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2006 02 18 CCeaf 4 4 OAM City Council Agendas are Available on the City's Web Page @ www.la-quinta.org CITY COUNCIL AGENDA LA QUINTA SENIOR CENTER Multi -Purpose Room 78-450 Avenida La Fonda La Quinta, California 92253 SPECIAL MEETING Saturday, February 18, 2006 - 9:00 A.M. Beginning Resolution No. 2006-014 Ordinance No. 427 CALL TO ORDER Roll Call: Council Members: Henderson, Osborne, Sniff, and Mayor Adolph PLEDGE OF ALLEGIANCE PUBLIC COMMENT At this time members of the public may address the City Council on items that appear within the Consent Calendar or matters that are not listed on the agenda. Please complete a "request to speak" form and limit your comments to three minutes. When you are called to speak, please come forward and state your name for the record. Please watch the timing device on the podium. For all Business Session matters or Public Hearings on the agenda, a completed "request to speak" form should be filed with the City Clerk prior to the City Council beginning consideration of that item. City Council Agenda 1 February 18, 2006 SPECIAL Meeting CONFIRMATION OF AGENDA STUDY SESSION 1. DISCUSSION OF CITY COUNCIL GOALS AND THE FISCAL YEAR 2005-2006 ANNUAL FINANCIAL MANAGEMENT REVIEW. ADJOURNMENT Adjourn to a regularly scheduled meeting of the City Council to be held on February 21, 2006, commencing with closed session at 2:00 p.m. and open session at 3:00 p.m. in the City Council Chambers, 78-495 Calle Tampico, La Quinta, CA 92253. DECLARATION OF POSTING I, Deborah Powell, Acting City Clerk of the City of La Quinta, do hereby declare that the foregoing agenda for the La Quinta City Council Special meeting of February 18, 2006, was posted on the outside entry to the Council Chamber at 78-495 Calle Tampico and on the bulletin boards at 51-321 Avenida Bermudas and 78-630 Highway 1 1 1, on Tuesday, February 14, 2006. DATED: February 14, 2006 yv_,,K_�PW"--Q, DEBORAH POWELL, Acting City Clerk City of La Quinta, California Public Notices The La Quinta Senior Center is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City Clerk's Office at 777-7025, twenty-four (24) hours in advance of the meeting and accommodations will be made. If special electronic equipment is needed to make presentations to the City Council, arrangement should be made in advance by contacting the City Clerk's Office at 777-7025. A one (1) week notice is required. If background material is to be presented to the City Council during a City Council meeting, please be advised that eight (8) copies of all documents, exhibits, etc., must be supplied to the City Clerk for distribution. It is requested that this take place prior to the beginning of the meeting. City Council Agenda 2 February 18, 2006 SPECIAL Meeting T 0 jht 4 4 a" COUNCIL/RDA MEETING DATE: February 18, 2006 ITEM TITLE: Discussion of City Council Goals and the Fiscal Year 2005-2006 Annual Financial Management Review RECOMMENDATION: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Discuss City Council Goals and the Annual Financial Management Review for Fiscal Year 2005-2006. FISCAL IMPLICATIONS: No direct fiscal implications will result from this action. Staff proposes to develop programs to implement selected goals and will identify cost projections as part of the economic development program, capital improvement program, and budget process. HARTER CITY IMPLICATIONS: None. BACKGROUND AND OVERVIEW: The Fiscal Year 2005/2006 Annual Financial Management Review is provided as Attachment 1 . This document is the first component of the strategic planning process and presents the financial achievements for the past fiscal year, five-year cash flow projections for operating and capital improvement funds, and financial management strategies and recommendations for the coming fiscal year. The additional components of the strategic planning process include the Economic Development Plan, the Capital Improvement Program, the Annual'Budget and the Five - Year Resource Allocation Plan. An explanation of each of these documents is provided below. Economic Development Plan This plan outlines a vision and direction for the City's economic development activities. It presents the mission statement, implementation policies, projected resources, and business plan the City and the La Quinta Redevelopment Agency will follow to sustain a comprehensive economic development effort. It is goal -oriented in that the economic development efforts specified in the plan are key to generating the financial resources necessary to support both the Resource Allocation Plan and the Capital Improvement Plan. Capital Improvement Plan This plan is primarily a planning document that. establishes five-year funding priorities for capital improvements. This plan also includes a listing of all the other desired capital improvements that cannot, or need not, be funded within the five-year horizon. Five -Year Resource Allocation Plan This plan is primarily a planning document that provides a five-year horizon for forecasted operational needs of each department, as well as the City as a whole. This plan is a cyclical review of all operations expenditures to reassess funding mechanisms behind personnel responsibilities and the various service levels of all programs. Annual Budget This document is the annual implementation tool for the overall planning process. The budget will encompass each element of the strategic planning effort and will implement: the goals of the Economic Development Plan; the resource and demand allocation outlined in the Five -Year Resource Allocation Plan; and the capital improvement investment for a given year. As in years past, to begin this year's strategic planning process, staff has provided last year's City Council Goals. This document is included as Attachment 2 for reference and discussion purposes. The chart has been updated to include the current status of each goal. This year the City Council has directed staff to schedule a Workshop to discuss the City Council Goals and the Annual Financial Management Review for Fiscal Year 2005- 2006. To that end, staff has arranged the workshop to be held at the La Quinta Senior Center. This meeting, in addition to normal posting of a City Council agenda, has been advertised in the Gem, the City's Quarterly Newsletter, and via press releases. Additionally, staff has prepared a PowerPoint presentation to review the Annual Financial Management Review with the City Council and public. A copy of the PowerPoint is provided as Attachment 3. As the City Council is aware, this discussion is intended to provide the City Council an opportunity to identify priority goals for Fiscal Year 2006-2007 as a precursor to this year's budget process. Identified goals will be integrated into this year's Economic Development Plan, Capital Improvement Plan, and/or the Annual Budget. Additionally, this discussion provides for City Council feedback/direction on the Financial Management Review as the City outlines its long-term goals and direction. In order to assist in the facilitation of the meeting, an outline for today's meeting is provided as Attachment 4. Respectfully submitted, Thomas P. Genovese, City Manager Attachments: 1 . Annual Financial Management Review for Fiscal Year 2005-06 2. City Council Goals for Fiscal Year 2005-06 3. PowerPoint Presentation 4. Meeting Outline ATTACHMENT 1 City of La Quinta and La Quinta Redevelopment Agency 2CK6m2W*Pmnua1 F0 0 MOUSAN inancol Management Revievv February 18,2006 Financial Forecast Presented By: Financial Management Team Thomas P. Genovese, City Manager John Falconer, Finance Director Douglas Evans, Community Development Director Tim Jonasson, Public Works Director Tom Hartung, Building & Safety Director Debbie Powell, Management Analyst Terry Deeringer, Management Analyst Nick Nickerson, NAI Consulting, Inc. Frank J. Spevacek, Rosenow Spevacek Group, Inc. Andrea Castro, Rosenow Spevacek Group, Inc. For the past twelve years the City of La Quinta and the La Quinta Redevelopment Agency have implemented a strategic planning process that: • Reviews current year, and projected five-year, revenues and expenditures for every operations and capital improvement fund of the City and the Agency • Establishes City Council priorities related to both City and Agency expenditures • Appropriates revenue for operating programs and capital improvement projects for the coming fiscal year. This process entails the following components: • Annual Financial Management Review • 5-Year Capital Improvement Program • Annual Economic Development Plan • Five -Year Resource Allocation Plan • Annual City/Agency Budget This document presents the first component of the strategic planning process, the 2005-2006 Annual Financial Management Review. It presents the City's and Agency's financial achievements for the past fiscal year, five-year cash flow projections for the critical operating and capital improvement funds, and financial management strategies and recommendations regarding revenue enhancements and program/project expenditures for the coming fiscal year. Financial Achievements During the past 12 months, City staff has implemented the City Council directives generated from last year's Annual Financial Management Review. As a result, the City was able to: increase General Fund Operating and Emergency Reserves, implement new infrastructure and public facilities improvement projects, construct the Phase 1 golf course at SilverRock Resort, invest in economic development initiatives that will generate new sales and transient occupancy tax revenues, and overall, improve its financial footing. Specific achievements include: • Implementing prudent revenue forecasts and cost containment measures that generated a General Fund operating surplus of $9.2 million for Fiscal Year 2004-2005. This was primarily revenue driven, with greater than forecasted license and permit fee revenue, and sales and transient occupancy tax revenue. • Increasing the General Fund Emergency Reserves while maintaining the General Fund Cash Flow Reserves. The Fiscal Year 2005-2006 Emergency Reserves are estimated to stand at $11.6 million or 35.0% of the Operating Budget plus $4,000,000, and the Cash Flow Reserves will be at $2.7 million or 8.25 % of the General Fund Operating Budget. The latter is necessary to fund General Fund expenditures during early months of each new fiscal year prior to the receipt of significant property and sales tax revenue. In addition, as of June 30, 2005, the General Fund contained an additional $10.7 CITY OF LA QUINTA FEBRUARY 189 2006 2005.2006 ANNUAL FINANCIAL REVIEW C�A� million in fund balances that were set -aside for operations, projects and transfers. As of June 30, 2005, General Fund reserves also included a $1,000,000 reserve for educational purposes, $590,000 for capital improvements, $467,000 for economic development, $1,000,000 for carryover encumbrances, and $12,000 reserved for the library. • Continuing the City's capacity to implement a capital improvement program with a scheduled investment of $24.9 million during Fiscal Year 2005-2006 and a scheduled investment of $11,752,186 during Fiscal Year 2006-2007. The Capital Improvement Program is scheduled to be reviewed by the City Council on March 21, 2006. • Notable projects programmed within the 2005-2006 Capital Improvement Program include an overall investment of $23,000,399 towards the Phase II Jefferson Street Improvements, of which the City will contribute $3,269,619, and the City of Indio and CVAG will contribute the combined amount of $19,730,780. In addition, $643,610 is programmed toward the Jefferson Street Median Island Landscape improvements from Highway I I I to Indio Boulevard. The City was successful in obtaining Federal funding assistance in the amount of $445,190. This new funding will proportionately replace part of the local funding programmed by the cities of La Quinta and Indio. • Construction was completed and refinements were made to the Arnold Palmer Classic Course at SilverRock Resort which opened in March 2005. The course was voted by Golf magazine as one of the top ten new public courses in the country. Both golf rounds and revenues increased in the fall quarter as all facilities, including the full kitchen and bar, came on line. • The City Council adopted the Development Impact Fee Study Update in June 2005. In keeping with the recommendations presented within the Fee Study, this document is scheduled to be reviewed and updated annually. The next update will be presented for the Council's consideration in March or April 2006. • Expansion of the City's retail base has included the approval of over 463,335 square feet of new retail building area. An additional 234,000 square feet of new retail building area has been proposed. The City's annual goal of increasing retail business to reduce reliance on one-time revenues has been a key objective. Critical mass projects include approval of Sam's Club, Costco/Komar Center, Best Buy, Office Max, Drexel Heritage, Trader Joe's and Petco. Building permits have been issued for 226,068 square feet of new retail/commercial uses during 2005. • Increasing the City's employment base will be boosted by expanding medical and non -medical office uses. During 2005, 235,600 square feet of medical and non -medical office use has been approved along the Washington Street corridor. Both Eisenhower Medical Center and JFK have proposed establishing medical office facilities in La Quinta. • Development activity has continued in the Village with construction underway on a 58,500 square foot expansion of Old Town, opening of the City's upgraded 106 space parking lot, and a number of other proposed and approved projects. During 2005 the City has approved or received development applications for an additional 60,000 square feet of commercial/office use. Additionally, several mixed use and/or residential projects have been submitted for review. In anticipation of additional growth, the City Council has authorized the preparation of a Village Parking Development Strategy. CITY OF LA QUINTA 2005-2006 ANNUAL FINANCIAL REVIEW(' FEBRUARY 18, 2006 Findings • Expansion of the City's lodging industry has proceeded with the construction of the Homewood Suites and adjacent resort casitas, development of additional resort casitas projects and the Embassy Suites hotel.. The 275 hotel units and approximately 1,128 resort casitas units will substantially increase TOT revenues. • Capitalizing on the continued increases in assessed values in both Redevelopment Project Areas, with Project Area No. 1 experiencing a 16.4% increase and Project Area No. 2 experiencing a 19.6% increase between Fiscal Years 2004-2005 and 2005-2006. • These successes afforded continued opportunities to invest in capital projects and facilities, and in assets that generate greater social and financial returns for La Quinta's residents. However, the continuing State budget crisis presents challenges that both the City and Redevelopment Agency must contend with during the coming fiscal year. During Fiscal Years 2002-2003 through 2005-2006, $8,000,000 of Agency tax increment revenue has been shifted to the State via the Education Revenue Allocation Fund (ERAF). This money would have otherwise been available for eligible capital projects within the City of La Quinta. While the Agency is not scheduled to pay another $3,000,000 during Fiscal Year 2006-2007, and years thereafter, the cash flow projections include such annual payments. The elimination of the Agency's ERAF shift is a major initiative of the League of California Cities for 2006. The recommendations contained later in this document outline strategies that staff believe will better insulate both entities from the yet unknown consequences of the State's financial difficulties. Upon evaluating the cash flow projections, the Financial Management Team formed the following conclusions: • The State budget discussions have not centered on any budget shifts from municipalities to balance the State budget as has been the case the last two fiscal years when $662,000 was shifted from the City General Fund to the State. While the Agency's annual ERAF shift of $3,000,000 is set to expire in June 2006, State officials have discussed making these payments permanent, with annual payments increasing in concert with annual increases in property tax values. Therefore, the cash flow projections continue to allocate $3,000,000 in Agency tax increment revenue to annual ERAF shifts during Fiscal Year 2006- 2007 and thereafter. If this does not occur, this one time revenue could be budgeted for one-time projects in the subsequent fiscal year. • Police service costs are continuing to increase due to escalating costs, and increasing service demands due to an expanding City population. These cost increases will be reflected in the Fiscal Year 2006-2007 operating budget proposal. Although shortfalls in the fire operating budget are currently being funded through the Fire Tax Credit, projections contained in the Resource Allocation Plan (RAP) indicate that by Fiscal Year 2009-10 the Credit will be depleted and the General Fund will be required to subsidize fire operations. • During Fiscal Year 2006-2007 an estimated $61,031,977 in capital improvement projects will be will be carried over. Carry over projects include the expansion of the Civic Center. The existing facility is over capacity as it is no longer capable of meeting the needs of the community. In order to maintain service levels and meet developer response times increases in staff are expected in the Community Development, Public Works and Building and Safety Departments. Expansion of City Hall is therefore necessary in CITY OF LA QUINTA FEBRUARY 189 2006 2005-2006 ANNUAL FINANCIAL REVIEW order to accommodate additional staff for these departments. As part of this year's DIF update, staff proposes to increase the cost of expanding City Hall by updating construction costs in order for new development to better share in their burden on city services. • In addition to expanding the Civic Center Campus, the corporate yard master plan will be undertaken by Public Works to better house the maintenance staff and equipment necessary to maintain a growing city. The current maintenance trailers have exceeded their life expectancy and permanent facilities are necessary in order to meet state requirements for street sweeping handling and materials stockpiling. Staff has approached the property owner, The Fritz Burns Foundation, to expand the use of the site to include permanent maintenance facilities, to which they have agreed. A master plan for the site will allow for the planning and phasing of those improvements. • The Agency has the capacity to issue $37,000,000 in non -housing bonds ($32,000,000 for Project No. 1 and $5,000,000 for Project No. 2) and $46,000,000 in housing fund bonds. This capacity was calculated after deducting all existing debt service payments and reserving $2,020,000 in non -housing tax increment revenue and $2,000,000 in housing fund revenue for operations expenses. • The Agency's total outstanding bond debt is $240,515,000, $150,515,000 of non -housing bonds and $90,000,000 in housing bonds. This