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HomeMy WebLinkAbout2013-07-22 - Finance-Accounting Committee Meeting Agenda PacketYorba Linda Water District AGENDA YORBA LINDA WATER DISTRICT FINANCE - ACCOUNTING COMMITTEE MEETING Monday, July 22, 2013, 10:00 AM 1717 E Miraloma Ave, Placentia CA 92870 1. CALL TO ORDER 2. ROLL CALL COMMITTEE Director Phil Hawkins, Chair Director Gary T. Melton STAFF Steve Conklin, Acting General Manager 3. PUBLIC COMMENTS Any individual wishing to address the committee is requested to identify themselves and state the matter on which they wish to comment. If the matter is on this agenda, the committee Chair will recognize the individual for their comment when the item is considered. No action will be taken on matters not listed on this agenda. Comments are limited to matters of public interest and matters within the jurisdiction of the Water District. Comments are limited to five minutes. 4. ACTION CALENDAR This portion of the agenda is for items where staff presentations and committee discussions are needed prior to formal committee action. 4.1. FY 2013/14 Water Rate Increase Recommendation. That the Finance - Accounting Committee recommend the Board of Directors adopt Resolution No. 13 -13 Setting Water Rates Effective July 1, 2013 and Rescinding Resolution No. 12 -13. 5. DISCUSSION ITEMS This portion of the agenda is for matters such as technical presentations, drafts of proposed policies, or similar items for which staff is seeking the advice and counsel of the Committee members. This portion of the agenda may also include items for information only. 5.1. Auditor Discussion with Those In Governance 5.2. Transfers of Reserves (Verbal Report) 5.3. Short -Term Financing Rate (Verbal Report) 5.4. Investment Report for the Period Ending June 30, 2013 5.5. Budget to Actual Reports for June 30, 2013 5.6. Future Agenda Items and Staff Tasks 6. ADJOURNMENT 6.1. The next Finance - Accounting Committee meeting is scheduled to be held Monday, August 26, 2013 at 12:00 p.m. Items Distributed to the Committee Less Than 72 Hours Prior to the Meeting Pursuant to Government Code section 54957.5, non - exempt public records that relate to open session agenda items and are distributed to a majority of the Committee less than seventy -two (72) hours prior to the meeting will be available for public inspection in the lobby of the District's business office located at 1717 E. Miraloma Avenue, Placentia, CA 92870, during regular business hours. When practical, these public records will also be made available on the District's internet website accessible at http: / /www.ylwd.com /. Accommodations for the Disabled Any person may make a request for a disability - related modification or accommodation needed for that person to be able to participate in the public meeting by telephoning the Executive Secretary at 714 - 701 -3020, or writing to Yorba Linda Water District, P.O. Box 309, Yorba Linda, CA 92885 -0309. Requests must specify the nature of the disability and the type of accommodation requested. A telephone number or other contact information should be included so the District staff may discuss appropriate arrangements. Persons requesting a disability - related accommodation should make the request with adequate time before the meeting for the District to provide the requested accommodation. AGENDA REPORT Meeting Date: July 22, 2013 To: Board of Directors From: Steve Conklin, Acting General Manager Presented By: Stephen Parker, Finance Manager Prepared By: Stephen Parker, Finance Manager Subject: FY 2013/14 Water Rate Increase STAFF RECOMMENDATION: Dept: Reviewed by Legal ITEM NO. 4.1 Finance Yes That the Finance - Accounting Committee recommend the Board of Directors adopt Resolution No. 