FY 2013-14 Mid-Year Financial Review

City of Coronado February 18, 2014

Mid Year Presentation

Updated opening fund balances

Reflecting previous City Council approved adjustments Revenue and expenditure adjustments
Consideration of staffing changes Informational item - Golf Irrigation Project
City of Coronado FY 2013-14 Mid Year Review

General Fund FY 2013-14

Original Budget Opening Balance July 1, 2013 Projected Revenues/Sources Projected Expenditures/Uses OPEB Contribution 36,088 42,047 (41,254) 793 36,881 Mid-Year Revised* (000's) 38,880 42,781 (41,431) (1,800) (450) 38,430 Variance 2,792 734 (177) (1,800) (1,243) 1,549

Projected Ending Balance * Opening Balance reflects audited actual

City of Coronado FY 2013-14 Mid Year Review

General Fund FY 2013-14

City of Coronado FY 2013-14 Mid Year Review

General Fund FY 2013-14

Building & Planning (Com Dev)
Culture And Leisure Community Grants General Government Construction & Maintenance Mid-Year Expenditure Budget* - $41,431,388
* Net of the $1.8 million

OPEB contribution

Public Safety

City of Coronado FY 2013-14 Mid Year Review

All City Funds FY 2013-14

Original Budget Mid-Year Adj.* (000's) Opening Balance July 1, 2013 Projected Revenues/Sources Projected Expenditures/Uses 111,748 56,907 (57,084) (177) 111,571 116,493 58,506 (57,661) 1,800 845 117,338 4,745 1,599 (577) 1,800 1,022 5,767

Variance

Projected Ending Balance

City of Coronado FY 2013-14 Mid Year Review

All City Funds FY 2013-14

Projected Actual Audited 38,880 611 728 4,214 718 700 9,591 1,348 59,704 116,493 Variance 2,792 413 497 888 68 103 373 256 (201) 5,188

Opening Fund Balances

GENERAL RECREATION SERVICES COMMUNITY DEVELOPMENT VEHICLE/EQUIPMENT REPLACMT. FACILITIES REPLCM&REFURB. CAPITAL PROJECTS FUND WASTEWATER GOLF COURSE ALL OTHER TOTAL
City of Coronado FY 2012-13 Mid Year Review

Original 36,088 197 231 3,326 650 598 9,219 1,092 59,904 111,305

Consideration of New Positions

Previously discussed in June 2013 Decision regarding deferred till mid-year

If positions added now:

o Add placeholder budget of $50,000 to Mid Year (Full cost in FY15)

o Return to amend Personnel Auth. & Comp Plan

City of Coronado FY 2013-14 Mid Year Review

Police Officer
Assign primarily to work at schools and with Coronado youth Approximate annualized cost
o $97,000 to $124,000

Increase authorized # of officers to 33

City of Coronado FY 2013-14 Mid Year Review

Police Services Officer

Non-sworn position

Assign primarily to work code enforcement

Approximate annualized cost
o $67,000 to $82,000

Increase # of authorized PSOs to 4

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City of Coronado FY 2013-14 Mid Year Review

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Golf Course Irrigation Project

Replace 25 yr old central irrigation controller

FY 2013-14 CIP project Budget $220,000

Consultant estimate =
Control system replacement Electrical power to satellite controllers Subtotal Contingency (10%) Estimated Total Cost $284,000 $180,000 $464,000 $ 46,000 $510,000

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Golf Course Irrigation Project

Potential for additional budget Replacement equals:
o Savings in water usage o $40,000 to $60,000 annual savings o Compliance with expected water conservation targets

City of Coronado FY 2013-14 Mid Year Review

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Golf Course Irrigation Project

Next Steps
o Seek competitive bids o Return with project budget modification and funding strategy at time of contract award o Defer other less critical CIPS at this time
e.g. Parking Lot irrigation system Retaining wall at hole 5

City of Coronado FY 2013-14 Mid Year Review

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Recommendation
Approve mid-year adjusted budget for all City Funds Direction regarding possible new positions

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