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Home My WebLink About2001-12-11 - AGENDA REPORTS - MID YEAR BUDGET ADJUSTMENT (4)CITY OF SANTA CLARITA REDEVELOPMENT AGENCY AGENDA REPORT UNFINISHED BUSINESS City Manager Approval: Item to be presented by: George Caravalho DATE: December 11, 2001 SUBJECT: 2001-02 MID -YEAR BUDGET ADJUSTMENT AND RESOLUTION ACCEPTING A LOAN FROM THE CITY OF SANTA CLARITA DEPARTMENT: City Manager RECOMMENDED ACTION Redevelopment Agency adjust Fiscal Year 2001-02 budgeted expenditures and revenues in the amount specified in Attachment A, and adopt the Resolution accepting a loan from the City of Santa Clarita. BACKGROUND Each year at this time, City staff takes the opportunity to evaluate the adopted budget and assess the economic outlook for the remainder of the year. It is critical to perform the mid -year review of the budgetary and financial position to ensure that any deviations from the initial budget projections are addressed in a manner which is proactive rather than reactive. It is also at this time that staff reviews its priorities and requests appropriations for activities that have become a priority, but are currently not funded. Attachment A provides details of the proposed mid -year expenditure and revenue adjustments. Based on the most recent assessed valuation received from the County for the Newhall Redevelopment area, it is anticipated that tax increment revenue will come in $102,135 higher than currently budgeted. An expenditure of an additional $150,000 is requested in order to continue the successful facade improvement program, and $2,215 is being added for the cost of living adjustment (COLA) associated with staff personnel costs. Based on Council direction from the November 27, 2001 Council meeting, staff is providing additional information regarding the Redevelopment Agency loan. On August 28, 2001, the Redevelopment Agency had approved additional appropriations of $80,000 for the Facade Improvement Plan Program. At the time of the appropriation, Council did not authorize an additional loan. This $80,000, along with the requested $152,215, results in an increase in expenditure appropriations of $232,215 while the revenue budget is being requested to increase by only $102,135. The net result is an increase in expenditure appropriations of $130,080. It is being requested that a loan from the City, in the amount of $150,000, be accepted to help fund these expenditures. The current loan to the Redevelopment Agency does not provide sufficient funding to accomplish the goals directed by the Council/Agency. Approval of this loan brings the total loan from the City of Santa Clarita to $3,395,000. segon Adopfed:ILAc �� Agenda Item: 2001-2002 MID -YEAR BUDGET ADJUSTMENT AND RESOLUTION December 11, 2001— Page 2 ALTERNATIVE ACTION Other action as determined by the City Council. FISCAL IMPACT Redevelopment revenues are projected to increase by $102,135, and expenditures are proposed to increase by $152,215. An additional loan of $150,000 is needed to fund the increase in the facade improvement program. ATTACHMENTS Attachment A — Mid -Year Adjustment Detail Resolution accepting a loan from the City of Santa Clarita Promissory Note for the loan from the City of Santa Clarita GAC:DS:hds =nca\m3"2.d« Account # Expenditures 1900 8001 Contractual Services 