13 -13 Setting Water Rates Effective July 1, 2013 and Rescinding Resolution No. 12 -13. DISCUSSION: In June 2012 the Board held a meeting to consider a three -year rate increase as was noticed to the District's customers through the Prop 218 process. The Board elected to move forward with the three year rate increase. However, to allow the possibility that the District's financial situation might improve enough where the rate increase identified in the Notice of Proposed Water Rate Increase was not necessary, the Board elected to only adopt the first year of the three annual rate increases. Through preparation of the FY 13/14 Budget, it has become evident that the previously noticed 2.5% rate increase was necessary for this fiscal year. As a result, staff is presenting Resolution 13- 13 to the Finance - Accounting Committee and on to the Board to memorialize the FY 13/14 rate increase. STRATEGIC PLAN: FR 2 -C: Implement an Approach to Ensure Reserves are Responsibly Funded PRIOR RELEVANT BOARD ACTION(S): On June 28, the Board adopted Resolution 2012 -13, setting water rates for the 2012/13 fiscal year. ATTACHMENTS: Name: Description: Type: Resolution 13 -13 Setting Water Rates.doc Resolution 13 -13 Backup Material RESOLUTION NO. 13 -13 RESOLUTION OF THE BOARD OF DIRECTORS OF THE YORBA LINDA WATER DISTRICT SETTING WATER RATES EFFECTIVE JULY 1, 2013, AND RESCINDING RESOLUTION NO. 12 -13 WHEREAS, pursuant to Water Code Section 31007, the Board of Directors of the Yorba Linda Water District (YLWD) is required to set water rates at a level which will pay for the provision of water services; and WHEREAS, pursuant to Government Code Section 53756, YLWD may adopt a schedule of fees or charges authorizing automatic adjustments that pass through increases in wholesale charges for water; and WHEREAS, the Board of Directors previously adopted Resolution No. 12 -13, which established water rates effective July 1, 2012; and WHEREAS, YLWD has determined the unit cost of changes in rates from the Metropolitan Water District of Southern California (MWD), the Municipal Water District of Orange County (MWDOC) and Orange County Water District (OCWD) for FY 2013/14; and WHEREAS, YLWD has prepared a budget for FY 2013/14, which includes the unit cost of the MWD, MWDOC and OCWD pass- through applied to the commodity charge of YLWD rates in accordance with Government Code Section 53756; and WHEREAS, on April 26, 2012 the Board of Directors considered Water Rate Study 2012 which included recommended water rates for FY 2012/13, FY 2013/14 and FY 2014/15 and the Board of Directors determined that the water rate increases described in Water Rate Study 2012 are necessary and sufficient to cover, without exceeding, the cost to provide water service to each customer; and WHEREAS, pursuant to and in compliance with Proposition 218 (California Constitution Art. XIII D), the District on May 4, 2012 mailed a notice of water rate increase to all customers which included the proposed rates for FY 2012/13, FY 2013/14 and FY 2014/15, and the Board of Directors has received a proof of mailing; and WHEREAS, pursuant to Proposition 218 on June 21, 2012 the Board of Directors held a hearing regarding water rate and pass- through charges for FY 2012/13, FY 2013/14 and FY 2014/15 and heard and considered protests; and Resolution No. 13 -13 Setting Water Rates WHEREAS, on June 21, 2012 the Board of Directors adopted Resolution FY 2012/13 establishing water rates for the FY 2012/13 fiscal year; and WHEREAS, the Board of Directors desires to establish water rates for the FY 2013/14 fiscal year. NOW THEREFORE, the Board of Directors of the Yorba Linda Water District does hereby find, determine, and resolve the following: Section 1. Resolution No. 12 -13 is