monday, April 16, 2012 at 7:30 a.m. Discussion items currently scheduled for a future meeting are: • Jim Manire, BLX Group, City Financial Advisor • Sales Tax Reports for the Period Ended February 29, 2012. • Preliminary Financial Statements for the Period Ended March 31, 2012. • Cash and Investment Report as of March 31, 2012. • List of Bills ADJOURN The meeting was adjourned at 9:18 a.m. 5 COUNCIL COMMUNICATION TO: MAYOR AND CITY COUNCIL FROM: MALCOLM FLEMING CITY MANAGER DATE: APRIL 16, 2012 SUBJECT: UPDATE FROM JIM MANIRE, BLX GROUP, LLC CITY FINANCIAL ADVISOR ORIGINATING DEPARTMENT: FINANCE SUMMARY: Jim Manire, BLX Group, LLC, is scheduled to be in attendance to update the Finance Committee on the City’s outstanding bonded debt, the current state of the municipal bond market, and some possible refunding scenarios. For the Committee’s reference, attached are some of the debt schedules that are provided in the 2012 Operating & Capital Budget document. SUBJECT AGENDA ITEM UPDATE FROM FINANCIAL ADVISOR APRIL 16, 2012 6 Total Interest Principal Payments Final Outstanding Balance Outstanding Interest Principal Balance Maturity Debt Service and Financial Obligations Summary Schedule of Bonds and Notes 2012 Payments 12/31/11 12/31/11 12/31/11 Payments Payments 12/31/12 Date General Obligation Bonds 2004 Library Bonds 1,381,672 5,020,000 6,401,672 1 88,783 335,000 4,685,000 2023 Total 1,381,672 5,020,000 6,401,672 1 88,783 335,000 4,685,000 Revenue Bonds 2003 Sales Tax Refunding Revenue Bonds 45,150 855,000 900,150 29,925 420,000 435,000 2013 Total 45,150 855,000 900,150 29,925 420,000 435,000 Water Notes 1992 Colorado Water Resources & Power Development Authority 15,380 529,166 544,546 15,380 529,166 -2012 2003 Colorado Water Resources & Power Development Authority 2,715,456 9,500,000 12,215,456 344,119 595,000 8,905,000 2024 Total 2,730,836 10,029,166 12,760,002 359,499 1,124,166 8,905,000 Assessments & Leases Superior Metro District #1 & Northern Colorado Water Conservancy District 119,494 631,563 751,056 33,606 90,438 541,125 2017 City of Greeley, Colorado Lease Payable 59,752 315,781 375,533 16,803 45,219 270,563 2017 Total 179,246 947,344 1,126,589 50,409 135,656 811,688 Total Debt Obligations 4,336,904 16,851,510 21,188,414 628,615 2,014,822 14,836,688 7 Debt Service and Financial Obligations Description of Bonds and Notes Limited Tax General Obligation Library Bonds Series 2004 On January 21, 2004, the City issued Limited Tax General Obligation Library Bonds Series 2004 in the amount of $7,405,000 at 2.0% to 4.25% to finance the construction of a new Library. The bonds are limited tax general obligation bonds of the City payable from the Limited Tax Levy levied on the taxable property located within the City and other available City funds. The current levy rate is 1.526 mills, not to exceed 1.581 mills Year Interest Amount Principal Amount Total Payment Principal Balance 2011 5,020,000 2012 188,783 335,000 523,783 4,685,000 2013 178,733 350,000 528,733 4,335,000 2014 167,533 360,000 527,533 3,975,000 2015 155,653 375,000 530,653 3,600,000 2016 142,715 390,000 532,715 3,210,000 2017 128,675 405,000 533,675 2,805,000 2018 113,690 425,000 538,690 2,380,000 2019 97,540 435,000 532,540 1,945,000 2020 80,575 450,000 530,575 1,495,000 2021 62,575 475,000 537,575 1,020,000 2022 43,100 500,000 543,100 520,000 2023 22,100 520,000 542,100 -Total 1,381,672 5,020,000 6,401,672 8 Debt Service and Financial Obligations Description of Bonds and Notes 2003 Sales Tax Revenue Refunding Bonds Year Interest Amount Principal Amount Total Payment Principal Balance These bonds were issued in 2003 at a face amount of $3,830,000 at 2.0% to 3.5% interest. The bonds were used for refunding the City's 1993 Sales Tax Revenue Bonds which were issued to finance certain capital improvements for the City including a library facility, a City recreation center, and various other capital projects. The source of payment for the bonds comes from one-cent of the City's three and one-half cents sales tax. 2011 855,000 2012 29,925 420,000 449,925 435,000 2013 15,225 435,000 450,225 -Total $45,150 $855,000 $900,150 9 Debt Service and Financial Obligations Description of Bonds and Notes 1992 Colorado Water Resources and Power Development