HomeMy WebLinkAboutPCDC Resolution 2001-004 04/16/2001
i..
Resolution No. 2001-004
of the Petaluma Community Development Commission
APPR®VING ADJUSTMENTS TO FY 2000-01 PCDC DUDGET
WHEREAS, on April 16, 2001, the Petaluma Community Development Commission held a public
meeting and considered amid-year financial report on the FY 2000-01 PCDC Budget; and
WHEREAS, the Commission considered various adjustments to the budget and requested that
changes be reflected in certain line-items with the intention of having the budget reflect current
financial conditions.
NOW, THEREFORE, BE IT RESOLVED that the Petaluma Community Development
Commission hereby approves and adopts adjustments to FY 2000-01 PCDC Budget, attached hereto
as Exhibit A and referred to as Attachment II in the FY 2000-01 PCDC Mid-Year Financial Forecast
Staff Report, adopted this 16th day of April, 2001 by the following votes
A) MOTION.: Commissioner Healy moved, seconded by O'Brien, to approve line item
5469 without changes.
A) MOTION PASSED: 3/1/3
Ayes: O'Brien, Healy, Vice Chairman Cader-Thompson
Noes: Moynihan
Abstain: Maguire, Torliatt, Chairman Thompson
B) MOTION: Commissioner Maguire moved, seconded by Healy, to approve line
items 8530 and 8609 without changes.
B) MOTION PASSED: 3/1/3
Ayes: Healy, Maguire, Vice Chairman Cader-Thompson
Noes: Moynihan
Abstain: O'Brien, Torliatt, Chair Thompson
C) MOTION: Commissioner Maguire moved, seconded by O'Brien, to approve line
item the loan from PCD to the CBD.
C) MOTION PASSED: 3/1/3
Ayes: O'Brien, Maguire, Vice Chairman Cader-Thompson
Noes: Moynihan
Abstain: Healy, Torliatt, Chairman Thompson
E. C ar hompson, airman
ATTEST:
Beverly J. Klin~, I~,ecord~ng Secretary
Reso. 2001-04
CENTRAL BUSINESS DISTRICT RRQJECT AREA. _ ,
REVENUES AND~EXPENDITIJRES'
' FY 2000-01 MID=YEAR FINANCIAL FORECAST
_ -
REVENUES AND EXPENDITURES BY PROJECT AREA FY 97-98 FY 98-99 FY 99-00 FY, 00-01 , FY o0-01 Increase/ . FY 01-Q2 FY 02-03
Actual Actual Actual ,Budget' Revised (Decrease) Proposed' Projected
Budyct
CENTRAL BUSINESS DISTRICT PROJECT AREA
REVENUES AND TRANSFERS'IN '
1 Beginning`Reserves forProjects 0 0 0. 0 V 0 20,000 20;000
2 Beginning Funds Available 88,119 94,249 (22;960) ,(0) (11x,645) (114,645) (367,454). (438,255)
3 Property Tax lncrementJ2evenue 433;439 450,873 462,732 444',891 485,683 40,792 503;875, 522748
4 Other Revenues 20,079 21,960 13,058. 9,100 9.1oU 0 9,100 9,100
5 Transfer In: Loan from PCD Fund 902 0 10,000 0 438,308 0 (438,308) b 0
6
7 TOTAL REVENUES AND TRANSFERS IN 541,637 577;082 457;830 892;299 380,138 (512;161) 165,521 113;593
8
9 EXPENDITURES AND'TRANSFERS OUT
10 Administration 41;145 51,901 75;509 186,621• 187,549 928 '93;501 - 96,684
11 Rrojects
12 ~ Downtown. 124',992 183,782 214,658• 180;900' 133,865 (47,035). 240;400' 195;400
13 - Circulation and Parking 61-;544 61-;929 41-;530 216;000 216,000 0 33;000' 33,000.
14 .Pedestrian Environmerif 6,4;18 5;807 2;197 4,000 _7.000 3,000 4',000 1;854-,652
1y5 'Loans Inferesf',& Credits 38;013 35,027 37,080 35;000 38.441 3;441 38;500 38,500.
16; T;~ansfers.0iat
1"7' Transferiout;to;Housing'Fund 86,688 90,175 93;547 88,978 97,137 8,158 ]00;775 104,550
t8, _ Transfer=out;tosDebtSeniice Fund 67,188 131,636 82,954 135,800 22,600 (113,200) 48;600_ 132;000
19 Transferout to Gerieral Fund,forSecurity Patrol 21,400 25;000 25,000 25,000 25,000 0 25;000 25;000
20s Reserves for-F.u4ure Projects 0 0 0 20,000 20.o0D= 0 20;000 20,000
21 TOTAL EXP-ENDITURES,; TRAJJSFERS OUT 447,388 585,257 572,475 892,299 747,597 (144,708) 603;776 2;499;785
22 8~ RESERVES'
23
24 UNRESERVED?FUNDSAVAILABLE 94,249 '(8,175) .(1'14;645) (1) (367,454) (367;453) {438,255) (2,386,192)
'City oYPetaluma, California -.Petaluma CommunityDevelopment Commission - ,
-r
- "5/21101` 10:1'4 AM PCDC2000MidyrFrest2001"proplBudgetl.XLS PCDGdetail l
CENTRAL BUSINESS. DJSTRICT P.ROJEGT AREA
REVENUES AND EXPENDITURES
FY 2000-01 ,MID'=YEAR FINANCIAL FORECAST
REVENUES AND EXPENDITURES BY PROJECT AREA FY 97-98 FY'98-99. FY 99,00 FY 00-01 FY 00-01 Increase/ FY 01-02 FY'02-03
' .A,ctual Actual Actual Budget Revised (Decrease) Proposed Projected
Budyct
CENTRAL,BUSINESS.DISTRICT PROJECTAREA
1 Beginning ReservesforProjects 0 0 0 0 0 0 20,000 2Q,~00
2 Beginning:Funds Available 88,119 94,249 (22,960) (0) 1,114,645) (114,645) (367;454) (438,255)
3 REVENUES
4 3100 Property Taxlncrement 433,439 .450;873 467,732 444,891 485.683 40;792 503,875 522,748
5 3500 InteresYEarnings 8,767 14,698 7;758 3,000 3.000 0 3,000 3;000
6 3600 Miscellaneous Revenue 7,500 2,500 212 A 0 0 0 0
7 3700 Parking Lot Revenue 3;812 4;762 5,088 6;100 6.100 0 6,100 6;100
8 TOTAL REVENUES 453;518 472,833 480,790 453,991 494,'83 40,792 512,975 531,848
9
10 TRANSFERS IN
11 Transferlh 0 10;000 0 438„08 0 ,(438;308) ~ 0 0
12
13: TOTAL,REVENUES AND TRANSFERS IN 541,637 527,082 457;830 892,299 320.138 (512,161) 165;521 113;593
14
15 EXPENDITURES
16 Administration
17 8505 Project A, ~ istra,ion 41,145 41,820 7,299 65,550 65,550 0 67;517 69;542
18 . 8508_ `CBD Plan_Amendmerit (Seifel #1) 0 10,081 38,208 97,121 97,121 0 0 0
19 8 _ ~ C~. collection Fee 0 0 9,602 10,000 1o,92s 928 11,337 11;762
- 20 8' ~ i~~~~~~~ ~ ~ ~)vetheatl 0 0 20,400 13,950 13,sso 0 14,648. 15;380
21 Subtotal Adrninisfration 41,145 51,901 75,509' 186;621 ~R7,549 928 93;501 96,684
22 Downtown
23', o.,1z U~f~1 F-r~tacr 39,917 112,746 106,269 95,500 a5,00o (50;500) 155,000' 1„10;000
24 8517 Petaluma Downtown Assoc. 85,075 71;036 98;247 70;000 i 3.465 3,465 70,000 70,000
