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Home My WebLink About2009-02-10 - Finance-Accounting Committee Meeting Agenda PacketYorba Linda Water District FINANCE - ACCOUNTING COMMITTEE MEETING Tuesday, February 10, 2009, 4:00 p.m. 1717 E. Miraloma Avenue, Placentia — Tel: (714) 701 -3020 COMMITTEE Director Michael J. Beverage, Chair Director John W. Summerfield AGENDA STAFF Ken Vecchiarelli, General Manager Pat Grady, Asst. General Manager Diane Cyganik, Finance Director Sandi Van Etten, Senior Accountant 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. ACTION ITEMS This portion of the agenda is for items where staff presentations and committee discussions are needed prior to formal committee action. None. 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. Investment Report ending December 31, 2008. Monthly Portfolio Report ending January 31, 2009. Report by Keith Khorey, Wells Capital Management. Monthly Financial Statements. a. Period Ending November 30, 2008. b. Period Ending December 31, 2008, 4. FY 2009/2011 Budget Activities Calendar ADJOURNMENT The next regularly scheduled meeting of the Finance - Accounting Committee will be held March 10, 2009 at 4:00 p.m. Pursuant to Government Code section 54957.5, non - exempt public records that relate to open session agenda items and are distributed to 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.rom /. 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. 2 AGENDA REPORT Meeting Date: February 10, 2009 To: Finance - Accounting Committee From: Ken Vecchiarelli, General Manager Staff Contact: Diane Cyganik, Finance Director Sandi Van Etten, Senior Accountant Reviewed by General Counsel: N/A Budgeted: Funding Source: CEQA Account No: Compliance: N/A Estimated Costs: Subject: Investment Report for December 2008 ITEM NO. N/A Total Budget: N/A N/A Job No: N/A Dept: Bus SUMMARY: Government Code Section 53607, et, seq., requires the person delegated to invest funds to make a quarterly report of the investments to the legislative body. DISCUSSION: I am submitting the December 2008 monthly investment report for your information. I will submit a formal report of the investments for Board action for the quarter ending December 31, 2008 upon approval of the Investment Report. Below is a chart summarizing the yields as well as terms and maturities for the month of December 2008: Below is a chart comparing operating fund interest for current and prior fiscal years: Monthly, Operating Fund Year -to -Date, Operating Fund $ 2,845 $ 518 $22,840 $ 4,378 Interest Budget, Operating Fund, December YTD $43,000 $32,250 Interest Budget, Operating Fund, annual $86,000 $64,500 Interest earned on investments is recorded in the Fund that owns the investment. Avg. Avg. Portfolio Portfolio # of Avg. Term Month Yield Without Yield With Days to of Portfolio In of 2008 Wells Capital Wells Capital Maturity Days December 0.76% 1.11% 75 25 Below is a chart comparing operating fund interest for current and prior fiscal years: Monthly, Operating Fund Year -to -Date, Operating Fund $ 2,845 $ 518 $22,840 $ 4,378 Interest Budget, Operating Fund, December YTD $43,000 $32,250 Interest Budget, Operating Fund, annual $86,000 $64,500 Interest earned on investments is recorded in the Fund that owns the investment. Investment Summary Comparison The distribution of investments in the portfolio both in dollars and as a percentage of the total portfolio by funds is as follows: Fund Description Balance 12/31108 Annexation $9,448,511 18.67% Water Operating (3,049,868) - 6.03% Water R &R 2,041,990 