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RPVCCA_CC_SR_2014_03_04_F_FY13-14_Midyear_Financial_ReportCrrvoF RANCHO PALOS VERDES MEMORANDUM TO: HONORABLE MAYOR & CITY COUNCIL MEMBERS FROM: DENNIS McLEAN, DIRECTOR OF FINANCE & INFORMATION TECHNOLOGY ~t1'1 DfAC DATE: MARCH 4, 2014 SUBJECT: FY13-14 MIDYEAR FINANCIAL REPORT REVIEWED: CAROLYNN PETRU, ACTING CITY MANAGER@) Project Manager: Kathryn Downs, Deputy Director of Finance & Information Technology tCQ RECOMMENDATION 1) Receive and file the FY13-14 Midyear Financial Report; and 2) ADOPT RESOLUTION NO. 2014-, A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO PALOS VERDES, AMENDING RESOLUTION 2013-43, THE BUDGET APPROPRIATION FOR FY13-14, TO ADJUST THE BUDGET IN VARIOUS FUNDS OF THE CITY. EXECUTIVE SUMMARY The City of Rancho Palos Verdes continues to experience a stable financial condition. The City has established a prudent reserve level, while it continues to experience one of the lowest expenditure levels per capita in the South Bay. The City is receiving a significant amount of transient occupancy tax (TOT) from Terranea Resort, and property tax revenue remains stable. If City Council adopts the attached resolution, the revised estimate of excess General Fund Reserves would be $604,821 at June 30, 2014. A summary of the FY13-14 General Fund budget follows. F-1 FY13-14 Midyear Financial Report March 4, 2014 Page 2of10 Ori~inal Current . Proposed FY13-14 Budget Budget Revised ·~~atnotr:~r:§~n:~nt~1.~Qa~iM'1•!~1::~&;1~~1~~&~11:~.111.,g1~~~:1~~~1~t11:~aq~:§.1•~ti:%~·' Re>venues 24,734,690 24,734,690 · 25,572,690 rExpenditures · (19,694;419)t" (19,702:519). (19,678,519) :·NeTfrans.iers___ , (5;"694,814)1 · (5,694,81.4)! (5,963,814): rln'YJ'.iQs~~J:U,g~§J'.tli9.i~@1~%w&i~11i§§J~~;§~1;t~~r~1wi§:§12'.~9Iili~~r1;21~,~~~9~91'. ReseM Policy (50% of budgeted expenditures) 9,847,210 9,851,260 9,839,260 "@<J?~~-.R~l'i:Yij,,.';•··-···•:••·~,····••-••·:·~;;;·•t•w•-;:••,,;,:~1i~t,1;•;·;••·· •••••;•••·?1:J.i'•~1~9>1·•:• •••:.;'.~Q'~l§g.1::1 A summary of revised estimated fund balances as of June 30, 2014 has been prepared (see Attachment A-"FY13-14 Combined Summary of Funds -Midyear Financial Report"). During the 2014 budget process, Staff will analyze impacts discussed in this report, the accompanying proposed FY13-14 budget adjustments, and revenue trends and changes. BACKGROUND The Municipal Code of the City of Rancho Palos Verdes requires that a midyear review of the annual budget be presented to the City Council. Based upon Staff's analysis of the City's financial activities during the first half of FY13-14, there are a number of items for which the operating budget should be adjusted, as described in this report. Like previous years, midyear adjustments are a routine practice in conjunction with this report. If the activity of a particular fund, department or program is not discussed, there is nothing significant to report and revenues and expenditures are not expected to materially deviate from the amounts budgeted. The Summary Schedule of General Fund Revenue is presented below. It is important to understand that these revenue estimates are based upon Staff's analysis using trend comparisons with previous years, and reports provided by state, county and local agencies. It should be noted that future economic activity, legislation and policy decisions, as well as any other unforeseen circumstances could affect the City's revenue stream for the remainder of FY13-14. The midyear financial report also includes discussion and analysis of anticipated expenditure variances and other relevant developments related to the FY13- 14 budget. Staff has included the "FY13-14 Combined Summary of Funds -Midyear Financial Report" (Attachment A) to summarize the estimated FY13-14 activity and ending fund balances for all funds within the City. The schedule includes revised revenue and expenditure estimates based on the adjustments proposed in this report. DISCUSSION General Fund Revenue Some revenue sources are difficult to estimate such as utility users' taxes and permit fees. F-2 FY13-14 Midyear Financial Report March 4, 2014 Page 3of10 These types of revenues are predicated on conditions outside the City's control. As an example, planning and building permit revenues will fluctuate with the economy and housing activity, as well as other conditions such as the weather. Additionally, several significant franchise tax revenues are received annually after preparation of the midyear report. For these revenues, Staff has either reported FY13-14 estimated revenues