HomeMy WebLinkAbout101-Treasurer's Report for the Month Ended October 31, 2008.pdf
SARATOGA CITY COUNCIL
MEETING DATE: January 7, 2009 AGENDA ITEM:
DEPARTMENT: Finance & Administrative Services CITY MANAGER: Dave Anderson
PREPARED BY: Ann Xu, Accountant DEPT HEAD: Mary Furey, Director
SUBJECT: Treasurer’s Report for the Month Ended October 31, 2008
RECOMMENDED ACTION
The City Council review and accept the Treasurer’s Report for the month ended October 31, 2008.
REPORT SUMMARY
California government code section 41004 requires that the City Treasurer (the Municipal Code of the
City of Saratoga, Article 2-20, Section 2-20.035, designates the City Manager as the City Treasurer)
submit to the City Clerk and the legislative body a written report and accounting of all receipts,
disbursements, and fund balances.
Section 41004. Regularly, at least once each month, the City Treasurer shall submit to the City
Clerk a written report and accounting of all receipts, disbursements, and fund balances. He shall
file a copy with the legislative body.
The following attachments provide various financial data and analysis for the City of Saratoga’s Funds
collectively as well as specifically for the City’s General (Operating) Fund, including an attachment from
the State Treasurer’s Office of Quarterly LAIF rates from the 1st Quarter of 1977 to present.
FISCAL IMPACT
Cash and Investments Balance by Fund
As of October 31, 2008, the City had $48,792 in cash deposit at Comerica bank, and $14,321,404 on
deposit with LAIF. Council Policy on operating reserve funds, adopted on April 20, 1994, states that: for
cash flow purposes, to avoid occurrence of dry period financing, pooled cash from all funds should not be
allowed to fall below $2,000,000. The total pooled cash balance as of October 31, 2008 is $14,370,196
and exceeds the minimum limit required.
Cash Summary
Unrestricted Cash
Comerica Bank 48,792$
Deposit with LAIF 14,321,404$
Total 14,370,196$
CONSEQUENCES OF NOT FOLLOWING RECOMMENDED ACTION
The City would not be in compliance with Government Code Section 41004.
ALTERNATIVE ACTION
N/A
FOLLOW UP ACTION
N/A
ADVERTISING, NOTICING AND PUBLIC CONTACT
N/A
ATTACHMENTS
A – Cash Balances by Fund
B – Change in Total Fund Balances by Fund
C – Cash and Investments by CIP Project
D – Change in Total Fund Balances by CIP Project
E – Local Agency Investment Fund (LAIF) Quarterly Apportionment Rates
ATTACHMENT A
The following table summarizes the City’s total cash and investment balances by Fund.
Fund Types Fund Description
Cash & Investment
Balance at
October 31, 2008
General General Fund
Reserved:
Petty Cash Reserve 1,300$
Designated:
Designated for Operations 2,808,164$
Designated for Economic Uncertainty 1,300,000$
Designated for Development Program 782,380$
Designated for Environmental Program 679,917$
Undesignated:1,003,103$
Special Revenue Landscape and Lighting Districts 162,528$
CDBG Federal Grants -$
SHARP Program 112,699$
Capital Project Street Projects 2,236,719$
Park and Trail Projects 1,604,563$
Facility Improvement Projects 972,738$
Adminstrative Projects 198,796$
Tree Fund (17,959)$
CIP Grant Fund (82,767)$
Gas Tax Fund 316,409$
Debt Service Library Bond 201,380$
Internal Service Equipment Replacement 182,719$
IT Replacement 341,782$
Facility Maintenance 297,778$
Equipment Maintenance 52,050$
Information Technology Services 203,435$
Office Stores Fund 42,478$
Liability/Risk Management 100,362$
Workers Compensation 133,218$
Trust/Agency Library Fund 696,742$
KSAR - Community Access TV 39,662$
Total City 14,370,196$
ATTACHMENT B
CHANGES IN TOTAL FUND BALANCE
The following table presents the ending Fund Balances for the City’s major fund types as at October 31,
2008. This table excludes Trust and Agency funds where the City acts merely as a third party custodian
of an outside party’s funds.