4.03% Water - Capital Projects 149,500 0.30% Restrict -Debt Service 1,145,620 2.26% COP Bond 2003 0 0.00% COP Bond 2008 24,952,582 49.30% Sewer Operating 1,469,168 2.90% Sewer R &R 261,551 0.52% Sewer Capital Projects 188,105 0.37% ID1 4,367,595 8.63% ID2 9,636.813 19.04% $50.611.567 100.00% PRIOR RELEVANT BOARD ACTION(S): These reports are presented to the Finance - Accounting Committee on a regular basis. Quarterly Investment Reports are presented to the Board of Directors. The Investment Report for the quarter ending September 30, 2008 was received and filed by the Board of Directors on November 26, 2008. STAFF RECOMMENDATION: That the Finance - Accounting Committee receive and file the report. Market % Value Cost of Total Cash & Checking Accounts: $ 1,140,562 $ 1,140,562 Money Market Accounts: $ 147,811 $ 147,811 Yorba Linda Water District Investment Portfolio Report December 31, 2008 Institution Wells Fargo Bank Imprest Cash Percent Investment Maturity Yield Date Date N/A Wells Fargo Money Market 0.35% N/A Wells Fargo MM/Annexation 0.35% $ 1,320,016 $ 1,320,016 2.61% Sub -total 0.05% California Asset Mgmt. Program: $ 6,661,901 $ 6,661,901 13.18% California Asset Mgmt. Program 1.74% N/A Money Market Account: $ 24,952,582 $ 24,952,582 US Bank 2008 Revenue Bond 0.53% 0 0 US Bank 2003 Revenue Bond 0.00% N/A $ 24,952,582 $ 24,952,582 49.38% 0.53% $ 32,934,499 $ 32,934,499 65.18% Sub Total Investments 0.76% Individual Management Account. $ 17,666,434 $ 17,595,745 34.82% Wells Capital Management 1.76% N/A $50,600,933 $ 50,530,244 100% Total Investments 1.11% 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. �utr1L V" 946e_ , Sandi Van Etten, Senior Accountant 12/31/2008 ITEM NO. oZ Account Overview Yorba Linda Water District Account #18611500 Funding Date: 10/25/2005 Portfolio Statistics as of: 1/31/2009 Account Characteristics: Portfolio Yield to Maturity 1.60% Total Unrealized Gains /(Losses) - Current: 50,099 Total Net Realized Gains /(Losses) - Since Inception: 496 Total Long -Term Investments: - Total Short Duration Investments/Money Market Secs: 16,910,523 Total Market Value: 16,910,523 Total Number of Issues in the Portfolio: 15 MARKET DATA Overnight Fed Funds Rate: 0.00% 6 -Month T -Bill Yield: 0.35% 12 -Month T -Note Yield: 0.48% WELLS CAPITAL MANAGEMENT Portfolio Summary Report For the period : 01/01/09 to 01/31/09 Verbs Linda Water District 18611500 Market Value: 16,910,523.01 Market Value % of Account Unrealized G/L: 50,099.12 Agency Discount Note 8,271,890.00 48.92% 0-0.25% 0 - 0.25% Commercial Paper 449,752.00 2.66% Yield To Maturity: 1.60% Discount 944,911.00 5.59% Portfolio Duration: 0.29 Years Fixed Rate 308,903.70 1.83% Aa/AA Floating Rate 499,530.50 2.95% Avg. Days to Maturity: 114 Money Market Fund 6,935,805.52 41.01% Avg. Portfolio Credit Quality: Aaa Pending_Cash - 500,269.71 - 2.96% Not Rated Total 16,910,523.01 100.00% Yields 6 Month Treasury Bill: 0.34% 0.26% 2 Year Treasury Note: 0.95% 0.76% 5 Year Treasury Note: 1.88% 1.55% Fed Funds Target: 0-0.25% 0 - 0.25% att n��liev* 10 1 e-- 0.40 P1/MIG1/VMIG1 /A -1 8.2% 0.35 Aaa/AAA 51.9% Aa/AA 0.0% 0.30 A/A 1.8% Baa/BBB 0.0% e.25 Other 0.0% 020 Cash /Ovemights 38.1% Not Rated 0.0% 015 100.0% 0A0 Moody's Ratings - Primary 0.05 S&P Ratings - Secondary Fitch Ratings - Tertiary owl - - o/n 2m90 91 b180 191 w ym 1102ye >2y. The above information Is an estimate of certain Investment calculations and does not represent your audited statement of record. YORBA LINDA WATER DISTRICT Statement of Cash Flows /Earnings for January 1009 I - Beginning Period Balances As