Authority Note Payable This note was issued in 1992, backed by bonds that were issued at a face amount of $7,500,000 at 3.8% to 6.7% interest. The note was used to construct a new 5,000,000 gallon-per-day water treatment facility, a raw water pipeline from an existing reservoir, a treated water pipeline from the treatment plant to the existing distribution system, and a treated water storage tank -all designed to facilitate handling system peak demands. Water tap fees are the source of payment. This note requires monthly payments to an escrow account. This schedule shows the annual debt service to Colorado Water Resources and Power Development Authority as paid from the escrow account. Year Interest Amount Principal Amount Total Payment Principal Balance 2011 635,000 2012 15,380 635,000 650,380 -Total $15,380 $635,000 $650,380 10 Debt Service and Financial Obligations Description of Bonds and Notes Colorado Water Resources and Power Development Authority Note Payable Year Interest Amount Principal Amount Total Payment Principal Balance 2011 529 166 This schedule shows the total debt service as it is paid to the escrow account, as required by the terms of the note. 529,166 2012 15,380 529,166 544,546 -Total $15,380 $529,166 $544,546 11 Debt Service and Financial Obligations Description of Bonds and Notes 2003 Colorado Water Resources and Power Development Authority Note Payable This note was issued in 2003, backed by bonds issued at a face amount of $13,800,000 at 2.0% to 4.125% interest. The note was issued to finance the purchase of water rights and the completion of various infrastructure water and wastewater system projects, as well as to refinance an existing loan with the Colorado Water Conservation Board. The source of payment for this loan comes from all water and wastewater revenues. Year Interest Amount Principal Amount Total Payment Principal Balance 2011 9,500,000 2012 344,119 595,000 939,119 8,905,000 2013 327,013 615,000 942,013 8,290,000 2014 308,563 630,000 938,563 7,660,000 2015 288,875 650,000 938,875 7,010,000 2016 267,750 670,000 937,750 6,340,000 2017 245,138 695,000 940,138 5,645,000 2018 220,813 720,000 940,813 4,925,000 2019 194,713 745,000 939,713 4,180,000 2020 166,775 775,000 941,775 3,405,000 2021 137,325 800,000 937,325 2,605,000 2022 105,325 835,000 940,325 1,770,000 2023 71,925 870,000 941,925 900,000 2024 37,125 900,000 937,125 -Total $2,715,456 $9,500,000 $12,215,456 12 Debt Service and Financial Obligations Description of Bonds and Notes Superior Metropolitan District #1 and the Northern Colorado Water Conservancy District Year Interest Amount Principal Amount Total Payment Principal Balance In December 2002, the City purchased six units of Windy Gap water from the Superior Metropolitan District #1. As part of the agreement, the City has taken responsibility for all of the District's continuing obligations for the payment of those assessments due and owing on the six units of the Windy Gap water to the Northern Colorado Water Conservancy District.2011 631,563 2012 33,606 90,438 124,043 541,126 2013 27,788 96,250 124,038 444,876 2014 22,744 101,250 123,994 343,626 2015 17,438 106,688 124,125 236,938 2016 11,847 115,500 127,347 121,438 2017 6,072 121,438 127,509 -Total 119,494 631,563 751,056 13 Debt Service and Financial Obligations Description of Bonds and Notes City of Greeley, Colorado Lease Payable Year Interest Amount Principal Amount Total Payment Principal Balance 2011 315 782 This lease with option to purchase is for three units of Windy Gap water. The lease required a front-end payment of $788,000 on November 1, 1994 with subsequent payments, subject to annual appropriations, on or before April 1. The lease was capitalized at the present value of $708,457. 