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MEMO TO: Mayor and City Council <br />FROM: Finance Director -Treasurer Brayer <br />DATE: April 12, 1984 <br />RE: 1903 Water 6 Sewer Funds Budgeted Contingency <br />The adopted 1983 budgets of the Water Fund and the Sewer Fund <br />each contained $15,000 contingency for main breaks. Monies not <br />expended for main breaks during 1983 were to be designated to <br />offset the costs of breaks in future years. During 1983 the <br />following sums were spent for breaks. <br />Water <br />Ridge Lane $2,055 <br />Jeffrey Drive 210 <br />Silver Lake Road 1,987 <br />TOTAL Water Main Breaks $4,252 <br />Sewer <br />Woodale $4,145 <br />Groveland 1,399 <br />TOTAL Sewer Main Breaks $5,544 <br />The Water Fund operating budget contained $7,400 for breaks. <br />Thus $3,148 of the amount in the operating budget remained <br />unexpended as well as the contingency of $15,000. Thus a total <br />of $18,148 is available to offset the costs of future breaks. <br />Sewer main breaks of $5,544 during 1983 left a balance in that <br />fund's contingency of $9,456. This amount is available to offset <br />the costs of future breaks. <br />RECOMMENDATION <br />A resolution be adopted designating $18,148 of Water Fund <br />retained earnings and $9,456 of Sewer Fund retained earnings for <br />water and sewer main breaks respectively. <br />DB/ds <br />