of 12/31/2008 Total Original Cost 17,546,472 + Net Amort/ACCr to Date 49,273 = Adjusted Book Value: 17,595,745 • Accrued Interest Receivable 10,635 • Unrealized Gain/(Loss) 70,689 = Total Market Value Plus Accrued Interest 17,677,069 II: Period Income Earned + Ending Accrual - Begininning Accrual + Interest Received - Interest Paid at Purchase + Interest Received at Sale = Interest Earned in Period + (Amort) /Accr This Period = Monthly Portfolio Income + Contributions - Withdrawals + Realized Gain/(Loss) - Fees Paid This Period - Prior Period Unrealized Gain/Loss • End Of Period Unrealized Gain/Loss • Net Receipts/Deliveries in Kind • Adjustments = Net Change to the Portfolio =Total Market Value Plus Accrued Interest III: End of Period Balances Total Original Cost + Net Amort/Accr to Date = Adjusted Book Value • Accrued Interest Receivable • Unrealized Gain/(Loss) = Total Market Value Plus Accrued Interest Reconciliation Difference: Wells Capital Management 13,228 (10,635) 10,635 (5,903) 7,325 16,728 $ 24,052 (753,977) (2,803) 70,689 50,099 0.00 0.00 (760,643) 16,923,751 As of 1/31/2009 16,796,923 63,500 16,860,424 13,228 50,099 16,923,751 Holdings Report Securities Held as of 1/31/09 on a Trade Date Basis Identifier Creole Ratitgs Par Value Security Desorption Coupon Final YTM r Accrued Percentage of PudMase Maturity M.Ws S &P Fed, 1 0.00 100.000 I. Cash 8 Cash Equivalents (Original maturity of 90 days or less) 6.942,537 41.01% Cash 07/13109 3 0.01 U.S. DOLLARS (500,270) PENDING CASH 6,892,019 40.72% 0.84% (0) 173 0.47 Money Mkt Securities 496,248 496,248 2.93% Agency Discount Note 05121109 110 0.30 Commensal Paper 448,664 448,664 2.65% 036637050 P -1 A -1* NR 450,000 ANTALIS US FNDG CORP 0.000 03105109 Money Market Fund 991,200 991,200 5.86% VP7000038 NR NR NR 6,935.806 WF ADV MONEY MKT TR 9645 0.731 0.27 Cash 8 Cash Equivalents Total 6,885,536 699,370 4.14% II. Marketable Securities (Original maturity greater than 90 days) 109 0.30 ILA: Short Term Secuddes (Retnalrrag maturity of less dem 365 says) 999,000 999,000 Gov? Guaranteed- CP 1.75% 05/29109 118 G6051HUPO P -1 A -1 NR 500,000 BANK OF AMER CORP TLGP 0.000 07/23109 36161CSM5 P -1 A -1+ NR 450,000 GE CAPITAL TLGP 0.000 05/21109 Corporate Securities 99.965 199,929 199,929 Corporate Obligation 3.08% 171 Floa6Yg Rate 7,135,318 7,135,319 Govt Securities 2.61% Gov Agncy Obligation Money Mkt Securities Agency Discount Note 313313MR6 AGY AGY AGY 1,000,000 FFCS 0.000 10/07/09 313385EP7 AGY AGY AGY 1,000,000 FHLB 0.000 04120109 313385JB3 AGY AGY AGY 800,000 FHLB 0.000 07113109 313385KS4 AGY AGY AGY 1,000,000 FHLB 0.000 08/21109 313395RK4 AGY AGY AGY 800,000 FHLB 0.000 01105/10 313385SB3 AGY AGY AGY 1,000,000 FHLB 0.000 01121/10 313589FHI AGY AGY AGY 700,000 FNMA 0.000 05/08109 313589FVO AGY AGY AGY 1,000,000 FNMA 0.000 05120/09 313589GE7 AGY AGY AGY 1,000,000 FNMA 0.000 05/29/09 Commercial Paper 6323AGNPS P -1 A -1 NR 200,000 NATE%IS BANDUES POP USF CPI 0.000 01/23/09 Short Term Securities Taal: 7,160,000 1113: Long -Term Securities (Remaining maturity greater than 365 days) Corporate Securities Fixed Rate Effective Days Duration Market Prim Market Mstunty to Eff Value Maturity Yor is Linda Water District 33 18611500 Market Value Hddngs as YTM r Accrued Percentage of PudMase Interest Acm,mt or Reset (500,270) (500,270) -2.96% 0 0.00 0 0 0.00% 0.00% 03105/09 33 0.09 99.945 449,752 449,752 2.66% 2.55% 02/01/09 1 0.00 100.000 6.936.806 6.942,537 41.01% 0.73% 07/13109 3 0.01 99.780 6,885,288 6,892,019 40.72% 0.84% 07123109 173 0.47 99.250 496,248 496,248 2.93% 0.61% 05121109 110 