FINAL BUDGET MEMO - Laserfiche WebLink

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General Fund The General Fund is the primary operating fund of the District. Costs associated with the day- to-day operations of the District are budgeted in this fund, as are repair projects under $5,000 and the purchase of capital items. General Fund Revenue (Exhibit A) Proposed adjustments include an increase in property taxes based on current estimates, and increased revenues for reimbursable programs. The $950,000 fund balance reflects the use of part of the $2,000,000 the board requested be evaluated for use on capital improvement projects during the discussion of reserves and strategic plan discussion at its March 3, 2016 Board meeting - $500,000 is proposed to be used for completing Master Plan Projects at Dos Vientos Community Park and $450,000 for a Therapeutic Unit Needs Assessment and Improvements at Old Meadows Center (see also Capital Improvement Projects discussion below). Genera! Fund Expenditures (Exhibit B) Proposed adjustments include adjustments to Salaries and Benefits based on the Memorandum of Understanding negotiated with the Service Employees International Union, effective July, 2015 through June, 2017, and changes in staff (promotions, transfers, new hires, terminations). Additional adjustments provide resources for increased transparency (Data Processing), 850 Warwick programs (Centers Management), retiree medical and depreciation, as well as funds for gopher eradication equipment. The budget also reflects an increase in the cost of landscaping and park maintenance services and a decrease in the cost of custodial services to reflect recently approved contracts. Districtwide Assessment District Fund (Exhibit C) Revenue from the assessment can be used for both operational and capital project purposes. Proposed adjustments include an increase in the Assessment to reflect the Engineer's Report. Other significant changes reflect updates to Capital Improvement Projects, delineated in detail in Exhibit G. Dos Vientos Assessment District Fund (Exhibit D) Assessment revenues can be used for both operational and capital project purposes. Proposed adjustments include an increase in projected Assessment Revenue to reflect the Engineer's Report. The increase in the General Fund Transfer, Fund Balance and Capital Improvement line items reflect budget for completion of Master Plan Projects, discussed further below.