as the budgeted amount or a conservative figure based on the amount of information currently available. Summa Schedule of General Fund Revenue: Property tax i $ 6,323,798 i $ 6,450,000 : $ 6,630,000 . $ 180,000 Property tai in lieu of\ehicle license fees 3,694,229 ; 3,830,000 · 3,890,000 60,000 Property tax in lieu of sales tax 453,907: 471,000 534,000 63,000 Property transfer tax 371,373 · 416,000 · 464,000 48,000 Sales tax 1,565,414 1,640,000 1,586,000 (54,000) Transient occupancy tax 3,790,359 3,679,700 3,949,000 269,300 Franchise taxes 1,906,615 1,779,000 1,800,000 21,000 Utility user taxes 2,480,967 2,420,000 2,610,000 190,000 Business license tax 737,481 715,000 732,000 17,000 Golf tax 383, 015 404, 000 408, 000 4,000 Planning, building & safety, and other permits 2, 026, 999 1, 786, 900 1, 799, 000 12, 100 Fines and forfeitures 116, 532 115, 500 106, 000 (9,500) Interest earnings 41, 945 53, 790 40, 000 (13, 790) Other use of money and property (rents & leases)' 472,504 . 438,000 · 549,000 111,000 Charges for services 358,966 . 356,700 1 353,400 · (3,300) lntergo..ernmental (grants & ..ehicle license fees) , 44,437 27,000 27,000 Other re..enue 763, 584 i 152, 100 152, 100 Overall, General Fund revenue is expected to exceed the current FY13-14 budget by about $0.9 million. Discussion and analysis regarding General Fund revenues is presented below. Staff does not recommend budget adjustments for immaterial anticipated variances. If a particular revenue source is not discussed, there is nothing significant to report and anticipated revenues are not expected to materially deviate from the FY13-14 budget. Property Tax Based on an analysis of property transfers for Jul-Dec 2012, Staff estimated that property assessments would increase by about 3.67% from FY12-13 to FY13-14. Each August, after the budget has been prepared and adopted, the County sends information about the property assessments for the new fiscal year. Based on information from the County provided in August 2013, assessed values increased by 5.25% for FY13-14. Therefore, Staff expects that actual FY13-14 property tax will exceed the budget by about $180,000, and recommends an adjustment accordingly. F-3 FY13-14 Midyear Financial Report March 4, 2014 Page 4of10 Property Tax in-lieu of Vehicle License Fees Property tax in-lieu of vehicle license fees increases at the same rate as regular property tax. With the December 2013 property tax remittance, the County provided information about the actual amount of this revenue for FY13-14. Staff recommends a $60,000 budget adjustment for the expected favorable variance. Property Tax in-lieu of Sales Tax This revenue source has a history of unpredictable adjustments from the state. For example, FY11-12 revenue was $541,717 due to a true-up adjustment, and FY12-13 revenue was $453,908; yet regular sales tax revenue increased by over 8% from FY11-12 to FY12-13. With the December 2013 property tax remittance, the County provided information about the actual amount of this revenue for FY13-14. Staff recommends a $63,000 budget adjustment for the expected favorable variance. Transient Occupancy Tax (TOT) Staff proposed a conservative FY13-14 budget for TOT revenue; which was based upon a projection from the Congressional Budget Office that the Consumer Price Index (CPI) would increase by 1.9%. The FY13-14 budget was calculated by applying the expected 1.9% CPI increase to expected FY12-13 actual revenue of$3.6 million. Afterthe FY13-14 budget was prepared, TOT revenue for May and June 2013 was received from Terranea; which proved to be 25% higher than the prior year. Actual FY12-13 TOT revenue from Terranea was $3.75 million. The first half of FY13-14 is tracking to be about 3.76% higherthan the first half of FY12-13; therefore, Staff expects that FY13-14 TOT revenue from Terranea will approximate $3.9 million. In addition, TOT revenue received from two other hotel businesses in the City is expected to be about $50,000. Staff recommends a budget increase of $269,000 for the expected favorable variances. Utility Users' Tax (U UT) Due to the dry weather, UUT received for water purchases is up 26% from the prior year. Staff recommends a $190,000 adjustment for the expected favorable variance. Use of Money & Property This revenue category includes facility rentals, City-owned property leases, the Pt. Vicente Interpretive Center (PVIC) gift shop, and the parking-lot fees for Abalone Cove Shoreline Park. Through January 2014, facility rentals and gift shop sales are trending about 22% or $37,000 more