bond debt service (principal and interest) is currently $14,450,122, with $3,335,000 of total outstanding bond principal to be retired during Fiscal Year 2005-2006. Development -driven revenues (license fee and permit income) continue to underwrite 14% of the General Fund operating costs. While the City's sales and transient occupancy tax revenue base continues to grow, the City's economic development efforts to attract additional sales and transient occupancy tax generators must be maintained, if not increased. Investment in amenities and projects that secure additional resort, hospitality and retail uses must continue in order to compete with adjoining jurisdictions for market share, and to attract users that capitalize on La Quinta's resort and retail image. • The City continues to rely on its two Redevelopment Projects to underwrite a variety of capital and public facility improvement projects, to invest in General Fund revenue generating economic development initiatives, and to supplement General Fund operating revenues by funding staff and related operational costs through Fiscal Year 2009-2010. After this date, Agency funding of staff and related operational costs will decrease as less Agency funded capital and public facility projects are initiated. However, the Agency will commence interest payments on outstanding General Fund loans during the coming fiscal years totaling $2,020,000. The following assumptions were made in projecting costs from Fiscal Year 2006-2007 through Fiscal Year 2009/2010: • RSG has updated the General Fund Build Out Analysis (attached to this Report), which identifies General Fund operating revenues and expenses when all of the remaining vacant land within the City is developed. Three land area scenarios were reviewed: Scenario 1, the existing City boundaries; Scenario 2, the existing boundaries plus Planning Area 1; and Scenario 3, the existing boundaries plus Planning Areas 1 and 2. For Scenario 1, build out would occur in 20 years, Scenario 2 in 35 years, and Scenario 3 in 45 years. Unfortunately, the General Fund is projected to incur deficit conditions under all three Scenarios if current expenditure patterns continue. Scenario 1 incurs a $30,067,899 deficit, Scenario 2 a CITY OF LA QUINTA 2005-2006 ANNUAL FINANCIAL REVIEW FEBRUARY 189 2006 �, 1 $88,898,760 deficit, and Scenario 3 a $210,557,238 deficit. Public Safety expenditures are the primary factors that generate the deficit conditions. Recommendations The Financial Management Team recommends that the City continue to focus on measures that address the projected decline of available fund balance in the General Fund. To accomplish this, efforts must continue to expand the City's sales and transient occupancy tax revenue base by facilitating commercial development both in the Highway 11I Commercial Corridor and the Village, and resort/hospitality development in the Village and at SilverRock Resort. Further, the City must carefully consider all future annexation requests prior to preparing a strategic plan that evaluates how the City may fund associated municipal service costs. Specific strategy recommendations include the following: • Conclude SilverRock Disposition and Development Agreement. Hospitality venues at SilverRock Resort have great potential to generate new transient occupancy and sales tax revenue. In addition, resort patrons would generate additional demand at the Arnold Palmer Classic Course. Staff recommends that every effort be made to conclude a disposition and development agreement with DDC Desert Development (DDC) that facilitates resort and hospitality development at SilverRock Resort. DDC desires to start developing the first phase resort product (a boutique hotel) by the fall of 2006. To facilitate this schedule, a disposition and development agreement must be in place by the end of the first quarter of this year. • Continue to Generate Cost Savings. Carefully consider undertaking new operations costs that must be funded through the General Fund. Given the uncertainty of the State budget solutions, the City should increase efforts to generate greater cost savings in all operations while thoroughly evaluating the merits of expanding or starting new projects and programs that increase operations costs. • Affordable Housing Land Acquisition. Initiate a new round of property purchase activities for new affordable housing construction. This would further diversify the community's socio-economic profile by creating housing opportunities that cater to permanent residents, of a variety of income levels, who live and support La Quinta businesses on a year-round basis. Many of the new residential developments underway within the La Quinta planning areas are targeted towards higher income households which often purchase these dwellings as second homes. The Redevelopment Agency's affordable housing efforts have facilitated development of dwellings that are almost exclusively occupied by full-time residents who either live and work in the Coachella Valley, or have elected to retire in the Valley. Per the attached cash flow analysis, the Agency is projected to receive a significant amount of housing fund revenue during the next five years. Given that a majority of the property in the Project Areas is developed, or approved for development, new affordable housing initiatives should focus on facilitating mixed -use development opportunities in commercial districts, and new multi -family development in the areas that are within, or may be annexed to, the City. • Prepare Annexation Area Strategic Plan. Future annexation requests for Planning Areas I and 2 are likely to occur subsequent to a final LAFCO decision regarding Sphere of Influence (SOI). At its January 26, 2006 meeting, LAFCO directed its staff to finalize documents which would add approximately 15.5 square miles to the City's SOI. Based upon current General Plan land uses preliminary financial analysis indicates that any annexation will result in a net fiscal loss to the City. Prior to annexation, the City should prepare a strategic plan that evaluates proposed land uses, public CITY OF LA QUINTA 2005-2006 ANNUAL FINANCIAL REVIEW w FEBRUARY 189 2006 infrastructure needs (especially roadway capital costs and pavement management), existing substandard housing conditions, code enforcement, animal control, parks and recreation, and public safety. Depending upon the size of future annexations, the City will need to add staff resources to effectively manage new development applications, plan checks, infrastructure, roadway maintenance, and code enforcement. Additionally, the City will need to work with Police and Fire Departments to evaluate short- and long- term public safety staffing levels. Currently, Riverside County Sheriffs Department has a minimum (County -base level) level of staffing in this area. During initial annexation periods, the City will receive virtually no revenue to offset costs for all municipal services. Future revenue will be severely limited due to the Riverside County Desert Communities Redevelopment Project Area (County RDA). The County RDA and associated service agencies will receive virtually all property tax until 2037 when the County RDA expires. It will be imperative for protection of the City's General Fund that any future annexation be revenue neutral or revenue positive. Revenue options for residential land use are severely limited. Studies are currently underway to evaluate revenue generating opportunities. Residential revenue options under evaluation include a one-time pre -annexation development fee and community facilities districts. Additionally, the City will need to study commercial/retail/lodging land use opportunities if annexations in Planning Areas 1 and 2 are to be revenue neutral or positive. Without new revenue sources, expanding City services to these potential annexations will negatively affect General Fund expenditures and City reserves. As noted above, City staff is preparing an overall SOI Work Program which will feature a SOI Strategic Planning Process. Key elements of the process will include community workshops, land use standards, land use planning, community facilities, infrastructure, parks, fiscal analysis, and an overall coordinated annexation program that requires fiscally sound annexations. • Facilitate Auto Dealer Expansion. Opportunities exist to expand the La Quinta Auto Center by either expanding existing dealerships or adding dealerships. The City will continue efforts to work with existing auto dealerships to expand and upgrade existing facilities and to bring in new dealerships. This may require City assistance in working with land owners, dealerships, and auto makers to ensure the La Quinta Auto Center expands its presence in the region. • Expand City Revenue Base. Continue efforts to expand the City's revenue base by evaluating the need and support for increasing existing, or enacting new, user fees to fund on -going public services. The City has limits to the amount of retail and resort development it can physically accommodate that will generate non -user fee revenue. Residents not only demand, but deserve, the highest public service levels the City can financially support. The City's public safety standards, and its park, recreation, and landscaped open space area standards, are among the highest in California. Maintaining these service levels and standards will demand increasing General Fund expenditures as community expectations and costs increase. While efforts to capture a greater share of sales and transient occupancy tax generators will continue, there is a limit to the number of retail and resort users the community can physically handle and that the market area can support. Reaching these capacities will necessitate reviewing alternative revenue enhancements or service level cuts. To avoid service cuts or reduce funding from the General Fund, the City may want to explore a City-wide Park Assessment District to provide funding for City park facilities. CITY OF LA QUINTA FEBRUARY 18, 2006 2005-2006 ANNUAL FINANCIAL REVIEW t."JL3 RDA General Fund Loan Principal and Interest Payments. As of June 30, 2005 the General Fund had outstanding loans totaling $31.5 million in principal and interest to the RDA. Staff is proposing restructuring the outstanding loans as of April 1, 2006 to result in a new loan amount of $22 million. This restructuring will result in the General Fund adding $12.1 million to unreserved fund balance which would have previously been reserved and unavailable. For FY 2006/07 and thereafter, the interest generated from the $22 million loans which are at an interest rate of between 7% - 10% will result in the General Fund receiving $2,020,000 annually. The reduction in principal in FY 05/06 will also result in a future reduction of interest earnings to the General Fund. Golf Cart Plan. City staff is preparing a detailed golf cart route plan. This program will include a golf cart ordinance, a flyer outlining golf cart requirements, operator manual, map and other informational material. The Capital Improvement Program will include lane striping for on -street paths, new golf cart paths in parkways, signs, parking and charging station(s). Phase One of the Golf Cart Plan will be focused on connecting the La Quinta Resort, SilverRock Resort and the Village. Plan approval is expected in Fiscal Year 2005-2006 and implementation in Fiscal Year 2006-2007. CITY OF LA QUINTA FEBRUARY 185 2006 2005-2006 ANNUAL FINANCIAL REVIEW i� 14 Findings The following Fiscal Year 2005-2006 five-year cash flow tables present current and projected City and Redevelopment Agency resources. They highlight the original and mid -year budget adjustments for Fiscal Year 2005-2006, projected revenues and expenditures through the second quarter of fiscal year 2005-2006, and projected revenues and expenditures through Fiscal Year 2009-2010. The latter projections are based upon the City's Resource Allocation Plan. It is important to note that the City traditionally relies upon conservative revenue and expenditure forecasts; the cash flow analysis likewise is based upon conservative assumptions for the five-year period. With the exception of the General Fund and the Project Area I Capital Projects Fund, all other City and Agency funds have positive available fund balances, meaning that these funds remain in the black after payment of planned expenditures through Fiscal Year 2009-2010. For the General Fund, Fiscal Year 2005- 2006 will see a reduction of available fund balance due to the loaning of funds for housing and economic purposes which will be partially offset by the repayment of RDA advances. The General Fund Fiscal Year 2006-2007 available fund balance will return to a positive balance with the repayment of the housing advance in Fiscal Year 2006-2007. Beginning Fiscal Year 2006-2007 through Fiscal Year 2009-2010, the General Fund is projected to incur a net loss of between $714,581 and $2,404,589 based upon the Resource Allocation Plan (RAP) assumptions. With these losses, the General Fund available balance will become negative in Fiscal Year 2008-2009 and beyond. For Project Area 1 Capital Projects Fund, it will require either a reduction of its reimbursement to the General Fund, or additional bond proceeds, to have a positive fund balance. In recent years, projected General Fund deficits have been averted because development has exceeded expectations. The following chart details the General Fund Cash Flow projections through Fiscal Year 2009-2010. An important trend to note is the leveling out of the restricted reserves (less liquid) since the RDA interest advances will be paid off annually, and the decrease in the unrestricted reserves (more liquid). The City Council and the Agency will want to continue to enhance both sales and transient occupancy tax generators, as well as review alternative revenue enhancements or service level cuts. 5-year Analysis of General Fund Balances Net Beginning Inflows/Over Restricted Unrestricted Ending Fiscal Year Fund Balance Inflows Outflows (Under) Outflows Reserves Reserves Fund Balance Fy 04/05 - Prior Year 52,818,566 34,212,430 23,116,010 11,096,420 35,539,204 28,375,782 63,914,986 FY 05/06 - Projected 63,914,985 28,487,255 30,355,229 (1,867,974) 51,523,187 10,523,824 62,047,011 FY 06/07 62,047,011 28,878,538 29,593,389 (714,851) 39,272,674 22,059,486 61,332,160 FY 07/08 61,332,160 30,168,897 31,237,211 (1,068,314) 39,021,778 21,242,068 60,263,846 FY 08/09 60,263,846 31,543,659 33,156,281 (1,612,622) 38,771,949 19,879,275 58,651,224 FY 09/10 58,651,224 32,761,206 35,165,795 (2,404,589) 38,521,598 17,725,037 56,246,635 Recommendations Since the first Midyear Financial Management Review was initiated in 1994, the City Council has continually directed staff to leverage the Redevelopment Agency in order to invest in economic development CITY OF LA QUINTA 2005-2006 ANNUAL FINANCIAL REVIEW FEBRUARY 189 2006 �; initiatives that generate revenue for the General Fund, and to fund capital improvements and facilities that address blight within the Redevelopment Project Areas while relieving the General Fund of these funding obligations. This strategy has both increased General Fund operating revenue to support expanding City service levels, and resulted in on -going improvements to the City's infrastructure and public facilities. In order to foster economic growth that enhances General Fund operating revenue, continue to invest in needed capital improvements, and establish reserves to fund potential continued State mandated local revenue shifts to school districts, the Financial Management Team recommends that the City Council consider the following: SilverRock Resort Conclude a disposition and development agreement with DDC Desert Development by April 2006. This would facilitate development of a boutique hotel and the continued planning of the major, feature hotel. As part of this effort, staff will prepare, for City Council review and consideration, an updated financial plan that identifies the remaining anticipated Agency investment required to facilitate resort development, and a funding strategy to underwrite this investment. As part of this task, potential capital costs and operating revenues and expenses would be identified. • Maintain Reserve Funds in the Project No. I Debt Service Fund for Future State Mandated Revenue Shifts Project No. 1 has sufficient reserves in the Debt Service fund to set aside money to cover anticipated State mandated redevelopment agency revenue shifts to K-14 school districts. Staff recommends maintaining up to $3.0 million of these reserves for this purpose. Update Development Impact Fee Study/Schedule- The Development Impact Fee (DIF) Study, adopted by the City Council on June 7, 2005, will be updated during Fiscal Year 2005/2006. This year's update will address the method of fee calculation for the Civic Center Impact Fee, and update and adjust the estimated costs associated with the eligible traffic signals and bridges presented within the Transportation Impact Fee. • Future Annexations Prepare an annexation strategy that identifies land use and funding options that address anticipated General Fund deficits resulting from annexations. CITY OF LA QUINTA - 2005.2006 ANNUAL FINANCIAL REVIEW r 4 FEBRUARY 189 2006 ° 1 G Five -Year Cash Flow Spreadsheets: Highlighted Funds: General Fund Library Gas Tax Federal Assistance (CDBG) Urban Forestry Grant COPS & SLESF Indian Gaming Lighting and Landscape Assessment RCTC Quimby Infrastructure Village Parking South Coast Air Quality CMAQ Development Impact Fee: Transportation Development Impact Fee: Parks and Recreation Development Impact Fee: Civic Center Development Impact Fee: Library Development Development Impact Fee: Community Center Development Impact Fee: Street Facility Development Impact Fee: Park Facility Development Impact Fee: Fire Protection Facility Library County Development Impact Fee Arts in Public Places Capital Projects Assessment District 2000-1 Equipment Replacement Information Technology Park Equipment & Facility Maintenance — New for FY 05/06 SilverRock Operations SilverRock Reserve — New for FY 05/06 Police & Fire Survivor Finance Authority — Debt Service Finance Authority — Capital Projects PA No. 1 -Housing Bond PA No. 1 -Housing PA No. 1 - Debt Service CITY OF LA QUINTA 2005-2006 ANNUAL FINANCIAL REVIEW FEBRUARY 11% 2006 PA No. 1 Capital Projects Project Area No. 1 Capital Project - Taxable PA No. 2 - Housing Bond PA No. 2 — Housing PA No. 2 2004 Low Mod Housing PA No. 2 - Debt Service PA No. 2 -Capital Projects Development Agreements — New for FY 05/06 Other Financial Schedules Reimbursements Transfers 5-year Analysis of General Fund Balances General Fund Balance Detail and Analysis General Fund Build Out Analysis CITY OF LA QUINTA FEBRUARY 18, 2006 2005-2006 ANNUAL FINANCIAL REVIEW 13-Feb-06 8:39:58 AM GENERAL Fund 101 Beginning Fund Balance Reserve for Receivable from RDA 1 - Principal Reserve for Receivable from RDA 1 _ Principal Reserve for Receivable from RDA 1 - Interest Reserve for Receivable from RDA 1 - Interest Reserve for Receivable from RDA 2 - Principal Reserve for Receivable from RDA 2 - Principal Reserve for Receivable from