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HomeMy WebLinkAbout12/14/2005 - STAFF REPORTS (2) tvq 31 Unleaded Fuel Trends V, $3.00 $2.75 i $2.50 10/18/05 . $2.25 - � f $2.00 — $1.75 Y - 6105 1222F04. 1121/04 y`v,vvvvv $1.50 —==�-2 104 Price Per Gallon — —2005 Price Per Gallon a PPLM1I SP 4 >- �2 9<IFORN� FLEET OPERATIONS DIVISION UNLEADED FUEL USE FISCAL 2005-2006 PROJECTED Credit Card Use Gallons PPG Dollars Chevron Actual: 2004-2005 2504 $2.43 $6,089 Shell Actual: 2004-2005 2289 $2.34 $5,350 Total: 4793 $11,439 Projected: 5000 $2.76 $13,800 Average price per gallon for fiscal year 2005-2006 to date is $2.76. $2,76 X 5000 = $13,800 On-Site Fuel Usage Increase in usage from 2003-2004 to 2004-2005 was 12,009 gallons or 7.572%. Following the same trend would result in a 12,917 gallon increase for 2005-2006. Average price per gallon for fiscal year 2005-2006 to date is$2.53. $2.53 X 183,510 = $464,280 Gallons PPG Dollars On-Site Actual: 2003-2004 158,584 $1.50 $260,935 On-Site Actual : 2004-2005 170,593 $1.83 $327,076 Projected: 2005-2006 183,510 $2.53 $464,280 On-Site Projection: $464,280 Credit Card Projection: $13,800 Budget: $260,000 Projected Deficit: ($218,080) N CNG Fuel Trends $2.30 $2.20 $2.10 $2.00 — — — ' — $1.80 i $1.70 - $1.50 2004 Price Per Gallon 2005 Price Per Gallon -3- �pPLM sn _c m 4 FLEET OPERATIONS DIVISION CNG FUEL USE FISCAL 2005 - 2006 PROJECTED GGE PPG TOTAL Actual 2003-2004 16,105 $1.72 $27,677 Actual 2004-2005 16,226 $1.97 $31,940 Projected 2005-2006 16,700 $2.15 $35,905 Average price per gallon for fiscal year 2005-2006 to date is $2.15. $2.15 X 16,700 =$35,905 Budget 2005-2006 $28,000 Projected Deficit 2005-2006 ($7,905) i DIESEL FUEL TRENDS $2.80 $2.60 �- ' 10/18/05 r $2.40 — $2.20 $2.00 I _ $1.80 - Ilk i 2/7/04 $1.40 = — $1.20 —116/0s t �2004 Price Per Gallon --0--2005 Price Per Gallon -5- ePms U. h y_V 9<IFp0.N1 FLEET OPERATIONS DIVISION DIESEL FUEL USE FISCAL 2005-2006 PROJECTED The average price per gallon of diesel fuel in the 2004-2005 fiscal year was $1.73. The average price per gallon in the current fiscal year to date is $2.37. Gallons PPG Dollars Actual2004-2005 25531 $1.73 $44,272 Projected 2005-2006 26000 $2.37 $61,620 Budget 2005-2006 $38,000 Projected Deficit 2005-2006 ($23,620) 01 2005-06 Natural Gas Cost $157503000 —i $11650,000 $1,5505000 $19450,000 Oe $153509000 $1,2509000 $1,150,000 $150509000 U) 0 Q $950,000 7E $8509000 LL $7509000 $6509000 $550,000 $450yOOO $3503000 $250,000 $15%000 A $507000 0 10 06 'Li4,0, 0 L/4, 0- Budget --ka-Mo. Expense —*—Cum. Expense —0—FY Budget NATURAL GAS FY 2005-06 Month Monthly Gas Monthly Distribution Monthly MMBTU Total Expense Gum. Expense FY Budget Monthly Bud et Jul-05 103515.37 14,056.56 16795 $117,571.93 $117,571.93 $1,300,000 $127,010 Au -05 71521.88 9,690.79 11604 $81,212.67 $198,784.60 $1,300,000 $87,754 Se -05 93226.01 13,079.19 15126 $106,305.20 $305,089.80 $1,300,000 $114,388 Oct-05 144472.32 14,114.14 15806 $158,586.46 $463,676.26 $1,300,000 $119,531 Nov-05 182767.01 13,199.78 15373 $195,966.79 $659,643.05 $1,300,000 $116,258 Dec-05 138269.21 12,649.46 14733 $150,918.66 $810,561.71 $1,300,000 $111,416 Jan706 146615.00 12,020.12 14000 $158,635.12 $969,196.83 $1,300,000 $105,873 -$13.60 Feb-06 117711.98 9,673.62 11267 $127,385.60 $1,096,582.44 $1,300,000 $85,20,5 Mar-06 138662.14 11,533.31 13433 $150,195.45 $1,246,777.89 $1,300,000 $101,585 $13:00 . Apr-06 140542.05 11,905.93 13867 $152,447.97 $1,399,225.86 $1,300,000 $104,867 $12:25 May-06 145635.71 12,649.46 14733 $158,285.16 $1,557,511.02 $1,300,000 $111,416 $11,25 Jun-06 149925.80 13,022.08 15167 $162,947.88 $1,720,458.90 $1,300,000 $114,698 $11..25 1772;564.47 147;594.44'_ - 171904.2 , $1,120,458.90 SHORTFALL ($420,458.90) -8- Sunrise Plaza Cogen Plant Electricity Cost 2004 v 2005 $36,000 $31,000 , $26,000 - $21,000 $16,000 $11,000 - .. $6,000 -- L0 11<0pc P� o�`o O° boo Oe10 5 t2G04 -2005 -9- Municipal Cogen Plant Electricity Cost 2004 v 2005 $112,000 $102,000 -- =— — --- w. $92,000 $82,000 $72,000 . . — $62,000 $52,000 — — — — — $42,000 $32,000 �. , — $22,000 $12,000 $2,000 �o��t�` ��2004 '�1r-2005 -10- Municipal Cogen Plant Electrical Costs $255,000 ------- TM T $205,000 , .. �® $155,000 - u $105,000 $55,000 July 2005 October2005 $5,000 BUDGET - Monthly Expense s= Cumulative Expense -11- SUMMARY OF ALL ENERGY CATEGORIES Fiscal Year 2005-06 Compressed Natural Gas ALLOCATION Budget $28,000 General Fund (85%) ($61'7 19) Estimated Cost $35,905 All Other Funds (15%) ($1,186) Projected Deficit ($7,905) Diesel,Fuel 4 � •'ALLOCATION Budget $28,000 General Fund (85%) ($20,077) Estimated Cost $61,620 All Other Funds (15%) ($3,543) Projected Deficit ($23,620) Electricity ALL,OCAfiION;� ' " Sunrise Plant Budget $40,000 General Fund (20%) ($48,000) Projected Deficit ($80,000) All Other Funds (80%) ($192,000) Municipal Plant Budget $143,750 Projected Deficit ($160,000) TOTAL ($240,000) Natural-Gas ALLQCA`fION Budget $1,300,000 General Fund (20%) ($84,091) Estimated Cost $1,720,458 All Other Funds (80% ($336,367) Projected Deficit ($420,458) llnleaded 'Gasoline ALLOCATION , Budget $260,000 General Fund (85%) ($185,368) Estimated Cost $478,080 All Other Funds (15%) ($32,712) (Projected Deficit ($218,080) TOTAL ALLENERGY CATEGORIES ($910,063) ALLOCATION General Fund ($344,255) All Other Funds ($565,808) N BUDGET REVIEW r e U to a - y ;uF �'ORtli'cp r AL HL whows SOWRIm December 14, 2005 BUDGET REVIEW, FIRST QUARTER, FY 05-06 & FY 04-05 RECAP TABLE OF CONTENTS Page • FY 04-05 Operating Fund Comparison 1 Revenues-Operating Fund Graph 2 • Appropriations-Operating Fund Graph 3 • FY 05-06 Operating Fund Status thru Oct 05-06 4 • Comparative Summary of Major Revenue Sources 5 • FY 05-06 Operating Fund Expenditure Summary 6 • FY 02/03 thru FY 05/06 Summary of