315,782 2012 16,803 45,219 62,022 270,563 2013 13,899 48,125 62,024 222,438 2014 11,372 50,625 61,997 171,813 2015 8,719 53,344 62,063 118,470 2016 5,923 57,750 63,673 60,720 2017 3,036 60,719 63,755 -Total 59,752 315,781 375,533 14 COUNCIL COMMUNICATION TO: MAYOR AND CITY COUNCIL FROM: MALCOLM FLEMING, CITY MANAGER DATE: MAY 1, 2012 SUBJECT: RESOLUTION NO. __, SERIES 2012 – A RESOLUTION AMENDING THE 2012 BUDGET BY AMENDING APPROPRIATIONS IN THE GENERAL FUND, MCCASLIN INTERCHANGE IMPROVEMENT FUND, CONSERVATION TRUST – LAND ACQUISITION FUND, CONSERVATION TRUST – LOTTERY FUND, HISTORIC PRESERVATION FUND, CAPITAL PROJECTS FUND, IMPACT FEE FUND, LIBRARY CONSTRUCTION FUND, WATER UTILITY FUND, WASTEWATER UTILITY FUND, STORM WATER UTILITY FUND, GOLF COURSE FUND, BUILDING MAINTENANCE FUND, AND TECHNOLOGY MANAGEMENT FUND FOR CARRY FORWARD OF APPROPRIATIONS AND ADDITIONAL EXPENDITURES WITHIN SUCH FUNDS AND ADJUSTING BUDGETED REVENUE IN THE GENERAL FUND, CONSERVATION TRUST – LAND ACQUISITION FUND, HISTORIC PRESERVATION FUND, AND CAPITAL PROJECTS FUND, – PUBLIC HEARING SUMMARY: The attached resolution proposes a series of amendments to the City of Louisville’s 2012 Operating & Capital Budget. These proposed amendments are requested: 1. To carry-forward appropriations from 2011 to 2012 for projects that were approved for 2011 but not completed in 2011. In other words, the unspent budgets for projects not completed in 2011 are proposed to be added to the current 2012 budget. Total carryforward = +$1,799,210. 2. To formally adopt other adjustments to the current 2012 budget. These adjustments are for items that were not anticipated, or were not measureable, at the time the original 2012 budget was adopted. Many of these items have been previously discussed by Council and/or City Manager but have not been formally incorporated into the City’s 2012 budget. Total other adjustments = +$1,626,230. 3. To adjust the revenue budget to new revenue estimates or for new revenue sources that were not anticipated, or were not measureable, at the time the original 2012 budget was adopted. Total revenue adjustments = +$837,250. A public hearing is required to amend the budget. Notice of public hearing was published as required by law. SUBJECT AGENDA ITEM RESOLUTION NO. __, SERIES 2012 A RESOLUTION AMENDING THE 2012 BUDGET This is a preliminary draft of the agenda documentation for the budget amendment scheduled for the May 1, 2012 Council Meeting. Attached to this Council Communication are the line item detail appendices to the resolution. This is being presented to the Finance Committee for preliminary review and comment. No action is required. 15 PAGE TWO SUBJECT: RESOLUTION NO. __, SERIES 2012, A RESOLUTION AMENDING THE 2012 BUDGET DATE: MAY 1, 2012 The budget amendment is shown by line item detail and subtotaled by fund in Appendices A, B, and C to the Resolution. The following discussion includes departmental narratives for each line item, or related group of line items. Carry Forward of Unused Appropriations from 2011 (Appendix A to the Resolution) 027-110-57402-00 Transfer to the Capital Projects Fund (+$20,380) 042-499-55310-42 McCaslin Dillon Intersection (+$101,900) This addition carries forward the unspent budget for the McCaslin/Interchange Project and transfers amounts from the McCaslin Interchange Fund for the 20% City match on the project. The remaining 80% cost is funded by federal grants. 027-110-57402-00 Transfer to the Capital Projects Fund (+$40,000) 042-499-55310-45 McCaslin Interchange Modeling Study (+$40,000) This addition carries forward the unspent budget for the City of Louisville’s portion of the McCaslin Interchange Modeling Study and transfers an equal amount from the McCaslin Interchange Fund. 028-799-55330-06 Trail Improvements (+$60,000) During the public process for the Heritage Park Renovation Project in 2010, the public expressed a desire to improve the trail crossing in the northeast corner of the park. The park renovation project budget did not have sufficient funds to address the public concern. Parks & Recreation proposes to utilize un-used dollars in the Trail Improvements fund to make the requested improvement. 028-799-55330-21 New Trails Program (+$53,040) The Coal Creek to Rock Creek Trail Connection along the 104th Street corridor is a joint project with BCPOS, Louisville and Lafayette. The partners continue to work on planning & design for the project and continue to seek grant funding. The carry-forward funding will keep the project moving forward and cover planning & design expenses as well as pedestrian crossing improvements that need to be completed in 2012. 