Cash Position Presentation 9-18-2018Total Operating Cash Position
Town Council Meeting
September 18, 2018
CASH POSITION
CASH POSITION
General Fund $38.4M
General Fund
$35.6M
• BMP Housing Deposits- $3.5M
• Deposits/AP - $2.7M
• General Plan Update Deposits - $2.2M
• Reserves
• Capital Special Projects - $7.9M
• Budget Stabilization - $5.0M
• Catastrophic Reserve - $5.0M
• Pension/OPEB - $3.2M`
• Open Space Reserve - $0.6M
• Compensated Absences (short term) - $0.4M
• Strategic Planning - $0.3M
• Sustainability - $0.1M
• To be allocated per adopted Policy- $5.2M
Compensated Absences
$2.8M
• Compensated Absences (long term) - $2.8M
CASH POSITION
Special Revenues $0.1 M
Lighting and
Landscaping Districts
$0.2M
• Restricted for future infrastructure improvements in each
local improvement district. The Town has six of these
districts.
CDBG
$0.1M
• Community Development Block Grants
• Restricted for eligible federal block grant projects that
focus on funding sources for accessibility (Americans with
Disabilities Act) ADA projects.
Urban Runoff
<$-0.2M>
• Fund has a negative cash balance as of June 30, 2018.
The fund is awaiting the January through June 2018
runoff program payment from West Valley Sanitation
District that will be received in July 2018.
CASH POSITION
Capital Projects $25.3M
GFAR
$15.9M
• AP/Deposits Payable - $1.8M
• Programmed for 18/19 Capital Projects - $14.1M
Construction Tax
$2.9M
• Dedicated for infrastructure
improvements/underground utilities/park
improvements
Traffic Mitigation
$2.6M
• Dedicated for traffic improvements throughout the
Town -$2.5M
• Accounts Payable - $0.1M
Storm Drains
$2.6M
• Dedicated for storm drain improvements - $2.5M
• Accounts Payable - $0.1M
Gas Tax
$1.4M
• Restricted for local road improvements
Grants
<$-0.1M>
• Awaiting grant reimbursements from federal/state
CASH POSITION
Internal Service Funds $10.7M
IT
$3.1M
• Future technology system upgrades per the IT Master
Plan- $2.1M
• Accounts Payable- $1.0M
Equipment
Replacement
$2.3M
• Allocated for future fleet replacement per equipment
replacement schedule
Workers' Compensation
$2.2M
• Claims payable/other liabilities - $1.7M
• Reserved for future claims - $0.5M
ABAG
$1.4M
• Claims payable/other liabilities - $0.6M
• Reserved for future claims - $0.8M
Facilities Maintenance
$0.9M
• Accounts Payable/other liabilities -$0.7M
Vehicle Maintenance
$0.6M
• Vehicle maintenance supplies
• Claims payable/other liabilities - $0.4M
Stores
$0.2M
• Cash balance dedicated for Town-wide printing/postage
CASH POSITION
Fiduciary Funds $2.2M
Library Trust
$0.5M
• Dedicated for library use per donor trust agreements
RDA Successor Agency
Trust
$1.7M
• Cash balance to be used for August 2018 COP debt
service (2002 & 2010 COP's principal and interest
payments) totaling $1.5M.
CASH POSITION
External Trusts $17.7M
California Employers'
Retiree Benefit Trust
$16.5M
• Currently providing approximately 50% of prefunding for
the OPEB plan. Starting from 0% funded status upon the
implementation of GASB 45 in FY 2008/09, the funded
status is approximately twice the statewide average in a
recent survey of California cities.
Public Agency
Retirement Trust (PARS)
$1.2M
• Newly established IRS Section 115 Pension Trust with the
Public Agency Retirement Services(PARS) dedicated
solely for the payment of pension obligation
expenditures. Using dollar cost averaging deposits made
monthly In FY 2018/19 this Trust is expected to increase
to $4.7 million by June 30, 2019.
CASH POSITIONCities Population Amount Per Capita
Palo Alto 66,478 524,998,000$ 7,897$
Santa Clara 123,900 809,000,000 6,529
Mountain View 77,278 501,314,000 6,487
Milpitas 75,145 245,636,949 3,269
Los Altos Hills 8,634 21,887,476 2,535
Morgan Hill 44,145 110,026,136 2,492
Cupertino 60,668 145,392,340 2,397
Los Altos 31,402 74,429,885 2,370
LOS GATOS 31,314 73,636,226 2,352
Gilroy 55,963 124,659,296 2,228
Monte Sereno 3,700 7,308,085 1,975
Sunnyvale 149,831 274,060,652 1,829
San Jose 1,046,000 1,567,436,000 1,499
Campbell 42,726 43,518,216 1,019
Saratoga*30,767 20,700,000 673
Average 123,197 302,933,551$ 2,459$
Cash Available for Operations
(CAFR 6/30/2017)
Comparison of Santa Clara County
Municipalities
Equipment Replacement
CASH POSITION
Information Technology
CASH POSITION
ABAG Self Insurance
CASH POSITION
CASH POSITION
Workers Comp Self Insurance
CASH POSITION
Facilities Maintenance
CASH POSITION
Vehicle Maintenance