HomeMy WebLinkAboutMinutes - 2/24/1999 - Finance and Personnel Committee (3) �
FINANCE/PERSONNEL COMMITTEE
TO: Finance/Personne C i
FROM: John A. Lobaito, Administrator
FOR: February 24, 199 ommittee Meeting
RE: Revenue Projections for Water/Sewer Fund
Enclosed are the revenue projections for the water and sewer fund. The year-end
revenue projections for both water and sewer will come in very close to the budgeted
amount. The forecasted revenues in the Sewer Department reflect an overall growth
of 5.4%, 5.7%, and 2.5% respectively. The forecasted revenues in the Water
Department reflect an overall growth of 5.4%, 6.8%, and 1 .7%.
Sewer Revenue
The year-end revenues for sewer sales is projected to be 10% higher than last year's
`,, sales. This can be partially attributed to the increase in the rates (30% over three
years). The next two forecasted years are increased 8% and the last forecasted year
is only increased by 2.9% due to no expected increase in the rate.
The sewer connection revenue estimate is based on 1 18 new housing starts. This is
a five year historical average. Debt service (S3/month) remains relatively flat, with an
historical increase of approximately 1 .8% annually. Bond and Interest, Bond Reserve,
and Depreciation Reserve Fund are all interest revenue from the specific fund. Interest
earned in these funds is transferred to the Sewer and Water Fund for general
operation. The balances kept in these funds from which the interest revenue is
� , derived, are dictated by the bond ordinances.
Water Revenue
The year-end revenues for water sales is expected to be approximately 20% higher
than actual sales in 1998. As with the sewer sales, this increase is partly due to the
increase in the rates. Similar to the sewer sales forecast, the forecasted water sales
revenue has been increased 8% the first two years and 2% in the last year.
In estimating future revenues for "water hookup fees" (connections), the same
assumption used for sewer connections was used; 118 new housing starts at
5250/connection is approximately $30,000 annually. Revenue from water meter sales
�, was estimated by a conservative look at the trend.
' ' Finance/Personnel Committee Meeting
February 24, 1999
Page Two
� The origin of the interest revenue for bond and interest, bond reserve, and
depreciation reserve, is the same as described previously. The interest revenue from
the bond and interest fund is less than the revenue for the same fund in the sewer
division. The interest earned is split between both water and sewer divisions at 75%
for the sewer division, and 25% for the water division. This is roughly the same ratio
for the repayment of the bonds.
mmg
Enc.
�
�
CITY O M . ..RY 1999-2000 BUD(iET PRE ARATION
WATE SEWER FUND-FEBRUARY 22,1899 '�
�-3U�5 4-30�88 4�,10-87 430,98 1888A9 1998�8 1998-99 1999-2000 2000-2001 2001-2002
ACCT WATER SEWER FUND 51 ACTUAL ACTUAL ACTUAL ACTUAL BUDOET YTD 1Yf111 PROJECTED YIE ESTIMATE ESTIMATE ESTIMATE
SEWER DIVISION-REVENUE
315 interest Eamed 58,970 $10,248 $18,838 $34,185 $30,000 $5,303 $28,000 $25,000 $25,000 $25,000
350 SewerSales $920,329 $1,037,029 $1,047,808 $1,061,665 $1,155,000 $802,174 $1,175,000 $1,270,000 $1,360,000 $1,400,000
351 Sewer Penafties $21,471 $24,480 $30,509 $28,750 530,000 $18.857 528,000 528,000 $30,d00 $30,000
352 Sewer Connections $28,150 $17,775 $22,800 $34,375 $25,000 $30,000 $37,500 $30,000 $30,000 $30,000
354 Sewer Reca ture Fees $3,100 $17 $786 31,142 $1.000 $109 $500 $1,000 $1,000 $1,000
358 DebtService $260.659 $265,377 $271,870 $275,477 $280,000 $184.659 $280,000 $284,000 $288,000 $292.000
360 Other Income $8,403 $8,692 $8,922 38,686 $10,000 $5,994 38,000 $8,000 $9,000 $10,000
380 Grant Proceeds $0 $0 $10,000 $175,000 $0 $0 $0 SO 30 50
364 Bond&Interest Trfr. $25,565 $30,085 $28,050 $28,274 $22,200 $0 522,200 $24,000 $24,000 $24,000
365 Bond Reserve Trfr. $20,544 $33.216 $30,228 $40,061 $12,500 $0 $12,500 312.000 $12,000 572,000
366 De r.Reserve Transfer $5,340 $28,206 $18,453 $8,474 $7,500 $0 $7,500 34,500 54,500 54,500
-370 General Fund Transfer $0 $84,186 $150,000 $0 $0 $0 $0 30 SO SO
'375 Annex.Fund Transfer SO $0 $76,709 $15,000 30 $0 $0 SO $0 SO
Total $1 302 531 $1 539 311 S1 714 973 $1 711 089 S7 573 200 $1 047,096 $1,599 200 $1 686,500 S1 783 500 $1 828 500
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CITY O M �._�JRY 1999•2000 BUDCiET PRE ARATION
WATE SEWER FUND-FEBRUARY 22,1999 �
ACCT. 4-30-95 4�30-96 4-30-97 4-30�8 1998-99 i89&99 198@-89 1999-20D0 2000-2001 2001-2002
NO. WATER SEWER FUND 51 ACTUAL ACTU/LL ACTUAL ACTUAL BUDGET YTD 12131 PROJ. YlE ESTIMATE ESTIMATE ESTIMATE
WATER DNISION-REVENUE
315 Interest Eamed $8.970 $10,248 578,838 $34.185 530,000 $8,028 $28,000 $25,000 $25,000 325,000
350 Water Sales $583,966 $652,408 $658,229 $666.556 $810,000 3570.598 $810,000 $874,000 $940.000 3958,000
351 Penalties 315,053 $15,380 $21,661 $21,437 527,000 $15,028 $21,000 $21.000 322,000 322,000
-----._ _ ------_ __ __---- ------- - - -- -- _ _..__ _
352 Water Hooku Fees------ . - $16,675 $17.625 $22,230 $32,750 $25.000 $26,500 $34,000 330.000 $30,000 $30,000
353 Water Meter Sales $12,246 $5,882 $11,026 514,079 $10,000 $14,162 $16,000 $13,000 $13,000 $13,000
360 Other Income $3.524 $2,377 $8,682 $1,496 $5,000 $1,'188 $2,000 32,000 52,000 52,000
364 Bond&interest Trfr. $3,160 $3,718 $3,467 $3,495 $2,800 $0 $2,800 $3,000 53,000 $3,000
365 Bond Reserve Transfer $2,539 34,105 $3,736 $4,951 $12,500 SO 512.500 $12,000 $12,000 512,000
366 De .ReserveTransfer $660 33,486 52,281 $1,057 $7.500 $0 $7,500 $4,500 34.500 54.500
Total $646,793 $715 229 $750150 5780 006 $923.800 �635 504 $933 800 $984 500 51,051 500 $1,069 500
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