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Water Maintenance and Operation Fund
<br />
<br />The Water Maintenance and Operation Fund provides the resources to
<br />meet the costs of maintaining the City's water system, including
<br />underground wells, mains, and water storage facilities, as well as
<br />payments to Zone 7 for the purchase of water.
<br />
<br />The Water Fund ending fund balance at June 30, 1986 is projected to
<br />be approximately $2,836 less than estimated at the time the budget
<br />was adopted.
<br />
<br />The beginning fund balance and projected revenues are $31,084
<br />greater than the estimates made last spring as shown in the Water
<br />Fund Summary below. At the time the budget was reviewed last year
<br />by Council, staff estimated the beginning Water Maintenance and
<br />Operation Fund balance for fiscal year 1985/86 to be $782,497.
<br />However, the actual audited fund balance was $812,344 for an
<br />additional amount of $29,847.
<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 /> Over
<br /> Revised (Under)
<br /> Budget Estimate Difference
<br />Water Sales $2,332,825 $2,332,825 $ -
<br />Sale of Meters 125,000 125,000 -
<br />Other 10,000 36,237 26,237
<br />Interest Income 50,000 25,000 (25,000)
<br /> Total $2,517,825 $2,519,062 $ 1,237
<br />
<br /> Expenditure Pro~ections
<br />
<br /> Over
<br /> Revised (Under)
<br /> pudget Estimate Difference
<br />Operating Budget $2,590,138 $2,624,058 $ 33,920
<br />Debt Service 52,825 52,825 -
<br /> Total $2,642,963 $2,676,883 $ 33,920
<br />
<br /> Fund Balance Progection
<br />
<br /> Over
<br /> Revised (Under)
<br /> Budget Estimate Difference
<br />Fund Balance 7/01/85 $ 782,497 $ 812,344 $ 29,847
<br />Projected Revenue 2,517,825 2,519,062 1,237
<br />Projected Expenditures 2,642,963 2,676,883 33,920
<br />Transfers-Depreciation
<br />& Overhead (net) (68,351) .(68,351/ -
<br />Projected Fund Balance
<br />6/30/86 $ 589,008 $ 586,172 $ (2,836)
<br />
<br />Page 6
<br />SR 86:70
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