For the Month Ending May 31, 2013

Transcription

1 Winner of the 1998 League of California Cities Helen Putnam Award of Excellence In Financial Management For the Month Ending May 31, 2013 Quick Look Indicators This Month This Year See Page Cash Balance 3 Residential Building Permits 4 Industrial & Commercial Bldg. Permits 5 Revenues 6 Expenditures 6 Investment Report 10 July 3, 2013 MANAGEMENT SERVICES DEPARTMENT

2 Executive Summary Cash Balances: The City s General Fund cash balance remains in a favorable position at $20.8 million, increasing $9.7 million from April s monthend. May 2013 s cash balance is $0.4 million higher than May 2012 s cash balance. Development Activity: Residential development construction activity through May totals 254 single family dwelling (SFD) permits (127% of the budget of 200 SFDs). Last fiscal year a total of 174 SFDs permits were issued. Revenues: General Fund revenues through May 2013 are $1.5 million lower than May 2012; contributing to the decline is the Lehman Brothers investment loss of $1.1 million and the loss of a $1.5 million interest payment from the former redevelopment agency for the Ventana property loan. Revenues are at 86.4% of the current annual budget compared to a target of 91.67%. Development related revenues have achieved 97.1% of their annual budget. Expenditures: Expenditures for the fiscal year are under budget at 88.65% compared to a target of 91.67%. Investment Report: The City s investments, through May 2013, have had a rate of return averaging 1.10%; the City s investment policy benchmark of the TwoYear Treasury Note had a return of 0.25%. Special Reports: Economic Development (page 26): In May, the City issued 116 new business licenses and has a total of 8,409 active businesses as of May 31, In May, there were 179 residential dwellings ready for occupancy based on the number of new sewer hookups. Capital Reinvestment Fund (page 27): For the ten years ending June 30, 2012, the City of Fontana expended $169.3 million from the General Fund on capital improvement projects throughout the City through this fund. As of May 2013 $7.7 million of General Fund money is budgeted in this fund on various improvement projects throughout the City. This excludes NonGeneral fund sources. MANAGEMENT SERVICES DEPARTMENT

3 CONTENTS Report Introduction. 2 Cash Balance and Cash Available.. 3 Development Activity..4 Residential Development Commercial and Industrial. 5 General Fund Revenue and Expenditure Summary... 6 General Fund Revenue Categories Revenue Highlights.. 8 Departmental Summary City and Agency Investment Report.. 10 Risk Liability Analysis. 19 Cash and Due To/From Detail Economic Development Capital Reinvestment Fund # Grants Report Customer Service Quality Assurance Survey Interchange Projects MANAGEMENT SERVICES DEPARTMENT

4 Report Introduction The following serves as an introduction to the Goals, Scope and Contents of this report. Goals: Scope: Frequency: Contents: Consistent with the City Council Goals of: To Operate in a Businesslike Manner; To Practice Sound Fiscal Management; and To Increase Citizen Involvement. This generalpurpose User Friendly financial report is designed to meet the following objectives: To provide concise information needed to gain a fair understanding of the City s financial position, results of operations and cash flows; To serve as the critical link between accounting systems and the users they are designed to serve; and To serve as an early warning document to indicate unfavorable financial events. Initially, this report s primary focus is on the fiscal events of the City s General Fund. This focus will be expanded to other financial activities of the City funds as they occur and this report matures. Current year, monthly and fiscalyeartodate (FYTD) information is provided on all charts and prior year data is provided in those areas where trend analysis is applicable. This report is not a substitute for the Comprehensive Annual Financial Report (CAFR). This report will be published monthly. This report consists of various sections as detailed on the previous page. Each schedule within these sections contains descriptive information about the schedule. Some of these reports contain graphs to aid the reader. These graphs include a current year and two prior year trend lines and, where available, a fiveyear averages trend line. These trend lines provide a meaningful comparison of current year data. Other Focus Features: Periodically, special reports will appear highlighting such fiscal areas as debt, cost allocation, long range fiscal plans, etc. Contacts Questions Suggestions: Call Lisa Strong, Management Services Director/Deputy City Treasurer Prepared by Dawn Brooks Page 2 MANAGEMENT SERVICES DEPARTMENT

5 City of Fontana, Financial Performance Report Cash Balance and Cash Available Similar to a personal bank account, the City s Cash Balance (black solid line) is the amount of money in the bank at a certain date. When other funds temporarily borrow money from the General Fund, the remaining amount is called Cash Available", (solid green line ). The "Net Monthly Cash (blue columns ) is the difference between the monthly revenues and expenditures. Occasionally, more expenditures will be paid than revenues received during the month. When this occurs, the column drops below the zero line and turns white. If this situation were continuous, a cash flow problem would develop. May's ending cash balance reflects an increase of $9.7 million as compared to April's ending balance. The City s General Fund Cash Available increased by $10.2 million since April. Other funds have temporarily borrowed $3,590,556 from the General Fund to offset negative cash balances. This advance is primarily attributable to: Measure I Reimbursement $738,173, Police Seizure $140,881, Prop 1B $1,553,445,, State COPS Grant $62,242, and After School Programs $991,287. Repayments to the General Fund will be made as funds become available. See page 20 for a listing of all funds with negative cash. FY 1213 $46,000 $43,000 $40,000 $37,000 $34,000 $31,000 $28,000 $25,000 $22,000 $19,000 $16,000 $13,000 $10,000 $7,000 $4,000 $1,000 $(2,000) $(5,000) $(8,000) $(11,000) $(14,000) $(17,000) 15% Budgeted Reserve $10.0 million FY 1213 General Fund Cash Balance and Cash Available Fiscal Year in ($000's) FY 1011 FY 0812 Average Cash Balance top line Cash Available bottom line FY 1112 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Net Monthly Cash FY 1213 Balance FY 1213 Available FY 1112 Balance FY 1112 Available FY08FY12 Avg. Bal. FY08FY12 Avg. Avail. FY 1011 Balance FY 1011 Available General Fund Cash Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Net Monthly Cash $ (9,924) $ (4,822) $ (1,350) $ (4,553) $ (911) $ 2,513 $ 9,927 $ (5,085) $ (99) $ 1,579 $ 9,717 FY 1213 Balance 13,838 9,016 7,666 3,113 2,202 4,715 14,642 9,557 9,458 11,037 20,754 FY 1213 Available 3,781 3,227 1, ,106 11,256 5,880 5,889 6,970 17,164 FY 1112 Balance 18,285 4,647 2,125 2, ,072 11,691 7,526 7,752 20,334 23,762 FY 1112 Available 10,832 (2,186) (3,827) (3,260) (5,133) (4,539) 3,749 3,074 (2,114) (2,208) 10,503 16,708 July Budgeted Transfers were recorded in the amount of $7,814,900 from the General Fund to various funds to cover operating expenditures for the fiscal year. Page 3

6 Development Activity... Residential Residential Development activity often acts as a barometer of local economic conditions. The brown thick line on the chart represents last year s building activity within the City. This year s activity is represented by the solid thick blue line. In May, the City issued 36 SFD building permits. 1,100 1, Single Family Dwellings (SFDs) Building Permits Issued for New Residential Construction City of Fontana, Financial Performance Report The following are all located north of Foothill and south of Interstate 15. The West End Development, West Gate, Summit Heights, Landings, Rancho Fontana, Sierra Lakes, Walnut Village, Northgate, Citrus Heights North, Bellgrove II, Fontana Star, Morningside, and Stratham Homes. The Hunter s Ridge Development and Coyote Canyon Development are located north of Interstate 15. The Country Club Estates Development and Sycamore Hills are located south of the Interstate10 Fwy and east of Sierra Avenue. The Southridge Development is located south of the Interstate10 Fwy and west of Sierra Ave (0). There were 3 permits issued to independently owned property (InFill & City Wide). There were 36 permits issued in the City Wide & InFill Area. Certificates of Occupancy: New sewer hookups (FYTD 340) indicate that new construction is ready for occupancy. A large number of residential housing hookups follow a large number of previously issued building permits FY HookUps Budget 200 SFDs Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Monthly FY FY Bellgrove II California Landings City Wide Citrus Heights Country Club Estates 232 Sierra Lakes 20 Southridge Stratham Group Coyote Canyon 1 Summit Heights Fontana Star Sycamore Hills Hunter's Ridge 1 Walnut Village Landings Morningside FY Residential Permits FY Residential Permits Northgate Rancho Fontana West End New West FY Average Residential Permits Page 4