Operations 7 • Cash Reserve Estimates for FY 04-05 & FY 05-06 8 CITY OF PALM SPRINGS FY 2004-05 OPERATING FUND COMPARISON Adopted Revised Actual REVENUE Budged 04-05 04-05 04-05 Property Tax 13,176,000 '12,535,000 12,729,642 In Lieu Property Tax(MVIL) 1,422,000 2,365,193 2,365,193 TOT 13,360,000 '13,000,000 13,024,611 Sales Tax 6,001,000 6,251,000 6,370,513 In Lieu Sales Tax('Triple Flip") 1,900,000 2,005,919 2,005,919 UUT 5,900,000 5,900,000 5,708,025 New Development Tax 1,000,000 1,000,000 1,019,343 Franchises Fees 2,600,000 2,600,000 2,652,740 Motor Veh/GAP Loan 325,000 1,005,000 967,377 Admin Svc Charges 989,880 989,880 989,880 Business License 900,000 900,000 932,829 Building Fees 2,251,000 2,735,000 3,184,217 Planning Fees 1,268,000 2,000,000 2,271,743 All Other 6,294,617 5,495,809 6,727,161 Total Revenue 57,387,497 58,782,801 60,949,193 TRANSFERSIN Gas Tax 600,000 600,000 600,000 PERS 150,000 150,000 0 Facility Maintenance 0 0 0 All Other 10,233 10,233 10,233 Total Transfers In 760,233 760,233 610,233 APPROPRIATIONS Wages 22,807,204 22,427,821 22,140,619 PERS 7,445,381 7,445,381 6,920,592 Health Ins.&Other 4,654,330 4,654,330 4,093,071 Workers Compensation 1,598,324 1,598,324 1,580,571 Utilities 1,493,770 1,493,770 1,699,015 PSDRCVA 1,065,000 1,065,000 989,503 Tourism 1,331,516 1,331,516 1,331,512 Convention Center Ops 1,830,637 1,830,637 1,698,985 Insurance 1,540,640 1,540,640 1,531,764 Motor Veh Replace 1,994,502 1,994,502 1,994,502 Facility Maintenance 1,753,652 1,753,652 1,753,652 Parks Maint Contract 913,036 913,036 913,036 Leisure Programs 345,222 345,222 313,964 Contractual Legal Svc 455,000 800,000 808,121 Film Festival 350,000 350,000 350,000 All Other 4,299,180 4,299,755 6,112,758 Savings (1,300,000) (1,100,00()) 0 Total Appropriations 52,577,394 52,743,586 54,231,665 TRANSFERS OUT Convention Center Debt Svc 3,446,193 3,446,193 3,446,193 Conv.Ctr.Expansion Financing 2,215,000 2,215,000 2,215,000 Golf Course Debt 500,000 500,000 500,000 Police Bldg Debt Svc 178,319 178,319 178,319 Traffic Signal Lamp Loan 23,833 23,833 23,833 Capital Projects-Measure Y 300,000 300,000 300,000 Capital Projects-Tech Enhance 265,000 0 265,000 Capital Projects-Gen'l Plan Update 0 0 0 Capital Projects-All Other 0 0 0 A.D. 155 100,000 100,000 100,000 Parking Fund-Operations 200,000 200,000 200,000 Parking Structure Debt Svc 250,000 250,000 250,000 Master Lease Fund 200,000 200,000 200,000 Retiree Health Insurance 0 0 0 All Other 61,590 61,590 73,992 Total Transfers Out 7,739,935 7,474,935 7,752,337 SURPLUS or(DEFICIT) (2,169,599) (675,487) (424,576) 1 BUDGET OVERVIEW REVENUES—OPERATING FUNDS MAJOR OPERATING FUND REVENUES The following graph and schedule identify the major sources of revenue for the 2005-06 operating budget. Only the major revenue sources are shown. 