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Home My WebLink About2023-10 CC ResolutionRESOLUTION NO.2023-10 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF TEMECULA, AMENDING THE FISCAL YEAR 2022-23 ANNUAL OPERATING BUDGET THE CITY COUNCIL OF THE CITY OF TEMECULA DOES HEREBY RESOLVE AS FOLLOWS: Section 1. The purpose of this review is to conduct an analysis of revenues and expenditures to ensure that the City maintains a prudent and healthy fiscal position. Section 2. That each year a mid -year review is conducted of City operating budgets. Section 3. That the mid -year review has been completed and the recommended adjustments are reflected in the attached schedules for the City's General Fund, Special Revenue, Debt Service and Internal Services Funds. Section 4. That the Fiscal Year 2022-23 General Fund and Measure S Fund Annual Operating Budgets are hereby amended in accordance with the attached Exhibit A, General Fund Fiscal Year 2022-23 Mid -Year Budget. Section 5. That the Fiscal Year 2022-23 Special Revenue Funds Annual Operating Budgets are hereby amended in accordance with the attached Exhibit B — Special Revenue and Debt Service Funds Fiscal Year 2022-23 Mid -Year Budget. Section 6. That the Fiscal Year 2022-23 Internal Services Funds Annual Operating Budgets are hereby amended in accordance with the attached Exhibit C, Internal Services Funds Fiscal Year 2022-23 Mid -Year Budget. Section 9. The City Clerk shall certify adoption of the resolution. 1 PASSED, APPROVED, AND ADOPTED by the City Council of the City of Temecula this 14`" day of February, 2023. Zak Schwank, Mayor ATTEST: Rand] Jo 1, City Clerk [SEAL] 1 1 STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss CITY OF TEMECULA ) I, Randi Johl, City Clerk of the City of Temecula, do hereby certify that the foregoing Resolution No. 2023-10 was duly and regularly adopted by the City Council of the City of Temecula at a meeting thereof held on the 14t' day of February, 2023, by the following vote: AYES: 5 COUNCIL MEMBERS: Alexander, Brown, Kalfus, Schwank, Stewart NOES: 0 COUNCIL MEMBERS ABSTAIN: 0 COUNCIL MEMBERS ABSENT: 0 COUNCIL MEMBERS: 1 I None None None Randi Johl, City Clerk 3 1 u 1 EXHIBIT A General Fund & Measure S Fund 1 1 Awk i he P{ear t of Southern Caf;fomia w- Count-ry FUND: 001 - GENERAL FUND City of Temecula Fiscal Year 2022-23 Quarterly Budget Report 2022-23 Yearto Date 2022-23 Q2 2021-22 Current Actuals Revised Description Actuals Budget 12-31-2022 Budget Revenues by Source Taxes and Franchises Property Tax 10,040,635 10,481,183 3,348,077 9,993,992 Sales Tax 49,147,752 47,818,800 16,527,959 50,142,000 Sales Tax Sharing Agreement (1,306,605) (1,362,404) (326,484) (1,308,245) Franchise Fees 3,681,119 3,775,740 1,168,524 3,775,740 Transient Occupancy Tax 4,530,407 3,859,035 1,785,474 4,442,549 Special Tax (Measure C) 1,817,297 1,881,987 0 1,881,987 Licenses, Permits and Service Charges Development Impact Fees 47,440 18,000 0 18,000 Charges For Services 1,190 0 711 1,000 Business Licenses 258,390 265,302 128,614 265,302 Land Development 2,023,361 1,210,840 924,125 1,922,872 Public Works 0 4,942 0 4,942 Parks Maintenance 0 1,372 0 1,372 Building 3,074,244 1,968,768 1,574,758 2,528,768 Planning 640,803 610,498 296,416 644,467 Police 93,805 47,575 105,297 147,575 Fire 1,172,635 699,502 761,098 1,044,502 Development Fees 341,599 161,070 130,741 169,370 Fines and Forfeitures Fines & Forfeitures 563,045 513,460 155,340 527,060 Use of Money and Property Investment Interest (2,097,251) 73,950 (985,627) 0 Lease/Rental Income 230,705 217,897 113,033 217,897 Other 63,284 125,380 26,920 304,112 Intergovernmental Revenues Property Tax In Lieu Of VLF 9,195,968 9,824,052 0 9,883,000 Vehicle License Fees 130,279 87,954 0 87,954 Grants 16,508 0 13,045 13,045 Reimbursements Capital Improvement Program 2,656,349 2,402,842 740,291 2,402,842 Pechanga IGA 368,219 368,219 0 368,219 Other Reimbursements 386,475 1,203,762 81,872 748,322 Operating Transfers In Operating Transfers In 10,310,929 15,814,034 0 15,356,859 Contribution From Measure S 6,266,670 6,382,496 3,191,248 5,579,600 Miscellaneous Miscellaneous 50,192 9,547 9,879 13,547 Total Revenues and Other Sources 103,705,445 108,465,802 29,771,310 111,178,650 Expenditures by Category Salaries & Benefits 18,180,891 21,666,546 10,591,877 21,321,038 Operations & Maintenance 53,829,052 63,276,860 18,375,206 63,988,183 Internal Service Fund Allocations 6,011,184 7,123,059 3,492,892 7,123,059 Capital Outlay 821,501 849,027 264,347 600,507 % Change from Requested Current Adjustments Budget (487,191) -4.6 % 2,323,200 4.9 % 54,159 -4.0 % 0 0.0 % 583,514 15.1 % 0 0.0 % 0 0.0 % 1,000 100.0 % 0 0.0 % 712,032 58.8 % 0 0.0 % 0 0.0 % 560,000 28.4 % 33,969 5.6 % 100,000 210.2 % 345,000 49.3 % 8,300 5.2 % 13,600 2.6 % (73,950) -100.0 % 0 0.0 % 178,732 142.6 % 58,948 0.6 % 0 0.0 % 13,045 100.0 % 0 0.0 % 0 0.0 % (455,440) -37.8 % (457,175) -2.9 % (802,896) -12.6 % 4,000 41.9 % 2,712,848 2.5 % (345,508) -1.6 % 711,323 1.1 % 0 0.0 % (248,520) -29.3 % Ilt "'T rh��ea��ofsonIhe,ncanrn Wine Country