RDA 2 - Interest Reserve for Receivable from RDA 2 - Interest Reserve for Receivable from RDA 2 - Interest Reserve for Housing Reserve for RCTC Reserve for Advance to Civic Center DIF Reserve for Advance to Civic Center DIF Reserve for Advance to SiiverRock Reserve for Civic Center Bonds Reserve for Capital Projects Reserve for Economic development Reserve for Economic development Reserve for Educational purposes Reserve for Deposits Reserve for Prepaids Additional Emergency Reserve Emergency Reserve 35% of Operations Expense Cash Flow Reserve 8.25% of Operations Expense Total Restricted/Reserve BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Total Revenues (Per 5 Yr RAP& 1/05 Analysis) RCTC Grant Subtotal Transfers In Gas Tax COPS & SLESF Urban Forestry RCTC SCAQMD Quimby Federal Assistance Park DIF Indian Gaming Subtotal Transfers In TOTAL INFLOWS Page 1 of 2 - General Fund 1 2005-06 2005-06 Thru 12/31/05 (Original) (Adjusted) 63,914,985 63,914,985 63,914,985 10, 004, 964 10, 004, 964 10, 004, 964 1,995,036 4,334,126 3,242,932 4,334,126 - - (4,334,126) 6,308,514 6,308,514 6,308,514 - 3,691,486 5,763,758 5,280,866 5,763,758 - - (3,691,486) (2,072,272) 0 - 12,000,000 0 1,100,000 1,564,535 0 2,100,000 2,100,000 0 0 5,900,000 689,601 688,406 689,601 102,086 204,173 204,173 0 589,875 589,875 0 467,072 467,072 0 0 4,600,000 0 1,000,000 1,000,000 0 0 0 507,931 507,931 507,931 0 4,000,000 4,000,000 4,000,000 3,644,093 11, 067, 577 11,617,039 858,965 2,608,786 2,738,302 36,214,038 49,171,096 99,878,528 27,700,947 14,743,889 1 (5,963,543) 2005-06 Five Year Cash Flow 2 3 4 5 2006-07 2007-08 2008-09 2009-10 62,047,011 61,332.160 60,263,846 58,651,224 (12,000,000) (513) (896) 171 (351) (250,000) (250,000) (250,000) (250,000) 56,161 590,659 705,055 737,902 13,238 139,227 166.191 173,934 (12,181,114) 478,990 621,417 661,485 74.228,125 60,853,170 59,642,429 57,989,739 11,502,990 27,706,343 27,971,773 28,848,538 30,138,897 31,513,659 32,731,206 11 502,990 27.706.343 27 971 773 28 848 538 30,138,897 31,513,659 32,731,206 0 0 0 0 0 0 0 0 101,400 101,400 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 40,000 0 0 0 0 0 30,000 30,000 30,000 30,000 30,000 30,000 0 0 0 0 0 0 0 37,339 37,339 201,142 332,542 344 082 515,482 30,000 30,000 30,000 30,000 11,540,329 28,038,885 1 28 48 2255 28,878,538 30,168,897 31 543,659 _ sz, /bl,ZUb 13-Feb-06 8:39:58 AM GENERAL Fund 101 OUTFLOWS Expenditures Operations Expense (Per 5 Yr RAP) Subtotal Reimbursements Gas Tax Fund Lighting & Landscape Civic Center Capital Improvement Fund Library Fund Redevelopment Total Reimbursements Transfers Out Capital Improvement Program 1699 Automall Public Improvements 1704 Seasonal Signage 1710 Phase 2 - Jefferson St 1714 Eisenhower/Washington Design 1723 SilverRock resort 1732 Hwy 111 Improvements (Washington - Adams) 1751 Kohl's Department Store Tax 1758 Ave 54-Airport Pavement Rehab Total CIP Transfer to Police and Fire Survivors Fund Transfer to SilverRock Transfer to RCTC Total Transfers TOTAL OUTFLOWS 2006-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 10,411,694 31,621,648 I 33,191,540 I 33,352,001 35,039.596 37.054,040 39,162,332 (291,900) (583,800) (583,800) (604,200) (625,300) (647,200) (669,900) (421,100) (842,200) (842,200) (867,500) (893,500) (920,300) (947,900) (102,076) (204,173) (204,173) (203,660) (202,764) (202,935) (202,584) (162,218) (213,609) (1,031,478) (49,221) (2,500) (2,500) (2,500) (93,927) (843,605) (843,605) (885,785) (930,075) (976,578) (1,025,407) (686,850) 1 373 700 1 373 700 1 373 700 1 373 700 1 373 700 1 373 700 (1,758,071) (4,061,087) (4,878,956) (3,984,066) (4,027,839) (4,123,213) (4,221,991) 122,250 198,454 198,454 198,454 198,454 198,454 198,454 0 0 70,648 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 291,219 0 500,000 11,539 0 81,704 0 0 0 0 18,616 25,000 35,937 25,000 25,000 25,000 25,000 0 0 953,902 443.624 223,454 1,840,645 223,454 223,454 223,454 223,454 0 2,000 2,000 2,000 2,000 2,000 2,000 120,000 200,000 200,000 120,000 202,000 202,000 2,000 2,000 2,000 2,000 Restricted /Reserve Funds -Advances to RDA 26,411,362 24,837,276 22,000,000 22,000,000 22,000,000 22,000,000 0 22,000,000 0 Restricted /Reserve Funds - Advances to Housing 0 0 - 1,100,000 12,000.000 1,564,535 0 1,564,535 0 1,564,535 1,564,535 1,564,535 Restricted /Reserve Funds - Advances to RCTC 0 2,100,000 8,000,000 8,000,000 8,000,000 8,000,000 8,000,000 Restricted /Reserve Funds -Advances to Civic Center DIF 689.601 688,406 689,601 689,601 689,601 689,601 689,601 Restricted /Reserve Funds - Advances to SilverRock 102,086 204,173 204.173 203,660 202,764 202,935 202,584 Restricted /Reserve Funds - Civic Center Bonds 0 589,875 589,875 589,875 589,875 589,875 589,875 Restricted /Reserve Funds - Capital Projects 0 467,072 4,967,072 4,967.072 4,967,072 4,967,072 4,967,072 Restricted /Reserve Funds - Economic Development 0 1,000,000 1,000,000 760,000 500,000 250,000 0 Restricted /Reserve Funds - Educational purposes /Reserve Funds - deposits/prepaids 507,931 507,931 507,931 507,93 507,931 507,931 507,931 Restricted 27,710,980 31,494,733 51 523 187 39,272,674 39,021,778 38,771,949 38,521,598 Subtotal AVAILABLE Fund BALANCE 30,024,029 14,796,759 (7,831,517) 355 341 3,634,746 18.424740 2,087,442 19,154,626 (146,597) 20,025,872 (3,212,671) 20,937,708 Restricted !Reserve Funds -Emergency & CashFlow 8,503,058 38,527,087 17 676 363 32,473,122 18 10,523,824 22,059,486 21,242,068 19,879,275 17,725,037 Subtotal ENDING Fund BALANCE 66,238,067 63,967,855 62,047,011 61,332,160 60,263,846 58,651,224 56,246,635 (1) Years 2 through 5 based on 2005-06 Five Year Resource Allocation Plan & 1/06 Staff Analysis the to the Civic Center DIF may be amended based upon the ultimate design selected (2) The Civic Center design is currently under review and the amount of advance NET INCOME (LOSS) 2,323,082 52,870 (1,867,974) (714,851) (1,068,314) (1,612,622) (2,404,589) WORKING DOCUMENT 1 OF 47 Page 2 of 2 - General Fund 2005-06 Five Year Cash Flow LIBRARY Fund 102 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues County Contributions - Original Friends of Library Contribution County Library Service Interest TOTAL INFLOWS OUTFLOWS Reimbursements General Fund Transfers Out - CIP 1702 Municipal Library Total Transfers - CIP TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 11,981 11,981 11,981 189,803 839,418 1,470,743 2,080,765 11,981 11,981 11,981 189,803 839,418 1,470,743 2,080,765 0 1,527,800 1,527,800 1,527,800 1,527,800 1,527,800 1,527,800 0 (982) 3,000 3,000 7,600 33,600 58,800 83,200 982 1,530,800 1,530,800 1,535,400 1,561,400 1,586,600 1,611,000 93,927 843,605 843,605 885,785 930,075 976,578 1,025,407 51,315 509,373 0 0 0 51,315 0 509,373 0 0 0 0 145,242 843,605 1,352,978 885,785 930,075 976,578 1,025,407 (134,243) 699,176 189,803 839,418 1,470,743 2,080,765 2,666,358 0 0 0 0 0 0 0 (134,243) 699,176 J 189,803 1 839,418 1,470,743 2,080,765 2,666,358 WORKING DOCUMENT 2 OF 47 GAS TAX 201 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues State Subventions (2105-2107.5) Traffic Congestion Relief Interest TOTAL INFLOWS OUTFLOWS Reimbursements General Fund Transfers Out General Fund Transfers Out -CIP 1 TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE (1) Year 2 through 5 assumes 3.5% increase. 1736 Pavement Rehabilitation 1748 Village Roundabout 1747 Traffic Signal Coordination 1752 Ave 54 Pavement Rehab 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 221,473 221,473 221,473 125,358 125,358 125,358 125,358 221,473 221,473 221,473 125,358 125,358 125,358 125,358 346,878 576,200 576,200 599,200 620,300 642,200 664,900 44,817 44,817 0 0 0 0 3,094 7,600 7,600 5,000 5,000 5,000 5,000 394,789 583,800 628,617 604,200 625,300 647,200 669,900 291,900 583,800 583,800 604,200 625,300 647,200 669,900 0 0 0 0 0 0 0 3,072 0 32,685 4,310 3,183 0 8,183 9,723 96,881 17,105 0 140,932 0 0 0 0 309,005 583,800 724,732 604,200 625,300 647,200 669,900 307,257 221,473 125,358 125,358 125,358 125,358 125,358 0 0 0 0 0 0 0 307,257 221,473 125,358 125,358 125,358 125,358 125,358 WORKING DOCUMENT 3 OF 47 2005-06 Five Year Cash Flow FEDERAL ASSISTANCE Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues CDBG Interest TOTAL INFLOWS OUTFLOWS Transfers Out Capital Improvement Program 1714 Washington/Eisenhower Design 1722 Street Light Improvements 1739 Village Parking Lot 1753 Calle Tampico Sidewalk & Drain Improv Total CIP Federal Assistance General Fund Total Transfers TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) (177,312) (177,312) (177,312) (177,312) (42,512) 92,288 227,088 (177,312) (177,312) (177,312) (177,312) (42,512) 92,288 227,088 306,664 205,010 517,307 164,800 164,800 164,800 164,800 0 0 0 306,664 205 010 517,307 164,800 164,800 164,800 164,800 174,427 174,427 132,237 (42,485) 180,355 175,010 175,010 306,664 175,010 487,307 0 0 0 0 0 0 0 0 0 0 0 30,000 30,000 30,000 30,000 30,000 30,000 306,664 205,010 517,307 30,000 30,000 30,000 30,000 306,664 205,010 517,307 30,000 30,000 30,000 30,000 (177,312) (177,312) (177,312) (42,512) 92,288 227,088 361,888 0 0 0 0 0 0 0 177,312 177,312 (177,312) 42,512 92,288 227,088 361,888 The CDBG revenues will be programmed by the City Council subject to availability. WORKING DOCUMENT 4 OF 47 URBAN FOREST GRANT Fund Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Grant Revenues Interest Total Revenues Transfers In General Fund TOTAL INFLOWS OUTFLOWS Expenditures Cont ract/Miscellaneous Transfers Out 1639 Phase 1 Civic Center Campus Total Transfers Out TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 211 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 0 0 0 1,100 1,100 1,100 1,100 0 0 0 1,100 1,100 1,100 1,100 0 1,100 1,100 0 0 0 0 0 0 0 0 0 0 0 0 1,100 1,100 0 0 0 0 0 0 0 0 0 0 0 0 1,100 1,100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,100 1,100 1,100 1,100 1,100 1,100 0 0 0 0 0 0 0 0 1,100 1 1,100 1,100 1,100 1,100 1,100 WORKING DOCUMENT 5 OF 47 COPS & SLESF GRANT 212/213 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues COPS/SLESF Interest TOTAL INFLOWS OUTFLOWS Transfers Out General Fund TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted [Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 588 588 588 (112) (112) (112) (112) 588 588 588 (112) (112) (112) (112) 100,000 100,000 100,000 322 700 700 100.322 100.700 1 100,700 0 _ 0 0 0 0 101,400 101,400 0 0 0 0 101400 101400 0 0 0 0 100,910 0 (112) 0 (112) 0 (112) (112) (112) 0 0 0 (112) 0 102,910 112 (112) 112 112 112 112 WORKING DOCUMENT 6 OF 47 INDIAN GAMING 214 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Grant revenue Interest TOTAL INFLOWS OUTFLOWS Expenditures Program Expenses Transfers Out - General Fund Total Transfers - CIP TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 142,940 142,940 142,940 0 177,250 177,250 177,250 142,940 142,940 142,940 0 177,250 177,250 177,250 177,250 198,942 198,942 177,250 0 0 0 3,465 2,200 2,200 0 180,715 201,142 201,142 177,250 0 0 0 0 0 0 0 0 0 0 37,339 201,142 344 082 0 0 0 0 37,339 201,142 344,082 0 0 0 0 37,339 201,142 344,082 0 0 0 0 286,316 142,940 0 177,250 177,250 177,250 177,250 0 0 0 0 0 0 0 286,316 142,940 0 177,250 177,250 177,250 177,250 WORKING DOCUMENT 7 OF 47 LIGHTING & LANDSCAPE 215 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Assessment Developer Interest TOTAL INFLOWS OUTFLOWS Reimbursements General Fund Transfers Out Capital Improvement Program Total CIP TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 35,408 35,408 35,408 35,408 35,408 35,408 35,408 35,408 35,408 35,408 35,408 35,408 35,408 35,408 1,719 842,200 842,200 867,500 893,500 920,300 947,900 0 0 0 0 0 0 0 0 1,719 842,200 842,200 867,500 893,500 920,300 947,900 421,100 842,200 842,200 867,500 893,500 920,300 947,900 0 0 0 0 0 0 0 0 0 421,100 842,200 842,200 867,500 893,500 920,300 947,900 (383,973) 35,408 35,408 35,408 35,408 35,408 35,408 0 0 0 0 0 0 0 (383,973) 35,408 35,408 35,408 35,408 35,408 35,408 Assumes 3% growth rate in new housing with no increase in the rate. WORKING DOCUMENT 8 OF 47 2005-06 Five Year Cash Flow RCTC Beginning Fund Balance Advance From General Fund BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues RCTC Total Revenues Transfers In General Fund TOTAL INFLOWS OUTFLOWS Expenditures Contract/Miscellaneous Subtotal 216 Capital Improvement Program 1732 Hwy 111 Street Improvements 1743 Hwy 111 Improvements Total CIP Transfers Out General Fund Total Total Transfers TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds - General Fund ENDING Fund BALANCE 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 0 0 0 0 400,000 900,000 1,564,534 0 (1,100,000) (1,564,535) 400,000 500,000 664,534 0 0 1,100,000 1,564,535 1,164,535 1,064,535 900,001 1,564,535 209,290 96,100 2,056,829 400,000 500,000 664,534 0 209,290 96,100 2,056,829 400,000 500,000 664,534 0 0 0 0 0 0 0 0 209,290 96,100 2,056,829 400,000 500,000 664,534 0 0 0 0 0 0 0 0 0 0 0 0 0 0 93,502 311,644 101,068 1,745,185 194,570 0 2,056,829 0 0 0 0 0 0 0 0 0 0 0 194,570 0 2,056,829 0 0 0 0 194,570 0 2,056,829 0 0 0 0 14,720 1,196,100 1,564,535 1,564,535 1,564,535 1,564, 535 1,564, 535 0 (1,100,000) (1,564,535) (1,164,535) (664,535) (1) (1) 14,720 96,100 0 400,000 900,000 1,564,534 1,564,534 WORKING DOCUMENT 9 OF 47 QUIMBY 220 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Quimby fees Interest Transfers In Infrastructure TOTAL INFLOWS OUTFLOWS Transfers Out General Fund - Sports Complex Capital Improvement Program CIP 1694 18 Acre Park Site 1702 Library 1735 Sports Complex/Boys & Girls Club 1750 Fred Wolffe Bear Creek Total CIP TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 1,993,901 1,993,901 1,993,901 6,063,783 6,331,383 6,609,683 6,899,083 1,993,901 1,993,901 1,993,901 6,063,783 6,331,383 6,609,683 6,899,083 3,760,839 800,000 4,605,015 25,000 25,000 25,000 25,000 54,624 5,700 110,000 242,600 253,300 264,400 276,000 0 0 0 0 0 0 0 3,815,462 805,700 4,715,015 267,600 278,300 289,400 301,000 0 40,000 0 0 0 0 8,217 0 216,893 0 0 0 0 152,009 0 152,009 0 230,000 1,074 0 6,231 161,300 0 605,133 0 0 0 0 161,300 0 645,133 0 0 0 0 5,648,063 2,799,601 6,063,783 6,331,383 6,609,683 6,899,083 7,200,083 0 0 0 0 0 0 0 5,648,063 2,799,601 6,063,783 6,331,383 6,609,683 6,899,083 7,200,083 WORKING DOCUMENT 10 OF 47 INFRASTRUCTURE Beginning Fund Balance Total Restricted/Reserve BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Infrastructure Interest Transfers In TOTAL INFLOWS OUTFLOWS Expenditures i Reimbd,rsements Total Reimbursements Transfers Out Capital Improvement Program 1635 Washington St Storm Drain Improv 1726 Eisenhower Dr Bridge 1733 Washington St Medians - Phase 2 1740 2003/04 Traffic Signal Improvements 1742 Simon Dr Traffic Signal 1753 Calle Tampico Sidewalk & Drain Improv Total CIP Transfer to Transportation DIF Transfer to Library DIF Transfer to Fire DIF Total Transfers TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 225 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 868,591 868,591 868,591 167,238 173,938 180,938 188,138 0 0 0 0 0 0 0 868,591 868,591 868,591 167,238 173,938 180,938 188,138 0 0 0 0 0 0 10,224 600 20,000 6,700 7,000 7,200 7,500 0 0 0 0 0 0 0 10,224 600 20,000 6,700 7,000 7,200 7,500 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 397,576 0 0 0 0 0 0 235,404 235,404 0 0 0 0 (9,118) 40,001 39,621 8,751 8,751 0 0 226,286 8,751 721,353 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 226,286 8,751 721,353 0 0 0 0 226,286 8,751 721,353 0 0 0 0 652,529 860,440 167,238 173,938 180,938 188,138 195,638 0 0 0 0 0 0 0 652,529 860,410J 167,238 173,938 180,938 188,138 195,638 (1) Effective 8/16/99 the Infrastructure Program was replaced by a developer fee program. No further revenues are collected after this date. WORKING DOCUMENT 11 OF 47 i= ? 0 2005-06 Five Year Cash Flow VILLAGE PARKING 230 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Interest TOTAL INFLOWS OUTFLOWS Transfers Out - CIP 673 Phase VI - A Village Commercial TOTAL OUTFLOWS i AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 0 0 0 1,893 1,993 2,093 2,193 0 0 0 1,893 1,993 2,093 2,193 0 0 0 100 100 100 100 0 0 0 100 100 100 100 0 0 (1,893) 0 0 0 0 0 0 1,893 0 0 0 0 0 0 1,893 1,993 2,093 2,193 2,293 0 0 0 0 0 0 0 0 0 1 1,893 1,993 2,093 2,193 2,293 WORKING DOCUMENT 12 OF 47 SOUTH COAST AIR QUALITY Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues SCAQMD MSRC Grant Street Sweeping Grant Interest TOTAL INFLOWS OUTFLOWS Expenditures Operations Expenses 235 Transfers Out 1729 Washington St Soil Stabilization Transfers Out - General Fund Total CIP TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE (1) Years 2 through 5 include a 3% escalation factor. 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 149,013 149,013 149,013 164,613 184,913 206,413 229,246 149,013 149,013 149,013 164,613 184,913 206,413 229,246 21,609 39,900 39,900 41,100 42,300 43,600 44,900 0 0 0 0 1,823 2,300 2,300 6,600 7,400 8,300 9,200 23,432 42,200 42,200 47,700 49,700 51,900 54,100 1 4,858 26,600 26,600 27,400 28,200 29,067 29,933 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4,858 26,600 26,600 27,400 28,200 29,067 29,933 167,587 164,613 164,613 184,913 206,413 229,246 253,413 0 0 0 0 0 0 0 167,587 164,613 164,613 184,913 206,413 229,246 253,413 WORKING DOCUMENT 13 OF 47 CMAQ 240 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues CMAQ/ISTEA TOTAL INFLOWS OUTFLOWS Transfers Out Capital Improvement Program 1729 Washington Miles Soil Stabilization Total CIP TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 50,597 0 0 0 0 0 0 50,597 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 50,597 0 0 0 0 0 0 0 0 0 0 0 0 0 50,597 0 0 0 0 0 WORKING DOCUMENT 14 OF 47 TRANSPORTATION Beginning Fund Balance Advances from RDA 1 BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Transportation Interest Total Revenues Transfers In Infrastructure Park TOTAL INFLOWS OUTFLOWS Expenditures Program Expenses Contribution Transfers Out - CIP 1710 Phase 2 - Jefferson St 1723 SilverRock Ranch 1726 Eisenhower Drive Bridge 1743 Hwy 111 Improvements (Adams -Jefferson) 1744 Traffic Signal: Westward Ho & Dune Palms Road 1745 Traffic Signal: Jefferson @ Avenue 53 1733 Washington St Medians - Phase 2 1754 Ave 52 Bridge Improv (Spanning the All American Canal) 1755 Jefferson St Median Island Landscaping ( Hwy 111 to No. City Limit) 1756 Traffic Signal - Ave 47 and Adams 1757 Traffic Signal - Ave 50 and Orchard 1742 Traffic Signal - Washington St @ Simon Dr. Total Transfers CIP Transfer to Park DIF Total Transfers TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow t 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 7,203,437 7,203,437 7,203,437 1.142,319 1,034,219 2,171,819 3,354,919 0 0 0 0 0 0 0 7,203,437 7,203,437 7,203,437 1,142,319 1,034,219 2,171,819 3.354,919 1,581,672 82,033 1,096,200 66,300 1,096,200 165 000 1,096,200 45,700 1,096,200 41,400 1,096,200 86,900 1,096,200 134,200 1,663,705 1,162,500 1,261,200 1,141,900 1.137,600 1,183,100 1,230,400 0 0 0 0 0 0 0 1,663,705 1,162, 500 1,261, 200 1.141,900 1,137,600 1,183,100 1,230,400 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,391,950 3,269,619 3,778,095 117,409 0 117,409 29,985 910,199 10,869 103,200 85,504 615,785 0 1,539,952 1,437 250,000 250,000 1,250,000 984 231,709 231,709 87,500 87,500 43,750 43,750 175,000 175,000 2,168,419 4,057,578 71322.318 1,250,000 0 0 0 0 0 0 0 0 0 2,168,419 4,057,578 7,322,318 1,250,000 0 0 0 2,168,419 4,057,578 71322.318 1,250,000 0 0 0 6,698,723 4,308,359 1,142,319 1,034,219 2,171,819 3,354,919 4,585,319 0 0 0 0 0 0 0 6,698,723 4,308,359 1,142,319 11,034,219 2,171,819 3,354.919 4,585,319 WORKING DOCUMENT 15 OF 47 r F t+ % PARKS & RECREATION 251 Beginning Fund Balance Advances from RDA 1 BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Parks & Recreation I nterest Total Revenues Transfers In Total Transfers TOTAL INFLOWS OUTFLOWS Expenditures Interest on Advance Transfers Out - CIP 1679 Cove Oasis 1694 Phase 1 - Community Park Development Transfers Out - CIP General Fund Transfers Out Total Transfers Out TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) (3,269,023) (3,269,023) (3,269,023) (3,046,381) (2,600,381) (2,154,381) (1,708,381) (3,012,907) 0 (3,012,907) (60,258) (61,463) (62,693) (63,946) (256,116) (3,269,023) (256,116) (2,986,123) (2,538,918) (2,091,688) (1,644,435) 418,670 446,000 446,000 446,000 446,000 446,000 446,000 2,453 0 0 0 0 0 0 421,123 446,000 446,000 446,000 446,000 446,000 446,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 421,123 446,000 446,000 446,000 446,000 446,000 446,000 51,649 0 110,000 0 0 0 0 0 0 1,823 13110 0 111535 0 0 0 0 13,110 0 113,358 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 13,110 0 113,358 0 0 0 0 64 759 0 223 358 0 0 0 0 100,248 (2,823,023) (33,474) 472,794 980,247 1,488,940 1,998,886 (3,012,907).. 