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RANCHO PALOS VERDES <br />MEMORANDUM <br />TO: <br />Dennis McLean & Kathryn Downs <br />FROM: <br />Steve Wolowicz <br />CC: <br />Carolyn Lehr <br />DATE: <br />May 21, 2010 <br />SUBJECT: <br />CC meeting item #4 budget FY 10-11 <br />QUESTIONS AND COMMENTS: <br />Dennis and Kathryn, <br />My apology for this late delivery of my questions. Unfortunately this has been a very busy three-week <br />period with City issues and meetings. I understand that I may find answers to some of these <br />questions in the detail charts. Given this late delivery, I am not requesting for answers this evening, <br />just be aware of these items for discussion during our meeting. <br />Thanks, <br />Steve <br />Carryover topics from last year <br />1. Did the two one-time transfers from FEMA account ($113,000) and recycling revenues account <br />($230,000) fully exhaust those funds? <br />Staff Reply: <br />No, there is still a $274,430 FEMA reserve in the CIP Fund. There is still an estimated fund balance <br />of more than $100,000 in the Beautification Fund (recycling monies). <br />2. The total budgeted revenues (excluding TOT) for FY 09-10 is almost the same as FY 10-11, is <br />that true for actual revenues also? <br />Staff Reply: <br />Of course, we don't yet know what actual revenues for FY09-10 will be and its difficult to project. <br />We believe that actual revenues for FY09-10 will near budgeted revenue. We are not aware of any <br />significant variances at this time. <br />3. In the Park Ranger program was the JAG grant received and has it been included in FY 10-11 <br />budget? <br />Staff Reply: <br />The receipt of that grant is included in FY09-10 revenue. <br />FY 10-11 issues <br />4. Just be clear on the budget worksheet. The total impact to the general fund reserves — if all <br />amounts, including the items not included in staff's proposed budget would result in a decrease <br />of the GF reserve of $418,872 with an excess GF reserve of $1,060,048. <br />Page 1 of 3 <br />I:1Budget 20101Steve Replies—McLean edits.doc 05122/10 6:33 AM <br />