City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 001 - GENERAL FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Transfers 14,080,420 37,031,756 1,079,810 37,031,756 0 0.0 % Total Expenditures and Other Financing Uses 92,923,048 129,947,248 33,804,131 130,064,543 117,295 0.1 % Excess of Revenues Over (Under) Expenditures 10,782,396 (21,481,446) (4,032,821) (18,885,893) 2,595,553 -12.1 % Fund Balance, Beginning of Year 45,243,940 56,026,336 56,026,336 Fund Balance, End of Year 56,026,336 34,544,891 37,140,443 Fund Description The General Fund is the main operating fund for the City of Temecula. It is used to account for all financial resources for the City that are not restricted to a special purpose and otherwise required to be accounted for in another fund. The General fund provides the resources necessary to sustain the day-to-day activities and pays for all administrative and operating expenditures. 1 City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 002 - MEASURE S FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Taxes and Franchises Transactions And Use Tax 39,199,804 37,610,081 13,050,311 39,971,000 2,360,919 6.3 % Use of Money and Property Investment Interest (215,735) 70,380 13,554 0 (70,380) -100.0 % Total Revenues and Other Sources 38,984,069 37,680,461 13,063,865 39,971,000 2,290,539 6.1 % Expenditures by Category Transfers 29,523,899 58,390,328 11,676,170 57,044,723 (1,345,605) -2.3 % Total Expenditures and Other Financing Uses 29,523,899 58,390,328 11,676,170 57,044,723 (1,345,605) -2.3 % Excess of Revenues Over (Under) Expenditures 9,460,170 (20,709,867) 1,387,696 (17,073,723) 3,636,144 -17.6 % Fund Balance, Beginning of Year 25,215,603 34,675,773 34,675,773 Fund Balance, End of Year 34,675,773 13,965,906 17,602,050 Fund Description Measure 5, approved by the voters on November 8, 2016, established a one -cent Transactions and Use Tax for the City. The measure was approved based on the commitment to maintain 9-1-1 emergency response times, prevent cuts to local paramedic/police/fire protection, school safety patrols, youth/after-school, senior and disabled services; improve freeway interchanges/reduce traffic and provide for other general services. 1 I EXHIBIT B Special Revenue Funds 10 I Debt Service Funds 1 11 1 ll lk The If of Southern California Wine Country FUND: 006 - FIRE FACILITY ACQUISITION FUND City of Temecula Fiscal Year 2022-23 Quarterly Budget Report % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest 0 0 547 0 0 0.0 % Operating Transfers In Operating Transfers In 0 1,500,000 0 1,500,000 0 0.0 % Total Revenues and Other Sources 0 1,500,000 547 1,500,000 0 0.0 % Excess of Revenues Over (Under) Expenditures 0 1,500,000 547 1,500,000 0 0.0 % Fund Balance, Beginning of Year 0 0 0 Fund Balance, End of Year 0 1,500,000 1,500,000 Fund Description This fund was established to accumulate resources necessary to acquire property for a future Fire Station, construct new Fire Station or refurbish existing Fire Stations. 1 1 1 l Wine Country FUND: 105 - NPDES IN LIEU FEES FUND City of Temecula Fiscal Year 2022-23 Quarterly Budget Report % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Development Fees 1,943 200,000 41,525 1,100,000 900,000 450.0 % Use of Money and Property Investment Interest (3) 0 (59) 0 0 0.0 % Total Revenues and Other Sources 1,940 200,000 41,466 1,100,000 900,000 450.0 % Excess of Revenues Over (Under) Expenditures 1,940 200,000 41,466 1,100,000 900,000 450.0 % Fund Balance, Beginning of Year 0 1,940 1,940 Fund Balance, End of Year 1,940 201,940 1,101,940 Fund Description This fund was established to account for the collection of In Lieu fees associated with the National Pollutant Discharge Elimination System (NPDES). �►,`�`� City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 106 - UPTOWN TEMECULA NEW STREETS IN -LIEU FEES % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Development Impact Fees 0 98,400 0 98,400 0 0.0 % Use of Money and Property Investment Interest (6,630) 6,600 527 0 (6,600) -100.0 % Total Revenues and Other Sources (6,630) 105,000 527 98,400 (6,600) -6.3 % Excess of Revenues Over (Under) Expenditures (6,630) 105,000 527 98,400 (6,600) -6.3 % Fund Balance, Beginning of Year 895,391 888,761 888,761 Fund Balance, End of Year 888,761 993,761 987,161 Fund Description This fund was established in conjunction with the adoption of the Uptown Temecula Specific Plan New Streets In -Lieu Fee. The Specific Plan requires developers to dedicate right-of-way and construct new street improvements adjacent to or through their development sites. Developers within the Specific Plan who cannot contribute right-of-way and/or build new streets will be chargec a new streets in -lieu fee. 1 1 1 City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 108 - ARPA % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Intergovernmental Revenues Grants 7,039,754 7,039,754 7,039,754 7,039,754 0 0.0 % Total Revenues and Other Sources 7,039,754 7,039,754 7,039,754 7,039,754 0 0.0 % Expenditures by Category Transfers 7,039,754 7,039,754 0 7,039,754 0 0.0 % Total Expenditures and Other Financing Uses 7,039,754 7,039,754 0 7,039,754 0 0.0 % Excess of Revenues Over (Under) Expenditures 0 0 7,039,754 0 0 0.0 % Fund Balance, Beginning of Year Fund Balance, End of Year 0 0 0 0 0 Fund Description This fund was established to account for the receipt of Federal 2021-22 American Rescue Plan Act (ARPA) funds. 