than the prior year; and parking fees are trending about 75% or $39,000 more than the prior year. When calculating the FY13-14 estimate for parking lot fees, Staff considered that the Abalone Cove parking lot may be closed for 3 weeks in June 2014 due F-4 FY13-14 Midyear Financial Report March 4, 2014 Page 5of10 to the improvement project. Staff recommends a budget increase of $76,000 for the expected favorable variances. Revenue Adjustment Summary Staff recommends revenue adjustments totaling $838,000, which would increase the General Fund revenue budget to $25.6 million (a 3.39% increase to the current budget, and a 0.15% increase from FY12-13). General Fund Expenditures & Transfers Per the City's Municipal Code (section 3.32.080), budgetary compliance is determined by program. There are 33 expenditure programs in the General Fund budget. As there are a number of programs with expenditures that fluctuate with unforeseen circumstances (e.g. weather, claims and litigation), there has been a long-standing practice to prepare conservative expenditure budgets, which generally results in overall favorable budget variances each year. On April 30, 2013, the City Council amended its Reserve Policy to utilize favorable General Fund expenditure variances for capital improvement projects, by transferring these savings to the Capital Improvement Projects (GIP) Fund Reserve. Staff has analyzed FY13-14 General Fund expenditures to date, and has determined that a number expenditure budgets warrant adjustment. A discussion of proposed adjustments follows. Salaries and Personnel Several full-time positions are currently vacant. Staff expects the following vacancies will contribute to a favorable budget variance: • The Senior Administrative Analyst position serving the Finance function is expected to be vacant for 25% of the fiscal year; • The Information Technology Manager position may be filled in March, which would result in a 70% vacancy rate for the fiscal year; • The Lead Worker position in Public Works is expected to be vacant for about one- third of the fiscal year; and • The Recreation Manager position was budgeted to be filled on October 1, 2013, and Staff expects that the position may be filled in March. Staff expects an overall $219,000 favorable variance for salaries, primarily driven by vacancies; and recommends a decrease to the General Fund budget. Professional services for negotiations with the employee association and the City Manager recruitment are expected to result in additional costs of $60,000 in the Personnel budget program. Staff recommends an increase of $60,000 to this expenditure budget. F-5 FY13-14 Midyear Financial Report March 4, 2014 Page 6of10 The net effect of these two recommendations is a favorable adjustment of $159,000. Administration City Clerk Program During the 2013 budget process, the County provided an estimate of the November 2013 election cost at $150,000. After the November 2013 election, the County revised its estimate to $250,000. Staff recommends a $100,000 budget increase accordingly. RPVTV The cost of the RPVTV station manager and other professional services to deliver programming are expected to exceed the budgeted allocation by about $35,000. Staff recommends a budget increase to provide for the current level of service that was not contemplated during the 2013 budget process. General Fund Transfers to Other Funds Per the City Council's Reserve Policy, Staff recommends an adjustment to increase the transfer amount from the General Fund to the Capital Improvement Projects (GIP) Reserve by $269,000, to coincide with the additional expected Transient Occupancy Tax noted above. Summary of Proposed General Fund Adjustments : ~~~~LIE:) adj~stments__ .. . . $ 838,000 Salary & personnel expenditure adjustments 159,000 · other expendTture adjus.foients .... .. . . (135,ooo) Increase ·of transfer to GIP Reserve (269,000)i t&ij~111~tl!!l'*12[1'.4n:!:r!Ji~i!ag111«1t1'1~@]filffi&J*:11(l11~lilfi~f1ii)11it11r11~~~§aJi9.ttQi{l OTHER FUNDS OF THE CITY This section discusses other revenues and expenditures of the City. Each of the following recommended adjustments has been incorporated in the FY13-14 Combined Summary of Funds -Midyear Financial Report (see Attachment A), which includes the revised fund balance estimates for June 30, 2014. Again, if the activity of a particular fund is not discussed, there is nothing significant to report and actual activity is expected to approximate the FY13-14 budget. Street Maintenance Fund As part of roadway maintenance in the landslide area, an