25 8518 Special Projects
26 Downtown Security 9,642 15,000 15,000 0 15,000 15,000
27 Summer Youth Work Program 0 400 400 ° 0 400 400
28 Subtofal Downtown., 124,992 183,782 214,658 180,900 133;865 (47,035) 240;400 195,400.
City of Petaluma; California -Petaluma CommunityDevelopment Commission
_ "'5/21/01 10:.14AM PCDC2000MiiiyrF~cst2001proplBudgetl.XLS PCDC detail 2 ,
CENTRAL.BUSINESS DISTRICT PROJECT'AREA
REVENUES AND EXPENDITURES
FY 2000-01 MID-YEAR FINANCIAL FORECAST -
REVENUES AND EXPENDITURES BYPROJECT AREA FY 97-98 FY 98-99 FY`99-00 FY 00-01 FY o0-0 t Increase/ FY 01-02- FY 02-03
Actual Actual Actual Budget Revised (Decrease) Proposed; Projected
Budyct__
29' (Circulation and'Parking
30 851,1 Parking Ga~agelLot Maintenance 41;932 59,730 39,751 33,000 33,000 0 33,000. 33;000.
31 9725 Underground Tank Monitor 1';552 2,199 1,77.9 4,000 4.000 0 0 0
32 9891 ;Riverwalk Improvements- Putnam Plaza 18,060 0 0 0 0 0 0 0
33 9993 Parking Garage Improvements 0 0 0 179,000 179.000 0 0 . 0
34 Subtotal Circulation and ParkincJ 61,544 61,929 41,530 216,000 210,000 0 33;000 33;00.0
35 - Pedestrian Environment
36 8015 iv1m:~ c~Ueet lmproven~ents 3,401 1,925 0 0 n 0 0 0
37 9016 Cent. Pet. SpecificPlan Implementation 0 0 0 0 0 1;850;652
38 9792 Rivenvalk Imprpvements 0 0 0 0 0 0 ~ 0 0
39 8516 Plaza Resfroom Mairitenarice 3;017 3;882 -2;197 4;000 7,000 3;000 4,000 4,000
40 SubtotalPedesti•iai~ Environment 6,418 :5;807 2;197 4;000 7.000 3,000 4,000 1;85.4,652
41 Loans/Interest/Credits
42 8510 GBD Loans & Assessment Gredrts 38;013 35;027 37,080 35,000_ ss,a-i1 3;441 38;500 38,500
43' $UbtotaLLOdnS/lnterest/Credits 38,013 35;027 37;080 35,000 38,4-i1 3,441 38;500 38',500
44
45'- TOTAL EXPENDITURES 272,112 338;446 370;974 622,521 582,855 (39,666) 409,401 2,218,236
46
47 TRANSFERS OUT
48' Transfer§ out to.Low/Mod Housing;Fund 903 86,688 90,175 93,547 88;978 97,137 8;158 100;775 104;550
49 Transfers out to Gen Fund.for Foot Patrol:Services 21,400 25,000 25;000 25,000 25,000 0 25,000 25;000.
50 Transfers otat,to Debt Service: 1984 TAB 67,188 131,636 82,954 135,800 0 (135,800) 0 0
50a Transfers,otit to Debt Service: 20006 TA8 0 0 0 0 22,BOO 22,600 48,600 132;000
51 SuFitotal Tratisfers Out 175,276 246;811 201,501 249,778 144,737. (105;042) 174,375 261,550
52'
53' TOTAL EXPENDITURES & TRANSFERS OUT' 447;388 585,257 572,475 872,299 727,591 (1. 44;708) :583,776 .2,479,785
54
55 'ENDING FUNDS AVAILABLE 94,249 (8,b75) (114,645) 19;999 (347,451) (367,453) (418,255) (2,366,192)
56 Reserved Funds:.Loan Repaymentto Fund 902 0 0 0 0 0" 0 0 0
57 Reserve for Future Land Acquisition 0 0 0 0 0 0 0 0
58 Reserve for URM Reimbursements 0 0 0 0 0 0 0 0
59 Reserve for Contingencies 0 0 0 20;000 20,000 0 20;000. 20,000
60
61 -
' 62 CINRESERVED FUNDS AVAILABLE 94,249 (8,175) -(114,645) (11 ('67,45-1) (367;453) (438;255) (2,386,1.92)
63 ,
64 Cumulative Interfund Loan From PCD Project Area Fund 90 0 0 116,000 0 367,4:,4 367,454 438;255 .2;386,192
Cityof Petaltima,.California -Petaluma Commiinity Development Commission '
^5/21/01 1014'AM P.CDC2000MidyrFrest2001proplBudget1:XLS PCDC detail 3
COMMUNITY DEVELOPMENT PROJECT AREA
REVENUES AND.EXPENUITURES _
FY 2000-01' MID-YEAR FINANCIAL FORECAST
REVENUES AND EXPENDITURES BY PROJECT AREA FY 97-98 FY 98-99 FY 99-00 FY00-01 FY o0-01 Increase/ FY 01-02 FY 02-03
Actual Actual Actual Budget Revised (Decrease) Proposed. Projected
Budget
REVENUES AND TRANSFERS IN
1 Beginning Reserves 2,398,725 893,277 238,346 6,800;000 50,000 (6,750,000) 6,850,000 6,850,000
2 Beginning Funds-Available 2,324;761 0 (2,128,403) 4,486;638 4,791.436 304,798 3,872,893 3,178,963
3 PropertyTaxlncrementRevenue 4,290,551 5,102,355 5;580;074 6;064,814 6,900,000 835,186 7,590;000 8,349,000
4 Other Revenues 394,293 128,373 162,041 410;000 610,000 200,000 550,000 550,000
5 Transfers In: 2000A Tax Allocation Bond Proceeds 0 0 18,000;000 0 0 0 0 0