2005-06 Revenue Comparison of Percent of Total Building Permits New Development Property Tax 2.5% 1.6% 22.3% 1 Business License 9 5% All Other Sources \ 155..2% Administrative Charges 1.7% -- "Sales&Use Taxes *Motor Vehicle In Lieu 14.2% Tax 4.7% j Franchise Fees./ �I 4.3% Transient Occupancy Tax(TOT) Utility Users Tax, 22.5% 9 5% includes Backtill Reim m burseent Includes Triple Flip ERAF Reimbursement Effective FY 04-05 MAJOR OPERATING FUND REVENUES ACTUAL ADOPTED ADOPTED % CATEGORY 2003-04 2004-05 2005-06 CHANGE Property Taxes $ 12,462,200 $ 13,176,000 $ 13,933,850 5.8% Sales&Use Taxes 7,472,553 7,901,000 8,844,844 11.9% Transient Occupancy Tax(TOT) 12,317,427 13,360,000 14,040,000 5.1% Utility Users Tax 5,731,152 5,900,000 5,959,000 1.0% Franchise Fees 2,572,297 2,600,000 2,704,000 4.0% Motor Vehicle to Lieu Tax 2,013,597 1,747,000 2,956,864 69.3% Administrative Charges 903,724 989,880 1,047,149 5.8% Business License 836,829 900,000 900,000 0.0% Building Permits 1,009,319 1,200,000 1,574,000 31.2% New Development 967,682 1,000,000 1,000,000 0.0% All Other Sources 8,730,715 8,613,617 9,497,514 10.3% TOTALS $ 55,017,495 $ 57,387,497 $ 62,457,221 8.8% 2 BUDGET OVERVIEW APPROPRIATIONS-OPERATING FUNDS OPERATING FUND APPROPRIATIONS The following graph and schedule identify the major appropriations or expenditures proposed for the 2005-06 operating budget. 2005-06 Appropriation Comparison Percent of Total Administration 14.7% _Growth Management 7.4% Public Safety 47.9% Quality of Life 13.2% Contractual Obligations ` 6.3% Public Works&� Engineering Marketing&Tourism 7.2% 3.3% OPERATING FUND APPROPRIATIONS ACTUAL ADOPTED ADOPTED % CATEGORY 2003-04 2004-05 2005-06 CHANGE Administration $ 6,805,693 $ 7,478,766 $ 8,380,133 12.1% Growth Management 3,257,975 3,880,198 4,243,046 9.4% Quality of Life 6,154,908 6,729,535 7,541,355 12.1% Public Safety 24,789,729 27,089,199 27,353,915 1.0% Public Works&Engineering 3,204,216 3,787,938 4,085,494 7.9% Marketing,&Tourism 2,554,224 1,666,121 1,871,621 12.3% Contractual Obligations 3,098,839 3,245,637 3,600,583 10.9% TOTALS $ 49,865,584 $ 53,877,394 $ 57,076,147 5.9% 3 CITY OF PALM SPRINGS FY 2005-06 OPERATING FUND STATUS THRU OCT. 05-06 Adopted Revised October %Oct. REVENUE Budget 05-06 *05-06 **05-06 to Revised Property Tax 13,933,850 14,889,547 1,740,279 11.69% In Lieu Property Tax(MVIL) 2,625,364 2,625,364 0 0.00% TOT 14,040,000 14,040,000 2,208,092 15.73% Sales Tar, 6,718,570 6,718,570 903,348 13.45% In Lieu Sales Tax("Triple Flip") 2,126,274 2,126,274 0 0 00% JUT 5,959,000 5,959,000 1,341,944 22.52°% New Development Tax 1,000,000 1,000,000 231,644 23.16°% Franchises Fees 2,704,000 2,704,000 224,067 8.29% Motor Vehicle License Fees 331,500 331,500 115,867 34.95% Admin Svc Charges 1,047,149 1,047,149 349,050 33,33% Business License 900,000 900,000 375,515 41,72% Building Fees 2,735,000 2,735,000 855,126 3127% Planning Fees 2,100,000 2,100,000 723,151 34A4% All Other 6,236,514 6,534,978 1,626,475 2489% Total Revenue 62,457,221 63,711,382 10,694,558 16.79% TRANSFERSIN Gas Tax 600,000 600,000 200,000 33 33% PERS 0 0 0 0.00% Facility Maintenance 0 0 0 0.00% All Other 148,103 148,103 49,368 33,33% Total Transfers In 748,103 748,103 249,368 33.33% APPROPRIATIONS Wages 22,899,524 24,070,383 7,768,991 32.28% PERS 8,183,378 8,183,378 2,693,483 32.91% Health Ins.