03 - Laserfiche WebLink

THE CITY Of ^ Quarterly F~nanc~al Report - - =+= ~~~ Operating Budget ~ L~ ~S~4NTONo Second Quarter of FY 2007-08 as of December 31, 2007 Enterurise Funds Water Operating Fund `~' The Water Operating Fund is at 44.7% of budgeted revenues collected and 41.0% of expenditures. Revenues from the first two periods of the fiscal year are accrued which results in less than 6 months of revenues being realized in the first half of the fiscal year. The results of operations are expected to produce a small, but positive, cash flow increasing fund balance. Water rates are currently being reviewed and any recommended adjustments will be presented to City Council this spring. • ~~ Beg Fund Bal 11,002,187 Revenues 18,208,566 8,145,438 44.7% Oper & Maint Exp -16,582,808 -6,790,955 41.0% Net Income from Operations 1,625,758 1,354,483 Net transfer Out to CIP -1,614,415 674,294 Change in Fund bal 11,343 2,028,777 Endin Fund bal 11,013,530 Sewer Operating Fund The Sewer Operating Fund is at 41.2% of budgeted revenues collected and 30.3% of expenses. Revenues from the first two periods of the fiscal year are accrued which results in less than 6 months of revenues being realized in the first half of the fiscal year. In addition, there is a lag between the time revenue is received and the when payment is passed through to DSRSD for regional treatment. This fund continues to draw down fund balance reserves to finance ongoing operating and capital needs. This highlights the need for the current effort to develop a sewer user rate model which will identify existing and future operating and capital needs and any rate adjustments that may be necessary to finance them. • ~~ Beg Fund Bal 4,198,081 Revenues 11,353,040 4,681,707 41.2% Oper & Maint Exp -10,931,816 -3,314,066 30.3% Net Income from Operations 421,224 1,367,641 Transfer Out to CIP -898,151 540,922 Change in Fund bal -476,927 1,908,563 Endin Fund bal 3,721,154 ~~~ Good. Positive Indicator ~ Caution. Unsettled Indicator ~ Problem. Negative Indicator