Fund Description
Fund
Balance
07/01/08
Increase/
(Decrease)
Jul-Sep
Current
Revenue
Current
Expenditure Transfers
Fund Balance
10/31/08
General
Undesignated Unreserved Balance 3,141,836 (1,946,860) 810,791 1,625,649 380,118
Reserved Fund Balance:
Petty Cash Reserve 1,300 - - - 1,300
Designated Fund Balances:- -
Designated for Operations 2,808,164 - - - 2,808,164
Designated Economic Uncertainty 1,500,000 (200,000) - - 1,300,000
Designated for Development 782,380 - - - 782,380
Designated for Environmental 679,917 - - - 679,917
Special Revenue
Landscape/Lighting 209,821 (17,081) 11,548 46,164 158,125
CDBG Federal Grants - - - - -
SHARP Loan 93,877 (67) - - 93,810
Capital Project
Street Projects 2,432,995 (34,296) - 75,288 - 2,323,411
Park and Trails 1,627,399 (27,744) 102,667 149,027 - 1,553,295
Facility Improvements 994,315 (52,583) - 15,102 - 926,630
Adminstrative Projects 219,841 (5,396) - 10,254 - 204,191
Tree Fund - 1,647 200 19,806 - (17,959)
Grant Fund - 34,576 77,152 194,494 - (82,767)
Gas Tax Fund - 86,708 41,287 400 - 127,596
Debt Service
Library Bond 853,620 (658,346) 6,081 - 201,355
Internal Service Fund
Equipment Replacement 98,109 48,259 50,000 13,651 182,718
Technology Replacement 316,310 12,647 12,826 - 341,782
Building Maintenance 101,361 67,208 201,771 79,085 291,254
Equipment Maintenance 13,412 13,377 62,500 24,964 64,325
Information Technology Services 122,541 6,064 101,017 32,035 197,588
Stores Fund 32,616 (4,423) 16,138 1,853 42,478
Liability/Risk Management 128,689 (99,137) 71,567 839 100,280
Workers Compensation 47,736 20,875 65,230 649 133,192
Total City 16,206,240 (2,754,570) 1,630,774 2,289,262 - 12,793,184
ATTACHMENT C
CASH AND INVESTMENTS BALANCES BY CIP PROJECT
The following table details the cash balances for each project in the Streets, Parks & Trails, Facility
Improvements, and Administrative Project Program Funds.
CIP Funds/Projects
Cash & Investment
Balance at
October 31, 2008
Street Projects
Traffic Safety 11,757
Highway 9 Safety Project 82,460
Annual Street Resurfacing Project 465,283
Sidewalks Yearly Project 120,075
Saratoga Sunnyale Road Resurfacing (114,321)
Traffic Signal @ Verde Vista Lane 90,000
Fourth Street Bridge 100,000
Highway 9 and Oak Place Pedestrian Sign (16,188)
Quito Road Bridge Replacement 9,730
Quito Road Bridge Construction 115,726
Village Newsrack Enclosur 23,384
Village Façade Program 19,430
Solar Power Radar Feedback Signs 24,158
El Quito Area Curb Replacement 37,552
Sobey Road Culvert Repair 150,000
Village Trees & Lights at Sidestreets 31,965
Village Pedestrian Enhancement 115,000
Prospect Road Median 201,556
City Entrance Sign/Monument 23,788
Village-Streetscape Impv (Sidewalk, Curbs)540,665
Saratoga-Sunnyvale ADA Curb Ramps (2,525)
Saratoga-Sunnyvale/Gateway Sidewalk 57,224
Pedestrian Refuge @ Quito/McCoy 150,000
Total Street Projects 2,236,719$
Parks & Trails
Hakone Garden Kol Pond 50,000
EL Quito Park Improvement 118,209
Wildwood Park - Water Feature/Seating 7,199
Historical Park Landscape 37,200
Citywide Tree Replanting 129,566
Hakone Garden D/W 142,829
Hakone Garden Upper Moon House Foundation 125,000
Wildwood Park Improvement (4,543)
Carnelian Glen Footbridge -
DeAnza Trail (77,802)
Kevin Moran Improvements 1,054,996
West Valley Soccer Field (51,412)
Park/Trail Repairs 21,130
Heritage Orchard Path 6,153
Trail Segment #3 Repair 7,912
Teerlink Ranch Trail 22,242
CIP Allocation Fund 15,885
Total Parks & Trails 1,604,563$
Facility Improvements
Civic Center Landscape 13,385
Warner Hutton House Improvements 5,868
Facility Projects 39,735
Fire Alarm at McWilliams & Museum 11,371
North Campus Improvements 421,617
North Campus - Bldg Removal 75,000
City Hall - Cool Roofs 44,000
Multi-Purpose Room Fund 250,000
Corp Yard Solar Project 100,000
McWilliams House Improvement 10,000
Historical Park Fire Alarm System 1,762
Total Facility Improvements 972,738$
Administrative Projects
Financial System Upgrade 8,516
Document Imaging Project 76,675
CDD Document Imaging Project 54,604
Website Development Project 50,000
KSAR Equip Upgrades 9,000
Total Administrative Projects 198,796$
Tree Fund
Tree Fund (17,959)$
CIP Grant Fund
CIP Grant Fund (82,767)$
Gas Tax Fund
Gas Tax Fund 316,409$
Total CIP Funds 5,228,499$
ATTACHMENT D
FUND BALANCES BY CIP PROJECT
The following table details the fund balances for each project in the Streets, Parks & Trails, Facility
Improvements, and Administrative Project Program Funds.