additional high-density polyethylene dewatering pipeline has been installed in the Portuguese Bend area of the landslide to minimize water line breakage that has been occurring on a regular basis. Staff recommends an expenditure budget increase of $15,000 to provide for the new pipeline. F-6 FY13-14 Midyear Financial Report March 4, 2014 Page 7of10 Air Quality Management District (AQMD) Fund & Equipment Replacement Fund On March 19, 2013, the City Council approved the purchase of two Chevrolet Equinox vehicles to replace two Toyota Prius vehicles in the City's fleet. The purchase was not completed until July 2013 (the new fiscal year). The purchase was funded with AQMD revenue. Staff recommends adjustments to provide for the funding transfer from the AQMD Fund, and the expenditure within the Equipment Replacement Fund in the amount of $54,910. Ginsburg Cultural Arts Building Fund The Ginsburgs authorized an additional transfer of $20,000 from this fund to the Palos Verdes Peninsula Land Conservancy. Staff recommends an appropriation to provide for the transfer, which will reduce the estimated fund balance to $139,752. Environmental Excise Tax (EET) Fund & Quimby Fund The City Council had previously authorized and budgeted for an $80,000 contribution to the Palos Verdes High School pool project to be funded with $51,000 of EET and $29,000 of Quimby money. The City's contribution was made in December 2013, but the appropriations had not been carried forward from FY12-13. Staff recommends adjustments to re-budget these contributions. The adjustments will not impact estimated ending fund balance, as the amounts were previously appropriated and included in the calculation of estimated fund balance at June 30, 2013. The FY13-14 budget for both EET and Quimby Funds includes large fee receipts totaling about $1.6 million that are expected from the Crestridge condominium project. The Quimby fees were budgeted to fund a number of park improvement projects totaling about $1 million, most of which are currently scheduled to begin construction in June 2014. The projects include the Ryan Park. and Abalone Cove Shoreline Park parking lot improvements, and the Salvation Army Trail improvement. Community Development Staff does not expect these fees will be received by June 30, 2014. Staff recommends that the CIP Reserve be used to cash-flow these projects until the Quimby fees are received and used to reimburse the CIP Reserve. Staff will provide an updated status of the fees prior to June 2014. Bikeways Fund & Capital Improvement Projects (CIP) Fund The Bikeways Fund receives Transportation Development Act revenue that provides for the construction of pedestrian access ramps as part of the annual residential street rehabilitation program. An additional $68,671 is available for this purpose in the Bikeways Fund. Staff recommends adjustments to provide for the funding transfer from the Bikeways Fund, and the additional expenditure within the CIP Fund. In addition, Staff recommends four other adjustments in the CIP Fund discussed below. F-7 FY13-14 Midyear Financial Report March 4, 2014 Page 8of10 On May 7, 2013, the City Council authorized Staff to move forward with development of a Wall of Honor. A City Council subcommittee has been appointed to develop ideas for the wall. As a budgetary placeholder, Staff estimates that installation of the wall may cost about $40,000. During development of the City's Infrastructure Report Card, the consultant participated in several meetings beyond the scope of the engagement at a cost of about $5,000. The design development of the Ryan Park parking lot improvement project has identified conditions that necessitate modification to the conceptual design to increase the factor of safety. Construction of a shocrete soil nail wall to eliminate any potential jeopardy to the stability of Hawthorne Blvd during project construction is expected to add $30,000 to the cost of the improvement project. To comply with requirements of the Americans with Disabilities Act, the Salvation Army Trail project has been modified to include a 400-foot stretch of decomposed granite sidewalk and an access ramp trail adjacent to the roadway. These modifications are expected to add $40,000 to the cost of the project. Staff recommends that the adjustments described previously, totaling $115,000, be funded with the GIP Reserve. Water Quality Flood Protection Fund As part of the San Ramon Canyon Stabilization project, on July 16, 2013 the City Council authorized the acquisition of open space property from