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Table 7. Water Operations and Maintenance Fund Overview
<br /> FY 2018/19 FY 2019/20
<br /> Water/Recycled Water(O&M) Actual Adjusted Budget Adjustments Mid-Year Budget
<br /> Beginning Balance, July 1 $11,596,506 $14,717,104 $14,717,104
<br /> Revenues 27,273,293 29,927,741 $65,000 29,992,741
<br /> Net Transfers (1,814,376) (3,723,129) - (3,723,129)
<br /> Expenses
<br /> Zone 7 Purchased Water 14,040,043 16,100,000 - 16,100,000
<br /> All other expenses 8,298,276 12,040,530 5,783 12,046,313
<br /> Total Expenses 22,338,319 28,140,530 5,783 28,146,313
<br /> Net Income $3,120,598 ($1,935,918) $59,217 ($1,876,701)
<br /> Ending Balance, June 30 $14,717,104 $12,781,185 $12,840,403
<br /> Sewer Operations and Maintenance Fund —As shown in Table 8, recommended
<br /> changes to the Sewer Operations and Maintenance Fund include a decrease of
<br /> $213,955 in expenses related to attrition savings of $39,983 due to vacancies, a
<br /> reduced contingency of$126,972 that is described under the Water Operations and
<br /> Maintenance Fund, reduced vehicles expenses of $46,000 and $1,000 reduction in
<br /> transportation and training expenses. The result of these adjustments is an increase of
<br /> the net income of$213,955 and an estimated ending fund balance of$7.9 million which
<br /> equals 54 percent of operating expenses. The City's policy requires reserves equal to a
<br /> minimum of 30 percent, a maximum of 40 percent and a target of 35 percent.
<br /> Table 8. Sewer Operations and Maintenance Fund Overview
<br /> FY 2018/19 FY 2019/20
<br /> Sewer(O&M) Actual Adjusted Budget Adjustments Mid-Year Budget
<br /> Beginning Balance, July 1 $6,846,889 $7,471,734 $7,471,734
<br /> Revenues 14,984,163 15,507,500 $0 15,507,500
<br /> Net Transfers (1,079,391) (359,000) - (359,000)
<br /> Expenses
<br /> DSRSD 10,147,647 10,300,000 - 10,300,000
<br /> All other expenses 3,132,280 4,595,273 (213,955) 4,381,318
<br /> Total Expenses 13,279,927 14,895,273 (213,955) 14,681,318
<br /> Net Income $624,845 $253,227 $213,955 $467,182
<br /> Ending Balance, June 30 $7,471,734 $7,724,961 $7,938,915
<br /> Cemetery Fund —As shown in Table 9 on the next page, recommended changes to the
<br /> Cemetery Fund include increased expenses of $9,688 in contractual services as a
<br /> result of increased contractual services rates for burials and landscape maintenance
<br /> services.
<br /> Page 6 of 8
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