HomeMy WebLinkAbout2013-09-16 - Finance-Accounting Committee Meeting Agenda PacketYorba Linda
Water District
AGENDA
YORBA LINDA WATER DISTRICT
FINANCE - ACCOUNTING COMMITTEE MEETING
Monday, September 16, 2013, 12:00 PM
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
Delia Lugo, Acting Finance 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. 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.
4.1. Request for an Extension for Credit Agreement dated as of September 24, 2012
between the Yorba Linda Water District and Wells Fargo Bank
4.2. Investment Policy Certification
4.3. Investment Report for the Period Ending August 31, 2013
4.4. Budget to Actual Results for August 2013
4.5. Future Agenda Items and Staff Tasks
5. ADJOURNMENT
5.1. The next Finance - Accounting Committee meeting is scheduled to be held Monday,
October 28, 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.
ITEM NO. 4.1
AGENDA REPORT
Meeting Date: September 16, 2013
Subject: Request for an Extension for Credit Agreement dated as of September 24,
2012 between the Yorba Linda Water District and Wells Fargo Bank
ATTACHMENTS:
NaM6 Description: Type:
LOC Extension Form.docx Exhibit "A" - Form of Request for Extension Backup Material
LOC Advance Schedule.xlsx LOC Draw Request Detail Listing Backup Material
EXHIBIT "A"
FORM OF REQUEST FOR EXTENSION
RE: Credit Agreement dated as of September 24, 2012 between the Yorba Linda
Water District and Wells Fargo Bank, N.A.
The undersigned, as Acting General Manager of the Yorba Linda Water District (the
"District "), is authorized under the Credit Agreement dated as of September 24, 2012
(the "Credit Agreement," to which reference is made for the definition of capitalized
terms not otherwise defined herein) between the District and Wells Fargo Bank,
National Association (the "Bank ") hereby certifies as follows:
(1) Pursuant to Section 1.1(d) of the Credit Agreement, the District hereby
requests an extension of the Maturity Date to September 24, 2016.
(2) The representations and warranties of the District contained in Article II of the
Credit Agreement are true and correct on and as of the date hereof as though
made on and as of the date hereof.
(3) No default or Event of Default has occurred and is continuing or could result
from the requested extension of the Maturity Date.
IN WITNESS WHEREOF, the undersigned has executed and delivered this Request for
Extension the 16th day of September, 2013.
YORBA LINDA WATER DISTRICT
Name: Steven R. Conklin
Tittle: Acting General Manager
Yorba Linda Water District
Detailed Schedule of Advances
Re: WFB Letter of Credit of September 24, 2012
$7,000,000.00 Total of 9/24/12 LOC
Advance
Advance
Advance
Advance
Advance
Advance
Scheduled
Total
Project Date
Date
Date
Date
Date
Date
Draw for
Advance
Project /Job # Description 9/30/2013
5/3/2013
6/17/2013
6/27/2013
7/30/2013
8/28/2013
9/25/2013
Per Project
$100,000.00
Initial Draw
2008 -14
Highland Booster Station Upgrade
2008 -17
Yorba Linda Pipeline
2008 -17B
Yorba Linda Blvd Booster Pump Station
2009 -21/22
Recycled Water Stdy /Well #21
2010 -02
Lakeview Grade
2010 -11B
Fairmont Reservoir, BPS & Site Imp
2011 -20
2010 Waterline Project - Phase II
2013 -075
Sewer Slipline 7/30 - 7/52
$100,000.00
$100,000.00
$1,715.00
$1,715.00
$270.00
$732.50
$1,002.50
$10,676.09
$238,655.71
$153,432.70
$94,357.63
$497,122.13
$13,054.50
$4,017.50 $1,526.10
$18,598.10
$38.06
$573.48
$611.54
$4,039.25
$1,007.56
$18,166.00
$18,166.00 $20.28
$41,399.09
$426,518.41
$346,841.52
$21,897.50 $120,189.13
$69,688.50 $21,546.71
$1,006,681.77
$11,984.00
$11,984.00
$0.00
Total Per Advance $100,000.00 $441,541.81 $589,525.77 $40,063.50 $298,660.33 $186,229.63 $23,093.09 $1,679,114.13
Total Remaining LOC Balance (Net of Advances) $5,320,885.87
Meeting Date:
To:
From:
Presented By:
Prepared By:
Subject:
SUMMARY:
ITEM NO. 4.2
AGENDA REPORT
September 16, 2013
Finance - Accounting Committee
Steve Conklin, Acting General
Manager
Delia Lugo, Acting Finance Dept: Finance
Manager
Steve Conklin, Acting General
Manager
Investment Policy Certification
The California Municipal Treasurers Association has conferred its Investment Policy Certification on
the Yorba Linda Water District. A copy of the certification is attached.