150,000 The Newhall Fagade Improvement program has received several requests from local businesses for fagade improvements. Without these additional funds these improvements are not 1900 7011 REGULAR EMPLOYEES 2,215 COLA Adjustment & Position Upgrade 11-W 152,215 Revenues 901 4013 ITax Increment 102,135 Tincrease in Property Tax Revenue Attachment A City of Santa Clarita Line Item Detail of Expenditure Adjustments Midyear FY 2000-01 Div Acct Account Name Amount Purpose 1900 7120 MEDICARE 45 COLA Adjustment& Position Upgrade 1900 7130 WORKERS COMP 490 Position Upgrade 1900 7140 PERS 245 COLA Adjustment & Position Upgrade 2100 7011 REGULAR EMPLOYEES 3,420 COLA Adjustment 2100 7015 TEMPORARY EMPLOYEES 265 COLA Adjustment 2100 7101 Health & Welfare 540 COLA Adjustment 2100 7110 LIFE INSURANCE 10 COLA Adjustment 2100 7115 LONG-TERM DIS. INS 25 COLA Adjustment 2100 7120 MEDICARE 55 COLA Adjustment 2100 7140 PERS 320 COLA Adjustment 2210 7101 Health & Welfare 815 COLA Adjustment 2211 7011 REGULAR EMPLOYEES 3,400 COLA Adjustment 2211 7110 LIFE INSURANCE 10 COLA Adjustment 2211 7115 LONG-TERM DIS. INS 25 COLA Adjustment 2211 7120 MEDICARE 50 COLA Adjustment 2211 7140 PERS 315 COLA Adjustment 2220 7011 REGULAR EMPLOYEES 5,100 COLA Adjustment 2220 7101 Health & Welfare 1,440 COLA Adjustment 2220 7110 LIFE INSURANCE 10 COLA Adjustment 2220 7115 LONG-TERM DIS. INS 40 COLA Adjustment 2220 7120 MEDICARE 75 COLA Adjustment 2220 7140 PERS 470 COLA Adjustment 2230 7011 REGULAR EMPLOYEES 2,390 COLA Adjustment 2230 7101 Health & Welfare (17,795) COLA Adjustment 2230 7110 LIFE INSURANCE 5 COLA Adjustment 2230 7115 LONG-TERM DIS. INS 20 COLA Adjustment 2230 7120 MEDICARE 35 COLAAdjustment 2230 7140 PERS 220 COLA Adjustment 2240 7011 REGULAR EMPLOYEES 1,965 COLA Adjustment 2240 7101 Health & Welfare 540 COLA Adjustment 2240 7110 LIFE INSURANCE 5 COLA Adjustment 2240 7115 LONG-TERM DIS. INS 15 COLA Adjustment 2240 7120 MEDICARE 30 COLA Adjustment 2240 7140 PERS 180 COLA Adjustment 2310 7011 REGULAR EMPLOYEES 9,040 COLA Adjustment 2310 7015 TEMPORARY EMPLOYEES 265 COLA Adjustment 2310 7101 Health & Welfare 2,100 COLA Adjustment 2310 7110 LIFE INSURANCE 20 COLA Adjustment 2310 7115 LONG-TERM DIS. INS 65 COLA Adjustment 2310 7120 MEDICARE 135 COLA Adjustment 2310 7140 PERS 835 COLA Adjustment 2511 7011 REGULAR EMPLOYEES 1,370 COLA Adjustment 2511 7101 Health & Welfare 270 COLA Adjustment 2511 7110 LIFE INSURANCE 5 COLA Adjustment 2511 7115 LONG-TERM DIS. INS 10 COLA Adjustment 2511 7120 MEDICARE 20 COLA Adjustment 2511 7140 PERS 125 COLA Adjustment 2711 7011 REGULAR EMPLOYEES 250 COLA Adjustment 2711 7110 LIFE INSURANCE 5 COLA Adjustment 2711 7115 LONG-TERM DIS. INS 5 COLA Adjustment 2711 7120 MEDICARE 5 COLA Adjustment 2711 7140 PERS 30 COLA Adjustment 3110 7011 REGULAR EMPLOYEES 3,785 COLA Adjustment 3110 7015 TEMPORARY EMPLOYEES 265 COLA Adjustment 3110 7101 Health & Welfare 630 COLA Adjustment 3110 7110 LIFE INSURANCE 10 COLA Adjustment 3110 7115 LONG-TERM DIS. INS 30 COLA Adjustment 3110 7120 MEDICARE 60 COLA Adjustment 3110 7140 PERS 355 COLA Adjustment 3120 7011 REGULAR EMPLOYEES 12,725 COLA Adjustment 3120 7101 Health & Welfare 2,580 COLA Adjustment 3120 7110 LIFE INSURANCE 25 COLA Adjustment 3120 7115 LONG-TERM DIS. INS 90 COLA Adjustment 3120 7120 MEDICARE 165 COLA Adjustment 3120 7140 PERS 1,170 COLA Adjustment 