Title
Department of Transportation recommending the Board authorize the Chair to sign the Budget Transfer increasing revenue and appropriations for FY2010-2011 for the Placerville and Georgetown Airports Enterprise Funds, Special Aviation Fund, El Dorado Hills Traffic Impact Mitigation (TIM) Fee Special Revenue Fund, the Silva Valley Interchange Set-Aside Special Revenue Fund, Public Utility Franchise Fee Special Revenue Fund and Road Fund. (4/5 vote required)
FUNDING: State California Aid to Airports Revenue, General Fund, El Dorado Hills Traffic Impact Mitigation Funds, Public Utility Franchise Fees.
Body
BUDGET SUMMARY: |
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Total Estimated Cost |
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$ 111,000 |
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Funding |
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Budgeted |
$ |
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New Funding |
$ 111,000 |
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Savings |
$ |
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Other |
$ |
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Total Funding Available |
$ 111,000 |
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Change To Net County Cost |
$ 0 |
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Fiscal Impact/Change to Net County Cost:
There is no change to net County Cost. Additional revenues received in the various funds.
Background:
AIRPORTS
The airports have received unanticipated revenue from the California Aid to Airports Program (CAAP). In fiscal year 09/10 CAAP funding was indefinitely suspended. In January 2011 the suspension for CAAP funding was lifted and became retro-active allowing for fiscal year 09/10 and fiscal year 10/11 funding to be made available. The CAAP funding provides $10,000 a year per airport for a total of $40,000 in additional revenue. This additional revenue will allow the Placerville Airport to increase it's fund balance in the current year and carry over the funds to fiscal year 11/12 to be used to fund a portion of the match on the security fence capital project, and to be used for operations. The Georgetown airport will require less General Fund contribution. The Department is requesting that this portion of the General Fund contribution be transferred to Placerville Airport to purchase a fueling truck.
For the past several years Placerville Airport has rented a Jet-A fueling truck in-order to service helicopters and larger aircraft that can not pull up to the fueling pump. The rental is $9,831 dollars a year. This function is paramount to Placerville because it allows life flight and fire fighting helicopters to stay locally. The cost to purchase the existing fueling truck is approximately $17,000, which is less than two years of rental expenses. The Department estimates the useful life of this truck to be twenty years as the truck has very few miles put on it each year and does not go off site. The initial asking price of the truck was $21,000 and the Department successfully negotiated the price down to $17,000 which is comparable to other asking prices for similar vehicles. The Department of Transportation is asking that you allow the savings of $20,000 in General Fund contribution originally programmed for Georgetown Airport to be transferred to the Placerville Airport to cover the purchase of the fueling truck. The budget transfer increases fixed assets and increases revenue from the General Fund to Placerville Airport, while decreasing the General Fund revenue to Georgetown. There is a zero net County cost compared to the budget but would allow the Placerville airport to continue to service the local community.
El DORADO HILLS TIM FEE FUND
Due to the reduced permit forecast in the El Dorado Hills TIM Zone 8 area, DOT stopped working on most projects in Zone 8. The fiscal year 10/11 budget was reduced in the EDH TIM special revenue fund based on the limited funds available. This fiscal year, there were additional legal invoices received for the Saratoga realignment project, the final invoice for the environmental report on Saratoga Extension and the invoice for the tree watering required as mitigation on the completed Green Valley Road project. Actual revenue to date exceeds the budget amount. This budget transfer increases revenue and appropriations by $40,000 which will allow the El Dorado Hills TIM Fee fund to fully reimburse the Road Fund for all project costs incurred this year.
SILVA VALLEY INTERCHANGE SET-ASIDE FUND
The loan from the Silva Valley Interchange Set-Aside to the El Dorado Hills TIM fee program including accrued interest through fiscal year 09/10 has been paid back. The interest accrued for fiscal year 10/11 still needs to be transferred. This budget transfer increases revenue and appropriations by $2,000 which will allow for the payment of the fiscal year 10/11 interest owed from El Dorado Hills TIM Fee area to the Silva Valley Interchange Set-Aside Fund, completing the final portion of the transaction.
PUBLIC UTILITY FRANCHISE FEE FUND
The Public Utility Franchise Fee revenues are budgeted based on history and the current economic conditions. The current year revenues have exceeded the budget amount. The special revenue fund where these funds reside will need to be closed to comply with Governmental Accounting Standards Board Statement 54 (GASB 54) requirements. This budget transfer increases revenue and appropriations by $29,000 which will allow for the transfer of the additional revenue to the Road Fund, to be used for road maintenance, thus allowing the fund to be closed at year end.
Reason for Recommendation:
Approval of this Budget Transfer request will allow the Department of Transportation to:
1. Disburse the California Aid to Airports Program (CAAP) revenue to the Placerville and Georgetown Airports.
2. Request the savings of General Fund monies previously programmed to the Georgetown Airport be transferred to Placerville Airport to fund the purchase of a fueling truck.
3. Process reimbursement to the Road Fund for project costs in the El Dorado Hills TIM Fee area.
4. Process the final payment of interest owed from El Dorado Hills TIM Fee area to the Silva Valley Interchange Set-Aside.
5. Transfer the balance in the Public Utility Franchise Fee special revenue fund to the Road fund for use on road maintenance, allowing the closure of the special revenue fund at year end.
Action to be taken following Board approval:
1. Board Chair to sign budget transfer.
2. Department will work with Procurements and Contracts to purchase a fueling truck.
3. Department of Transportation to process financial transactions related to the activities described herein.
Contact: James W. Ware, P.E.
Director of Transportation
Concurrences: N/A