HomeMy WebLinkAboutItem 8.1 Fiscal Year 2025-26 2nd Quarter Financial Review
STAFF REPORT
City Council
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Agenda Item 8.1
DATE: February 17, 2026
TO: Honorable Mayor and City Councilmembers
FROM: Colleen Tribby, City Manager
SUBJECT:
Fiscal Year 2025-26 2nd Quarter Financial Review
Prepared by: Jay Baksa, Finance Director
EXECUTIVE SUMMARY:
The City Council will receive a financial report through the second quarter of Fiscal Year 2025-
26 and consider amendments via a budget change.
STAFF RECOMMENDATION:
Receive the report and approve the budget change.
FINANCIAL IMPACT:
Approval of the budget change will result in a net increase to the General Fund revenue
budget of $2,498,995 and a decrease in the General Fund expenditure budget of $619,000.
The City is projected to be in an operating surplus position of $17,769,022 in Fiscal Year 2025 -
26. Total General Fund reserves are projected at $274,164,854 by June 30, 2026, a decrease
of $51,309,941 from the prior year.
This report also contains various budget changes in other funds requiring City Council
approval.
DESCRIPTION:
The purpose of this report is to update the City Council on the status of the Fiscal Year 2025-
26 General Fund Amended Budget and projected reserves. As a reminder, the Amended
Budget includes budget changes approved since July 1, as well as carryover budgets from the
prior year. The budget change (Attachment 4) lists all new amendments needing approval in
the General Fund and in other funds.
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General Fund Summary (Attachment 1)
General Fund revenues are projected to come in $2,498,995 higher than the Amended
Budget, accounting for higher interest earnings and one-time tax credit revenue. These
increases are partially offset by decreases in Parks and Community Services revenue rel ated
to the Dublin Arts Center and preschool programs, as well as reduced development revenue,
for a total decrease of $619,000 in the operating expenditure budget. Table 1 summarizes the
proposed adjustments, followed by a detailed discussion of the changes.
Table 1: Revenue and Expenditure Changes
Category Amount
Revenues
Interest Earnings $3,000,000
Other Revenue $749,243
Charges for Services ($666,270)
Rentals & Leases ($83,978)
Development Revenue ($500,000)
Total Revenues $2,498,995
Expenditures
Contract Services ($619,000)
Total Expenditures ($619,000)
General Fund Impact $3,117,995
Revenues
Interest – Increase of $3,000,000
The increase in interest earnings is primarily attributable to the timing of General Fund capital
project payments, which resulted in higher-than-projected cash balances, combined with a
continued high-interest-rate environment.
Other Revenue – Increase of $749,243
In coordination with the City’s tax counsel, Staff identified that the City’s Energy Efficiency
Project is eligible for federal tax credits under the Build Back Better and Inflation Reduction Act
of 2022. Although the City does not typically file federal tax returns, the legislation allows
governmental entities to file limited returns to claim eligible tax credits, which are received as
direct revenue. Fiscal Year 2025–26 is the first year the City has received these funds, and
Staff will continue to file annual claims in future years until all eligible c redits associated with
the project have been fully received.
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Charges for Service – Decrease of $666,270
The decrease is the net result of the following:
Decrease of $185,070 in preschool program revenue. Preschool enrollment has been
declining due to the expansion of Transitional Kindergarten (TK) by Dublin Unified
School District. The school district began phasing in TK in the 2024–25 school year,
with Universal TK fully implemented beginning in Fiscal Year 2025–26. As a result,
enrollment in the City’s preschool program has declined 57% from the prior year.
Decrease of $496,200 in recreation revenue. This is due to the timing of the Dublin Arts
Center opening, partially offset by a $280,000 reduction in contract services
expenditures related to recreation programming.
Increase of $15,000 in aquatic program revenue. This is due to higher-than-anticipated
attendance for contract aquatic fitness classes held at The Wave. This revenue
increase is accompanied by a corresponding $11,000 increase in contract services
expenditures.
Rentals and Leases – Decrease of $83,978
The decrease is due to the timing of the Dublin Arts Center opening, with a decrease of
$46,202 in rental revenue related to the black box theatre and a decrease of $37,776 in rental
revenue related to the remainder of the facility.
Development Revenue – Decrease of $500,000
The decrease is attributable to the timing of development projects and reduced expenditures
resulting from departmental vacancies. The revenue decrease is partially offset by a
corresponding $350,000 reduction in contract services expenditures.