the Richards family. The final acquisition cost including fees was $19,750. Staff recommends an expenditure budget adjustment to provide for the acquisition. Status of Major Capital Improvement Projects Staff planned to provide a midyear update of the 2013 Five-Year Capital Improvement Plan. Updates to projects within the 2013 document were minor due to focus on the San Ramon Canyon Stabilization project and the Infrastructure Report Card. Therefore, a summary of the current status of all major capital improvement projects has been prepared and attached to this report (see Attachment B). Funding .Transfers for Projects Continued From FY12-13 With City Council approval on September 17, 2013, a number of FY12-13 projects were carried forward to FY13-14 as a matter of routine. Some of these projects are to be funded with restricted monies transferred from other funds. Staff recommends the following housekeeping adjustments to the FY13-14 transfer budget to reflect the sources associated with each project. F-8 FY13-14 Midyear Financial Report March 4, 2014 Page 9of10 ~ Transfer $473,690 from the Beautification Fund to the CIP Fund for Arterial Median Improvements. ~ Transfer $1,228,719 from the Proposition C Fund to the CIP Fund for the Arterial Street Rehabilitation project. ~ Transfer $564,000 from the Measure R Fund to the CIP Fund for the Arterial Street Rehabilitation project. ~ Transfer $50,000 from the Proposition A Fund to the CIP Fund for the Arterial Street Rehabilitation project. ~ Transfer $50,000 from the Environmental Excise Tax Fund to the CIP Fund for the Americans with Disabilities Act Transition Plan -Blackhorse project. Budget adjustments for these funding transfers will not impact estimated fund balances, and have not been included on the attached Combined Summary of Funds. Grant Revenue for Projects Continued from FY12-13 Staff recommends the following housekeeping adjustments to the FY13-14 revenue budget to reflect the grant revenue associated with the following projects carried forward from FY12-13: ~ Federal HSIP grants of $702,479 for the Hawthorne Blvd Traffic Signal Synchronization project and $252,000 for the PVDE Early Action Safety Improvements project; ~ Metro TIP grants of $1,008,424 for the Hawthorne Blvd Pedestrian Improvements project and $630,000 for the PVDS Bikeway Safety project; ~ Land and Water Conservation Fund grant of $332,588 for Abalone Cove Shoreline Park improvements; and ~ California Coastal Conservancy grant of $461,636 for the California Coastal Trail project. Budget adjustments for these revenues will not impact estimated fund balances, and have not been included on the attached Combined Summary of Funds. RESERVE POLICIES The following chart summarizes the status of the City's reserves. Reserve deficiencies will be addressed during the 2014 budget process. F-9 FY13-14 Midyear Financial Report March 4, 2014 Page 10of10 /;,-;·,,;<jJJ1t· ·.·.·· · ,:1r1.: ... ::,,~•111{ :tir11111111f:!,:, .. «::::''''~*~t~;:~:-~:::;:··:·:::::~~11f11111•11~ i 50% of budgeted annual •General Fund expenditures 9,839,260 10,444,080 604,821 . One year of Portuguese Bend road Street Maintenance Habitat Restoration Subregion 1 CIP ; maintenance 522,000 Emergency projects. of$50, 000 and. , future maintenance endowment of $95,206 De\eloper endowment Emer~enct or future proj13cts Estimated replacement cost of 145,206 750,000 i ' 3,000,000 1 ~g-~p~E;l~~-'3«=:!?1~-~.e:r:i:iElnt . : a5-~_e,!~. ~~eJ~ . 1,979,613 ! FISCAL IMPACT 978,299 173,092 764,659 6,840,394 1,812,990 456,299 27,886 14,659 3,840,394 (166,623) Except as discussed above, all other estimated revenues and expenditures are expected to approximate the budget in all funds of the City for FY13-14. The estimated fund balances presented in the FY13-14 Combined Summary of Funds -Midyear Financial Report (Attachment A) includes the effects of the budget adjustments recommended within this report. Attachments: Resolution No. 2014- A-FY13-14 Combined Summary of Funds -Midyear Financial Report B -Capital Improvement Plan FY13-14 Appropriations Project Status F-10 RESOLUTION NO. 2014- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO PALOS VERDES, AMENDING RESOLUTION 2013-43, THE BUDGET APPROPRIATION FOR FY13-14, TO ADJUST THE BUDGET IN VARIOUS FUNDS OF THE CITY WHEREAS, on June 18, 2013, the City Council of the City of Rancho Palos Verdes adopted Resolution 2013-43, approving a spending plan and authorizing a budget appropriation for FY13-14: and WHEREAS, certain FY13-14 revenues, expenditures and operating transfers, as