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<br />Water/Sewer Replacement Fund (Pages 36)
<br />Background
<br />This fund is used to account for funds set aside from the City’s water and sewer operating utilities to be
<br />used for future equipment replacement and capital costs for the City’s utilities.
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<br />Source of Funds
<br />The Fund receives an annual operating transfer from the Water Enterprise Fund ($200,000) and Sewer
<br />Enterprise Fund ($100,000).
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<br />Fund Outlook
<br />The debt service payment for the public works facility is funded from this fund. This debt will not be
<br />retired until 2034. While there are sufficient revenues to fund the expenditures identified in this fund
<br />for the next five years, the fund will deplete the reserves by 2028. A utility rate study is in progress to
<br />identify possible solutions.
<br /> 2019 Estimate 2020 2021 2022 2023 2024
<br />Revenues $356,263 $333,475 $336,100 $333,200 $332,000 $329,300
<br />Debt Service Transfer Out 229,225 227,770 229,925 226,925 233,175 229,175
<br />Expenditures 573,518 380,330 236,450 341,960 195,780 316,810
<br />Net inc./(dec.) in fund balance (446,480) (274,625) (130,275) (235,685) (96,955) (216,685)
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<br />Beginning Fund Balance $2,414,413 $1,967,933 $1,693,308 $1,563,033 $1,327,348 $1,230,393
<br />Ending Fund Balance $1,967,933 $1,693,308 $1,563,033 $1,327,348 $1,230,393 $1,013,708
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<br />CONCLUSION
<br />City staff has prepared this document in conjunction with those projects and capital items that are
<br />known and for which costs can be reasonably estimated. The CIP should be considered a planning tool
<br />and the projects included for 2020 and 2021 serve as a work plan for staff. 2020 projects will be
<br />included in the 2020 Budget that will be adopted by Council in December. For 2021 projects, staff will
<br />request authorization from Council before proceeding with a feasibility study, acquisition, or
<br />construction.
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