0 (3,012,907) (3 073 165 3 134 628 3 197 321 3 261 267 2,912,659 2,823,023 3,046,381 2,600,381 2,154,381 1,708,381 1,262,381 -2912659 WORKING DOCUMENT 16 OF 47 r CIVIC CENTER 252 Beginning Fund Balance Advances from General fund Reserve for Civic Center Bonds Total Restricted/Reserve BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Civic Center Interest Total Revenues Transfers In TOTAL INFLOWS OUTFLOWS Expenditures Program Expenses Reimbursements General Fund Transfers Out 1725 Civic Center Expansion - Design 8 Construction Total Transfers Out TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds - RDA 1 Advance Restricted /Reserve Funds - Debt Service Bonds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 2,162.676 2,162,676 2,162,676 (881,615) (788,675) (691.139) (589,874) 0 (2,100,000) (2,100,000) 0 0 0 204,173 204,173 204,173 513 896 171 351 204,173(1,895,827) 1 895 827 513 896 171 351 1,958,503 4,058,503 4,058,503 (881,102) (787,779) (691,310) (589,523) 273,316 256,000 256,000 256,000 256,000 256,000 256,000 26,663 0 50,000 40,600 44,300 48,200 52,300 299,979 256,000 306,000 296,600 300,300 304,200 308,300 0 0 0 0 0 0 0 299,979 256,000 306,000 296,600 300,300 304,200 308,300 0 0 0 0 0 0 0 102,076 204,173 204,173 203,660 202,764 202,935 202,584 0 0 3,146,118 0 0 0 0 0 0 3.146,118 0 0 0 0 102,076 204,173 3,350 291 203,660 202,764 202 935 202,584 2,156,406 4.110,330 1,014,212 1,107,665 1,206,097 1,307,191 1,413,258 0 0 0 0 0 0 0 204,173 1 895 827 1 895 827 1 896 340 1 897 236 1 897 065 1 897 416 2,360,579 2,214,503 881,615 788,675 691,139 589,874 484,158 WORKING DOCUMENT 17 OF 47 LIBRARY DEVELOPMENT 253 Beginning Fund Balance Advances from RDA BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Library Development Interest Total Revenues Transfers In County Library DIF Transfers In City Library Fund Total transfers in TOTAL INFLOWS OUTFLOWS Expenditures Program Expenses Interest on Advance Transfers Out - CIP 1702 Municipal Library Total Transfers - CIP Transfers Out Infrastructure Fund Total Transfers TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) (2,498,530) (2,498,530) (2,498,530) (2,403,030) (2,225,530) (2,048,030) (1,870,530) (2,353,036) 0 (2,353,036) 0 0 0 0 (145,494) (2,498,530) (145,494) (2,403.030) (2,225,530) (2,048,030) (1,870,530) 184,208 177,500 177,500 177,500 177,500 177,500 177,500 0 0 0 0 0 0 0 184,208 177,500 177,500 177,500 177,500 177,500 177,500 0 0 0 0 0 0 0 184,208 177,500 177,500 177,500 177,500 177,500 177,500 0 0 0 0 0 0 0 38,713 82,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 38,713 0 82.000 0 0 0 0 1 (2,321,030) (49,994) 127,506 305,006 482,506 660,006 (2,353,036) 0 (2,353,036) (2 353,036) (2,353,036) (2 353 036 2,353,036) 2,353,035 2,321,030 (2,403,030) 2,225,530 2,048,030 1,870,530 1,693,030 WORKING DOCUMENT 18 OF 47 2005-06 Five Year Cash Flow COMMUNITY CENTER 254 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Community Center Interest Total Revenues Transfers In TOTAL INFLOWS OUTFLOWS Expenditures Program Expenses Transfers Out Total Transfers Out TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 795,713 795,713 795,713 850,313 921,313 995,213 1,072,013 795,713 795,713 795,713 850,313 921,313 995,213 1,072,013 72,954 37,000 37,000 37,000 37,000 37,000 37,000 9,911 17,600 17,600 34,000 36,900 39,800 42,900 82,865 54,600 54,600 71,000 73,900 76,800 79,900 0 0 0 0 0 0 0 82,865 54,600 54,600 71,000 73,900 76,800 79,900 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 878,578 850,313 850,313 921,313 995,213 1,072,013 1,151,913 0 0 0 0 0 0 0 878,578 850,313 850,313 921,313 995,213 1,072,013 1,151,913 WORKING DOCUMENT 19 OF 47 4 2005-06 Five Year Cash Flow STREET FACILITY 255 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Street Facility Interest Total Revenues Transfers In TOTAL INFLOWS OUTFLOWS Expenditures Program Expenses Transfers Out Total Transfers Out TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 179,342 179,342 179,342 227,342 280,542 335,842 393,342 179,342 179,342 179,342 227,342 280,542 335,842 393,342 28,029 44,100 44,100 44,100 44,100 44,100 44,100 2,289 .3,900 3,900 9,100 11,200 13,400 15,700 30,318 48,000 48,000 53,200 55,300 57,500 59,800 0 0 0 0 0 0 0 30,318 48,000 48,000 53,200 55,300 57,500 59,800 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 209,660 227,342 227,342 280,542 335,842 393,342 453,142 0 0 0 0 0 0 0 209,660 227,342 227,342 280,542 335,842 393,342 453,142 WORKING DOCUMENT 20 OF 47 rI 3 PARK FACILITY 256 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Park Facility Interest Total Revenues TOTAL INFLOWS OUTFLOWS Expenditures Program Expenses Transfers Out Total Transfers Out TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 44,943 44,943 44,943 56,943 70,243 84,043 98,443 44,943 44,943 44,943 56,943 70,243 84,043 98,443 5,237 11,000 11,000 11,000 11,000 11,000 11,000 562 1,000 1,000 2,300 2,800 3,400 3,900 5,799 12,000 12,000 12,000 13,300 13,800 14,400 14,900 5,799 12,000 13,300 13,800 14,400 14,900 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 50,742 56,943 56,943 70,243 84,043 98,443 113,343 0 0 0 0 0 0 0 50,742 56,943 56,943 70,243 84,043 98,443 113,343 WORKING DOCUMENT 21 OF 47 2005-06 Five Year Cash Flow FIRE PROTECTION FACILITY 257 Beginning Fund Balance Advances to Fire DIF BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Fire Tax Interest Total Revenues Transfer In - Infrastructure TOTAL INFLOWS OUTFLOWS Expenditures Interest Advances Transfers Out 720 Fire Station Total Transfers Out TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) (1,122,185) (1,122,185) (1,122,185) (1,084,685) (1,052,585) (1,020,485) (988,385) (1,052,630) (1,500,000) (1,052,630) 0 0 0 0 (69,555) 377,815 (69,555) (1,084,685) (1,052,585) (1,020,485) (988,385) 86,868 74,500 74,500 32,100 32,100 32,100 32,100 0 0 0 0 0 0 0 86,868 74,500 74,500 32,100 32,100 32,100 32,100 0 0 0 0 0 86,868 74,500 74,5 00 32,100 32,100 32,100 32,100 17,312 0 37,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 17,312 0 37,000 0 0 0 0 1 452,315 (32,055) 45 32,145 64,245 96,345 1,052,630 1,500,000 1,052,630 1,052,630 1,052,630 1,052,630 1,052,630 (1,052,629) (1,047,685) (1,084,685) (1,052,585) (1,020,485) (988,385) (956,285 WORKING DOCUMENT 22 OF 47 LIBRARY COUNTY DIF Fund 258 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS OUTFLOWS Revenues County Library DIF Interest TOTAL INFLOWS Expenditures Program Expenses Transfers Out - CIP 1702 Municipal Library Total Transfers - CIP TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 9,881 9,881 9,881 9,881 10,281 10,281 10,281 9,881 9,881 9,881 9,881 10,281 10,281 10,281 0 0 0 0 0 0 0 (0) 0 0 400 0 0 0 400 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9,881 9,881 9,881 10,281 10,281 10,281 10,281 0 0 0 0 0 0 0 9,881 9,881 9,881 10,281 10,281 10,281 10,281 WORKING DOCUMENT 23 OF 47 ARTS IN PUBLIC PLACES 270 Beginning Fund Balance Restricted for various projects Total Restricted/Reserve BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Developer fees Credits Applied Interest TOTAL INFLOWS OUTFLOWS Project Expenditures Civic Center Sculpture Civic Center Air Purchase Civic Center Air Base construction Fritz Burns Park Artwork Hwy 111 Future Artpiece Subtotal Capital Improvement Program Expenditures 1726 Eisenhower Drive Bridge Subtotal TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 895,344 895,344 895,344 500,866 500,866 500,866 500,866 141,792 141,792 0 0 0 0 141,792 0 141,792 0 0 0 0 753,552 895,344 753,552 359,074 359,074 359,074 359,074 157,678 97,500 97,500 97,500 97,500 97,500 97,500 0 0 0 0 0 0 0 11,531 7,600 23,000 14,400 14,400 14,400 14,400 169,209 105,100 120,500 111,900 111,900 111,900 111,900 0 288,058 288,058 111,900 111,900 111,900 111,900 0 0 24,429 0 0 0 0 0 0 24,429 288,058 288,058 111,900 111,900 111,900 111,900 0 0 226,920 0 0 0 0 0 0 226,920 0 0 0 0 24,429 288,058 514,978 111,900 111,900 111,900 111,900 898,332 712,386 359,074 359,074 359,074 359,074 359,074 141,792 0 141,792 141,792 141,792 141,792 141,792 1,040,124 712,386 1 500,866 500,866 500,866 500,866 500,866 WORKING DOCUMENT 24 OF 47 2005-06 Five Year Cash Flow CAPITAL PROJECTS Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues CVAG CVWD County of Riverside STIP City of Indio SB300 Funding RCTC SB821-Bicycle Path Grant State of California APP Contribution Litigation Settlement Developer Agreement Funding Total revenues Transfers In Art in Public Places Gas Tax General Fund Federal Assistance - CDBG Lighting & Landscape Quimby Infrastructure CMAQ-ISTEA Transportation DIF Park DIF Library DIF RDA PA2 Housing Bond Fund RDA PA2 Housing Fund RDA PA1 Housing Fund RDA PA1 Housing Bond Fund Financing Authority RDA CIP 1 RDA CIP 2 AD 2000-1 Village Parking Civic Center DIF Fire Tax Urban Forestry Grant Library County Dif Fund Library Fund RDA CIP 1 - Taxable SCAQMD Equipment Replacement RCTC 2004 Low Mod Project Fund Total Transfers in by Fund TOTAL INFLOWS OUTFLOWS Expenditures CIP Reimbursements General Fund TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) _ 0 0 0 0 0 0 - 0 0 0 0 0 0 4,255,162.04 17,421,965 23,413,062 0 0 0 0 _ 0 848,479 0 0 0 0 _ 0 0 0 0 0 0 19,170.00 0 472,800 0 0 0 0 - 2,720,716 2,847,122 0 0 0 0 - 0 0 0 0 0 0 _ 0 0 0 0 0 0 62,991.00 0 52,887 0 0 0 0 - 0 373,575 0 0 0 0 - 0 0 0 0 0 0 - 0 0 0 0 0 0 - 218,750 306,250 0 0 0 0 4,337,323.04 20,361,431 28,314,175 0 0 0 0 - 0 226,920 0 0 0 0 17,105.00 0 140,932 0 0 0 0 443,624.00 223,454.00 1,840,645 223,454.00 223,454.00 223,454.00 223,454.00 306,664.00 175,010 487,307 0 0 0 0 - 0 0 0 0 0 0 161, 300.00 0 605,133 0 0 0 0 226,286.00 8,751 721,353 0 0 0 0 - 0 0 0 0 0 0 2,168,419.00 4,057,578 7,322,318 1,250,000 0 0 0 13,110.00 0 113,358 0 0 0 0 _ 0 0 0 0 0 0 _ 0 0 0 0 0 0 _ 0 0 0 0 0 0 - 0 0 0 0 0 0 _ 0 0 0 0 0 0 0 0 0 0 0 0 3,644,56100 85,000 23,453,157 85,000 85,000 85,000 85,000 187,244.00 0 485,033 0 0 0 0 - 0 0 0 0 0 0 - 0 (1,893) 0 0 0 0 - 0 3,146,118 0 0 0 0 - 0 0 0 0 0 0 - 0 0 0 0 0 0 - 0 0 0 0 0 0 51,315.00 0 509,373 0 0 0 0 _ 0 (4,594) 0 0 0 0 _ 0 0 0 0 0 0 - 0 657,000 0 0 0 0 194,570.00 0 2,056,829 0 0 0 0 734,308.00 0 3,361,986 0 0 0 0 8,148,506.00 4,549,793 45,120,975 1,558,454 308,454 308,454 308,454 12,485,829.04 24,911,224 73,435,150 1,558,454 308,454 308,454 308,454 12,323,611.04 24,697,615 72,403,672 1,509,233 305,954 305,954 305,954 162,218.00 213,609 1,031,478 49,221 2,500 2,500 2,500 12,485,829.04 24,911,224 73,435,150 1,558,454 308,454 308,454 308,454 - 0 0 0 0 0 0 - 0 0 0 0 0 0 - 0 0 0 0 0 0 WORKING DOCUMENT 25 OF 47 0 4 ASSESSMENT DISTRICT - 2000-1 409 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Bond Proceeds Interest Prepayments Total Revenues Transfers In Federal Assistance TOTAL INFLOWS OUTFLOWS Expenditures Operations Expenses Transfers Out Capital Improvement Program 1673 Phase V-A & VB Village Commercial/Cove Area 1675 Phase V-C Westward Ho 1676 Phase V-D Sagebrush, Bottlebrush,Saquaro Total CIP TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 311,561 311,561 311,561 315,169 315,169 315,169 315,169 311,561 311,561 311,561 315,169 315,169 315,169 315,169 0 0 0 0 0 0 3,608 0 3,608 0 0 3,608 0 1,608 0 0 0 0 0 0 0 0 0 0 0 3,608 0 3,608 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 315,169 0 311,561 0 315,169 0 315,169 0 315,169 0 315,169 0 315,169 0 315,169 311,561 1 315,169 315,169 315,169 315,169 315,169 WORKING DOCUMENT 26 OF 47 1- 45 2005-06 Five Year Cash Flow EQUIPMENT REPLACEMENT 501 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Maintenance Charges Capital Contribution Sale of Equipment Interest Interest Subtotal Transfers In TOTAL INFLOWS OUTFLOWS Expenditures Operations Expenses Capital Expenses Transfers Out Capital Improvement Program 1725 City Hall Expansion TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 fhru 12/31/05 (Original) (Adjusted) 2,683,399 2,683,399 2,683,399 1,963,814 1,942,414 1,895,114 1,840,914 2,683,399 2,683,399 2,683,399 1,963,814 1,942,414 1,895,114 1,840,914 331,312 331,300 331,300 216,225 303,909 320,436 336,458 0 0 0 34,053 365,365 65,700 397,000 0 0 65,700 397,000 0 78,600 294,825 0 77,700 381,609 0 75,800 396,236 0 73,600 410,058 365,365 397,000 397,000 294.825 381,609 396,236 410,058 99,219 0 400,585 0 459,585 0 216,225 100,000 303,909 125,000 320,436 130,000 336,458 130,000 0 0 657,000 0 0 0 0 99,219 400,585 1,116,585 316.225 428.909 450,436 466,458 2,949,545 0 2,679,814 0 1,963,814 0 1,942,414 0 1,895,114 0 1,840,914 0 1,784,514 0 2,949,545 2,679,814 1,963,814 11,942,414 1,895,114 1,840,914 1,784,514 WORKING DOCUMENT 27 OF 47 ' s cA INFORMATION TECHNOLOGY Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Charges for services Capital Contribution Sale of Fixed Assets Interest Subtotal Transfers In General Fund TOTAL INFLOWS OUTFLOWS Expenditures Operations Expenses Capital Expenses TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 502 2005-06 Five Year Cash Flow 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 530,612 530,612 530,612 339,569 346,169 352,969 360,069 530,612 530,612 530,612 339,569 346,169 352,969 360,069 426,018 426,000 426,000 216,225 303,909 320,436 336,458 0 0 9,870 435,888 17,000 443,000 0 0 17,000 443,000 13,600 229,825 13,800 317,709 14,100 334,536 14,400 350,858 0 0 0 435,888 443,000 443,000 229,825 317,709 334,536 350,858 79,896 0 426,018 0 634,043 0 216,225 7,000 303,909 7,000 320,436 7,000 336,458 7,000 79,896 426,018 634,043 223,225 310,909 327,436 343,458 886,604 547,594 339,569 346,169 352,969 360,069 367,469 0 0 0 0 0 0 0 886,604 547,594 1 339,569 346,169 352,969 360,069 367,469 WORKING DOCUMENT 28 OF 47 PARK EQUIPMENT & FACILITY MAINT 503 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Charges for services Capital Contribution Sale of Fixed Assets Interest Subtotal Transfers In General Fund TOTAL INFLOWS OUTFLOWS Expenditures Operations Expenses Capital Expenses TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 254,564 254,564 254,564 510,864 711,264 919,764 1,136,564 254,564 254,564 254,564 510,864 711,264 919,764 1,136,564 250,000 250,000 250,000 250,000 250,000 250,000 250,000 0 0 5,844 255,844 6 300 256,300 0 6,300 256,300 20,400 270,400 28.500 278,500 36,800 286,800 45,500 295,500 0 0 0 255,844 256,300 256,300 270,400 278,500 286,800 295,500 0 0 0 0 0 20,000 50,000 20,000 50,000 26,000 50,000 20,000 50,000 0 0 0 70,000 70,000 70,000 70,000 510,408 510,864 510.864 711,264 919,764 1,136,564 1.362,064 0 0 0 0 0 0 0 510,408 510,864 1 510.864 711,264 919,764 1,136,564 1,362,064 WORKING DOCUMENT 29 OF 47 3- 2005-06 Five Year Cash Flow SILVERROCK OPERATIONS 601 1 2 3 4 5 ' Beginning Fund Balance Advances from General fund - Principal Advances from General fund - Interest Total Restricted/Reserve BEGINNING AVAILABLE Fund BALANCE INFLOWS - Revenues Golf Course revenues Interest Transfers In TOTAL INFLOWS OUTFLOWS Expenses Golf course expenses Reimbursements Total Reimbursements Transfers Out Total CIP SilverRock reserve Total Transfers TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 0 0 0 (586,507) (582,507) (578,307) (573,907) (687,337) 0 (687,337) 0 0 0 0 (2,264) (2,264) (689,601) 0 4687,337) 0 0 0 0 687,337 0 687,337 100,830 104,830 109,030 113,430 767,093 3,520,155 3,520,155 0 0 0 0 0 4,000 4,200 4,400 4,500 120,000 200,000 200,000 0 0 0 0 0 0 0 0 0 0 0 887,093 3,720,155 31720,155 4,000 4,200 4,400 4,500 2,027,461 4,101,272 4,237,309 0 0 0 0 0 0 2,027,461 4,101,272 4,237,309 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 69,353 69,353 0 69,353 69,353 0 0 0 0 2,027,461 4,170,625 41306.662 0 0 0 0 (453,030) (450,470) 100,830 104,830 109,030 113,430 117,930 (687,337) 0 687 337 (687,337) (687,337) (687,337) (687,337) 1,140,367 450,470 (586,507) 582,507 578,307 573,907 569,407 WORKING DOCUMENT 30 OF 47 SILVERROCK RESORT RESERVE Beginning Fund Balance Advances from General fund Total Restricted/Reserve BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Transfers In TOTAL INFLOWS OUTFLOWS Expenses Golf course expenses Reimbursements Total Reimbursements Transfers Out Capital Improvement Program Total CIP Total Transfers TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow am 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 0 0 0 69,353 69,353 69,353 69,353 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 69,353 69,353 69,353 69,353 107 69,353 69,353 0 0 0 0 107 69,353 69,353 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 107 69,353 69,353 69,353 69,353 69,353 69,353 0 0 0 0 0 0 0 107 69,353 69,353 69,353 69,353 69,353 69,353 WORKING DOCUMENT 31 OF 47 POLICE & FIRE SURVIVORS Fund Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Interest Total Revenues Transfers In General Fund TOTAL INFLOWS OUTFLOWS Expenditures Contributions TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 702 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 10,587 10,587 10,587 10,687 11,087 11,487 11,987 10,587 10,587 10,587 10,687 11,087 11,487 11,987 123 100 100 400 400 500 500 123 100 100 400 400 500 500 0 2,000 2,000 2,000 2,000 2,000 2,000 123 2,100 2,100 2,400 2,400 2,500 2,500 2,000 2,000 2,000 2,000 2,000 2,000 0 2,000 2,000 2,000 2,000 2,000 2,000 10,710 10,687 10,687 11,087 11,487 11,987 12,487 0 0 0 0 0 0 0 10,710 10,687 10,687 11,087 11,487 11,987 12,487 WORKING DOCUMENT 32 OF 47 FINANCE AUTHORITY - DEBT SERVICE 310 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Rental Income Contractual Service fees Interest Total Revenues Transfers In RDA Debt service 1 RDA Debt service 2 TOTAL INFLOWS OUTFLOWS Expenditures Contract/Miscellaneous Debt Service 96 Series TAB P&I 2004 Financing Authority Interest Subtotal Expenditures Transfers Out Total Transfers Out TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 3,361 3,361 3,361 3,361 3,361 3,361 3,361 3,361 3,361 3,361 3,361 3,361 