20110222 - Desk Item for Agenda, Item #4 and Item #6t wxo�.
X0 8 G R��
DATE:
TO:
FROM:
SUBJECT:
COUNCIL AGENDA REPORT
February 22, 2011
MAYOR AND TOWN COUNCIL
MEETING DATE: 02/22/11
ITEM NO: Agenda, Item 4 and 6
DESK ITEM
GREG LARSON, TOWN MANAGER -4 � 4 '
ADMINISTRATIVE CORRECTIONS TO TYPOGRAPHICAL ERRORS IN THE
AGENDA PACKET
Minor, non - substantive typographical errors were identified in Agenda Items 4 and 6, as well as the
Agenda itself, for the February 22, 2001 Town Council meeting.
Unless requested or directed otherwise by Council, these errors will be corrected in the final approvals
as noted below:
Agenda — Presentations: Boards /Commission/Committee End of Term Commendations
Richard Konrad should be listed under Parks Commission, not Transportation and Parking
Item 4 (Consent): Adoption of 2011 -2013 Strategic Goals
Correction of two typographical errors in the attached matrix:
• Last entry under Quality Public Infrastructure — corrected spelling of "transportation"
• Last entry under Civic Enrichment —corrected spelling of "participate"
Item 6: 2010111 Mid -Year Budget Performance and Status Resort
Staff Report, Page 6 - Updated Five -Year Financial Plan
• 2010/11 Forecast (column 2): Total Expenditures & Allocations should be $ 35.0
• 2014/15 Forecast (FY 4): Net Revenues Less Expenditures should be $ (.6)
• 2015/16 Forecast (FY 5): Ongoing Shortfall Mitigation should be $ 5.1
Net Revenues Less Expenditures should be $ (.1)
Corrected versions of Item 4 and 6 are attached.
PREPARED BY : GREG LARSON
Town Manager
NAMGRWdminWotkFiles\2011 Council Repons\2 -22 -I I Desk Item 4.6.doc
Reviewed by: Assistant Town Manager Town Attorney
Clerk Administrator Finance _Community Development
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ITEM 4
Town of Los Gatos General Fund
Updated Five -Year Financial Plan
FYI FY FYI FVJ FYi
ITEM 6, PAGE 6
2010111
2010111
2011112
2012113
2013114
2014/15
2015/16
Account
Revenue Category
Budget
Forecast
Forecast
Forecast
Forecast
Forecast
Forecast
4100 Property Tax
S 7.3
S 7.3
S 7.4
S 7.5
S 7.6
S 7.7
S 7.9
4110 VLF BackfA Property Tax
2.4
2.3
2.4
2.4
2.4
2.4
2.5
4200 Saks & Use Tax
8.4
9.1
8.4
8.6
8.2
8.0
7.9
4250 Fmuehise Fees
1.9
2.0
1.7
1.7
1.7
1.8
1.8
4251 Transient Occupancy Tax
1.0
1.0
0.9
0.9
1.0
1.0
1.0
4400 Brniaess Lkense Tax
1.1
1.1
1.1
1.1
1.1
1.1
1.1
4400 Licenses & Pemius
2.1
2.1
2.0
2.0
2.0
2.1
2.1
45M Intergovernoremal
0.7
0.6
0.8
0.8
0.8
0.8
0.8
4600 Charge for Senices
2.3
2.5
2.5
2.5
2.6
2.6
2.7
47M Fares & Forfeaures
0.6
0.6
0.6
0.6
0.6
0.6
0.7
4800 Interest
1.2
1.1
0.9
0.9
0.9
0.9
0.9
4850 Other Spruces
3.8
3.6
3.8
3.8
3.8
3.9
4.0
4900 Fund Transfers In
0.4
1 0.4
0.3
0.3
1 0.1
1 0.1
0.1
TOTAL RE %ENC ES
33.2
37.7
32.7
1 33.1
32.9
33.1
33A
Use ofRi,serses lle sits
0.9 1.3
0.9
0.6
Ob
TOTAL REVENUES & TRANSFERS
S 34.5 S 35.0
S 33.9
S 34.0
1 S 33.6
1 S 33.2
1 S 33.5
2010111
2010/11
2011112
2012/13
2013114
2014/15
2015/16
Account
Expenditure Category
Budget
Forecast
Forestial
Forecast
Forecast
Forecast
Forecast
5110 Salary
S 13.2
S 12.9
S 13.1
S 13.1
S 13.1
S 13.1
S 13.1
5120 Elected Ofr.iak
0.0
0.0
0.0
0.0
0.0
0.0
0.0
5130 Temporary Employees
0.6
0.5
0.5
0.5
0.5
0.5
0.5
5140 Omn'nrre
0.5
0.4
0.5
0.5
0.5
0.5
0.5
5170 Other Salary
0.1
0.3
0.3
0.3
0.3
0.3
0.3
5200 Bertifns
5.6
5.6
6.3
6.9
7.3
7.6
7.8
6000 Supplies.Matena@. &Sen -ices
5.7
5.6
5.7
6.0
6.2
6.4
6.5
71M Grams &Awards
0.2
0.2
0.2
0.2
0.2
0.2
0.2
74M Utilities
OA
OA
OA
OA
0.5
0.5
0.5
7700 Fixed Assets
-
-
-
_
_
_
_
8060 Internal Serdce Charges
3.1
3.1
3.2
3.6
3.7
3.8
3.9
8900 Debt Service
2.2
1 2.2
2.2
2.2
2.2
2.0
2.0
TOTAL EXPENDITURES
S 31.6
S 31.3
S 32.6
S 33.8
S 34.6
S 34.9
S 35.3
9900 Operating Transfers Out
-
-
-
_
_
_
9900 Capital Transfers Out o GFAR
0.9
0.9
0.9
0.6
0.6
0.4
99M GASB 45 Retiree Sledical Actuarial
0.8
0.8
1.1
1.4
1.6
1.8
TOTAL BUDGETED
F
EXPENDITURES
33.3
33.0
34.5
35.8
36.8
37.2
99L'0 RDA Potential Take Reserve
0.8
Transfer to Capital aid run.. Projects
9900 Reserve
0.6
0.6
0.8
0.7
0.7
0.6
9900 Trnrufer to Stabilization Reserve
0.6
0.6
0.8
0.7
0.7
0.6
0.6
TOTAL EXPENDITURES & ALLOCATIONS
S 34.5
S 35.0
S 36.0
S 37.2
1 S 38.1
S 38.4
S 38.7
REVENUES LESS EXPENDITURES
S 0.1 S 0.0
S (2.1)
S 3.2)
S 4.5
S
ONGOING SHORTFALL MITIGATION
S
S 2.1
S 3.2
S 4.5
S 5.1
NET REVENUES LESS EXPENDITURES
S 0.1 S 0.0
S (2.1)
S (1.1)
5 (1.3)
S (0.6)
S (0.1)
ITEM 6, PAGE 6