hereby rescinded. Section 2. Water rates for service defined in Section 3.8 of the Rules and Regulations of the Yorba Linda Water District are hereby amended as follows, to take effect on July 1, 2013: For All Potable Water Service: All Water Usage shall be charged at Basic Service Charge for: 5/8" and 3/4" Meters 1" Meters 1 1/2" Meters 2" Meters 3" Meters 4" Meters 6" Meters $2.64 / 100 Cu. Ft. (includes FY 13/14 pass- through charge) $8.80 / Month $14.67 / Month $29.34 / Month $46.94 / Month $102.67 / Month $187.80 / Month $410.67 / Month Section 3. Additional rates and fees for service are as follows: 3.a Permanent Untreated Water Service: The current MWD Untreated Full rate, plus charges by MWDOC, plus any other fees, charges or penalties as may be imposed by MWD and /or MWDOC, plus $13 per acre foot. 3.b The charge for Temporary service as defined in Section 3.5.1 of the Rules and Regulations for Water Service shall be as follows: 3.5.1 TEMPORARY SERVICE: The rate per hundred cubic feet shall be two times the rate specified for all water service plus $2.50 per day for each day that the meter is available for use by the customer. A security deposit of $1,000 is required at the time of rental and the deposit will be returned within 15 days of the return of the meter. Resolution No. 13 -13 Setting Water Rates 2 3.c The monthly rates for Private Fire Service Protection, as defined in Section 3.6 of the Rules and Regulations for Water Service, shall be as follows: Meter Size Monthly Charge 4 inch $16.00 6 inch $35.00 8 inch $59.00 10 inch $94.00 PASSED AND ADOPTED this 25th day of July 2013 by the following called vote: AYES: NOES: ABSTAIN: ABSENT: Gary Melton, President Yorba Linda Water District ATTEST: Steven R. Conklin, Secretary Yorba Linda Water District Reviewed as to form by General Counsel: Arthur G. Kidman, Esq. Kidman Law, LLP Resolution No. 13 -13 Setting Water Rates 3 AGENDA REPORT Meeting Date: July 22, 2013 To: Finance - Accounting Committee From: Steve Conklin, Acting General Manager Presented By: Stephen Parker, Finance Dept: Manager Prepared By: Stephen Parker, Finance Manager Subject: Auditor Discussion with Those In Governance DISCUSSION: ITEM NO. 5.1 Finance Nitin Patel, Partner from White Nelson Diehl Evans LLP will address the Finance - Accounting Committee with information pertaining to the upcoming audit of the fiscal year ending June 30, 2013. He will also be available for any questions the Committee may have. STRATEGIC PLAN: FR 1 -B: Prepare a High Level Annual Budget Document and Comprehensive Annual Financial Report and Compete for Recognition by the Government Finance Officers Association PRIOR RELEVANT BOARD ACTION(S): On May 26, 2011 the Board authorized the President and Secretary to execute a Professional Services Agreement with Diehl, Evans & Company for a three year contract with two subsequent one -year options for a fee not to exceed $97,695. Meeting Date; To: From: Presented By Prepared By: Subject: SUMM RY: ITEM NO. 5.4 AGENDA REPORT July 22, 2013 Finance - Accounting Committee Steve Conklin, Acting General Manager Stephen Parker, Finance Manager Dept: Finance Delia Lugo, Senior Accountant Investment Report for the Period Ending June 30, 2013 Staff is submitting the June 2013 Monthly Investment Reports for the Committee's review. DISCUSSION: The Investment Portfolio Report presents the market value and percent yield for all District investments by institution. The Investment Report Summary includes budget and actual interest and average term portfolio information as well as market value broken out by reserve categories. The total yield for the month ending June 30, 2013 is 0.70 %. The overall increase in the investment balance from the previous month is approximately $1,095,000. A couple of the larger balance changes include an increase in the Water Operating fund of approximately $818,000 and an increase in the Reserve for Debt Service of $293,000 due to the District meeting its monthly obligation to ensure that funds are set aside for the September 2013 debt service principal and interest payments. As a result of the Board of Director's adopting a revised Investment Policy as set forth in Resolution 13 -06, staff has moved forward with the overall goal of diversifying the District's investment portfolio. In the month of June Federal Agency Securities and Negotiable Certificates of Deposits that meet the guidelines of the Investment Policy were purchased. With the close of the fiscal year and with the intention of investing for greater interest earnings, funds that exceeded applicable accounts payable and payroll obligations were transferred into the money market account at Bank of the West. Staff determined that all scheduled payables would clear from the District's primary checking account. On June 30, 2013 the District's bank statement at Wells Fargo report a month end balance of $257,088. However, because the ledger account reflects all outstanding checks, the ledger balance is being shown as ($65,847). STRATEGIC PLAN: FR 1 -F: Continue to Record and Report the Fairly Stated Financial Activities of the District in a Timely and Transparent Manner to the Board of Directors and Member Agencies ATTACHMENTS: Name: Description: Type: Invst 6- 13.xlsx Investment Report for Period Ending June 30, 2013 Backup Material Invst Agenda Backup -June 2013.xlsx Agenda Backup Backup Material Yorba Linda Water District Investment Portfolio Report June 30, 2013 Market % Date of Percent Value Par of Total Institution Maturity Yield Checking Account: $ (65,847) $ (65,847) Wells Fargo Bank 317 317 Pershing $ (65,530) $ (65,530) -0.33% Total 0.00% Money Market Accounts $ 54,956 $ 54,956 Wells Fargo Money Market 0.05% 23,245 23,245 US Bank (Revenue Bonds) 0.04% 6,659,681 6,659,681 Bank of the West 0.34% $ 6,737,882 $ 6,737,882 34.44% Total 0.34% Federal Agency Securities $ 490,185 $ 500,000 Fannie Mae 05/25/18 1.14% $ 485,590 $ 500,000 Federal Home Loan Bank 06/12/18 1.25% $ 488,470 $ 500,000 Fannie Mae 06/12/18 0.81% $ 486,785 $ 500,000 Federal Home Loan Bank 06/13/13 1.12% $ 487,105 $ 500,000 Federal Home Loan Bank 06/20/13 1.15% 2,137,144 2,144,397 Federal Home Loan Bank 05/28/14 1.36% $ 4,575,279 $ 4,644,397 23.39% Total 05/14/18 1.22% Certificates of'Deposits $ 241,869 $ 248,000 CIT Bank 05/22/18 1.23% 241,869 248,000 Discover 05/22/18 1.23% 241,869 248,000 Goldman Sachs Bank 05/22/18 1.23% 241,939 248,000 Beal Bank 05/23/18 1.02% 243,308 248,000 Wells Fargo 04/27/18 0.91% 239,264 247,000 Barclays Bank 05/14/18 0.72% 242,760 248,000 State Bank of India 05/14/18 1.17% 243,833 249,000 Webster Bank 05/03/18 0.91% 241,847 248,000 American Express Centurion Bank 05/28/18 1.23% 241,778 248,000 GE Capital Bank 05/24/18 1.12% 245,576 249,000 Merrick Bank 05/24/17 0.76% 244,605 248,000 BMW Bank 05/24/17 0.91% 246,368 249,000 Firstbank Puerto Rico 05/24/16 0.75% 242,827 249,000 Oriental Bank & Trust 05/29/18 1.07% 242,924 249,000 Silvergate Bank 05/30/18 1.02% 242,810 249,000 Enterprise Bank & TR Co Lowell 05/30/18 1.02% 242,800 249,000 Safra National Bank 05/31/18 1.02% 241,840 248,000 TOwnebankPortsmouth 05/31/18 1.02% 242,820 249,000 Mascona Savings Bank 05/29/18 1.02% $ 4,612,907 $ 4,719,000 23.58% Total 0.80% Pooled Investment Accounts: $ 640,379 $ 640,379 Local Agency Investment Fund 0.25% - Ca1TRUST Short Term 0.00% 3,063,754 3,079,726 Ca1TRUST Medium Term 0.62% $ 3,704,133 $ 3,720,105 18.93% 0.56% $ 19,564,671 $ 19,755,854 100% T otal Investments 0.70% Per Government Code requirements, the