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Attachment 2
<br /> Quarterly Financial Report
<br /> Operating Budget
<br /> Third Quarter of FY 2008 -09
<br /> as of March 31, 2009
<br /> Expenditures by Type Budget YTD Actual
<br /> Total Salaries Benefits 67,326,883.00 48,367,517.90 71.8%
<br /> Total Transportation/Training 1,626,700.00 1,263,217.83 77.7%
<br /> Total Repairs Maintenance 2,069,646.00 1,399,229.02 67.6%
<br /> Total Material, Supplies, Services 16,829,487.00 9,714,305.01 57.7%
<br /> Total Capital Outlay 770,850.00 601,363.48 78.0%
<br /> Total Budget versus Actual 88,623,566 61,345,633 69.2%
<br /> All departments and major objects of expenditure are within the 75% level at the end
<br /> of the third quarter and no budget adjustments are being requested at this time.
<br /> Enterprise Funds
<br /> Water Operating Fund
<br /> The Water Operating Fund is at 60.8% of budgeted revenues collected and 52.9%
<br /> of expenditures. Only eight months of revenue have been recorded to date (due to
<br /> beginning year accruals). With the warmer weather months still to be recorded and
<br /> comparing the prior year revenue trend, it appears revenues for the current year
<br /> are within target. Although expenses appear to be trending to less than budget,
<br /> again, only eight months of Zone 7 payments have been recorded and the year -end
<br /> interfund transfer out (budgeted at $1.3 million) has not been made. Transfers into
<br /> the water fund of $704,419 reflect debt service payments from the CIP. The
<br /> transfers out of the water fund are made at the end of the year and are expected to
<br /> match the budget. Water rates are currently being reviewed and recommendations
<br /> will be presented to City Council when available.
<br /> Water Operating Fund Budget YTD Actual
<br /> Beg Fund Bal 10,120,734
<br /> Revenues 17,460,076 10,615,714 60.8%
<br /> Oper Maint Exp 18,507,783 9,791,319 52.9%
<br /> Net Income from Operations 1,047,707 824,395
<br /> Net transfer Out to CIP 1,656,735 704,149
<br /> Change in Fund bal 2,704,442 1,528,544
<br /> Ending Fund bal 7,416,292
<br /> 5
<br /> Good. Positive Indicator Caution. Unsettled Indicator Problem. Negative Indicator
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