described in the Midyear Financial Analysis and identified below, are expected to deviate from the amount budgeted; and WHEREAS, the City Council desires that the FY13-14 budget be adjusted. BE IT, THEREFORE, RESOLVED BY THE CITY COUNCIL OF THE CITY OF RANCHO PALOS VERDES: The following adjustments are made to the FY13-14 budget: ~~,,,~t,J:t~9ns~;g~;x~n!ii\il~1!timt::n1w~;:1:~i:\;i:\ffr~1~f:::¥11i:w0#&~)1@·1f6l~~~~f0~i1f~M&!'Jftt~t~.t:~1~::;;:;~~:;;::g;~~:;w, Property tax 101-6000-311-10-00 180,000 Prop~rtx tc;:ix i~_lieu ()fve_~icle license fees 101-6000-312-30-00 60,000 , Property tax in lieu of sales tax 101-6000-312-20-00 1 63, 000 · '.Transie.rioccupancitax · · · 101-sooo-314-10-00 269,ooo ruurca1if'orrlia-Water··--·······-·······--··········· ................ ···· ·····-f1"of.sooo~31·s~fo:30··i 1so:ooa·: .!F>V1c F'ad1ity.Rentais ····· · .... · -................ -·• __ ;j§1::soso:364~10~:fo 1 23:000 · PVl~GitCsh'op . .. .. .... . i 101~5666~369~20-10 14,ooo Abalone Cove Parking Lot 101-5030-347-70-00 39,000 ~~Xt'.~t~t~~11,~1u1v!'.6JJ;,~;i:191~1!1i'litf::fil~'i~i:i~~!©$1~::~'ifi:ttim;;;~lt~~:r1~£;;:;;~~:1w~~:;]:1::w@:::mm~~·i@,:1_·,;,~-~§U1.q~:-: -~~n~r,Hm9n:~i1§'.~J@~r~;11~~,rj"1~J[i,~#in~!(9r~ ~~l~httmi9~ w,,:.J:iil:· /:t · ; ·T;~ :f:,;.,,01i· City Manager Salaries 101-1002-411-11-00 7,000 City Clerk Salaries 101-1004-411-11-00 6,000 RPVTV Salaries 101-1006-411-12-00 5,000 Finaf'.ce Sal~ries 101-202.9--4-~.1-1_1~00 . (23,000) : Information Technology Salaries 101-2030-411-11-00 (70, 000) Public Works Salaries 101-3001-431-11-00 (85,000) PVIC Salaries 101-5060-451-11-00 (59,000) Personnel Professional Services 101-1011-411-32-00 60,000 1§~;§19~1r%t!i!,tf§lfi:~g11:q:r:~11i;«s~,t~H~im~11:~Ji~:!~il1@r1~1i1~~~::1:w1l';m~:1M:11t;;;~rfiJ~@~[f:~:~~~hl1:1i.tt1i~~1:9:ij!fi ;gj,:fi~t~li&9:ri~1st~;ir~;11;e:!n~.11;g;~~;:~~ijJ,Y:1m1~~n1it41t;1f~~]wNt~1~1~~1~1m1~jii~i@~;~~11~l!irrt.1mfi~:r~lwi~~l~tt£@~t&11:; City Clerk Professional Ser.lices 101-1094-411-32-00 100,000 RPVTV Professional Services 101-1006-411-32-00. 35,000 i§Ii§~ewJ1N~~~~9.inijJtij_i~:~:g~~~9lfgV:ii:i1:;,m:lMt~'lJw:1lfil~:i11;;;1~;@:1t11;*i~,i&iJ::~~m~0t~iif,~ii~110~iE~m11@~&:~;i§j9,9.2J F-11 ~tb!~.§4,9,~f:llj;lly.lt.ffl!n§:~:;: :::1;~;m tlM1il~1iwi:@,~1i1·i}f.i,.::i.::,:M~ti;tWM·:,;f~I:=f::fi::~~w&:~rn:irn::§'.~;1t;iff m: ; :'}!~et,'_; Street Maintenance -Landslide 202-3005-431-43-00 15,000 ii~:aMo Transfer toEquipm.enfRepia.cement · !2'14-3014-491-91-00 54,910 f"Eq.uf i>m.enf-¥feplac·0·n;0r;t'Trans10r:·troni-·.A.a·rv;o ··· ···1·sa·1 :3081~391 ~fo~ao·, 54, 91 o . iECiuii:>ment.Repiacemen(veiiicie .. F>t:ircilasa··· ····· ··· · · 16a1:3o8149\:j:.7s:.00··: ······· 54, 91 o . !<3iilsblir9. clilfi:i.raTAits-·s-ur1ar119-i=ransfer-to.F>Vric·····1221:3021::~fa-:r::ae~oo···-····· ··· :20·.0-00 ·: rauimbY-F'Liri<fcorifrihutfon to-F>VH"s f5601 ··· --!334=3034461:.73:.00 29,ooo · · EET Fund Contribution to PVHs··rod '338-3038-46f:.73:.oo 51,000 Bikeways Transfer to CIP Fund 340-3040-491-91-00 68,671 CIP Fund Transfer from Bikeways Fund 330-3031-391-10-00 68,671 Street Improvements 330-3031-461-73-00 68,671 Building Improvements -Wall of Honor 330-3036-461-73-00 40,000 Infrastructure Professional Services 330-3030-461-32-00 5,000 RyanPark lrnPrC?vemen.ts 330-3033-461-73-00 30,000 ~alvati()nA_rmt :J"r~il lf!lpr~vements .. .... . . . 330-3033-461-73-00 40,000 ~.w.ci~er .. ?.~a~lty fl_()Od Protection LandAc;quisiti()n .. 501-3052-431-71-00 19, 750 t1~~i~mn~Jtlf.tittCflrt:911:st!t~2n!ln~1~r1:mw1*~i~1#1~~t':lm~\l~11@ii;;0~1~im~i~~;~\~i111:~it~:*1m~w::1~ !Beautification Transfers Out ]212-3012-491-91-00 · 473,690 Proposition C Transfers Out .215-3015-491-91-00 1,228,719 Measure R Transfers Out 220-3020-491-91-00 564,000 Proposition A Transfers Out 216-3016-491-91-00 50,000 CIP Fund -Street Improvements Transfers In 330-3031-391-10-00 2,316,409 EET Fund Transfers Out 338-3038-491-91-00 50,000 CIP Fund -Facility Improvements Transfers In 330-3036-391-10-00 50,000 . . ltl~D!fB~i!!P!t!PJBiR1f§Ji~Rifffi1'lliimiY.f~~~l~l~Jii4~!ti1l~l~~j1fii~~m11:¥nkiim}~r~~~~~i :street Improvements Federal Grant Revenue 1330-3031-331-10-00 702,479 · !--·-········-·---··---·-······-.. -· ........ ~-~-~ ---------···--·-···· --···--··-···r·-·---· .. ··-·· .. ·---·~---·---···--1---·-······· .......... ··· • 1~~~~~:~~-~~~~~;;--~r:1;~~~~r~~;~;~-~---~·-:·_··:··:l:~~~~~~~¥~:~J~{~~6~ --1 .• ··1:~g6~:-~~~ : : Street lmp~o-.emEmts. State G,~a~t .. ~e~!1u.E'! . . j 33.0:3.031_:3.3.4-1p-oo . 