3,361 3,361 509,330 680,575 680,575 678,865 675,880 676,450 675,280 0 15,000 15,000 15,000 15,000 15,000 15,000 245 0 0 0 0 0 0 509,085 695,575 695,575 693,865 690,880 691,450 690,280 1,982,532 3,465,227 3,465,227 3,968,515 3,970,960 3,966,396 3,961,932 976,471 1,706,7 1,706,754 1,954,641 1,955,846 1,953,598 1,951,399 2,959,003 5,171,981 5,171,981 5,923,156 5,926,806 5,919,994 5,913,331 3,468,088 5,867,556 5867,556 6,617,021 6,617,686 6,611,444 6,603,611 10,215 15,000 15,000 15,000 15,000 15,000 15,000 509,330 680,575 680,575 678,865 675,880 676,450 675,280 2,959,003 5,171,981 5,171,981 5,923,156 5,926,806 5,919,994 5,913,331 3,478,548 5,867,556 5,867,556 6,617,021 6,617,686 6,611,444 6,603,611 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3 478 548 5,867 556 5,867,556 6617,021 6 617,686 6,611 444 6,603,611 (7,099) 3,361 3,361 3,361 3,361 3,361 3,361 0 0 0 0 0 0 0 7,099 3,361 3,361 3,361 3,361 3,361 3,361 WORKING DOCUMENT 33 OF 47 1i�r � sue. FINANCE AUTHORITY - CAPITAL PROJECTS 420 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Interest Total Revenues Transfers In TOTAL INFLOWS OUTFLOWS Expenditures Bond issuance costs Subtotal Expenditures Transfers Out Total Transfers Out TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 Thru 12/31/05 (Original) 7,017 7,017 7,017 7,017 12 0 2005-06 (Adjusted) 7,017 7,017 0 2006-07 7,017 7,017 0 2007-08 7,017 7,017 0 2008-09 7,017 7,017 0 2009-10 7,017 7,017 0 12 0 0 0 0 0 0 0 0 0 0 0 0 0 12 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7,029 0 7,017 0 7,017 0 7,017 0 7,017 0 7,017 0 7,017 0 7,029 7,017 7,017 7,017 7,017 7,017 7,017 WORKING DOCUMENT 34 OF 47 ' 0 PROJECT AREA NO. 1- BOND Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Interest Home Sale Proceeds Total Revenues Transfers In TOTAL INFLOWS OUTFLOWS Expenditures Contract/Miscellaneous Housing Projects Desert Club Building Horizons Subtotal Reimbursements General Fund Subtotal Expenditures Transfers Out PA 1 Housing 682 Miraflores Single Family 683 Miraflores Senior Apartments 737 Vista Dunes Mobile Home Park Total Transfers Out TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 244 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 WORKING DOCUMENT 35 OF 47 2005-06 Five Year Cash Flow PROJECT AREA NO. 1 - HOUSING 245 Beginning Fund Balance Restricted: 1/2 Total Planning & Development Restricted: Sept Payment on 94 TAB's Restricted: Sept Payment on 2004 Fin Authority Bonds Total Restricted/Reserve BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Tax Increment Tax Increment LQ Rental Program Interest Home Sale Proceeds Rehabilitation loan Repayments Sale of Land Sewer Subsidy Reimbursements 2nd Trust Deed Repayment Miscellaneous Total Revenues Transfers In Low Mod Housing 2 Debt Service 1 - ERAF TOTAL INFLOWS OUTFLOWS Expenditures Contract/Miscellaneous Building Horizons Lq Rental Program Lq Housing Program Lowmod Village Apartments 2Nd Trust Deed Program Lqrp - Rehabilitation Apt Rehabilitation Foreclosure Subtotal Reimbursements General Fund Subtotal Expenditures Transfers Out 1737 Vista Dunes Mobile Home Park PA 1 Debt Service - 94 TABs - 18.5% PA 1 Debt Service - 2004 Financing Authority Total Transfers Out TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 66.67% 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 9,036,555 9,036,555 9,036,555 10,143,138 13,303,271 16,792,767 20,629,791 199,791 474,940 474,940 383,765 385,248 401,782 401,782 367,916 367,916 367,916 9,620 7,525 10,154 11,261 1,972,679 0 1,972,679 515 985 18,134 14,300 17,825 2,540,386 842,856 2,815,535 909,370 410,907 426,236 430,868 6,496,169 8,193,700 6,221,021 9,233,769 12,892,365 16,366,531 20,198,923 776,049 6,675,400 6,675,400 6,875,662 7,081,932 7,294,390 7,513,222 0 0 1,892,204 1,267,204 1,306,220 1,344,377 1,384,708 116,393 276,000 276,000 332,000 323,000 314,000 305,000 79,799 50,900 360,000 293,100 383,100 506,300 642,700 510,841 150,000 480,000 150,000 150,000 150,000 150,000 30,707 0 30,000 0 0 0 0 0 0 0 0 0 0 0 50,304 0 50,000 0 0 0 0 928,183 0 1,000,000 0 0 0 0 0 0 0 0 0 0 0 2,492,275 7,152,300 10,763,604 8,917,966 9,243,252 9,609,067 9,995,630 0 0 0 0 0 0 0 2,492,275 7 152 300 10,763,604 8,917,966 9,243,252 9,609,067 9,995,630 59,796 270,305 270,305 87,955 90,921 123,990 123,990 75,000 250,000 125,000 210,000 210,000 210,000 210,000 118,712 332,000 332,000 332,000 323,000 314,000 305,000 0 500,000 320,000 0 0 0 0 400,000 0 400,000 0 0 0 0 40,000 3,298,340 0 0 0 0 0 0 0 0 136,000 0 150,000 150,000 693,508 1,502,305 5,031,645 629,955 623,921 647,990 638,990 0 339,787 679,574 679,574 679,574 679,574 679,574 679,574 1,033,295 2,181,879 5,711,219 1,309,529 1,303,495 1,327,564 1,318,564 0 0 0 0 0 0 0 480,575 480,575 480,575 479,789 479,301 478,083 476,960 1,501,957 3,465,227 3,465,227 3,968,515 3,970,960 3,966,396 3,961,932 1,982,532 3,945,802 3,945,802 4,448,304 4,450,261 4,444,479 4,438,892 3,015,827 6,127,681 9,657,021 5,757,833 5,753,756 5,772,043 5,757,456 5,972,617 9,218,319 7,327,604 9,578,367 12,656,957 16,067,745 19,875,051 2,540,386 842,856 2,815,535 3,724,904 4,135,811 4,562,047 4,992,915 8,513,004 10,061,174 10,143,138 13,303,271 16,792,767 20,629,791 24,867,965 WORKING DOCUMENT 36 OF 47 2005-06 Five Year Cash Flow 4 5 2 3 2009-10 1 2006-07 2007-08 2008-09 301 2005-06 2005-06 13,680,154 17,942,049 EA N0.1 - DEBT SERVICE Thru 12/31 /05 (original) (Adjusted) 7 252,185 10,071,127 PROJECT AR 4,601,741 0 0 4,601,741 4,601,741 p 0 0 p 0 g6,927 10,004,964) (12,000,000) 0 61,490 Beginning Fund B8lance 00,004,964) ( 0 54,885 60,870 p 0 (4,334,126) (3'988,733 2081,408 0 0 General Fund -Principal 1,988,733 0 0 0 14,523 Advances from ►nterest 2,081,408 409,760 409,760 p 10,775 General Fund - 409,760 1,215,360 7 g80 6,750 10,672 5,248 Advances from Sept Payment on 94 TAB's 1 215,360 1,215,360 1 52g 691 11,096 7 781 Restricted: Payment on 98 TAB s 1,520,384 6,414 7 479 7,630 gq 479 Restricted: Sept 1,529,691 1,202,095 7 333 90,567 Sept Payment on 2001 TAB's 1 202 p95 366 652 g6,195 Restricted: SeptPayment on 2002 TAB's 355 938 76,612 Restricted: Taxable TAB's 366 652 (5,195,034) 13,589,587 17,847,570 Septpayment on 2003 (7,534,124) (7,757,721) g,g84,932 Restricted: ber Payment to CVUSD7,175,573 Restricted: Decem 12,359,462 g'796'775 Total Restricted/Reserve 12,135,865 LE Fund BALANCE 29,177,559 30,052,886 BEGINNING AVAILABLE 28,321,727 5,377,506 5,538,831 26,701,600 27,502,648 5,220,880 717 700 INFLOWS 26,701,600 5 068,816 4p2 800 547 200 3,104,197 0 7,568,816 290,100 35102,265 36,309,417 Revenues 0 300 000 32,861,564 33,951,407 155 897 93100 34,570,416 Tax Increment 26,794,700 4,438,892 Tax Increment 3,260,094 4,444,479 Interest 4,448,304 4,450,261 Total Revenues 3,945,802 1,982,532 3,945,802 4444479 4 438 892 q 448 304 4-4 5-0 261 Transfers Ir► 40,748309 RDA PA 1 Housing ects - County Pass Through 3 g45 g02 3 g45 802 39 546 744 RDA PA 1 Capital Pro) ERAF 1 982 532 37309868 38 401 668 RDA PA 1 Capital Projects - 3851 6 218 5,24 626 30 740 502 TOTAL INFLOWS 229,676 238,449 247,525 OUTFLOWS 10,770 537,800 537,800 394,585 Expenditures 2,597,700 2,599,465 2,612,140 g19,520 ContracdMiscellaneous 2,599,465 819,520 21597,700 819,520 2 430,720 21430,720 2,597,700 819,520 2 430,720 2,467,091 2,081,407 819,572 21430,720 2,467,361 819,520 2,430,720 2,470,131 1,989,882 Debt Service 409,760 2 430,720 2,470,825 1,988,114 g4 Series TAB P&I 1,215,360 2,467,361 1 992,B 1,990,604 740,636 755,449 1,529,691 1,96)0 361 1,990,604 726,114 98 Series TAB P&1 1,gg0,604 711,876 11,060,362 2001 Series TAB P&I 1,202,095 740,636 11,058,491 740,636 711,876 11,036,554 2002 Series TAB P&I 11,046,541 111024,864 2003 Series TAB P&I 11,017,781 17,012 CVUSD 7,178,949 5,559 11,229 12 798 Subtotal Debt Service 4,182 4 8,447 6,476 275 2,116 1,054 payments 344 695 124 Pass Through Pay 82 of La Quinta 41 712,682 734,063 City 691,924 508,948 County Schools 671,771 494,125 0 Cv park & Recreation 706,811 465.760 479�733 0 p 550,708 490,054 0 15,238,548 Public Cemetary anon 381,823 p 0 14,794,707 3 p00 000 p 13,945,431 14,363,793 3 000 000 Resource Consery 0 14,672,835 3 000 000 19,481,559 CVWD 11,432,256 3 000 000 19 001,514 CV Mosquito Abatement 1,266,568 3 000 000 2 903 657 18,082,962 18,535,450 DSUSD 0 18,773,357 1,020,00 1,020,000 1,266,568 15,364,787 1,020,000 Riverside County ment 1,020,000 31,809,446 ERAF Loan Rep Y h Payments 1,116,237 1,133,339 31,318,454 Through 578,233 30,522,411 30,821,680 Subtotal Pass 31,491,037 Loan 9,034,520 28,036,605 p Interest on City p 0 Subtotal Expenditures p gpg,510 0 0 3 961 932 273,000 3 970 960 3,96639 3,961,932 3,968 515 3 970 960 3,966,396 Transfers OutRDA PA 1 Capital 3 465,227 3 37 7 7 3,968,515 1,982 532 3, 465,227 4 374,737 3528485 0 35 771 378 RDA PA 1 Low/Mod Housing btservice 2 255,53234 792 640 Authority 35 865 774 34 490 926 27,766,161 2004 Finance 31 501 832 22,883,70g 11 290 052 15,189,549 18,712,381 4 941 660 4 847 181 12,447,219 5 032 227 11,598,132 5 195 034 5 118 422 22,g18,980 TOTAL OUTFLOWS 6,088,439 7 757 721 17,g42,049 7 534 124 10,071,127 13,680,154 AVAILABLE Fund BALANCE 3,g40,411 7,252,185 Restricted /Reserve Funds 1 445,685 37 OF 47 WORKING DOCUMENT BALANCE Fund 2005-06 Five Year Cash Flow PROJECT AREA NO. 1 - CAPITAL PROJECTS Beginning Fund Balance Advances to Park DIF Advances to Library DIF Reserve for economic Development Projects Less Library Add back Library applied to Silverrock Less SilverRock Total Restricted/Reserve BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Pooled Interest Non Allocated Interest Rental Income Proceeds from loans Proceeds from Bond issue Litigation proceeds Transfers In PA 1 Debt Service TOTAL INFLOWS OUTFLOWS Expenditures Contract Services/Misc Advertising -Economic Dev Economic Development Sewer Subsidy Program Bond Issuance Costs Land Acquisition Capital - Building Subtotal Reimbursements General Fund Transfers Out Capital Improvement Program 1644 Washington/1-10Interchange 1651 Sidewalks - Various Locations 1652 Handicap ramp - Various Locations 1673 Phase VI -A Village Commercial 1679 Cove Oasis/Lake Cahuilla 1705 Museum Expansion 1714 Eisenhower Dr Rehab and Median Islands 1722 Downtown Lighting 1723 SilverRock Resort 1728 Eisenhower Landscape - LQ Country Club 1734 Addition to Boys & Girls Club 1735 Sports Complex Improvements 1736 Misc Street Improvements 1739 Village Parking Lot 1726 Eisenhower Dr Bridge Total CIP Transfer to Other Funds Total Transfers TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds - Advances to Park DIF Restricted /Reserve Funds - Advances to Library DIF Restricted /Reserve Funds - Economic development ENDING Fund BALANCE 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 30,441,596 30,441,596 30,441,596 8,361,172 7,846,857 7,317,342 6,787,827 3,012,907 3,012,907 60,258 61,463 62,693 63,946 2,353,036 2,353,036 47,061 48,002 48,962 49,941 4.410,000 4,410,000 4,410,000 0 0 0 0 (1,200,000) (1,200,000) 0 0 0 0 1,200,000 1,200,000 1 795 210 1 795 210 7,980,733 4,410,000 7 980 733 107,319 109,465 111,655 113,888 22,460,863 26,031,596 22,460,863 8,253,853 7,737,392 7,205,687 6,673,939 75,825 12,500 150,000 15,200 0 0 0 421,245 500,000 1,000,000 0 0 0 0 0 0 0 0 0 0 0 0 273,000 909.510 0 0 0 0 770,070 512,500 2 059 510 15,200 0 0 0 94,745 312,262 312,262 125,000 125,000 125,000 125,000 0 0 0 0 25,000 55,000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 94,745 337,262 367,262 125,000 125,000 125,000 125,000 159,757 319,515 319,515 319,515 319,515 319,515 319,515 50,000 50,000 50,000 50,000 50,000 50,000 50,000 (63) 0 25,000 10,000 73,144 32,887 25,000 10,000 25,000 10,000 25,000 10,000 25,000 10,000 0 0 (4,865) 0 0 0 0 0 0 0 0 0 0 0 3,120 0 199,000 0 0 0 0 (35,801) 0 46,208 0 0 0 0 (193,648) 1,792,262 0 0 0 19,082,354 0 0 0 0 0 0 43,990 0 0 0 0 0 0 353,275 0 0 0 0 156,266 0 93,649 0 0 0 0 0 0 0 727,154 0 792,515 0 0 0 0 1,145,271 0 2.691.000 0 0 0 0 3,644,561 85,000 23,453,157 85,000 85,000 85,000 85,000 0 0 0 0 0 0 0 3,644,561 85,000 23.453.157 85,000 85,000 85,000 85,000 3,899,064 741,777 24.139.934 529,515 529,515 529,515 529,515 21,946,659 30,212,319 380,439 (241,195) (880,175) (1,521,345) (2,164,747) 3,012,907 0 3,012,907 3,073,165 3,134,628 3,197,321 3,261,267 2,353,036 0 2,353,036 2,400,097 2,448,099 2,497,061 2,547,002 2,614,790 2,614,790 2,614,790 2,614,790 2,614,790 27,312,602 30,212,319 1 8,361,172 1 7,846,857 7,317,342 6,787,827 6,258,312 WORKING DOCUMENT 38 OF 47 PROJECT AREA NO. 1 - CAPITAL PROJECTS - TAXABLE Beginning Fund Balance Total Restricted/Reserve BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Interest Rental Income Proceeds from bonds Proceeds from Bond issue Litigation proceeds Transfers In PA 1 Debt Service TOTAL INFLOWS OUTFLOWS Expenditures Bond Issuance Costs Subtotal Transfers Out Capital Improvement Program 1723 SilverRock Ranch Total CIP Transfer to Debt Service 1 Total Transfers TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 0 0 0 4,594 4,594 4,594 4,594 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4,594 4,594 4,594 4,594 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 4 594 0 0 0 0 0 0 (4,594) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 --(4,594) 0 0 (4,594) 0 0 0 0 0 0 0 4,594 0 0 4,594 0 4,594 0 0 0 4,594 4,594 4,594 4,594 4,594 WORKING DOCUMENT 39 OF 47 PROJECT AREA NO.2 - BOND 244 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Interest Bond Proceeds (net) Total Revenues Transfers In RDA PA1 Bond TOTAL INFLOWS OUTFLOWS Expenditures 2nd Trust Deeds Land Bond issuance costs Reimbursements General Fund Subtotal Expenditures Transfers Out PA 2 Low Moderate Fund Transfers Out -CIP 1682 Miraflores Single Family 1683 Miraflores Senior Apartments 1737 Vista Dunes Mobile Mohe Park Transfers Out - CIP Total Transfers TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 WORKING DOCUMENT 40 OF 47 r t' 2005-06 Five Year Cash Flow PROJECT AREA NO.2 • HOUSING 246 Beginning Fund Balance ERAF Principal Repayment Restricted: 1/2 Total Planning & Development Restricted: Sept Payment on 2004 Fin Authority Bonc 33.330% Total Restricted/Reserve BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Tax Increment Tax Increment Proceeds from sale of bonds Developer funding Interest 2nd Trust Deed Repayment Vista Dunes MHP Rental Rev Sale of land Total Revenues Transfers In Low Moderate Housing Bond Fund TOTAL INFLOWS OUTFLOWS Expenditures Contract/M iscellaneous 47th and Adams Foreclosure Acquisition Low Mod Housing Project Adams 48th from Centerpointe Wash/Miles Project Vista Dunes Mobile Home Park LQRP Second Trust Deeds LQRP 2nd trust deeds from Centerpointe Subtotal Reimbursements General Fund Subtotal Expenditures Transfers Out Capital Improvement Program 1737 Vista Dunes Mobile Home Park 1741 Hammer Property Total CIP PA 2 Debt Service - 2004 Low Mod Housing Total Transfers TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 9,077,880 9,077,880 9,077,880 5,872,827 8,210,800 10,857,309 13,751,954 54,638 141,764 141,764 99,975 54,506 55,108 55,668 986,324 986,324 986,324 257,990 9,066 7,150 8,913 1,040 962 1,128 088 1,128,088 357,965 63,572 62,258 64,581 8,036,918 7,949,792 7,949,792 5,514,863 8,147,228 10,795,051 13,687,374 503,997 3,445,900 3,445,900 3,549,277 3,655,755 3,765,428 3,878,391 0 0 1,261,694 1,104,194 1,137,320 1,171,439 1,206,582 0 0 0 0 0 0 0 90,742 275,300 275,300 189,800 269,000 372,300 485,600 112,097 0 112,500 0 0 0 0 14,671 0 15,000 0 0 0 721,508 3,721,200 5,110,394 4,843,271 5,062,075 5,309,167 5,570,573 721,508 3,721,200 5,110 394 4,843,271 5,062,075 5,309,167 5,570,573 109,275 283,528 283,528 199,949 109,012 110,216 111,335 0 242,296 776,239 0 150,000 150,000 0 105,015 710 1,423,203 1,423,203 0 0 0 90,426 0 147,307 0 500,000 852,693 0 2,520,000 2,520,000 200,411 5,119,027 6,257,985 199,949 109,012 110,216 111,335 175,354 350,708 350,708 350,708 350,708 350,708 350,708 375,765 5,469,735 6,608,693 550,657 459,720 460,924 462,043 0 0 0 0 0 0 0 0 0 0 0 976,471 1,706 754 1,706,754 1,954 641 1,955,846 1,953,598 1,951,399 976,471 1,706,754 1,706,754 1,954,641 1,955,846 1,953,598 1,951,399 976,471 1,706,754 1,706,754 1,954,641 1,955,846 1,953,598 1,951,399 1,352,236 7,176 489 8,315,447 2,505,298 2,415,566 2,414,522 2,413,442 7,406,190 4,494,503 4,744,739 6,724,748 9,307,685 12,140,072 15,232,622 1,040,962 1,128,088 1,128,088 1,486,053 1,549,625 1,611,883 1,676,463 8,447,152 5,622,591 5,872,827 8,210,800 10,857,309 13,751,954 16,909,085 WORKING DOCUMENT 41 OF 47 PROJECT AREA NO.2 - 2004 LOW MOD HOUSING 248 Beginning Fund Balance INFLOWS Revenues Interest Total Revenues Transfers In Low Moderate Housing Bond Fund TOTAL INFLOWS OUTFLOWS Expenditures Housing Land Subtotal Transfers Out Capital Improvement Program 1737 Vista Dunes Mobile Home Park 1741 Hammer Property Total CIP TOTAL OUTFLOWS ENDING Fund BALANCE 2005-06 Five Year Cash Flow Thru 12/31/05 58,094,701 647,776 2005-06 (Original) 58,094,701 1,418,400 2005-06 (Adjusted) 58,094,701 1 418 400 2006-07 2,129,249 2007-08 2,129,249 2008-09 2,129,249 2009-10 2,129,249 647,776 1,418,400 1,418,400 0 0 0 0 647,776 1,418,400 1,418,400 0 0 0 0 48 51,021,866 3,000,000 51,021,866 3 000 000 48 734,308 0 54,021,866 0 0 54,021,866 3,361,986 0 0 0 0 734,308 0 3,361,986 0 0 0 0 734,356 54,021,866 57,383,852 0 0 0 0 58,008,121 5,491,235 2,129,249 2,129,249 2,129,249 2,129,249 2,129.249 WORKING DOCUMENT 42 OF 47 2005-06 Five Year Cash Flow PROJECT AREA NO.2 - DEBT SERVICE 302 1 2 3 4 5 Beginning Fund Balance Advances from General Fund - Principal Advances from General Fund - Interest Restricted: September Payment on 98 TABS Total Restricted/Reserve BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Tax Increment Tax Increment Interest Total Revenues Transfers In RDA PA 2 Housing Sam's Club TOTAL INFLOWS OUTFLOWS Expenditures Contract/Miscellaneous Debt Service 98 Series TAB P&I Riverside County - 4/28/98 Subtotal Debt Service Pass Through Payments CVWD CV Mosquito Abatement Riverside County DSUSD Co Superintendent of Schools Desert Community College CVRPD Subtotal Pass Through Payments Interest on City Loan Subtotal Expenditures Transfers Out 2004 Finance Authority Debt service TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) (7,239,414) (7,239,414) (7,239,414) 217,312 1,802,559 3,529,317 5,356,548 (6,308,514) (6,308,514) (10,000,000) 0 0 0 0 (5,763,758) (5,280,866) 0 0 0 0 0 260,646 260,646 260,646 2,875 2,743 2,607 2,442 11,811,626 11,328,734 9,739,354 2,875 2,743 2,607 2,442 4,572,212 4,089,320 2,499,940 214,437 1,799,816 3,526,710 5,354,106 2,015,989 13,783,600 13,783,600 14,197,108 14,623,021 15,061,712 15,513,563 0 5,046,775 4,416,775 4,549,278 4,685,756 4,826,329 130,131 0 275,000 398,300 461,600 530,500 603,500 2,146,119 13,783,600 19,105,375 19,012,183 19,633,899 20,277,968 20,943,392 976,471 1,706,754 1,706,754 1,954,641 1,955,846 1,953,598 1,951,399 6,291,900 6,291,900 9,414,490 15,490,354 27,104,029 20,966,824 21,589,745 22,231,566 22,894,791 750 195,970 195,970 73,734 77,672 81,028 84,114 260,646 419,168 419,168 417,080 418,264 419,168 419,785 0 100,000 100,000 100,000 100,000 150,000 200,000 260,646 519,168 519,168 517,080 518,264 569,168 419,785 0 1,319,783 1,803,013 1,782,284 1,835,752 1,890,825 1,947,550 0 356,652 487,238 481,636 496,085 510,968 526,297 818,549 5,730,547 7,828,749 7,738,743 7,970,905 8,210,032 8,456,333 0 