1lAft City of Temecula Fiscal Year 2022-23 Quarterly Budget Report . , W— Country FUND: 110 - COVID-19 PANDEMIC COMMUNITY REINVESTMENT PROGRAM % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Operating Transfers In Operating Transfers In 0 7,040,000 0 7,040,000 0 0.0 % Total Revenues and Other Sources 0 7,040,000 0 7,040,000 0 0.0 % Expenditures by Category Salaries & Benefits 5,106 24,067 16,048 24,067 0 0.0 % Operations & Maintenance 0 7,435,538 58,775 7,435,538 0 0.0 % Capital Outlay 0 100,000 0 100,000 0 0.0 % Transfers 0 1,000,000 0 1,000,000 0 0.0 % Total Expenditures and Other Financing Uses 5,106 8,559,605 74,823 8,559,605 0 0.0 % Excess of Revenues Over (Under) Expenditures (5,106) (1,519,605) (74,823) (1,519,605) 0 0.0 % Fund Balance, Beginning of Year (5,106) (5,106) Fund Balance, End of Year (5,106) (1,524,711) (1,524,711) Fund Description This fund was established in Fiscal Year 2021-22 to provide various community grants to support the local economy in its recovery from the COVID-19 global pandemic. Available General Fund balance was transferred into this fund to establish this new program. 1 City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 100 -GAS TAX FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Taxes and Franchises Gas Tax 2,631,694 3,282,718 986,198 2,825,546 (457,172) -13.9 % Use of Money and Property Investment Interest 7,035 0 1,555 0 0 0.0 % Total Revenues and Other Sources 2,638,730 3,282,718 987,753 2,825,546 (457,172) -13.9 % Expenditures by Category Transfers 2,740,607 3,282,718 0 2,825,546 (457,173) -13.9 % Total Expenditures and Other Financing Uses 2,740,607 3,282,718 0 2,825,546 (457,173) -13.9 % Excess of Revenues Over (Under) Expenditures (101,877) 0 987,753 1 1 100.0 % Fund Balance, Beginning of Year 101,877 0 0 Fund Balance, End of Year 0 0 0 Fund Description This fund was established to account for the tax per gallon on the purchase of motor vehicle fuel imposed by the State of California. A portion is allocated to the City of Temecula as specified in the California Streets and Highways Code (SHC) (Sections 2013, 2105, 2107 and 2107.5). Gas Tax monies are restricted to the repair, maintenance and upkeep of City streets and roads, and the purchase of equipment used to maintain roads. / ( W-c- nuy City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 102 - ROAD MAINTENANCE REHABILITATION ACCOUNT (RMRA) FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Taxes and Franchises Gas Tax 2,250,420 2,570,577 994,098 2,384,080 (186,497) -7.3 % Use of Money and Property Investment Interest (23,994) 14,250 1,078 0 (14,250) -100.0 % Total Revenues and Other Sources 2,226,427 2,584,827 995,177 2,384,080 (200,747) -7.8 % Expenditures by Category Transfers 2,250,420 2,269,086 0 2,269,086 0 0.0 % Total Expenditures and Other Financing Uses 2,250,420 2,269,086 0 2,269,086 0 0.0 % Excess of Revenues Over (Under) Expenditures (23,993) 315,741 995,177 114,994 (200,747) -63.6 % Fund Balance, Beginning of Year 1,585,330 1,561,337 1,561,337 Fund Balance, End of Year 1,561,337 1,877,078 1,676,331 Fund Description This fund is to account for gasoline and vehicle registration taxes pursuant to the Road Repair and Accountability Act of 2017 (SB1 Beall). Monies are collected by the State of California and allocated to local agencies for streets and roads projects and other transportation uses. 1 1 FUND: 103 - STREET MAINTENANCE FUND City of Temecula Fiscal Year 2022-23 Quarterly Budget Report % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest (37,492) 10,800 3,100 0 (10,800) -100.0 % Operating Transfers In Contribution From Measure S 2,000,000 2,000,000 1,000,000 2,000,000 0 0.0 % Total Revenues and Other Sources 1,962,508 2,010,800 1,003,100 2,000,000 (10,800) -0.5 % Expenditures by Category Transfers 0 3,600,000 0 3,600,000 0 0.0 % Total Expenditures and Other Financing Uses 0 3,600,000 0 3,600,000 0 0.0 % Excess of Revenues Over (Under) Expenditures 1,962,508 (1,589,200) 1,003,100 (1,600,000) (10,800) 0.7 % Fund Balance, Beginning of Year 3,461,494 5,424,002 5,424,002 Fund Balance, End of Year 5,424,002 3,834,802 3,824,002 Fund Description This fund was established to accumulate resources for the future replacement of streets and roads throughout the City. 1 7 1 City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 120 - DEVELOPMENT IMPACT FEES FUND Description Revenues by Source Licenses, Permits and Service Charges Development Impact Fees Quimby Fees Use of Money and Property Investment Interest Total Revenues and Other Sources Expenditures by Category Transfers Total Expenditures and Other Financing Uses Excess of Revenues Over (Under) Expenditures % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Actuals