Expenditures
Contract Services – Decrease of $619,000
The decrease is based on the following:
Decrease of $350,000 in Public Works development contracts. The reduction reflects
the timing of development-related projects and existing Public Works departmental
vacancies. Development-related expenditures are fully reimbursed by developers;
therefore, the expenditure decrease results in a corresponding revenue reduction. The
associated revenue decrease is reflected in the prior section .
Decrease of $269,000 in recreation contract classes. This change consists of a
$280,000 decrease in contract classes associated with the Dublin Arts Center, partially
offset by an increase of $11,000 in contract classes at The Wave. Revenue from
recreation contract classes is shared between the contractor and the City; accordingly,
any reduction in expenditures results in a proportional decrease in related revenues.
The associated revenue decrease is reflected in the prior section .
After incorporating all adjustments, Staff is projecting an operating surplus of $17.8 million for
Fiscal Year 2025-26. Transfers out total $69.2 million, $41.5 million of which is funded by
Committed/Assigned reserves. In addition, $2.0 million is budgeted as a contribution to the
Internal Service Funds.
After accounting for the use of reserves on capital projects, total reserves are projected to
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decrease by $51.3 million from the prior year, as illustrated in Table 2 below.
Table 2: General Fund Summary
FY 2024-25
Actual
FY 2025-26
Adopted
Updated
FY 2025-26
Amended
Total Reserves, Beginning of Year $290,432,952 $325,474,796 $325,474,796
Revenues 138,222,222 133,236,842 135,813,093
Expenditures (102,007,918) (116,432,450) (118,044,071)
Net Operating Budget Impact 36,214,304 16,804,393 17,769,022
Transfers In 162,885 136,015 136,015
Unrealized Gains/Losses 9,181,038
CIP Reimbursement Payments 2,152,018
Transfers Out/Contributions to Other Funds (12,668,401) (20,221,900) (69,214,979)
Total Reserves, End of Year $325,474,796 $322,193,304 $274,164,854
Change from Prior Year ($51,309,941)
Other Funds
Staff is requesting approval of the following non-general fund amendments:
Street Light Assessment District (1983-1) Fund – Appropriate $22,730 to repair lights
from wire theft (any insurance reimbursements will be deposited back into the fund ),
and $10,450 to replace light poles at Village Parkway and Wineberry Way.
Street Light District (1999-1) – Appropriate $37,260 to repair lights from wire theft (any
insurance reimbursements will be deposited back into the fund ).
Affordable Housing – Appropriate $400,000 for the first time homebuyers loan program,
as the city continues to experience a high demand for the program.
Public, Educational, and Governmental (PEG) Access Funding – Appropriate $ 17,813
to fund the purchase of equipment related to broadcasting City Council and Planning
Commission meetings.
Measure D – Shift $83,692 in appropriations from Salaries and Benefits to Contract
Services to be used for Senate Bill 1383 implementation assistance and solid waste
agreement support, with no increase to total Measure D funds appropriated.
Other Notable Items
Workers Compensation Liability Self-Funding
On December 2, 2025, the City Council approved a Resolution declaring the City a self -insured
employer for Workers’ Compensation liability. At that time, Staff identified estimated costs of
approximately $165,000, which included the engagement of a claims administrator, the
purchase of excess insurance, and the establishment of a Workers’ Compensation Trust Fund.
Staff also indicated that a budget adjustment would be brought forward, if necessary, as part of
the Fiscal Year 2025–26 mid-year financial review.
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Since that time, Staff has implemented the Workers’ Compensation Trust Fund, retained a
claims administrator, and secured excess insurance coverage. These actions have been
completed within the existing Risk Management budget appropriations, and therefore, no mid-
year budget adjustment is required.
Sales Tax – No Change
Staff continues to closely monitor the City’s sales tax receipts and has recently received
reports for the first quarter of Fiscal Year 2025-26. Overall, the reports to date are
encouraging, as the City’s businesses continue to perform well and are outpacing statewide
averages.
While first-quarter reports show total sales tax trending above budget, Staff is not
recommending any action by the City Council at this time. One major taxpayer did not remit its
first-quarter payment and is currently under audit. Although Staff anticipates the missed
payment will be received within the current fiscal year, no adjustments are recommended until
the payment has been received and verified.
Dublin Police Services (DPS) Memoranda of Understanding Update
During the first quarter of Fiscal Year 2025–26, the City was notified by DPS that multiple
Memoranda of Understanding (MOU) had been approved by the labor unions representing law
enforcement personnel and the County of Alameda. Because DPS personnel are County
employees, any changes resulting from these MOUs are automatically implemented by the
County and passed through to the City under the DPS contract.
