Title
a. Support request to approve an increase in appropriations in the amount of $18,476 in the Fiscal Year 2015-16 Adopted Budget for County Service Area 15 - Serra Village/Toro Park, Fund 056-3000-8198-RMA052, where the financing source is Unassigned Fund Balance, to fund increased operations and maintenance costs, administration and CSA shared costs; and
b. Support request to authorize the Auditor-Controller to amend the budget for County Service Area 15 - Serra Village/Toro Park, Fund 056-3000-8198-RMA052, for Fiscal Year 2015-16 by increasing appropriations in the amount of $18,476 where fund 056 Unassigned Fund Balance is the financing source to balance the appropriation increase.
Report
RECOMMENDATION:
It is recommended that the Budget Committee:
a. Support request to approve an increase in appropriations in the amount of $18,476 in the Fiscal Year 2015-16 Adopted Budget for County Service Area 15 - Serra Village/Toro Park, Fund 056-3000-8198-RMA052, where the financing source is Unassigned Fund Balance, to fund increased operations and maintenance costs, administration and CSA shared costs; and
b. Support request to authorize the Auditor-Controller to amend the budget for County Service Area 15 - Serra Village/Toro Park, Fund 056-3000-8198-RMA052, for Fiscal Year 2015-16 by increasing appropriations in the amount of $18,476 where fund 056 Unassigned Fund Balance is the financing source to balance the appropriation increase.
SUMMARY/DISCUSSION:
County Service Area 15 - Serra Village/Toro Park (CSA 15) was formed in 1962 to provide street lighting, stormwater, and parks and open space maintenance in Toro Park and Serra Village. This CSA is approximately 404 acres and is located on the western side of Highway 68 between River Road and San Benancio intersections.
Revenue is provided by annual assessments on 813 parcels and AB 8 funds from general property tax. The estimated annual revenue for Fiscal Year (FY) 2015-16 is projected to be $159,142. The projected FY 2015-16 expenditures of $172,132 are estimated to be in excess of the FY 2015-16 approved budget of $153,656. This is a result of several factors including increased maintenance costs related to wet weather preparedness, increased administrative costs and CSA shared administrative costs, and an additional need for spring-time fire fuel reduction in the open space areas adjacent to Toro Creek.
OTHER AGENCY INVOLVEMENT:
This matter will be presented to the Board of Supervisors in June 2016 requiring a 4/5th vote.
FINANCING:
There is no impact to the General Fund. The recommended action will increase appropriations in Fund 056, Unit 8198 (County Service Area 15 - Serra Village/Toro Park) from $153,656 to $172,132. The increase will fund ongoing operations and maintenance costs, administration and CSA shared costs and will be financed by appropriations in the CSA 15 - Serra Village/Toro Park (Fund 056, Unit 8198, Department 3000, Appropriation RMA052) for FY 2015-16. The current estimated unassigned fund balance for FY 2015-16 of $80,163 would be reduced to approximately $61,687, a 23% reduction as shown in Attachment 1.
Prepared by: Lynette Redman, Management Analyst III (831) 796-6038
Approved by: Benny J. Young, Interim Director of Public Works and Facilities
Approved by: Carl P. Holm, AICP, RMA Director
Date: May 13, 2016
Attachments: Attachment 1: FY 2015-16 Financial Summary; Attachment 2: CSA 15 Location Map