Budget 12-31-2022 Budget Adjustments Budget 2,445,390 12,211,948 2,036,591 7,009,231 (5,202,717) -42.6 % 1,952,029 1,330,512 0 1,330,512 0 0.0 % (43,616) 22,000 3,313 0 (22,000) -100.0 % 4,353,803 13,564,460 2,039,905 8,339,743 (5,224,717) -38.5 % 264,039 9,557,980 0 6,107,980 (3,450,000) -36.1 % 264,039 9,557,980 0 6,107,980 (3,450,000) -36.1 % 4,089,764 4,006,480 2,039,905 2,231,763 (1,774,717) -44.3 % Fund Balance, Beginning of Year 3,564,979 7,654,743 7,654,743 Fund Balance, End of Year 7,654,743 11,661,223 9,886,505 Fund Description This fund accounts for the development impact fees received as a result of development activity within the City. The fees are primarily used to fund Capital Improvement Projects designed to mitigate the impacts of development projects. 1 1 r Th,-1a—t �,r Soutle City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 125 - PUBLIC EDUCATION & GOVERNMENT (PEG) FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Taxes and Franchises Peg Fees 198,322 200,000 45,226 200,000 0 0.0 % Use of Money and Property Investment Interest (5,266) 3,300 342 0 (3,300) -100.0 % Total Revenues and Other Sources 193,057 203,300 45,568 200,000 (3,300) -1.6 % Expenditures by Category Capital Outlay 106,045 140,223 16,683 140,223 0 0.0 % Total Expenditures and Other Financing Uses 106,045 140,223 16,683 140,223 0 0.0 % Excess of Revenues Over (Under) Expenditures 87,011 63,077 28,884 59,777 (3,300) -5.2 % Fund Balance, Beginning of Year 623,661 710,672 710,672 Fund Balance, End of Year 710,672 773,749 770,449 Fund Description This fund was established to account for Public Education and Government (PEG) fees. Fees received from local cable operators for the sole purpose of supporting the access facilities and activities within the City. 1 1 1 1 City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 140 - COMMUNITY DEV BLOCK GRANT FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Intergovernmental Revenues Community Development Block Grant 646,010 575,000 171,180 574,116 (884) -0.2 % CDBG - CV GRANTS 329,000 0 0 0 0 0.0 % CDBG - CV2 GRANTS 125,182 630,894 15,184 719,431 88,537 14.0 % Total Revenues and Other Sources 1,100,192 1,205,894 186,364 1,293,547 87,653 7.3 % Expenditures by Category Salaries & Benefits 36,635 36,836 18,694 36,836 0 0.0 % Operations & Maintenance 317,891 237,741 206,412 313,962 76,221 32.1 % Transfers 354,159 954,554 0 994,681 40,127 4.2 % Total Expenditures and Other Financing ' Uses 708,685 1,229,131 225,105 1,345,479 116,348 9.5 % Excess of Revenues Over (Under) Expenditures 391,506 (23,237) (38,741) (51,932) (28,695) 123.5 % Fund Balance, Beginning of Year (282,957) 108,549 108,549 Fund Balance, End of Year 108,549 85,312 56,617 Fund Description This fund was established to account for grants received from the U.S. Department of Housing and Urban Development (HUD). The grants are used for the redevelopment of a viable community by providing decent housing, a suitable living environment, and for expanding opportunities, principally for persons of low and moderate income. City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 145 - TEMECULA ENERGY EFFICIENCY ASSET (TEAM) FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest (6,210) 0 494 0 0 0.0 % Total Revenues and Other Sources (6,210) 0 494 0 0 0.0 % Expenditures by Category Transfers 0 98,929 0 98,929 0 0.0 % Total Expenditures and Other Financing Uses 0 98,929 0 98,929 0 0.0 % Excess of Revenues Over (Under) Expenditures (6,210) (98,929) 494 (98,929) 0 0.0 % Fund Balance, Beginning of Year 839,738 833,528 833,528 Fund Balance, End of Year 833,528 734,599 734,599 Fund Description This fund was established to capture energy efficiency rebates and reimbursements as well as expenditure savings resulting from energy efficiency projects completed at various City facilities. Revenue collected in this fund will be utilized on future energy efficiency projects. 1 1lAlk] f The Heart of Sou' W lne Cuuntry City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 150 - AB 2766 MOTOR VEHICLE SUBVENTION FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest (1,851) 315 84 0 (315) -100.0 % Intergovernmental Revenues AB2766 Motor Vehicle Subvention 106,782 150,174 73,989 150,174 0 0.0 % Total Revenues and Other Sources 104,930 150,489 74,073 150,174 (315) -0.2 % Expenditures by Category Operations & Maintenance 20,000 10,000 0 10,000 0 0.0 % Transfers 6,700 216,955 0 216,955 0 0.0 % Total Expenditures and Other Financing Uses 26,700 226,955 0 226,955 0 0.0 % Excess of Revenues Over (Under) Expenditures 78,230 (76,466) 74,073 (76,781) (315) 0.4 % Fund Balance, Beginning of Year 172,301 250,531 250,531 Fund Balance, End of Year 250,531 174,065 173,750 Fund Description This fund was established to account for subvention funds that are used to implement programs and projects that reduce air pollution from motor vehicles. AB2766 Funds are derived from a Motor Vehicle Registration fee surcharge. Local governments are allocated $1.60 for every eligible vehicle registered within the South Coast Air Quality Management District. Funds are disbursed based on the City's population as a percentage of the total population within the District. This fund is used for Capital projects and the City's share of WRCOG's Clean Cities Coalition. 