HomeMy WebLinkAbout2013-06-28 - Finance-Accounting Committee Meeting Agenda PacketYorba Linda
Water District
AGENDA
YORBA LINDA WATER DISTRICT
FINANCE - ACCOUNTING COMMITTEE MEETING
Friday, June 28, 2013, 8:00 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
Stephen Parker, 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. 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. Sewer Charges Collected on the Tax Roll for Fiscal Year 2013/14
Recommendation. That the Committee recommend the Board of Directors adopt
Resolution No. 13 XX Electing to Have Certain Sewer Maintenance Charges
Collected on the FY 2013114 Tax Roll and Superseding Resolution No. 12 -16.
4.2. OPEB Deposit with CERBT
Recommendation. That the Committee recommend the Board of Directors
authorize staff to deposit $170,191 (the District's Annual Required Contribution) to
the California Employees' Retirement Benefit Trust ( CERBT) for FY 2013114.
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. Investment Report for Period Ending May 31, 2013
5.2. Budget to Actual Results for May 2013
5.3. Short -Term Financing Rate (Verbal Report)
5.4. Preparation of 1 Year vs. 2 Year Budget (Verbal Report)
5.5. Future Agenda Items and Staff Tasks
6. ADJOURNMENT
6.1. The next Finance - Accounting Committee meeting is scheduled to be held Monday, July
22, 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: June 28, 2013
To: Finance - Accounting Committee
From: Steve Conklin, Acting General
Manager
Presented By: Stephen Parker, Finance
Manager
Prepared By: Stephen Parker, Finance
Manager
Dept:
Reviewed by Legal
ITEM NO. 4.1
Finance
Yes
Subject: Sewer Charges Collected on the Tax Roll for Fiscal Year 2013/14
SUMMARY:
Each year at this time, the Board of Directors elects to collect certain sewer maintenance charges
on the property tax rolls.
STAFF RECOMMENDATION:
That the Committee recommend the Board of Directors adopt Resolution No. 13 -XX Electing to
Have Certain Sewer Maintenance Charges Collected on the FY 2013/14 Tax Roll and Superseding
Resolution No. 12 -16.
DISCUSSION:
The District collects the Sewer Maintenance Charge by adding it to the water bill of customers
where the District provides water service and the customer also has a connection to the sewer
system. For customers connected to the District sewer system that receive water service from
another purveyor or those customers that do not receive a water bill from the District, the Sewer
Maintenance Charge is collected through the property tax rolls prepared by the County of Orange
Auditor /Controller. This process is legally authorized and established by Resolution of the Board.
Residents of the Locke Ranch area do not receive water from the District, so their sewer charges
are collected on the tax roll. In addition, due to the disparity in rates between the City of Yorba Linda
and the District's Sewer Maintenance Charges, it has been determined that those classifications
with rate differences need to be placed on the tax roll for collection until a Proposition 218 process
can be completed to equalize the rates.
The Sewer Maintenance Charges are subject to the substantive and procedural requirements of
Proposition 218 (California Constitution Article XIII D) barring an increase in the rates and /or a
discretionary CPI increase of more than 5 %, except with proper notification to the property owners
affected allowing adequate opportunity to protest any such increases. Staff is not recommending a
change to the current sewer maintenance charge at this time.
To collect the current maintenance charges on the tax rolls for Fiscal Year 2013/14, the County of
Orange Auditor /Controller's Office requires a certified Resolution by the Board of Directors directing
their office to add the charges to the tax rolls for the properties assessed. The County establishes a
deadline in August to receive this information.
PRIOR RELEVANT BOARD ACTION(S):
On July 26, 2012 the Board of Directors passed Resolution No. 12 -16 electing to have the sewer
maintenance charges collected on the Fiscal Year 2012/13 tax roll.
