HomeMy WebLinkAbout7 General Funds Agenda Item ## 7
JRUCKEE DONNER
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Public Utility D
CONSENT
To: Board of Directors
From: Robert Mescher
Date: February 16, 2011
Subject: Authorize Annual Transfers From Designated Funds to the General
Funds
1. WHY THIS MATTER IS BEFORE THE BOARD
Only the Board can authorize transfers from Board designated funds.
2. HISTORY
As part of the approved FY09 Budget, two projects were to be funded from Board Designated
Funds. The first related to the water meter study and installation to be funded from the Water
Meter Reserve. The second related to the District headquarters' covered parking structure to
be funded from the Water Capital Reserve. These projects carried over into FY10.
The roof replacement of the headquarters was approved separately by the Board, subsequent
to the FY10 Budget, to be funded by the Electric and Water Capital Replacement Funds.
In the approved FY10 Budget, there were vehicle replacements, including a service truck and
a dump truck, to be funded by the Vehicle Replacement Funds.
3. NEW INFORMATION
As of December 31, 2010, the accumulated costs of Phase 1 and Phase 2 of the water meter
study and installation total $2,882,053. Last year, the Board authorized a transfer of
$2,132,708 from the Water Meter Reserve Fund to reimburse the General Fund for costs
through the end of 2009. Phase 1 and 2 were essentially completed in FY10 with an additional
cost of $749,345.
The primary construction of the covered parking structure was completed in FY09 and the
Board authorized a transfer of $225,904 from the Water Capital Reserve Fund last year. Since
then, safety enhancements were completed at an additional cost of$62,066.
The roof of the headquarters building was replaced in FY10 and The Board authorized a
transfer of $431,477 from the Electric and Water Capital Replacement Fund to reimburse the
Water General Fund for the contracted work. In addition to the contracted work, there was
District staff labor and materials totaling $2,001.
An Electric service truck was purchased in FY10 and the Board authorized a transfer of
$38,028 from the Electric Vehicle Replacement Fund. There was additional District labor and
materials totaling $958 to prepare the vehicle for use.
A Water dump truck was purchased in FY10 and the Board authorized a transfer of $155,025
from the Water Vehicle Replacement Fund. There was additional District labor and materials
totaling $3,164 to prepare the vehicle for use.
4. FISCAL IMPACT
These transfers will reimburse the Electric and Water General funds from Board designated
funds. Sufficient funds exist in the source funds to facilitate these transfers.
5. RECOMMENDATION
Review this report and authorize the following transfers:
1) Transfer $749,345 from the Water Meter Reserve Fund to reimburse the Water
General Fund for FY10 costs of the Water Meter Study and Installation Phase 1 and
Phase 2.
2) Transfer$62,066 from the Water Capital Replacement Fund to reimburse the Water
General Fund for FY10 costs to complete the Parking Structure.
3) Transfer $1,001 from the Electric Capital Replacement Fund to reimburse the
Electric General Fund for miscellaneous District labor and material costs necessary to
complete the headquarters' roof replacement.
4) Transfer$1,000 from the Water Capital Replacement Fund to reimburse the Electric
General Fund for miscellaneous District labor and material costs necessary to
complete the headquarters' roof replacement.
5) Transfer $958 from the Electric Vehicle Replacement Fund to reimburse the Electric
General Fund for miscellaneous District labor and materials necessary to prepare a
new service truck for use.
6) Transfer $3,164 from the Water Vehicle Replacement Fund to reimburse the Water
General Fund for miscellaneous District labor and materials necessary to prepare a
new dump truck for use.
Robert Mescher Wic-'Ra:::�e'lb. Holley
Acting Administrative Services Manager General Manager