3,201,250 4,373,367 4,323,086 4,452,779 4,586,362 4,723,953 0 361,820 494,298 488,615 503,274 518,372 533,923 0 665,061 908,569 898,123 925,067 952,819 981,403 0 91,552 125,073 123,635 127,344 131,165 135,100 818,549 11,726,665 16,020,307 15,836,122 16,311,205 16,800,541 17,304,558 665,370 1,593,358 1,205,104 1,000,000 1,000,000 1,000,000 1,000,000 1,745,315 14,035,161 17,940,549 17,426,936 17,907,141 18,450,737 18,808,457 976,471 1,706,754 1,706,754 1,954,641 1,955 846 1,953,598 1,951,399 976,471 1,706,754 1,706,754 1,954,641 1,955,846 1,953 598 1,951,399 2,721,786 15,741,915 19,647,303 19,381,577 19,862 987 20 404,335 20,759,856 11,264,916 3,837,759 9,956,666 11,539,038 13,263,053 15,087,677 17,220,170 11,811,626 11,328,734 9,739,354 9,736,479 (9,733,736) 9,731,129 9,728,687 (546,710) (7,490,975) 1 217,312 1,802,559 3,529,317 5,356,548 7,491,483 WORKING DOCUMENT 43 OF 47 2005-06 Five Year Cash Flow PROJECT AREA NO. 2 - CAPITAL PROJECTS Beginning Fund Balance Advance to Fire DIF Reserved for Economic Development Hwy 111 Subtotal BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Interest Developer Transfers In PA 2 Debt Service TOTAL INFLOWS OUTFLOWS Expenditures Contract Services/Misc Advertising -Economic Dev Economic Development Subtotal Expenditures Reimbursements General Fund Transfers Out Capital Improvement Program 1675 Phase V-C Westward Ho 1723 SilverRock Resort 1732 Hwy 111 1676 Phase V-D Sagebrush, Bottlebrush,Saquaro 1742 Simon Dr Signal Total CIP Transfer to Debt Service Total Transfers TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 406 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 1,632,833 1,632,833 1,632,833 2,538,519 2,547,216 2,556,313 2,565,710 1,052,630 1,500,000 1,052,630 0 0 0 0 0 482,000 482,000 0 0 0 0 0 0 312,000 0 0 0 0 1,052,630 1,982,000 1,222,630 0 0 0 0 580,203 (349,167) 410,203 2,538,519 2,547,216 2,556,313 2,565,710 40,023 37,100 80,000 52,600 53,000 53,300 53,700 7,824,584 7,824,584 0 0 0 0 0 0 0 7,864,607 37,100 7,904,584 52,600 53,000 53,300 53,700 23,925 198,062 198,062 20,000 20,000 20,000 20,000 0 0 0 0 0 0 0 0 0 0 23,925 198,062 198,062 20,000 20,000 20,000 20,000 11,952 23,903 23,903 23,903 23,903 23,903 23,903 0 0 2,736 0 0 0 0 0 0 187,244 0 312,000 0 0 124,918 0 0 0 0 0 0 45,379 0 0 0 0 187,244 0 485,033 0 0 0 0 6,291,900 6,291,900 0 0 0 0 6,479,144 0 6,776,933 0 0 0 0 6,515,020 221,965 6,998,898 43,903 43,903 43,903 43,903 1,929,790 (534,032) 1,315,889 1,324,586 1,333,683 1,343,080 1,352,877 1,052,630 1,982,000 1,222,630 1,222,630 1,222,630 1,222,630 1,222,630 2,982,420 1,447,968 1 2,538,519 2,547,216 2,556,313 2,565,710 2,575,507 WORKING DOCUMENT 44 OF 47 DEV AGRMNT 217 Beginning Fund Balance BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Mitigation Measures Interest Transfers In TOTAL INFLOWS OUTFLOWS Transfers Out Capital Improvement Program CIP Total CIP TOTAL OUTFLOWS AVAILABLE Fund BALANCE Restricted /Reserve Funds ENDING Fund BALANCE 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 0 0 0 180,000 187,200 194,700 202,500 0 0 0 180,000 187,200 194,700 202,500 0 0 180,000 0 0 0 0 0 0 0 7,200 7,500 7,800 8,100 0 0 0 0 0 0 0 0 0 180,000 7,200 7,500 7,800 8,100 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 180,000 187,200 194,700 202,500 210,600 0 0 0 0 0 0 0 0 0 180,000 187,200 194,700 202,500 210,600 WORKING DOCUMENT 45 OF 47 2005-06 Five Year Cash Flow REIMBURSEMENTS 2005-06 1 2 2006-07 3 2007-08 4 2008-09 5 2009-10 2005-06 Thru 12/31/05 (Original) (Adjusted) General Gas Tax Fund (291,900) (583,800) (583,800) (604,200) (625,300) (647,200) (669,900) General Lighting & Landscape (421,100) (842,200) (842,200) (867,500) (893,500) (920,300) (947,900) General Civic Center (102,076) (204,173) (204,173) (203,660) (202,764) (202,935) (202,584) General Capital Improvement Fund (162,218) (213,609) (1,031,478) (49,221) (2,500) (2,500) (2,500) General Library Fund (93,927) (843,605) (843,605) (885,785) (930,075) (976,578) (1,025,407) General Redevelopment (686,850) (1,373,700) (1,373,700) (1,373,700) (1,373,700) (1,373,700) (1,373,700) Civic Center General Fund 102,076 204,173 204,173 203,660 202,764 202,935 202,584 RDA CIP 1 General Fund 159,757 319,515 319,515 319,515 319,515 319,515 319,515 RDA CIP 2 General Fund 11,952 23,903 23,903 23,903 23,903 23,903 23,903 Gas Tax General Fund 291,900 583,800 583,800 604,200 625,300 647,200 669,900 L&L General Fund 421,100 842,200 842,200 867,500 893,500 920,300 947,900 CIP General Fund 162,218 213,609 1,031,478 49,221 2,500 2,500 2,500 RDA 1 Housing General Fund 339,787 679,574 679,574 679,574 679,574 679,574 679,574 RDA 1 Bond General Fund 0 0 0 0 0 0 0 Library General Fund 93,927 843,605 843,605 885,785 930,075 976,578 1,025,407 RDA 2 Housing General Fund 175,354 350,708 350,708 350,708 350,708 350,708 350,708 RDA 2 Bond General Fund 0 0 0 0 0 0 0 0 0 0 0 0 0 0 WORKING DOCUMENT 46 OF 47 TRANSFERS 2005-06 1 2 200"7 2005-06 Five Year 3 2007-08 Cash Flow 4 2008-09 5 2009-10 2005-06 Thru 12/31/05 (Original) (Adjusted) ALL FUNDS -TRANSFERS IN Fund Project Amount Budget Budget-1 CIP Art in Public Places 0 O 226,920 0 0 0 0 CIP Gas Tax 17,105 0 140,932 0 0 0 0 CIP General Fund 443.624 223,454 1,840,045 223,454 223,454 223,454 223,454 CIP Federal Assistance - CDBG 306,084 175,010 487,307 0 0 0 0 CIP Lighting & Landscape 0 0 0 0 0 0 0 CIP Quimby 101,300 0 eO5.133 0 0 0 0 CIP Infrastructure 220,280 8,751 721,353 0 0 0 0 CIP CMAQ-ISTEA 0 0 0 0 0 0 0 CIP Transportation DIF 2,108.410 4,057,578 7,322,318 1,250,000 0 0 0 CIP Park DIF 13,110 0 113,358 0 0 0 0 CIP Library DIF 0 0 0 0 0 0 0 CIP CIP RDA PA2 Housing Bond Fund RDA PA2 Housing Furl O 0 0 0 0 0 O 0 0 0 O 0 0 0 CIP RDA PA1 Housing Fund 0 0 0 0 0 0 0 CIP RDA PAt Housing Bond Fund 0 0 0 0 0 0 0 CIP Financing Authortyy 0 0 0 0 0 0 0 GIP RDA CIP 1 3,844,5el 85,000 23,463,157 85,000 85,000 85,000 85,000 CIP RDA CIP 2 187,244 0 485,033 0 0 0 0 CIP AD 2000-1 0 '0 0 0 0 0 0 CIP Village Parking 0 0 (1,893) 0 0 0 0 CIP Civic Center DIF 0 0 3,146,118 0 0 0 0 CIP Fire Tax 0 0 0 0 0 O 0 CIP Urban Forestry Grant 0 0 0 0 0 0 0 CIP Library County Dif Fund 0 0 0 0 0 0 0 CIP RDA 1- Taxable 0 0 (4,594) 0 0 0 0 CIP Library Fund 51,315 0 509,373 0 0 0 0 CIP SCAQMD 0 0 0 0 0 0 0 CIP Equipment Replacement 0 0 657,000 0 0 0 0 CIP RCTC 104.570 0 2,050.829 0 0 0 0 CIP 2004 Low Mod Project Fund 734,308 0 3,3e1,98e 0 0 0 0 General Gas Tax 0 0 0 0 0 0 0 General COPS & SLESF 0 101,400 101,400 0 0 0 0 General Urban Forestry 0 0 0 0 0 0 0 General RCTC 0 0 0 0 0 0 0 General SCAQMD 0 0 0 0 0 0 0 General Quimby 0 0 40,000 0 0 0 0 General Federal Assistance 0 30,000 30,000 30,000 30,000 30,000 30,000 General Park DIF 0 0 0 0 0 0 0 General Indian Gaming 37,330 201,142 344,082 0 0 0 0 Police General FUND 0 2,000 2,000 2,000 2,000 2,000 2,000 Transportation Infra3hzbjre 0 0 0 0 0 0 0 Transportation Park 0 0 0 0 0 0 0 Library Library County DIF 0 0 0 0 0 0 0 Library City Library Fund 0 0 0 0 0 0 0 PA 1 Debt Service RDA PAt Housing 1.982,532 3,945.802 3,945,802 4,448,304 4,450,2el 4,444,479 4,438,892 PA 2 Debt Service RDA PA2 Housing 976,471 1,700.754 1,70e,754 1,954.841 1,955,84e 1,953,598 1,951,399 RDA PA1 Housing RDA PA2 Housing 0 0 0 0 0 0 0 RDA PA1 Housing PA 1 Debt Service 0 0 0 0 0 0 0 Finance Authority RDA Debt service 1 1,982,532 3,405.227 3,465,227 3,988,515 3,970,900 3,9e8,39e 3,981,932 Finance Authority RDA Debt service 2 97e,471 1,706.754 1,70e,754 1,954,841 1,955,848 1,953.598 1,951,399 RDA PAI CIP PA 1 Debt Service 273,000 0 909,510 0 0 0 0 PA 1 Debt Service RDA CIPt 0 0 0 0 0 0 0 PA 1 Debt Service RDA CIP1 0 0 0 0 0 0 0 PA 2 Debt Service RDA CIP2 8,291,900 0 8,291,900 0 0 0 0 RDA PA 2 CIP RDA DS2 0 0 0 0 0 0 0 Infrastructure 0 0 0 0 0 0 0 Fire Tax Infrastructure 0 0 0 0 0 0 0 SilverRock General Fund 120.000 200.000 200,000 0 0 0 0 RCTC General Fund 0 0 0 0 0 0 0 SilverRock reserve SilverRock 0 89,353 09,353 0 0 0 0 0 0 0 0 Development Agreement TOTAL INFLOWS 0 20,788,751 0 15,978,225 63,933,757 `13,916.555 12,e73,307 12,658,525 12,644,071 2006-GO Fives Year Cash Flow TRANSFERS 1 2 3 4 5 2005-M 2008-07 2007-08 2008-09 2008.10 2005-M Thru 12/31/05 (Original) (Adjusted) ALL FUNDS - TRANSFERS OUT Fund Project 1099 Amount 122,250.00 Budget 198,454 Budget_1 198,454 198,454 198,454 198,454 198,454 CIP General CIP General 1704 0.00 0 70,048 0 0 0 0 0 CIP General 1710 0.00 0 0 0 0 0 0 0 0 CIP General 1714 1723 0.00 291,219.00 0 0 0 500,000 0 0 0 0 0 CIP General CIP General 1732 1751 11,539.00 18,616.00 0 25,000 81,704 35,937 O 25,000 0 25,000 0 25,000 0 25,000 CIP Genera) 1758 0.00 0.00 953,902.00 0.00 0.00 0.00 0.00 CIP General 0.00 2,000 2,000 2,000 2,Oo0 2,000 2,000 General General 120,000.00 200,000 200,000 0 0 0 0 General 0.00 0.00 0 0 0 0 0 0 0 0 0 0 0 0 Gas Tax Gas Tax 1736 3,072.00 0.00 32,885 0.00 0.00 0.00 0.00 Gas Tax 1748 4,310.00 0.00 3,183 0.00 0.00 0.00 0.00 Gas Tax 1747 0.00 0.00 8.183 0.00 0.00 0.00 O.00 Gas Tax 1752 9,723.00 0.00 g6,881 0.00 0.00 0.00 0.00 CIP Infrastructure 1635 0.00 0 397.570 0 0 0 0 0 0 CIP Infrastructure 1726 0.00 0 0 0 0 0 0 0 CIP Infrastructure 1733 235,404.00 0 235,404 0 0 0 0 0 CIP Infrastructure 1740 (9,118.00) 0 40,001 0 0 0 0 CIP Infrastructure 1742 0.00 0 39,621 0 0 0 0 CIP Infrastructure 1753 0.00 8,751 8,751 0 0 0 0 Transfer to Transportation DIF O.00 0 0 0 0 0 0 Transfer to Library DIF 0.00 0 0 0 0 0 0 0 Transfer to Fire DIF 1644 0.00 50,000.00 0 50,000.00 50,Oo0 50,000.00 50,000.00 50,000.00 50,000.00 CIP RDA CIP1 1651 (83.00) 25,000.00 73,144 25,000.00 25,000.00 25,000.00 25.000.00 CIP RDA CIP1 CIP RDA CIPt 1852 0.00 10.000.00 32,887 10,000.00 10,000.00 10,000.00 10,000.00 CIP RDA CIP1 1673 0.00 0.00 (4,886) 0.00 0.00 0.00 0.00 CIP RDA CIP1 1879 1705 0.00 3,120.00 0.00 0.00 0 1g9,000 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 CIP RDA CIP1 CIP RDA CIP1 1714 (35,801.00) 0.00 48,208 0.00 0.00 0.00 0.00 CIP RDA CIP7 1722 1723 (193,048.00) 1,792,262.00 0.00 0.00 0 19,082,354 0.00 0.00 0.00 0.00 CIP RDA CIP1 CIP RDA CIP1 1728 0.00 0.00 43,990 0.00 0.00 0.00 0.00 CIP RDA CIP1 1734 0.00 0.00 353,275 0.00 0.00 0.00 0.00 CIP RDA CIP1 1735 158,286.00 0.00 93,648 0.00 0.00 0.00 0.00 CIP RDA CIP1 1730 1739 0.00 727,154.00 O.oO 0.00 0 792,515 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 CIP RDA CIPt CIP RDA CIP1 1720 1,145,271.00 0.00 2,891,000 0.00 0.00 0.00 0.00 CIP RDA CIP1 1675 0.00 0.00 0.00 0 0 2,730 0 0 0 0 CIP RDA CIP2 CIP RDA CIP2 1723 0.00 0 0 0 0 0 0 CIP RDA CIP2 1732 187,244.00 0 312,000 0 0 0 0 0 CIP RDA CIP2 1876 0.00 0 124,018 0 0 0 0 0 CIP RDA CIP2 1742 0.00 0 45,379 0 0 0 0 0 CIP RDA CIP2 0,2g1,gW.00 0 6,291,900 0 0 0 0 COPS 0.00 101,400 101,400 0 0 0 0 Federal Assistance 1714 174,427.00 0 174.427 0 0 0 0 Federal Assistance 1722 132,237.00 0 (42,485) 0 0 0 0 Federal Assistance 1739 0.00 0 180.365 0 0 0 0 0 Federal Assistance 1753 0.00 175,010 175,010 0 0 0 0 Federal Assistance 0.00 0.00 0 30,000 0 30,000 30,000 30,000 30,000 30,000 Federal Assistance 0 0.00 0 0 0 0 0 0 Finance Authority 0.00 0 40,000 0 0 0 0 Quimby Quimby 1894 8,217.00 0 216,893 0 0 0 0 Quimby 1702 152,000.00 0 152.009 0 0 0 0 0 Quimby 1750 1.074.00 0 8.231 0 0 0 Quimby 1735 0.00 230.000 0 0 0 Urban Forestry 1830 0.00 0 0 0 0 0 0 0 0 0 CIP Proposed AD 1073 0.00 0 0 0 0 0 0 CIP Proposed AD 1075 0.00 0 0 0 0 0 CIP Proposed AD 1876 0.00 0 0 0 0 0 RDA Debt 1 273,000.00 0 909,510 0 0 0 0 RDA Debt 1 0.00 1.982,532.00 0 3,465,227 0 3,465,227 3,968,515 3,970,980 3,966,396 3,961,932 RDA Debt 1 RDA Debt 070,470.99 1,706,754 1,706,764 1,954,641 1,955,848 1,953,598 1,951,399 RDA Housing 1 0.00 480,575.00 0 480,575 0 480,575 0 479,789 0 479,301 0 478,083 0 470,900 RDA Housing 1 RDA Housing 1 1,501,957.00 3,405,227 3,405,227 3,968,515 3,970,900 3,906,390 3,9el,932 RDA Housing 2 1737 0.00 0 0 0 0 0 0 0 0 0 RDA Housing 2 1741 0.00 97e,471.00 0 1,70e,754 0 1.700,754 0 1,954,041 1.965,840 1,953,598 1,051,399 RDA Housing 2 0.00 0 0 0 0 0 0 RDA Housing Bond 1 882 0.00 0 0 0 0 0 0 RDA Housing Bond 1 683 0.00 0 0 0 0 0 0 RDA Housing Bond 1 737 0.00 0 0 0 0 0 0 RDA Housing Bond 1 0.00 0 0 0 0 0 0 RDA Housing Bond 2 1082 0.00 0 0 0 0 0 0 RDA Housing Bond 2 1683 0.00 0 0 0 0 0 0 RDA Housing Bond 2 0.00 0 0 0 0 0 0 RDA Housing Bond 2 1737 3.778,095 0 0 0 0 Transportation DIF 1710 1.391,950.00 3.269,819 0 0 0 0 Transportation DIF 1723 0.00 0 0 0 0 0 0 Transportation DIF 1726 117,409.00 0 117,409 0 0 0 Transportation DIF 1743 29,985.00 0 g10,19g 0 0 0 0 Transportation DIF 1744 10,80g.00 0 103,200 0 0 0 0 Transportation OF 1745 0.00 0 85,504 0 0 0 0 Transportation DIF 1733 015,785.00 0 1,539.952 0 0 0 0 Transportation DIF 1754 1,437.00 250,000 250,000 1,250,000 0 0 Transportation DIF 1755 9114.00 231,709 231,709 0 0 0 0 0 Transportation DIF 175a 0.00 87,500 87.500 0 0 0 0 Transportation DIF 1757 0.00 43,750 43.750 0 0 0 0 Transportation DIF 1742 0.00 175,000 175,000 0 0 0 0 Transportation DIF 1079 0.00 0.00 0 0 0 1,823 0 0 0 0 0 Park DIF Park DIF 1694 13,110.00 0 111,535 0 0 0 0 Park DIF 0 0.00 0 0 0 0 0 0 0 0 Park DIF General Fund 0.00 0 0 0 0 0 0 0 Library DIF 1702 0.00 0 0 0 0 0 0 0 0 Library DIF Transfers Out 0.00 0.00 0 0 3,146,118 0 0 0 0 Civic Center DIF 0.00 69,353.00 89.353 0.00 0.00 0.00 0.00 SilverRock 873 0.00 0 (1,893) 0 0 0 0 Village APP 1728 0.00 0 220,920 0 0 0 0 rctc 1732 93,502.00 0 311.0" 0 0 0 0 rctc 1743 101,088.00 0 1,745,185 0 0 0 0 rctc General Fund 720 0.00 0.00 0 0.00 0 0 0 0.00 0 0.00 0 0.00 0 0.00 Fire Facility Library County DIF 1702 0.00 0.00 0 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 SCAQMD 1729 0.00 0.00 0.00 0.00 0 0 0.00 0.00 0.00 0.00 SCAQMD CIP RDA CIP1 -Taxable 1723 0.00 0.00 (4,594) 0.00 0.00 0.00 0.00 City Library Fund 1702 51,315.00 0.00 5W.373 0.00 0.00 0.00 0.00 Equipment replacement 1725 0.00 0.00 657,000 0.00 0.00 0.00 0.00 0.00 0.00 2004 Low Mod Bond Fund 1737 734,308.00 0.00 3,301,966 0.00 0.00 0.00 0.00 0.00 2004 Low Mod Bond Fund 1741 0.00 37,338.85 0.00 201,142.00 0 344,082 0.00 0.00 0.00 0.00 0.00 Indian Gaming 0.00 0.00 1 0.00 1 0.00 0.00 0.00 0.00 Development Agreement TOTAL OUTFLOWS 20.788,751 15,978,225 63,933,757 13,910,555 12,873,367 12,658,525 12,644,01, 0.00 0.00 O.Oo 0.00 0.00 0.00 0.00 WORKING DOCUMENT 470E 47 G 3` 7 09-Feb-06 3:02:51 PM GENERAL Fund 101 Beginning Fund Balance Reserve for Receivable from RDA 1 - Principal Reserve for Receivable from RDA 1 - Principal Reserve for Receivable from RDA 1 - Interest Reserve for Receivable from RDA 1 - Interest Reserve for Receivable from RDA 2 - Principal Reserve for Receivable from RDA 2 - Principal Reserve for Receivable from RDA 2 - Interest Reserve for Receivable from RDA 2 - Interest Reserve for Receivable from RDA 2 - Interest Reserve for Receivable RDA 1 - Repayment of Advances Reserve for Receivable RDA 2 - Repayment of Advances Reserve for Housing Reserve for RCTC Reserve for Advance to Civic Center DIF Reserve for Advance to Civic Center DIF Reserve for Advance to SilverRock Reserve for Civic Center Bonds Reserve for Capital Projects Reserve for Economic development Reserve for Economic development Reserve for Educational purposes Reserve for Deposits Reserve for Prepaids Additional Emergency Reserve Emergency Reserve 35% of Operations Expense Cash Flow Reserve 8.25% of Operations Expense Total Restricted/Reserve BEGINNING AVAILABLE Fund BALANCE INFLOWS Revenues Total Revenues (Per 5 Yr RAP& 1/05 Analysis) RCTC Grant Subtotal Transfers In Gas Tax COPS & SLESF Urban Forestry RCTC SCAQMD Quimby Federal Assistance Park DIF Indian Gaming Subtotal Transfers In TOTAL INFLOWS Page 1 of 2 - General Fund 2005-06 Five Year Cash Flow 1 2 3 4 5 2005-06 2005-06 2006-07 2007-08 2008-09 2009-10 Thru 12/31/05 (Original) (Adjusted) 63,914,985 63,914,985 63,914.985 62,047,011 61,332,160 60,263,846 58,651,224 10,004, 964 10,004, 964 10,004,964 - 1,995,036 4,334,126 3,242,932 4,334,126 _ - (4,334,126) 6,308,514 6,308,514 6,308,514 _ 3,691,486 5,763,758 5,280,866 5,763,758 - - (3,691,486) _ - (2,072,272) (3,125,078) (9,000,484) 0 - 12,000,000 (12,000,000) 0 1,100,000 1,564,535 0 2,100,000 2,100,000 0 0 5,900,000 689,601 688,406 689,601 102,086 204,173 204,173 (513) (896) 171 (351) 0 589,875 589,875 0 467,072 467,072 0 0 4,500,000 0 1,000,000 1,000,000 (250,000) (250,000) (250,000) (250,000) 0 0 0 507,931 507,931 507,931 0 4,000,000 4,000,000 4,000,000 3,644,093 11,067,577 11,617,039 56,161 590,659 705,055 737,902 858,965 2.608.786 2,738,302 13,238 139,227 166,191 173,934 36,214,038 49,171,096 57,752,966 (12,181,114) 478,990 621,417 661,485 27,700,947 14,743,889 6,162,019 74,798,195 60,853,170 59,642,429 57,989,739 11.502.990 27,706,343 1 27,971,773 ( 28,848,538 30,138,897 31,513,659 32,731,206 11 502,990 27.706.343 27,971,773 28 848 538 30,138,897 31,513,659 32,731,206 0 0 0 0 0 0 0 0 101,400 101,400 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 40,000 0 0 0 0 0 30,000 30,000 30,000 30,000 30,000 30,000 0 0 0 0 0 0 0 37,339 201,142 1 344,082 37,339 332,542 1 515,482 30,000 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Genovese, City Manager John Falconer, Finance Director Douglas Evans, Community Development Director Tim Jonasson, Public Works Director Tom Hartung, Building & Safety Director Debbie Powell, Management Analyst Terry Deeringer, Management Analyst Nick Nickerson, NAI Consulting, Inc. Frank J. Spevacek, Rosenow Spevacek Group, Inc. Andrea Castro, Rosenow Spevacek Group, Inc. In conjunction with the preparation of the 2005-06 Annual Management Review and the five-year cash flow analysis, the General Fund Build Out Analysis was developed to evaluate projected General Fund operating revenues and expenditures at build out. This analysis was undertaken to determine whether current land use and service level policies would result in positive or negative General Fund balances. This analysis represents a static review of General Fund revenues and expenditures. Key Assumptions The build out analysis utilizes the following assumptions: ■ This analysis encompasses three scenarios that are defined by the geographical area from which the City would obtain revenue and provide services: ■ Scenario 1: City Boundaries ■ Scenario 2: City Boundaries and Planning Area 1 ■ Scenario 3: City Boundaries, Planning Area 1, and Planning Area 2 ■ General Plan land use policies and Development Impact Fee projections provide the basis for calculating the anticipated number of residential units, office and commercial use building area, and the number of hotel rooms for each scenario. Applying these policies to each land use designation generated the following build out estimates: Base Year Scenario 1 Scenario 2 Scenario 3 Budget 20 Years 35 Years 45 Years 2005106 2025126 2040141 2050151 Population 36,145 85,940 119.497 189,406 Housing Units (DUs) 17.549 31,827 44,414 70,027 Office Commercial (Sq. Ft.) 722,600 1,546,000 1,546,000 2,412,070 General Commercial (Sq. Ft.) 2,500,000 3,062,000 5,226,329 10,355,083 Hotels (Rooms) 1,149 3,567 3,567 3,567 Golf Courses 21 24 25 1 25 ■ The analysis forecasts revenues and expenditures based on population and land use estimates.' ■ Revenue and expenditure forecasts were based upon a line -by-line analysis of the City of La Quinta's 2005-06 budget and assume proportional increases in current City service levels. ' Population estimates account for permanent residents and does not account for the influx of seasonal