7 City of Fontana, Financial Performance Report Development Activity... Commercial & Industrial Commercial and Industrial Development activity, similar to residential development, acts as a barometer of the local economic conditions. New activity in these development categories initially creates construction jobs and ultimately provides for a permanent employment base for the community. Development activity over the past several years has been light as the industry has sought existing vacant buildings. As these existing structures become occupied and the vacancy rate diminishes, new development activity starts to increase. 700,000 Sq.Ft. 600,000 Sq.Ft. 500,000 Sq.Ft. 400,000 Sq.Ft. 300,000 Sq.Ft. 200,000 Sq.Ft. 100,000 Sq.Ft. 0 Sq.Ft. 100,000 Sq.Ft. Commercial Building Permits Issued (Sq. Ft.) Budget 100,000 Sq. Ft. Monthly FY Actual FY Actual FY Actual FY Average Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun 203, ,779 44,026 The City issued 2 commercial building permits in May. The City issued 0 new industrial building permits in May. Square Footage Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Monthly ,005 4,332 13,200 41,795 FY Actual ,405 20,405 20,405 24,737 24,737 24,737 24,737 37,937 79,732 FY Actual 8,383 8,506 8,506 15,146 20,226 20,226 20,226 20,226 29,610 33,351 33,951 44,026 Notes: July Pump Beach Ave. August No Activity. September 20,005 sq ft two story vocational 9460 Sierra Ave. October No Activity. November No Activity. December 4,332 sq ft office Valley Blvd. January No Activity. February No Activity. March No Activity. April 13,200 sq ft maintenance Beech Ave. May 40,148 sq ft Foothill Blvd, 1,617 sq. ft. sales Valley Blvd. 1,500,000 Sq.Ft. 1,000,000 Sq.Ft. Industrial Building Permits Issued (Sq. Ft.) Monthly FY Actual FY Actual FY Actual FY Average 500,000 Sq.Ft. 454, ,687 Budget 200,000 Sq. Ft. Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Square Footage Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Monthly 420, ,896 1, ,412 FY Actual 420, , , , ,025 1,243,437 1,243,437 1,243,437 1,243,437 1,243,437 1,243,437 FY Actual 454, , , ,016 Notes: July 419,123 sq ft warehouse Beech Ave, 1,777 sq ft single story Boyle Ave. August No Activity. September 106,455 sq ft warehouse Tamarind Ave, 308,780 sq ft warehouse Tamarind Ave, 5,661 sq ft truck service Cherry Ave. October No Activity. November Mechanical Philadelphia Ave. December 400,412 sq ft warehouse Etiwanda Ave. January No Activity. February No Activity. March No Activity. April No Activity. May No Activity. Page 5

8 General Fund Financial Summary City of Fontana, Financial Performance Report The General Fund is comprised of such general revenue sources as taxes, fines, licenses and fees. The fund provides for such services as Public Safety, Recreation, Legislative and City Administration. The use of money in this fund is generally not restricted to specific services and projects as is the case with other city funds. Revenues The green solid line on the adjacent chart, shows that the General Fund revenues are 86.4% of the annual budget. Yeartodate total revenue is $1.5 million lower than last year s revenue levels through May's monthend. $100,000 $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 Revenues Fiscal Year ($000's) ` Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Monthly Actuals FY Actuals FY Average FY Actuals FY Budget FY Actuals Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Monthly Actuals $ 1,397 $ 4,095 $ 3,905 $ 3,192 $ 4,059 $ 6,444 $ 14,254 $ 4,995 $ 4,444 $ 7,445 $ 16,218 FY Actuals 1,397 5,492 9,397 12,589 16,648 23,092 37,346 42,341 46,785 54,230 70,448 FY Budget 6,792 13,585 20,377 27,169 33,961 40,754 47,546 54,338 61,130 67,923 74,715 81,507 FY Actuals 2,918 7,515 11,260 15,749 19,315 23,810 40,166 44,934 49,081 54,646 71,959 79,980 Expenditures The red solid line represents the General Fund expenditures actually paid and do not include $2.4 million of encumbrances (commitments made and agreed to be paid after obligations are fulfilled). The City s operating departments are on course with their expenditure plans. Additional details by department are listed on page 9. $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 Expenditures Fiscal Year ($000's) Excludes encumbrances of $2.4m Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Monthly Actuals FY Actuals FY Average FY Actuals FY Budget FY Actuals Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Monthly Actuals $ 4,850 $ 7,203 $ 5,552 $ 5,515 $ 5,303 $ 5,443 $ 5,146 $ 5,755 $ 7,361 $ 5,798 $ 5,626 FY Actuals 4,850 12,052 17,604 23,119 28,422 33,865 39,011 44,766 52,127 57,924 63,550 FY Budget 6,196 12,392 18,587 24,783 30,979 37,175 43,371 49,567 55,762 61,958 68,154 74,350 FY Actuals 5,372 10,635 17,755 22,878 28,355 33,974 39,744 44,769 52,104 57,471 63,022 68,936 Page 6

9 City of Fontana, Financial Performance Report Revenues The General Fund s 140+ revenue accounts are categorized by like types of activity on the adjacent chart. In general, revenues can be further summarized into Taxes, Fees, State Subventions and other revenues. Over onehalf of the City s General Fund revenues are derived from taxes. The top two budgeted tax revenue sources are Sales Tax (36% $29.3 million), and Property Tax (23.3% $19 million). Through May 2013, the General Fund s actual revenues received are 86.4% of the annual budget amount. Development related revenues have achieved 97.1% of their annual revenue budget. During May, construction permits were issued for 36 additional homes. MVLF revenues are being significantly affected by the economic downturn. State charges have grown far in excess of VLF collections. While state charges increased at about 10% per year, actual revenue collections have been declining. This decline, together with the State charges has caused a cash flow issue in recent months in which, following state charges, there were zero funds left to allocate to cities. $90,000 $85,000 $80,000 $75,000 $70,000 $65,000 $60,000 $55,000 $50,000 $45,000 $40,000 $35,000 $30,000 $25,000 $20,000 $15,000 $10,000 $5,000 $0 General Fund Revenue by Summary Categories Fiscal Year ($000's) Revenues Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Total FYTD Budget Actuals Sales Tax $ 1,402 $ 1,866 $ 2,075 $ 1,468 $ 1,934 $ 2,152 $ 5,377 $ 1,824 $ 2,125 $ 1,467 $ 5,196 $ 26,886 $ 29,300 $ 26,736 Business Tax ,111 5,224 5,481 Property Tax ,428 7, ,403 7,505 19,106 18,999 16,013 Franchise Fees , ,445 6,100 5,675 Motor Veh. InLieu Development ,494 3,598 3,203 Recreation ,501 2,902 2,680 Int. and Rentals (1,018) (488) 4,491 7,955 Other Revenues (552) , ,177 5,840 8,636 9,093 Reimbursables ,451 2,157 3,144 Monthly Actuals $ 1,397 $ 4,095 $ 3,905 $ 3,192 $ 4,059 $ 6,444 $ 14,254 $ 4,995 $ 4,444 $ 7,445 $ 16,218 $ 70,448 $ 81,507 $ 79,980 FY Actuals 1,397 5,492 9,397 12,589 16,648 23,092 37,346 42,341 46,785 54,230 70,448 FY Budget 6,792 13,585 20,377 27,169 33,961 40,754 47,546 54,338 61,130 67,923 74,715 81,507 FY Actuals 2,918 7,515 11,260 15,749 19,315 23,810 40,166 44,934 49,081 54,646 71,959 79,980 79,980 79,767 81,507 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Monthly Actuals FY Actuals FY Actuals FY Average FY Actuals FY Budget 76,460 Prior Yr July Interest and Rentals includes $1,105,635 for the loss on the Lehman Bros investment. Page 7

10 City of Fontana, Financial Performance Report General Fund Revenue... Highlights Two of the most significant revenue sources for the General Fund are Sales Tax and Property Tax InLieu of VLF. These two sources account for 59% of the estimated General Fund revenues. Sales Tax: Sales Tax revenues, fiscal year to date, are $26,885,966 or 92% of the annual budget of $29,300,000. Property Tax inlieu of VLF: Property Tax InLieu of VLF revenues to date are $13,956,621 or 99.3% of the total annual budget of $14,060,000. This revenue is received onehalf in February & onehalf in May. $26,000,000 $24,000,000 $22,000,000 $20,000,000 $18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 Sales Tax Revenue General Fund Fiscal Year Current Month FY Actuals FY Actuals FY Average FY Actuals FY Budget Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun $16,000,000 $15,000,000 $14,000,000 $13,000,000 $12,000,000 $11,000,000 $10,000,000 $9,000,000 $8,000,000 $7,000,000 $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 Property Tax InLieu of VLF General Fund Fiscal Year Current Month FY Actuals FY Actuals FY Actuals FY Budget Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun The Budget Act of 2004 contains a "swap" of city and county Vehicle License fee revenues for property tax revenues effective for the FY0405 budget year. This act, also known as the State's "Triple Flip" includes a permanent reduction of the VLF rate from 2% to 0.65%. The VLF backfill is eliminated and replaced with a like amount of property taxes, dollarfordollar payable in lumpsum payments twice a year in January and May. Subsequent to the FY0405 and FY0506 base years, each city's "property taxes in lieu of VLF" will increase in proportion to the growth in gross assessed valuation in the city. Remaining VLF revenue is deposited in the Motor Vehicle License Fee Account. After the State administrative charges, there are zero funds left to allocate to cities. Tax collections for Fiscal year 1998/99 ceased after December Page 8