6 Other Transferslh 0 0 0 A06,000 7,207.35; 6,801,357 0 0
7 TOTAL REVENUES AND TRANSFERS IN 9,408,330 6,124,005 21;852,058 18,167,452 19,558,793 1,391,341 18;862;893 18,927;963
8
9 EXPENDITURES AND TRANSFERS OUT
10
1.1. .administration . 243,899 281,023 1,237,287 328,958 407,750 78,792 408,141 408,306
12 Projects'
1.3~ Downtown 15;272 14,031 45;255 50,000 20,000 (30,000) 80;000 50;000
14 Circulation,and,Parking 3,908,764 3,245 0 8¢000 RO.ooo 0 1;300,000 0
15 Pedest~an',Enyironment 15;837 23,435 1,8;175 514,X1.0 514,100 0 613;100 10;000
16. Public Improvements 858,563 4,184,273 0 50;000 50,000 0 0 0
17 Economic;Revitalization 479;900 78;629 253,857 22,000 1so.o0o 158,000 2,000 2,000
18 Passthroughs, Loans & Interest 1,438,061 1,677,646 1,985,722 2,080,951 2,364,076 283,125 2,597,983 2,855,282
19 Transfers Out to Other Funds
20 Transfers-0iit (Loan) to CBD Fund 901 0 10,000 0 438,308 0 (438,308) 0 0
21 Transfer50utto Housing Fund 903 790;420 945;246 1,033;]03 1,212,963 1,380,000 167,037 1,518;000 1,669,800
22 Transfers 0ufto Debt Service'Fund 904 544,109 720,068 631,544 2,614,779 2,536,oaa (78,691) 2,262,206 2,344,567
23 Transfers OuttoStorm Drain Fund 210 0 0 0 6,800,000 0 (6;800,000) 0 0
24 Transfers Out to Marina Fund 607 196;500 52,500 52,500 52,500 52,500 0 52,500 126,250
25 Reserves for Future Projects 893,277 238;346 6,800,000 50,000 6,850,000 6;800;000 6,850,000 6,850;000
26 TOTAL EXPENDITURES, TRANSFER50UT 9,384;602 8,228;442 12,057,443 14,294,559 14,434,514 139;955 15,683,930 14,316,205
27 & RESERVES
28
29 UNRESERVED FUNDS AVAILABLE 0 (2,128,403) 4,791,436 3;672,893 5.124,279 1,251;386 3,178,963 4,611,758
City dfPetaluma, California= Petaluma Community'Development Commission •
r. ~ "5/21/0,8 10:14 AM PCDC2000MidyrFrest2001 prdplBudget1.XLS PCDC detail 4
COMMUNITY REVEL' OP_MENT PROJECT AREA
REVENUES ANDEXPENDITURES
FY 2000-01 MID=YEAR FINANCIAL FORECAST
'REVENUES AND EXPENDITURES BY PROJECT AREA FY 97-98 FY 98-99 FY'99s00 FY'00-01 FY oo-O1 Increase/ FY 01-02 FY 02-03
Actual. Actual Actual. Budget Revised (Decrease) Proposed Projected
budget
COMMUNITY DEVELOPMENT PROJECT AREA
1 Beginning Reserves for Projects 2,398,725 893,277 238;346 6,800,000 SO,ooo (6,750,000) 6;850,000 6,850,000
2 Beginning FundsAvailatile 2,324,761 0 '(2,128,403) 4,486,638 4,791,436 304,798 3,872,893_ 3;178;963
3
4 REVENUES
5 3100 Pj'opertyTaxlncrement 4;290,551 5,102;355 .5;580;074. 6,064;814 6,900.000 835;186 7,590,000 8,349;000
6 3500 Interest Earnings 179,478 128,373 137,041 410,000 550,000 140;000 550,000 550,000
7 3600 Miscellaneous Revenues 8,400 0 .25,000 0, 0 0 0
8 3700 Property Owners Contributions 206;415 0 0 0 60,000 60,000 0 0
9 TOTAL REVENUES 4,684,844 5;230,728 5,742,115 6,474;814 7,510,000 1.,035;186 8,140,000 8,899,000
10
11 TRQNSFERS,IN:,
12 Gross 2000 Bond Proceeds 0 0 18;000,000 0 0 0 0 0
13. Ihterestion`:DebtSvcReserve 0 0 0 0 0 0 0
14 Pi-oceeds~of 1992 Bond'Reserve 0 0 0 406,000 407.357 1.,357 0 0
15 Transfer From,Storm Drain Fund 210 0 0 0 0 6.300,000 6,P~0;000 0 0
16 TOTAL TRANSFERS IN 0 0 18,000,000 406,000 7.207 357 8,8u1,357 0 0 -
17 -
18 TOTAL REVENUES AND TRANSFERS IN 9,408,330 6,124,005 21,852,058 18,167,452 19,55°,793 1,391;341 18,862;893 18,927,963
19 "
20 EXPENDITURES
21 AdministraUOn
22 8505 Project Administration 12,890 9,036 112,667 140,450 140,450 0 145,366 150,454
23 8509 Cost of Issuance for 2000 TABS 0 0 717,470 0 0 0 0 0
24 8508, PCD Plan Amendment (Seifel #4) 0 0 58;524 0 0 0 ~ 0 0
25 8513 PCD TAB?Fiscal Svcs (SeifeL#3) 0 0 11,392. 0 0 0 0 0
26 8538 S6-2557'Eounty Collection Fee 65,747 97;982 110;637 136;458 t 55,250 18;792 , 170,775 187,853
27 8525 Marina'Hotel Study 0 0 69,136 - 0 so,oo0 60,000 0 0
28 8537 Proj.Area Alternatives Analysis (Seifel#2) 20,962 21,346 9,262 0 0 0 0 0
29 9990 General,Plan Update' 0 0 0 0 0 0 27,000 0
30 8539 'City'Indirect Overhead 144,300 152;659 150,200- 52;050. 52,050 0 65;000 70;000