DISCUSSION:
The District has earned the Certified California Municipal Treasurers (CCMT) designation based on
its current Investment Policy. This designation was developed by the California Municipal
Treasurers Association (CMTA) with support from the California Debt and Investment Advisory
Commission (CDIAC) to certify that the investment policy of Yorba Linda Water District complies
with the current State statutes governing the investment practices of local government entities
located within the State of California.
The District's Investment Policy was reviewed and judged by a team from the Investment Policy
Certification Committee of CMTA in 18 different areas including Ethics and Conflicts of Interest,
Diversification, Internal Controls, Performance Standards, and Reporting.
Benefits of attaining this certification include the following:
• Trust, confidence and verification that the policy was certified by a professional public sector
organization
• Transparency of the District on our investments to the public
• Demonstrates due diligence in the creation of the District's Investment Policy
• Assists to satisfy auditors when reviewing District's policy
Other local agencies who have also achieved the CMTA Investment Policy Certification include
Cucamonga Valley Water District, the City of Irvine and Orange County Sanitation District.
As the District strives to earn CSDA's District of Distinction award, certifications such as this, which
are earned from distinguished public sector organizations, strengthen the financial section of the
application and get us one step closer to this most coveted award.
This is presented to the Committee to consider forwarding to the Board of Directors to inform them
of this latest achievement by District staff.
ATTACHMENTS:
Description: Type:
SKMBT C55213090310460.pdf Investment Policy Certification Backup Material
Ni A, CALIFORNIA MUNICIPAL TREASURERS ASSOCIATION,[
Serving California Since 1959
Stephen Parker, Finance Manager
Yorba Linda Water District
PO Box 309
Yorba Linda, CA 92885
August 15, 2013
Dear Mr. Parker,
Congratulations on your successful completion of the California Municipal Treasurers Association's
Investment Policy Certification program.
Your Policy was reviewed by a team of three reviewers from the Investment Policy Certification
committee. The Policy received a passing score of 85 or higher based on CMTA's criteria for Investment
Policies.
The certificate is enclosed and on behalf of the California Municipal Treasurers Association, I wish to
personally thank you for supporting CMTA.
Don't forget next year's CMTA conference will be held at the Hyatt Regency San Francisco Airport,
Burlingame on April 15 -18. 1 am personally looking forward to seeing you there.
Sincerely,
4
Shaun L. Farrell
Investment Policy Certification Chairperson
CNITA 1 1215 K Street, Suite 940 1 Sacramento, CA 95814 1 www.cmta.org E Telephone: 916- 231 -2144 1 Fax: 916 -231 -2141
CALIFORNIA MUNICIPAL
TREASURERS ASSOCIATION
Issued On 08/15/2013
Yorba Linda Water District
The California Municipal Treasurers Association certifies that the investment policy of the Yorba Linda Water District complies
with the current State statutes governing the investment practices of local government entities located within the State of California.
Presiders
60 13
Date
ITEM NO. 4.3
AGENDA REPORT
Meeting Date: September 16, 2013
To:
Finance - Accounting Committee
From:
Steve Conklin, Acting General
Manager
Presented By:
Delia Lugo, Acting Finance
Manager
Prepared By:
Delia Lugo, Acting Finance
Manager
Subject:
Investment Report for the Period Ending August 31, 2013
SUMMARY:
Staff is submitting the August 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 August 31, 2013 is 0.68 %.
The overall increase in the investment balance from the previous month is approximately $546,000.
A couple of the larger balance changes include an increase in the Water Operating fund of
approximately $573,000 and a decrease in the Water Capital Project Reserve of $18,000.
