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<br />General Fund Overall Fund Condition
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<br />The projected end-of-year working capital balance for the General Fund is $5,218,450 which is
<br />approximately 23.8%, or 87 days of budgeted expenditures. The General Fund is just below the targeted
<br />wOrking capital balance of 90 to 120 days as outlined in the City's Financial Management Policies.
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<br />Utility Fund Revenues
<br />
<br />The Utility Fund revenues for fiscal year 1997-98 are currently estimated at $5,872,020, which is $75,300,
<br />or 1.30%, greater than our original budget projection. The revenues, by revenue category, for the current
<br />fiscal year are shown below:
<br />
<br /> Original Projection Current Estimate
<br />Category 1997-98 1997-98 Variance Percent
<br />Charges for Services 6,000 4,400 -1,600 -26.67%
<br />Water 2,991,500 3,016,002 24,502 .82%
<br />Sewer 2,654,000 2,701,518 47,518 1.79%
<br />Miscellaneous 200 100 -100 -50.0%
<br />Other Revenue 145,000 150,000 5.000 3.45%
<br />Total Revenue 5,796,700 5,872,020 75,300 1.30%
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<br />Water and sewer revenues are dependent on seasonal factors such as rainfall. Rainfall varies between "dry"
<br />years (about 40 inches or rain) and "wet" years (in excess of 70 inches of rain). Fiscal year 97-98 proved
<br />to be a dry year for the City, which proved our conservative estimate accurate.
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<br />The revenues for the new fiscal year are projected at $5,859,183, which is $62,483, or 1.08%, greater than
<br />they were in the current year. The revenues, by revenue category, for the new fiscal year are shown below:
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<br /> Original Projection Projection
<br />Category 1997-98 1998-99 Variance Percent
<br />Charges for Services 6,000 6,000 0 0.00%
<br />Water 2,991,500 3,029,083 37,583 1.26%
<br />Sewer 2,654,000 2,432,000 (222,000) -8.36%
<br />Miscellaneous 200 100 (100) 50.00%
<br />Operating Transfers 0 235,000 235,000 100.00%
<br />Other Revenue 145.000 157.000 12.000 8.28%
<br />Total Revenue 5,796,700 5,859,183 62,483 1.08%
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<br />. The Base Residential Sewer rate was reduced by 28% and a new transfer from the General Fund to the
<br />- Utility Fund was added.
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