028-799-55330-54 Boundary Treatments (+$9,000) The Aquarius Trailhead Renovation Project will include boundary fence replacement. Instead of handling the fencing project separately, it was included as part of the trailhead renovation project. 028-799-55330-76 Aquarius Parking Lot (+$76,170) The Aquarius Trailhead Renovation Project was bid in December 2011 with an award of bid on January 12, 2012. The project is anticipated for completion on or about April 13, 2012. The Council Communication authorized funding for the project to come from $70,170 in a carryforward from 2011 budgeted at Aquarius, Boundary Treatments ($5,000 carry-forward balance from Boundary Treatments and $10,500 reprioritized for this project from 2012 funds), Trail 16 PAGE THREE SUBJECT: RESOLUTION NO. __, SERIES 2012, A RESOLUTION AMENDING THE 2012 BUDGET DATE: MAY 1, 2012 Improvements ($12,500 from 2012 funds). Total project amount is $104,170. 029-799-55330-24 Skateboard Park (+35,200) The project was put out to bid in 2011. Bids received were beyond available funds. Staff repackaged the project rebid in 2012. Current bids received are within original budget. Funds are being carry-forward to complete project in 2012. 029-799-55330-59 Landscape Replacement Programs – Parks (+$128,700) Funds are being carry-forward to complete the Recreation Center Landscape Project in 2012. 029-799-55330-62 Parks & Open Space Signs (+$17,900) The carry-forward will fund the Recreation & Senior Services Center signage which was approved in 2011 and delayed until 2012. 2012 funding is for other parks & open space signage improvements. 029-799-55330-77 Drinking Fountains (+$8,160) Funds are being carry-forward with the intent to install a water hydrant at Community Park Dog Park. Water hydrant will be available to fill up water dishes for dogs, something the frequent users have expressed an interest in for some time. 042-110-55500-08 Library Automated Materials Handling System (+$55,000) 044-499-55200-08 Library Construction – FF & E (+$105,000) Purchase and implementation of automated materials handling system was delayed from 2011 until 2012. 042-110-55520-08 Computer Hardware – BVSD Fiber Project (+$68,900) Carry-forward unspent project budget until a final determination is made as to further work. 042-110-55530-11 Human Resource Information System (+$75,000) Carry-forward unspent project budget on Human Resources Information System (HRIS). Continue to work with Epicor, Inc. to integrate their HRIS system with our payroll system American Data Group(ADG) to provide access for employees to view employee information, reporting and analysis of employee information for workplace planning purposes, as well as providing easy access and efficiencies for on-line open enrollment processing. 042-499-55310-05 Bridge Repairs (+$44,900) The 96th Street Bridge was evaluated for deficiencies in 2011 resulting in a report recommending additional monitoring and minor repairs. The amount being carried forward represents unspent project funds that will be put towards the 96th Street Bridge report recommendations and perform preliminary evaluation of County Road Bridge. 042-499-55310-33 South Boulder Road & Highway 42 (+$241,700) This carries forward funds needed to construct the sidewalk on the west side of Highway 42 from Harper Street to the Union Jack driveway and to make final payments on the State 17 PAGE FOUR SUBJECT: RESOLUTION NO. __, SERIES 2012, A RESOLUTION AMENDING THE 2012 BUDGET DATE: MAY 1, 2012 Highway 42 and S. Boulder Road Project. The State Highway 42 sidewalk project is scheduled for construction in April of 2012. The work on the State Highway 42 and S. Boulder Road intersection project is complete; however, the Public Works is waiting on Asphalt Specialties to submit the required close-out project documentation before making final payments on the project. 