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:
Invst Rpt 8- 13.xlsx
Invst Agenda Backup - August 2013.xlsx
Description:
Type:
Investment Report for Period Ending August 31, 2013 Backup Material
Agend Backup Backup Material
Yorba Linda Water District
Investment Portfolio Report
August 31, 2013
Market % Date of Percent
Value Par of Total Institution Maturity Yield
Checking Account:
$ 168,039 $ 168,039 Wells Fargo Bank
4,605 4,605 Pershing
$ 172,644 $ 172,644 0.90% Total 0.00%
Money Market Accounts
$ 54,959 $
54,959
Wells Fargo Money Market
0.05%
23,247
23,247
US Bank (Revenue Bonds)
0.04%
6,125,832
6,125,832
Bank of the West
0.34%
$ 6,204,038 $
6,204,038 32.32%
Total
0.34%
Federal Agency Securities
$ 483,160 $
500,000
Fannie Mae
05/25/18
1.16%
482,740
500,000
Federal Home Loan Bank
06/12/18
1.03%
487,250
500,000
Fannie Mae
06/12/18
0.82%
484,360
500,000
Federal Home Loan Bank
06/13/18
1.13%
484,660
500,000
Federal Home Loan Bank
06/20/18
1.16%
2,133,908
2,144,397
Federal Home Loan Bank
05/28/14
1.36%
$ 4,556,078 $
4,644,397 23.73%
Total
05/14/18
1.20%
Certificates of'Deposits
$ 240,203
$ 248,000
CIT Bank, Salt Lake
05/22/18
1.23%
240,203
248,000
Discover
05/22/18
1.23%
240,600
248,000
Goldman Sachs Bank
05/22/18
1.23%
240,257
248,000
Beal Bank
05/23/18
1.03%
241,731
248,000
Wells Fargo
04/27/18
0.92%
237,910
247,000
Barclays Bank
05/14/18
0.72%
241,088
248,000
State Bank of India
05/14/18
1.18%
242,182
249,000
Webster Bank
05/03/18
0.92%
240,178
248,000
American Express Centurion Bank
05/28/18
1.23%
240,411
248,000
GE Capital Bank
05/24/18
1.13%
245,083
249,000
Merrick Bank
05/24/17
0.76%
244,119
248,000
BMW Bank
05/24/17
0.91%
246,470
249,000
Firstbank Puerto Rico
05/24/16
0.75%
241,114
249,000
Oriental Bank & Trust
05/29/18
1.08%
241,199
249,000
Silvergate Bank
05/30/18
1.03%
241,087
249,000
Enterprise Bank & TR Co Lowell
05/30/18
1.03%
241,084
249,000
Safra National Bank
05/31/18
1.03%
240,131
248,000
TOwnebankPortsmouth
05/31/18
1.03%
241,104
249,000
Mascona Savings Bank
05/29/18
1.03%
$ 4,586,155
$ 4,719,000 23.89%
Total
0.81%
Pooled Investment
Accounts:
$ 606,100
$ 606,100
Local Agency Investment Fund
0.27%
1,309,321
1,308,015
CalTRUST Short Term
0.34%
1,763,015
1,770,775
CalTRUST Medium Term
0.63%
$ 3,678,437
$ 3,684,890 19.16%
0.47%
$ 19,197,352
$ 19,424,968 100%
T otal Investments
0.68%
Per Government Code requirements, the Investment Report is in compliance with the Yorba
Linda Water Districts Investment Policy, and there are adequate funds available to meet
budgeted and actual expenditures for the next six months.
Delia Lugo, Senior Accountant
8/31/13
Investment Summary Report
Below is a chart summarizing the yields as well as terms and maturities for the month of August 2013:
Average
# of
Month Portfolio
Days to
of 2013 Yield
Maturity
August 0.68%
665
Below is are charts comparing operating fund interest for current and prior fiscal years.
Actual Interest
Monthly - August
Year -to -Date
8/31/2012
8/31/2013
$ 9,657 $ 7,775
$ 12,487 $ 17,063
Budget 2012/2013 2013/2014
Interest Budget, August YTD $ 25,000 $ 14,500
Interest Budget, Annual $ 150,000 $ 87,000
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:
July 2013
% Alloc
August 2013
% Alloc
Fund Description
Balance
7/31/2013
Balance
8/31/2013
Water Operating Reserve
$ 2,023,304
11.16%
$ 2,879,161
15.14%
Water Emergency Reserve
989,315
5.45%
986,374
5.18%
Water Capital Project Reserve
7,760,478
42.76%
7,742,443
40.67%
Water Reserve for Debt Service
2,723,509
15.01%
2,726,291
14.33%
Maintenance Reserve
200,894
1.11%
200,000
1.05%
Employee Liability Reserve
100,000
0.55%
100,000
0.53%
COP Revenue Bond 2008 - Reserve
2,159,438
11.90%
2,157,155
11.34%
Sewer Operating
16,207
0.09%
66,906
0.35%
Sewer Emergency Reserve
1,001,916
5.52%
1,001,439
5.26%
Sewer Capital Project Reserve
1,170,136
6.45%
1,169, 544
6.15%
$ 18,145,197
100.00%
$ 19,029,313
100.00%
Wells Fargo Bank Checking
Water Operating
194,513
(88,084)
Sewer Operating
311,345
256,123
505,858
168,039
Totals
$ 18,651,055
$ 19,197,352
Meeting Date:
To:
From:
Presented By:
Prepared By:
Subject:
DISCUSSION:
ITEM NO. 4.4
AGENDA REPORT
September 16, 2013
Finance - Accounting Committee
Steve Conklin, Acting General
Manager
Delia Lugo, Acting Finance Dept: Finance
Manager
Delia Lugo, Acting Finance
Manager
Budget to Actual Results for August 2013
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 August 2013.