11 City of Fontana, Financial Performance Report General Fund Expenditure Summary by Department At the end of May 2013, the Departments expenditures are running below the estimated fiscal year to date budget as illustrated by the solid red line on the chart. These expenses do not include $2.4 million of encumbrances. The Departments are on track with their expenditure plans. To date, the Departments have spent 88.65% of their annual budgets compared to a target of 91.67%. $80,000,000 $75,000,000 $70,000,000 $65,000,000 $60,000,000 $55,000,000 $50,000,000 $45,000,000 $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,000 $ General Fund Expenditures Department Summary Fiscal Year Excludes Encumbrances of $2,358,277 $68,935,670 $68,170,334 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Departments Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun City Administration $ 43,604 $ 110,688 $ 188,542 $ 203,956 $ 63,378 $ 217,596 $ 206,508 $ 155,259 $ 203,438 $ 152,392 $ 162,145 $ Human Resources 31,277 50,069 37,470 35,990 33,715 39,257 34,501 48,482 55,975 37,734 34,601 Administrative Svcs. 45,197 67,350 78,552 38,576 40,336 41,627 33,985 50,367 74,263 59,583 74,797 Community Services 841,839 1,123, , , , , , , , , ,601 Information Technology 184, , , , , , , , , , ,264 Management Services 157, , , , , , , , , , ,111 Office of the City Clerk 39,963 64,944 56,173 46,195 52,564 44,311 51,191 42, ,085 88,106 32,725 Development Services 39,442 89,789 54,670 45,709 42,053 45,828 44,513 49,279 64,232 46,928 38,983 Community Develop. 237, , , , , , , , , , ,440 Engineering 168, , , , , , , , , , ,221 Public Works 143, , , , , , , , , , ,546 Police Department 2,917,236 4,179,741 3,331,337 3,182,808 3,086,428 3,336,789 2,829,614 3,578,586 4,303,429 3,321,876 3,342,088 Monthly Actuals $ 4,849,749 $ 7,202,525 $ 5,552,200 $ 5,514,871 $ 5,302,626 $ 5,443,316 $ 5,145,602 $ 5,754,690 $ 7,361,082 $ 5,797,604 $ 5,625,522 FY Actuals 4,849,749 12,052,274 17,604,474 23,119,345 28,421,971 33,865,287 39,010,889 44,765,579 52,126,661 57,924,265 63,549,787 FY Budget 6,195,833 12,391,665 18,587,498 24,783,330 30,979,163 37,174,996 43,370,828 49,566,661 55,762,493 61,958,326 68,154,158 74,349,991 FY Actuals 5,371,553 10,634,627 17,755,156 22,878,415 28,354,820 33,973,725 39,744,391 44,768,947 52,103,511 57,471,051 63,021,824 68,935,670 74,349,991 69,149,917 Monthly Actuals FY Actuals FY Actuals FY Average Adopted FY Budget FY Actuals Page 9

12 City of Fontana, Financial Performance Report Investment Report City of Fontana May 31, 2013 Page 10

13 City of Fontana, Financial Performance Report Contents Summary of Investment Policy Summary of Cash and Investments Portfolio Analysis Interest Rate Comparison Actual to Model Comparison Pooled Investments Bond Investments Page 11

14 Summary of Investment Policy City of Fontana, Financial Performance Report Adopted by City Council January 22, 2013 Objectives: Safety, Liquidity & Yield Benchmark: TwoYear Treasury Note Target Duration: Two years 10% of Portfolio in shortterm investments Requires diversification of maturities Maximum maturity of five years Page 12

15 Summary of Cash and Investments City of Fontana, Financial Performance Report Pooled Bond Investments Funds Other Total Money Market Funds $ 69, $ 41,969, $ $ 42,038, Bankers Acceptances 0.00 Government Agency Issues 176,188, ,188, MediumTerm Notes 15,284, ,284, Local Agency Investment Fund (LAIF) 27,423, ,423, Investment Agreements 3,132, ,132, Fiscal Agent Cash Accounts Bank of America General Checking 51,652, ,652, Deferred Compensation Funds 19,110, ,110, Escrow Accounts 1, , Petty Cash/Self Insurance 310, , $ 218,964, $ 45,101, $ 71,075, $ 335,142, This report reflects all cash and investments managed by the Management Services Department and is in conformity with the Investment Policy of the City of Fontana as approved by the City Council on January 22, The investment program herein shown provides sufficient cash flow liquidity to meet City liabilities for the next six months. Page 13

16 Portfolio Analysis City of Fontana, Financial Performance Report INVESTMENT COMPOSITION: Original cost of investments held $218,964, Adjusted book value of investments held $218,843, Market value of investments held $217,824, Unrealized gain (loss) amount ($1,018,929.76) Unrealized gain (loss) percentage 0.47% Weighted average portfolio life (final maturity) 4.08 years Weighted average portfolio life (call dates) 4.08 years RETURN ON INVESTMENTS: (July 1, 2012 to May 31, 2013) MonthtoDate YeartoDate Total investment earnings $195, $2,073, Total realized gains (losses) on sales/calls $0.00 $8, Total amortized premium/discount ($8,952.51) ($61,203.41) Weighted average portfolio balance $211,711, $200,540, $250,000,000 $225,000,000 Total return on investments annualized 1.04% 1.10% COMPARATIVE MARKET RATES: 12Month May 31, 2013 Average $200,000,000 $175,000,000 Jun12 Jul12 Aug12 Sep12 Oct12 Nov12 Dec12 Jan13 Feb13 Mar13 Apr13 May13 ThreeMonth Treasury Bills 0.03% SixMonth Treasury Bills 0.06% OneYear Treasury Bills 0.12% TwoYear Treasury Notes 0.29% 0.25% FiveYear Treasury Notes 1.02% LAIF 0.25% Book Value Market Value Money Market Mutual Funds 0.03% Government Agency Issues 80.47% Medium Term Notes 6.98% Local Agency Investment Fund (LAIF) 12.52% % HISTORICAL RATES OF RETURN: VARIANCE: 0.75% 0.85% City of Fontana Fiscal Year 2003/ % To evaluate the performance of the City's portfolio, the Statement of Fiscal Year 2004/ % Investment Policy has established the twoyear treasury note as the Fiscal Year 2005/ % benchmark for comparison purposes. It is expected that yields on Fiscal Year 2006/ % City investments will regularly meet or exceed the benchmark; however, a Fiscal Year 2007/ % variance of.50% (50 basis points) plus or minus is considered reasonable Fiscal Year 2008/ % by the Investment Review Committee for evaluation purposes. Fiscal Year 2009/ % Fiscal Year 2010/ % The City rate currently exceeds the Benchmark rate by Fiscal Year 2011/ % 84 basis points due to historically low treasury rates and Fiscal Year 2012/ % onetime gains from securities called. Page 14

17 Interest Rate Comparison City of Fontana, Financial Performance Report June 2012 May Year USTN City Pool Difference 06/30/ % 1.85% +155 BPs /31/ % 1.19% +98 BPs 08/31/ % 1.16% +92 BPs 09/30/ % 1.16% +93 BPs Interest Rates Jun12 Jul12 Aug12 Sep12 Oct12 Nov12 Dec12 Jan13 Feb13 Mar13 Apr13 May13 City Pool Average City Pool Rate USTN Average 2Year USTN 10/31/ % 1.17% +87 BPs 11/30/ % 1.14% +89 BPs 12/31/ % 1.27% +101 BPs 01/31/ % 1.30% +104 BPs 02/28/ % 1.06% +83 BPs 03/31/ % 1.08% +84 BPs 04/30/ % 1.09% +88 BPs 05/31/ % 1.10% +81 BPs Average 0.25% 1.21% +96 BPs Page 15

18 Actual to Model Comparison City of Fontana, Financial Performance Report INVESTMENT PROGRAM: The purpose of the investment program is to provide procedures which: 1) Adhere to the Statement of Investment Policy. 2) Prioritize safety and liquidity. 3) Determine risk and optimize return. 4) Provide for a system of due diligence in making investment decisions. A "Model" investment portfolio has been developed to provide the strategic framework for managing and reporting on the investment portfolio. This model provides a system of due diligence and directs the tactical theme for how and why securities are bought and sold. Liquidity Actual Model Variance Sector Actual Model Variance Cash 12.56% 5.00% 7.56% Cash 12.56% 10.00% 2.56% 01 Year 0.00% 5.00% 5.00% Treasury/Agency 80.46% 60.00% 20.46% Total 12.56% 10.00% 2.56% Med Term Notes 6.98% 30.00% 23.02% Fundamentals Actual Model Variance Duration Actual Model Variance Avg Coupon 1.12% 2.48% 1.36% Cash 12.59% 18.16% 5.57% Avg Maturity (Yrs) Year 0.00% 7.80% 7.80% Avg Maturity (Call) Years 0.00% 26.44% 26.44% Avg Quality Aaa Aa2 23 Years 32.19% 21.78% 10.41% Purchase Yield 1.20% 0.26% 0.94% 34 Years 36.59% 15.21% 21.38% Effective Duration Years 18.63% 10.61% 8.02% (Duration measures the price volatility of the portfolio.) Avg Maturity Actual Model Variance Avg Maturity Actual Model Variance 01 Year 12.56% 10.00% 2.56% 01 Year 12.56% 10.00% 2.56% 12 Years 0.00% 22.50% 22.50% 12 Years 0.00% 22.50% 22.50% 23 Years 4.69% 22.50% 17.81% 23 Years 4.69% 22.50% 17.81% 34 Years 2.38% 22.50% 20.12% 34 Years 2.38% 22.50% 20.12% 45 Years 80.37% 22.50% 57.87% 45 Years 80.37% 22.50% 57.87% (Based on final maturity dates) (Based on call dates if market price is at a premium) Page 16

