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<br />Attachment 2
<br />Quarterly Financial Report
<br />Operating Budget
<br />Third Quarter of FY 2008 -09
<br />as of March 31, 2009
<br />Sewer Operating Fund re
<br />The Sewer Operating Fund is at 60.4% of budgeted revenues collected and 58% of
<br />expenses. Revenues from the first two periods of the fiscal year are accrued which
<br />results in less than nine months of revenue being realized in the initial three
<br />quarters of the fiscal year. In addition, there is a lag between the time revenue is
<br />received and when the payment is passed through to DSRSD for regional treatment
<br />(through March 31st only 8 payments have been made to DSRSD). Based on
<br />current and prior year trends, the revenue and expense budget appear to be on
<br />target. Transfers into the sewer fund of $641,128 reflect debt service payments
<br />from the CIP. The transfers out of the sewer fund are made at the end of the year
<br />and are expected to match the budget. Sewer rates are currently being reviewed
<br />and recommendations will be presented to City Council when available.
<br />Sewer Operating Fund
<br />Budget YTD Actual
<br />Beg Fund Bal
<br />Revenues
<br />Oper Maint Exp
<br />Net Income from Operations
<br />Transfer Out to CIP
<br />Change in Fund bal
<br />Ending Fund bal
<br />3,983,435
<br />11,464,313
<br />-11,056,791
<br />407,522
<br />864,294
<br />456,772
<br />3,526,663
<br />6,924,321
<br />6,408,353
<br />515,968
<br />641,128
<br />1,157,096
<br />60.4%
<br />58.0%
<br />Golf Operating Fund
<br />The Golf Operating Fund is at 68.7% of budgeted revenues collected and 71.5% of
<br />expenses. Golf rounds are trending towards 67,000 for the year, which is 2,000
<br />more than budgeted but 4,000 less than the prior year. The economy has affected
<br />the golf industry as expendable household income for leisure activities has declined.
<br />Budgeted revenues should be attainable as the last three months of the year have
<br />longer operating hours and better weather. Expenses are in line with the budget.
<br />Year to date net income from golf operations of $436,715 include expenses of
<br />$128,000 related to the sand bunker replacement project completed in the Fall.
<br />Golf Operating Fund
<br />Budget YTD Actual
<br />Beg Fund Bal
<br />Revenues
<br />Oper Maint Exp
<br />Net Income from Operations
<br />Transfer Out to Debt Service
<br />Change in Fund bal
<br />Ending Fund bal
<br />2,354,749
<br />4,542,889
<br />3,758,913
<br />783,976
<br />1,293,595
<br />509,619
<br />1,845,130
<br />3,122,645
<br />-2,685,930
<br />436,715
<br />1,593,491
<br />1,156,776
<br />68.7%
<br />71.5%
<br />6
<br />Good. Positive Indicator Caution. Unsettled Indicator ati Problem. Negative Indicator
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