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Home My WebLink About101-Treasurer’s Report for the Month Ended January 31, 2009 .pdf SARATOGA CITY COUNCIL MEETING DATE: March 4, 2009 AGENDA ITEM: DEPARTMENT: Finance & Administrative Services CITY MANAGER: Dave Anderson PREPARED BY: Ann Xu, Accountant DEPT HEAD: Mary Furey SUBJECT: Treasurer’s Report for the Month Ended January 31, 2009 RECOMMENDED ACTION The City Council review and accept the Treasurer’s Report for the month ended January 31, 2009. 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 January 31, 2009, the City had $131,831 in cash deposit at Comerica bank, and $15,940,159 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 January 31, 2009 is $16,071,991 and exceeds the minimum limit required. Cash Summary Unrestricted Cash Comerica Bank 131,831$ Deposit with LAIF 15,940,159$ Total 16,071,991$ 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 January 31, 2009 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 Services 782,380$ Designated for Environmental Services 679,917$ Designated for Uncollected Deposits 289,454$ Designated for Carryforward 58,386$ Undesignated:2,202,305$ Special Revenue Landscape and Lighting Districts 367,815$ CDBG Federal Grants -$ SHARP Program 117,587$ Capital Project Street Projects 2,194,460$ Park and Trail Projects 1,266,690$ Facility Improvement Projects 847,967$ Administrative Projects 192,847$ Tree Fund 85,348$ CIP Grant Fund (24,813)$ Gas Tax Fund 367,168$ Debt Service Library Bond 420,554$ Internal Service Equipment Replacement 97,413$ IT Replacement 352,546$ Facility Maintenance 327,783$ Equipment Maintenance 76,359$ Information Technology Services 211,678$ Office Stores Fund 49,540$ Liability/Risk Management 155,656$ Workers Compensation 102,647$ Trust/Agency Library Fund 699,316$ KSAR - Community Access TV 41,524$ Total City 16,071,991$ ATTACHMENT B CHANGES IN TOTAL FUND BALANCE The following table presents the ending Fund Balances for the City’s major fund types as at January 31, 2009. 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-Dec Current Revenue Current Expenditure Transfers Fund Balance 1/31/09 General Undesignated Unreserved Balance 2,216,238 (1,674,100) 2,423,063 1,980,784 984,417 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 Designated for Uncollected Deposits 289,454 - - - 289,454 Designated for Carryforward 58,386 - - - 58,386 Special Revenue Landscape/Lighting Districts 209,821 (6,675) 175,652 10,814 367,985 CDBG Federal Grants - - - - - SHARP Loan 93,877 1,488 - - 95,365 Capital Project Street Projects 2,432,995 (205,451) 58,930 7,897 - 2,278,577 Park and Trail Projects 1,497,834 (105,633) - 166,910 - 1,225,290 Facility Improvement Projects 994,315 (113,763) 4,770 68,741 - 816,582 Administrative Projects 219,841 (25,702) - 1,292 - 192,847 Tree Fund 129,566 (32,179) - 12,039 - 85,348 Grant Fund - 103,108 - 68,117 - 34,991 Gas Tax Fund - 173,264 35,092 30,000 - 178,355 Debt Service Library Bond 853,620 (643,400) 557,063 346,728 420,554 Internal Service Fund Equipment Replacement 98,109 (43,710) 59,025 16,012 97,412 Technology Replacement 316,310 23,550 12,826 139 352,546 Building Maintenance 101,361 73,723 201,771 54,073 322,783 Equipment Maintenance 13,412 29,388 62,500 16,468 88,832 Information Technology Services 122,541 19,080 100,987 30,930 211,678 Office Stores Fund 32,616 2,504 15,000 580 49,540 Liability/Risk Management 128,689 (30,591) 71,567 14,009 155,656 Workers Compensation 47,736 34,592 65,230 44,911 102,647 Total City 15,628,482 (2,620,509) 3,843,476 2,870,444 - 13,981,006 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 January 31, 2009 Street Projects Traffic Safety 11,757 Highway 9 Safety Project 82,460 Annual Street Resurfacing Project 423,025 Sidewalks Annual Project 120,075 Saratoga