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from this fund through 2025. There are sufficient revenues to fund the expenditures identified for the
<br />next five years.
<br /> 2020 Estimate 2021 2022 2023 2024 2025
<br />Revenues $22,600 $22,900 $23,000 $23,200 $23,300 $23,500
<br />Expenditures - 7,500 7,500 7,500 7,500 7,500
<br />Net inc./(dec.) in fund balance 22,600 15,400 15,500 15,700 15,800 16,000
<br />
<br />Beginning Fund Balance $63,147 $85,747 $101,147 $116,647 $132,347 $148,147
<br />Ending Fund Balance $85,747 $101,147 $116,647 $132,347 $148,147 $164,147
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<br />Water/Sewer Replacement Fund (Page 37)
<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.
<br />
<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).
<br />
<br />Fund Outlook
<br />The entire debt service payment for the public works facility is funded from this fund. This debt will not
<br />be 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 have less than $500,000 in reserves by 2030. A utility rate study is in
<br />progress to identify possible solutions.
<br /> 2020 Estimate 2021 2022 2023 2024 2025
<br />Revenues $360,888 $331,900 $331,900 $332,000 $329,300 $329,300
<br />Debt Service Transfer Out 228,785 229,925 226,925 233,175 229,175 230,175
<br />Expenditures 238,936 149,470 466,100 213,340 321,580 209,620
<br />Net inc./(dec.) in fund balance (106,833) (47,495) (361,125) (114,515) (221,455) (110,495)
<br />
<br />Beginning Fund Balance $2,033,768 $1,926,935 $1,879,440 $1,518,315 $1,403,800 $1,182,345
<br />Ending Fund Balance $1,926,935 $1,879,440 $1,518,315 $1,403,800 $1,182,345 $1,071,850
<br />
<br />CONCLUSION
<br />City staff has prepared this document in conjunction with those projects and capital items that are known
<br />and for which costs can be reasonably estimated. The CIP should be considered a planning tool and the
<br />projects included for 2021 and 2022 serve as a work plan for staff. 2021 projects will be included in the
<br />2021 Budget that will be adopted by Council in December. For 2022 projects, staff will request
<br />authorization from Council before proceeding with a feasibility study, acquisition, or construction.
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