Following notification of the MOU approvals, City and County staff worked collaboratively to
project the fiscal impacts of these changes on the DPS contract budget. During this same
period, the City was also notified of increases in risk management and workers’ compensation
costs charged by the County, as well as decreases in retirement costs resulting from the
expiration of a County Retiree Contribution Bonded Obligation.
Based on the combined impact of these adjustments, Staff projects that all associated costs
can be absorbed within the current DPS budget and is therefore not recommending any mid-
year budget changes at this time.
ATTACHMENTS:
1) General Fund Summary Quarter 2 Fiscal Year 2025-26
2) General Fund Reserves Summary Quarter 2 Fiscal Year 2025-26
3) General Fund Transfers Out Quarter 2 Fiscal Year 2025-26
4) Budget Change Quarter 2 Fiscal Year 2025-26
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FISCAL YEAR 2025-26 GENERAL FUND SUMMARY
Actuals
2024-25
Adopted
2025-26
Amended
2025-26 Q2 Adjustments New Amended
2025-26
Revenues
Property Tax 63,838,672 66,105,654 66,105,654 66,105,654
Sales Tax 29,172,420 27,574,345 27,574,345 27,574,345
Sales Tax Reimbursements (350,000) (375,000) (375,000) (375,000)
Development Revenue 10,378,283 10,428,265 10,505,521 (500,000) 10,005,521
Transient Occupancy Tax 1,324,612 1,400,000 1,400,000 1,400,000
Other Taxes 7,531,724 7,362,250 7,362,250 7,362,250
Licenses & Permits 332,607 124,400 124,400 124,400
Fines & Penalties 53,168 67,400 67,400 67,400
Interest Earnings 11,163,695 7,596,400 7,596,400 3,000,000 10,596,400
Rentals and Leases 2,159,045 2,271,676 2,271,676 (83,978) 2,187,698
Intergovernmental 540,580 300,000 300,000 300,000
Charges for Services 8,669,970 7,714,813 7,714,813 (666,270) 7,048,543
Other Revenue 3,407,448 2,666,640 2,666,640 749,243 3,415,883
Subtotal Revenues - Operating $138,222,222 $133,236,842 $133,314,098 $2,498,995 $135,813,093
Transfers In $162,885 $136,015 $136,015 $136,015
CIP Reimbursement Payments $2,152,018
Unrealized Gains/Losses/Adjustments 9,181,038
Total Revenues $149,718,163 $133,372,857 $133,450,113 $2,498,995 $135,949,108
Expenditures
Salaries & Wages $14,045,766 $16,863,696 $16,863,696 16,863,696
Benefits 5,539,519 6,698,988 6,698,988 6,698,988
Services & Supplies 6,393,224 8,083,119 8,371,769 8,371,769
Internal Service Fund Charges 5,475,186 5,885,854 5,885,854 5,885,854
Utilities 3,120,469 4,042,135 4,042,135 4,042,135
Contracted Services 65,851,624 72,914,991 74,397,350 (619,000) 73,778,350
Capital Outlay 233,989 388,416 848,029 848,029
Debt Service Payment 1,334,650 1,331,250 1,331,250 1,331,250
Contingency & Miscellaneous 13,491 224,000 224,000 224,000
Subtotal Expenditures - Operating $102,007,918 $116,432,450 $118,663,071 ($619,000) $118,044,071
Operating Impact (REV-EXP) $36,214,304 $16,804,393 $14,651,027 $3,117,995 $17,769,022
Transfer Outs & Contributions to Other Funds
Transfers Out (CIPs) - Com./Assig. Reserve 5,460,001 10,900,000 41,546,947 41,546,947
Transfers Out (CIPs) - Undesignated 3,320,135 7,321,900 25,668,031 25,668,031
Transfers Out (CIPs) - Reimbursable 1,888,264 -
Contribution to ISF & Other 2,000,000 2,000,000 2,000,000 2,000,000
Subtotal - Transfers Out & Contributions $12,668,401 $20,221,900 $69,214,979 $0 $69,214,979
Total Expenditures $114,676,319 $136,654,350 $187,878,050 ($619,000) $187,259,050
GF Impact (Include CIP & Transfers) $35,041,844 ($3,281,492) ($54,427,936) $3,117,995 ($51,309,941)
