RES 95137 - Laserfiche WebLink

W The Water M & O Fund ended the year with a $654,000 excess of revenues and transfers compared to expenditures, which is $591,000 more than expected. However, $232,000 of these additional funds are restricted for debt service. The remaining surplus funds will be used to increase reserves as provided for in the comprehensive 1995 water rate study. A water rate review is currently underway, which will take imp conside.rat!on me .impa.ct.of the 1996 Zone '~1 rate increase of 8% for water purchased by the C~ty.. At this Ume, ~t ~s antm~pated that staff w~ million. The Sewer M & O Fund ended the year with a $250,000 excess of revenues and transfers compared to expenditures, which is $210,000 more than expected. However $52,000 of these funds are restricted for debt service. Althou h revenues exceeded projectiol by $221,000, approximately 62% of this revenue is passehgon to the Dublin San Ramon Services District (DSRSD) for sewage treatment costs. This is reflected by expenditures also exceeding budget. Therefore, staff is recommending that Council amend the 1994-95 Sewer Maintenance and Operations budget accordingly (to reflect actual revenue and expenditures). The June 30, 1995 ending Debt Service Fund Balances are $ 715,000, and the ending M & O Fund Balance is $381,000, for a total fund balance of $1.1 million. Sewer rates are studied at least bi-armually in conjunction with DSRSD. A review is being undertaken presently. Staff expects to present the results of the study to Council in December. The expected recommendation is a 2-3% Local (City) increase, and an 8 ~/o Regional (DSRSD) increase, resulting in a net overall average increase of 6-7%. o WORKERS' COMPENSATION FUND In 1992-93, the current liability for current workers' compensation cases far exceeded what was projected, with $426,000 being taken from reserves. Therefore, in 1993-94 an additional one-time contribution of $500,000 was made to this Fund to restore its reserve levels. In 1994-95 expenditures were $79,000 greater than expected. However this fu ure is still pending confirmition from the administrator, and may be adjusted. The Ci i~rill nee~to continue to monitor this Fund and continue efforts to manage costs. Addition~Ycontributions from the General Fund to maintain its reserves may also be necessary in the near future. SELF-INSURANCE RETENTION (LIABILITY) RESERVE FUND The ending reserves are $1.1 million, as was originall}, budgeted. The minus expenditure shown relates to a year end adjustment to outstanding liabilitms. CAPITAL IMPROVEMENT FUNDS The 1994-95 Capital Improvement Program (CIP) ended the year essentially on target with projections, with the exceptions noted below. The Ealk_GIE ended the year with $48.000 less funds than projected. Staff is recommending carryover ap ropriations totaling $3.2 million, which are partially offset by carryover revenues of $98,000. A~gr adjusting for carryovers, the net projected ending fund balance is $50,000 more than projected. 11