For the month of August 2013, the District water revenue is 20.8% of annual budget, which is 2.6%
lower than the historical trend for this point in the year.
The majority of the Water Fund's individual Supplies and Services expenses are below budget, with
the exceptions of Dues and Memberships and Materials, still due to the previous month's reported
reasons.
Overall, Sewer Supplies and Services expenses are trending below budget, with the same
exceptions noted in the water fund.
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:
dme: Description: Type:
August 2013 consolidated stmt.xlsx August 2013 Consolidated Statement Backup Material
August 2013 Water Stmt.xlsx August 2013 Water Statement Backup Material
August 2013 Sewer Stmt.xlsx August 2013 Sewer Stmt Backup Material
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):
Interest
Property Tax
Other Non - Operating Revenue
Total Non - Operating Revenue:
Yorba Linda Water District
Summary Financial Report
Water & Sewer Funds
For Two Months Ending August 31, 2013
Annual YTD YTD YTD YTD YTD
Budget Budget Actual Under(Over) Under(Over) % of
FY 2014 FY 2014 FY 2014 Annual Budget YTD Budget Budget
$16,217,590 $2,702,932 $3,599,190 $12,618,400 $ (896,258) 22.19%
2,020,223
336,704
390,528
1,629,695
(53,824)
19.33%
4,794,156
799,026
1,035,148
3,759,008
(236,122)
21.59%
4,468,716
744,786
678,160
3,790,556
66,626
15.18%
1,550,530
258,422
266,947
1,283,583
(8,525)
17.22%
200,797
33,466
443
200,354
33,023
0.22%
717,749
119,625
198,831
518,918
(79,206)
27.70%
29,969,761
4,994,960
6,169,247
23,800,514
18,465
20.58%
87,000
14,500
17,063
69,937
(2,563)
19.61%
1,264,672
210,779
7,430
1,257,242
203,349
0.59%
509,150
84,858
48,278
460,872
36,580
9.48%
1,860,822
310,137
72,771
1,788,051
237,366
3.91%
Total Revenue 31,830,683 6,306,097 6,242,018 26,688,666 237,366 19.61%
Expenses (Operating)
Variable Water Costs (G.W., Import & Power)
13,767,658
2,294,610
1,762,761
12,004,897
531,849
12.80%
Salary Related Expenses
7,904,873
1,317,479
1,293,891
6,610,982
23,588
16.37%
Supplies & Services
4,225,654
704,276
339,956
3,885,698
364,320
8.05%
Total Operating Expenses
25,898,185
4,316,364
3,396,608
22,501,577
919,756
13.12%
Expenses (Non- Operating):
Interest on Long Term Debt
1,815,317
302,553
284,088
1,531,229
18,465
15.65%
Other Expense
77,400
12,900
4,476
72,924
8,424
5.78%
Total Non - Operating Expenses:
1,892,717
315,453
288,564
1,604,153
26,889
15.25%
Total Expenses 27,790,902 496319817 396869172 2491069730 9469646 13.26%
Net Income (Loss) Before Capital Contributions 4,039,681 6739280 296669846 194829836 (7099279) 63.29%
Capital Contributions
83,371 83,371 (83,371) 0.00%
Net Income (Loss) Before Depreciation 4,039,681 673,280 2,640,217 1,666,206 (792,660) 66.36%
Depreciation & Amortization 6,897,941 1,149,657 1,176,990 5,720,951 (27,333) 17.06%
Total Net Income (Loss) ($2,868,260) ($476,377) $1,463,227 ($4,321,487) ($1,939,604) - 61.19%
Yorba Linda Water District
Water Fund
For Two Months Ending August 31, 2013
Annual YTD AUG YTD YTD YTD YTD
Budget Budget Actual Actual Under(Over) Under(Over) % of Annual
FY 2014 FY 2014 FY 2014 FY 2014 Annual Budget YTD Budget Budget
Revenue (Operating)
Water Revenue (Residential)
$16,217,590
$2,702,932
$2,033,304
$3,599,190
12,618,400
(896,258)
22.19%
Water Revenue (Commercial & Fire Det.)