19 Pooled Investments City of Fontana, Financial Performance Report Face Coupon Maturity Invest Invest Purchase Cost Purchase Estimated Amort Value CUSIP # Security Description Rate Date Rating Type Date Basis Yield Mkt Value Prem/Disc 27,423,236 Local Agency Investment Fund Varies NR LAIF Varies 27,423, Varies 27,423, ,081 BNY Dreyfus Cash Mgmt Fund Varies Aaa MM Varies 69, Varies 69, ,000, AZ54 Fed Natl Mtg Assn 2.150% 08/04/15 Aaa FNMA 06/15/11 10,259, % 10,360,300 (123,014) 5,000, G5W0 General Electric Cap Corp 2.300% 04/27/17 A1 MTN 05/14/13 5,219, % 5,145,750 (2,584) 15,000, G33B4 Fed Home Loan Mtg Corp 1.000% 01/11/18 Aaa FHLMC 01/15/13 14,992, % 14,843, ,000, G0TV5 Fed Natl Mtg Assn 1.030% 01/30/18 Aaa FNMA 01/30/13 14,998, % 14,893, ,000, G1BK4 Fed Natl Mtg Assn 1.000% 02/05/18 Aaa FNMA 02/05/13 15,968, % 15,884,320 2,015 15,000, G0UE1 Fed Natl Mtg Assn 1.000% 02/14/18 Aaa FNMA 02/14/13 14,977, % 14,860,050 1,306 15,000, S9 Fed Home Loan Bank 1.100% 02/27/18 Aaa FHLB 02/27/13 15,000, % 14,912, ,000, K4 Fed Home Loan Bank 0.750% 02/27/18 Aaa FHLB 02/27/13 15,000, % 14,920, ,000, G0UN1 Fed Natl Mtg Assn 1.150% 02/28/18 Aaa FNMA 02/28/13 14,992, % 14,920, ,000, G1D97 Fed Natl Mtg Assn 0.800% 02/28/18 Aaa FNMA 02/28/13 15,000, % 14,991, ,000, G1ET2 Fed Natl Mtg Assn 1.000% 03/06/18 Aaa FNMA 03/06/13 15,000, % 14,958, ,000, G36E5 Fed Home Loan Mtg Corp 1.050% 03/26/18 Aaa FHLMC 03/26/13 15,000, % 14,902, ,000, G6W9 General Electric Cap Corp 1.625% 04/02/18 A1 MTN 05/14/13 5,057, % 4,960,600 (552) 5,000, HJL5 JP Morgan Chase & Co 1.625% 05/15/18 A2 MTN 05/15/13 5,006, % 4,906,100 (58) 15,000, G43V8 Fed Home Loan Mtg Corp 1.050% 05/15/18 Aaa FHLMC 05/15/13 15,000, % 14,871,750 0 Total Pooled Investments 218,964, ,824,187 (121,850) Market prices of securities are obtained from BNY Western Trust Company, A Subsidiary of The Bank of New York Company, Inc. Types of Investments: FFC Federal Farm Credit INVAGRMT Investment Agreement FHLB Federal Home Loan Bank LAIF Local Agency Investment Fund FHLMC Fed Home Loan Mortgage Corp MM Money Market Mutual Funds FNMA Federal National Mortgage Assn MTN Medium Term Note Page 17

20 Bond Investments City of Fontana, Financial Performance Report Face Coupon Maturity Invest Invest Purchase Cost Yield to Estimated Amort Value Security Description Rate Date Rating Type Date Basis Maturity Mkt Value Prem/Disc Held By Fiscal Agent: 0 Cash Varies NR Varies 0.00 Varies ,809,177 First American Treasury MM Varies Aaa MM Varies 34,809, Varies 34,809, ,527 BNY Hamilton Treasury MM Varies Aaa MM Varies 204, Varies 204, ,771,422 Wells Fargo Treasury Plus MM Varies Aaa MM Varies 6,771, Varies 6,771, ,343 Dreyfus Treasury Cash Mgmt MM Varies Aaa MM Varies 43, Varies 43, US Bank MM Varies Aaa MM Varies Varies ,599 Wells Fargo Advantage Govt MM Varies Aaa MM Varies 24, Varies 24, ,403 Wachovia Bank, N.A % 02/29/16 A INVAGRMT 03/04/03 778, % 778, ,120 AIG MFL 5.470% 08/26/21 Aa1 INVAGRMT 01/09/01 914, % 914, ,439,902 Rabobank International 4.360% 10/01/33 Aaa INVAGRMT 09/07/05 1,439, % 1,439,902 0 Held By Management Services Department: (2,297) Cash Varies NR Varies (2,296.72) Varies (2,297) 0 116,112 Fidelity Money Market Fund Varies Aaa MM Varies 116, Varies 116,112 0 Total Bond Investments 45,099, ,099,415 0 Market prices of securities are obtained from the fiscal agent holding the investment. Types of Investments: FFC Federal Farm Credit INVAGRMT Investment Agreement FHLB Federal Home Loan Bank LAIF Local Agency Investment Fund FHLMC Fed Home Loan Mortgage Corp MM Money Market Mutual Funds FNMA Federal National Mortgage Assn MTN Medium Term Note Page 18

21 Liability Claims Status... Fund 106 City of Fontana, Financial Performance Report Fiscal Year SelfInsurance Fund Status (Cash balances are based on daily estimates and are subject to change) Fund Balance Goal and Cost Assumptions Data Provided for May 31, 2013 Liability Projected Annual Costs Annual value of excess liability insurance $ 550,000 Other professional administrative costs 416,000 Annual claims value administered by risk Legal services 500, ,000 Miscellaneous Departmental Costs 12,000 Total Liability Projected Annual Costs $ 2,278,000 (1) Workers' Compensation Projected Annual Costs Annual value of excess liability insurance $ 100,000 Other professional administrative costs 302,000 Annual claims value administered by risk Legal services 700, ,000 Miscellaneous Departmental Costs 12,500 Total Workers' Compensation Projected Annual Costs $ 1,214,500 (1) Miscellaneous Services Projected Annual Costs Unemployment Insurance Expense $ 250,000 Risk Management is an important part of local government management with significant impact on public financial management. Risk management is interdisciplinary, involving finance, environmental management, public works, safety, transportation, parks, recreation, health, education, personnel, purchasing, and law. Risk management results in more effective use of funds that might otherwise be diverted to purchasing unnecessary or expensive insurance, replacing damaged property, or paying liability or workers' comp claims. Risk management identifies exposures that can be covered by means other than insuranceor that can be avoided completely. Risk management can lower expenditures by reducing the overall "costs of risk." Total Miscellaneous Services Projected Annual Costs $ 250,000 (1) Cash Reserves Claims Workers' Comp in reserve Risk Liability in reserve Miscellaneous reserves Risk cases CFD Litigation Total Cash Reserves Claims $ 3,446,435 1,988, ,000 Director HR/Risk Management $ 6,184,772 (2) Total Projected Annual Costs and Cash Reserves $ 9,927,272 YearEnd Cash Balance Forecast Fiscal Year 2012/2013 Available Total Budgeted Payment of Risk Liability Fund Balance Cash Budgeted Expenditures Extraordinary Surplus/(Deficit) July 1, 2012 Reserves (2) Revenues includes (1) from above Settlement Cash Balance $ 3,834,186 $ (6,184,772) $ 3,713,680 $ (3,970,070) $ $ (2,606,976) Page 19

22 City of Fontana, Financial Performance Report Cash Balance and Cash Available... All funds... Detail Listing CASH BALANCE Cash Balances Cash Balances Cash Balances Cash Balances FYs June 30, 2010 June 30, 2011 June 30, 2012 May 31, 2013 CITY FUNDS: 101 General Fund $ 20,898,854 $ 19,761,346 $ 23,762,427 $ 20,754,472 OTHER FUNDS WITH DEFICIT CASH BALANCES: 245 Measure I Nexus Projects (127,304) (2,021,489) (738,173) 702 Sewer Capital Projects (43,383) Total Other Funds With Deficit Cash Balances (127,304) (2,021,489) (781,556) GRANTS: 224 Police Seizure (140,881) 225 FSTOP (53,207) (61,145) 244 Prop IB (1,553,445) 322 State Cops AB3229 Grant (468,014) (477,821) (139,413) (62,242) Reimb requested quarterly 385 After School Programs (730,610) (1,221,846) (502,721) (991,287) Reimb requested quarterly Total Grant Funds With Deficit Cash Balances (3,374,210) (4,105,502) (1,757,612) (2,809,000) TOTAL DEFICIT CASH FUNDS (3,492,785) (4,352,667) (3,889,558) (3,590,556) GENERAL FUND CASH AVAILABLE $ 17,406,069 $ 15,408,679 $ 19,872,869 $ 17,163,916 OTHER GENERAL FUNDS: 102 Equipment Replacement $ 3,628,571 $ 3,130,953 $ 2,571,968 $ 1,622, City Facility 1,306,722 1,201,792 1,702,418 2,386, OES 107,122 96,387 46,799 15, KFON 189, , , , Selfinsurance other 6,859,705 4,772,298 3,656,152 2,170, Retirees Medical Benefits 6,199,854 8,217,692 10,787,633 13,583, Supplemental Retirement Plan 119,200 96,395 71,828 48, General Fund Operating Project 823, ,329 87,434 85, Storm Water Compliance Fund 68, , , ,710 TOTAL OTHER FUNDS 19,363,828 18,587,325 19,558,479 20,818,393 INTERNAL SERVICE FUNDS: 751 Fleet Operations 2,040,156 2,235,468 2,206,155 2,296,810 GENERAL FUND CASH AVAILABLE WITH OTHER GENERAL FUNDS $ 38,810,053 $ 36,231,473 $ 41,637,503 $ 40,279,119 Page 20