ATTACHMENTS:
Description: Type:
Resolution No. 13- XX.docx Resolution Backup Material
RESOLUTION NO. 13 -XX
RESOLUTION OF THE BOARD OF DIRECTORS
OF THE YORBA LINDA WATER DISTRICT
ELECTING TO HAVE CERTAIN SEWER MAINTENANCE CHARGES
COLLECTED ON THE FISCAL YEAR 2013/14 TAX ROLL
AND SUPERCEDING RESOLUTION NO. 12 -16
WHEREAS, Resolution No. 11 -17 set out sewer rates for the Yorba Linda Water
District ( "District ") and via Resolution 07 -13 these rates are in compliance
with substantive and procedural requirements of Proposition 218
(California Constitution Art. XIII D); and
WHEREAS, under the authority of the California Water Code Sections 31100 the
District may provide sewer service to property located outside the District
boundaries and the District's Regulations for Rendition of Sanitary Sewer
Service include a provision that a sewer maintenance charge is adopted
by Resolution; and
WHEREAS, under authority of California Water Code Sections 31101 and 31102 the
District may prescribe and collect charges for sewer services and facilities
and may collect sewer charges in any lawful manner; and
WHEREAS, under California Health and Safety Code Sections 5471 and 5473 the
District may elect to have the County of Orange Auditor /Controller collect
sewer charges on the Orange County Property Tax Roll.
NOW THEREFORE, BE IT RESOLVED by the Board of Directors of the Yorba Linda
Water District to adopt Sewer Maintenance Charge as follows:
Section 1. The Board of Directors elects to have the County of Orange
Auditor /Controller collect the charges fixed herein on the tax roll in the same
manner, by the same persons, and at the same time and together with and
not separately from County of Orange taxes.
Section 2. The General Manager or his designee is authorized and directed to file with
the County of Orange Auditor /Controller a copy of this Resolution together
with the listing of parcel numbers and amounts of charges shown in Exhibit
"A" and such other documentation as the County Auditor /Controller may
require in order to accomplish the purposes of this Resolution.
Section 3. Resolution No. 12 -16 is superseded effective immediately by the adoption of
this Resolution.
Resolution No. 13 -XX Electing to Have Certain Sewer Maintenance Charges Collected on the FY 2013/14 Tax Roll
PASSED AND ADOPTED this 11th day of July 2013 by the following called vote:
AYES:
NOES:
ABSTAIN:
ABSENT:
Gary Melton, President
Yorba Linda Water District
ATTEST:
Steven R. Conklin, Board Secretary
Yorba Linda Water District
Reviewed as to form by General Counsel:
Arthur G. Kidman, Esq.
Kidman Law LLP
Resolution No. 13 -XX Electing to Have Certain Sewer Maintenance Charges Collected on the FY 2013/14 Tax Roll
AGENDA REPORT
Meeting Date: June 28, 2013
To: Finance - Accounting Committee
From:
Steve Conklin, Acting General
Manager
Presented By:
Stephen Parker, Finance
Manager
Prepared By:
Stephen Parker, Finance
Manager
Subject:
OPEB Deposit with CERBT
STAFF RECOMMENDATION:
Budgeted:
Total Budget:
Cost Estimate:
Funding Source:
Account No:
Dept:
ITEM NO. 4.2
Yes
$170,191
$170,191
Operating Funds
1- 2010- 0550 -00
Finance
That the Committee recommend the Board of Directors authorize staff to deposit $170,191 (the
District's Annual Required Contribution) to the California Employees' Retirement Benefit Trust
(CERBT) for FY 2013/14.
DISCUSSION:
The District's budgeted Annual Required Contribution (ARC) for Other Post - Employment Benefits
(OPEB) for FY 13/14 is $170,191. The anticipated OPEB pay -as- you -go expenses for FY 13/14 are
$167,656.