3710 7011 REGULAR EMPLOYEES 13,780 COLA Adjustment Page 4 City of Santa Clarita Line Item Detail of Expenditure Adjustments Midyear FY 2000-01 Div Acct Account Name Amount Purpose 3710 7110 LIFE INSURANCE 25 COLA Adjustment 3710 7115 LONG-TERM DIS. INS 100 COLA Adjustment 3710 7120 MEDICARE 200 COLA Adjustment 3710 7140 PERS 1,265 COLA Adjustment 3720 7011 REGULAR EMPLOYEES 4,055 COLA Adjustment 3720 7101 Health & Welfare 1,040 COLA Adjustment 3720 7110 LIFE INSURANCE 10 COLA Adjustment 3720 7115 LONG-TERM DIS. INS 30 COLA Adjustment 3720 7120 MEDICARE 60 COLA Adjustment 3720 7140 PERS 375 COLA Adjustment 3811 7011 REGULAR EMPLOYEES 2,215 COLA Adjustment 3811 7101 Health & Welfare 475 COLA Adjustment 3811 7110 LIFE INSURANCE 5 COLA Adjustment 3811 7115 LONG-TERM DIS. INS 20 COLA Adjustment 3811 7120 MEDICARE 35 COLA Adjustment 3811 7140 PERS 205 COLA Adjustment 3820 7011 REGULAR EMPLOYEES 3,340 COLA Adjustment 3820 7101 Health & Welfare 915 COLA Adjustment 3820 7110 LIFE INSURANCE 10 COLA Adjustment 3820 7115 LONG-TERM DIS. INS 25 COLA Adjustment 3820 7120 MEDICARE 50 COLA Adjustment 3820 7140 PERS 310 COLA Adjustment 3910 7011 REGULAR EMPLOYEES 7,985 COLA Adjustment & Position Upgrade 3910 7015 TEMPORARY EMPLOYEES 355 COLA Adjustment & Position Upgrade 3910 7101 Health & Welfare 720 COLA Adjustment & Position Upgrade 3910 7110 LIFE INSURANCE 85 COLA Adjustment & Position Upgrade 3910 7115 LONG-TERM DIS. INS 60 COLA Adjustment & Position Upgrade 3910 7120 MEDICARE 125 COLA Adjustment & Position Upgrade 3910 7130 WORKERS COMP 725 Position Upgrade 3910 7140 PERS 745 COLA Adjustment & Position Upgrade 4100 7011 REGULAR EMPLOYEES 5,440 COLA Adjustment 4100 7015 TEMPORARY EMPLOYEES 265 COLA Adjustment 4100 7101 Health & Welfare 885 COLA Adjustment 4100 7110 LIFE INSURANCE 10 COLA Adjustment 4100 7115 LONG-TERM DIS. INS 40 COLA Adjustment 4100 7120 MEDICARE 85 COLA Adjustment 4100 7140 PERS 505 COLA Adjustment 4301 7011 REGULAR EMPLOYEES 2,090 COLA Adjustment 4301 7101 Health & Welfare 360 COLA Adjustment 4301 7110 LIFE INSURANCE 5 COLA Adjustment 4301 7115 LONG-TERM DIS. INS 15 COLA Adjustment 4301 7120 MEDICARE 30 COLA Adjustment 4301 7140 PERS 195 COLA Adjustment 4312 7011 REGULAR EMPLOYEES 11,065 COLA Adjustment 4312 7101 Health & Welfare 2,085 COLA Adjustment 4312 7110 LIFE INSURANCE 25 COLA Adjustment 4312 7115 LONG-TERM DIS. INS 80 COLA Adjustment 4312 7120 MEDICARE 160 COLA Adjustment 4312 7140 PERS 1,015 COLA Adjustment 4321 7011 REGULAR EMPLOYEES 6,330 COLA Adjustment 4321 7101 Health & Welfare 2,325 COLA Adjustment 4321 7110 LIFE INSURANCE 15 COLA Adjustment 4321 7115 LONG-TERM DIS. INS 45 COLA Adjustment 4321 7120 MEDICARE 95 COLA Adjustment 4321 7140 PERS 580 COLA Adjustment 4331 7011 REGULAR EMPLOYEES 6,455 COLA Adjustment 4331 7101 Health & Welfare 1,110 COLA Adjustment 4331 7110 LIFE INSURANCE 15 COLA Adjustment 4331 7115 LONG-TERM DIS. INS 50 COLA Adjustment 4331 7120 MEDICARE 95 COLA Adjustment 4331 7140 PERS 595 COLA Adjustment 4332 7011 REGULAR EMPLOYEES 530 COLA Adjustment 4332 7101 Health & Welfare 90 COLA Adjustment 4332 7110 LIFE INSURANCE 5 COLA Adjustment 4332 7115 LONG-TERM DIS. INS 5 COLA Adjustment 4332 7120 MEDICARE 10 COLA Adjustment Page 5 City of Santa Clarita Line Item Detail of Expenditure Adjustments Midyear FY 2000-01 Div Acct Account Name Amount Purpose 