0.30 99.703 448,664 448,664 2.65% 1.94% 10/07109 249 0.68 99.560 995,600 995,600 5.89% 2.00% 04/20109 79 0.22 99.950 999,500 999,500 5.91% 3.04% 07/13109 163 0.45 99.780 798,240 798,240 4.72% 2.99% 08121109 202 0.55 99.680 996,800 996,800 5.89% 3.02% 01/05/10 339 0.93 99.160 793,280 793,280 4.69% 0.82% 01/21110 355 0.97 99.120 991,200 991,200 5.86% 0.87% 05/08/09 97 0.27 99.910 699,370 699,370 4.14% 2.98% 05/20/09 109 0.30 99.900 999,000 999,000 5.91% 1.75% 05/29109 118 0.33 99.890 998,900 998,900 5.91% 2.91% 01123109 23 0.06 99.965 199,929 199,929 1.13% 3.08% 171 0.47 7,135,318 7,135,319 40.39% 2.61% The above information is an estimate of certain Investment calculations and does not represent your audtied statement of record. Page: 1 of 2 Holdings Report Yorba Linda Water District Securities Held as of 1/31/09 on a Trade Date Basis 18611500 Identifier Cnu it Ratings Par Value Secunty Desoiptien Coupon Final Eeective Days Duration Market Price Market Market Value Holdings as YTm et Maluray MatuMy to E% Value Accrued Percentage of Pacfase Malunty Inheen Amrnmt or Reset Moody'$ S&P Fool 285659AEO A2 A A4 300,000 ELECTRONIC DATA SYSTEMS 7.125 10/15/09 10/15/09 257 0.68 102.968 308,904 315,197 1.83% 2.12% Floating Rate 89233P306 Asa AAA NR 500,000 TOYOTA MOTOR CREDIT CORP 2.434 01129110 01!29110 363 0.25 99.906 499,531 499,733 195% 2.43% Marketable Securities Total 10,050,000 188 0.50 10,055,235 10,031,732 59.28% 2.17% Portfolio Total: 16,935,636 114 0.29 16,910,523 16,923,751 100.00% 1.60% The above Information Is an estimate of certain Invesbnent calve adons and does net represent your sudaed statement of record. Page: 2 of 2 AGENDA REPORT Committee Meeting Date: February 10, 2009 To: Finance - Accounting Committee From: Ken Vecchiarelli, General Manager Staff Contact: Diane Cyganik, Finance Director Sandi Van Etten, Senior Accountant Reviewed by General Counsel: N/A Budgeted: Funding Source: CEQA Account No: Compliance: N/A Estimated Costs: ITEM NO. 3� N/A Total Budget: All Funds Job No: Dept: Bus Subject: Financial Statements for the Fifth Month of Fiscal Year 2008 -09 Ending November 30, 2008 SUMMARY: A presentation will be made of the Financial Statements for month ending November 30, 2008. DISCUSSION: The Water Fund had an operating loss of $1,653,470 through November 30, 2008. The key factors are outlined below: Both the water operating revenues and variable expenses are higher than budgeted. The variable water costs are 12% higher than budget because of rate increases from MWDOC and OCWD, plus higher energy costs. YTD revenue through November is lower than the same five months last fiscal year. Personnel costs are lower than anticipated due to budgeted positions that have not been filled. The last October payroll and both November payrolls are missing from the above figures. This is due to outsourcing payroll to ADP. All payrolls have been posted as of December. If the three payrolls had been posted in November, the Budget Remaining for personnel costs would be 69% instead of 78 %. The operating loss would increase to $2,193,036 which would be an average of about $440,000 per month. Supplies and Services are close to budget through November. Yorba Linda Water District Monthly Financial Statement Analysis — Water Operating Fund For the Month Ending November 30, 2008 November Y -T -D ($) Y -T -D ( %) Budget 2008 Budget Budget Description FY 2008/09 Actual Y -T -D Remaining Remaining Total Water Revenue $ 17,498,010 $ 8,838,908 $ (8,659,102) -49% Total Variable Water Costs $ 11,156,500 $ 6,027,876 $ 5,128,624 46% Personnel