23 City of Fontana, Financial Performance Report Cash Balance and Cash Available... All funds... Detail Listing (Continued) CASH BALANCE Cash Balances Cash Balances Cash Balances Cash Balances FYs June 30, 2010 June 30, 2011 June 30, 2012 May 31, 2013 OTHER CITY FUNDS: Estimated 201 Municipal Services Fiscal Impact 17,722,338 18,044,845 18,335,705 17,874, AB2928 State Traffic Congestion Relief 2,940,924 2,069, , , Crime Prevention Seizure 120, , , , Federal Seizure 546, , ,082 1,726, AQMD 873, , , , Traffic Congestion Relief 8,263,940 7,088,937 6,080,998 4,897, Traffic Safety 1,999,290 2,272,164 2,233,353 2,174, Measure I Local PassThru 1,552,091 3,604,984 4,858, Gas Tax 610,569 1,662,742 1,770,376 1,503, Solid Waste Mitigation 7,420,951 8,476,003 5,156,606 4,103, Grants (Public Safety, Parks, etc.) (4,043,909) (1,222,025) (3,164,877) 2,885, Federal Law Enforcement Block Grant 106, Housing/Community Development Block Grants 919,672 1,839,589 2,035, Home Program 137, , , , Capital Reinvestment 22,816,391 22,583,276 20,787,568 11,513, Capital Improvement Program 361, , ,791 1,072, Future Capital Projects 1,578, San Sevaine Flood Control 5,359, , , , Upper Etiwanda Flood Control 464,673 55,515 54,221 42, Storm Drainage 18,344,698 18,421,871 18,460,585 16,063, Sewer Expansion 5,861,603 5,277,429 5,440,709 6,280, Traffic Mitigation 11,734,378 6,888,549 9,007,176 14,268, Fire Assessment 1,280, , ,848 1,087, General Government Capital 1,529,036 1,185,530 1,093,712 1,430, Landscape Improvements 1,817, ,561 1,269,562 1,454, Library Capital 73, , , , Parks Development 1,065,564 1,018,600 1,030,456 1,656, Police Capital Improvements 1,603,470 1,243,010 1,091, , Underground Utilities 342, , , , Affordable Housing Trust 104, Sewer Maintenance & Operations 7,710,857 8,100,783 7,294,543 6,781, Sewer Hookup Deposits 563, , , , Sewer Replacement 12,203,165 13,007,987 14,100,076 15,009, Water Operations 714, , , , Refundable Deposits 2,793,277 2,213,147 2,086,378 2,242,927 TOTAL OTHER CITY FUNDS $ 135,153,160 $ 126,708,041 $ 122,854,312 $ 127,067,027 Page 21

24 City of Fontana, Financial Performance Report Cash Balance and Cash Available... All funds... Detail Listing (Continued) CASH BALANCE Cash Balances Cash Balances Cash Balances Cash Balances FYs June 30, 2010 June 30, 2011 June 30, 2012 May 31, 2013 CFD/LMD/ASSESSMENT DISTRICT FUNDS: Estimated 401 Landscape Maint Dist #1 $ 2,594,731 $ 2,570,988 $ 2,593,691 $ 2,620, Landscape Maint Dist #2 Heritage 2,377,658 2,265,655 1,527,113 1,253, Landscape Maint Dist #31 Empire Center 126, , , ,525 General Fund subsidy $272, Landscape Maint Dist #3 Hunter's Ridge 1,547,364 1,786,316 1,980,297 2,172, Lighting District #3 Hunter's Ridge 61,895 59,640 63,825 54, CFD #1 Southridge 4,904,931 5,738,362 6,037,994 6,685, CFD #6 The Landings 1,892,987 2,057,978 2,247,865 2,388, CFD #61 Stratham 600, , , , CFD #62 North Morningside 236, , , , CFD #63A Bellgrove II 323, , , , CFD #7 County Club Estates 251, , , , CFD #8 Presley Development 933,849 1,003,056 1,050,576 1,073, CFD #9M Morningside 558, , , , CFD #10M Jurupa Industrial Center 128, , , , CFD #12 Sierra Lakes 2,383,610 2,464,137 2,602,514 2,520, CFD #13M Summit Heights 1,055,804 1,236,684 1,371,716 1,483, CFD #14M Sycamore Hills 636, , , , CFD #15M Silver Ridge 429, , , , CFD #16M Ventana Pointe 166, , , , CFD #18M Badiola Homes 15,175 17,564 19,807 21, CFD #20M Cottages 1 165, , , , CFD #21M Western Division 49,648 69,626 93, , CFD #23 CDS Homes 23,991 32,466 32,606 29, CFD #24M 84,778 98, , , CFD #25M 224, , , , CFD #27M 98,129 99, ,262 90, CFD #28M 408, , , , CFD #29M 100, , ,124 99, CFD #30M 437, , , , CFD #34 Empire Detention Basin 72,680 88, , , CFD #33M Empire Lighting District 69,000 91, , , CFD #31M 344, , , , CFD #32M 44,208 50,874 55,664 59, CFD #35M 1,612,796 1,953,166 2,053,906 2,103, CFD #36M 60,390 67,868 68,933 66, CFD #38M 413, , , , CFD #37 Montelago 245, , , ,324 SUBTOTAL CFD/LMD/AD FUNDS $ 25,680,749 $ 27,959,017 $ 28,627,952 $ 29,512,733 Page 22

25 City of Fontana, Financial Performance Report Cash Balance and Cash Available... All funds... Detail Listing (Continued) CASH BALANCE Cash Balances Cash Balances Cash Balances Cash Balances FYs June 30, 2010 June 30, 2011 June 30, 2012 May 31, 2013 Estimated CFD/LMD/ASSESSMENT DISTRICT FUNDS: 439 CFD #39M 55,898 59,741 61,202 64, CFD #40M 22,342 26,019 28,265 27, CFD #41M 57,506 69,330 77,082 83, CFD #42M 151, , , , CFD #44M 24,961 31,719 33,583 33, CFD #45M 193, , , , CFD #46M 142, , , , CFD #47M 16,505 20,971 21,727 20, CFD #48M 179, , , , CFD #49M 25,193 28,047 28,507 27, CFD #50M 26,355 33,131 55,562 59, CFD #51M 114, , , , CFD #53M 17,761 22,351 26,846 30, CFD #54M 28,545 40,270 45,346 47, CFD #55M 13,363 19,057 22,269 26, CFD #56M 32,888 40, CFD #57M 33,694 38,888 43,586 45, CFD #58M 5,745 6,395 6,713 6, CFD #59M 4,004 4,897 5,799 6, CFD #60M 30,565 38,222 44,242 49, CFD #61M 94, , , , CFD #62M 11,152 11,350 11,536 17, CFD #63M 86, , , , CFD #64M 4,737 9,564 14,699 19, CFD #65M 14,136 36,474 59,470 76, CFD #67M 42,180 76, , CFD #68M 24, CFD #67M 17, CFD #31 Citrus Heights North 180, , ,608 95, CFD #37 Montelago 23,396 23,967 24,389 24, CFD #4 Walnut Village Reserve 64,424 51,455 51,460 51, CFD #4 Walnut Village Debt Service 51,445 76,705 63,459 73,492 SUBTOTAL CFD/LMD/AD FUNDS 1,673,839 2,053,217 2,367,419 2,531,237 TOTAL CFD/LMD/AD FUNDS $ 27,354,588 $ 30,012,234 $ 30,995,371 $ 32,043,970 TOTAL CITY FUNDS $ 201,317,801 $ 192,951,747 $ 195,487,186 $ 199,390,116 Page 23

26 City of Fontana, Financial Performance Report Cash Balance and Cash Available... All funds... Detail Listing (Continued) CASH BALANCE Cash Balances Cash Balances Cash Balances Cash Balances FYs June 30, 2010 June 30, 2011 June 30, 2012 May 31, 2013 SUCCESSOR AGENCY TO THE FONTANA REDEVELOPMENT AGENCY (FRA), FONTANA PUBLIC FINANCE AUTHORITY, AND FONTANA HOUSING AUTHORITY FUNDS: Estimated FONTANA HOUSING AUTHORITY: 297 Low and Moderate Income Housing Fund $ $ $ $ 6,184, Fontana Housing Authority 7,391,160 2,733,240 2,204,504 1,787,032 Total Low/Mod Housing Funds 7,391,160 2,733,240 2,204,504 7,971,232 FONTANA COMMUNITY FOUNDATION FUND: 499 Fontana Community Foundation $ 60,217 $ 92,630 $ 110,128 $ 108,270 FONTANA FIRE DISTRICT: 497 Fontana Fire District $ 792,152 $ (597,652) $ (3,548,413) $ 6,017, FFD CFD ,139,939 1,322,680 1,686,414 1,978, Fontana Capital Project 2,815,622 3,525,373 4,073,702 8,584,131 Total Fontana Fire District Funds 4,747,713 4,250,401 2,211,703 16,579,521 SUCCESSOR AGENCY TO THE FONTANA REDEVELOPMENT AGENCY: 190 FRA Administration $ 165,999 $ 124,965 $ 27,243,194 $ 26,360, FRA Low/Mod 9,364,396 16,199,074 (462,219) 7,017, FRA Downtown Debt Service 831, ,253 1,023, , FRA Jurupa Hills Debt Service 242, ,532 (4,292,471) 1,858, FRA No Fontana Debt Service 20,713,342 17,859,818 9,651,083 4,576, FRA Sierra Corridor Debt Svc 5,446,646 5,213,678 4,692,527 2,163, FRA SWIP Debt Service 4,871,757 (299,911) 2,589,509 4,592, FRA Downtown Project 607, ,033 (811,829) FRA Jurupa Hills Project (25,665) (43,727) (41,574) FRA No Fontana Project 3,873,017 (1,162,407) 9,690,893 98, FRA Sierra Corridor Project 1,167,544 6,174,354 2,255,745 2, FRA SWIP Project 241,571 5,354,539 2,139,902 5,436 Total Project/Debt Service Funds 47,499,003 51,168,200 53,678,104 47,122,423 TOTAL OTHER AGENCIES FUNDS $ 59,864,092 $ 58,369,437 $ 85,447,633 $ 71,781,446 TOTAL CITY AND OTHER AGENCIES FUNDS $ 261,181,893 $ 251,321,184 $ 280,934,819 $ 271,171,562 ERAF: FY2015 $14,835,642 FY2016 $2,243,605 FY2017 $3,000,000 Page 24