CIP Funds/Projects
Fund
Balance
07/01/08
Increase/
(Decrease)
Jul-Sep
Current
Revenue
Current
Expenditure Transfers
Fund
Balance
10/31/08
Street Projects
Traffic Safety 11,757 - - 836 10,921
Highway 9 Safety Project 82,460 - - 12,331 70,129
Annual Street Resurfacing Project 782,980 (34,296) - 60,931 687,753
Sidewalks Yearly Project 46,436 - - - 46,436
Saratoga Sunnyale Road Resurfacing (178,292) - - - (178,292)
Traffic Signal @ Verde Vista Lane 90,000 - - - 90,000
Fourth Street Bridge 100,000 - - - 100,000
Quito Road Bridge Replacement 9,730 - - - 9,730
Quito Road Bridge Construction 115,726 - - - 115,726
Village Newsrack Enclosur 23,384 - - 77 23,307
Village Façade Program 19,430 - - - 19,430
Solar Power Radar Feedback Signs 24,158 - - - 24,158
El Quito Area Curb Replacement 37,553 - - - 37,553
Sobey Road Culvert Repair 150,000 - - - 150,000
Village Trees & Lights at Sidestreets 31,965 - - - 31,965
Village Pedestrian Enhancement 115,000 - - - 115,000
Prospect Road Median 201,556 - - 1,114 200,442
City Entrance Sign/Monument 23,788 - - - 23,788
Village-Streetscape Impv (Sidewalk, Curbs)540,665 - - - 540,665
Saratoga-Sunnyvale ADA Curb Ramps (2,525) - - - (2,525)
Saratoga-Sunnyvale/Gateway Sidewalk 57,224 - - - 57,224
Pedestrian Refuge @ Quito/McCoy 150,000 - - - 150,000
Total Street Projects 2,432,995 (34,296) - 75,288 - 2,323,411
Parks & Trails
Hakone Garden Kol Pond 50,000 - - - 50,000
EL Quito Park Improvement 118,209 - - - 118,209
Wildwood Park - Water Feature/Seating 7,199 - - - 7,199
Historical Park Landscape 37,200 - - - 37,200
Citywide Tree Replanting 129,566 - - - 129,566
Hakone Garden D/W 142,829 - - - 142,829
Hakone Garden Upper Moon House 125,000 - - - 125,000
Wildwood Park Improvement (4,543) - - - (4,543)
DeAnza Trail (77,802) (8,323) - 1,168 (87,293)
Kevin Moran Improvements 982,259 (3,163) 102,667 40,192 1,041,571
West Valley Soccer Field (58,507) (4,583) - 4,999 (68,089)
Park/Trail Repairs 21,130 (5,521) - - 15,609
Heritage Orchard Path 6,153 (6,153) - - -
Trail Segment #3 Repair 7,912 - - - 7,912
Teerlink Ranch Trail 22,242 - - - 22,242
San Marcos OP Space Trail - - - - -
CIP Allocation Fund 118,552 - - 102,667 15,885
Total Parks & Trails 1,627,399 (27,744) 102,667 149,027 - 1,553,295
Facility Improvements
Civic Center Landscape 13,384 - - - 13,384
Warner Hutton House Improvements 5,868 - - - 5,868
Facility Projects 39,735 10,716 - - 50,451
Fire Alarm at McWilliams & Museum 11,371 - - - 11,371
North Campus Improvements 443,195 (63,299) - 15,102 364,794
North Campus - Bldg Removal 75,000 75,000
City Hall - Cool Roofs 44,000 44,000
Multi-Purpose Room Fund 250,000 250,000
Corp Yard Solar Project 100,000 100,000
McWilliams House Improvement 10,000 10,000
Historical Park Fire Alarm System 1,762 - - - 1,762
Total Facility Improvements 994,315 (52,583) - 15,102 - 926,630
Administrative Projects
Financial System Upgrade 8,516 (1,729) - 3,253 3,534
Document Imaging Project 92,325 (3,666) - 7,001 81,657
CDD Document Imaging Project 60,000 - - - 60,000
Website Development Project 50,000 - - - 50,000
KSAR Equip Upgrades 9,000 - - - 9,000
Total Administrative Projects 219,841 (5,396) - 10,254 - 204,191
Tree Fund
Tree Fine Fund - 1,647 200 19,806 (17,959)
CIP Fund
CIP Grant Fund - 34,576 77,152 194,494 (82,767)
Gax Fund
Gas Tax Fund - 86,708 41,287 400 127,596
Total CIP Funds 5,274,550 (120,018) 102,667 249,671 - 5,034,397
ATTACHMENT E