For FY 13/14, staff proposes that the District pre -fund the California Employees Retirement Benefit
Trust (CERBT) with the ARC. By pre- funding the CERBT, the District can submit for reimbursement
for actual retiree costs for the periods of July 2013 through June 2014, but take advantage of the
CERBT's superior investment rate of return in the meantime. Staff is planning to submit those
reimbursement requests at the end of FY 2013/14.
PRIOR RELEVANT BOARD ACTION(S):
On July 12, 2012, the Board authorized staff to deposit $275,197 to the California Employees
Retirement Benefit Trust for FY 12/13, to pay down a portion of the District's Other Post
Employment Benefits liability.
Meeting Date:
To:
From:
Presented By:
Prepared By:
Subject:
SUMMARY:
AGENDA REPORT
June 28, 2013
Finance - Accounting Committee
Steve Conklin, Acting General
Manager
Stephen Parker, Finance Dept:
Manager
Delia Lugo, Senior Accountant
Investment Report for Period Ending May 31, 2013
ITEM NO. 5.1
Finance
Staff is submitting the May 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 May 31, 2013 is 0.74 %.
The overall increase in the investment balance from the previous month is approximately $837,000.
A couple of the larger balance changes include increases in the Water Operating fund of
approximately $600,000 which is primarily due a decrease in our accounts payable obligations for
this reporting month and an increase in the Reserve for Debt Service of $213,000 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 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 May a Federal Agency Security and Negotiable Certificates of Deposit that meet the
guidelines of the Investment Policy were purchased. These purchases helped increase the
portfolio's yield from 0.65% to 0.75% despite further decreases in LAIF and CaITRUST's Short Term
and Medium Term pooled accounts.
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:
Ndllle. Description: Type:
Invst 5- 13.xlsx Investment Report for Period Ending May 2013 Backup Material
Invst Agenda Backup -May 2013.xlsx Agenda Backup Backup Material
Yorba Linda Water District
Investment Portfolio Report
May 31, 2013
Market % Date of Percent
Value Par of Total Institution Maturity Yield
Checking Account.
$ 246,089 $ 246,089 Wells Fargo Bank
$ 246,089 $ 246,089 1.33% Total 0.00%
Money Market Accounts:
$
54,954
23,245
736,935
$
54,954
23,245
736,935
Wells Fargo Money Market
US Bank (Revenue Bonds)
Bank of the West
0.05%
0.04%
0.34%
$
815,134
$
815,134 4.41%
Total
0.31%
Federal Agency
Securities:
246,145
$
498,400
$
500,000
Fannie Mae
05/25/18 1.13%
246,249
2,139,703
248,000
2,144,397
Federal Home Loan Bank
05/28/14 1.35%
$
2,638,103
$
2,644,397 14.29%
Total
1.31%
Certificates of Deposits:
$
246,145
$
248,000
CIT Bank
05/22/18
1.20%
246,145
248,000
Discover
05/22/18
1.20%
246,145
248,000
Goldman Sachs Bank
05/22/18
1.20%
246,249
248,000
Beal Bank
05/23/18
1.00%
247,373
248,000
Wells Fargo
04/27/18
0.90%
246,212
247,000
Barclays Bank
05/14/18
1.07%
247,015
248,000
State Bank of India
05/14/18
1.15%
247,982
249,000
Webster Bank
05/03/18
0.90%
246,135
248,000
American Express Centurion Bank
05/28/18
1.20%
246,118
248,000
GE Capital Bank
05/24/18
1.10%
247,715
249,000
Merrick Bank
05/24/17
0.75%
246,725
248,000
BMW Bank
05/24/17
0.90%
247,860
249,000
Firstbank Puerto Rico
05/24/16
0.75%
247,160
249,000
Oriental Bank & Trust
05/29/18
1.05%
247,267
249,000
Silvergate Bank
05/30/18
1.00%
$
3,702,245
$
3,724,000 20.05%
Total
1.02%
Pooled Investment Accounts:
$
350,379
$
350,379
Local Agency Investment Fund
0.25%
29,463
29,476
Ca1TRUST Short Term
0.29%
10,683,813
10,688,619
Ca1TRUST Medium Term
0.56%
$
11,063,655
$
11,068,474 59.92%
0.55%
$
18,465,227
$
18,498,094 100%
Total Investments
0.74%
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
5/31/13
Investment Summary Report
Below is a chart summarizing the yields as well as terms and maturities for the month of May 2013:
Avg. Portfolio
Avg. Portfolio
# of
Month Yield Without
Yield With
Days to
of 2013 CaITRUST
CaITRUST
Maturity
May 0.98%
0.74%
461
Below is are charts comparing operating fund interest for current and prior fiscal years.