residents, which is estimated to be approximately 15,000 people annually. Therefore, the number of permanent residents may understate the actual service demands on the City. Actual arrival, departure, and duration of stay for seasonal residents are not accounted for in this analysis. CITY OF LA QUINTA 2005-06 ANNUAL FINANCIAL REVIEW r FEBRUARY 18, 2006 L' 1 ■ In the context of current revenue and expenditure levels, many non - administrative General Fund services will increase proportionally with population and development. Administrative services are less susceptible to changes in growth, therefore these costs increase at a lower rate than population and development. ■ All build out revenues and expenditures are adjusted for inflation. ■ This analysis represents a specific point in time and is formulated based on the best information available. The findings are intended to guide current and future City Council and City Staff discussions regarding the City's land use and service level policies. Important Findings The build out analysis projects the following total General Fund revenues and expenditures for each scenario: Base Year Scenario 1 Scenario 2 Scenario 3 Budget 20 Years 35 Years 45 Years 2005/06 2025/26 2040/41 2050/51 TOTAL REVENUE $ 32,099,969 $ 86,161,710 $ 206,632,060 $ 486,619,139 TOTAL EXPENDITURES $ 32,047,102 $ 116,229,610 $ 295,530,820 $ 697,176,376 $ 52,867 $ 30,067,899 $ 88,898,760 $ 210 557,238 REVENUE LESS EXPENDITURES Conservative assumptions were employed to estimate both revenues (lower growth factors were used) and expenditures (higher growth factors were used). Naturally, being more optimistic regarding the growth of existing revenue sources, introducing new revenues that could support specific services, and moderating the servicing of the projected population would impact the projected deficit. Key findings generated by this analysis include: ■ Revenue Resources. Under Scenario 1, property, transient occupancy, and sales tax account for 63 percent of General Fund revenue. In Scenario 2, they account for 71 percent and in Scenario 3, they account for 76 percent of the General Fund revenue. Base Year Budget 2005106 Scenario 1 2D Years 2025M Scenario 2 35 Years 2D041 Scenario 3 45 Years 205M $ Value %d General Rnd $ Value %d Cereal Fund $ Value `/°d General Find $ Value %d General Fund Property Tax $2,712,900 8°/ $ 5,334,390 6°/ $ 23,774,177 1E/ $ 49,107,061 10°/ Sales Tax $7,008,000 22°/ $22,750,660 26°/ $ 80,694,517F 39°/ $260,533,893 54°/ Trar�sien10oaQerxyTax $4,108,100 13% $26,979,989 310/ $ 42,033944 20°/ $ 56,490,106 12°/ ■ Revenue Growth Required. Examination of General Fund revenues indicates that the City must continue to aggressively capture its market share of hospitality and commercial/retail sales tax generating uses in order to, at minimum, achieve the projected transient occupancy and sales tax revenues. CITY OF LA QUINTA 2005-06 ANNUAL FINANCIAL REVIEW FEBRUARY 189 2006 ■ Majority of Service Costs account for 79 percent of account for 86 percent and General Fund expenditures. . Under Scenario 1, police, fire, and public works General Fund expenditures. In Scenario 2, they in Scenario 3, they account for 91 percent of the Base Year Budget 2005/06 Scenario 1 20 Years 2025126 Scenario 2 35 Years 2040/41 Scenario 3 45 Years MGM $ Value of Ueneralo I Fund Revenues $ Value of Generalo Fund Revenues $ Value eneral Fund Revenues $ Value %of General Fund Revenues Police 1 $ 7,988,288 1 25% $ 50,393,393 1 43 % $ 145,671,551 1 49% $ 376,100,979 54% Fire 1 $ 4,337,893 1 14 % $ 27,362,929 1 24 % $ 79,097,675 127% $ 204,217,726 1 291/6 Public Works 1 $ 6,548,018 1 20% $ 13,996,663 1 12 % $ 29,440,634 1 10% $ 53,227,452 18 ■ Future Police/Fire Staffing Levels. This analysis projects police and fire services on a per capita basis, based on 2005/06 service levels and standards. Population and inflation drive the increased service costs for police and fire services at build out under each scenario.2 Under these conditions, the findings suggest that as the City continues to grow the community should review the development standards and service levels it desires to determine if they can be financially supported in the long run. Therefore, the City will need to work with Police and Fire Departments to evaluate short- and long-term public safety staffing levels. , ■ Annexation Requests. Prior to considering annexation requests, the City should prepare a strategic plan to evaluate proposed land uses, infrastructure standards, existing substandard housing conditions and code enforcement impacts, animal control, parks and recreation, and public safety. The strategic plan is required because applying the current land use scenario and extending the City's infrastructure and service levels to new areas will create massive General Fund deficits. Thus a strategy is needed to implement measures that avoid these deficits. Further, the City must also be prepared to increase current staffing levels in order to effectively manage new development applications, plan checks, infrastructure, roadway maintenance, code enforcement and public safety needs. The land area that may be added to the City is equal to the land area that is currently in the City. ■ New Revenue Resources. Additional revenue sources or service fees should be explored to target income towards supporting any increased service levels and standards. Similarly, the community may need to adopt new sources of revenue and/or lower services costs in order to avoid General Fund operation deficits. ■ New Revenue Resources to Accommodate Planning Areas 1 and 2. For the protection of the City's General Fund the annexation of Planning Area 1 and 2 must be revenue neutral or revenue positive. Current revenue options for residential land use are severely limited. Therefore, the City will need to study commercial/retail/lodging land use opportunities if annexations in Planning Areas 1 and 2 are to be revenue neutral or positive. Without new revenue sources, expanding City services to these potential annexations will negatively affect the General Fund. 2 A per capital comparison of police and fire costs is presented in Attachment A. :- Pr+a 'A CITY OF LA QUINTA 2005-06 ANNUAL FINANCIAL REVIEW FEBRUARY 18, 2006 Exhibfts: Table 1: Land Use & Population Estimates Table 2A & 213: Revenue and Expenditure Projections Table 3: Property Tax & Document Transfer Tax Revenue Table 4: Transient Occupancy Tax (TOT) Table 5: Commercial/Retail Sales Tax Attachment A: Police & Fire Comparison Data Attachment B: Development Assumptions CITY OF LA QUINTA 2005-06 ANNUAL FINANCIAL REVIEW FEBRUARY 189 2006 T mlVGll Ala (o d � Q O C .0 m N C cc y ° n. d ca �+ r- N C N O N i +�+ Q 'cc C C O Q 0 0 m O U Q U � co cD I .r O 0 N (O ccc m y U C C N O 0 Cj cm N U d Q C a N N LO O 01 DD N p0 'IT cocotiO7 N T Cn N +-- It N(Y)Oco iD Oi ti N Itt t` (D I ti N to Cf) r Cfl^ t- '-t CID ( T CO T TT ++ r LL LL N N O C7 c) ct r` co to N O O r O N to ti 11 r LO to O 't co r• O> N O N L TT r r to I CO U. d N Cl)CS Q Q M N N N M r Ln M O CA to 00 N qr ►o N a)OO O f- MNL-T(L7(.Oef (� (p lq N .. 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Q o F- Q U O J r t- L' z (n t • Table 2A: Revenue and Expenditure Projections (With inflationary adjustments) City of La Quinta General Fund Build Out Analysis Scenario 1 Scenario 2 Scenario 3 Base Year 20 Years. 35 Years 45 Years 2005/06 2025/26 2040/41 2050/51 Budget Build Out Build Out Build Out Population 36,145 85,940 119,497 189,406 DwellingUnits 17,549 31,827 44,414 70,027 REVENUES TAXES $ 15,543,000 $ 60,862,623 $ 161,831,391 $ 403,418,225 Property Tax 2,712,900 5,334,380 23,774,177 49,107,061 Document Transfer Tax 797,800 553,848 1,218,081 2,5531762 Sales Tax 7,008,000 22,750,660 80,694,517 260,533,893 Transient Occupancy Tax 4,108,100 26,979,989 42,033,944 56,490,106 Franchise Tax 916,200 5,243,746 14,110,672 34,733,402 LICENSES AND FEES $ 2,655,800 $ 1,728,287 $ 3,222,181 $ 5,906,338. Business License 274,100 605,200 1,174,342 95,592 1,964,351 184,698 Animal License 14,800 706,300 51,081 42,695 61,782 114,422 Development Permits 54,000 3,264 4,724 8,748 Miscellaneous Permits General Government Fees 13,200 51,081 95,592 184,698 Community Service Fees 252,600 893,916 1,672,866 117,283 3,232,209 217,212 Departmental Fees 1,340,800 81,050 INTERGOVERNMENTAL $ 6,504,843 $ 15,182,124 $ 27,232,163 $ 49,406,169 Motor Vehicle In -Lieu 1,726,200 7,419,382 16,072,660 34,237,082 2,170,198 Fines and Forefeitures 168,600 600,201 319,256 1,123,210 597,452 1,154,361 AB 939 (Recycling Fees) CSA 152 (Street Sweeping) 89,350 174,200 384,625 746,335 1,248,413 Other 4,346,493 6,458,660 8,692,506 10,596,116 OTHER REVENUE $ 2,752,700 $ 4,432,770 $ 6,133,898 $ 14,466,174 Interest (Allocated/Non Allocated) 2,747,400 4,420,000 6,110,000 14,420,000 46,174 Miscellaneous Revenue 5,300 12,770 23,898 SUBTOTAL REVENUES $ 27,456,343 $ 82,205,804 $ 198,419,633 $ 473,196,907 REIMBURSEMENTS $ 4,061,084 $ 3,955,906 $ 8,212,427 $ 13,422,232 Gas Tax 583,800 766,151 3,871,489 7,480,256 Redevelopment Agency 1,373,700 213,606 - 317,407 427,188 - 520,740 Capital Improvement Program 204,173 303,390 408,323 497,744 Civic Center Landscaping & Lighting' 842,200 1,315,405 1,818,309 2,866,905 Library 843,605 1,253,553 1,687,117 2,056,586 TRANSFERS IN TOTAL REVENUE $ 32,099,969 $ 86,161,710 $ 206,632,060 $ 486,619,139 ' Scenario 1 estimates derived from Lighting and Landscape Maintenance District Build Out Analysis. 5cenano z is 3 revenue e5umdies uenvcu Ur aNN,r,,,a aaaoaa^ c^• •� r. number of DUs and increasing revenue by 15% and expenditures by 25% at build out. Notes: See attachment B for inflationary factors. Changes in seasonal population may affect revenue and expenditure projections. Analysis represents a specific pant in time and is formulated based on the best information available. Source: La Quinta Fiscal Year 2005-06 Budget; La Quinta General Plan; Lighting & Landscape Maintenance District Build Out Analysis r Rev. & Exp. Projections, General Fund Build Out Analysis Table 2A and 2B 2/18/2006 Table 213: Revenue and Expenditure Projections (continued) (With inflationary adjustments) Base Year 2005/06 Budget Scenario 1 20 Years 2025/26 Build Out Scenario 2 35 Yearn 2040/41 Build Out Scenario 3 45 Years 2050/51 Build Out % Population 36,145 85,940 119,497 189,406 Dwelling Units 17,549 31,827 44,414 70,027 EXPENDITURES GENERAL GOVERNMENT $ 3,917,998 $ 7,941,691 $ 12,372,896 2,194,540 $ 16,628,138 2,949,278 Legislative 779,903 1,027,318 1,408,592 1,855,451 2,890,732 3,884,901 City Manager Economic Development 1,139,368 2,572,282 4,007,531 5,385,787 4,408,171 Personnel/Risk Management 971,409 2,105,367 3,280,094 CITY CLERK $ 530,379 $ 1,211,597 $ 2,152,018 $ 941,495 3,632,362 2,005,519 Services & Supplies 100,179 430,200 434,608 776,989 1,210,524 1,626,843 All Other FINANCE $ 1,132,220 $ 2,065,176 $ 3,217,477 $ 4,324,020 Fiscal Services -Services &Supplies 112,178 222,867 347,219 1,100,338 466.633 624 Fiscal Services - All Other 629,000 1,136,044 706,265 1,100,338 1,478,763 1,478,763 Central Services 391,042 COMMUNITY SERVICES DEPARTMENT $ 2,284,568 $ 4,794,888 $ 7,857,421 $ 11,643,624 3,825,694 Parks & Recreation Admin 919,692 1,827,173 636,391 2,846,675 1,378,617 2,936,653 Parks & Recreation Programs 148,610 372,661 807,681 1,258,340 1,691,104 Senior Center 843,605 1,523,644 2,373,788 3,190,173 Library POLICE' $ 7,988,288 $ 50,393,393 $ 145,671,551 $ 376,100,979 FIRE 2 $ 4,337,893 $ 27,362,929 $ 79,097,675 $ 204,217,726 BUILDING & SAFETY $ 3,408,460 $ 6,995,260 $ 13,428,103 $ 24,261,417 1,297,394 Administration 343,081 660,374 619,642 2,840,475 965,383 6,153,341 13,107,502 Code Compliance 395,986 1,062,699 2,387,054 4,402,074 Animal Control 951,179 69,886 117,066 239,029 Building Civic Center Building 1,024,190 2,312,251 3,602,412 4,841,341 374,078 Emergency Services 33,650 90,306 202,847 COMMUNITY DEVELOPMENT $ 1,473,824 $ 1,468,012 $ 2,293,045 $ 3,140,658 2,967,501 Administration 784,772 1,417,386 50,627 2,208,240 84,805 173,157 Planning 689,052 PUBLIC WORKS $ 6,548,018 $ 13,996,663 $ 29,440,634 $ 888,770 53,227,452 1,194,432 Administration 315,854 1,041,863 570,467 2,796,026 6,280,484 11,582,121 Engineering/Traffic Q4-4- \A-*.-*- -1. 1.723.353 4,624,926 10,388,593 19,158,069 Landscape & Light Maintenance3 1,831,880 1,617,245 Park Maintenance 973,651 2,612,967 Construciton Maintenance 661,417 1,775,031 2,026,389 3,116,202 5,869,293 10,823,826 3,987,106 7,352,802 TOTAL EXPENDITURES $ 32,047,102 $ 116,229,610 $ 295,530,820 $ 697,176,376 REVENUE LESS EXPENDITURES $ 52,867 $ (30,067,899) $ (88,898,760) $ (210,55 1 7,238) ' For additional analysis see attachment A 2 For additional analysis see attachment A 3 Scenario 1 estimates derived from Lighting and Landscape Maintenance District Build Out Analysis. Scenario 2 & 3 revenue estimates derived by applying assessment fee to projected number of DUs and increasing revenue by 15% and expenditures by 25% at build out. Notes: See attachment B for inflationary factors. Changes in seasonal population may affect revenue and expenditure projections. Analysis represents a specific point in time and is formulated based on the best information available. Source: La Quinta Fiscal Year 2005-06 Budget; La Quinta General Plan; Lighting & Landscape Maintenance District Build Out Analysis Rev. & Exp. Projections, General Fund Build Out Analysis Table 2A and 213 2/18/2006 Table 3: Property Tax & Document Transfer Tax Revenue (With inflationary adjustments) City of La Quinta General Fund Build Out Analysis Scenario 1 Scenario 2 Scenario 3 Base Year 20 Years 35 Years 45 Years 200/-06 2025/26 2040/41 2050/51 LAND USE CATEGORY Budget Build Out Build Out Build Out RESIDENTIAL SINGLE FAMILY DETACHED $ 17,473,078,651 $ 38,104,223,726 $ 81,081,474,711 AV/Unit $ 380,000 686,322 1,069,268 1,437,006 Units 25,459 35,636 56,424 SINGLE FAMILY ATTACHED 2,381,899,496 5,745,729,167 10,455,200,226 AV/Unit $ 300,000 541,833 844,159 1,134,479 Units 4,396 6,806 9,216 MULTIFAMILY AND OTHER $ 284,932,108 $ 443,914,941 $ 1,327,400,646 AV/Unit $ 80,000 144,489 225,109 302,528 Units 1,972 1,972 4,388 SUBTOTAL $ 20,139,910,256 $ 44,293,867,834 $ 92,864,075,583 COMMERCIAL OFFICE $ 159,158,134 $ 247,963,187 $ 519,923,938 AV/Sq. Ft. $ 57.00 102.95 160.39 215.55 Sq. Ft. 1,546,000 1,546,000 2,412,070 GENERAL COMMERCIAL $ 176,970,003 $ 470,597,452 $ 1,253,079,666 AV/Sq. Ft. $ 32.00 57.80 90.04 121.01 Sq. Ft. 3,062,000 5,226,329 10,355,083 TOURIST COMMERCIAL $ 814,963,445 $ 1,269,686,493 $ 1,706,352,474 AV/Room $ 126,500 228,473 355,954 478,372 Rooms 3,567 3,567 3,567 SUBTOTAL $ 1,151,091,582 $ 1,988,247,132 $ 3,479,356,079 OTHER INDUSTRIAL AV/Sq. Ft. $ 30.00 Sq. Ft. $ 168,971,850 5,632,395 GOLF COURSES $ 780,240,053 $ 1,266,238,104 $ 1,701,718,129 AV/Course $ 18,000,000 32,510,002 50,649,524 68,068,725 Courses 24 25 25 SUBTOTAL $ 780,240,053 $ 1,266,238,104 $ 1,870,689,979 TOTAL ASSESSED VALUE 7,504,222,243 47,548,353,070 98,214,121,6410 City of La Quinta Property Tax Factor 0.0005 Apportionment of Property Tax $ 5,334,380 $ 23,774,177 $ 49,107,061 DOCUMENT TRANSFER TAX Assessed Value of Property Transferred Annually t 1,006,995,513 2,214,693,392 4,643,203,779 Total Property Transfer Tax $ 553,848 $ 1,218,081 $ 2,553,762 ' Assumes turnover rate of 5%. City receives $0.55 per $1,000 of market value for transferred properties. Notes: Assessed. values are inflated by 3%annually. Under Scenario 1, City Redevelopment Project Areas 1 & 2 are assumed to be active at the time of buildout. Therefore, the City's apportionment of property tax is significantly reduced. See Table 1 for footnotes on residential units and commerical square footage. See Table 4 for footnotes on tourist commercial. Source: MetroScan; La Quinta Comprehensive General Plan; La Quinta Development Impact Fee Study; La Quinta Community Development Department p..1 V— �� r V Property & Doc. TransferTax, General Fund Build Out Analysis 2/18/2006 Table 3 C i r N d O C } L V * N Cl) N O i c cc Co 4 C > v Lo N M N r- O i .cc d U) C i' N NO N N r O Or-mollrnor-001-0 0 r-ti'"O"Or-OOMON O T r CC O N_ L Cr c0 N_ N r M r r M N U)W u,) h r W N Lor O LnLOvrnrrnTLOrnNLO0) rn It 0 0 co O It O M r` M CO Wt CO N T T r N O N r- cd T N Ui 69 cp N CO N M 0 N O LO O r (O � c0 �t r O N T W O N t- It j M In O co cp N T T T� Ct N CA Q OOO�tO)lnOOr t�N� C9 r- O O M T T T T It CO T T N r T Ct O E- LO M W 0 0 0 O M c7 c0 M r N 00 (R ( cl� CO to r N r 0 N N 0 r- N* N 0 CC O CA h lq r to O M r Cfl CO r CA CV r m O H T T yv v N �Ii W N T r T T T N T T O r M� W O O O O O O O O O O O OI r O O T r O O T- 0 0 0 O T r r T T T T r T r r T //ca� r O F- O O O O O O O O O O O O LO 0 O O N O 0 In LO In LO O C ca D. U 8 N O O O O O O O O O 0.0 O O 000000000000 +• to O O O N to U) to L6 ui to O co 0 0 0 L r N � r-�� r- N a: N T T T T T T T T T T T 6 Q 69 69 69 69 69 fA 69 69 69 69 69 69 r r 0 0�� O O Nit O O O CO M r O O a: 11 C O rn c `°a 0o _� (� N � 0 W N E C am? E 0 N EL = c cA E- ED Y (� can a O� T N CD �O j � > C coL N N a: co> T O v OMM-tf-1Uwwa ain�U10 E`-O o � o � O G 2 O C m � G O a m w - cc I- T Z C.i cc c N N p 4 - L - Q F V C O i m (� � N O C i r d (1 t C C ro acc o C'' T � O C N � i C y � m fa N c 4 � t C � U � m c i a' 0 o N l7 Table 5: Commercial/Retail Sales Tax (With inflationary adjustments) City of La Quinta General Fund Build Out Analysis Scenario 1 Scenario 2 Scenario 3 Base Year 20 Years 35 Years 45 Years 2005/06 2025/26 2040/41 2050/51 Budget Build Out Build Out Build Out Existing Retail SF' 2,500,000 3,062,000 5,226,329 10,355,083 Taxable Sales/SF $280 $743 $1,544 $2,516 Sales Tax Revenues 2 $ 7,008,000 $ 22,750,660 $ 80,694,517 $ 260,533,893 ' General commercial square footage accounts for approximately 30% FAR of an estimated 9,500,000 total lot square footage derived from Metroscan download of commercial 2 City receives 1 % of all taxable sales Notes: Taxable sales are inflated by 5% annually. Source: MetroScan; La Quinta Fiscal Year 2005-06 Budget; La Quinta Community Development Department t Sales Tax, General Fund Build Out Analysis Table 5 2/18/2006 MNI-r'IMf-U)(D M M(DM to M CO) N (p .. mMM oON o O Lo Lo O O O m f_� W T .. r O �t O Lo U) CLT r L j T r r r N 1p T T N r O W O co U N 4) N d m a 69 69 69 69 69 69 69 69 69 69 69 69 fA O to O r (D N M r Lo co N CM 0— CO Cl) r T Lp O O co Ln r Co Lo M W (D M M r (D (D M O U) T« (D M N O) L O W M T T O r `" N a a 69 tH 69 to to fo 69 69 69 69 69 69 ffl NI-MN(DODI LOM N M N Lo Lo M r- O T M r r N Cl) qT Lo � — Cl) CY11 ` M Iq Lo 0 et r N W � I r to N CL 55 W s U N U G 4) N N d fi fZ 69 69 69 69 69 69 69 69 69 to 69 fo i19 rOONNONqTtf) N Lo (D (D r N Lo M N Mnd. r CO N O) (D W (p T 69 69 Lo r T r r N 9 69 EA 69 6Efl 69 69 W T r N LEA Lp W p U pU N d N f 69 f& 69 40 ONON(DMOqtO r- N O) tt r M 0 (D O LOGO m 00 co N r f.. r CO 'V M CO OD (D O CO O CO r !f N r Lo Cl) 01 M 00 O O r O Lo r OODD Lo � co Cl)MV Ln N p O M f_ (D CO M N M 00 p 646969�dr969N cq6a S co- N 3 N m N (N N to 69 Efl ff! IT N �T O co (D LO N Co MOf`M(DODlt00 to LO co N (DNO m (D W �= LoLoM f- I,-M (Dr I,- 6r r 9 Er r N M N 9 EA 69 669 9 E9 tii 69 69 r Ln N f- O N N C7 (D N W W U N Na a 69 69 (A ts� M N O O N M qt qt O �NLOMMrNEW W ON M MI- 'R Ln m Cc •' MMrNON(D to 69 6 9 M (D OD to r N r r T' T fo to