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Home My WebLink About101-Treasurer’s Report for the Month Ended April 30, 2009 .pdf SARATOGA CITY COUNCIL MEETING DATE: June 3, 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 April 30, 2009 RECOMMENDED ACTION The City Council review and accept the Treasurer’s Report for the month ended April 30, 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 April 30, 2009, the City had $189,271 in cash deposit at Comerica bank, and $15,926,173 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 April 30, 2009 is $16,115,444 and exceeds the minimum limit required. Cash Summary Unrestricted Cash Comerica Bank 189,271$ Deposit with LAIF 15,926,173$ Total 16,115,444$ 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 April 30, 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 663,182$ Designated for Uncollected Deposits 289,454$ Designated for Carryforward 58,386$ Undesignated:2,638,305$ Special Revenue Landscape and Lighting Districts 299,413$ CDBG Federal Grants 41,244$ SHARP Program 121,487$ Capital Project Street Projects 1,850,921$ Park and Trail Projects 931,443$ Facility Improvement Projects 940,777$ Administrative Projects 177,237$ Tree Fine Fund 84,200$ CIP Grant Fund 388,574$ Gas Tax Fund 271,816$ Debt Service Library Bond 430,104$ Internal Service Liability/Risk Management 238,555$ Workers Compensation 118,929$ Office Stores Fund 58,775$ Information Technology Services 235,132$ Equipment Maintenance 87,202$ Facility Maintenance 366,920$ Equipment Replacement 150,685$ IT Replacement 333,148$ Trust/Agency Library Fund 379,751$ KSAR - Community Access TV 67,962$ Total City 16,115,444$ ATTACHMENT B CHANGES IN TOTAL FUND BALANCE The following table presents the ending Fund Balances for the City’s major fund types as at April 30, 2009. Fund Description Fund Balance 07/01/08 Increase/ (Decrease) Jul-Mar Current Revenue Current Expenditure Transfers Fund Balance 4/30/09 General Undesignated Unreserved Balance 2,216,238 (1,541,962) 2,464,861 1,538,194 - 1,600,943 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 - - - (16,735) 663,182 Designated for Uncollected Deposits 289,454 - - - - 289,454 Designated for Carryforward 58,386 - - - - 58,386 Designated for Capital Improvements 1,200,000 - - - (1,200,000) - Special Revenue Landscape/Lighting Districts 209,821 59,499 52,260 21,998 - 299,583 CDBG Federal Grants - - 41,244 - - 41,244 SHARP Loan 93,877 2,055 - - - 95,932 Capital Project Street Projects 1,482,982 362,476 (58,930) 151,638 - 1,634,891 Park and Trail Projects 1,455,178 (368,414) - 239,758 - 847,006 Facility Improvement Projects 515,315 356,406 5,776 89,106 - 788,391 Administrative Projects 100,841 78,771 - 2,375 - 177,237 Tree Fine Fund 129,566 (45,365) - - - 84,200 Grant Fund 266,476 (30,570) 126,491 3,995 - 358,402 Gas Tax Fund 124,192 144,338 - - - 268,530 Debt Service Library Bond 853,620 (429,781) 6,265 - 430,104 Internal Service Fund Liability/Risk Management 128,689 38,299 71,567 - - 238,555 Workers Compensation 47,736 50,508 65,230 44,544 - 118,929 Office Stores Fund 32,616 13,371 15,000 2,212 - 58,775 Information Technology Services 122,541 44,619 100,987 33,016 - 235,132 Equipment Maintenance 13,412 52,344 62,500 41,054 - 87,202 Building Maintenance 101,361 129,062 201,771 70,274 - 361,920 Equipment Replacement 98,109 2,574 50,000 - - 150,684 Technology Replacement 316,310 4,602 14,805 2,569 - 333,148 Trust/Agency Library Fund 693,929 (314,174) (4) - - 379,751 KSAR - Community Access TV 38,661 4,705 24,596 - - 67,962 Total City 16,361,072 (1,386,637) 3,244,418 2,240,733 (1,416,735) 14,561,386 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 April 30, 2009 CIP Street Project Fund 1,850,921$ CIP Parks Project Fund 931,443$ CIP Facility Project Fund 940,777$ CIP Administrative Projects 177,237$ Tree Fine Fund 84,200$ CIP Grant Fund 388,574$ Gas Tax Fund 271,816$ Total CIP Funds 4,644,968$ 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-Mar Current Revenue Current Expenditure Transfers Fund Balance 4/30/09 Street Projects Traffic Safety 11,757 141,566 - 27,591 125,733 Highway 9 Safety Project 55,460 (10,331) - - 45,129 Annual Street Resurfacing Project 79,151 (136,242) (58,930) 87,967 (203,989) Sidewalks Annual Project (3,564) 36,902 - 2,765 30,574 Saratoga Sunnyvale Road Resurfacing - 64,972 - - 64,972 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 (615) - - 18,815 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 Annual Storm Drain Upgrade - 25,244 - - 25,244 Village Trees & Lights at Sidestreets 31,965 (4,020) - (3,770) 31,715 Village Pedestrian Enhancement 115,000 (67,761) - 366 46,873 Prospect Road Median 1,556 183,175 - 17,769 166,962 City Entrance Sign/Monument 23,788 - - - 23,788 Village-Streetscape Impv 540,665 (14,695) - 1,370 524,600 Saratoga-Sunnyvale ADA Curb Ramps - - - - - Saratoga-Sunnyvale/Gateway Sidewalk 57,224 (55,642) - - 1,582 Comer Drive Retaining Wall - 200,000 - 17,580 182,420 Total Street Projects 1,482,982 362,476 (58,930) 151,638 - 1,634,891 Parks & Trails Hakone Garden Koi Pond 50,000 (850) - - 49,150 EL Quito Park Improvements 118,209 (73,780) - 525 43,905 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 - - - - - DeAnza Trail - - - 1,645 (1,645) Kevin Moran Improvements 982,259 (382,973) - 236,880 362,406 West Valley Soccer Field (58,507) (8,609) - 708 (67,824) Park/Trail Repairs 21,130 (13,382) - - 7,748 Heritage Orchard Path 6,153 (6,153) - - - Trail Segment #3 Repair 7,912 (275) - - 7,637 Teerlink Ranch Trail 22,242 (7,392) - - 14,850 CIP Allocation Fund 118,552 - - - 118,552 Total Parks & Trails 1,455,178 (368,414) - 239,758 - 847,006 Facility Improvements Civic Center Landscape 13,384 - - - 13,384 Warner Hutton House Improvements 5,868 - - - 5,868 Facility Projects 39,735 (9,255) 5,776 1,857 34,399 Fire Alarm at McWilliams & Museum 11,371 - - - 11,371 North Campus Improvements 443,195 (302,589) - 63,591 77,016 North Campus - Bldg Removal - - - - - City Hall - Cool Roofs - - - - - Multi-Purpose Room Fund - 250,000 - - 250,000 Corp Yard Solar Project - 93,250 - - 93,250 Library HVAC Upgrade - 310,000 - 23,658 286,342 Library - EXT Improvement - 5,000 - - 5,000 McWilliams House Improvement - 10,000 - - 10,000 Historical Park Fire Alarm System 1,762 - - - 1,762 Total Facility Improvements 515,315 356,406 5,776 89,106 - 788,391 Administrative Projects Financial System Upgrade 8,516 (4,982) - - 3,534 Document Imaging Project 92,325 (6,972) - - 85,353 CDD Document Imaging Project - 44,407 - 2,375 42,032 Website Development Project - 40,317 - - 40,317 KSAR Equip Upgrades - 6,002 - - 6,002 Total Administrative Projects 100,841 78,771 - 2,375 - 177,237 Tree Fine Fund Tree Fine Fund 129,566 (45,365) - - 84,200 CIP Fund CIP Grant Fund 266,476 (30,570) 126,491 3,995 358,402 Gax Fund Gas Tax Fund 124,192 144,338 - - 268,530 Total CIP Funds 4,074,549 497,642 73,337 486,872 - 4,158,657 ATTACHMENT E