27 City of Fontana, Financial Performance Report Amounts Due To/From City/FRA Funds and Approved Cash Flow Advances... Detail Listing AMOUNTS DUE TO GENERAL FUND FROM OTHER FUNDS: Principal Unpaid Interest Total Due To/From Balances Balances Balances May 31, 2013 May 31, 2013 May 31, Landscape District #31 Empire Center 272, ,100 Noninterest bearing advance TOTAL AMOUNTS DUE TO GENERAL FUND FROM OTHER FUNDS $ 272,100 $ $ 272,100 AMOUNTS DUE TO GENERAL FUND FROM FRA FUNDS: 593 FRA/North Fontana Debt Service (Jr. Lien Bonds) 31,979,034 31,979, % interest 691 FRA/Downtown Debt Service (Administrative Expenses Loan) 787, , % interest 693 FRA/North Fontana Capital Project (Ventana Land) 41,713,080 41,713, % interest TOTAL AMOUNTS DUE TO GENERAL FUND FROM FRA FUNDS $ 74,479,952 $ $ 74,479,952 TOTAL AMOUNTS DUE TO GENERAL FUND FROM OTHER FUNDS AND FRA FUNDS $ 74,752,052 $ $ 74,752,052 AMOUNTS DUE FROM MEASURE I AND CIRCULATION MITIGATION: 242 Measure I/Ciruclation Mitigation (630) 699, ,075 Noninterest bearing advance 281 Gas Tax/Circulation Mitigation (630) 808, ,020 Noninterest bearing advance 601 Capital Projects/Circulation Mitigation (630) 3,787,473 3,787,473 Noninterest bearing advance 603 Future Capital Projects/Measure I (245) 27,581,987 27,581,987 Noninterest bearing advance 603 Future Capital Projects/Circulation Mitigation (630) 9,016,483 9,016,483 Noninterest bearing advance TOTAL AMOUNTS DUE FOR SANBAG PROJECTS $ 41,893,038 $ $ 41,193,963 AMOUNTS DUE TO FUTURE CAPITAL PROJECTS FOR DIF ADVANCEMENT: 603 Capital Projects/Circulation Mitigation Fund (630) 6,920,929 6,920,929 Noninterest bearing advance TOTAL AMOUNTS DUE FOR DIF ADVANCEMENT $ 6,920,929 $ $ 6,920,929 AMOUNTS DUE TO OTHER CITY FUNDS FROM FRA FUNDS: 595 FRAERAF payment due to Housing Authority # 297 $ 20,079,247 $ 20,079,247 Noninterest bearing advance 592 FRA/Jurupa Hills Debt Service due to Sewer Capital Fund #702 3,305,829 3,305, % interest 693 FRA/North Fontana Capital Project (Ventana Land) due to MSIF #201 5,663,080 5,663, % interest TOTAL AMOUNTS DUE TO OTHER CITY FUNDS FROM FRA FUNDS $ 29,048,156 $ $ 29,048,156 AMOUNTS DUE TO/FROM BETWEEN FRA FUNDS: 691 FRA/Downtown Capital Project (Administrative Expenses Loan) due to SWIP Capital Fund #695 $ 1,140,000 $ 1,110,417 $ 2,250, % interest 692 FRA/Jurupa Hills Capital Project (Administrative Expenses Loan) due to SWIP Capital Fund #695 1,164,824 1,536,401 2,701, % interest TOTAL AMOUNTS DUE TO BETWEEN FROM FRA FUNDS $ 2,304,824 $ 2,646,818 $ 4,951,642 Page 25

28 City of Fontana, Financial Performance Report Factors Indicating the City s Economic Growth: Business Licenses: New businesses are those that first applied for a business license in that fiscal year. There were 9,220 active businesses in FY As of June 30, 2012 there were 8,533 active business licenses in the City. Businesses are recorded as renewals in the subsequent year. During the month of May 2013, 116 new business licenses were issued, primarily to ContractorSpecialty (34), ContractorGeneral (16) & Retail (24). In addition to these 116 the City received 37 other business license applications that are pending approval. As of May 31, 2013, there are 8,409 active business licenses representing a decrease of 124 since June 30, Business License accounts continue to be audited on a continuous basis and any accounts on delinquent status are removed from the Active status. "New" BL per Month Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Other Categories Contractor Specialty Contractor General Retail FYTD Total "New" BL FY1112 New BL per month Business Type Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Retail Contractor General Contractor Specialty Other Categories Total "New" BL per Month FYTD Total "New" BL ,156 1,272 FY1112 New BL per month Current FY Total Active BL 8,487 8,458 8,392 8,438 8,494 8,472 8,397 8,465 8,427 8,543 8,409 1,470 2,400 2,200 2,000 1,800 1,600 1,400 1,200 1, Total FY Active BL New Sewer HookUps: New sewer hookups indicate that new construction is ready for occupancy. A large number of residential housing hookups follow a large number of previously issued building permits. In May 2013, there were 179 new residential hookups and 1 commercial/industrial hookups. Number Issued New Sewer HookUps Fiscal Year FY HookUps FY Average FY HookUps FY Residential Permits (SFD) FY Totals Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun FY Residential FY Comm. & Ind. FY Totals FY Totals FY Totals FY Average FY Res. Permits (SFD) Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun FY Comm. & Ind FY Residential FY Totals FY Comm. & Ind FY Residential FY Totals Page 26

29 City of Fontana, Financial Performance Report Capital Reinvestment Fund #601 Fund Description: The Capital Reinvestment Fund was established in May 1998 to separate General Fund allocations for capital projects from operating funds. Its mission is to implement the City Council goal to invest 10% of the annual General Fund appropriations into discretionary infrastructure projects as defined in the SevenYear Capital Improvement Program. Revenue Source: The Capital Reinvestment Fund s main source of revenue is the General Fund. In the past 10 fiscal years, Capital Projects actual expenditures have totaled $169,266,405 through June 30, As of May 31, 2013 Project Job Number Description Capital Budget Actuals Encumbrances Remaining Budget Notes Police Department Police Upgrade/Expansion 12,563,485 9,193,654 2,448, ,814 Development Services Engineering Valley Blvd Transition District 275, , Housing Element Update 5th Cycle 25,000 25, ROW Surplus Property 20,000 10, , I10/Cherry Interchange 61,648 37,741 23, I10/Citrus Interchange 1,177,544 1,177, Sawtooth Project 1,962,319 1,902,102 60, Civic Center Parking Structure 2,760,357 2,732,867 27, Harvey/Cypress Ped Route 100,000 19,806 1,050 79, Marygld/Lombrdy Drainage 50,000 10,717 2,100 37, Sierra at Metrolink Crossing 98,180 16,324 81, I15 /Duncan CynContribution 3,530, , ,800 2,603,105 Administrative Services Charley's Parking Ph II 290, ,749 9, Civic Auditorium Reuse 185, ,348 33, Fredson RV Auto Center 600,000 1, ,204 Public Works Pavement Rehabilitation 20,396,729 19,502, , , Water Quality Management 10,000 4,890 5, San Bernardino Ave Paving 2 Party 8,440,800 6,007,075 52,446 2,381, Martin Tudor Park Redesign 1,364,690 1,326,747 37, Animal Shelter Design 15,000 15, Wayfinding Design Svcs 287, ,910 8, Vet Center 37,000 35,692 1,308 Total: $ 54,250,806 $ 43,334,169 $ 3,169,258 $ 7,747,379 Page 27