31 Subtotal Administration 243;899 281,023 1,237;287 328,958, 4u7,75o 78,292 408,14T 408;306
32 Downtown - .
33 85,12 URM Project 52 831 45;255 50;000 20,000 {30;000) 80,1)00 ~ 50;000 ~ -
34 85;17 'Petaluma Downtown Assoc. 15,220 13';400. 0 0 0 0 0 0 '
35 Subtotal Downtown 15,272 14;03.1 45;255. 50;000 20,000 (30;000) 80;000 5q;000
38 Circulatiomand Parking '
37 95~o Freeway Overcrossiny~lidcwliauge 204,764 0 0 0 0 0 0 0
38 9845 :Lakeville Highway Improvements 3,512,000 0 0 0 0 .0 0 0
39 9014 '.Corona Road Highway Improvements 0 0 0 80;000. 30,000 0 0 0
40 9848 Old`Redwood Highway Improvements 192,000 0 0 0 n 0 0 0
41 . 9863 McDowell./'E. Washington'Improvements 0 0 0 0 0 0 1;300,000 0
42 - 9891. Tglephone Alley 0 3,245 0 0 0 0 0 0
'43' Sufito4aliGirculation:and Parking 3,908,784 3;245 0 80;000 s0,0oo 0 1,300;000 0
5/21%01' 70:14 AM: FCDC2000MidyrF~cst2001proplBudgetl.XLS PCDC detail,5
City,of Petaluma, California -Petaluma Community DevelopmenttCommission
"_•.5/21/01 1.0:14 AM PCDC2000MdyrFrest2001proplBudget1-XLS PCDC detail 6
COMMUNITY DEVELOPMENT`PROJECT AREA,
REVENUES AND; EXPENDITURES,
FY 2000-01 MID-YEAR'FINANCIAL.FORECAST
. REVENUES AND EXPENDITURES BY PROJECT AREA FY'97-98 ~ FY.98=99 FY 99-00. FY 00-01 FY 00-01 Iricrease/ FY 01-02 FY 02-03,
Actual Actual Actual `.Budget. Revised (Decrease) Proposed Projected
' ~ Budget
44 Pedestrian Environment
45 8510 Main Strecl Improvements 14,361 17,950 0 0 0 0 0 0
46 9876 Petaluma River/Trails Enhancements 0 0 0 492,500 x92,500 0 591,500 0
47 8515 Tree Maintenance & Watering 0 0 18,175 21,600 21,f 00 0 21,600 10,000
48 9936 Putnam Plaza Ped Crossing 1,476 5,485 0 0 0 0 0 0
49 SubtatatPedestrianEnvironment 15,837 23,435 18,175 514,100 51 a.1oo 0 613,100 10,000
50 Public Improvements
51 9724 1=i,~ ~I ~~i~:~I In~F ~:,.:~n~~~~c, Protect 858,563 4,184,273 0 0 0 0 0 0
52 9013 Maas Fencer rieno. ,t ns 0 0 0 50,000 50.000 0 0 0
53 Subtotal Public Improvements. 858;563 4,184;273 0 50;000 50,000 0 0 0
54 Economic Revitalization
55 5119 EconomicDevelopment Promotion 3,735 885, , 0 0 0 0 0 0
56 '5452 Central Petaluma Specific Plan 298j747 63;147 39,278 20,000 178,000 158,000 0 0
57 8518; Land Use.Study-No: McDowell/,ORH 0 0' 0 0 0 0 •0 0
58 8519 Corona<Reach Specific Plan 83,550 2,765 213,447 0 0 0 0 _ 0
59 8530 Auto Plaza Projecti 19,493 6,952 1,1.32 2,000 2,000 0 2,000 2,000
60 ~ ;8,609 Assessmen4`District#19.Auto Plaza 76;375 0 0 0 0 -0 0 0
61 9992 :CBD PropertyA"cquisition 0 4,900 0 . 0 0 0 <0. 0
62 Subtotal Economic;Revitalization 479,900 78,629 253,857 22,000 180,000 158;000 2,000 2,000
63 PassthrouyhslLoans/Interest
64 b507 Passun~ugh Payments to Others 1,438,061 1,677,646 1,894,338 2,055,951 2,339,076 283;125 2,572,983 2;830;282
65 5514 ',P,ayment iif Loa'h Interest to Fund'903 0 0 59,51,8 0 0 0 0 0 _
66 .8540 PGDC Loans & Assessments 23,728. 23,966 31',866 25,000 25,000 0 25,000 25;000
67 Subtotal Passthroughs/LoansllnteresY 1,461;789; 1,701,612- 1.;985;722 2,080;951 2,36x,076 283;125 2,597,983 2,855;282
68
69 TOTAL EXPENDITURES 6,984,024 6,286;248 3,540,296 3,126;009 3,015,926 489;917 5,001_,224 3;325,588
Cityof:Petaluma, California.- Peta4uma _Commuriity'Developmerit Commission
'"t. x5/21/01 10:.14 AM,PCDC2000Mdy~Frest2001p~oplBudgetl.XLSrPCDC:detail T
COMMUNITY'DEVELOPMENT PROJECT,AREA.
t 'REVENUES AND EXPENDITURES
FY 2000-01 MID-YEAR'FIN4NCIAL'FORECAST
REVENUES AND EXPENDITURES'BY PROJECTAREA FY 97e98 FY 98-99 FY 99-00 FY 00-01 FY 00-01 Increase/ FY 01-02 FY 02-03
Actual Actual Actual Budget Revised (Decrease) Proposed ,Projected
Budq_et
70 TRANSFERS OUT
71
72 Transfers to,Low/Mbd.Housing Fund 903 790,420 945;246 1,033,103 1,212,963 1,380,000 167,037 1,518,000 1,669,800
73 Transfers ouf to Debt Service Fund 904
74 Tax Allbcation Bonds (1992A) 423;359 422,211 298,015 429,006 391,549 (37,457) 433,681 432,281
75 Surety for 1992A TABS (In lieu of Reserve) 0 0 0 21,000 0 (21,000) 0 0
76 Tax Allocation Bonds (2000) 0 0 0 1,136,282 1,116,048 (20,234) 1,112,189 1,1,1,1,439
77 AgPeement Obligations(AD19 &Benson) 120,750 297,857 333,529 1,028,491 1,023.491 0 716,336 800,847
78 Transfers Out to Marina Fund 607
79 Operations/Debt Service Shortfall 52;500 52,500 52,500 52,500 52.500 0 52,500 26,250
80 Marina Dredging 144;000 0 0 0 0 0 0 0
81 Transfers Outto'Storm Drain Mitigation Fund 210
82 Payran Reach Flood ManagemenfProject 0 0 4;_887,179 6,800,000 0 (6,800,000) 0 0
83 Turriing;Basin Dredging 0 0 0 0 0 0, 0 100,000
84 Transfers,Out;to,CBDiFund 901; 0 10;000 0 438,308 0 (438;308) 0 0
85 Subtotal TranSfers!;Qut 1;531_;029 1,727;814 6,604,326 11;118,550 3.966,538 (7,,149;9Ei2) 3;832,706 4,140;617 '
~85a Interfund; Loan to`CBD,Fund 90.1 0 0 116,000
86
87 'TOTAL EXPENDITURES•ANDTRANSFERS OUT 8,515,053 8,014,062 10,260,622 14,244,559 7,534,514. (6,660,045) 8,833,930 7,466,205
