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Table 5. Water Operations and Maintenance Fund Overview
<br /> FY 2020121 FY 2021/22
<br /> Water/Recycled Water(O&M) Actual Adjusted Budget Adjustments Mid-Year Budget
<br /> Beginning Balance, July 1 $13,291,359 $13,345,529 $13,345,529
<br /> Revenues 32,935,660 33,739,541 (3,159,000) 30,580,541
<br /> Net Transfers (5,673,556) (5,109,334) (5,109,334)
<br /> Expenses
<br /> Zone 7 Purchased Water (16,854,193) (17,900,000) 1,900,000 (16,000,000)
<br /> All other expenses (10,353,741) (12,564,139) (509,334) (13,073,473)
<br /> Total Expenses (27,207,934) (30,464,139) 1,390,666 (29,073,473)
<br /> Net Income $54,170 ($1,833,932) (1,768,334) ($3,602,266)
<br /> Ending Balance, June 30 $13,345,529 $11,511,597 $9,743,263
<br /> Sewer Operations and Maintenance Fund —As shown in Table 6 below,
<br /> recommended changes to the Sewer Operations and Maintenance Fund include
<br /> decreasing revenues by $800,000 due to decreased actual usage to date and
<br /> decreased net expenditures of $122,130 that are described in more detail below. The
<br /> result of this adjustment is a decrease of the net income of $677,870 and an estimated
<br /> ending fund balance of $7.1 million which equals 44 percent of operating expenses. The
<br /> City's policy requires reserves equal to a minimum of 30 percent, a maximum of 40
<br /> percent and a target of 35 percent.
<br /> Net expenditure decreases of $122,130 include reducing DSRSD fees by $550,000
<br /> which is off-set by the following increased expenditures (1) $100,000 for a sewer audit
<br /> and strategic plan consultants, (2) $30,000 for maintenance contracts and equipment,
<br /> (3) $5,000 for electricity rate increases, and (4) $255,000 to fully cover the cost of a
<br /> flusher truck.
<br /> Table 6. Sewer Operations and Maintenance Fund Overview
<br /> FY 2020/21 FY 2021/22
<br /> Sewer(O&M) Actual Adjusted Budget Adjustments Mid-Year Budget
<br /> Beginning Balance, July 1 $9,028,133 $8,860,195 $8,860,195
<br /> Revenues 15,899,898 16,327,500 ($800,000) 15,527,500
<br /> Net Transfers (1,967,192) (1,069,953) - (1,069,953)
<br /> Expenses
<br /> DSRSD (10,794,161) (10,800,000) 550,000 (10,250,000)
<br /> All other expenses (3,306,483) (5,557,425) (427,870) (5,985,295)
<br /> Total Expenses (14,100,643) (16,357,425) 122,130 (16,235,295)
<br /> Net Income ($167,938) ($1,099,878) ($677,870) ($1,777,748)
<br /> Ending Balance, June 30 $8,860,195 $7,760,317 $7,082,447
<br /> Golf Fund —As shown in Table 7 below, revenues are expected to increase by a total
<br /> of $400,006, which is due to increased golf rounds and increased sales of merchandise,
<br /> food, beverage, golf cart rentals, driving range fees and golf lessons. The expenditure
<br /> budget is increased by $192,000 due to increased personnel costs and costs of goods
<br /> sold. Net income is estimated to be $362,025 and the ending fund balance is $498,400.
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