Investment Report is in compliance with the Yorba Linda Water District's Investment Policy, and there are adequate funds available to meet budgeted and actual expenditures for the next six months. Delia Lugo, Senior Accountant 6/30/13 Investment Summary Report Below is a chart summarizing the yields as well as terms and maturities for the month of June 2013: Avg. Portfolio Avg. Portfolio # of Month Yield Without Yield With Days to of 2013 CalTRUST CalTRUST Maturity June 0.71% 0.70% 686 Below is are charts comparing operating fund interest for current and prior fiscal years. Actual Interest Monthly - June Year -to -Date 6/30/2012 34,380 257,518 6/30/2013 19,845 135,473 Budget 2011/2012 2012/2013 Interest Budget, June YTD $ 190,000 $ 150,000 Interest Budget, Annual $ 190,000 $ 150,000 Interest earned on investments is recorded in the fund that owns the investment. Investment Summary Comparison Between Current and Previous Month The distribution of investments in the portfolio both in dollars and as a percentage of the total portfolio by funds is as follows: May 2013 % Alloc June 2013 % Alloc Fund Description Balance 5/31/2013 Balance 6/30/2013 Water Operating Reserve $ 3,922,419 19.46% $ 5,015,576 25.56% Water Emergency Reserve 1,006,647 5.77% 990,234 5.04% Water Capital Project Reserve 7,748,028 44.46% 7,774,174 39.60% Water Reserve for Debt Service 1,010,637 4.56% 1,304,228 6.64% Maintenance Reserve 200,715 1.15% 200,715 1.02% COP Revenue Bond 2008 - Reserve 2,162,948 12.31% 2,160,389 11.01% Sewer Operating 16,229 0.09% 16,174 0.08% Sewer Emergency Reserve 1,005,640 5.77% 1,001,806 5.10% Sewer Capital Project Reserve 1,145,875 6.43% 1,167,222 5.95% $ 18,219,138 100.00% $ 19,630,518 100.00% Wells Fargo Bank Checking Water Operating (21,263) (296,566) Sewer Operating 267,352 230,719 246,089 (65,847) Totals $ 18,465,227 $ 19,564,671 AGENDA REPORT Meeting Date: July 22, 2013 To: Finance - Accounting Committee From: Steve Conklin, Acting General Manager Presented By: Steve Conklin, Acting General Dept: Manager Prepared By: Delia Lugo, Senior Accountant Subject: Budget to Actual Reports for June 30, 2013 DISCUSSION: ITEM NO. 5.5 Finance Attached are the District's budget to actual summary results for the Water Fund, Sewer Fund and a combined statement for both funds pertaining to the reporting month of June 2013. For the month of June 2013, the District water revenue is 102.9% of annual budget, which is 2.9% higher when compared to the historical trend for this point in the year. Variable water costs are higher than budgeted due to the District's intentional strategy to use a greater percentage of the more expensive imported water in the first half of the year due to MWD's rate increase that went into effect January 2013. The majority of the Water Fund's individual Supplies and Services expenses are trending near budget, however the net Supplies and Services is trending slightly over budget. This is almost exclusively due to Materials expenses, which is approximately $282,000 over budget primarily due to repair parts, hydrant repair parts and water service repair parts in the amounts of $107,000, $54,000, $38,000 and $20,000 respectively. Overall, Sewer Supplies and Services expenses are trending slightly over budget. This is due to the Water Fund's pass through plus Sewer's Maintenance fund being over budget due to Sewer Asphalt Paving not being budgeted ($32,000) and Sewer Line Repairs being over budget by $15,000. STRATEGIC PLAN: FR 1 -G: Continue to Improve Communications of the Districts Financial Information to the Board of Directors, Member Agencies, Management, and the Financial Community ATTACHMENTS: Description: Type: June 2013 consolidated stmt.xlsx June 2013 Consolidated Statement Backup Material June 2013 