TOTAL GENERAL FUND BALANCE $325,474,796 $322,193,304 $271,046,859 $274,164,854
Attachment
208
FISCAL YEAR 2025-26 GENERAL FUND RESERVES SUMMARY
RESERVE DESCRIPTION
Actual
2024-25
Increase
2025-26
Decrease
2025-26
Net Change
2025-26
Projected
2025-26
Non-Spendable $40,123 $40,123
Prepaid Expenses 40,123 40,123
Restricted $16,242,645 $0 $0 $0 $16,242,645
Cemetery Endowment 60,000 60,000
Developer Contribution - Downtown 1,490,000 1,490,000
Developer Contr - Heritage Park 19,000 19,000
Developer Contr - Nature Park 60,000 60,000
Heritage Park Maintenance 750,000 750,000
Public Facilities Advance 11,605,916 11,605,916
Section 115 Trust - Pension 2,257,730 2,257,730
Committed $197,229,405 $0 ($40,092,630)($40,092,630) $157,136,775
Contigency Reserves
Asset Contingency 17,714,064 (5,000,000)(5,000,000)12,714,064
Economic Stability 8,000,000 8,000,000
Fire Svcs Pension/OPEB 2,211,094 2,211,094
Parks and Streets Contingency 201,270 201,270
Pavement Management 2,000,000 2,000,000
Pension & OPEB 18,000,000 18,000,000
Public Safety Reserve 4,600,000 4,600,000
Service Continuity 3,150,000 3,150,000
Project Specific Reserves
Cultural Arts Center (CIP) - GI0120 1,402,815 (1,477,815)(1,477,815)(75,000)
Don Biddle Park (CIP) - PK0115 675,193 (675,193)(675,193)
Downtown Public Improvement - ST0319 45,000,000 (358,990)(358,990)44,641,010
Dublin Blvd Extension Advance ST0216 71,042,736 (20,228,823)(20,228,823)50,813,913
Fallon Sports Park III Contingency - PK0119 51,462 (51,463)(51,463)
HVAC Replace. & Civic Ctr Improv. (CIP) - GI0122 1,812,944 (732,520)(732,520)1,080,424
Library Tenant Improvement - GI0521 1,000,000 1,000,000
Maintenance Facility (CIP) - GI0509 55,008 (55,007)(55,007)
Village Pkwy Pavement Reconstruction - ST0323 20,312,819 (11,512,819)(11,512,819)8,800,000
Assigned $59,336,248 $1,000,000 ($21,234,232)($20,234,232) $39,102,016
Accounting Adjustment Reserves
Accrued Leave 1,589,394 1,589,394
CIP Carryovers 17,186,131 (17,186,131)(17,186,131)0
Façade Improvement Grants 429,972 429,972
Operating Carryovers 1,690,898 (1,690,898)(1,690,898)0
Specific Use Reserves
Advance to Public Facility Fee 5,000,000 5,000,000
ARPA Revenue Replacement 990,187 990,187
Contribution to Public Facility Fee 10,000,000 10,000,000
Lease Revenue Bond Payoff 9,000,000 1,000,000 1,000,000 10,000,000
Relocate Parks Dept 500,000 (320,000)(320,000)180,000
Utility Undergrounding 3,500,000 3,500,000
Non-Specific Use Reserves
Climate Action Plan 2,554,518 (506,152)(506,152)2,048,366
Innovations & New Opportunity 3,316,206 (1,418,339)(1,418,339)1,897,866
Municipal Regional Permit 885,422 (81,700)(81,700)803,722
Non-Streets CIP Commitments 2,693,521 (31,011)(31,011)2,662,510
Unassigned $52,626,374 $61,326,862 ($52,309,941) $9,016,921 $61,643,295
Unassigned-Unrealized Gains 2,141,609 2,141,609
Unassigned (Available)50,484,765 59,501,686
TOTAL RESERVES $325,474,796 $62,326,862 ($113,636,804) ($51,309,941) $274,164,854
Attachment 2
209
Proj #Project Name Adopted New Amended
gi0120 Cultural Arts Center 250,000 1,477,815
GI0122 Civic Center Rehabilitation 732,520
gi0219 EV Charging Stations 82,257
gi0509 Maintenance Yard Facility 55,007
gi0226 Exterior Improvements 5,000,000 5,000,000
pk0115 Don Biddle Community Park 675,193
PK0225 Fallon Park Flag Installation 31,011
pk0119 Fallon Sports Park Phase 3 51,463
st0121 Green Stormwater Infrastructure 81,700
st0216 Dublin Blvd Extension 20,228,823
st0319 City Entrance Monument Signs 200,000
ST0323 Village Parkway Reconstruction 10,650,000 11,512,819
st0713 Citywide Signal Com. Upgrade 1,418,339