1 Itj C ( �-!""' ea so a F Wine co—t.� City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 160 - SUPPLEMENTAL LAW ENFORCEMENT SERVICES FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest 908 665 105 0 (665) -100.0 % Intergovernmental Revenues SLESF Grant 277,001 280,000 137,763 280,000 0 0.0 % Total Revenues and Other Sources 277,909 280,665 137,868 280,000 (665) -0.2 % Expenditures by Category Transfers 364,530 367,286 0 367,286 0 0.0 % Total Expenditures and Other Financing Uses 364,530 367,286 0 367,286 0 0.0 % Excess of Revenues Over (Under) Expenditures (86,621) (86,621) 137,868 (87,286) (665) 0.8 % Fund Balance, Beginning of Year 86,621 0 0 Fund Balance, End of Year 0 (86,621) (87,286) Fund Description This fund was established to account for the Supplemental Law Enforcement Services grant monies from the State of California which are provided to assist cities in delivering front line law enforcement services. These monies supplement existing services and may not be used to supplant any existing funding for law enforcement services provided by the City. 1 1 1 City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 161 - TEMECULA MAJOR CRIMES REWARD FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest (255) 0 6 0 0 0.0 % Total Revenues and Other Sources (255) 0 6 0 0 0.0 % Expenditures by Category Transfers 26,952 0 0 0 0 0.0 % Total Expenditures and Other Financing Uses 26,952 0 0 0 0 0.0 % Excess of Revenues Over (Under) Expenditures (27,207) 0 6 0 0 0.0 % Fund Balance, Beginning of Year 27,207 0 0 Fund Balance, End of Year 0 0 0 Fund Description This fund was established to account for a reward for information that leads to the capture and conviction of the person(s) responsible for the murder of Larry Robinson and Justin Triplett. The General Fund contributed $25,000 and the public can also contribute to this fund. The fund was established in accordance with Resolution Nos. 13-25 and 15-37. In April of 2018, Council adopted Resolution No. 18-24 for the continuation of the reward for an additional three years (to March 22, 2021) to assist the Sheriff in the investigation since no person has been arrested for the Larry Robinson murder. L�Alk Wine Country FUND: 165 - AFFORDABLE HOUSING FUND City of Temecula Fiscal Year 2022-23 Quarterly Budget Report % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Taxes and Franchises Redevelopment Property Tax Fund 0 557,000 0 900,000 343,000 61.6 % Distribution Use of Money and Property Investment Interest (13,847) 14,000 2,465 0 (14,000) -100.0 % Lease/Rental Income (14,301) 0 0 0 0 0.0 % Intergovernmental Revenues Agency Trust Contribution 250,000 250,000 0 250,000 0 0.0 % Total Revenues and Other Sources 221,852 821,000 2,465 1,150,000 329,000 40.1 % Expenditures by Category Salaries & Benefits 240,712 233,329 124,218 233,329 0 0.0 % Operations & Maintenance 37,088 295,518 45,134 345,S18 50,000 16.9 % Internal Service Fund Allocations 34,060 37,802 19,596 37,802 0 0.0 % Transfers 0 557,000 0 557,000 0 0.0 % Total Expenditures and Other Financing Uses 311,860 1,123,649 188,948 1,173,649 50,000 4.4 % Excess of Revenues Over (Under) Expenditures (90,008) (302,649) (186,483) (23,649) 279,000 -92.2 % Fund Balance, Beginning of Year 12,054,618 11,964,610 11,964,610 Fund Balance, End of Year 11,964,610 11,661,961 11,940,961 Fund Description The Affordable Housing fund contains the assets as well as loan and rental income which have been transferred to the City of Temecula from the former Redevelopment Agency. 1 1 1 --/ the �eat of joutheCall�onli, Wine co-1 City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 170 - MEASURE A FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Use of Money and Property Investment Interest (74,771) 53,500 5,887 0 (53,500) -100.0 % Intergovernmental Revenues Measure A 4,141,441 3,227,000 1,477,605 4,334,000 1,107,000 34.3 % Total Revenues and Other Sources 4,066,670 3,280,500 1,483,493 4,334,000 1,053,500 32.1 % Expenditures by Category Operations & Maintenance 1,599,339 2,968,379 2,405,402 2,968,379 0 0.0 % Transfers 2,834,725 2,575,000 0 2,575,000 0 0.0 % Total Expenditures and Other Financing Uses 4,434,064 5,543,379 2,405,402 5,543,379 0 0.0 % Excess of Revenues Over (Under) Expenditures (367,394) (2,262,879) (921,909) (1,209,379) 1,053,500 -46.6 % Fund Balance, Beginning of Year 9,430,636 9,063,242 9,063,242 Fund Balance, End of Year 9,063,242 6,800,363 7,853,863 Fund Description This fund was established to account for the City's allocation of the County of Riverside's additional one-half percent sales tax for transportation. These monies are restricted for use on local streets. In 2002, Measure A was extended by Riverside County voters. Measure A will continue to fund transportation improvements through 2039. City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 198 - PUBLIC ART FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Public Art 41,837 17,850 23,052 17,850 0 0.0 % Use of Money and Property Investment Interest (941) 500 62 0 (500) -100.0 % Total Revenues and Other Sources 40,896 18,350 23,114 17,850 (500) -2.7 % Expenditures by Category Operations & Maintenance 0 30,000 0 30,000 0 0.0 % Total Expenditures and Other Financing Uses 0 30,000 0 30,000 0 0.0 % Excess of Revenues Over (Under) Expenditures 40,896 (11,650) 23,114 (12,150) (500) 4.3 % Fund Balance, Beginning of Year 91,099 131,995 131,995 Fund Balance, End of Year 131,995 120,345 119,845 Fund Description This fund was established pursuant to Temecula Municipal Code Section 5.08.040, whereby the fund serves a a depository for the fees paid in lieu of art as well as monetary donations for public art. The Public Art In Lieu fee is one -tenth of one percent of an eligible development project in excess of $100,000. Eligble uses of this fund include the design, acquisition, installation, improvement, maintenance and insurance of public artwork; offering of performing arts programs on City property for the community; and art education programs on City property for the community. 1 C� City of Temecula Fiscal Year 2022-23 Quarterly Budget Report Wine Counny FUND: 395 - 2018 FINANCING LEASE (CIVIC CENTER) FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Operating Transfers In Operating Transfers In 1,962,107 13,425,327 801,906 13,425,327 0 0.0 % Total Revenues and Other Sources 1,962,107 13,425,327 801,906 13,425,327 0 0.0 % Expenditures by Category Operations & Maintenance 1,962,107 13,425,327 400,689 13,425,327 0 0.0 % Total Expenditures and Other Financing Uses 1,962,107 13,425,327 400,689 13,425,327 0 0.0 % Excess of Revenues Over (Under) Expenditures 0 0 401,218 0 0 0.0 % Fund Balance, Beginning of Year 0 0 0 Fund Balance, End of Year 0 0 0 Fund Description This fund was established to account for the payment of interest and principal of the refunding of the 2001 and 2008 Certificates of Participation (COPS). The 2001 COPs were originally issued to finance the construction of the Community Recreation Center and the 2008 COPS were originally issued to finance the construction of the Civic Center. In Fiscal Year 2018-19, the terms of the lease were refinanced, lowering the interest rate from 3.75% to 3.42%. The term of the lease expires September 1, 2033. 1 City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 396 - 2018 FINANCING LEASE (MRC) FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Operating Transfers In Operating Transfers In 555,806 5,316,429 277,903 5,316,429 0 0.0 % Total Revenues and Other Sources 555,806 5,316,429 277,903 5,316,429 0 0.0 % Expenditures by Category Operations & Maintenance 555,806 5,316,429 138,952 5,316,429 0 0.0 % Total Expenditures and Other Financing Uses 555,806 5,316,429 138,952 5,316,429 0 0.0 % Excess of Revenues Over (Under) Expenditures 0 0 138,952 0 0 0.0 % Fund Balance, Beginning of Year 0 0 0 Fund Balance, End of Year 0 0 0 Fund Description This fund was established to account for the payments of interest and principal related to the financing of the rehabilitation of the Margarita Recreation Center (MRC). The Lease Agreement, dated August 1, 2018, generated $6.5 million in proceeds at an interest rate of 3.42%. The Term of the lease expires September 1, 2033, 1 1 EXHIBIT C Internal Service Funds 1 1 1 k the Hear of soutne� C,1 frn n,a `N�ne Count y FUND: 300 - INSURANCE FUND City of Temecula Fiscal Year 2022-23 Quarterly Budget Report % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 1,380,637 1,517,257 1,591,664 1,517,257 0 0.0 % Use of Money and Property Investment Interest (9,398) 8,200 5,146 0 (8,200) -100.0 % Total Revenues and Other Sources 1,371,239 1,525,457 1,596,810 1,517,257 (8,200) -0.5 % Expenditures by Category Salaries & Benefits 136,378 155,760 86,445 155,760 0 0.0 % Operations & Maintenance 1,201,915 1,696,497 1,514,132 1,896,497 200,000 11.8 % Uncategorized Expenses 51,742 0 0 0 0 0.0 % Total Expenditures and Other Financing Uses 1,390,035 1,852,257 1,600,576 2,052,257 200,000 10.8 % Excess of Revenues Over(Under)Expenditures (18,795) (326,800) (3,766) (535,000) (208,200) 63.7 % Fund Balance, Beginning of Year 828,918 810,123 810,123 Fund Balance, End of Year 810,123 483,323 275,123 Fund Description The Insurance Fund was established to account for the City's liability and property insurance costs. Fund Balance is a combination of both spendable and non spendable assets. These costs are allocated to each department based on the total number of Full Time Equivalent positions assigned to those departments. The City has a Self -Insured Retention (SIR) of $150,000 per incident, and strives to maintain a fund balance equal to three times the SIR. Z T City of Temecula 4�%`Fiscal Year 2022-23 Quarterly Budget Report FUND: 305 - WORKERS' COMPENSATION FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 0 437,718 0 437,718 0 0.0 % Use of Money and Property Investment Interest (12,896) 16,700 1,595 0 (16,700) -100.0 % Reimbursements