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MEMO TO; Mayr.r d City Council <br />FROM: Finance Director -Treasurer Brager <br />. <br />DATE: February 26, 1986 <br />RE; STATU"" OF 1995 HATER ANn ,F.WF.R FUND CONTINGENCIES <br />FOR MAIN BREAKS AND REPAIRS <br />The 1985 Water and Sewer Fund's Budgets each contained a <br />contingency of S15,000 for main breaks and repairs. During 1985 <br />repairs of water main breaks cost the City $2,478 (see F.xhihit 1) <br />leaving an unexpended balance of $11,522 in the Water Fund <br />Contingency account. In 1983 the Council initiated the policy of <br />designatinq the unexpended balances of the Contingency accounts <br />as Reserves for Water and Sewer Main Breaks. The present balance <br />of that Reserve is $30,368. 1 recommend that Council add to the <br />balance of that Reserve the unexpended 1985 Water Fund <br />Contingency of $11,522. Such action would bring tho total <br />balance of the Reserve to $42,890. <br />During 1985 repairs of sewer main breaks cost the ('ity $8,196 <br />(see Exhibit II) leavinq an unexpended balance of $6,804 in the <br />Sewer Fund Contingency account. The present balance of the <br />Reserve for Sewer Main Breaks is $18,835. 1 recommend that <br />Council add to the balance of the Reserve for Sewer Main Breaks <br />the unexpended balance of the 1985 Sewer rund Contingency of <br />$6,8U4. Such a tion would bring the total balance of the Reserve <br />fo $25,639. <br />RECOMMENDATION: Council adopt a resolution adding the unexpended <br />balances of the 1985 Water and Sewer Fund's <br />Contingency accounts to ehe (later and Sewer <br />Fund's Reserves for Main Br•-aks. A suggested <br />resolution is attached for your crmsideration. <br />DB/ds <br />Attachments <br />