88
89 ENDING FUNDS AVAILABLE 893;277 (1,890,057) 11,591,436 3,922,893 11,974,279 8,051,386 10,028,963 1'1,461;758
90
91
92 RESERVED~FUNDS
93 Reserve for-0vercrossing 801;378 0 0 0 0 0 0 0
94 Reserve foF Corona Reach Specific Plan 91;899 238,346 0 0 0 0 0 0
95 Reserve for Payrari.Reach Flood Project 0 0 6,800,000 0 0 0 6,800;000 6;800;000
954 Reserve forProjects ih.the "S-Year Implementation 0 0 0 6,s0oAOo
96 Reserve for Contingiencies 0 0 0 50,000 50,000 0 50,000 50,000 '
97
98 UNRESERVED FUNDS AVAILABLE. 0 (2,128,403) 4,791,436 3,872;893 5.124,2; 9 1,251,386 3,178,963 4,611;258.
_ 99
•100 CUMULATIVE INTERFUND LOAN TO CBD FUND 901 116;000 0 ~ 367,454' 438,255 2;386,192
" X5_/21/0110:14 AM,PCDC2000MidyrErest2001proplBudgetl.XLSPGDG,detail8
City of Petaluma;°California -Petaluma Community Development Commission
5/21/01 10;'14 AM PCDC2000ty1idyrFPcst2001 proplBudgetl.XLS,PCDG detail 9
LOW & MODERATE INCOME HOUSING FUND
_
REVENUES AND EXPENDITURES
FY 2000-01 MID-YEAR FINANCIAL FORECAST
REVENUES AND EXPENDITURES BY PROJECT AREA FY 9Z-98 FY 98-99 FY`99-00 FY 00-01' FY on-o1 Increase/ FY 01-02 FY 02-03
Actual Actual Actual: Budget Revised (Decrease) Proposed Projected
Budget
LOW/MODERATE-.INCOME HOUSING FUND
1 REVENUES & TRANSFERS IN
2
3 Beginning'Reserves for Projects 9;894 13,956 15,846 17,746 17,746 0 18,000 18,000
4 Beginning Projects Available 2,463,067 2,452,882 2,140,404 1;845;354 1.979,413 134,059 328,482 979,707
5 Other Revenues 256,970 136,640 .210,517 126,950 126.950 0 32;950 32;950
6 Transfers In from Other Funds 1,127,108 1,035,421 1,126,650 2,701,941 2,877,137 175,196 1,6.18;775 1;774,350
7 TOTAL REVENUES & TRANSFERS IN 3,852,039 3,638;899 3,493,417 4;691,991 5,001,246 309,255 1,998;207 2,805,006
8
9 EXPENDITURES & TRANSFERS OUT
10 .
11 ProjectAdministrston 146;740 169,790 151,9.46 256,750 256.750 0 160;000 165,000
12. Projects, „
13 Homelessness;;(Prevention, Shelter,Services) - 455;539 255,478 606;363 1,639,600 1,779.600 140,000 661;600 674;000
14 Transitional'Housing 175,936 155;995 '49,317 157,400 112,400 (45;000) 40,000 40,000
15 ~FamilyRental Projects - 100,300 1:71,197 .458,974 1,618,050 1,610,050 0 29,400 29,400
16 SenioiProjects/Programs 642j846 84,816. '84',268 673,164 673,164 0 2,000 2,000
1Z IHoinedwriei'ship/Rehabilitation Programs 35,280 23;930 31,260 62,500. 62,500. 0 27,500 27,500
18 CommunityRevitalizafion,Programs 0 16;341 1.15,804 152,300 .152.300 0 80,000 80,000
19' Tdtal Projects 1,555,841 1,377;547 1,497,932 4,559;764 4,654.764 95,000 1,000,500 1,017,900
20 Transfers (In).Out foP Loaris/Adjustments (165,640) 105,102 (1,674) 0 0 0 0
21
22 Reserves for Future Projects
23 Mobile.Home Rent Control 13;956 15;846' .17,746 18;000 18,000 0 18,000 18,000
24 Reserve for Land:Acguisition A 0 0 0 0 0 0 0
25 Urispecified Housing,Projects 2,452;882 2,140;40.4- 1,979,413 ~ 114,227 32F.482 214;255; 979,707 1;769,106
26
27 TOTAL,EXPENDITURES; TRANSFERS OUT. 3,857;039 "3,638,899 3,493,417 4,691,991 5,001.246 309;255 1,998;207 2,805,006 ,
28 &,RESERVES
29
30, UNRESERVED FUNDS AVAILABLE 0 (0) 0 0 0 0 0 0
City of;P-,etaluma;:California -Petaluma Community Development!Commission.
5/21/01 10:14 AM PCDC2000MdyrFrest2001 proplBudgetl.XLS PCDC detail 10
LOW &;MQDERATE' INCOME: HOUSING.FUND:..
REVENUES AND. EXPENDITURES
FY 2000-01 MID-YEAH FINANCIAL:FORECAST
REVENUES AND'EXPENDITURES BY PROJECT AREA FY 97-98 FY 98=99 FY 99-00 FY,'00-01 FY o0-01 Increase/ FY 01-02 FYD2a03
. Actual Actual Actual Budget Revised (Deer"ease) Proposed Projected
_ ~ Budget
LOW/MODERATE INCOME HOUSING FUND
1 Beginning Reserves forProjects. 9,894. 13,956; 1,5,846• 17,746 17,74E , 0 18,000 18,000
2 Beginning Funds Available 2;463;067 2;452,882- 2,140,404 1;845,354 1,979.413 134,059 328,482 979,707
3
4 REVENUES
5' Irivesfinentlnterest ]47,645 108,782 157,248 110,000 110,000 0 11,000 11,000
6 Mobile Home Rent Control Admin 5,990 1,920 1,875 1,950 1,950 0 1,950 1,950
,Intergovernmental Revenue 0 0 37,914 0 0 0 0 0
7 Other Revenue 103,335 25,938 13,480 15;000 15,000 .0 20,000 20,000
8 TOTAL REVENUES 256;970 136,640 210,517 126;950 126,950 0 32,950 32;950
9
10 TRANSFERS IN.
11 FromBCDCProjectAreas 877;108 1;035,421 1,126,650 1,301,941 1,x77,137 175,196 1,618;775 1,774,350
12 From City Housirig In-Lieu Fuhd 250;000 0 0 1,400,000 1,400,000 0 0 0
13 TOTAL TRANSFERS IN 1,127,108 1,035;421 1,126,650 :2,201,941 2.8'7,137 175,196 1,618;775 1,774,350
14 •
15 TOTAL REVENUES &'TRANSFERS IN 3,857,039 3,638;899 3;493;417 4,691,991 5,001.246 309,255 1,,998;207 2;805;006
16 EXPENDITURES
17 Homelessness (Prevention, Sheiter,Services)
18 ~41~ Renia~.+ssi~tance P,rogYam (PPSC) 0 0 25;000 25,000 0 2;500 2';500:
19 5417. Singles ShelterlProgram (COTS) 37,709_' .37;992 43;909 52;000 52,000 0 79,100 51,500
20 5425 'Mediation assistance Pool (PPSC) 75,789 52;060 78,302. 92;000 92,000 0 95,000 97,000
21 5436 Family Shelter Program/Maint (COTS) 230,264 235;668 286,116 226;400; 226,.100 0 259;000 263,000
22 5440 Homele§s•FacilityMaintenance 3,509 33;047 10;547 45;000. 185,000 140,000 50;000 50;000
23 :5443 Housing Opportunity'SiteAcq (BH). 26,912 .236,309 526 0 0 0 0 ~ 0
24 5456 Homeless Shelter%Opportunity Center 73;446 105;006: 153,786 179;200 179,200 0 12.3;000 178,000
25 9725 Opportunity Center Facility- UST Mohitor .3,865 12;514 24;015 20,000 .20,000 0 .3;000' 2;000
26 5462 Rehab Dorm (COTS) 0 750 0 0 0 0 0 0
27 5457 Armory Facility Set;ASjde 4,046 7,132 8;862.. 1,000;000 1,000.000 0 0 0
28 Subtotal Homelessness 455,539 755,478 606;363 1,639;600 1,; 7s,6oo 140,000• 661,,600 674;000
29 Transitional Housing
30 5468 "Transitional Housing /Path (BARMY) 7,892 .31;689 49,317 50;000 50,000 0 40,000 40;000.