Other Reimbursements 0 0 2,137 0 0 0.0 % Total Revenues and Other Sources (12,896) 454,418 3,732 437,718 (16,700) -3.7 % Expenditures by Category Salaries & Benefits 120,869 156,260 86,444 156,260 0 0.0 % Operations & Maintenance 226,948 316,607 272,799 356,607 40,000 12.6 % Total Expenditures and Other Financing Uses 347,817 472,867 359,243 512,867 40,000 8.5 % Excess of Revenues Over (Under) Expenditures (360,713) (18,449) (355,511) (75,149) (56,700) 307.3 % Fund Balance, Beginning of Year 2,038,333 1,677,620 1,677,620 Fund Balance, End of Year 1,677,620 1,659,171 1,602,471 Fund Description The Workers' Compensation Fund was established in Fiscal Year 2014-15 as the City transitions to a self -insured status for Workers' Compensation liabilities. Departments are charged based on each position allocated on a Full Time Equivalent basis, with a cost assigned to each position based on job duties and potential for risk. The desired Net Position for this fund is $1.5 million, which represents three -times the City's Self -Insured Retention amount of $500,000. r n FUND: 310 - VEHICLES AND EQUIPMENT FUND City of Temecula Fiscal Year 2022-23 Quarterly Budget Report % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 341,896 464,445 168,220 464,445 0 0.0 % Use of Money and Property Investment Interest (20,047) 12,100 1,798 0 (12,100) -100.0 % Operating Transfers In Contribution From Measure S 500,000 500,000 250,000 500,000 0 0.0 % Total Revenues and Other Sources 821,849 976,545 420,018 964,445 (12,100) -1.2 % Expenditures by Category Operations & Maintenance 376,267 0 0 0 0 0.0 % Capital Outlay 0 867,095 237,188 867,095 0 0.0 % Total Expenditures and Other Financing Uses 376,267 867,095 237,188 867,095 0 0.0 % Excess of Revenues Over (Under) Expenditures 445,582 109,450 182,829 97,350 (12,100) -11.1 % Fund Balance, Beginning of Year 4,273,712 4,719,294 4,719,294 Fund Balance, End of Year 4,719,294 4,828,743 4,816,643 Fund Description The Vehicles and Equipment Fund was established to account for the depreciation of vehicles and capital equipment over their estimated useful lives, and to accumulate resources for the purchase of future replacement vehicles and equipment. Fund Balance is a combination of both spendable and non spendable assets. Departments are charged based on the replacement costs for each asset benefitting the department. 1 1 1 1 1l,,] (7" , FUND: 320 - INFORMATION TECHNOLOGY FUND City of Temecula Fiscal Year 2022-23 Quarterly Budget Report % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 4,477,549 5,612,925 2,300,535 5,612,925 0 0.0 % Use of Money and Property Investment Interest (15,680) 7,100 3,731 0 (7,100) -100.0 % Operating Transfers In Contribution From Measure S 300,000 300,000 150,000 300,000 0 0.0 % Total Revenues and Other Sources 4,761,869 5,920,025 2,454,266 5,912,925 (7,100) -0.1 % Expenditures by Category Salaries & Benefits 2,204,994 2,520,960 1,276,742 2,520,960 0 0.0 % Operations & Maintenance 2,410,863 3,326,425 1,432,594 3,326,425 0 0.0 % Internal Service Fund Allocations 2,660 2,660 1,330 2,660 0 0.0 % Capital Outlay 0 115,000 4,140 115,000 0 0.0 % Total Expenditures and Other Financing Uses 4,618,517 5,965,045 2,714,805 5,965,045 0 0.0 % Excess of Revenues Over (Under) Expenditures 143,352 (45,020) (260,539) (52,120) (7,100) 15.8 % Fund Balance, Beginning of Year 1,305,662 1,449,014 1,449,014 Fund Balance, End of Year 1,449,014 1,403,994 1,396,894 Fund Description The Information Technology Fund was established to fund and account for computer and telephone system operating and maintenance expenses. Fund Balance is a combination of both spendable and non spendable assets. Adjustments are made to Fund Balance to include additional spendable resources available for expenditure. Departments are charged based on the number of electronic devices assigned. The Ronald H. Roberts Temecula Public Library facility is charged directly for all IT expenditures and personnel costs related to the facility. "�` / (e' � City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 325 - TECHNOLOGY REPLACEMENT FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 190,474 160,000 84,462 160,000 0 0.0 % Use of Money and Property Investment Interest (15,493) 8,300 1,342 0 (8,300) -100.0 % Operating Transfers In Contribution From Measure S 500,000 500,000 250,000 500,000 0 0.0 % Total Revenues and Other Sources 674,981 668,300 335,804 660,000 (8,300) -1.2 % Expenditures by Category Operations & Maintenance 264,356 0 0 0 0 0.0 % Capital Outlay 0 172,787 67,181 472,787 300,000 173.6 % Total Expenditures and Other Financing Uses 264,356 172,787 67,181 472,787 300,000 173.6 % Excess of Revenues Over (Under) Expenditures 410,625 495,513 268,623 187,213 (308,300) -62.2 % Fund Balance, Beginning of Year 2,060,546 2,471,171 2,471,171 Fund Balance, End of Year 2,471,171 2,966,685 2,658,385 Fund Description The Technology Replacement Fund was established in Fiscal Year 2014-15 in order to accumulate resources for computer and telephone equipment and software to fund future equipment replacement. Fund