HomeMy WebLinkAbout09.a. Receive FY 2017-18 Pre-Audit Year-End Capital Improvement Budget Status Report Page 1 of 3
Item 9.a.
CENTRAL SAN CENTRAL SAN BOARD OF DIRECTORS
POSITION PAPER
MEETING DATE: SEPTEMBER 6, 2018
SUBJECT: RECEIVE FISCAL YEAR 2017-18 PRE-AUDIT YEAR-END CAPITAL
IMPROVEMENT BUDGET STATUS REPORT
SUBMITTED BY: INITIATING DEPARTMENT:
EDGAR J. LOPEZ, CAPITAL PROJECTS ENGINEERING AND TECHNICAL SERVICES-
DIVISION MANAGER CAPITAL PROJECTS
REVIEWED BY: JEAN-MARC PETIT, DIRECTOR OF ENGINEERING AND TECHNICAL
SERVICES
Roger S. Bailey
General Manager
ISSUE
The Board of Directors (Board) approves the Capital Improvement Budget (CIB) and Ten-Year Plan on a
yearly basis. At Fiscal Year(FY) end, staff reviews and compares the final revenues and expenditures,
based on the pre-audit financial reports, to update the Board on the progress of the Capital Improvement
Program.
BACKGROUND
A public hearing was held on June 1, 2017, after which the Board adopted the FY 2017-18 Cl B. The
proposed revenue and estimated expenditures for the FY 2017-18 CIB were $39,327,800 and
$46,471,559, respectively. Based on the pre-audit June 2018 financial statements, the actual revenues
and expenditures are $44,850,100 and $39,504,606, as detailed in Attachment 1 - FY 2017-18 Cl B Pre-
Audit Year-End Status Report.
September 6, 2018 Regular Board Meeting Agenda Packet- Page 109 of 135
Page 2 of 3
ALTERNATIVES/CONSIDERATIONS
Any unused project budget is carried over to the next fiscal year until time of close-out. When projects
close, any unspent budget remains in the Sewer Construction Fund.
FINANCIAL IMPACTS
Due to the higher FY 2017-18 Sewer Construction Fund revenues, the starting balances for FY 2018-19
were higher than projected.
COMMITTEE RECOMMENDATION
The Engineering and Operations Committee reviewed this subject at the August 13, 2018 meeting and
recommended the Board receive the report.
RECOMMENDED BOARD ACTION
Receive the FY 2017-18 Cl B Pre-Audit Year-End Status Report.
Strategic Plan re-In
GOAL THREE: Be a Fiscally Sound and Effective Water Sector Utility
Strategy 2- Manage costs
ATTACHMENTS:
1. FY 2017-18 CI B Pre-Audit Year-End Status Report
September 6, 2018 Regular Board Meeting Agenda Packet- Page 110 of 135
Page 3 of 3
Attachment 1
FY 2017-18 CIB Pre-Audit Year-End Status Report
Updated Table 9 — Sewer Construction Fund Revenues and Expenditures
FY 2017-1 (Variance)
w/ Carry- PFY:2017-18 Budget- Carryca
"11L.:
Budget' orward Actual to-Actual Forwar
Revenue
Sewer Service
Charge $13,967,300 $13,967,300 $14,060,789 0.7% 0.7%
Ad Valorem Taxes $12,100,000 $12,100,000 $13,918,715 15.0% 15.0%
Capacity Fees $5,900,000 $5,900,000 $7,937,754 34.5% 34.5%
Pumped Zone Fees $513,000 $513,000 $1,301 ,061 153.6% 153.6%
Interest Income $386,000 $386,000 $777,226 101 .4% 101.4%
Reimbursements
City of Concord $6,000,000 $6,000,000 $6,364,725 6.1% 6.1%
All Other2 $461,500 $461,500 $489,830 6.1% 6.1%
Total Revenue $39,327,800 $39,327,800 $44,850,100 14.0% 14.0%
Expenditures
Treatment Plant
Program $18,045,000 $21,383,262 $15,681,067 -13.1% -26.7%
Collection System o
Program $18,492,000 $17,589,856 $20,291,192 9.7/0 15.4/0
General
Improvements $4,277,000 $5,474,829 $2,222,593 -48.0% -59.4%
Program
Recycled Water o 0
Program $460,000 $523,612 $1,309,754 184.7% 150.1 /o
Contingency3 $1 ,500,000 $1 ,500,000 $0 0.0% 0.0%
Total Expenditures $42,774,000 $46,471,559 $39,504,606 -7.6% -15.0%
Budget at time of adoption on June 1, 2017.
2 Includes Developer Fees, Charges, and other reimbursements.
3 Contingency budget transferred to CIB programs.
September 6, 2018 Regular Board Meeting Agenda Packet- Page 111 of 135