4332 7140 PERS 50 COLA Adjustment 4352 7011 REGULAR EMPLOYEES 35 COLA Adjustment 4352 7140 PERS 5 COLA Adjustment 4353 7011 REGULAR EMPLOYEES 35 COLA Adjustment 4353 7140 PERS 5 COLA Adjustment 4354 7011 REGULAR EMPLOYEES 35 COLA Adjustment 4354 7140 PERS 5 COLA Adjustment 4355 7011 REGULAR EMPLOYEES 35 COLA Adjustment 4355 7140 PERS 5 COLA Adjustment 4357 7011 REGULAR EMPLOYEES 95 COLA Adjustment 4357 7115 LONG-TERM DIS. INS 5 COLA Adjustment 4357 7120 MEDICARE 5 COLA Adjustment 4357 7140 PERS 10 COLA Adjustment 4359 7011 REGULAR EMPLOYEES 460 COLA Adjustment 4359 7101 Health & Welfare 125 COLA Adjustment 4359 7110 LIFE INSURANCE 5 COLA Adjustment 4359 7115 LONG-TERM DIS. INS 5 COLA Adjustment 4359 7120 MEDICARE 10 COLA Adjustment 4359 7140 PERS 45 COLA Adjustment 4371 7011 REGULAR EMPLOYEES 1,845 COLA Adjustment 4371 7101 Health & Welfare 360 COLA Adjustment 4371 7110 LIFE INSURANCE 5 COLA Adjustment 4371 7115 LONG-TERM DIS. INS 15 COLA Adjustment 4371 7120 MEDICARE 30 COLA Adjustment 4371 7140 PERS 170 COLA Adjustment 4391 7011 REGULAR EMPLOYEES 1,440 COLA Adjustment 4391 7101 Health & Welfare 660 COLA Adjustment 4391 7110 LIFE INSURANCE 5 COLA Adjustment 4391 7115 LONG-TERM DIS. INS 10 COLA Adjustment 4391 7120 MEDICARE 25 COLA Adjustment 4391 7140 PERS 135 COLA Adjustment 4600 7011 REGULAR EMPLOYEES 7,100 COLA Adjustment 4600 7101 Health & Welfare 1,305 COLA Adjustment 4600 7110 LIFE INSURANCE 15 COLA Adjustment 4600 7115 LONG-TERM DIS. INS 50 COLA Adjustment 4600 7120 MEDICARE 105 COLA Adjustment 4600 7140 PERS 655 COLA Adjustment 5100 7011 REGULAR EMPLOYEES 2,735 COLA Adjustment 5100 7101 Health & Welfare 540 COLA Adjustment 5100 7110 LIFE INSURANCE 5 COLA Adjustment 5100 7115 LONG-TERM DIS. INS 20 COLA Adjustment 5100 7120 MEDICARE 45 COLA Adjustment 5100 7140 PERS 260 COLA Adjustment 5211 7011 REGULAR EMPLOYEES 3,655 COLA Adjustment 5211 7015 TEMPORARY EMPLOYEES 755 COLA Adjustment 5211 7101 Health & Welfare 720 COLA Adjustment 5211 7110 LIFE INSURANCE 5 COLA Adjustment 5211 7115 LONG-TERM DIS. INS 30 COLA Adjustment 5211 7120 MEDICARE 65 COLA Adjustment 5211 7140 PERS 385 COLA Adjustment 5230 7011 REGULAR EMPLOYEES 630 COLA Adjustment 5230 7101 Health & Welfare 180 COLA Adjustment 5230 7110 LIFE INSURANCE 5 COLA Adjustment 5230 7115 LONG-TERM DIS. INS 5 COLA Adjustment 5230 7120 MEDICARE 10 COLA Adjustment 5230 7140 PERS 60 COLA Adjustment 5501 7011 REGULAR EMPLOYEES 3,170 COLA Adjustment 5501 7101 Health & Welfare 750 COLA Adjustment 5501 7110 LIFE INSURANCE 10 COLA Adjustment 5501 7115 LONG-TERM DIS. INS 25 COLA Adjustment 5501 7120 MEDICARE 50 COLA Adjustment 5501 7140 PERS 295 COLA Adjustment 5502 7011 REGULAR EMPLOYEES 3,185 COLA Adjustment 5502 7101 Health & Welfare 680 COLA Adjustment 5502 7110 LIFE INSURANCE 5 COLA Adjustment 5502 7115 LONG-TERM DIS. INS 25 COLA Adjustment Page 6 City of Santa Clarita Line Item Detail of Expenditure Adjustments Midyear FY 2000-01 Div Acct Account Name 5502 7120 MEDICARE 5502 7140 PERS 5503 7015 TEMPORARY EMPLOYEES 5509 7011 REGULAR EMPLOYEES 5509 7140 PERS 5600 7011 REGULAR EMPLOYEES 5600 7101 Health & Welfare 5600 7110 LIFE INSURANCE 5600 7115 LONG-TERM DIS. INS 5600 7120 MEDICARE 5600 7140 PERS 7100 7011 REGULAR EMPLOYEES 7100 7101 Health & Welfare 7100 7110 LIFE INSURANCE 7100 7115 LONG-TERM DIS. INS 7100 7120 MEDICARE 7100 7140 PERS 7211 