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Sewer Operating Fund
<br />The Sewer Operating Fund includes a slight increase in revenues and some minor
<br />budget adjustments in all categories. This fund continues to draw down fund balance
<br />reserves to finance ongoing operating and capital needs, although these amendments
<br />will slightly reduce the amount of that draw. This highlights the need for the current
<br />effort to develop a rate analysis which will identify existing and future operating and
<br />capital needs and any rate adjustments that may be necessary to finance them.
<br /> •
<br />Beginning Fund Balance 4,451,104 4,451,104
<br />Revenues 11,316,190 42,650 11,358,840
<br />Expenses -
<br />Operating & Maintenance (10,155,699) 3,635 (10,152,064)
<br />Debt Service 633 744 633,744
<br />Net Income from Operations 526,747 46,285 573,032
<br />Transfer In 633,744 633,744
<br />Transfer Out to CIP 1,434,240 1,434,240
<br />Change in Fund Balance (273,749) 46,285 (227,464)
<br />Endin Fund Balance 4,177 355 46,285 4,223,640
<br />Golf Operating Fund
<br />Recommended amendments to the Golf Operating Fund reflect an increase in player
<br />rounds above original estimates. This increased play is responsible for both the
<br />increased revenues and the offsetting expense to service the increase in rounds.
<br />Originally, the budget assumed 58,000 annual rounds and then that figure was revised
<br />to 68,000 rounds. The most recent estimate for the current year is that Callippe
<br />Preserve Golf Course will experience approximately 72,000 rounds of play. The
<br />recommended amendments will update the revenue estimate and make a supplemental
<br />appropriation for the offsetting expenses.
<br />
<br />Beginning Fund Balance 2,578,459 2,578,459
<br />Revenues 3,420,840 784,333 4,205,173
<br />Expenses 3,101,463 369,575 3,471,038
<br />Net Income from Operations 319,377 414,758 734,135
<br />Transfers In from GF 765,450 765,450
<br />Transfers Out to DS 1,857,570 1,857,570
<br />Change in Fund Balance (772,743) 414,758 (357,985)
<br />Endin Fund Balance 1 805,716 414,758 2 220,474
<br />Page 6 of 10
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