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2 <br />Three of these projects are still active, with only the Homestead Community Center Project <br />having been completed. The total shortfall for these four projects is $1,429,470. <br />Proiects with a Shortfall <br />Twin Creeks Park (funded with 2003 Alternative Financing) $ 900,000. <br />Blackwood Farms (From County Parks Reserve) $ 400,000 <br />Homestead Community Center (project over budget) $ 17,834 <br />Lands Legacy (2004 2/3 "s Bonds) $ 111,636 <br />Total Shortfall $1,429,470 <br />The County has an existing project in the County Capital Projects Fund designated as <br />"Unallocated ". The purpose of the project is to accumulate unallocated revenues that are <br />dedicated to the County Capital Projects Fund but not yet appropriated to any one project. <br />There are $1,020,133 of unallocated resources in this project that can be appropriated for <br />capital needs. <br />Summary of Available Resources <br />13 Active Projects with Available Balances to be Closed $ 760,527 <br />3 Projects set up as Reserves to be Closed $ 111,755 <br />3 Projects with Available Balances to be Transferred $ 825,000 <br />26 Completed Projects Closed 5/18/10 $ 245,560 <br />Unallocated Revenues Sales Tax Revenues $285,733 <br />Interest Income $734,400 $1,020,133 <br />Total Available Resources $2,962,975 <br />FINANCIAL IMPACT: The appropriation unallocated revenues combined with funds from <br />closed projects will provide a total of $2,962,975 available to fund future County Capital <br />priorities. A total of $1,429,470 is needed to fund the four projects with a shortfall, $150,000 is <br />recommended to be transferred to the County Capital Reserve without designation, $50,000 is <br />recommended to be transferred to the County Capital Reserve to be reserved for Library <br />Facilities and $200,000 (included in the 2010/2011 annual budget) is recommended to be <br />transferred to County Capital Projects and $1,133,505 will remain available for future County <br />Capital priorities. <br />RECOMMENDATION(S): The Manager recommends the Board: <br />1. Appropriate $1,020,133 from Unallocated Resources and $409,337 from the <br />Fund Balance of the County Capital Projects Fund to fund the $1,429,470 <br />shortfall; and <br />