Water Stmt.xlsx June 2013 Water Statement Backup Material June 2013 Sewer Stmt.xlsx June 2013 Sewer Statement Backup Material Yorba Linda Water District Summary Financial Report Water & Sewer Funds For Twelve Months Ending June 30, 2013 Revenue (Operating): Water Revenue (Residential) Water Revenue (Commercial & Fire Det.) Water Revenue (Landscape /Irrigation) Water Revenue (Service Charge) Sewer Charge Revenue Locke Ranch Assessments Other Operating Revenue Total Operating Revenue: Revenue (Non- Operating) Original YTD YTD YTD Budget Actual Under(Over) % of FY 2013 FY 2013 Budget Budget $15,405,197 $15,914,624 (509,427) 103.31% 1,822,665 1,890,271 (67,606) 103.71% 4,035,121 4,161,528 (126,407) 103.13% 3,755,191 3,721,459 33,732 99.10% 1,548,682 1,559,866 (11,184) 100.72% 198,433 198,284 149 99.92% 643,737 725,819 (82,082) 112.75% 27,409,026 28,171,851 (762,825) 102.78% Interest 170,000 135,474 34,526 79.69% Property Tax 1,244,320 1,325,936 (81,616) 106.56% Other Non - Operating Revenue 494,437 566,832 (72,395) 114.64% Total Non - Operating Revenue: 1,908,757 2,028,242 (119,485) 106.26% Total Revenue 29,317,783 958,926 0.00% 2,730,661 30,200,093 (882,310) 103.01% 6,602,339 6,863,086 (260,747) Expenses (Operating): ($3,871,678) ($1,538,385) ($2,333,293) 39.73% Variable Water Costs (G.W., Import & Power) 12,953,024 12,995,317 (42,293) 100.33% Salary Related Expenses 7,648,891 6,851,891 797,000 89.58% Supplies & Services 3,849,602 4,166,973 (317,371) 108.24% Total Operating Expenses 24,451,517 24,014,181 437,336 98.21% Expenses (Non- Operating): Interest on Long Term Debt Other Expense Total Non - Operating Expenses: Total Expenses Net Income (Loss) Before Capital Contributions Capital Contributions Net Income (Loss) Before Depreciation Depreciation & Amortization Total Net Income (Loss) 2,011,395 124,210 1,780,123 40,014 231,272 84,196 88.50% 32.21% 2,135,605 1,820,137 315,468 85.23% 26,587,122 25,834,318 752,804 97.17% 2,730,661 4,365,775 (1,635,114) 159.88% - 958,926 958,926 0.00% 2,730,661 5,324,701 (676,188) 195.00% 6,602,339 6,863,086 (260,747) 103.95% ($3,871,678) ($1,538,385) ($2,333,293) 39.73% Yorba Linda Water District Water Fund For Twelve Months Ending June 30, 2013 June YTD YTD YTD Budget Actual Actual Under(Over) % of FY 2013 FY 2013 FY 2013 Budget Budget Revenue (Operating) Water Revenue (Residential) $15,405,197 1,431,413 $15,914,624 (509,427) 103.31% Water Revenue (Commercial & Fire Det.) 1,822,665 154,472 1,890,271 (67,606) 103.71% Water Revenue (Landscape /Irrigation) 4,035,121 416,567 4,161,528 (126,407) 103.13% Water Revenue (Service Charge) 3,755,191 313,035 3,721,459 33,732 99.10% Other Operating Revenue 585,929 60,089 667,743 (81,814) 113.96% Total Operating Revenue: 25,604,103 2,375,576 26,355,625 (751,522) 102.94% Revenue (Non- Operating): - 47,988 0.00% 259,656 Interest 150,000 18,844 119,761 30,239 79.84% Property Tax 1,244,320 13,195 1,325,936 (81,616) 106.56% Other Non - Operating Revenue 490,262 (116,077) 571,816 (81,554) 116.63% Total Non - Operating Revenue: 1,884,582 (84,038) 2,017,513 (132,931) 107.05% Total Revenue Expenses (Operating): Variable Water Costs (G.W., Import & Power) Salary Related Expenses Supplies & Services: Communications Contractual Services Data Processing Dues & Memberships Fees & Permits Board Election Insurance Materials District Activities, Emp Recognition Maintenance Non - Capital Equipment Office Expense Professional Services Training Travel & Conferences Uncollectible Accounts Utilities Vehicle Equipment Supplies & Services Sub -Total Total Operating Expenses Expenses (Non- Operating): Interest on Long Term Debt Other Expense Total Non - Operating Expenses: Total Expenses 27,488,685 2,291,538 28,373,138 (884,453) 103.22% 12,953,024 1,293,587 12,995,317 (42,293) 100.33% 6,741,403 409,199 6,064,112 677,291 94.07% 280,232 17,485 186,569 93,663 66.58% 455,041 47,259 436,173 18,868 95.85% 125,866 6,694 119,560 6,306 94.99% 57,609 764 53,264 4,345 92.46% 139,165 6,241 153,498 (14,333) 110.30% 47,988 - 47,988 0.00% 259,656 248,491 11,165 95.70% 451,506 75,296 733,933 (282,427) 162.55% 17,298 2,923 20,054 (2,756) 115.93% 350,383 83,829 352,227 (1,844) 100.53% 109,782 46,100 159,018 (49,237) 144.85% 37,702 4,483 39,440 (1,738) 104.61% 740,578 171,629 858,356 (117,778) 115.90% 41,353 870 19,742 21,611 47.74% 40,833 2,118 23,882 16,951 58.49% 36,270 14,437 32,089 4,181 88.47% 79,050 191 73,909 5,141 93.50% 282,400 65,620 323,218 (40,818) 114.45% 3,552,711 545,939 3,833,423 (280,712) 107.90% 23,247,138 2,248,725 22,892,852 354,286 98.48% 2,009,777 149,064 1,780,123 229,654 88.57% 118,210 2,238 40,014 78,196 33.85% 2,127,987 151,302 1,820,137 307,850 85.53% 25,375,125 2,400,027 24,712,989 662,136 97.39% Net Income (Loss) Before Capital Contributions 2,113,560 (108,489) 3,660,149 (1,546,589) 173.17% Capital Contributions - 349,303 543,073 543,073 0.00% Net Income (Loss) Before Depreciation 2,113,560 240,814 4,203,222 (1,003,516) 198.87% Depreciation &Amortization 5,332,175 478,735 5,562,388 (230,213) 104.32% Total Net Income (Loss) ($3,218,615) ($237,921) ($1,359,166) ($1,859,449) 42.23% Yorba Linda Water District $1,548,682 Sewer Fund (11,184) For Twelve Months Ending June 30, 2013 Locke Ranch Assessments 198,433 June YTD YTD YTD 149 Budget Actual Actual Under(Over) % of 57,808 FY 2013 FY 2013 FY 2013 Budget Budget Revenue (Operating) Sewer Charge Revenue $1,548,682 $130,253 $1,559,866 (11,184) 100.72% Locke Ranch Assessments 198,433 40 198,284 149 99.92% Other Operating Revenue 57,808 715 58,076 (268) 100.46% Total Operating Revenue: 1,804,923 131,008 1,816,226 (11,303) 100.63% Revenue (Non- Operating): Interest 20,000 1,002 15,713 4,287 78.57% Other Non - Operating Revenue 4,175 (5,148) (4,984) 9,159 - 119.38% Total Non - Operating Revenue: 24,175 (4,146) 10,729 13,446 44.38% Total Revenue 1,829,098 126,862 1,826,955 2,143 99.88% Expenses (Operating): Salary Related Expenses 907,488 57,641 787,779 119,709 87.47% Supplies & Services: Communications 23,018 998 12,578 10,440 54.64% Contractual Services 34,280 3,383 33,400 880 97.43% Data Processing 9,474 504 9,177 297 96.87% Dues & Memberships 4,583 56 4,140 443 90.33% Fees & Permits 12,155 329 15,303 (3,148) 125.90% Board Election 3,612 - 3,612 0.00% Insurance 19,544 18,702 842 95.69% Materials 34,519 723 18,063 16,456 52.33% District Activities, Emp Recognition 1,302 82 1,367 (65) 104.99% Maintenance 74,665 3,609 103,272 (28,607) 138.31% Non - Capital Equipment 18,269 3,159 18,415 (147) 100.80% Office Expense 2,823 283 2,903 (80) 102.83% Professional Services 36,882 3,296 30,274 6,608 82.08% Training 4,747 59 5,365 (618) 113.02% Travel & Conferences 3,418 224 1,577 1,841 46.14% Uncollectible Accounts 2,730 2,038 4,293 (1,563) 157.25% Utilities 5,950 14 6,317 (367) 106.17% Vehicle Equipment 51,499 2,720 48,404 3,095 93.99% Supplies & Services Sub -Total 343,469 21,477 333,550 9,919 97.11% Total Operating Expenses 1,250,957 79,118 1,121,329 129,628 89.64% Expenses (Non- Operating): Interest Expense 1,618 - - 1,618 0.00% Other Expense 6,000 - 6,000 0.00% Total Non - Operating Expenses: 7,618 - - 7,618 0.00% Total Expenses 1,258,575 79,118 1,121,329 137,246 89.10% Net Income (Loss) Before Capital Contributions 570,523 47,744 705,626 (135,103) 123.68% Capital Contributions - 258,804 415,853 415,853 0.00% Net Income (Loss) Before Depreciation 570,523 306,548 1,121,479 280,750 196.57% Depreciation & Amortization 1,270,164 109,760 1,300,698 (30,534) 102.40% Total Net Income (Loss) ($699,641) $196,788 ($179,219) ($520,422) 25.62%