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ir <br /> Enterprise Funds <br /> The City currently has seven Enterprise Funds as follows <br /> ▪ Water O&M Fund <br /> ▪ Sewer O&M Fund <br /> ▪ Callippe Preserve Golf Course Fund <br /> ▪ Storm Drain Fund <br /> ® ParaTransit Fund <br /> ® Cemetery Fund <br /> ▪ Electrical Vehicle Charging Stations Fund <br /> The Operating Budget only includes the Operations & Maintenance (O&M) and Debt <br /> Service expenses of these enterprises Capital improvements and replacements for the <br /> Water, Sewer and Storm Drain funds are accounted for in the Capital Improvement <br /> Program (CIP) The financial results of the CIP are being presented to the Council in a <br /> separate report <br /> Water and Sewer Operating Funds <br /> Water Operations and Maintenance (O&M) Fund. The Water Operating Fund ended <br /> FY 2015/16 with an operating fund balance of $9 million as shown in Table 6 which is <br /> $389,236 less than that included in the FY 2015/16 Amended Budget The $9 million <br /> equals 53 2% of the Water Fund's operating reserves The operating reserve policy <br /> adopted by City Council in November 2016 requires target the Water Fund operating <br /> reserves equal to 35% of operating expenses Thus, operating reserves exceed the <br /> target <br /> Water revenues are approximately $1 million less than projected as a result of <br /> decreased demand for water as required by drought restrictions as well as delays in <br /> bringing the City's recycled water on line These revenues shortfalls are off-set by <br /> reduced Zone 7 water purchases of$2 million and increased contribution of$2 3 million <br /> to DSRSD-EBMUD Recycled Water Authority (DERWA) to provide the City's FY <br /> 2015/16 contribution to the Pleasanton Recycled Water Infrastructure Expansion Project <br /> The proposed resolution ratifies this $2 3 million In addition, there were expenditure <br /> reductions in chemicals, personnel expenses, and contractual services <br /> Page 6 of 11 <br /> i <br /> 1 <br />