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• Sewer O&M Fund
<br /> • Callippe Preserve Golf Course Fund
<br /> • Storm Drain Fund
<br /> • ParaTransit Fund
<br /> • Cemetery 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 will be presented to the Council in a
<br /> separate future report. The following are the results from the four largest enterprise
<br /> funds; Water, Sewer, Cemetery and Callippe Preserve.
<br /> Water and Sewer Operating Funds
<br /> Water/Recycled Water Operations and Maintenance (O&M) Fund. The Water
<br /> Operating Fund ended FY 2017/18 with an operating fund balance of $11.6 million as
<br /> shown in Table 6 which is $5 million more than that included in the FY 2017/18 MidYear
<br /> Budget. The $11.6 million equals 48 percent of the Water Fund's FY 20171/8 actual
<br /> operating expenses. The operating reserve policy adopted by City Council in November
<br /> 2016 targets the Water Fund operating reserves equal to 35 percent of operating
<br /> expenses. Thus, operating reserves exceed the target.
<br /> Water revenues are $468,886 greater than projected due to additional water sales from
<br /> that resulted from a dryer season than the City experienced in FY 2016/17. Operating
<br /> expenses including water purchases from Zone 7 were approximately $4.7 million less
<br /> than budgeted of which $2.1 million is the final payment to DERWA4 that staff expected
<br /> to spend in FY 2017/18 but instead will be incurred in FY 2018/19. The remaining $2.6
<br /> million in savings includes purchasing less water from Zone 7, contractual services,
<br /> electricity expenses, advertising expenses, and attrition savings.
<br /> Table 6. Water/Recycled Water O&M Funds — Amended Budget vs. Actual
<br /> FY 2017/18 FY 2017/18
<br /> Water+ Recycled Water(O&M) Midyear Actual Variance Variance
<br /> Beginning Balance. July 1 $12,346,487 $12,346,487 - 0.0%
<br /> Revenues 27,930,835 28,399,721 468,886 1.7%
<br /> Net Transfers (5,036,014) (5,166,386) (130,372) 2.6%
<br /> Expenses
<br /> Zone 7 Purchased Water (15,500,000) (14,590,711) 909,289 -5.9%
<br /> All other expenses (13,194,611) (9,392,605) 3,802,006 -28.8%
<br /> Total Expenses (28,694,611) (23,983,315) 4,711,296 -16.4%
<br /> Net Income ($5,799,790) ($749,981) $5,049,809 -87.1%
<br /> Ending Balance, June 30 $6,546,697 $11,596,506 $5,049,809 77.1%
<br /> 4 DERWA(Dublin San Ramon Services District(DSRSD)— East Bay Municipal Utility District(EBMUD) -
<br /> Recycled Water Agency)
<br /> Page 6 of 11
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