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Public Hearing to the Proposed FY19-20 Budget
<br />June 4, 2019
<br />Page 7
<br />fiscal years. The proposed FY19-20 CIP budget is $59.1 million, funded primarily with restricted
<br />money. A summary follows:
<br />Projects
<br />Funding
<br />Streetlight Improvements
<br />200,000
<br />Arterial Street Rehab
<br />6,038,541
<br />General Fund
<br />200,000
<br />Curb, Gutter, Sidewalks
<br />4,082,000
<br />Measure M Fairshare
<br />5,014,800
<br />Local Street Resurfacing _
<br />3,921,227
<br />OCTA Streetcar Funding_
<br />545,945
<br />Infrastructure Planning _ _
<br />730,000 ;
<br />Cell Tower Revenue
<br />6521 052
<br />_
<br />Bristol Street Phase 4
<br />247,800
<br />Gas Tax (RMRA+HUTA) _j
<br />5,798,541
<br />'Traffic &Safety Improvements i
<br />9,174,000
<br />Water Enterprise
<br />15,672,300
<br />'OCStreetcar
<br />545,945
<br />Sewer Enterprise
<br />12,613,000
<br />-Park Facilitylmprovements
<br />5_633,000
<br />-Civic Center Fund _�2,766,000
<br />Sewer Improvements
<br />12,613,000
<br />CDBG
<br />Water Facility Improvements !
<br />15,672,300
<br />Fed&CA Active Transportation
<br />12,459,000
<br />StormwaterImprovements
<br />— 250,000'
<br />Developer Fees 425,948
<br />Total— _ __ —$
<br />59,107,813
<br />'Total
<br />j $59,107,813
<br />In addition to the FY19-20 CIP budget, we expect significant carryovers from the FY18-19 CIP
<br />budget for projects not completed by June 30, 2019. The FY18-19 CIP budget began with $33.5
<br />million of new appropriations (the budget document reflected $40.1 million, including prior year
<br />carryovers). The FY18-19 CIP budget increased by $59.7 million for projects carried over from
<br />FY17-18 to FY18-19. The FY18-19 budget further increased by subsequent adjustments
<br />approved by City Council totaling $39.5 million. The revised FY18-19 CIP budget is currently
<br />$132.7 million. Actual FY18-19 expenditures may be approximately $32.0 million, leaving
<br />potentially $100.7 million to carryover to FY19-20.
<br />Illustrative Only
<br />Original CIP Budget
<br />Carryovers from Prior Year
<br />New Revenue &Appropriations
<br />Revised CIP Budget
<br />Expected Spend
<br />Potential to Carryover
<br />STRATEGIC PLAN ALIGNMENT
<br />FY18-19
<br />FY19-20
<br />$ 33,514,959 $ 59,107,813
<br />59,670,896 100,660'928
<br />39,475,073
<br />$ 132, 660, 928 $159, 768, 741
<br />(32,000,000)
<br />$ 100, 660, 928
<br />This public hearing assists the City with meeting Goal #4, Objectives 1, 2, and 3 — Maintain a
<br />stable, efficient and transparent financial environment; provide a reliable five-year financial
<br />forecast that ensures financial stability in accordance with the strategic plan; and maintain a
<br />structurally balanced budget with appropriate reserve levels.
<br />75A-1-7
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