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General Fund Overall Fund Condition
<br />The projected end-of-year balance for the General Fund is $9,552,188 which is approximately 33.8%, or 123 days of
<br />budgeted expenditures, which is slightly above the targeted reserve of 90 to 120 days as outlined in the City's
<br />Financial Management Policies as adopted by City Council.
<br />Utility Fund Revenues
<br />The Utility Fund revenues for fiscal year 2005-06 are currently estimated at $6,783,289, which is $350,568 or 5.45%,
<br />more than our original budget projection. The revenues, by revenue category, for the current fiscal year are shown
<br />below:
<br /> Original Current
<br />ProjectionEstimate
<br />Category 2005-062005-06Variance Percent
<br />
<br />Other 5,5005,500- 0.00%
<br />Water 3,653,4723,960,968307,496 8.42%
<br />Sewer 2,773,749 2,816,821 43,072 1.55%
<br />Total 6,432,7216,783,289350,568 5.45%
<br />Water and sewer revenues are dependent on seasonal factors such as rainfall. Rainfall varies between “dry” years
<br />(about 40 inches or rain) and “wet” years (in excess of 70 inches of rain). Fiscal year 2005-06 has been a dry year for
<br />the City overall, which caused revenues to be higher than originally estimated. Additionally, the Automated Meter
<br />Reading project has been implemented this year which has increased revenues due to more accurate reads.
<br />The revenues for the new fiscal year are projected at $7,503,541, which is $1,070,820, or 10.34%, higher than they
<br />were in the current year. The increase is due to an increase in the water and sewer rates, as well as more accurate
<br />reads due to the implementation of the automated meter reading. Water and sewer rates were decreased in 2000 and
<br />2001, prior to that there was not an increase 15 years. In FY 2006, as part of a multi year plan to increase rates, rates
<br />were increased to the FY 2000 levels. FY 2007 is the second year that rates will be increased. The revenues, by
<br />revenue category, for the new fiscal year are shown below:
<br /> Original
<br />ProjectionProjection
<br />Category 2005-062006-07Variance Percent
<br />
<br />Other 5,5005,500- 0.00%
<br />Water 3,653,4724,198,521545,049 14.92%
<br />Sewer 2,773,7493,299,520525,771 18.96%
<br />Total 6,432,7217,503,5411,070,820 10.34%
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