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MEMO TO: <br />FROM: <br />ATE: <br />SUBJECT: <br />Mayor and City Council <br />Finance Director 'Treasurer Brager <br />September 2, 1983 <br />1984 UTILITY BUDGETS <br />LI <br />t4{ 4(13 <br />Submitted for your consideration are projected 198,1 Water and Sewer <br />Fund Income Statements. These statements are based upon 1984 <br />Budgeted Revenues and Expenditures. <br />WATER FUND <br />REVENUES <br />Water sales were estimated conservatively at 373,055,000 gallons <br />and at the present rate of .70/l,00o gallons. This is 97.5% of the <br />average water sold for the past nine years (382,621,000). An <br />estimate lower than the 8a0veilrage <br />ionwas <br />gallonschosen <br />frrombecause <br />yearwater <br />toyearsales <br />have over the <br />varied as much as 60 <br />last five years. <br />Penalties and interest have remained reeltivelystable thesampastlast <br />three years. The amount budgeted is approximately <br />year. <br />Permits and connection fees are not subject to precise estimation. <br />Budgeted figures are based upon historical averages. <br />Meter is revenue received for the sale of a water meter for <br />new construction or a sale to the new owner when an existing <br />property changes hands. Budgeted revenue is based upon our first <br />nded in mid - <br />full year of experience (the water ordinance was amethat <br />Investment income is projected at $60,000. This is higher than that <br />sition improved <br />which was budgeted for 1983 because the fund's cash po <br />in 1982. Estimated 1984 is lower than 1981 and 1982 Actual due to <br />the lower interest rates which have been paid this year compared to <br />previous years. <br />Total Estimated 1984 Water Fund revenues are $341,289. This is <br />approximately $13,019 more than was estimated for 1983. <br />EXPENDITURES <br />Several revisions to first draft expenditure estimates have been made. <br />Pursuant to Council direction at the August 29, 1903 budget work <br />session aersonnel services have been budgeted at 38 above 1983 levels. <br />other changes in personnel services include the deletion of one-fourth <br />of the cost of a full-time maintenance position and the inclusion of <br />a part-time position. The present draft maintains 1983 maintenance <br />(� personnel staffing levels. <br />