Actual Interest
5/31/2012
Monthly - April $ 32,494
Year -to -Date $ 223,138
5/31/2013
21,085
115,627
Budget 2011/2012 2012/2013
Interest Budget, April YTD $ 174,167 $ 137,500
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:
April 2013
% Alloc
May 2013
% Alloc
Fund Description
Balance
4/30/2013
Balance
5/31/2013
Water Operating Reserve
$ 3,399,704
19.46%
$ 3,922,419
19.46%
Water Emergency Reserve
1,009,086
5.77%
1,006,647
5.77%
Water Capital Project Reserve
7,770,376
44.46%
7,748,028
44.46%
Water Reserve for Debt Service
796,836
4.56%
1,010,637
4.56%
Maintenance Reserve
200,715
1.15%
200,715
1.15%
COP Revenue Bond 2008 - Reserve
2,151,093
12.31%
2,162,948
12.31%
Sewer Operating
16,267
0.09%
16,229
0.09%
Sewer Emergency Reserve
1,008,077
5.77%
1,005,640
5.77%
Sewer Capital Project Reserve
1,123,213
6.43%
1,145,875
6.43%
$ 17,475,367
100.00%
$ 18,219,138
100.00%
Wells Fargo Bank Checking
Water Operating
(122,787)
(21,263)
Sewer Operating
275,953
267,352
153,166
246,089
Totals
$ 17,628,533
$ 18,465,227
Meeting Date:
To:
From:
Presented By:
Prepared By:
Subject:
DISCUSSION:
AGENDA REPORT
June 28, 2013
Finance - Accounting Committee
Steve Conklin, Acting General
Manager
Stephen Parker, Finance Dept:
Manager
Delia Lugo, Senior Accountant
Budget to Actual Results for May 2013
ITEM NO. 5.2
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 May 2013.
For the month of May 2013, the District water revenue is 93.7% of annual budget, which is 4.9%
higher when compared to the historical trend for this point in the year. Variable water costs are
trending close to budget.
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 $160,000 over budget primarily due
to spending that has already exceeded budget in replacement meters, valve repair parts, hydrant
repair parts and water service repair parts in the amounts of $80,000, $35,000, $25,000 and
$18,000, respectively.
Overall, Sewer Supplies and Services expenses are trending slightly over budget. This is primarily
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 overbudget by
$5,000 with one month remaining due to more work occurring than anticipated.