31 5445 Supportive Shared Housing (COTS) 167,244 128;306, 0; 107,400 62,400 (45,000) 0 :0
32 SubtotaCTransitional Housing 125;136 15b,995 49;317 157;400 112.400 (45;000) 40;000. 40;000
• 33. .Family. Rental Projects
_34 ~5432•~ FEI `.~V ~,~,e.tBH) ;71;000 143;0.12 37,8;021 "3.85;800. 385.800 ~ 0 ~0' 0 ~ ,
35 8550 Low/Mod•Existing„Housing Support 22,884 -28,185 19;554 '29;400 29,doo 0 29;400 ,29,400
36 5465 CPSP Area Housing;,(EDEIJ) 1,416 0 61;399 1;202;850 1,202,x50 0 0 _ 0 '
37 SubtotaLFainily'Rentals. 100,300 171,197 458,974` 1;618,050. 1,618,_050 0,. 29;400. 29';400
City of Petaluma;,:Califomia -.Petaluma Community.Developmeht Commission
"5/21/01 10;14 AM PCDC2000MidyrFrest2001proplBudgetl.XLS PCDC detail 1.1 `
LOW & MODERATE INCOME HOUSING FUN_U
REVENUES AND EXRENDITURES
FY 2000-01 '.MID-YEAR FINANCIAL FORECAST ,
REVENUES AND EXPENDITU_ RES BY PROJECT AREA FY 97-98 FY 98-99 FY 99-00 FY 00-01 FY 00-01 Increase/ FY 01-02 FY 02-03
Actual Actual Actual Budget Revised (Decrease) .Proposed Projected
Budget
38 Senior'ProjectslProyrams
39 5431 Vallejo Street Phasell;(PEP) 323;548 0 0 0 0 0 0 0
40 5444 Mobile•Home Rent Control 1;928 30 65 2,000 2.000 0 2,000 2,000
41 5450. Salishan Apartmenfs. 7;214 0 0 0 0 0 0 0
42 5466; EditllSt.,SeniorApts{PEP) 310,156 84,786 84,203 436,164 436,168 0 0 0
43 5471 Vintage Chateau Public Improvements 0 0 0 0 0 0 0 0
44 5474 Douglas Street Senior Project (PEP) 0 0 0 235;000 235,000 0
45 Subtotal Senior Projects 642,846 84,816 84,268 673,164 6; 3,161 0 2,000 2,000
46 HomeownershiplRchabilitation Programs
47 5429 `,~~s.cr!a ti.ENj 0 0 0 0 0 0 0 0
48 5437 Mortgage Certificate Program 0 0 0 2,500 2,500 0 2,500 2,500
49 5438 :URM L/M Income Housing Rehab 0 0 0 0 0 0 0 0
50 5467 Below'Market'Rate Admin (BHDC) 20;000 0 0 0 0 0 0 0
b1 ~ 5459 "Christmas In April" Housing-Rehab 15;280 23;930 31,,260, 60,000 60,000 0 25,000 25,000
52 Subtotal Homeownershin!Rehabilitation 35;280 23,930 31,260 62,500 62,500 0 27,500 27,500 "
53 Cornrnunity Revitalization Programs -
54 .5453 McNearPark Senior Apts (PEP) 0 0' 24,304 25;000 25,000 0 0 0
55 5469 Neight5drhood Revitalization 0 6,004 91',143 107,300 107,300 0 80,000 80,000
56 ':5470' 'Low/Mod.Disaster,Recovery Program 0, 10;337 357 20;000 20.000 0 0 0
57 Sutitotal Community Revitalizatioh 0 16,341 '715,804 152,300 152,300 0 80,000 80,000
58 Administration/Programs
59 54V1 Housing Projects•Management 146740 169,790 151,946 256;750 256,750 0 160,000 165,000
60 Subtotal Administration 146,740 169,790 151,946 256,750 256.750 0 160,000 165,000
61
62 TOTAL EXPENDITURES 1',555,841 .1,377;547 1,497,932 4;559;764. 4,654,7f,1 95;000 1,000;500 1,01:7,900
6& Other (Sources): & Uses - •
64 Equity.Aiijustments :Park Ln, IH, Salishan ,(165,640) 105;•1,02 (1;674) 0 0 0 0 0
66
67 TOTAL EXPENDITURES 8 ADJUSTMENTS 1,390,201 1.,482;649 1;496,258 4;559,764 4,654.764 95;000 1,000;500 1;017,900
68 -
69 ENDING FUNDS,AVAILABLE 2;466,838 2,156;250 1',997,159 132;227 386,482 214;255 997,707 1,787j106'
70 - -
71 RESERVED FUNDS
. .
72 Mobrle,Home Rent Control 13',956 15;846 17,746 18;000 18,000 0 18,000 18:000
73 Reserve for Land Acquisition 0 0 0 0 0 0, 0 ~ 0
74 Uhspecifed Housing Rrojects .2,452;882_ 2,140;404 1,979,413 114;227 ' 320,182 214',255 979.707 1,769,1 Q6 ' _
75
76 UNRESERVED FUNDS AVAILABLE 0 (0) 0 0 0 f0 0 ~ 0
City of Petaluma, California -Petaluma-Community Development Commission
5/21/01 10;14:AM`PCDC2000MidyrFrest2001propl_Budgetl:XLS PCDC detail,l2
' bEBT SERVICE FUND
REVENUES &;EXFENDITURES ,
FY 2000-01 .MID=YEAR FINANCIAL FORECAST
REVENUES AND EXPENDITURES BY PROJECT AREA FY 97-98 FY 98-99 FY 99-00 FY 00.01 FY 00-01 Increase/ FY 01-02 FY 02-03
Actual Actual Actual Budget Revised (Decrease) Proposed Projected
' Budget
DEBT SERVICE FUNDS
REVENUES AND TRANSFERS IN
1 Beginning Reseries 795,701 255,757 775,663 571,600 621,840 50,240 113,026 161,626
2 Other Revenues 32,414 28,947 32,524 6,900 179.659 172,759 0 0
3 Transfers in from Other Funds 611.,297 851,704 714,498 2,750,579 2.558,688 (191,891) 2,310,806 2,476;567
4
5 TOTAL REVENUES AND TRANSFERS IN 1,439;412 1,636,408 1,522,685 3,329,079 3,360,137 31,108 2,423,832 2,638,193
6
7 EXPENDITURES AND TRANSFERS OUT
8
9 Debt Service.Payments, 683,655 860,745 900,845 2,750,579. 2,709,179 (41,,400) 2,262,206 2,344,567
10 TransfersOutto'Other„Funds ~ 0 0 0 406,000 407,357 1,357' -0 0
11 Reseryes;for Debt Service 755;75T 775,663 :621;840, 172,500 113,026 (59,474) 0 0 '
12
13 TOTAL EXPENDITURES AND TRANFERS>OUT 1,439;412 1,636,408 1,522;685 3,329,079 3,229,562 (99,517) 2,262,206 2,344,567
City of Petaluma, California..- Petaluma Community:DevelopmeritCommission
5/21/01 1014•AM'FCDC2000MidyrFrest2001proplBudgetl,XLS PCDC;detail 13
~
• `DEBT SERVICE FUND"
REVENUES & EXPENDITURES
FY 2000-01 MID-YEAR FINANCIAL FORECAST
REVENUES AND EXPENDITURES BY PROJECT AREA FY 97-98 FY 98-99 FY:99-00 FY 00-01 FY 00-01 Ihcrease/ FY 01-02 FY 02-03
Actual Actual Actual Budget Revised (Decrease) Proposed Projected.