7011 REGULAR EMPLOYEES 7211 7101 Health & Welfare 7211 7110 LIFE INSURANCE 7211 7115 LONG-TERM DIS. INS 7211 7120 MEDICARE 7211 7140 PERS 7310 7011 REGULAR EMPLOYEES 7310 7101 Health & Welfare 7310 7110 LIFE INSURANCE 7310 7115 LONG-TERM DIS. INS 7310 7120 MEDICARE 7310 7140 PERS 7331 7015 TEMPORARY EMPLOYEES 7331 7120 MEDICARE 7331 7140 PERS 7411 7011 REGULAR EMPLOYEES 7411 7101 Health & Welfare 7411 7110 LIFE INSURANCE 7411 7115 LONG-TERM DIS. INS 7411 7120 MEDICARE 7411 7140 PERS 7441 7011 REGULAR EMPLOYEES 7446 7011 REGULAR EMPLOYEES 7446 7101 Health & Welfare 7446 7110 LIFE INSURANCE 7446 7115 LONG-TERM DIS. INS 7446 7120 MEDICARE 7446 7140 PERS 7456 7011 REGULAR EMPLOYEES 7456 7101 Health & Welfare 7456 7110 LIFE INSURANCE 7456 7115 LONG-TERM DIS. INS 7456 7120 MEDICARE 7456 7140 PERS 7550 7011 REGULAR EMPLOYEES 7550 7101 Health & Welfare 7550 7110 LIFE INSURANCE 7550 7115 LONG-TERM DIS. INS 7550 7120 MEDICARE 7550 7140 PERS 43501 7011 REGULAR EMPLOYEES 43501 7140 PERS 43502 7011 REGULAR EMPLOYEES 43502 7140 PERS 74951 7011 REGULAR EMPLOYEES 3710 7101 Health & Welfare C0017001 8001 Contractual Services F1003001 8001 Contractual Services Amount 50 COLA Adjustment 300 COLA Adjustment 360 COLA Adjustment 10 COLA Adjustment 5 COLA Adjustment 2,090 COLA Adjustment 540 COLA Adjustment 5 COLA Adjustment 15 COLA Adjustment 45 COLA Adjustment 210 COLA Adjustment 3,100 COLA Adjustment 540 COLA Adjustment 10 COLA Adjustment 25 COLA Adjustment 45 COLA Adjustment 290 COLA Adjustment 15,500 COLA Adjustment 4,365 COLA Adjustment 30 COLA Adjustment 110 COLAAdjustment 505 COLA Adjustment 1,825 COLA Adjustment 12,255 COLA Adjustment 2,325 COLA Adjustment 25 COLA Adjustment 90 COLA Adjustment 180 COLA Adjustment 1,145 COLA Adjustment 615 COLA Adjustment 10 COLA Adjustment 15 COLA Adjustment 11,000 COLA Adjustment 2,595 COLA Adjustment 25 COLA Adjustment 80 COLA Adjustment 165 COLA Adjustment 1,015 COLA Adjustment 25 COLA Adjustment 1,245 COLA Adjustment 360 COLA Adjustment 5 COLA Adjustment 10 COLA Adjustment 20 COLA Adjustment 115 COLA Adjustment 605 COLA Adjustment 180 COLA Adjustment 5 COLA Adjustment 5 COLA Adjustment 10 COLA Adjustment 55 COLA Adjustment 2,530 COLA Adjustment 540 COLA Adjustment 5 COLA Adjustment 20 COLA Adjustment 40 COLA Adjustment 235 COLA Adjustment 35 COLA Adjustment 5 COLA Adjustment 35 COLA Adjustment 5 COLA Adjustment 30 COLA Adjustment 3,120 COLA Adjustment Purpose (108,259) To correct funding to actual available from FY 00-01 (1,683) To correct funding to actual available from FY 00-01 Page 7 City of Santa Clarita Line Item Detail of Expenditure Adjustments Midyear FY 2000-01 Div Acct Account Name Amount Purpose F1007001 8001 Contractual Services 1,692 To correct funding to actual available from FY 00-01 F3007001 8001 Contractual Services (24,699) To correct funding to actual available from FY 00-01 F3009001 8001 Contractual Services 30,733 To correct funding to actual available from FY 00-01 F4001001 8001 Contractual Services (300) To correct funding to actual available from FY 00-01 P4003001 8001 Contractual Services (413) To correct funding to actual available from FY 00-01 S3004001 8001 Contractual Services (348) To correct funding to actual available from FY 00-01 F3010001 8001 Contractual Services (374,008) Move Funds for grading of 12 acres S3008001 8001 Contractual Services 374,008 Appropriation of funds derived from the 12 -acre property purchase to support the construction of Golden Valley Road Phase III. T1007001 8001 Contractual Services 100,000 Increase budget to reflect reimbursement of CIAC tax paid by the City. (This item is offset by revenue) F2002103 8001 Contractual Services (1,413,000) Correct Funding Source for this project M0020103 8001 Contractual Services (600,000) Budget adjustment to reflect revised availability of STPL Funding. 