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<br /> <br />V. Water/Sewer Replacement Fund (Page 37) <br /> <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 & Sewer Enterprise Fund. <br /> <br />Significant Highlights in Future Years: <br />Large meter replacements are included at $30,000 per year starting in 2022. A sewer slip-lining project <br />is in included in 2022 at $200,000. A Met Council I/I grant has been included for this project at $50,000. <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. A rate study was completed in 2020. The rate study identified increases of 3% to <br />4% per year would be needed in order to fund the operations, debt service, and capital outlay. The <br />water tower is scheduled to be painted in 2034 which is the large expenditure in 2034. <br /> <br /> <br /> <br /> $- <br /> $50,000 <br /> $100,000 <br /> $150,000 <br /> $200,000 <br /> $- <br /> $50,000 <br /> $100,000 <br /> $150,000 <br /> $200,000 <br />Fund BalanceRevenues and Expenditures10% Fund <br />Revenues Expenditures Fund Balance <br /> $- <br /> $500,000 <br /> $1,000,000 <br /> $1,500,000 <br /> $2,000,000 <br /> $2,500,000 <br /> $- <br /> $200,000 <br /> $400,000 <br /> $600,000 <br /> $800,000 <br /> $1,000,000 <br /> $1,200,000 <br /> 2019 Actual 2020 Actual 2021 Est2022202320242025202620272028202920302031203220332034Fund BalanceRevenues and ExpendituresWater and Sewer Capital Fund <br />Revenues Expenditures Fund Balance