&Other 4,543,114 4,543,114 1,232,999 27.14% Workers Compensation 1,894,077 1,894,077 631,359 33.33% Utilities 1,607,006 1,607,006 474,454 29.52% PSDRCVA 1,100,000 1,100,000 267,195 2429% Tourism 1,481,516 1,481,516 600,000 40 50°% Convention Center Ops 2,150,583 2,689,340 714,763 26.58°% Insurance 1,238,595 1,238,595 412,865 33.33% Motor Veh Replace 2,289,151 2,289,151 763,050 33.33% Facility Maintenance 1,773,277 1,773,277 591,092 33.33% Parks Maint Contract 1,004,340 1,004,340 205,292 20.44% Leisure Programs 355,222 356,610 73,336 20.56% Contractual Legal Svc 715,000 726,546 108,683 14.96% Film Festival 350,000 350,000 350,000 100.00% All Other 5,491,364 7,182,098 1,202,807 16.75% Savings (1,300,000) (1,300,000) 0 0.00% Total Appropriations 55,776,147 59,189,431 18,090,369 30.56% TRANSFERS OUT Convention Center Debt Svc 3,456,745 3,456,745 1,152,248 33.33% Conv.Ctr.Expansion Financing 2,000,000 2,000,000 666,667 33.33% Golf Course Debt 500,000 500,000 166,667 33.33% Police Bldg Debt Svc 178,319 178,319 59,440 33.33% Traffic Signal Lamp Loan 23,833 23,833 7,944 33.33% Capital Projects-Measure Y 300,000 300,000 100,000 33 33% Capital Projects-Tech Enhance 0 0 0 0.00% Capital Projects-Gen'I Plan Update 500,000 500,000 166,667 33.33% Capital Projects-AII Other 400,000 400,000 133,333 33.33% A.D.155 168,000 168,000 56,000 33.33% Parking Fund-Operations 200,000 200,000 66,667 33.33% Parking Structure Debt Svc 400,000 400,000 133,333 33.33% Master Lease Fund 200,000 200,000 66,667 33.33% Retiree Health Insurance 700,000 700,000 233,333 33.33% All Other 61,590 61,590 20,530 33.33% Total Transfers Out 9,088,487 9,088,487 3,029,496 33.33% *Includes continuing appropriations and outstanding encumbrances rolled from previous year+any new budget adjustments. '*Excludes outstanding encumbrances as of Oct.2005. 4 CITY OF PALM SPRINGS COMPARATIVE SUMMARY OF MAJOR REVENUE SOURCES OF THE OPERATING FUNDS FOR FY 2004105 AND FY 2005/06 THROUGH OCTOBER 31, 2005 Fiscal Year 2004/05 2005/06 Difference Budget 10/31/2004 Budget 10/31/2005 Operating Funds 57,387,497 9,224,386 62,457,221 10,444,473 1,220,087 Property Taxes' 13,176,000 571,276 13.933,850 1,740,279 1,169,003 Motor Vehicle In-Lieu/Property 1,422,000 0 2,625,364 0 0 Sales Tax 6,001,000 845,967 6,718,570 903,348 57,381 Sales Tax/Property 1,900,000 0 2,126,274 0 0 Franchises 2,600,000 200,662 2,704,000 224,067 23,405 TOT 13,360,000 1,996,437 14,040,000 2,208,091 211,654 Doc Transfer Tax 600,000 327,314 900,000 268,026 -59,288 New Deveopment Tax 1,000,000 285,304 