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maintaining the 10% Reserve for Economic Uncertainties equal to 10% of the 2014/15FY
<br /> projected revenues are shown in Table 9:
<br /> Table 9
<br /> Changes to Reserves in 2014/15FY
<br /> General Fund Recommended 2014/15FY
<br /> Fund Balance Balances as of 2014/15FY Mid-Term
<br /> Reserve Designations June 30,2014 Adjustments Budget
<br /> 10%Reserve for Economic Uncertainties $9,431,000 $280,000. $9,711,000
<br /> Undesignated Resene 3,610,582 (280,000) 3,330,582
<br /> TOTAL $13,041,582 $0 $13,041,582
<br /> Enterprise Funds
<br /> Water Fund
<br /> Revenues are projected to decrease by $2.895 million in 2014/15FY due to the mandatory
<br /> 25% reduction in water consumption. Expenses are projected to decrease by a corresponding
<br /> amount for Zone 7 water purchases and a reduction in the retiree medical annual required
<br /> contribution; offset by an increase in expenses for one additional employee and the additional
<br /> expenses for public relations and advertising costs related to the implementation of the water
<br /> conservation program. Table 10 summarizes the Water Operations and Maintenance Fund for
<br /> the three years ending June 30, 2015 and presents the 2014/15FY Mid-Term Budget.
<br /> Table 10
<br /> Water Operations_and Maintenance (O&M)
<br /> 2012113FY 2013114FY 2014115FY Recommended 2014/15FY
<br /> Water(0&M) Actuals Midyear Original Budget Adjustments Mid-Term Budget
<br /> Beginning Balance,July 1 $6,029,352 $6,435,984 $6,432,230 $6,432,230
<br /> Revenues 21,722,756 21,637,488 21,934,519 (2,895,000) 19,039,519
<br /> Expenses
<br /> Zone 7 Purchased Water 13,582,926 14,040,000 14,300,000 (2,950,000) 11,350,000
<br /> All other expenses 7,733,198 7,601,242 7,676,406 137,791 7,814,197
<br /> Total Expenses 21,316,124 21,641,242 21,976,406 (2,812,209)_ 19,164,197
<br /> Net Income 3406,632 ($3,754) ($41,887) ($82,791) ($124,678)
<br /> Ending Balance,June 30 $6,435,984 $6,432,230 $6,390,343 $6,307,552
<br /> Sewer Fund
<br /> Revenues are projected to decrease $47,000 due to the 25% mandatory water conservation
<br /> program's impact on commercial sewer revenues which are a function of the amount of water
<br /> consumed by commercial customers. There is no corresponding offset in expenses for this
<br /> reduction in revenues. There is a decrease in expenses for the reduction in the retiree medical
<br /> annual required contribution offset by a slight increase in field supplies and the addition of 50%
<br /> of a new employee that is funded between the sewer fund and the storm drain fund. Table 11
<br /> summarizes the Sewer Operations and Maintenance Fund for the three years ending June 30,
<br /> 2015 and presents the 2014/15FY Mid-Term Budget.
<br /> 12
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