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'STAFf' REPORT 87:73
<br />Mid-Year Budget Review - 1986-87 Fiscal Year
<br />February 17, 1986
<br /> Page 7
<br />
<br />Water Maintenance and Operation Fund
<br />
<br /> The Water Maintenance and Operation Fund provides the resources
<br /> to meet the costs of maintaining the City's water system,
<br /> including underground wells, mains, and water storage facilities,
<br /> as well as payments to Zone 7 for the purchase of water.
<br />
<br />The Water Fund ending fund balance at June 30, 1987 is projected
<br />to be approximately $36r050 more than estimated at the time the
<br />budget was adopted.- ....
<br />
<br />The beginning fund balance is $195,323 greater than estimates
<br />made last spring. The increase was due to actual expenditures
<br />being less than expected by $97,933, and. actual revenues (plus
<br />net transfers) exceeding projections by $97,390. Water purchased
<br />for resale in 1986-87 is expected to cost $119,900 more than
<br />originally estimated.
<br />
<br />The following table summarizes the financial information for the
<br />Water Maintenance and Operation Fund.
<br />
<br /> Water Fund Summary
<br />
<br /> PROJECTED REVENUE
<br />
<br /> Revised Over(Under)
<br /> Budget Estimate Difference
<br />
<br />Water Sales $2,399,120 $2,399,120 $ -
<br />Sales of Meters 107,000 107,000 -
<br />Other 10,000 10,000 -
<br />Interest Income 25,000 25,000 -
<br />
<br /> TOTAL $2,541,120 $2,541,120 $ -
<br />
<br /> EXPENDITURE PROJECTIONS
<br />
<br /> Operating Budget $2,695,268 $2,854,541 $159,273
<br /> Debt Service 51,120 51,120 -
<br />
<br /> TOTAL $2,746,388 $2,905,661 $159,273
<br /> FUND BALANCE PROJECTION
<br />
<br /> Fund Balance 7/1/86 $ 563,172 $ 758,495 $195,323
<br /> Projected Revenue 2,541,120 2,541,120 -
<br /> Projected
<br /> Expenditures 2,746,388 2,905,661 159,273
<br /> Transfers-
<br /> Depreciation &
<br /> Overhead (Net) (36,975) (36,975) -
<br /> Projected Fund
<br /> Balance 6/30/87 $ 320,929 $ 356,979 $ 36,050
<br />
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