Title
a. Approve the recommended list of capital projects for allocation of capital funds from Capital Projects, Fund 402;
b. Approve the FY 2012-13 Amended Adopted Capital Projects Budget, Fund 402, Appropriation RMA014 increasing appropriations by $9,090,409 and estimated revenue by $4,790,300 (4/5th vote required); and
c. Authorize the Auditor-Controller to reflect approved appropriations and estimated revenue changes in Capital Projects, Fund 402, Appropriation Code RMA014.
Report
RECOMMENDATIONS:
It is recommended that the Board of Supervisors:
a. Approve the recommended list of capital projects for allocation of capital funds from Capital Projects, Fund 402;
b. Approve the FY 2012-13 Amended Adopted Capital Projects Budget, Fund 402, Appropriation RMA014 increasing appropriations by $9,090,409 and estimated revenue by $4,790,300 (4/5th vote required); and
c. Authorize the Auditor Controller to reflect approved appropriations and estimated revenue changes in Capital Projects, Fund 402, Appropriation Code RMA014.
SUMMARY/DISCUSSION:
The Capital Projects, Fund 402, is the funding source used for priority capital projects excluding new or major renovation projects. The Fund 402, Fiscal Year (FY) 2012-13 estimated beginning fund balance is $9.4 million of which $1.4 million is non-discretionary funds restricted for use on specific projects. There remains funding needs of $2.5 million for projects that the Board previously committed funding towards that are currently underway and nearing completion, as well as $4.4 million that the Board previously designated to NGEN for the purchase of radios. In addition, Staff recommends $1.1 million be allocated towards new projects for FY 2012-13 (Refer to Attachment 1).
Over the past several years, there were loans made out of Fund 402 to the San Jerardo Water Project, Water Resources, and Parks Department totaling $4.2 million of which $1.6 million has been repaid. Currently, the County is awaiting reimbursement for its last three grant claims from the San Jerardo Water Project totaling $1.4 million. Staff has developed a priority listing of capital projects, which upon repayment of the loan from San Jerardo, are recommended for capital fund allocations. As a result of the shortfall in reimbursements there are projects that have been identified totaling $1.0 million that cannot begin until available funding is identified (Refer to Attachment 2).
OTHER AGENCY INVOLVEMENT:
The Resource Management Agency in collaboration with the County Administrative Office, and other County departments worked to identify capital needs, related costs, and funding sources. This item was supported by the Capital Improvement Committee on November 19, 2012 and the Budget Committee on November 30, 2012.
FINANCING:
There is no negative impact to the General Fund. The Capital Projects Fund, Fund 402, Appropriation Code RMA014 has and will have sufficient funds appropriated in the proposed amended budget in FY 2012-13 for those Capital Projects Listed in Attachment 3. Projects that are reliant on funding from the loan repayment from the San Jerardo Water Project will begin to be added to the Capital Budget only after sufficient funds are received in the Capital Projects Fund 402.
Prepared by: Shawne Ellerbee, Finance Manager III, (831) 755-4794
Approved by:
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Benny J. Young, RMA Director
Dated: November 30, 2012
Attachments: Attachment 1 - Capital Projects Fund 402 Estimated Fund Balance and Recommended Projects; Attachment 2 - Use of Fund 402 Funds as Funds Become Available; Attachment 3 - FY2012-13 Amended Budget Capital Project List - Fund 402