1,000,000 231,644 -53,660 Utility Users tax 5,900,000 1,127,954 5,959,000 1,341,943 213,989 Business Licenses 900.000 346,352 900,000 375,515 29,163 Building Permits 1,200,000 569,612 1,574,000 429,758 -139,854 Construction Permits 400,000 127,043 500,000 125,968 -1,075 Zoning Fees 60,000 61,960 15Q000 119,391 57,431 Subdivsion Fees 80,000 90,914 200,000 78,749 -12,165 Motor Vehicle In-Lieu 325,000 122,099 331,500 115.867 -6,232 Building Plan Check Fees 350,000 217,904 600,000 216,944 -960 Engineering Plan Check Fees 345,000 201,585 600,000 235,900 34,315 Miscellaneous Filing Fees 380,000 197,956 563,000 190,247 -7,709 Percentage of Budget 16.05% 16.70% 0.66% Includes$955,697 in FY 2005/06 One Time Teeter Fund Payments; Other Property Taxes is $7488,582 which is still $213,306 over FY04-05 without onetime Teeter Fund Payments 15.17% 15-Nov-05 5 CITY OF PALM SPRINGS _ FY 05-06 OPERATING FUND EXPENDITURE SUMMARY 2005-06 2005-06 2005-06 %YTD ADOPTED REVISED YTD OCT.TO General Fund(001)Depts. BUDGET *BUDGET **OCT. REVISED City Council 265,617 297,303 116,452 39.17% City Manager 1,064,844 1,072,073 382,075 35.64% Public Affairs 123,734 141,230 43,727 30.96% Information Technology 1,318,182 1,336,450 537,590 40.23% City Clerk 469,667 469,667 127,731 27,20% Human Resources 454,523 489,416 132,944 27.16% Rent Control 49,106 49,106 8,537 17.38% City Attorney 696,000 700,800 108,546 15.49% Unallocated Comp 1,086,000 1,155,630 6,182 0.53% PSCTV Operations 155,774 205,299 57,665 28.09% Document Management 542,140 554,836 156,677 28.24% Finance 1,817,615 1,869,932 622,174 33.27% Procurement&Contracting 492,705 547,487 180,227 32 92% Community&Economic Develop. 367,083 685,867 141,781 20.67% Foreign Trade Zone 0 1,423 400 28.11% Planning Services 1,635,618 1,971,409 456,139 23.14% Strategic Planning 0 7,844 0 0.00% Building&Safety 2,240,345 2,315,901 667,577 28.83% _ Library 2,645,744 2,692,908 792,741 29 44% _ Subtotal-General Fund 15,424,697 16,564,581 4,539,165 27.40% Parks&Parkways Maintenance 2,404,240 2,419,919 648,831 26.81% Downtown Experience Mince. 485,682 490,371 152,890 31.18% Recreation Programs 1,750,589 1,761,511 590,772 33.54% Palm Springs Skate Park 147,826 149,121 36,561 24.52% _ James O.Jessie DIIUC 437,182 441,590 120,839 27.36% Subtotal-Recreation&Parks Mntnce 5,225,519 5,262,512 1,549,893 29.45% Police 15,278,094 15,352,412 5,114,969 33.32% Jail Operations 672,193 672,193 214,013 31.84% Family Intervention 93,091 93,091 31,574 33.92% Downtown Experience-Police 747,550 749,115 261,929 34.97% DUI Enforcement Cyan 0 133,132 29,342 22.04% Animal Control 532,942 538,518 183,098 34,00% _ Dispatch Center 1,401,681 1,408,218 465,560 33 06°/ _ Subtotal-Police 18,725,551 18,946,679 6,300,485 33.25% Fire 8,595,664 8,789,099 2,862,043 32.56% _ Disaster Preparedness 32,700 86,858 3,818 4 40°/ _ Subtotal-Fire 8,628,364 8,875,957 2,865,861 32.29% Engineering 