30 Grants and Rebates City of Fontana, Financial Performance Report Grants Awarded $2,584,754 $984,880 $121,600 $20,000 $2,407 $2,407 $80,384 $4,939 $4,939 $956,499 $1,000,000 $2,799,394 $44,080 $59,358 $1,000 $1,000 $200,694 $432,814 $1,031 $1,031 $10,000 $407,500 $377,713 $1,200 $1,200 $25,000 $1,258,992 $540 $52,250 $822,379 $10,760 $10,760 The City is aggressively pursuing Grant money as a source to fund projects throughout the City. The purpose of this graph and related information is to report on a monthly and year to date basis the status of grants and rebates that have been awarded during the fiscal year 2012/2013, as well as applications that have been submitted. $1,000,000 $750,000 Grant & Rebate Dollars Awarded & Applications Submitted By Department Fiscal Year 2012/2013 Grants Awarded Grants Submitted Rebates Awarded Rebates Submitted $500,000 $250,000 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Grants Submitted Rebate/Other Awarded Rebate/Other Submitted Departments Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun YTD Fontana Community Foundation City Administration Human Resources Information Technology Public Works 56,499 52,250 $108,749 Police 131, ,600 60,384 7,300 $320,828 AdmSvc/EconDev/Housing 2,365,448 $2,365,448 Engineering 900,000 $900,000 Development Services Fontana Fire District 82,762 44,080 $126,842 *Community Services 5,000 20, ,394 10,000 25,000 $253,394 Total $2,584,754 $121,600 $80,384 $956,499 $44,080 $200,694 $10,000 $25,000 $52,250 $4,075,261 Fontana Community Foundation 500,000 7,500 $507,500 City Administration Human Resources Information Technology Public Works 1,000,000 52,002 50,000 2,250 $1,104,252 Police 7, , ,000 23, ,000 13,728 $1,177,011 Admin ServicesHousing Engineering 900, , , ,651 $2,944,993 Development Services Fontana Fire District 84,880 $84,880 Community Services 20,000 2,299,394 25,000 $2,344,394 Total $984,880 $20,000 $1,000,000 $2,799,394 $59,358 $432,814 $407,500 $377,713 $1,258,992 $822,379 $8,163,030 Police 2,407 4,939 $7,346 AdmSvc/EconDev/Housing Public Works Engineering Community Services* 1,000 1,031 1,200 10,760 $13,991 Total $2,407 $4,939 $1,000 $1,031 $1,200 $10,760 $21,337 Police 2,407 4,939 $7,346 AdmSvc/EconDev/Housing Public Works Engineering Community Services 1,000 1,031 1, ,760 $14,531 Total $2,407 $4,939 $1,000 $1,031 $1,200 $540 $10,760 $21,877 * Community Services is expected to receive reimbursements of $3,306,870 for the fiscal year from the Fontana Unified School District Prop. 49 After School Education and Safety (ASES) program. Note: Amounts above include grants awarded in this Fiscal Year. These figures do not include any carryover funds or multiyear grants awarded in prior fiscal years. Page 28

31 Grant Detail City of Fontana, Financial Performance Report Grants Awarded Grant Name Funding Source Fund # Date Amount Fontana Community Foundation Public Works Oil Payment Program FY (OPP3) State 301 OCTOBER 2012 $56,499 CalRecycle Sharps Grant FY 12/13 State 101 MAY 2013 $2,250 Household Hazardous Waste Grant ProgramAwning FY12/13 State 301 MAY 2013 $50,000 Police CDFA 2012 Inedible Kitchen Grease (IKG) Targeted Enforcement Grant State 301 JULY 2012 $51,544 OTS FY 12/13 STEP Grant (Selective Traffic Enforcement Program) O.T. State 225 JULY 2012 $80,000 OTS Sobriety Checkpoint Grant Program FY1213 UC Berkley Safe TREC State 301 AUGUST 2012 $121,600 JAG 2012 Edward Byrne Memorial Grant (Patrol Personnel) Federal 321 SEPTEMBER 2012 $60,384 ABC Law Enforcement Mini GrantMinor Decoy & Shoulder Tap State 301 JANUARY 2013 $7,300 Administrative Services/Economic Development/Housing Community Development Block Grant (CDBG) Program 12/13 Federal 362 JULY 2012 $1,769,139 HOME Investment Partnerships Program (HOME) 12/13 Federal 363 JULY 2012 $379,525 Emergency Solutions Grant (HESG) Program 12/13 Federal 362 JULY 2012 $165,289 Emergency Solutions Grant (HESG) Program 11/12 Federal 362 JULY 2012 $51,495 Engineering Highway Safety Improvement Program (HSIP) Cycle 5 Federal 301 OCTOBER 2012 $900,000 Development Services Fontana Fire District AFG Fire Prevention and Safety FY 2011 Federal JULY 2012 $82,762 DHS/FEMA AFG FY 2012 Equipment/Facility Modification Federal 301 DECEMBER 2012 $44,080 Community Services Kaiser Community Benefit Grant Little Sprouts in MotionParent Component Foundation 101 JULY 2012 $5,000 CA Healthy Cities & Communities Fontana Farmers' Market Program 2012 Foundation 101 SEPTEMBER 2012 $20,000 CA Healthy Cities & Communities Fontana Farmers' Market Program 2012 Foundation 101 JANUARY 2013 $10,000 USDA Network for Healthy CA San Bernardino County SNAPED 12/13 Federal 301 JANUARY 2013 $193,394 Healthy Living through Gardening & Physical Activity Kaiser FY1213 Foundation 101 MARCH 2013 $25,000 Total through June 2013 $4,075,261 Grant Applications Submitted Fontana Community Foundation Well Fargo Foundation FRST (Fontana Reentry Support Team) Foundation 499 FEBRUARY 2013 $7,500 AWARDED Artplace America Miller Amphitheater Foundation 301 NOVEMBER 2012 $500,000 NOT FUNDED Human Resources Public Works SAWPA/Storm Water Flood Management Grant Vulcan Pit & Aquifer Project State 301 OCTOBER 2012 $1,000,000 CalRecycle Beverage Container Collection Program FY 12/13 State 301 DECEMBER 2012 $52,002 Household Hazardous Waste Grant ProgramAwning FY12/13 State 301 FEBRUARY 2013 $50,000 AWARDED CalRecycle Sharps Grant FY 12/13 State 101 APRIL 2013 $2,250 AWARDED Police OTS Sobriety Checkpoint Grant Program FY1314 UC Berkley Safe TREC State 301 JANUARY 2013 $267,814 OTS FY 13/14STEP Grant (Selective Traffic Enforcement Program) O.T. State 225 JANUARY 2013 $165,000 ABC Law Enforcement Mini GrantMinor Decoy & Shoulder Tap FY1213 State 301 DECEMBER 2012 $7,356 AWARDED ABC Law Enforcement Mini GrantMinor Decoy & Shoulder Tap FY1314 State 301 MARCH 2013 $23,113 DOJ Smart Policing Initiative Federal 301 FEBRUARY 2013 $350,000 NOT FUNDED BJA Encouraging Innovation FY 13:Field Initiated Program Federal 301 APRIL 2013 $350,000 COPS Hiring Program (CHP) FY 13/14 Federal 301 Bulletproof Vest Partnership FY 2013 Federal 301 MAY 2013 $13,728 Administrative Services/Economic Development/Housing Engineering Highway Safety Improvement Program (HSIP) Cycle 5 Federal 301 JULY 2012 $900,000 AWARDED Environmental Justice Transportation Grant San Sevaine Trail State 301 MARCH 2013 $149,600 Community Based Transportaion Planning GrantMalaga Bridge State 301 MARCH 2013 $180,000 Urban Greening Project Grant Program Round 3 State 301 APRIL 2013 $906,742 SANBAG Bicycle & Pedestrian FacilitiesJuniper at grade Crossing Other 301 MAY 2013 $750,000 AWARDED SANBAG Transit Stop Access Improvements 28 Bus Stops Other 301 MAY 2013 $58,651 AWARDED Development Services Fontana Fire District DHS/FEMA AFG FY 2012 Equipment/Facility Modification Federal 301 JULY 2012 $84,880 AWARDED Community Services CA Healthy Cities & Communities Fontana Farmers' Market Program 2012 Foundation 101 AUGUST 2012 $20,000 AWARDED USDA Network for Healthy CA San Bernardino County SNAPED 12/13 Federal 301 NOVEMBER 2012 $193,394 AWARDED 21st Century Community Learning Center (Cohort 8) State 101 NOVEMBER 2012 $2,106,000 NOT FUNDED Healthy Living through Gardening & Physical Activity Kaiser FY1213 Foundation 101 MARCH 2013 $25,000 AWARDED Total through June 2013 $8,163,030 Page 29

