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• MEMORANDUM <br /> DATE: January 31, 1998 <br /> TO: Mike Mornson, City Manager <br /> FROM: Roger Larson, Finance Director <br /> ITEM: STORMWATER FUND BALANCE <br /> The following is a recap of the stormwater fund balance at 1/31/98: <br /> Beginning 1997 balance $ 249,745.00 <br /> 1997 Revenue (Stormwater Fees) $ 49,189.00 <br /> Expenditures thru 1/31/98 ($ 60,141.00) <br /> Current Balance at 1/31/98 $ 238,793.00 <br /> • Proposed 1998 Year End Balance: <br /> Current Balance $ 238,793.00 <br /> 1998 Revenue $ 169,200.00 ** <br /> 1998 Estimated Expenditures ($ 270,000.00) *** <br /> Projected 12/31/98 Balance $ 137,993.00 <br /> * Expendituzes to date: <br /> WSB $ 52,587.48 <br /> Dorsey & Whitney $ 3,070.27 <br /> Barr Engineering $ 2,709.35 <br /> Flood Clean-up/Dumpsters $ 1,774.15 <br /> $ 60,141.25 <br /> ** The ammendment to the ordinance which increases the residential rate to $13.00 per <br /> quarter and increases all others by 2'/z times per quarter, increases the estimated <br /> annual revenue for 1998 to $169,200.00. <br /> *** Proposed Expenditures: (Some programs could be competed in years 1998 & 1999) <br /> Home Buyout Program $ 100,000.00 <br /> Sump Pump Program $ 45,000.00 <br /> • Engineering, Legal & Misc. $ 25,000.00 <br /> Grant Program $ 100,000.00 <br /> $ 270,000.00 <br />