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million less expenditures for Repair and Replacement activities, approximately $0.2
<br /> million in attrition savings, and $0.3 million in miscellaneous other net savings.
<br /> Table 7. Water/Recycled Water O&M Funds —Amended Budget vs. Actual
<br /> FY 2021/22
<br /> Water+ Recycled Water(O&M) Amended Actual Variance Variance %
<br /> Beginning Balance, July 1 $13,520,012 $13,520,012 $0 0.0%
<br /> Revenues 30,580,541 30,318,379 (262,162) -0.9%
<br /> Net Transfers (5,109,334) (4,494,752) 614,582 -12.0%
<br /> Expenses
<br /> Zone 7 Purchased Water (17,040,000) (17,825,483) (785,483) 4.6%
<br /> All other expenses (12,033,473) (10,498,416) 1,535,057 -12.8%
<br /> Total Expenses (29,073,473) (28,323,899) 749,574 -2.6%
<br /> Net Income ($3,602,266) ($2,500,272) $1,101,994 -30.6%
<br /> Ending Balance, June 30 $9,917,746 $11,019,740 $1,101,994 11.1%
<br /> Sewer Operations and Maintenance (0 & M) and Debt Funds. As shown in Table 8
<br /> below, the Sewer Operating Fund ended FY 2021/22 with an operating fund balance of
<br /> approximately $9.2 million, which is $2.6 million more than the amount included in the
<br /> amended budget. This $9.2 million fund balance equals 54.3 percent of the Sewer
<br /> Fund's FY 2022/23 operating expenses. The operating reserve policy adopted by City
<br /> Council in November 2016 requires reserves equal to between 30 percent and 40
<br /> percent of operating expenses with a target of 35 percent. Thus, operating reserves
<br /> exceed the maximum required reserve level. Staff will bring forward recommended
<br /> adjustments to City Council as part of the FY 2022/23 midyear budget review process.
<br /> Sewer revenues were approximately $0.5 million or 3.5 percent higher than an estimate
<br /> included in the amended budget, due to higher than anticipated utilization of the sewer
<br /> services for the year. On the expenditure side, sewer treatment fees charged by Dublin
<br /> San Ramon Service District (DSRSD) exceeded the amended budget by approximately
<br /> $0.7 million due to higher than estimated utilization of sewer treatment services, and
<br /> repair and maintenance costs exceeded the amended budget by approximately $0.3
<br /> million. These increases were offset by savings in other categories, including $1.5
<br /> million less expenditures for Repair and Replacement activities, $0.8 million savings in
<br /> professional contract services, and $0.2 million in miscellaneous other net savings.
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