Costs $ 7,389,200 $ 1,657,148 $ 5,732,052 78% Supplies & Services $ 3,773,100 $ 1,468,248 $ 2,304,852 61% Both the water operating revenues and variable expenses are higher than budgeted. The variable water costs are 12% higher than budget because of rate increases from MWDOC and OCWD, plus higher energy costs. YTD revenue through November is lower than the same five months last fiscal year. Personnel costs are lower than anticipated due to budgeted positions that have not been filled. The last October payroll and both November payrolls are missing from the above figures. This is due to outsourcing payroll to ADP. All payrolls have been posted as of December. If the three payrolls had been posted in November, the Budget Remaining for personnel costs would be 69% instead of 78 %. The operating loss would increase to $2,193,036 which would be an average of about $440,000 per month. Supplies and Services are close to budget through November. The Sewer Fund had an operating loss of $43,765 for month ending November 30, 2008. The key factors are outlined below: Yorba Linda Water District Monthly Financial Statement Analysis — Sewer Operating Fund For the Month Ending November 30, 2008 November Y -T -D ($) Y -T -D ( %) Budget 2008 Budget Budget Description FY 2008/09 Actual Y -T -D Remaining Remaining Sewer Maintenance Charges $ 1,249,850 $ 505,954 $ (743,896) -60% Personnel Costs $ 730,800 $ 186,286 $ 544,514 75% Supplies & Services $ 339,600 $ 140,814 $ 198,786 59% The Sewer Maintenance Charges are on target compared to what was budgeted. Personnel costs are slightly lower than anticipated due to existing vacant positions in the Water Fund. Personnel costs are impacted by the Water Fund positions due to allocating 9% of water overhead expenses to the Sewer Fund. As noted in the water fund analysis, sewer also is missing three payrolls. If these were included in the above figures, the Budget Remaining for personnel costs would be reduced to 70 %. The operating loss would increase to $78,345. The Supplies & Services are on target. PRIOR RELEVANT BOARD ACTION(S): The Board of Directors reviews each quarter's financial statements. The financial statements for the quarter ended September 30, 2008 were received and filed on December 23, 2008. STAFF RECOMMENDATION: That the Committee recommend the Board of Directors receive and file the financial statements for the fifth month of fiscal year 2008 -09 ending November 30, 2008. FOND 1 Schedule of Combined Revenue 11 -30 -08 ANNUAL CORE YR VARIANCE VAR BUDGET Y -T -D Y -T -D $ OPERATING REVENUE WATER SALES Residential Water 12,983,902.00 7,445,765.88 5,538,136.12 43 Combined Demand 7,158.00 3,702.50 3,455.50 48 Commercial 1,191,790.00 661,209.63 530,580.37 45 Fire Detector 150,000.00 49,973.13 100,026.87 67 Landscape Water 2,700,850.00 1,904,694.51 796,155.49 29 Irrigation 45,600.00 39,565.96 6,034.04 13 Other Water Sales 418,710.00 211,888.54 206,821.46 49 To:-Restricted for Debt Serv" 0.00 <1,477,891.62> 1,477,891.62 -100 Total 17,498,010.00 8,838,908.53 8,659,101.47 49 OTHER Damages /Relocation 3,290.00 6,441.30 <3,151.30> -96 Miscellaneous Billing 0.00 0.00 0.00 -100 Other 10,200.00 13,882.68 <3,682.68> -36 Total 13,490.00 20,323.98 <6,833.98> -51 SEWER MAINTENANCE CHARGES Sewer Rate Charge 0.00 0.00 0.00 -100 City Maintenance Charge 0.00 0.00 0.00 -100 Maintenance Assessment 0.00 0.00 0.00 -100 F.O.G. fees 0.00 0.00 0.00 -100 Collection Fees - Placentia 0.00 0.00 0.00 -100 Total 0.00 0.00 0.00 -100 CUSTOMER SERVICE CHARGES Customer Service Charges Back Flow Charges Total Rents & Royalties Total Operating Revenue 75,000.00 68,739.00 6,261.00 8 49,600.00 24,060.20 25,539.80 51 124,600.00 92,799.20 31,800.80 26 99,100.00 4,556.16 94,543.84 95 17,735,200.00 8,956,587.87 8,778,612.13 49 FUND 1 Schedule of Combined Revenue 11 -30 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D % NON - OPERATING REVENUE Taxes & Assessments 1,200,150.00 159,471.62 1,040,678.38 87 Interest 47,500.00 228,413.47 <180,913.47> -381 Other Revenue 449,200.00 322,435.16 126,764.84 28 Rev Restricted for Debt Sery 0.00 1,477,891.62 <1,477,891.62> -100 Total 1,696,850.00 2,188,211.87 <491,361.87> -29 TOTAL REVENUE 19,432,050.00 11,144,799.74 8,287,250.26 43 RUN DATE /TIME: 16:53:48 04 Feb 2009 REPORT ID: COMEXP07;COMREV07;REVEXP07 FUND 1 Schedule of Combined Expenses 11 -30 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D $ PERSONNEL SERVICES Salaries Unit 3,330,350.00 746,339.46 2,584,010.54 78 Salaries SC 1,051,509.00 185,701.88 865,807.12 82 Salaries Management 713,116.00 176,187.72 536,928.28 75 Salaries Other 0.00 0.00 0.00 -100 Fees Directors 56,183.00 9,878.77 46,304.23 82 Fringe Benefits Unit 1,512,348.00 348,655.63 1,163,692.37 77 Fringe Benefits SC 346,877.00 73,450.72 273,426.28 79 Fringe Benefits Management 209,170.00 55,131.88 154,038.12 74 Fringe Benefits Directors 27,004.00 8,864.88 18,139.12 67 Fringe Benefits Other 142,643.00 52,936.82 89,706.18 63 Total Personnel Services 7,389,200.00 1,657,147.76 5,732,052.24 78 Depreciation 0.00 1,456,785.72 <1,456,785.72> -100 Total Depreciation 0.00 1,456,785.72 <1,456,785.72> -100 SUPPLIES & SERVICES AMP Lease 0.00 0.00 0.00 -100 Communications 251,690.00 121,006.24 130,683.76 52 Contractual Services 807,159.00 249,719.15 557,439.85 69 Data Services 282,417.00 26,600.73 255,816.27 91 Dues & Memberships 31,585.00 2,005.61 29,579.39 94 Election Expense 39,999.00 0.00 39,999.00 100 Fees & Permits 44,617.00 14,892.30 29,724.70 67 Insurance 303,940.00 222,070.47 81,869.53 27 Legal /Settlement Agreements 0.00 0.00 0.00 -100 Maintenance 618,281.00 399,117.19 219,163.81 35 Non Capitol Equipment 209,945.00 50,425.23 159,519.77 76 Office Expense 60,672.00 16,078.13 44,593.87 73 Rental Lease 0.00 0.00 0.00 -100 Professional Services 622,021.00 154,039.58 467,981.42 75 Training 87,643.00 8,650.50 78,992.50 90 Travel & Conferences 59,343.00 13,085.61 46,257.39 78 Uncollectible Accounts 19,499.00 0.00 19,499.00 100 Collection Agency Fee 1,000.00 0.00 1,000.00 100 Utilities 63,920.00 12,586.01 51,333.99 80 Vehicle 269,369.00 177,971.38 91,397.62 34 Job Closing Expenses 0.00 0.00 0.00 -100 Unbudgeted Expenses 0.00 0.00 0.00 -100 FOND 1 Schedule of Combined Expenses 11 -30 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D % Total Services & supplies 3,773,100.00 1,468,249.13 2,304,851.87 61 VARIABLE WATER COSTS Fuel & Power Pumping Ground Water Replenishment Purchased Water Readiness /Connection Charge Total Variable Water Costs TOTAL OPERATING EXPENSE NON - OPERATING EXPENSE Other Expense 955 Security Vulnerability Interest Exp on Long -term Debt 1,350,000.00 827,976.94 522,023.06 39 3,706,500.00 1,808,561.72 1,897,938.28 51 6,100,000.00 3,240,557.65 2,859,442.35 47 0.00 150,779.45 <150,779.45> -100 11,156,500.00 6,027,875.76 5,128,624.24 46 22,318,800.00 10,610,057.37 11,708,742.63 52 0.00 62,632.15 <62,632.15> -100 0.00 0.00 0.00 -100 0.00 901,510.04 <901,510.04> -100 Total Non - operating Expense 0.00 964,142.19 <964,142.19> -100 Total Expenses 22,318,800.00 11,574,199.56 10,744,600.44 48 RUN DATE /TIME: 16:53:48 04 Feb 2009 REPORT ID: COMEXP07;COMREV07;REVEXP07 Operating