Budget
DEBT SERVICE
1 BEGINNING'DEBT SERVICE;RESERVE 795,701 755,757 775,663 571,600 s21,a4o 50;240 113,026 161,626
2
3 REVENUES AND TRANSFERS IN
4 Jnteresf"Earnings 32,414 28,947 32;360 6,900 13.935 7,035 0 0
4a OthecRevenue 0 0 164 0 0 0 0 0
5 New2000B TAB Proceeds 0 0 0 0 165,724 165,724 0 0
6 TOTAL REVENUES 32,414 28,947 32,524 6,900 179,659 172,759 0 0
7
8 TRANSFERS,IN 611.,297 851,704 714;498 2,750;579 2,558,688 (191,891) 2;310,806 2,476;567
9
10 TOTAL REVENUE$,AND TRANSFERS IN 1,439,412 1,636,408 1,522,685 3,329,079 3,360,137 31,108. 2,423,832 2,638,193 .
_
11
' 12. EXPENDITURES.AND TRANSFERS OUT
13
14 8608 1992A Tax•Allocation Bonds 424,029 424,891 427,926 429,006 429,006 0 433,681 432,281
15 8607 `1984"Tax"Alldcations`Bonds 138;876- 130,210 135,422 135,800 0 (135_;800) 0 0
16 8609 ADr#19.Auto Plaza(Pu61ic'Imp.) 120;750 118,579 116,474 123;000 123,000 0 124,000 124,000
17 8611 Auto P,,Iaza.Note (Benson Land'Repay) 0 183,475 221,023 _ 905;491 905,491 0 592,336 676,847
18 8612 2000ATax°AllocationBonds'(TAB) 0 0 0 1,136,282 1136.282 0 1,112,189 1,111,439
18a 8613.20008 Tax Allocation Bonds!;(TAB) 0 0 0 0 22,606 22;600
19 8608 New TAB Cost;of,lssuance 0 3,590 0 21,000 92,800. 71,800 0 0
20 TOTAL EXPENDITURES 683,655 860,745 900,845 2;750;579 2,709,179 {41,400) 2;262,206 2,344,567
21
22 TRANSFERS OUT 0 0 0 406,000 407,357 1,357 0 0
23 ,
24
25 TOTAL EXPENDITURES AND TRANSFERS OUT 683;655 860,745 900,845 3;156;579 3,116,536 (40,043) 2,262;206 2;344;567 _
26
26a DEFEASE1984TABS 0 0 0 0 130,625 0 0-
27 _ _ •
28 ENDING FUNDS AVAILABLE' 755,757 775;663 621.,840 172;500 113,026 (59,474) ~ ~ ~ 's
2g
30 RESERVED FUNDS
31 For 1984 Bohd 171,552 176',735 129;402 172_,500, 577 (171,923) 0 0'
32 For 1992.Bohd Refunding 584,205 598;928 463,854 0 0 0 0 0 =
33 ForNew TAB Bdnds 0 D 28,584 0 112,449 1.12;449 0 0
34 _ _
35 UNRESERVED FUNDS AVAILABLE 0 -0 0 0 0 (0; ~ i r j _
City of Petaluma, California -Petaluma Community Development Commission
" 5/21/01 10:14 AM PCDC2000MidyrFrest2001proplBudget1.XL$ PCDC detail 1'4
~,T Exhibit A
i Z®®®-®~
id-Year Financial F®recast
(Explanation of Adjustments & Line-Item Detail)
FY 2000-01 PCDC Mid-Year Financial Forecast
The following details the proposed changes to the Petaluma Community Development
Commission FY 2000-01 Budget originally adopted. on June 26, 2000. The changes are
reflected in the budget detail worksheets in Attachment II.
Central Business District Project Area )Fund (901):
® FY 2000-01 Beginning Fund Balance: After the completion of the annual audit,
the FY 2000-01 Beginning Fund Balance was a negative (-$114,645) less than
anticipated.
® Property Taxes: Property Taxes are accruing at a higher rate than originally
anticipated. The year-end projection assumes an additional $40,792.
® Transfers-In: The Finance Department has suggested that the interfund loan
provided by Community Development Project Area Fund 902 be reflected as a
loan rather than atransfer-in. This results in a reduction of ($438,308) in
transfers-in.
® SB-2557 Collection Fees: Fees will increase by $928 based because they are
based on a percentage of property taxes. As property tax revenue increases, so do
these fees.
® URM Project: Activity in the unreinforced masonry project is very slow.
Therefore, the budget has been reduced to $45,000 to reflect this. Funds that were
originally set aside for this purpose will be appropriated in next year's budget, as
it is not a question of "if' the funds will be used, but "when" the funds will be
used.
® Downtown Association: An additional $3,465 was appropriated for a special
project to clean the downtown sidewalks.
® Plaza Restroom Maintenance: An additional $3,000 is being appropriated to
perform extraordinary repairs needed to maintain the restrooms.
® Assessment Credits: The adopted .Budget underestimated that amount of
assessment credits necessary to cover the parking assessment district debt service.
Therefore, an additional $3,441 is appropriated.
® Transfer-Out to the Housing Fund: This is a percentage of property taxes. As
property taxes increase, so does the transfer out. The transfer-out increased by
$8,158.
® Transfer-Out to Debt Service Fund for 1.984-A TAB: This transfer decreased by
$135,800 because the Tax Allocation Bond was refinanced and the proceeds of
the refinancing and the liquidation of the old reserve were used to pay the debt
service.
® Transfer-Out to Debt Service Fund for 2000-B TAB: When the 1984-A TAB was.
refinanced, a new 2000-B TAB was the purchased. The first year debt service on
the bonds is $22,600 and is therefore included in a new budget appropriation.
® lnterfund Loan: Anew line item is reflected in the budget to reflect the
cumulative loan from the PCD Project Area Fund 902. This line more accurately
accounts for the debt between the two funds. The new line reflects a cumulative
loan of $367,454.