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:
Description: Type:
May 2013 Consolidated Stmt.xlsx May 2013 Consolidated Statement Backup Material
May 2013 Water Stmt.xlsx May 2013 Water Statement Backup Material
May 2013 Sewer Stmt.xlsx May 2013 Sewer Statement Backup Material
Yorba Linda Water District
Summary Financial Report
Water & Sewer Funds
For Eleven Months Ending May 31, 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 $14,483,211 $921,986 94.02%
1,822,665
1,735,799
86,866
95.23%
4,035,121
3,744,961
290,160
92.81%
3,755,191
3,408,424
346,767
90.77%
1,548,682
1,429,613
119,069
92.31%
198,433
198,244
189
99.90%
643,737
665,015
(21,278)
103.31%
27,409,026 25,665,267 1,743,759 93.64%
Interest
170,000
115,628
54,372
68.02%
Property Tax
1,244,320
1,312,741
(68,421)
105.50%
Other Non - Operating Revenue
494,437
688,057
(193,620)
139.16%
Total Non - Operating Revenue:
1,908,757
2,116,426
(207,669)
110.88%
Total Revenue
29,317,783
27,781,693
1,536,090
94.76%
Expenses (Operating)
Variable Water Costs (G.W., Import & Power)
12,953,024
11,701,730
1,251,294
90.34%
Salary Related Expenses
7,648,891
6,385,051
1,263,840
83.48%
Supplies & Services
3,891,602
3,596,476
295,126
92.42%
Total Operating Expenses
24,493,517
21,683,257
2,810,260
88.53%
Expenses (Non- Operating):
Interest on Long Term Debt
2,011,395
1,631,059
380,336
81.09%
Other Expense
124,210
37,776
86,434
30.41%
Total Non - Operating Expenses:
2,135,605
1,668,835
466,770
78.14%
Total Expenses
26,629,122
23,352,092
3,277,030
87.69%
Net Income (Loss) Before Capital Contributions
2,688,661
4,429,601
(1,740,940)
164.75%
Capital Contributions
-
350,819
350,819
0.00%
Net Income (Loss) Before Depreciation
2,688,661
4,780,420
(1,390,121)
177.80%
Depreciation & Amortization
6,602,339
6,274,591
327,748
95.04%
Total Net Income (Loss)
($3,913,678)
($1,494,171)
($2,419,507)
38.18%
Yorba Linda Water District
Water Fund
For Eleven Months Ending May 31, 2013
May 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
1,642,936
$14,483,211
$921,986
94.02%
Water Revenue (Commercial & Fire Det.)
1,822,665
186,800
1,735,799
86,866
95.23%
Water Revenue (Landscape /Irrigation)
4,035,121
416,458
3,744,961
290,160
92.81%
Water Revenue (Service Charge)
3,755,191
313,818
3,408,424
346,767
90.77%
Other Operating Revenue
585,929
52,663
607,654
(21,725)
103.71%
Total Operating Revenue:
25,604,103
2,612,675
23,980,049
1,624,054
93.66%
Revenue (Non- Operating):
-
47,988
0.00%
259,656
352
Interest
150,000
19,914
100,917
49,083
67.28%
Property Tax
1,244,320
42,195
1,312,741
(68,421)
105.50%
Other Non - Operating Revenue
490,262
(7,212)
687,893
(197,631)
140.31%
Total Non - Operating Revenue:
1,884,582
54,897
2,101,551
(216,969)
111.51%
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 2,667,572 26,081,600 1,407,085 94.88%
12,953,024
1,385,778
11,701,730
1,251,294
90.34%
6,741,403
406,348
5,654,913
1,086,490
87.70%
280,232
7,792
169,084
111,148
60.34%
455,041
36,774
388,914
66,127
85.47%
125,866
5,827
112,866
13,000
89.67%
57,609
147
52,500
5,109
91.13%
139,165
5,192
147,257
(8,092)
105.81%
47,988
-
-
47,988
0.00%
259,656
352
248,491
11,165
95.70%
493,506
124,379
655,556
(162,050)
132.84%
17,298
694
17,131
167
99.03%
307,065
31,025
268,398
38,667