042-499-55310-38 Highway 42 Station Area Master Plan (+$11,240) This amendment carries forward the net (of grant) amount. See the next section for an adjustment that converts the amounts from net cost to gross cost. 042-499-55310-39 Highway 42 Corridor Study (+$117,670) This amendment carries forward the net (of grant) amount. See the next section for an adjustment that converts the amounts from net cost to gross cost. 042-499-55420-07 Traffic Signals (+$63,600) This carry forward represents funds to procure equipment for improvements to traffic signals along the McCaslin Corridor. These improvements are part of a grant awarded by DRCOG in the amount of $24,000 and reflected as revenue in Appendix C. 042-799-55330-33 Median Improvements (+$25,500) Carry-forward for the South Boulder Road Improvements. Project was delayed in 2011. With the carry-forward funds in combination with the approved 2012 funds ($25,500) staff will be able to broaden the scope of the original plans to hopefully include hardscape improvements as well as plant material improvements. 051-498-55830-01 Water Line Replacement (+$40,000) This carry forward represents unspent funds from the 2011 Utility Improvement project. These funds have been committed as a funding source for the 2012 Utility Improvement project. 051-498-55840-07 3 MG Tank (+$58,700) This carry forward represents unspent funds from structural evaluation of the tank roof and design of short-term stabilization improvements. These funds will be used towards a complete structural evaluation and design of long-term rehabilitation improvements budgeted in 2013. 051-498-55840-48 Heating Upgrades – South Plant (+$20,000) This carry forward represents 2011 funds for a multi-year project that has been bid, was approved on 01/17/12, and is currently being completed. 051-499-55360-12 Raw Water & Facilities Plan (+$65,000) This carry forward represents remaining funds to complete finalization of the Facilities Plan report. 18 PAGE FIVE SUBJECT: RESOLUTION NO. __, SERIES 2012, A RESOLUTION AMENDING THE 2012 BUDGET DATE: MAY 1, 2012 051-499-55840-60 Solar Bee Mixer in Storage Tanks (+$31,000) This carry forward represents committed funds for necessary water quality upgrades. 052-498-55840-10 Plant Pump Replacement (+$28,000) This carry forward represents fund to purchase a replacement pump at the WWTP. This project could not be completed in 2011 due to staffing turnover. 052-499-55840-25 Aeration Blower (+$7,000) This carry forward represents retainage being held from High Speed Turbo Blower improvements at the WWTP that are still under contract performance monitoring. 053-499-55840-50 Storm Drainage Manual Update (+$10,000) This represents unspent funds from a joint project with UDFCD that updated the City’s Storm Water Drainage Manual. This project is currently being finalized and the rollover amount reflects contingency to pay for any cost related to closing out this project. 054-799-55260-01 Clubhouse Improvements (+$30,300) The recent Golf Course Improvement Plan identified and City Council authorized 2012 funding for phase I course improvements to include tree removal/replacement, replacement of irrigation parts, GPS mapping and booster pump repair. Staff requests a $30,300 carryforward to implement improvements (e.g. restroom and building accessibility) to the clubhouse in anticipation of findings from an ADA audit and transition plan that will be completed in May 2012 as well as to address some deferred maintenance issues and to leverage participation from Western Golf Properties. Improvements in 2011 were deferred to spend time and energy on the Golf Course Improvement Plan and to wait on the completion of the ADA audit. 066-110-53500-00 General Facility Improvements (+$85,250) Projects encumbered but not spent in 2011 include Police building automation ($58,378), Police Insulation ($14,700) & City Hall windows ($14,376) 067-110-55520-00 Computer Hardware (+$25,000) Carry-forward unspent project budget to 2012 – four servers and Exchange software. Additional Adjustments to 2012 Appropriations (Appendix B to the Resolution) 010-110-53805-01 Insurance (+$25,550) 051-110-53805-01 Insurance (+$16,880) 052-110-53805.01 Insurance (+$3,200) Increase in 2012 property and liability insurance premiums. 010-121-53910-07 Citizen Opinion Survey (+$22,840) Correction of budget error – adds budget for Citizen Survey. 19 PAGE SIX SUBJECT: RESOLUTION NO. __, SERIES 2012, A RESOLUTION AMENDING THE 2012 BUDGET DATE: MAY 1, 2012 010-130-52120-00 Non-Capital Equipment (+$1,700) Reclassify purchase of digital recorder from a capital project to an operational item. 010-171-51110-00 Temporary Salaries (+$9,180) 010-171-51200-00 FICA Expense (+$700) Add budget for temporary part-time temporary