2,020,223
336,704
219,212
390,528
1,629,695
(53,824)
19.33%
Water Revenue (Landscape /Irrigation)
4,794,156
799,026
598,826
1,035,148
3,759,008
(236,122)
21.59%
Water Revenue (Service Charge)
4,468,716
744,786
364,966
678,160
3,790,556
66,626
15.18%
Other Operating Revenue
681,074
113,512
66,945
169,727
511,347
(56,215)
24.92%
Total Operating Revenue:
28,181,759
4,696,960
3,283,253
5,872,753
22,309,006
(1,175,793)
20.84%
Revenue (Non- Operating)
Interest
75,000
12,500
7,126
16,407
58,593
(3,907)
21.88%
Property Tax
1,264,672
210,779
7,430
7,430
1,257,242
203,349
0.59%
Other Non - Operating Revenue
501,200
83,533
14,057
50,947
450,253
32,586
10.17%
Total Non - Operating Revenue:
1,840,872
306,812
28,613
74,784
1,766,088
232,028
4.06%
Total Revenue
1,886,717
-
144,282
288,564
1,598,153
(288,564)
15.29%
30,022,631
5,003,772
3,311,866
5,947,537
24,075,094
(943,765)
19.81%
13.18%
Net Income (Loss) Before Capital Contributions
3,534,735
903,575
1,218,357
2,457,220
1,077,515
Expenses (Operating):
69.52%
Capital Contributions
-
-
-
81,704
81,704
Variable Water Costs (G.W., Import & Power)
13,767,658
2,294,610
1,075,948
1,762,761
12,004,897
531,849
12.80%
Salary Related Expenses
6,987,204
1,164,534
700,061
1,135,040
5,852,164
29,494
17.10%
Supplies & Services:
17.10%
Total Net Income (Loss)
($2,063,903)
($29,531)
$739,622
$1,581,454
($3,645,357)
Communications
283,371
47,229
4,189
12,541
270,830
34,688
4.43%
Contractual Services
504,089
84,015
27,374
40,642
463,447
43,373
8.06%
Data Processing
158,779
26,463
2,611
2,740
156,039
23,723
1.73%
Dues & Memberships
67,021
11,170
465
23,972
43,049
(12,802)
35.77%
Fees & Permits
152,224
25,371
8,230
7,109
145,115
18,262
4.67%
Insurance
278,293
46,382
56
56
278,237
46,326
0.02%
Materials
568,676
94,779
34,566
99,492
469,184
(4,713)
17.50%
District Activities, Emp Recognition
23,390
3,898
459
459
22,931
3,439
1.96%
Maintenance
357,243
59,541
20,171
25,718
331,525
33,823
7.20%
Non - Capital Equipment
121,534
20,256
4,763
7,865
113,669
12,391
6.47%
Office Expense
42,920
7,153
746
3,827
39,093
3,326
8.92%
Professional Services
747,785
124,631
55,754
55,256
692,529
69,375
7.39%
Training
64,403
10,734
-
(79)
64,482
10,813
-0.12%
Travel & Conferences
48,389
8,065
1,230
2,241
46,148
5,824
4.63%
Uncollectible Accounts
23,250
3,875
36
6
23,244
3,869
0.03%
Utilities
83,700
13,950
-
-
83,700
13,950
0.00%
Vehicle Equipment
321,250
53,542
12,568
22,107
299,143
31,435
6.88%
Supplies & Services Sub -Total
3,846,317
641,053
173,218
303,952
3,542,365
337,101
7.90%
Total Operating Expenses
24,601,179
4,100,197
1,949,227
3,201,753
21,399,426
898,444
13.01%
Expenses (Non- Operating):
Interest on Long Term Debt
1,815,317
-
142,044
284,088
1,531,229
(284,088)
15.65%
Other Expense
71,400
2,238
4,476
66,924
(4,476)
6.27%
Total Non - Operating Expenses:
1,886,717
-
144,282
288,564
1,598,153
(288,564)
15.29%
Total Expenses
26,487,896
4,100,197
2,093,509
3,490,317
22,997,579
609,880
13.18%
Net Income (Loss) Before Capital Contributions
3,534,735
903,575
1,218,357
2,457,220
1,077,515