87.41%
109,782
5,735
112,918
(3,137)
102.86%
37,702
2,625
34,957
2,745
92.72%
740,578
43,205
670,602
69,976
90.55%
41,353
1,012
18,872
22,481
45.64%
40,833
916
21,764
19,069
53.30%
36,270
12,097
17,652
18,618
48.67%
79,050
9,152
73,718
5,332
93.25%
282,400
38,585
273,723
8,677
96.93%
3,551,393
325,509
3,284,403
266,990
92.48%
23,245,820 2,117,635 20,641,046 2,604,774 88.79%
2,009,777 142,044 1,631,059 378,718 81.16%
118,210 1,785 37,776 80,434 31.96%
2,127,987 143,829 1,668,835 459,152 78.42%
25,373,807 2,261,464 22,309,881 3,063,926 87.92%
Net Income (Loss) Before Capital Contributions
2,114,878 406,108 3,771,719
(1,656,841)
178.34%
Capital Contributions
- - 193,770
193,770
0.00%
Net Income (Loss) Before Depreciation
2,114,878 406,108 3,965,489
(1,463,071)
187.50%
Depreciation &Amortization 5,332,175 478,735 5,083,653 248,522 95.34%
Total Net Income (Loss) ($3,217,297) ($72,627) ($1,118,164) ($2,099,133) 34.75%
Yorba Linda Water District
$1,548,682
Sewer Fund
$1,429,613
For Eleven Months Ending May 31, 2013
92.31%
Locke Ranch Assessments
May YTD
YTD YTD
198,244
Budget Actual Actual
Under(Over) % of
Other Operating Revenue
FY 2013 FY 2013 FY 2013
Budget Budget
Revenue (Operating)
Sewer Charge Revenue
$1,548,682
$133,235
$1,429,613
$119,069
92.31%
Locke Ranch Assessments
198,433
1,348
198,244
189
99.90%
Other Operating Revenue
57,808
13,094
57,361
447
99.23%
Total Operating Revenue:
1,804,923
147,677
1,685,218
119,705
93.37%
Revenue (Non- Operating):
Interest
20,000
1,170
14,711
5,289
73.56%
Other Non - Operating Revenue
4,175
(6,331)
164
4,011
3.93%
Total Non - Operating Revenue:
24,175
(5,161)
14,875
9,300
61.53%
Total Revenue
1,829,098
142,516
1,700,093
129,005
92.95%
Expenses (Operating):
Salary Related Expenses
907,488
52,696
730,138
177,350
81.11%
Supplies & Services:
Communications
23,018
587
11,580
11,438
50.31%
Contractual Services
34,280
2,847
30,017
4,263
87.56%
Data Processing
9,474
439
8,673
801
91.55%
Dues & Memberships
4,583
11
4,084
499
89.11%
Fees & Permits
12,155
2,134
14,974
(2,819)
123.19%
Board Election
3,612
-
-
3,612
0.00%
Insurance
19,544
26
18,702
842
95.69%
Materials
34,519
3,901
17,340
17,179
50.23%
District Activities, Emp Recognition
1,302
52
1,285
17
98.69%
Maintenance
71,405
9,726
99,663
(28,258)
139.57%
Non - Capital Equipment
18,269
220
15,256
3,013
83.51%
Office Expense
2,823
186
2,620
203
92.81%
Professional Services
36,882
2,232
26,978
9,904
73.15%
Training
4,747
146
5,306
(559)
111.78%
Travel & Conferences
3,418
69
1,353
2,065
39.59%
Uncollectible Accounts
2,730
1,494
2,255
475
82.60%
Utilities
5,950
743
6,303
(353)
105.93%
Vehicle Equipment
51,499
3,512
45,684
5,815
88.71%
Supplies & Services Sub -Total
340,209
28,325
312,073
28,136
91.73%
Total Operating Expenses
1,247,697
81,021
1,042,211
205,486
83.53%
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
1,255,315
81,021
1,042,211
213,104
83.02%
Net Income (Loss) Before Capital Contributions
573,783
61,495
657,882
(84,099)
114.66%
Capital Contributions
-
-
157,049
157,049
0.00%
Net Income (Loss) Before Depreciation
573,783
61,495
814,931
72,950
142.03%
Depreciation & Amortization
1,270,164
109,740
1,190,938
79,226
93.76%
Total Net Income (Loss)
($696,381)
($48,245)
($376,007)
($320,374)
53.99%