Community Development Proiect Area (902).:
• Beginning Reserves for Projects: In the FY 2000-01 Adopted Budget, $6.8
million was transferred out to the Drainage Fund (210) to potentially fund
improvements to the Petaluma River Flood Control Project. The City recently
obtained legislation that shifted the financial responsibility for the project back to
the Federal government. Therefore, $6.8 Million is being transferred back to the
Petaluma Community Development Project Area Fund (PCD) and will be
available from projects identified in the agency's "Five-Year Implementation
Plan".
• Beginning Fund Balance: The FY 2000-01 Beginning Fund Balance was
$304,798 higher than originally anticipated. This is primarily due to lower than
anticipated expenditures and transfers out to other funds.
® Property Tax Increment: Figures provided by the County of Sonoma reflect a
24% increase in property tax increment to the project area over the prior year
actual. This is an increase of $1,319,926.
• Interest Earnings: The Finance Department estimates that the interest earnings
will exceed the original estimate by $140,000.
® Property Owner Contributions: $60,000 in revenue from the LOK Marina Hotel
project has been included in the forecast. This amount reflects the costs incurred
for legal and professional expenses associated with the project.
• Proceeds of 1992 Bond Reserve: The Finance Department estimates that the
proceeds of the bond reserve are $1,357 larger than originally anticipated.
® Transfer In From Drainage Fund (210): In the FY 2000-01 Adopted Budget, $6.8
million was transferred out to the Drainage Fund (210) to potentially fund
improvements to the Petaluma River Flood Control Project. The City recently
obtained legislation that shifted the financial responsibility for the project back to
the Federal government. Therefore, $6.8 Million is being transferred back to the
Petaluma Community Development Project Area Fund (PCD) and will be
available from projects identified in the agency's "Five-Year Implementation
Plan".
• SB 2557 Collection Fee: This fee is 2.25% of the property tax increment. As the
increment grows, so does the fee. The fee is estimated to increase by $18,792.
• Marina Hotel Study: $60,000 in expenses for the LOK Marina Hotel project has
been included in the forecast. This amount reflects costs incurred for legal and
professional expenses associated with the project.
• URM Project: Appropriations for the Unreinforced Masonry Project have been.
reduced by ($30,000) to reflect the low level of activity. Funds that were
previously allocated for this purpose will be reallocated in next year's budget.
• Central Petaluma Specific Plan (CPSP): An additional appropriation of $158,000
has been requested by the Community Development Department in order to finish
work on the CPSP as follows:
? $60,000 Completion of EIR and.. related materials;
? $68,000 Utility Study;
? $10,000 Parking Study; and
? $40 000 Development Guidelines and Regulations.
$178,000 Total
e Passthrough Payments to Others: Approximately 34% of Tax Increment is passed
through to other taxing agencies. As the tax increment increases, the amount of
passthrough also increases. Based on the County's latest property tax figures, an
additional $283,125 is appropriated.
o Transfer Out to Low/Moderate Income Housing Fund: With the projected
increase in the Tax Increment, the 20% share allocated to the Housing Fund also
increases. Therefore, an additional appropriation of $167,037 is appropriated.
• Transfers Out to the Debt Service Fund: A decrease of ($78,691) in transfers to
the Debt Service Fund (904) is included in the revised budget. This is a function
of the elimination of certain debt reserves that occurred when Tax Allocation
Bonds were recently refinanced. Please find a more detailed spreadsheet attached
to the Debt Service Fund mid-year financial. forecast.
® Transfer Out to Drainage Fund (210): A transfer out of $6.8 million has been
eliminated in the Revised Budget. $6.8 million is being transferred back to fund
902.
® Transfer Out to CBD Fund 901: A transfer out of $438,308 has been eliminated
based on the suggestion by the Finance Department to develop aline-item for a
loan to Fund 901.
® Reserve for Projects in the "Five-Year Implementation Plan": $6.8 million
transferred back from Fund 210 is allocated to a reserve for projects established in
the agency's "Five-Year Implementation Plan". The plan states: "To the extent
that Federal or State funding can be obtained to build this project (Payran Reach
Flood Control Project), savings can be reallocated to the implementation of the
following:
? Central Petaluma Specific Plan;
? Petaluma River Access & Enhancement Plan;
? Bicycle Plan; and
? Transportation Improvements."
® Cumulative Interfund Loan to CBD Fund 901: Anew line has been added to the
report that identifies the cumulative amount of the interfund loan to the Central
Business District Project Area Fund 901. The cumulative loan amount projected
by the end of the fiscal year is $367,454.
Low & Moderate Income >EIousing Fund (903):
® FY 2000-O1 Beginning Fund Balance: Subsequent to the annual audit, the
beginning balance is increased by $134,059.
® Transfers In From PCD Project Area Funds: Due to higher than anticipated
Property Tax Increment in the CBD and PCD Project Areas, the Housing Fund's
20% share is proportionately increased by $175,196.
• Facility Maintenance: This account is increased by $140,000 by: 1.) transferring
$45,000 from account 5445 (Supportive Shared Housing), and 2.) appropriating
$95,000 from the Reserve for Unspecified Housing Projects. The purpose of
these funds is to rehabilitate the vacant house at 27 Howard Street and convert the
use to office space for the PCDC staff. The facility requires extensive
rehabilitation. As full staffing occurs at City Hall, there is insufficient office
space for the PCDC staff. 27 Howard Street was originally purchased by the City
using the General Fund, for the intention of expanding City Hall. Occupancy by
the PCDC staff will generate monthly rent to the General Fund based on market
rates.
• Reserve For Unspecified Housing Projects: Due to the increase in projected
revenue and a higher beginning fund balance, the reserve will increase by
$214,255. This includes an appropriation of $95,000 for repairs to 27 Howard.
Debt Service Fund (904):
• FY 2000-01 Beginning Debt Service Reserve: The beginning reserve has been
increased by $50,240 based on activities associated with the refinancing of debt.
• Interest Earnings: Earnings are projected to increase by $7,035 due to larger
balances.
• New 2000-B TAB Proceeds: Revenue from the proceeds of refinancing the 1984
TABS in the amount. of $165,724 was not anticipated in the adopted budget and
are now included in the forecast.
• Transfers In: A reduction of $191, 891 in Transfers In from other PCD Project
Area funds is included in the budget adjustments as part of the activities
surrounding the refinancing debt.
• 1984 TAB: As the bonds were refinanced, an appropriation of $135,800 has been
eliminated.
• 2000-B TAB: As the debt service on the new bonds was not anticipated in the
adopted budget, $22,600 is included for first year debt service.
• New TAB Cost of Issuance: As the cost of issuance for new TABs was not fully
included in the adopted budget, $92,800 is added to the mid-year forecast.
• Transfer Out: An additional $1,357 in transfers out is included in the forecast due
to actual costs associated with debt service of the 1992 TAB.
• Defease 1984 TABS: The cost of defeasing the 1984 TABS was not anticipated in
the adopted budget and is included in the forecast.
• Reserved Funds: $577 is set aside for minor expenses associated with the
remaining activities to close out the 1984 TABS. $112,449 is set aside for the
2000 TABS as follows:
? 2000-A TAB: $ 10,000
? 2000-B TAB: $102,449
Total: $112,449