| | Published February 16th, 2022
| Town's Fiscal Year 2021-22 Mid-Year Budget Report looks good
| | | By Vera Kochan | | |
The Mid-Year Budget Report provides staff the opportunity to assess the town's revenues and expenditures for the first half of the 2021-22 Fiscal Year. Its purpose is to identify major variances between actual transactions and estimated budget amounts.
Administrative Services Director Annie To's Feb. 9 town council presentation outlined any significant increases or decreases to the Operating and Capital Improvement Budget.
Fund 101 - General Fund saw an increase to the beginning fund balance by $138,032. There was an increase to the General Fund Revenue (property taxes and assessments) of $150,000 due to projected increases in real estate valuation. Parks and Recreation saw a small revenue decrease of $28,630 due to the lease agreement with Wedgewood Weddings for event operations at the Hacienda de las Flores. A Transfer In of $40,000 from the American Rescue Plan Act (Fund 102 -- ARPA) was the result of a one-time payment to cover staff vacation and administrative leave payouts due to the pandemic.
In addition, the General Fund saw an increase in expenditures by $60,000 in the Moraga Police Department with regards to salaries and overtime. Due to retirement vacancies, the death of an officer and two injured officers, a number of shifts had to be filled with remaining officers in an overtime capacity. Also, MPD's wholesale gasoline contract with the Acalanes Union High School District was terminated resulting in gas being purchased at retail prices locally.
The remaining General Fund expenditure adjustment increase was $1,100 in Parks and Rec due to the hiring of a security guard to monitor noise limits during the 2021 rental season at the Hacienda (that contract of $11,000 offset the $9,900 decrease in costs).
Other funds adjustments saw a Fund 100 revenue increase of $2.25 million in One-Time Developer Fees (Palos Colorados Fund); Fund 102 - ARPA also saw a revenue increase of $453,406 of which $200,000 was transferred out for storm drain repairs; Fund 205 - Gas Tax had an increase in expenditures of $331,068 which was transferred out to Fund 700 for pavement resurfacing; Fund 213 - Measure K revenue increased $300,000 with an overall $600,000 fund transfer towards pavement reconstruction; Fund 702 - 2013 Certificates of Participation expenditures increased $2,800; and Fund 720 - Public Safety Development Impact Fee expenditure increased $126,000 (this entails a community surveillance program, radio system encryption, vehicle/equipment purchase, and vehicle fueling system for MPD and Moraga-Orinda Fire District).
According to To's staff report, "The Town's General Fund Proposed Budget Adjustments for FY 2021/22 would result in an increase to the projected year-end fund balance from $4,902,047 to $5,215,773 or $313,726 which represents a $138,032 adjustment to the Beginning Balance based on the FY 2020/21 Audited Comprehensive Financial Report and $175,694 projected operating surplus. Overall, the General Fund Reserve is projected to increase from 50.0% to 52.0%." |
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Lamorinda Weekly, Moraga CA