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MEMO TO: <br />FROM: <br />ATF.: <br />RE: <br />Clerk -Administrator Pauley <br />Finance Director -Treasurer Brager <br />April 16, 1985 <br />STATUS OF 1984 WATER AND SEWER FUND CONTINGENCIES FOR <br />MAIN BREAKS AND REPAIRS <br />The 1984 Water and Sewer Fund's Budgets contained contingencies <br />of $16,063 and $16,025 respectively for main breaks and repairs. <br />During 1984 repairs of water main breaks cost the City $3,843 <br />(see Exhibit I) leaving an unexpended balance of $12,220 in the <br />Water Fund Contingency account. In 1983 the Council initiated <br />the policy of designating the unexpended balances of the <br />Contingency accounts as Reserves for Water and Sewer Main <br />Breaks. The present balance of that Reserve is $18,148. I <br />recommend that Council add to the balance of that Reserve the <br />unexpended 1984 Water Fund Contingency of $12,220. Such action <br />would bring the total balance of the Reserve to $30,368. <br />During 1984 repairs of sewer main breaks cost the City $6,646 <br />(see Exhibit II) leaving an unexpended balance of $9,379 in the <br />Sewer Fund Contingency account. The present balance of the <br />Reserve for Sewer Main Breaks is $9,456. I recommend that <br />Council add to the balance of the Reserve for Sewer Main Breaks <br />the unexpended balance of the 1984 Sewer Fund Contingency of <br />$9,379. Such action would bring the total balance of the Reserve <br />to $18,835. <br />RECOMMENDATION: Council adopt a resolution adding the unexpended <br />balances of the 1984 Water and Sewer Fund's Contingency accounts <br />to the Water and Sewer Fund's Reserves for Main Breaks. A <br />suggested resolution is attached for your consideration. <br />DB/ds <br />Attachment <br />