Adopted Budget (Final Document)

CITY OF MORGAN HILL - CAPITAL IMPROVEMENT PROGRAM

350 - Undergrounding – Streets & Roads

Fund Description The purpose of the Undergrounding Fund is to underground existing overhead lines throughout the City. The Fund receives revenues from developers for the undergrounding of utilities in areas of new development. Expenditures may be made from these funds only for design and construction associated with such undergrounding.

Project List

2022-23

2023-24 2024-25

2025-26

2026-27

2027-28

110020- Project Administration

$ 55,300 $

- $

- $

- $

- $

- - -

-

-

-

502023 - Undergrounding Project

1,000,000

-

Totals $ 1,055,300 $

- $

- $

- $

- $

How this Fund Generates Money for Capital Investment Fees are paid by developers of properties. Additionally, the City may receive funds or credit from PG&E to support additional undergrounding work. The City attempts to leverage both PG&E and City funding to accomplish larger undergrounding projects.

Limitations and Other Important Factors These funds must be used for undergrounding of utilities in areas of new development. Goals for Capital Investment Complete one significant undergrounding project using City and PG&E funding.

Revenues- Other includes interest income. Expenditure- Other includes annual transfers-out to the General Fund for administration.

Six-Year Pro Forma

2021-22 YE 2022-23

2023-24 2024-25 2025-26 2026-27

2027-28

Fund 350- Undergrounding Beginning Fund Balance Revenues - Impact Fees (AB1600) Revenues - Non- AB1600 RDCS

Projected

$ 1,073,838 $ 1,278,878 $ 252,028 $ 273,374 $ 294,907 $ 316,636 $ 338,563

-

-

-

-

-

-

-

20,000 9,592

20,000 2,520

20,000 2,734

20,000 2,949

20,000 3,166

20,000 3,386

200,175 6,000

Revenues - Other

Expenditures - CIP Projects

1,055,300

-

-

-

-

-

-

Expenditures - Other Ending Fund Balance

1,141

1,175

1,200

1,220

1,240

1,260

1,135

$ 1,278,878 $ 252,028 $ 273,374 $ 294,907 $ 316,636 $ 338,563 $ 360,688

pg. 17