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Table 6. Water O&M and Debt Service Funds — Amended Budget vs. Actual
<br /> C Recommended
<br /> P OoJ 0 Recycled Funds Budget Actual � p Actual
<br /> Beginning Fund Balance $9,621,480 $9,621,480 $0 $9,621,480
<br /> Plus Revenues 18,727,850 17,704,139 (1,023,711) 17,704,139
<br /> Transfers In/(Out) (1,555,616) (1,488,525) 67,091 (1,488,525)
<br /> Less Expenditures (17,430,965) (16,863,581) 567,384 (16,863,581)
<br /> Ending Fund Balance 9,362,749 8,973,513 (389,236) 8,973,513
<br /> Change h) Fund Balance Q$�258,M, Q o° 7 Q$889,gat gw,gm
<br /> Sewer Operations and Maintenance (0 & ) and Debt Funds. As shown in Table 7,
<br /> the Sewer Operating Fund ended FY 2015/16 with a positive operating fund balance of
<br /> $5 3 million which is $713,472 greater than the amount included in the FY 2015/16
<br /> Amended Budget The$5 3 million equals 43 5% of the Sewer Fund's operating reserves
<br /> The variance is due to actual revenues exceeding the Amended Budget by $322,734 or
<br /> 2 4% and expenditures less than budget by $383,633 The adopted sewer rates adopted
<br /> in October of 2015 included an annual CPI adjustment for local collection fees The
<br /> operating reserve policy adopted by City Council in November 2016 requires target the
<br /> Sewer Fund operating reserves equal to 35% of operating expenses Thus, operating
<br /> reserves exceed the target
<br /> Table 7. Sewer O&M and Debt Funds —Amended Budget vs. Actual
<br /> Voapo l
<br /> Gaioachd Recommended
<br /> 1@az POBIN Budget Actual NefitiaM Actual
<br /> -
<br /> Beginning Fund Balance $4,687,872 $4,687,872 $0 $4,687,872
<br /> Plus Revenues 13,593,000 13,915,734 322,734 13,915,734
<br /> Transfers I n/(Out) (1,135,400) (1,128,295) 7,105 (1,128,295)
<br /> Less Expenditures (12,559,433) (12,175,800) 383,633 (12,175,800)
<br /> Ending Fund Balance 4,586,039 5,299,511 713,472 5,299,511
<br /> Change tin)Falai Balance • 000iLOWD aNed9egg W93,472 e0ed90m
<br /> Page 7 of 11
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