H9 fo (fl t H9 EA T T T r a W O W a V vU N 0) N N a a Ito 40 r M co r r O r (D CO f- CLoONODwrM W M 0 0 w 0 OD W (D = vvinrLOLofl.0rn 69 69 69 fo 6949 69 tf3 to �+ — (D CO co ti N �W N W «.N V NV N N d f0 69 69 69 fA W t` I�Mto(NN��O I-(DOr rr0tlrN0) 0 W �j NCOM N (p cc 69 EH to to to 69 69 EA 69cl (p o S U Ln � cm N a. a 69 69 69 tI! MMT 0stMM1-0 MMOD�tODODMM,* M (D M t\ N Ln O M (DOO 0p 0� m ., r "t— N C O CC) M CD M N d_ 0 M O O ti 'p q r M tD r W Ln S69 69 69 69 r 69 r r to O O m 69 69 69 N m Lo Rr to 69 69 f!! N"Tw oovot(�OOD (MD r- co mr T (h N Lo C ODMO N r,-O Ilet� Co) O p N M O Ln F Lp O O M s! (D (D N " Ln LO CM T CD cl) (=I a W �f Opt Oi T T T r a° a° Lv (n U ol i W >• CL p) W 0) > to r rn �_ H m Q U M 0 0 ca U U O C F- m a -0L r C!'In 0 �0a) W s m o p E E c = c -E Im W (o .m io O a) v O '@ m (o (J°dtL¢ H U) 7 c co o UU0 C c O 0 C m � m io c c f c c LD L C D m 'Df La g O co C f m o ca - m m 't ! U m LL 0 a (n i Attachment B: Development Assumptions City of La Quinta General Fund Build Out Analysis Development Assumptions • The Study Area considered in this analysis includes three scenarios: (see attached map for physical boundaries) o Scenario 1: City Boundaries o Scenario 2: City Boundaries and Planning Area 1 o Scenario 3: City Boundaries, Planning Area 1, and Planning Area 2 • The Study Area under each scenario is assumed to be built out as follows: o Scenario 1 is assumed to build out in the next 20 years. o Scenario 2 is assumed to build out in the next 35 years. o Scenario 3 is assumed to build out in the next 45 years. Build out under each scenario is assumed to be at the maximum capacity for each land use. Figures for Scenario 1 were derived from City of La Quinta Development Impact Fee Study (adopted June, 2005). Figures for Scenario 2 & 3 were derived by combining Development Impact Fee projections and City of La Quinta General Plan (adopted March, 2002) land use designations and projections. Population estimates are based on factors of 2.1 persons/dwelling unit ("DU") for single family residences and 2.75 persons/DU for multi-family/other residence. Factors were obtained from the United States Census Bureau and the California Department of Finance.' • This analysis represents a specific point in time and is formulated based on the best information available. Revenues • Property tax revenues (i.e. assessed valuation of properties) are estimated to grow at a rate of 3.0% annually. For the purpose of estimating property tax revenues, under Scenario 1, it is assumed that the City of La Quinta Redevelopment Project Areas 1 and 2 will be active at build out. Under Scenario 2 and Scenario 3, it is assumed that the City of La Quinta Redevelopment Project Areas 1 and 2 and the Riverside County Redevelopment Project Area will be inactive at build out. • Document transfer tax revenues are based on a 5.0% annual turnover rate of residential units. These revenues are inflated at 3.0% annually. 1 Population estimates account for permanent residents and does not account for the influx of seasonal residents, which is estimated to be approximately 15,000 people annually. The number of permanent residents may understate the actual service demands on the City. Actual arrival, departure, and duration of stay for seasonal residents can not be accounted for at this time. Development Assumptions, General Fund Build Out Analysis 2/18/2006 ,.) Attachment B C; 8 •:. Attachment B: Development Assumptions • Sales tax revenues are based on a current estimate of total retail square footage. .These revenues are inflated by 5.0% annually. • Transient Occupancy Tax ("TOT') revenues are based on the total number of hotel rooms under each scenario. Revenues are inflated 3.0% annually. • Most other revenues are calculated on a per capita basis (i.e. increase in revenues is proportional to the increase in population) based on figures derived from the City of La Quinta 2005-2006 Budget. Exceptions to this are the revenues from business licenses and street sweeping, which increase as the City builds out. • Revenues from development permits, miscellaneous permits and departmental fees increase based on annual new construction. • Revenues are inflated by 2.0% annually, with the exception of Motor Vehicle License Fees and Public Works fees which are inflated by 3.0% annually, and Franchise Tax which is inflated by 4.5% annually. Expenditures • Expenditures are calculated on a per capita basis based on figures derived from the City of La Quinta 2005-06 Budget. Exceptions to this are revenues from Public Works (except administration), emergency services, and animal control expenditures that increase as the city builds out. • Building and planning expenditures are based on annual new construction. • Expenditures are inflated by 3.0% annually, with the exception of police and fire services which are inflated 5.0% annually. Development Assumptions, General Fund Build Out Analysis 2/18/2006 Attachment B f 1. 3 ATTACHMENT 2 Ul O --n D nr cn= mr • a� r o3 ° 30 -�ao �p p S. o 5. ° c c ov ,•+ Tn o 'c D ? O ° `n� c 0 ° a •ate o — CD �3 om r° o cn 0• � m c a ° — �. -a _ 3 cn°, CL a a r+ vai ch o — v o o < 0 ,.+ o ,_� o .� m O m �. my �• 3 vCD -v Q (D • n 3 D n ° v O O < �• a 3 o c O a a- n a- n a- n CL a- 0 Cc D y Cfl y CDO. to N CD CC N CD W C a: = _q C8: = IN Q. = - = CD fl. CD Q. CD fl. CD CQ N O. 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O 0 0 cD m3 a 0 0 �, 0 0 r+ M .0 r+ o O c. a aCD r+ cn -Of, O N' c� P+ CD r+ -f+ M CD cn 3 < Ch CD' o 'O CD 0 rm+ O 'C 3 p � cD y 20 0 O c O < N F O N r+ P+ O CD O' < % . Cc c• cc (fl' M r+ O O O 0 p �, r+ 3 3 CD r+cn m�' 3ocn �°O�" ° a• c. _ n c 3n3c �D O ° C '+ cn .� N m m c. 0 -e P+ m o r+ 3• Cc m cn w r.Nv D c� D cn 70 CL L7 ,< 0 CA cm CD x °o m o D cn cn a+ r+• D CIn CD�' 0) N n � o o CD Ch CA cc C X v < 0 �(D o —o -0 :3 o 3 3. 3 0 v O < .a. gy m' � 3 -� CL = o = o n a 0 cm CD cm co CD Cc cl) CD Ca Ca c m CL CD CL _ CD CL = (D Cl) Cl)� cl) n o � �'n �� 00 0 00 o �' o -� CD CL O c acD�•�QQCD m 0� m c; 0. D cpP=03 n �� c ,{ a W. .o0. �, c N 1 �' r+ o 0 0 m o m C0 `�o�o' A. �o=-�� cn < O CD o o = -h r+ Ci o F. o � � CL � CDo ,�—♦ cc vViO 0o v�� ccn p 'a -n CA N m o cal cD (Qr1 ATTACHMENT 3 2005-2006 ANNUAL FINANCIAL MANAGEMENT REVIEW February 18, 2006 EXECUTIVE SUMMARY • A strategic planning process that entails: - Annual Financial Management Review - 5-Year Capital Improvement Program - Annual Economic Development Plan - Five -Year Resource Allocation Plan - Annual City/Agency Budget • This document presents: - Financial achievements for the past fiscal year - Five-year cash flow projections - Strategies and recommendations FINANCIAL ACHIEVEMENTS — General Food During the past 12 months - Increased General Fund Operating and Emergency Reserves - Implemented new infrastructure and public facilities improvement projects - Constructed the Phase 1 golf course at SilverRock Resort - Invested in economic development initiatives to generate new sales and transient occupancy tax revenues Specific achievements include: - General Fund operating surplus of $9.2 million for Fiscal Year 2004-2005 - General Fund Emergency Reserves of $11.6 million - Cash Flow Reserves of $2.7 million - The General Fund also contained • Additional $10.7 million set -aside for operations, projects and transfers • $1,000,000 reserve for educational purposes • $590,000 for capital improvements • $467,000 for economic development • $1,000,000 for carryover encumbrances FINANCIAL ACHIEVEMENTS - CIP • Capital Improvement Program (CIP) with scheduled investments of: - $24.9 million (FY 2005-06) and anticipated - $111752,186 (FY 2006-07) • Development Impact Fee (DIF) Study Update adopted in June 2005 - Scheduled to be reviewed and updated annually (March or April 2006) G "i I-) FINANCIAL ACHIEVEMENTS - Silverilock • Construction completed & refinements made to the Arnold Palmer Classic Course at SilverRock Resort - Opened in March 2005 - "One of the top ten new public courses in the country" ( Golf magazine) - Rounds and revenues increased in fall quarter as all facilities, including the full kitchen and bar, came on line FINANCIAL ACHIEVEMENTS ECONOMIC UOVOIOPMONt • Retail base expansion - 463,335 sf of new retail building area approved - 234,000 sf of new retail building area proposed - Critical mass projects include: • Sam's Club • Costco/Komar Center • Best Buy • Office Max • Drexel Heritage • Trader Joe's • Petco - Building permits issued for 226,068 sf of new retail/commercial uses FINANCIAL ACHIEVEMENTS ECONOMIC Development • Boost to City's employment base by expanding medical and non -medical office uses - 235,600 sf of medical and non -medical office use approved along the Washington Street corridor (Eisenhower Medical Center and 7FK proposals being considered) • The Village at La Quinta - Construction underway on 58,500 sf expansion of Old Town - City's upgraded 106 space parking lot - City has approved or received development applications for an additional 60,000 sf of commercial/office use, as well as mixed use/residential projects - Village Parking Development Strategy authorized by Council FINANCIAL ACHIEVEMENTS ECONOMIC GOV01011MORt • Expansion of the City's lodging industry - Homewood Suites and adjacent resort caritas - Embassy Suites (forthcoming) - Additional resort caritas projects l t FINDINGS • ERAF shift of $3 million to expire in June 2006, but State officials have discussed making the payments permanent - Staff has continued to allocate $3 million to the State - If shift doesn't occur, one time revenue could be budgeted for one-time projects FINDINGS • Police service costs continue to increase: - Escalating costs - Increasing service demands - Expanding City population - Reflected in FY 2006-07 operating budget proposal • Shortfalls exist in the fire operating budget: - Currently funded through Fire Tax Credit (projected to be depleted by FY 2009-10) - General Fund will be required to subsidize fire operations after FY 2009-10 r �� FINDINGS • Carry over of $61,031,977 in CIP projects, including expansion of the Civic Center - Existing facility is over capacity for growth of community - Service levels and developer response times require increases in staff in the Community Development, Public Works and Building and Safety Departments - DIF update will propose increasing cost of expanding City Hall by updating construction costs in order for new development to better share in their burden on city services FINDINGS • Bonding capacity of the Agency - $37,000,000 in non -housing bonds • PA No. 1 = $32,000,000 • PA No. 2 = $5,000,000 - $46,000,000 in housing fund bonds • Agency's total outstanding bond debt - $240,515,000 • $150,515,000 of non -housing bonds • $90,000,000 in housing bonds FINDINGS • General Fund Operating Costs - Economic development efforts must be maintained, if not increased, in order to increase sales tax and TOT revenue base - Must continue attracting amenities and projects that secure additional resort, hospitality and retail uses • Redevelopment Projects: - Invest in General Fund revenue generating economic development initiatives - Agency will commence interest payments totaling $2,020,000 on outstanding General Fund loans during the coming fiscal years RECOMMENDATIONS • Continue to focus on measures that address the projected decline of available fund balance in the General Fund by: - Expand sales tax and TOT revenue base - Conclude SilverRock DDA - Continue to Generate Cost Savings - Continue Affordable Housing Land Acquisition RECOMMENDATIONS - Coordinate Police and Fire Department staffing levels - Facilitate Auto Dealer Expansion - Evaluate alternative revenue enhancements and/or service level cuts - Prepare and implement Golf Cart Plan RECOMMENDATIONS • RDA General Fund Loan Principal and Interest Payments - $31.5 million in General Fund loans to RDA as of 6/ 30/05 • Restructure outstanding loans as of 4/1/06 - Results in a new loan of $22 million - General Fund adds $12.1 million to unreserved fund balance - Interest generated from the $22 million loans at a rate of 7% - 10% » Results in $2,020,000 to General Fund annually Principal reduction also results in future reduction of interest earnings to the General Fund TRANSPORTATION.. .... -.......:Thtu .. ;2006-Od 1J31K-..lUr. nN. .. vs eBl..a Ow . 1 2 ... 3 4 _ b_ 2006-06 2J09-07 2007-08 2W8B49 20J9-10 .. iAdh!ot�d)...............................:..............:............. 13.9kfnin9 Farad 8.$— :7,203,437 : 7.203.437 7.203.437 1.14231E 1,034,219 2.171.819 3.364,019 ... -:.. . ............ ......... ................. .. .... ..... .. .. :Ad—., hom RO,A1 :. .-..... 0.... ... 0 .....U---.... ...--.. - .-. .. .. 0.....-.. ...0 0 O 6E6MWINc AVAILABLE Pan1d BALalKE � � � � - - - -:�7.203,437 : 7,2203.4?7 7,203A37 1,142,319 i,O34 219 2.171,8/9 INFLOWS h. kevonu•a - - -T nsparnki— - - - .... _- -- -. Inter•at : Total R•v .. :1,ER1,E72 1,000.200 � 42.013 80 I.E63., 05 16� 0 .162.500. 1,OE0,20U 165.000 1.^.61.300 - " 1,U38, 00 _.1.(ffi6,2J0- 1.OP6,200 - 1 OP620J. 46,700 _ 41 4C0 _ y _ 38.fl00 �_ 134 2� 00 1141,000 1.137699 1183.100._ 1,2"0.400 -Tranaf ^.fn �Inlratiructlae Pak �TOTAL I/JFlOWO -� ..... .. .-. .. --. ; 1.6G3.705 � 1.102,600 1.261,200 1.141.900 1.137.000 1,153.100 1,230,400 - ...°ten ----- o .carmw.reon � 1710 'Phan• 2 - .lefferaon !Y � � � � - - � � � � � � � � � � � � � O o...- 1.?81,950 : 3,269.019 o 3,778.09E o 1723 Sh-wRack Ranch - 1 72f3 ;S.—h— Drrvv. Hndg• - :. 117.4U9 O, 117.400 1743 :R.V 111 hnprs-m—A (AJ•aw Jefhrraenl . . 1744 : Trofnc:_+igwl Wea.lwrd Ho80une F-.ka.a Rnd..... -. 29,855 1110, 191) 0 --Ief`m3.2-t0x ...-... .... ...-....-. .............-..... . ....-........... ... -. .... 1.74 TaMc 4,al' Jeffrnw O .:-. 1733 Wahington St IA-11 - Pee 2 _ 1754, ;Ave 52 Woo Irnprov (;,panning, Ma qll Anurican',and). 86 .:. 1 437 ..:. . , 50, 000 1,639.962 250,000 1 <>0 000. .. . . .. . . . . .. . ....... ..... . . . .:... 1766 :Jefferson St A",Nan Inland Lrldscaping ( Hwy III to No. City U.,*,: 92r4 231.709 231,709 1 767 TraMc ::IgnN Ave 60 and Cl-h—i - - ... 43 760 45.760 .... - 1742 : Trek W Signal - sshkp6ton St 3i4on Or. � _: _ _ : : f 75.000 t i 6.000 Toth Tr4naf•ro GIP ._.. _._: _'I__ 418 4,057.57E 7.32231E-------------- 0------ _------ 0______ Trmafer to Pnk DIF .................. .......... ...... ....... .. ... ...... ....--. --:TMat 7renafers -TOTAL OUTFLOWg - :AVAILABLE Fmd BALANCE . .:Raseicnd /R•sefv Fvnda ..... .... .... . ........ ... .............:.....�_ NOWQ Fund BALANCE-1i.898.725 .. - .. 2188,419 : 4,067.578 • 2.t 0a.418 4,OF7.678 -. 7,3_2318 T.32� 31E .. ..:.. ..... ....- ..-. .. _... -- O .-- 1,2r50,000 ) 0 1.:60,ODU O O 0 ;8.69R.7^3 4.'J08.36R � ..--_ Q : 5.308.550 1.14'.319 ..""_Q 1,14 319 1.U34.2/5 "L 171.819 3,SE4.b10 4.635.319 -....� "-___...., _,-a- ... -_,. d. __ :.. --..."- f 034,21E 2171,819 3.-•54.919 4.5E6,319 COST PROJECTION ASSUMPTIONS Scenario 1 Scenario 2 Scenario 3 City Boundaries City Boundaries + PA 1 City Boundaries + PA 2 $0 ........."...-:,:: ;: ;::;: .................. . .......... -$50,000,000 __........_ ...►.....1.......................... ................_ ::::::::: .:::.:. :...,. . 00 000 000 ........................................................ 1 rr 88 &� ...........:...::.::.::.:.::.::.::.:.:..:.::.:..:::..:.:......... ..::..............:...........::.':..:.::.::..........:.::..:..:.::..:.:..::..::.::::. >:: 2035 : > s: `:: : >: >:::: -$150,000,000 00 000 000 2 1 :.:.:.:........::.., .. - ...:.:.::..: ,..::.,.:.::..::...: ,..::.:,:.:...::.,..,.....:.:.:..:.:....•:.:..:.:..:.:.: . ..d . g : - ...... :2045 4250,000,000 ..... .. .. I \ r" t,. U ATTACHMENT 4 Outline for City Council Workshop City Council Goals and Annual Financial Management Review I. Orientation by City staff regarding purpose of the meeting (5 minutes) II. Public Comment Period regarding City Goals III. Presentation of the Annual Financial Management Review by staff A) City Manager (12 minutes) Executive Summary Financial Achievements Findings Recommendations B) Finance Director (5 minutes) Five Year Analysis Interest Advances Reserves C) Economic Development Consultant (7 minutes) General Fund Build -Out Analysis Scenario I Scenario II Scenario III IV. Question and Answer Period regarding Annual Financial Management Review V. Discussion of City Council Goals VI. Adjournment of Meeting Kay Wolff P.O. Box 1016 La Quinta, CA 92253 February 17, 2006 RECEIVED Honorable Council Members. City of La Quinta: 2006 FEB 17 Ail 1► 31 CITY OF LA QUINTA I will be out of town during the community meeting on FebCLktisy( FW'S aMF4grding you my list of goals and priorities. Thanks for `listening" again. The City should focus on how to manage problems of water, power, traffic, policing, code enforcement, and future natural disasters (earthquakes?). The business of the City is to offer the best services and amenities possible for its citizens. To that end, I offer the following thoughts: 1. Support the Multiple Species Habitat Plan and all measures that protect the mountains, indigenous species, agricultural, and equestrian areas. Preserve some date groves, for example, as public parks. 2. Maintain current municipal boundaries with little or no annexation. Most of us moved the Valley to escape life in a big city, and citizens don't need the drain on our reserves to bring outlying areas up to code. Concentrate on '"in -fill" attract high quality business that will conform to our standards of visual and business quality. We don't have to give concessions to any developers any more. They should meet OUR demands! 3. Expand public services and public spaces: open space, parks, as well as preserves for desert, native American, agriculture, and equestrian areas. We have plenty of golf courses. Let's diversify. We need a vision that will make La Quinta unique in the Valley and make us a destination city, not just another urban sprawl dotted with discount stores. 4. Please prohibit developers from constructing berms and/or walls that obstruct views of the mountains and hillsides. Berms such as Hideaway do much more than to hide rooftops, and they are an affront to the public. 5. Continue to concentrate commercial activities in the Hwy 111 corridor and the Village. Restrict commercial development to the main corridors such as Washington, Adams and Jefferson. Let us have a beautiful approach to our city. If there is commercial, conceal the businesses with (low) berms and landscaping. 6. Seek every opportunity to slow our growth by giving priority and incentives to low density development. The only way to control traffic is to control the number of business that attract people, the number of residents in the city, and having jobs that can keep employment close. A lot of discipline is needed to minimize this ever -enlarging traffic(and pollution) problem. 7. Increase support and efficiency of our police and code enforcement staff to minimize unsightly property (mostly the Cove) and nuisance parking, noise, and animals. Public and property safety is always foremost in peoples' minds. 8. Provide incentives for residents and businesses to conserve water and power. Solar incentives and natural landscaping incentives/rewards would raise the awareness and protect our future. Thanks for your attention. Kay Wolff, ;