630, 000 Park Improvements Federal Grant Revenue 330-3033-331-10-00 332,588 Park Improvements State Grant Revenue 330-3033-334-10-00 461,636 PASSED, APPROVED, AND ADOPTED THE 4th DAY OF MARCH 2014. ATTEST: CITY CLERK State of California ) County of Los Angeles )ss City of Rancho Palos Verdes ) MAYOR F-12 I, CARLA MORREALE, City Clerk of The City of Rancho Palos Verdes, hereby certify that the above Resolution No. 2014-was duly and regularly passed and adopted by the said City Council at regular meeting thereof held on March 4, 2014. CITY CLERK CITY OF RANCHO PALOS VERDES F-13 Attachment A FY13-14 COMBINED SUMMARY OF FUNDS -MIDYEAR FINANCIAL REPORT Unrestricted '~ewli~tff@fif!Hfa@1Mi'Ml@M@rnff=::~@ :Wf@t.'d'J5!tii1~il Restricted by Council Action BEAUTIFICATION FUND 512,751 GIP EQUIPMENT REPLACEMENT BUILDING REPLACEMENT Restricted by Law or External Agencies STREET MAINTENANCE 1972ACT EL PRADO LIGHTING CDBG 1911 ACT WASTE REDUCTION AIR QUALITY MANAGEMENT PROPOSITION C PROPOSITION A PUBLIC SAFETY GRANTS MEASURER HABITAT RESTORATION SUBREGION 1 MAINTENANCE MEASURE A ABALONE COVE SEWER DISTRICT GINSBURG CULTURAL ARTS BUILDING DONOR RESTRICTED CONTRIBUTIONS QUIMBY AFFORDABLE HOUSING IN LIEU ENVIRONMENTAL EXCISE TAX BIKEWAYS WATER QUALITY/FLOOD PROTECTION IMPROV AUTH -PORTUGUESE BEND IMPROV AUTH -ABALONE COVE :~'ttlt&fa1::rn:n·~tw&ml '.aR:l~~i~o· 6,822,269 1,770,290 941,627 913,553 63,467 17,755 (42,446) 1,468,784 241,652 91,674 33,893 197,112 586 192,536 181,172 772,359 (65,516) 26,772 159,272 408,849 29,420 505,350 355,493 68,671 493,788 273,422 1,530 1,220,400 736,600 2,800 1,294,425 258,190 1,950 189,364 529,400 191,125 50,270 591,617 713,713 100,000 444,217 540 2,300 170,516 54,080 480 1,220 1,400,000 1,510 241,670 26,586 1,330,500 820 7,011,371 54,910 1,082,000 150,000 61,000 50,700 70,000 (8,213,646) (748,810) (214,000) 300,281 6,840,394 1,812,990 944,427 (1,993,425 30,172 1filWt1'~@~&;~$t •::'.:s.fJl 2~'Jiao~' (2,311,679) (72,800) (1,000) (146,918) (532,500) (169,100) (50,000) (578,340) (158,620) (71,000) (105,600) (20,000) (29,000) (3,800) (51,000) (1,616,658) (119,100) (190,000) (99,000) (62,000) (54,910) (592,000) (100,000) (105,000) (993,000) (300,000) (95,257) 978,299 58,857 18,705 0 1,366,684 201,677 37,034 33,510 332,485 586 636,753 173,092 764,659 0 25,952 139,752 410,069 407,420 503,060 246,163 0 207,630 225,142 F-14 CAPITAL IMPROVEMENT PLAN FY13-14 APPROPRIATIONS PROJECT STATUS !tt9Jg~::s·•·· Attachment B Page 1of3 Crenshaw Utility Undergrounding 330-3030 1,200,000 1The project has been delayed due to other staff demands. I One well is currently being constructed. Site analysis for the 'second well is in process, with construction anticipated by the New Landslide Dewatering Wells (2} 330-3030 170,000 end of Jun 2014. FY10-11 Residential Street Project (Zones 3 & SA} 330-3031 1,600,683 Completed. FY12-13 Residential Street Project (Zones 1 & SB} 330-3031 1,611,0lS : Expect to award design contract by Apr 2014. FY13-14 Residential Street Rehab (Zone 9, Eastview/Peninsula Verde Area} Arterial Street Rehab (PVDE} PVDE Traffic Safety Improvements {Guardrails) PVDE Headland Safety Improvements Arterial Street Rehab (Miraleste} Hawthorne Traffic Signal Synchronization Hawthorne Pedestrian Access Improvements PVDS Bikeway Safety Improvements PVDS -Landslide Roadway Realignment and Drainage 330-3031 330-3031 330-3031 330-3031 330-3031 330-3031 330-3031 330-3031 330-3031 1,900,000 I Expect to award design contract by Apr 2014. 2,23S,667 I Construction contract awarded on Feb 18, 2014. 273,114 I Project is ready to advertise for bids. 41,700 I Have federal authorization to proceed with design. 70,000 I Expect to award design contract by Apr 2014. 774,S2S I Project design is nearly complete. i Design is complete. Construction is waiting to proceed with 1,246,190 I Traffic Signal Synchronization project. Waiting on project amendment from the Los Angeles Metropolitan Transit Authority. Once amendment is received, 788,90S I design can begin. RFQ for project design is complete. Expect design to be 24S,OOO I complete May 2014. Public meetings in October and March. Design is 6S% PVDS -Realign East End of Landslide (Interim Project) 330-3031 S27,48S complete. Construction anticipated to begin in Jun 2014. PVDW Median Improvements 330-3031 473,690 Design is complete, and pending City Attorney review. Pavement Management Plan Update 330-3031 81,137 Update is nearly complete. Abalone Cove Shoreline Park -Parking Lot Abalone Cove Shoreline Park -Staff Building, Restrooms & Driveway ! 