Total Use of Reserves 10,900,000$ 5,000,000$ 41,546,947$
gi0121 Citywide Energy Improvements 400,000 1,675,616
GI0123 Dublin Standard Plans Update 30,378
gi0124 Marquee Signs 844,763
gi0221 Resiliency and Disaster Preparednes 1,375,000 660,000 2,608,715
GI0225 Condition Assessment of Water Features 50,000
gi0226 Exterior Improvements 500,000 500,000
gi0319 Financial System Replacement 485,431
GI0323 Municipal Fiber - 139,754
GI0325 Facilities Parking Lot Resurfacing 500,000 1,000,000
gi0421 Audio Visual System Upgrade 204,982
GI0425 Waste Enclosures Upgrade 131,001
gi0521 Library Tenant Improvements 1,000,000
GI0523 Situational Awareness Camera 199,898
PK0122 Alamo Creek & Asmnt Dist Fence Repl 429,047
pk0124 Parks Playground Replacement - 1,109,478
pk0125 Sunday School Barn Improvements 260,000 385,000
pk0221 Downtown Dublin Town Square Park 111,443
pk0224 Kolb Park Renovation 1,975,000 2,423,574
pk0321 Restrooms Replacement 475,000 1,467,521
pk0322 Jordan Ranch Neighborhood Square 349,100
pk0422 Iron Horse Nature Park & Open Space 79,050
pk0518 Imagine Playground at Dublin Sports 42,687
PK0225 Fallon Park Flag Installation/field G 250,000 250,000
st0117 Annual Street Resurfacing 2,086,900 1,497,079
st0118 Iron Horse Trail Bridge at Dublin 50,000
st0124 Citywide Storm Drain Improvements 30,000
st0216 Dublin Blvd Extension 7,290,382
st0218 San Ramon Road Landscape Renovation 237,446
st0221 Downtown Dublin Street Grid Network 185,279
st0319 City Entrance Monument Signs 285,000
st0514 San Ramon Road Trail Improvements 7,996
st0517 Citywide Bicycle & Pedestrian Impro 567,412
Total Unreserved Costs 7,321,900$ 1,160,000$ 25,668,031$
st0121 Green Stormwater Infrastructure (Reimbursement)447,423
Total GF CIP Transfer Out 18,221,900$ 6,160,000$ 67,662,401$
Transfer to ISF 2,000,000
Total Transfer Out (all)69,214,979$
GENERAL FUND TRANSFERS OUT - Q2 FY 2025-26
Reserve Funded Projects
General Fund Projects
Attachment 3
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Attachment 4
10010000.46101 (Interest)$3,000,000
10010000.49131 (Misc Reimbursements)$749,243
10017411.48813 (Preschool Programs) ($185,070)
10017701.48812 (Recreational Activities)($489,000)
10017702.46202 (DAC Facility Rentals) ($37,776)
10017704.48711 (Cultural Arts Activities) ($7,200)
10017721.46202 (Blackbox Rentals) ($46,202)
10017605.48817 (Aquatic Programs)$15,000
10096120.48921 (Plan Checking) ($500,000)
10017605.64002 (Aquatics - Contract Classes) $11,000
10017701.64002 (Contract Classes)($280,000)
10096120.64095 (Inspections) ($350,000)
Special Revenue Funds
27016336.64001 - Street Light District 1983-1 - Contract
Services $22,730
27016336.64001 - Street Light District 1983-1 - Contract
Services $10,450
27056336.64001 - Street Light District 1999-1 - Contract
Services $37,260
29018100.66101 - Affordable Housing - First Time
Homebuyer Loan Program $400,000
28111830.64001 - PEG - Contract Services $17,813
23026230.64001 (Contract Services) $83,692
23026230.XXXXX (Salaries and Benefits) ($83,692)
Net Zero - To shift expenditures from staff time to contract
services, to be used for SB1383 implementation assistance
and solid waste agreement support contract services.
Net Zero - To shift expenditures from staff time to contract
services, to be used for SB1383 implementation assistance
and solid waste agreement support contract services.
Increase - To offset costs related to repairs of lights
damaged from wire theft. Any insurance reimbursement will
be deposited back into this fund.