Balance is a combination of both spendable and non spendable assets. Contributions to this fund are made by departments utilizing the assets in an amount equivalent to the estimated cost to replace the item at the end of its useful life. 1 1 1 LLAft FUND: 330 - SUPPORT SERVICES FUND City of Temecula Fiscal Year 2022-23 Quarterly Budget Report % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 336,771 379,963 165,722 379,963 0 0.0 % Use of Money and Property Investment Interest (301) 105 104 0 (105) -100.0 % Total Revenues and Other Sources 336,470 380,068 165,826 379,963 (105) 0.0 % Expenditures by Category Salaries & Benefits 239,455 253,946 135,646 253,946 0 0.0 % Operations & Maintenance 97,617 126,018 93,433 126,018 0 0.0 % Total Expenditures and Other Financing Uses 337,072 379,963 229,079 379,963 0 0.0 % Excess of Revenues Over (Under) Expenditures (602) 105 (63,253) 0 (105) -100.1 % Fund Balance, Beginning of Year 4,024 3,422 3,422 Fund Balance, End of Year 3,422 3,527 3,422 Fund Description The Support Services Fund was established as a cost center for the City's central receptionist, duplicating, printing, and mailing activities. It is also used to depreciate all related copying and mailing equipment over their useful lives, and to accumulate resources for the purchase of future equipment. Fund Balance is a combination of both spendable and non spendable assets. Departments are charged based on a count of copies made in the previous fiscal year. Aft /1111 The Heart of Southern C,,hj- a wi- Country City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 335 - SUPPORT SERVICES REPLACEMENT FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 41,997 25,000 20,234 25,000 0 0.0 % Use of Money and Property Investment Interest (2,516) 2,600 347 0 (2,600) -100.0 % Total Revenues and Other Sources 39,481 27,600 20,581 25,000 (2,600) -9.4 % Expenditures by Category Operations & Maintenance 54,403 0 0 0 0 0.0 % Capital Outlay 0 25,000 12,964 25,000 0 0.0 % Total Expenditures and Other Financing Uses 54,403 25,000 12,964 25,000 0 0.0 % Excess of Revenues Over (Under) Expenditures (14,922) 2,600 7,618 0 (2,600) -100.0 % Fund Balance, Beginning of Year 404,324 389,402 389,402 Fund Balance, End of Year 389,402 392,002 389,402 Fund Description The Support Services Replacement Fund was established to accumulate resources for the future replacement of the City's duplicating equipment. 1 Aft �Ea,�rso�, enc�i,fo Wine County City of Temecula Fiscal Year 2022-23 Quarterly Budget Report FUND: 340 - FACILITIES FUND % Change 2022-23 Year to Date 2022-23 Q2 from 2021-22 Current Actuals Revised Requested Current Description Actuals Budget 12-31-2022 Budget Adjustments Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 1,475,674 1,651,435 580,711 1,651,435 0 0.0 % Use of Money and Property Investment Interest (5,485) 960 1,357 0 (960) -100.0 % Total Revenues and Other Sources 1,470,189 1,652,395 582,068 1,651,435 (960) -0.1 % Expenditures by Category Salaries & Benefits 431,172 598,277 243,220 598,277 0 0.0 % Operations & Maintenance 1,049,988 1,058,708 533,191 1,058,708 0 0.0 % Total Expenditures and Other Financing Uses 1,481,160 1,656,985 776,411 1,656,985 0 0.0 % Excess of Revenues Over (Under) Expenditures (10,971) (4,590) (194,343) (5,550) (960) 20.9 % Fund Balance, Beginning of Year 588,587 577,616 577,616 Fund Balance, End of Year 577,616 573,026 572,066 Fund Description The Facilities Fund was established to account for the cost of the Civic Center, Former City Hall Facility, City Maintenance Facility, Field Operations Center, and Civic Center Parking Structure operations and maintenance. Fund Balance is a combination of both spendable and non spendable assets. Departments are charged based on square footage allotted as well as full time staff equivalents assigned. 1 1 T FUND: 350 - FACILITY REPLACEMENT FUND City of Temecula Fiscal Year 2022-23 Quarterly Budget Report Description 2021-22 Actuals 2022-23 Current Budget Year to Date Actuals 12-31-2022 2022-23 Q2 Revised Budget Requested Adjustments % Change from Current Budget Revenues by Source Licenses, Permits and Service Charges Charges For Services 64,643 76,009 36,816 76,009 0 0.0 % Use of Money and Property Investment Interest (2,185) 3,400 233 0 (3,400) -100.0 % Operating Transfers In Contribution From Measure S 660,000 910,000 455,000 910,000 0 0.0 % Total Revenues and Other Sources 722,458 989,409 492,049 986,009 (3,400) -0.3 % Expenditures by Category Operations & Maintenance 105,338 0 0 0 0 0.0 % Capital Outlay 4,138 10,191 10,224 10,191 0 0.0 % Transfers 249,644 750,000 0 750,000 0 0.0 % Total Expenditures and Other Financing Uses 359,120 760,191 10,224 760,191 0 0.0 % Excess of Revenues Over (Under) Expenditures 363,338 229,218 481,825 225,818 (3,400) -1.5 % Fund Balance, Beginning of Year 382,769 746,107 746,107 Fund Balance, End of Year 746,107 975,325 971,925 Fund Description The Facility Replacement Fund was established to accumulate resources for the future replacement of equipment, systems and fixtures within City -owned facilities.