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<br />Of the thirty different general fund divisions that comprise these seven departments, eight are budgeted at amounts
<br />less than their 1994-95 budget level and a total of 17, or 57%, have budgets less than 3% greater than the previous
<br />year.
<br />
<br />The major decrease in the Finance department was caused by the settlement of a lawsuit in the 199495 fiscal year.
<br />This settlement resulted in the expenditure of $2 million that will not be recurring. The lawsuit Involved a process
<br />where the City challenged the location of a hazardous waste incinerator.
<br />
<br />Divisions with significant increases are the Police Auxiliary Services, Management Information Services, and Planning
<br />and Engineering. All these increased are attributed to new personnel.
<br />
<br />The budget as adopted, does not contain any major expansions or reductions in service levels but does contain an
<br />across the board salary adjustment of three (3%) percent for all full time employees.
<br />
<br />General Fund Overall Fund Condition
<br />
<br />The projected end-of-year working capital balance for the General Fund is $5,112,016 which is approximately 26.6%,
<br />or 97 days of budgeted expenditures. The General Fund has achieved the targeted working capital balance of 90
<br />to 120 days as outlined in the City's Financial Management Policies.
<br />
<br />Utility Fund Revenues
<br />
<br />The Utility Fund revenues for fiscal year 1994-95 are currently estimated at $5,617,338, which is $40,562, or 0.72%,
<br />greater than our original budget projection. The revenues. by revenue category. for the current fiscal year are shown
<br />below:
<br />
<br /> Original Projection Current Estimate
<br />Category 1994-95 1994-95 Variance Percent
<br />Water $ 2,696,200 2,677.664 (18,536) -0.69%
<br />Sewer 2,830.000 2,786,474 (43,526) -1.54%
<br />Other Revenue 131.700 153.200 21.500 16.32%
<br />Total Revenue $ 5,657,900 5,617,338 (40.562) -0.72%
<br />
<br />Water and sewer revenues are dependent on seasonal factors such as rainfall. Though the City did not experience
<br />a major tropical storm or hurricane; we did have an extremely wet year which accounts for the shortfall.
<br />
<br />The revenues for the new fiscai year are projected at $5,712,900, which is $55,000, or .97%, greater than they were
<br />in the current year. The revenues, by revenue category, for the new fiscal year are shown below:
<br />
<br /> Original Projection Projection
<br />Category 1994-95 1995-96 Change Percent
<br />Water $ 2,696,200 2,719,200 23,000 0.85%
<br />Sewer 2,830,000 2,839,000 9,000 0.32%
<br />Other Revenue 131.700 154.700 23.000 17.46%
<br />Total Revenue $ 5,657,900 5,712,900 55,000 0.97%
<br />
<br />There are no planned increases inl'rates in the Utility Fund. The increases are projected to be caused by the
<br />increase in service customers caus~d by new construction in the City.
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