52040104 8001 Contractual Services 46,000 Appropriation of funds to provide for the close out the project. 53013104 8001 Contractual Services 200,000 Project was approved in the CDBG Annual Plan but not put into the 2001-2002 Budget. 53005109 8001 Contractual Services 475,000 Correct Funding from Fund 212 F0003205 8001 Contractual Services 2,567 To correct funding to actual available from FY 00-01 83002205 8001 Contractual Services 5,000 To correct funding to actual available from FY 00-01 T0014205 8001 Contractual Services 5,456 To correct funding to actual available from FY 00-01 F0003206 8001 Contractual Services 3,058 To correct funding to actual available from FY 00-01 F2002206 8001 Contractual Services (1,143) To correct funding to actual available from FY 00-01 S2001206 8001 Contractual Services (4,310) To correct funding to actual available from FY 00-01 P0010210 8001 Contractual Services (82,804) To correct funding to actual available from FY 00-01 S1001212 8001 Contractual Services (475,000) Correct Funding Source to Fund 109 P0005213 8001 Contractual Services (1,000,000) Amount was incorrectly Budgeted S1035301 8001 Contractual Services (820,113) To correct funding to actual available from FY 00-01 C3001302 8001 Contractual Services 1,027 To correct funding to actual available from FY 00-01 C3002302 8001 Contractual Services (1,200,000) To correct duplicate B&T Funds that were appropriated during the budget process. S3008302 8001 Contractual Services 272,018 This represents project savings made available in FY 2000/01 from the Golden Valley Road Phase I Project (53016302) that S3008302 8001 Contractual Services were not appropriated during the FY 2001/02 budget process. 1,925,992 Appropriation of funds derived from the 12 -acre property purchase to support the construction of Golden Valley Road Phase III. S4002453 8001 Contractual Services (10,982) To correct funding to actual available from FY 00-01 S2036457 8001 Contractual Services 5,000 To correct funding to actual available from FY 00-01 F0003801 8001 Contractual Services 960,139 To correct funding to actual available from FY 00-01 F2002801 8001 Contractual Services 1,413,000 Correct Funding from Fund 103 T0014801 8001 Contractual Services (93,250) Budget adjustment to correct fund appropriation. T1007801 8001 Contractual Services 4,815 To correct funding to actual available from FY 00-01 S1036304 8001 Contractual Services 250,000 Boquet Junction Land Acquisition 501 2367 Santa Clarita Facilities 2,000,000 As part of the Golden Valley Road Phase III Project the City is Foundation Exp. Acct making a loan to the Santa Clarita Facilities Foundation to cover shared costs associated with this project. The establishment of this account will allow City staff to track all Foundation related expenditures. Total Expenditures - All Funds ---4,T1 3, Page 8