The May 2 Study Session Agenda includes Workshop #2 on the Town's Budget - Special Funds and the Capital Improvement Program. The Budget is Item #2 on the Agenda - visit the Agenda Archive for more details!
The Town maintains a variety of special revenue and internal service funds that are "restricted funds" for specific purposes that assist in maintaining the Town General Operations. These special funds include the Library Fund, the Tennis Fund, COPS Grant Fund, Special Parcel Tax, Equipment Replacement Fund, Workers' Compensation Fund, General Liability Fund and the Employee Benefits Fund. Special revenue funds are used to account for revenues derived from specific sources. Revenues to these funds are usually required by aw or administrative regulation to be accounted for in a separate fund. Revenue to an Internal Service Fund - such as the Employee Benefits Fund, Equipment Replacement Fund or Workers' Compensation Fund are in the form of specific charges to each Town Department based on allocations of departmental use or need.
Capital Improvement Program
The Town's Capital Improvement Program or "CIP" is a five-year program that proposes projects to analyze, repair or improve Town infrastructure, and the funding for those specific projects. In addition to the Town's General Fund, revenue to the CIP consists of eight (8) capital improvement fund sources that include:
- Measure M - County Congestion Management Fee on Vehicle Registration
- Measure A - County 1/2-Cent Transportation Sales Tax
- Gas Tax
- Facilities Building Fund
- Atherton Channel Fund
- Measure S - Special Parcel Tax (expires June 30, 2018)
- Library Fund
The 1st year of the 5-Year CIP (FY 2018/19) is the only year for which the City Council applies available funding. Each of the future years of the CIP are planning years that reflect proposed projects and possible funding sources. These "out years" are revised annually to reflect changes in Council priorities, direction, needs and available funding.