32 Rebates, Donations & other Awards Detail Awarded Name Police Funding Source Fund # Date Cash Amount Value Amount City of Fontana, Financial Performance Report National Night Out 2012Multiple Donors 101 AUGUST 2012 $377 National Night Out 2012Target 101 AUGUST 2012 $1,260 National Night Out 2012Gold Coast Hotel Las Vegas 101 AUGUST 2012 $120 National Night Out 2012Four Queens Hotel Las Vegas 101 AUGUST 2012 $150 National Night Out 2012SouthPoint Hotel Las Vegas 101 AUGUST 2012 $300 National Night Out 2012Raging Waters 101 AUGUST 2012 $100 National Night Out 2012Mission Foods 101 AUGUST 2012 $100 Safety and Preparedness FairMultiple donors under $ SEPTEMBER 2012 $240 Safety and Preparedness Fair Target Stores 101 SEPTEMBER 2012 $2,500 Safety and Preparedness FairLegoland 101 SEPTEMBER 2012 $195 Safety and Preparedness FairStater Bros 101 SEPTEMBER 2012 $100 Safety and Preparedness FairOntario Reign Hockey/Citizen's Bank 101 SEPTEMBER 2012 $100 Safety and Preparedness FairMedival Times 101 SEPTEMBER 2012 $120 Safety and Preparedness FairMagic Mountain Theme Parks 101 SEPTEMBER 2012 $122 Safety and Preparedness FairBMI 101 SEPTEMBER 2012 $140 Safety and Preparedness FairCostco 101 SEPTEMBER 2012 $250 Safety and Preparedness FairO.E.S. 101 SEPTEMBER 2012 $100 Volunteer Appreciation PicnicMultiple donors under $ SEPTEMBER 2012 $225 Volunteer Appreciation PicnicCenter Stage 101 SEPTEMBER 2012 $100 Volunteer Appreciation PicnicLakers 101 SEPTEMBER 2012 $205 Volunteer Appreciation PicnicTarget South EndFrank 101 SEPTEMBER 2012 $100 Volunteer Appreciation PicnicKiwanis 101 SEPTEMBER 2012 $150 Volunteer Appreciation PicnicSea World 101 SEPTEMBER 2012 $292 Administrative Services/Economic Development/Housing Redevelopment Engineering Community Services Fontana Days RunCrystal Geyser Spring Water 101 JANUARY 2013 $1,031 Fontana Days RunMassage Envy 101 MARCH 2013 $1,200 Festival of Winter 2013 Rio Ranch Market 101 DECEMBER 2013 $1,000 Fontana Car Show A & A Auto sales 101 MAY 2013 $2,000 Fontana Days Run Farmer Boys 101 MAY 2013 $800 City Programs Boys & Girls Club of Fontana 101 MAY 2013 $6,960 Fontana Car Show R & B Auto Center 101 MAY 2013 $1,000 Total through June 2013 $6,650 $14,687 Applications Submitted Police National Night Out 2012Multiple Donors 101 AUGUST 2012 $377 National Night Out 2012Target 101 AUGUST 2012 $1,260 National Night Out 2012Gold Coast Hotel Las Vegas 101 AUGUST 2012 $120 National Night Out 2012Four Queens Hotel Las Vegas 101 AUGUST 2012 $150 National Night Out 2012SouthPoint Hotel Las Vegas 101 AUGUST 2012 $300 National Night Out 2012Raging Waters 101 AUGUST 2012 $100 National Night Out 2012Mission Foods 101 AUGUST 2012 $100 Safety and Preparedness FairMultiple donors under $ SEPTEMBER 2012 $240 Safety and Preparedness Fair Target Stores 101 SEPTEMBER 2012 $2,500 Safety and Preparedness FairLegoland 101 SEPTEMBER 2012 $195 Safety and Preparedness FairStater Bros 101 SEPTEMBER 2012 $100 Safety and Preparedness FairOntario Reign Hockey/Citizen's Bank 101 SEPTEMBER 2012 $100 Safety and Preparedness FairMedival Times 101 SEPTEMBER 2012 $120 Safety and Preparedness FairMagic Mountain Theme Parks 101 SEPTEMBER 2012 $122 Safety and Preparedness FairBMI 101 SEPTEMBER 2012 $140 Safety and Preparedness FairCostco 101 SEPTEMBER 2012 $250 Safety and Preparedness FairO.E.S. 101 SEPTEMBER 2012 $100 Volunteer Appreciation PicnicMultiple donors under $ SEPTEMBER 2012 $225 Volunteer Appreciation PicnicCenter Stage 101 SEPTEMBER 2012 $100 Volunteer Appreciation PicnicLakers 101 SEPTEMBER 2012 $205 Volunteer Appreciation PicnicTarget South EndFrank 101 SEPTEMBER 2012 $100 Volunteer Appreciation PicnicKiwanis 101 SEPTEMBER 2012 $150 Volunteer Appreciation PicnicSea World 101 SEPTEMBER 2012 $292 Administrative Services/Economic Development/Housing Engineering Community Services Fontana Days RunCrystal Geyser Spring Water 101 JANUARY 2013 $1,031 Fontana Days RunMassage Envy 101 MARCH 2013 $1,200 Festival of Winter 2013 Rio Ranch Market 101 DECEMBER 2013 $1,000 Fontana Car Show A & A Auto sales 101 MAY 2013 $2,000 Fontana Days Run Farmer Boys 101 MAY 2013 $800 City Programs Boys & Girls Club of Fontana 101 MAY 2013 $6,960 Fontana Car Show R & B Auto Center 101 MAY 2013 $1,000 Fontana Days Run 101 APRIL 2013 $540 Total through June 2013 $6,650 $15,227 Page 30

33 City of Fontana, Financial Performance Report Development Services Organization Customer Service Quality Assurance Each month the Development Services Organization sends 90 surveys to a random sampling of customers. There were 15 survey cards received in May. The surveys request a rating of the level of customer assistance that was received. A rating of 1 is below expectations. A rating of 5 is above expectations. The survey also invites the customer to comment on the service that was received. The following charts summarize the responses received. The Development Services front counter staff assisted 1,330 customers in May which equates to 78 customers per day. Survey Rating MARCH 2013 (14 surveys returned) APRIL 2013 (15 surveys returned) Survey Rating Surveys Returned MAY 2013 Current (15 surveys returned) Survey Rating Surveys Returned Surveys Returned Page 31

34 City of Fontana, Financial Performance Report INTERCHANGE PROJECTS As of the Work this Total Work % Completed As of the Work this Total Work % Completed 30th of month Completed Construction Budget 30th of month Completed Construction Budget FY 08/09 $ $ 77, % 0.76% FY 08/09 $ 1,976,968 $ 1,976, % 5.8% FY 09/ , % 0.76% FY 09/10 583,862 2,560, % 7.5% FY 10/11 386, , % 4.57% FY 10/11 1,971,967 4,532, % 13.3% FY 11/12 33, , % 4.90% FY 11/12 1,193,606 5,726, % 16.8% FY 12/13 FY 12/13 July (6,769) * 490, % 4.83% July 2,567 5,728, % 16.8% August 11, , % 4.94% August 221,760 5,950, % 17.5% September 2, , % 4.97% September 14,222 5,964, % 17.5% October 38, , % 5.35% October 90,238 6,055, % 17.8% November 2, , % 5.37% November 256,712 6,311, % 18.5% December 2, , % 5.40% December 1,234,879 7,546, % 22.2% January 2, , % 5.42% January 1,358,150 8,904, % 26.2% February 1,546,970 2,097, % 20.66% February 340,742 9,245, % 27.2% March 3,407 2,100, % 20.69% March 1,588,465 10,834, % 31.8% April 2,462 2,103, % 20.71% April 836,180 11,670, % 34.3% May 2,481 2,105, % 20.74% I10/Citrus Inception to date Expenditures May 1,384,740 13,055, % 38.4% June I10/CHERRY INTERCHANGE I10/Cherry Inception to date Expenditures Budgeted Funding Sources: Construction Cost: As of the Work this Total Work % Completed 601 Capital Reinvestment $ 62,000 Administrative $ 107,500 30th of month Completed Construction Budget Budgeted Funding Sources: Construction Cost: 630 Circulation Mitigation 9,989,500 Environmental FY 05/06 $ $ 432, % 1.5% 244 Prop 1B $ 13,972,000 Administrative 695 SWIP Capital Projects 103,000 Land Acquisition/ROW 2,474,000 FY 06/07 16, , % 1.6% 601 Capital Reinvestmen 3,530,000 Environmental Design 50,000 FY 07/08 740,331 1,189, % 4.2% 622 Storm Drain 5,900,500 Land Acquisition/ROW Construction 7,523,000 FY 08/09 1,247,909 2,437, % 8.5% 630 Circulation Mitigatio 5,500,000 Design Utilities FY 09/10 3,560,974 5,998, % 21.0% 693 North Fontana Cap P 5,128,000 Construction Other Costs (CAP ACQ) FY 10/11 2,189,807 8,187, % 28.7% Utilities FY 11/12 2,675,687 10,863, % 38.0% Other Costs (CAP ACQ) Total Funding Sources $ 10,154,500 Total Construction $ 10,154,500 FY 12/13 July 652,891 11,516, % 40.3% Total Funding Sources $ 34,030,500 Total Construction August 30,646 11,547, % 40.4% September 49,274 11,596, % 40.6% October 1,800,677 13,397, % 46.9% November 7,187 13,404, % 46.9% December 110,317 13,514, % 47.3% January 134,577 13,649, % 47.8% February 56,879 13,706, % 48.0% March 11,779 13,717, % 48.0% April 66,186 13,784, % 48.3% May 28,717 13,812, % 48.4% June Budgeted Funding Sources: Construction Cost: 242 Measure I $ 700,000 Administrative 245 Measure I Nexus 2,957,000 Environmental 281 Gas Tax (State) 860,000 Land Acquisition/ROW 301 Grants 3,238,000 Design 302 Transp Enhancement Construction 601 Capital Reinvestment 1,177,000 Utilities 920, Circulation Mitigation 18,155,000 Other Costs (CAP ACQ) 695 SWIP Capital Projects 1,465,000 Total Funding Sources $ 28,553,000 Total Construction $ 2,760,000 5,400,000 4,934,000 14,540,000 $ 28,553,000 June I15/DUNCAN CANYON I15/Duncan Canyon Inception to date Expenditures Estimated Completion August 2014 Estimated Completion June 2014 Project currently in the Design Phase I10/CITRUS INTERCHANGE Estimated Completion March 2014 Project currently in the Construction Phase Project currently in the ROW Acquisition Phase $ 721,000 1,496,000 4,108,000 27,705,500 $ 34,030,500 * Negative amounts in the month of July is due to yearend accrual reversals. Page 32