Sunnyvale 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 Design 9,730 Quito Road Bridge Construction 115,726 Village Newsrack Enclosure 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 540,665 Saratoga-Sunnyvale ADA Curb Ramps (2,525) Saratoga-Sunnyvale/Gateway Sidewalk 57,224 Pedestrian Refuge @ Quito/McCoy 150,000 Total Street Projects 2,194,460$ Parks & Trails Hakone Garden Koi Pond 50,000 EL Quito Park Improvements 118,209 Wildwood Park - Water Feature/Seating 7,199 Historical Park Landscape 37,200 Hakone Garden Retaining Wall & D/W 142,829 Hakone Garden Upper Moon House Foundation 125,000 Wildwood Park Improvement (4,543) DeAnza Trail (77,802) Kevin Moran Improvements 846,689 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 1,266,690$ 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 296,846 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 847,967$ Administrative Projects Financial System Upgrade 8,516 Document Imaging Project 65,331 CDD Document Imaging Project 60,000 Website Development Project 50,000 KSAR Equip Upgrades 9,000 Total Administrative Projects 192,847$ Tree Fund Tree Fund 85,348$ CIP Grant Fund CIP Grant Fund (24,813)$ Gas Tax Fund Gas Tax Fund 367,168$ Total CIP Funds 4,929,667$ 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-Dec Current Revenue Current Expenditure Transfers Fund Balance 1/31/09 Street Projects Traffic Safety 11,757 (6,998) - - 4,759 Highway 9 Safety Project 82,460 (12,331) - - 70,129 Annual Street Resurfacing Project 782,980 (166,792) 58,930 (49,933) 725,051 Sidewalks Annual Project 46,436 (2,709) - 33,186 10,542 Saratoga Sunnyvale 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 Design 9,730 - - - 9,730 Quito Road Bridge Construction 115,726 - - - 115,726 Village Newsrack Enclosure 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 - - 7,790 24,175 Village Pedestrian Enhancement 115,000 (9,341) - 12,355 93,304 Prospect Road Median 201,556 (7,204) - 4,500 189,853 City Entrance Sign/Monument 23,788 - - - 23,788 Village-Streetscape Impv 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 (205,451) 58,930 7,897 - 2,278,577 Parks & Trails Hakone Garden Koi Pond 50,000 - - 850 49,150 EL Quito Park Improvements 118,209 (13,787) - 24,943 79,479 Wildwood Park - Water Feature/Seating 7,199 - - - 7,199 Historical Park Landscape 37,200 - - - 37,200 Hakone Garden Retaining Wall & 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) (18,891) - 2,595 (99,289) Kevin Moran Improvements 982,259 (41,564) - 135,457 805,238 West Valley Soccer Field (58,507) (7,528) - - (66,035) Park/Trail Repairs 21,130 (10,317) - 3,065 7,748 Heritage Orchard Path 6,153 (6,153) - - - Trail Segment #3 Repair 7,912 - - - 7,912 Teerlink Ranch Trail 22,242 (7,392) - - 14,850 CIP Allocation Fund 118,552 - - - 118,552 Total Parks & Trails 1,497,834 (105,633) - 166,910 - 1,225,290 Facility Improvements Civic Center Landscape 13,384 (2,561) - 3,568 7,255 Warner Hutton House Improvements 5,868 - - - 5,868 Facility Projects 39,735 10,690 4,770 - 55,195 Fire Alarm at McWilliams & Museum 11,371 - - - 11,371 North Campus Improvements 443,195 (121,892) - 65,173 256,131 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 (113,763) 4,770 68,741 - 816,582 Administrative Projects Financial System Upgrade 8,516 (4,982) - - 3,534 Document Imaging Project 92,325 (9,343) - - 82,981 CDD Document Imaging Project 60,000 (8,378) - 1,292 50,330 Website Development Project 50,000 - - - 50,000 KSAR Equip Upgrades 9,000 (2,998) - - 6,002 Total Administrative Projects 219,841 (25,702) - 1,292 - 192,847 Tree Fund Tree Fine Fund 129,566 (32,179) - 12,039 85,348 CIP Fund CIP Grant Fund - 103,108 - 68,117 34,991 Gax Fund Gas Tax Fund - 173,264 35,092 30,000 178,355 Total CIP Funds 5,274,550 (206,356) 98,792 354,996 - 4,811,990 ATTACHMENT E