Excess of Expenditures over Appropriations. For the year ended June 30, 2012, personnel related expenditures exceeded appropriations by approximately $74,000 due to salary adjustments (part of a multiple-year labor negotiations/concessions) that were not originally included in the budget. Likewise, contractual services in the materials and services exceed appropriations by $28,000 resulting from the temporary station arrangement with another fire agency that was implemented during the year. Both items were covered with corresponding increase in service charges. The budget revisions that were approved by the Chief Administrative Officer were within the budgeted contributions of the partner cities. Expenditures also exceeded appropriations in the Joint Training Fund by $9,500 resulting from the initial transfers of responsibility for this program to CCFD. The variance was covered by the transfer of funds from the other agencies that occurred last year.
Excess of Expenditures over Appropriations. For the year ended June 30, 2013, expenditures exceeded appropriations by approximately $314,000 resulting from overtime costs to cover a number of disabilities and unexpected vacation leaves. The excess expenditures were covered by a corresponding increase in revenues. The budget revisions that were approved by the Chief Administrative Officer were within the budgeted contributions of the partner cities.
Excess of Expenditures over Appropriations. For the year ended June 30, 2015, expenditures exceeded appropriations in the General Fund and Joint Training Fund by $908,702 and $406, respectively. The General Fund increase was primarily due to the addition of contract services to the City of Millbrae starting December 29, 2014. The increased contributions and budget were reviewed by the Board in the mid-year review. The Department maintains a cash pool which includes cash balances of all funds. The pooled interest earned is allocated to the funds based on cash balances in these funds at the end of each accounting period. It has the following cash and cash equivalents at June 30, 2015: Cash on hand $ 200 Deposits with financial institutions 4,158,464 Total cash and cash equivalents $4,158,664 The carrying amounts of the Department’s cash deposits were $4,158,664. Bank balances before reconciling items were $4,347,771 the total amount of which was collateralized or insured with securities held by the pledging financial institutions in the Department’s name as discussed below. The California Government Code requires California banks and savings and loan associations to secure the Department’s cash deposits by pledging securities as collateral. This Code states that collateral pledged in this manner shall have the effect of perfecting a security interest in such collateral superior to those of a general creditor. Thus, collateral for cash deposits is considered to be held in the Department’s name. The market value of the pledged securities must equal at least 110% of the Department’s cash deposits. California law also allows institutions to secure special districts deposits by pledging first trust deed mortgage notes having a value of 150% of the Department’s total cash deposits. The Department may waive collateral requirements for cash deposits which are fully insured up to $250,000 by the Federal Deposit Insurance Corporation. The Department, however, has not waived the collateralization requirements. NOTE 5 – CAPITAL ASSETS Major capital assets including fire stations, engines and vehicles remain the assets of the member agencies and hence are not reflected in the Department’s capital assets. Capital asset activity for the year ended June 30, 2015 was as follows: Governmental Activities Beginning Balance Increases Decreases Ending Balance Capital assets being depreciated: Machinery and equipment $140,680 $164,595 $305,275 Less accumulated depreciation for: Machinery and equipment (43,389) (46,039) (89,...