(1,553,645)
69.52%
Capital Contributions
-
-
-
81,704
81,704
(81,704)
0.00%
Net Income (Loss) Before Depreciation
3,534,735
903,575
1,218,357
2,538,924
1,159,219
(1,635,349)
71.83%
Depreciation & Amortization
5,598,638
933,106
478,735
957,470
4,641,168
(24,364)
17.10%
Total Net Income (Loss)
($2,063,903)
($29,531)
$739,622
$1,581,454
($3,645,357)
($1,610,985)
- 76.62%
Capital - Direct Labor
(34,208)
(59,876)
Revenue (Operating):
Sewer Charge Revenue
Locke Ranch Assessments
Other Operating Revenue
Total Operating Revenue:
Revenue (Non- Operating):
Interest
Other Non - Operating Revenue
Total Non - Operating Revenue:
Total Revenue
Expenses (Operating):
Salary Related Expenses
Supplies & Services:
Communications
Contractual Services
Data Processing
Dues & Memberships
Fees & Permits
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
Yorba Linda Water District
Sewer Fund
For Two Months Ending August 31, 2013
Annual YTD AUG YTD YTD YTD YTD
Budget Budget Actual Actual Under(Over) Under(Over) % of
FY 2014 FY 2014 FY 2014 FY 2014 Annual Budget YTD Budget Annual Budget
$1,550,530
$258,422
$134,495
$266,947
$1,283,583 $
(8,525)
17.22%
200,797
33,466
443
443
200,354
33,023
0.22%
36,675
6,113
7,058
29,104
7,571
(22,992)
79.36%
1,788,002
298,000
141,996
296,494
1,491,508
1,506
16.58%
12,000
2,000
649
656
11,344
1,344
5.47%
7,950
1,325
(31)
(2,669)
10,619
3,994
- 33.57%
19,950
3,325
618
(2,013)
21,963
5,338
- 10.09%
1,807,952 301,325 142,614 294,481 1,513,471 6,844 16.29%
917,669
152,945
98,067
158,851
758,818
(5,906)
17.38%
21,829
3,638
315
944
20,885
2,694
4.32%
38,751
6,459
2,511
3,477
35,274
2,982
8.97%
11,951
1,992
196
206
11,745
1,786
1.72%
5,314
886
35
1,804
3,510
(918)
33.95%
15,141
2,524
766
2,309
12,832
215
15.25%
20,947
3,491
4
4
20,943
3,487
0.02%
19,099
3,183
2,909
9,124
9,975
(5,941)
47.77%
1,761
294
35
35
1,726
259
1.99%
121,908
20,318
6,989
7,407
114,501
12,911
6.08%
16,417
2,736
1,524
1,903
14,514
833
11.59%
3,231
539
56
288
2,943
251
8.91%
37,425
6,238
3,379
4,452
32,973
1,786
11.90%
6,757
1,126
77
726
6,031
400
10.74%
4,062
677
96
172
3,890
505
4.23%
1,750
292
5
(4)
1,754
296
-0.23%
7,100
1,183
-
-
7,100
1,183
0.00%
45,899
7,650
1,106
3,157
42,742
4,493
6.88%
379,342
63,224
20,003
36,004
343,338
27,220
9.49%
Total Operating Expenses
1,297,011
216,169
118,070
194,855
1,102,156
21,314
15.02%
Expenses (Non- Operating):
Interest Expense
-
-
-
-
-
0
0.00%
Other Expense
6,000
1,000
-
-
6,000
1,000
0.00%
Total Non - Operating Expenses:
6,000
1,000
-
-
6,000
1,000
0.00%
Total Expenses
1,303,011
217,169
118,070
194,855
1,108,156
(890,988)
14.95%
Net Income (Loss) Before Capital Contributions
504,941
84,157
24,544
99,626
405,315
897,832
19.73%
Capital Contributions
-
-
-
1,667
1,667
(1,667)
0.00%
Net Income (Loss) Before Depreciation
504,941
84,157
24,544
101,293
406,982
896,165
20.06%
Depreciation & Amortization
1,299,298
216,550
109,760
219,520
1,079,778
(2,970)
16.90%
Total Net Income (Loss)
($794,357)
($132,393)
($85,216)
($118,227)
($672,796)
$899,135
14.88%
Capital - Direct Labor
(599)
(652)