20110222 - Desk ItemDATE:
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 !/ o�tvtd0►bi
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: 2010 /11 Mid -Year BudEet Performance and Status Report
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
NAMGR\AdminWorkFiles\2011 Council Reponsl2 -22 -11 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 F1'I F\ "3 F \'4 FVS
ITEM 6, PACE 6
2010/11
2010111
2011112
2012113
2013114
2014115
2015/16
Aceaant
Revenue Category
Budget
Forecast
Forecast
Forecast
Forecast
Forecast
Forecast
4100 Prop" Tax
S 7.3
S 7.3
S 7.4
S 7.5
S 7.6
S 7.7
S 7.9
4110 VLF BackN Property Tax
2.4
2.3
2.4
2.4
2.4
2.4
2.5
4300 Saks & Use Tax
8.4
9.1
8.4
8.6
8.2
8.0
7.9
4250 Fnrah.e 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 Busmcss L ,nia Tax
1.1
1.1
1.1
1.1
1.1
1.1
1.1
4400 Laoenses & Penrds
2.1
2.1
2.0
2.0
2.0
2.1
2.1
4500 haereoremmeatal
0.7
0.6
0.8
0.8
0.8
0.8
0.8
4600 Charge for Sernxes
2.3
2.5
2.5
2.5
2.6
2.6
2.7
4700 Fares & Forfm es
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 Sources
3.8
3.6
3.8
3.8
3.8
3.9
4.0
4900 Fund Transfer In
OA
1 0.4
0.3
1 0.3
0.1
0.1
0.1
TOTAL REVENUES
33.2
33.7
32.7
33.1
1 32.9
33,1
33.4
Use f Rext,:,cs De Iu at.
0.9 1.3
0.9
0.6
0.6
0.4
1 0.5
TOTAL REVENUES & TRANSFERS
S 34.51 S 35.0
S 33.9
S 34.0
1 S 33.6
1 S 33.2
1 S 33.5
2010 /11
2010 /11
2011/12
2012/13
2013/14
2014115
2015/16
Accaunt
EspendiNre Category
Budget
Fomcast
Forecast
Forecast
Foreeast
Forecast
Forecast
5110 Sala,
S 13.2
S 12.9
S 13.1
S 13.1
$ 13.1
S 13.1
S 13.1
5120 Elected Of crab
0.0
0.0
0.0
0.0
0.0
0.0
0.0
5130 Temponny Ernpbyecs
0.6
0.5
0.5
0.5
0.5
0.5
0.5
5140 Ocenime
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 Beire6,s
5,6
5.6
6.3
6.9
7.3
7.6
7.8
601X1 Supplie, Xlmmu6.& Ser, fees
5.7
5.6
5,7
6.0
6.2
6.4
6.5
7200 &ants & At ard,
0.2
0.2
0.2
0.2
0.2
0.2
0.2
7401) Utilnies
OA
0.4
0.4
0.4
0.5
11.5
0.5
7700 Feed Assets
-
-
_
_
_
SOW Internal Service Charges
3.1
3.1
3.2
3.6
3.7
3.8
3.9
8900 Debi Service
2.2
1 2.2
2.2
2.2
2.2
1 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 Operatmg Transfers Out
-
-
_
_
_
_
_
9900 Capval Transfers Out to GEAR
0.9
0.9
0.9
0.6
0.6
OA
0.5
9900 GASB 45 Retiree Medical Actuarial
0.8
0.8
1.1
1.4
1.6
1.8
1.8
TOTAL BUDGETED
EXPENDITURES
33.3
33.0
34.5
35.8
36.8
37.2
37.6
99110 RDA Potenual'fake Reserve
0.8
Transfer u, Capital and Fut Projects
9900 Reserve
0.6
0.6
0.8
0.7
0.7
0.6
0.6
9900 Transfer to Stubihn fittReserve
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
IS 37.2
IS 38.1
is 38.4
1 S 38.7
REVENUES LESS EXPENDITURES
S 0.1 S O.0
$ 2.1)
S (3.2 )
$ (4.5)
S (S.I) S (5.2)
ONGOING SHORIFALL 6IITIGATION
S
S 2.1
S 3.2
S 45
S 5.1
NET REVENUES LESS EXPENDITURES
S 0.1 S 0.0
S (2.1)
S (1.1)
S (1.3)
S (0.6)
S (0.1)
ITEM 6, PACE 6