330-3033 i ' 330-3033 I I Design is in process. Expect to advertise for bids in Apr 2014, 332,000 1 with construction to begin in Jun 2014. Design is in process. Expect to advertise for bids in Apr 2014, 108,000 I with construction to begin in Jun 2014. F - 1 5 CAPITAL IMPROVEMENT PLAN FY13-14 APPROPRIATIONS PROJECT STATUS Attachment B Page 2 of 3 Bids were opened in Jan 2014. Waiting for the state to approve the City's request to extend grant timeline. Tentatively scheduled to award contract in Apr 2014 and begin Abalone Cove Shoreline Park Improvements 1330-3033 648,793 construction in May 2014. Ladera Linda Site Master Plan Ryan Park Parking Lot Expansion Ryan Park Southern Entrance Improvements Bronco, Martingale & Grayslake Trails -Design California Coastal Trail 330-3033 i 330-3033 I 330-3033 i i 330-3033 I 330-3033 l Due to preparation of the City's Report Card and IMP, 100,000 I preparation of Ladera Linda Master Plan is currently on hold. Design is near complete. Expect to advertise for bids in Mar 2014, with construction beginning in Jun 2014. Additional funding is needed, and Staff expects to report to City Council in 400,000 I Mar 2014. Design is near complete. Expect to advertise for bids in Mar 206,349 I 2014, with construction beginning in Jun 2014. Expect to issue RFP in Mar 2014, with design commencing in 50,000 I Apr 2014. 461,636 I Completed. Salvation Army Trail Abalone Cove Sewer Design is in process. Expect to advertise for bids in Apr 2014, with construction to begin in May 2014. Additional funding is 330-3033 j__ 103,000 needed, and Staff expects to report to City Council in March. -------------+i-3-30 ___ 3_0_3_5 1 567,000 System evaluation is currently being conducted. Expect design to be completed by Apr 2014, with construction Basswood Avenue Sewer 330-3035 i 114,000 I beginning in Jun 2014. Ironwood Street Sewer I . 1 Expect design to be completed by Apr 2014, with construction . 330-3035 ; 247,275 beginning in Jun 2014. --------------+-:-~ i Expect design to be completed by Apr 2014, with construction 1330-3035 I PVDS at Schooner Drive Sewer I PVDS at Sea Cove Drive Sewer 330-3035 : West General Street Sewer 330-3035 ADA Transition Plan Projects !330-3036' 603,000 I beginning in Jun 2014. i Expect design to be completed by Apr 2014, with construction 199 ,000 I beginning in Jun 2014. Expect design to be completed by Apr 2014, with construction 122,000 I beginning in Jun 2014. Design is in process. Construction expected to begin in Jul 375,000 12014. F - 1 6 CAPITAL IMPROVEMENT PLAN FY13-14 APPROPRIATIONS PROJECT STATUS Hesse Park Multi-Purpose Room Audio/Visual Upgrade Hesse Park/Ryan Park Fiber Optic Cabling Storm Water Quality Monitoring System Storm Water Quality Regional Project San Ramon Canyon Stabilization Marguerite Open Channel Drainage Erosion Paintbrush Canyon Drainage Study PVDE Lower Switchbacks Drainage PVDE San Pedro Canyon Drainage System PVDS (East of Barkentine) Drainage System Storm Drain Lining Storm Drain Master Plan Via Colinita/Vickery Canyon Drainage System 330-3036 330-3036 330-3037 Attachment B Page 3 of 3 Lighting and screen improvements (Phase 1) is expected to be 175,000 I completed by Aug 2014. The project is dependent on and predominantly funded with the Hawthorne Traffic Signal Synchronization Project. The 60,000 !Traffic Signalization project design is nearly complete. This is a joint regional project. Project sites are currently being identified in coordination with other Peninsula cities. 200,000 I Installation is expected to occur mid to late 2014. This is a joint regional project. Project identification will come from plan development, currently in process. The plan and proposed projects will require review/approval by Regional 330-3037 I 200,000 I Board sometime before Jun 2015. 501-3052 I 13,881,901 I Expect construction compl~tion Jun 2014. A feasibility study is in process, with expected completion mid- 501-3052 I 400,000 I 2014. 501-3052' 501-3052 501-3052 501-3052 I 501-30521 501-3052 i ! 1501-3052 I The RFQ for a feasibility study is being developed, with 60,000 I expected completion in spring 2014. This project is on hold, pending completion of the San Ramon 485,000 I Canyon Stabilization. This work will be completed in conjunction with the PVDE 318,122 I rehabilitation project. A feasibility study is underway, with expected completion in 446,000 I mid-2014. Plans and specifications have been developed for video inspection, cleaning and repair that will occur over three years. 748,759 Lining will be programed following repairs. 757, 789 I Expect completion of the Plan late-2014. 242,500 I Scoping and development of the RFQ is currently in process. F - 1 7