Increase - For the first time homebuyers loan program, as
the city continues to experience a high demand for the
program.
Increase - To offset costs related to repairs of lights
damaged from wire theft. Any insurance reimbursement will
be deposited back into this fund.
Increase - For light pole replacement at Village Pkwy and
Wineberry Way.
Increase - To fund the purchase of a equipment related to
streaming City meetings.
General Fund
REVENUES
Reduction - Due to Dublin Arts Center opening delay.
CITY OF DUBLIN
FISCAL YEAR 2025-26
BUDGET CHANGE REQUESTS
OPERATING EXPENDITURES
General Fund
Increase - Due to receipt of Federal Tax Credits from the
City's Energy Efficiency Projects.
Increase - For contract aquatic fitness classes held at the
Wave.
Increase - Based on the timing of General Fund capital
project payments and the continued high-interest-rate
environment.
Reduction - Due to Dublin Arts Center opening delay.
Increase - Due to higher than anticipated attendance for
contract aquatic fitness classes held at the Wave.
Reduction - Due to timing of projects and reduced
expenditures due to vacancy's.
Reduction - Due to timing of projects and reduced
expenditures due to vacancy's.
Reduction - Due to declining registrations from the school
districts implementation of Transitional Kindergarten.
Reduction - Due to Dublin Arts Center opening delay.
Reduction - Due to Dublin Arts Center opening delay.
Reduction - Due to Dublin Arts Center opening delay.
211
Fiscal Year 2025-26
2nd Quarter Financial Review
February 17, 2026
212
General Fund Mid-Year Overview
•General Fund (GF) Impact = +$3.12 Million
•Operating Surplus Projected at Year-End =
+$17.77 Million
•Transfers Out/Contributions = $69.21 Million
•Projected Reserve Year-End Balance = $274.16
Million
213
Revenue Summary
•Interest: +$3,000,000
•Other Revenue: +$749,243
•Charges for Services: -$666,270
–Preschool Programs: -$185,070
–Recreational Activities (DAC): -$496,200
–Aquatic Program: +$15,000
214
Revenue Summary, 2
•Rentals and Leases: -$83,978
–Blackbox: -$46,202
–DAC Facilities: -$37,776
•Development Revenue: -$500,000
–Corresponding $350,000 reduction (Contract Services)
–Timing of projects/vacancies (Public Works)
215
Expenditure Summary
Contract Services:
•Development (Public Works): -$350,000
•Recreation DAC Classes: -$280,000
•Recreation Aquatic Classes: +$11,000
216
Reserves
FY 2024-25
Actual
FY 2025-26
Adopted
Updated
FY 2025-26
Amended
Total Reserves, Beginning of Year $290,432,952 $325,474,796 $325,474,796
Revenues 138,222,222 133,236,842 135,813,093
Expenditures (102,007,918)(116,432,450)(118,044,071)
Net Operating Budget Impact $36,214,304 $16,804,393 $17,769,022
Transfers In 162,885 136,015 136,015
Unrealized Gain/Loss 9,181,038
CIP Reimbursement Payments 2,152,018
Transfers Out/Contribution to Other (12,668,401)(20,221,900)(69,214,979)
Total Reserves, End of Year $325,474,796 $322,193,304 $274,164,854
Change from Prior Year ($51,309,941)
217
Other Funds
Street Light Assessment District (1983-1)
•Wire Theft and Pole Replacement: +$33,180
Street Light Assessment District (1999-1)
•Wire Theft: +$37,260
Affordable Housing
•First Time Home Buyer Loan: +$400,000
218
Other Funds, 2
Public, Educational, Governmental (PEG)
•Equipment for City meetings: +$17,813
Measure D
•Shift funds from Salaries to Contract Services
•SB 1383 and Solid Waste Agreement assistance
•Net $0
219
Updates
Workers’ Compensation Self-Funding
•Engaged Claims Administrator
•Purchased Excess Insurance
•Established Workers’ Comp Trust Fund
•No budget adjustment needed
220
Updates, 2
Sales Tax
•Positive Q1 results
–Dublin outperforming statewide averages
•Trending above Budget
–Not recommending any update to Budget
•Major taxpayer missed payment
221
Updates, 3
Dublin Police –Recommending no changes
•MOU approvals: Increase Costs
•Risk Management and Workers
Compensation: Increase Costs
•Retirement: Decrease Costs
222
Staff Recommendations
•Receive the report
•Approve the budget change
•Questions?
223