17A - Laserfiche WebLink

Water Operations and Maintenance (O & Ml and Debt Service Funds The Water Operating Fund highlights include: - Ending Fund Balance of $10.12 million. - $881,452 deficit of revenues and transfers compared to expenditures. - Water sale revenues were $749,466 less than budget projections at $15.45 million. - Expenses were over budget by $96,980. Zone 7 water costs were $1,287,228 more than budgeted but this was mitigated by cost savings in other areas: / personnel costs ($385,196) / professional services ($70,465) / electricity ($113,703) / subsidies ($304,723) / interfund expense ($130,536) Sewer Operations and Maintenance (O & M) and Debt Funds The Sewer Operating Funds highlights included: - Ending Fund Balance of $3.98 million. - Budgeted draw down of $410,507 from Fund Balance was actually lower at $214,646. - Revenues were as budgeted at $11.4 million, except for approximately $81,000 in additional interest income. - Budget savings included salaries of $31,387, DSRSD regional sewer costs of $12,000 (the largest budgeted cost at $7.6 million), and interfund cost savings of $39,082. Residential sewer charges are based on fixed rates and do not follow the same trends as water consumption (especially summer irrigation water). Therefore, the projected versus actual variances are often larger for water rate revenues than for sewer rate revenues, which include both local revenues and regional revenues [passed on to the Dublin San Ramon Services District (DSRSD) for sewer treatment and to the Livermore-Amador Valley Water Management Agency (LAVWMA) for export]. For the Sewer Fund O&M (Operations and Maintenance), the minimum target level for reserves for this smaller enterprise is between 25%-30% of annual revenue (10% to 15% for contingency, 15% for two months cash flow), or about $3.2 million. Currently, the Sewer O&M Fund has a Fund Balance of $3.98 million. On the other hand, sewer infrastructure replacement reserves (that reside in the CIP) are at less than optimum levels. A review of sewer replacement funding is currently in progress. CALLIPPE PRESERVE GOLF COURSE OPERATING FUND The Callippe Preserve Golf Course operating funds consist of the Golf Course Operator Fund (reports on the actual operations of the golf course), the Golf General Fund, Contributed Capital Fund, and the Replacement Fund. The total fund balance for all three golf operating funds is $2,354,749. This is $164,574 more than anticipated and the majority of the variance is explained by the actual operations of the golf course. Page 6 of 9