1,603,846 1,614,306 506,259 31.36% Street Maintenance 838,433 874,697 280,077 32.02% Traffic Maintenance 338,938 342,162 73,240 21.41% Street Cleaning 26,251 35,252 4,375 12.41% PM10Removal 18,985 30,985 7,966 25.71% Street Lighting 728,359 758,277 143,209 18.89% _Railroad Station 45,000 45,000 6404 1423% _Subtotal-Engineering/Public Works 3599812 3700679 1021530 2760% Total General Fund(001)Budget 51,603,943 53,350,408 16,276,934 30.51% Transfers Out 8,588,487 8,588,487 2,862,829 33.33% Expected Savings (1,300 000) (1,300,000) (433,333) 33 33 GRAND TOTAL 001 w/TO&Savings 58,892,430 60,638,895 189706,430 30 85°/ Community Promotion Fund(112)Dept. PSDR Convention/Visitors Authority 1,100,000 1,100,000 267,195 24.29% Visitor Info Center 8,000 159,131 1,630 1.02% Tourism 1,481,516 1,481,516 600,000 40.50% Special Events 662,000 765,306 176,967 23.12% Special Contributions 70,105 70,105 52,880 75.43% _Convention Center 2,150,583 2,689,340 714,763 26 58% Total Community Promotion Fund 5,472,204 6,265,398 1,813,435 28.94% Transfer Out 500,000 500,000 166,667 33 33% Total Community Promotion Fund w/TO 5,972,204 6,765,398 1,980,102 29.27°% TOTAL OPERATING FUNDS(001+112) 64,864,634 67,404,293 20,686,531 30.69% *Revised Budget column includes continuing appropriations and encumbered funds rolled forward from FY 04-05 **Oct YTD funds excluded outstanding encumbrances. 6 ua oinvnc CITY OF PALM SPRINGS SUMMARY OF OPERATIONS Fiscal Year 02103 through Fiscal Year 05/06 FY 02103 FY 03104 Fiscal Year 04/05 Fiscal Year 05106 Actuals Actuals Adopted Actuals* Adopted Revised Revenue 50,216,395 55,051,465 57,387,497 60,949,193 62,457,221 63,711.382 Transfers In 2,048,000 852,000 760,233 610,233 748,103 748,103 Appropriations (46,528,015) (49,384,274) (52,577,394) (54,231,665) (55.776,147) (57,031,951) Transfers Out (6,065,674) (6,137,136) (7,739,935) (7,752,337 (9,088,487) (9,088,487) Surplus or(Deficit) (329,294) 382,055 (2,169,599 (424,576) (1,659310) (1660953) *Unaudited Actuals V CITY OF PALM SPRINGS CASH RESERVE ESTIMATES FOR FY 04-05 & FY 05-06 OPERATING FUNDS* REVISED ESTIMATES as of December 1, 2005 ADJUSTED CASH BALANCE, 6130/04 10,038,273 FISCAL YEAR 2004-05 (Unaudited Actuals) Revenue 60,949,193 Transfers In 610,233 Expenditures (54,231,665) Transfers Out (7,752,337) Surplus or (Deficit) (424,576) Loan Payments from CRA 15,040 Loan to CRA (370,000) ESTIMATED ADJUSTED CASH BALANCE, 6/30105 9,258,737 Continuing Appropriations/Encumbrances FY 04105 (2,157,480) FISCAL YEAR 2005-06 Revenue** 63,711,382 Transfers In 748,103 Appropriations*** (57,031,951) Transfers Out (9,088,487) Surplus or(Deficit) (1,660,963) Loan to Pavilion Theater (300,000) ESTIMATED ADJUSTED CASH BALANCE, 6130106 5,140,304 General Fund and Community Promotion Fund " Includes$955,697 one-time Teeter Fund Payment from County ***Includes Budget Adjustments and New Employee Contracts 8