Revenues: Metered water sales Sewer maintenance charges Construction water sales Irrigation sales Other Customer service fees Rents and royalties Outside District water sales Unmetered water sales To: "Restricted for Debt Serv" Total Operating Revenues Operating Expenses: Variable water costs personnel services Depreciation Supplies and services Total Operating Expenses Operating (Loss) FUND 1 Schedule of Revenue & Expense 11 -30 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D $ 17,040,410.00 10,079,080.65 6,961,329.35 41 0.00 0.00 0.00 -100 355,000.00 177,039.16 177,960.84 50 45,600.00 39,565.96 6,034.04 13 13,490.00 20,323.98 <6,833.98> -51 124,600.00 92,799.20 31,800.80 26 99,100.00 4,556.16 94,543.84 95 50,000.00 17,039.58 32,960.42 66 7,000.00 4,074.80 2,925.20 42 0.00 <1,477,891.62> 1,477,891.62 -100 17,735,200.00 8,956,587.87 8,778,612.13 49 11,156,500.00 6,027,875.76 5,128,624.24 46 7,389,200.00 1,657,147.76 5,732,052.24 78 0.00 1,456,785.72 <1,456,785.72> -100 3,773,100.00 1,468,248.13 2,304,851.87 61 22,318,800.00 10,610,057.37 11,708,742.63 52 <4,583,600.00> <1,653,469.50> <2,930,130.50> 64 FUND 1 Schedule of Revenue & Expense 11 -30 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D % Nonoperating Revenues: Property taxes - debt service 0.00 0.00 0.00 -100 Property taxes - operations 1,200,150.00 159,471.62 1,040,678.38 87 Interest income 47,500.00 228,413.47 <180,913.47> -381 Other revenue 449,200.00 322,435.16 126,764.84 28 Rev Restricted for Debt Sery 0.00 1,477,891.62 <1,477,891.62> -100 Total Nonoperating Revenues 1,696,850.00 2,188,211.87 <491,361.87> -29 Nonoperating expenses: Interest expense 0.00 901,510.04 <901,510.04> -100 Security Vulnerability Exp 0.00 0.00 0.00 -100 Other expense 0.00 62,632.15 <62,632.15> -100 Total Nonoperating Expenses 0.00 964,142.19 <964,142.19> -100 Income (Loss) before Capital Contributions <2,886,750.00> <429,399.82> <2,457,350.18> 85 Capital Contributions 667,100.00 320,403.77 346,696.23 52 Change in Net Assets: <2,219,650.00> <108,996.05> <2,110,653.95> 95 RUN DATE /TIME: 16:53:48 04 Feb 2009 REPORT ID: COMEXP07;COMREV07;REVEXP07 OPERATING REVENUE WATER SALES Residential Water Combined Demand Commercial Fire Detector Landscape Water Irrigation Other Water Sales To:-Restricted for Debt Serv" Total OTHER Damages /Relocation Miscellaneous Billing Other Total SEWER MAINTENANCE CHARGES Sewer Rate Charge City Maintenance Charge Maintenance Assessment F.O.G. fees Collection Fees - Placentia Total CUSTOMER SERVICE CHARGES Customer Service Charges Back Flow Charges Total Rents & Royalties Total Operating Revenue FOND 2 Schedule of Combined Revenue 11 -30 -08 ANNUAL CDRR YR VARIANCE VAR BUDGET Y -T -D Y -T -D $ 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 55.00 <55.00> -100 0.00 835.00 <835.00> -100 0.00 890.00 <890.00> -100 1,141,650.00 491,978.58 649,671.42 57 0.00 0.00 0.00 -100 104,900.00 12,725.70 92,174.30 88 0.00 0.00 0.00 -100 3,300.00 1,250.00 2,050.00 62 1,249,850.00 505,954.28 743,895.72 60 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 1,249,850.00 506,844.28 743,005.72 59 NON - OPERATING REVENUE Taxes & Assessments Interest Other Revenue Rev Restricted for Debt Sery Total FUND 2 Schedule of Combined Revenue 11 -30 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D % 66,000.00 0.00 66,000.00 100 17,000.00 5,449.29 11,550.71 68 5,000.00 8,262.89 <3,262.89> -65 0.00 0.00 0.00 -100 88,000.00 13,712.18 74,287.82 84 TOTAL REVENUE 1,337,850.00 520,556.46 817,293.54 61 RUN DATE /TIME: 16:53:48 04 Feb 2009 REPORT ID: COMERP07;COMREV07;REVE%P07 FUND 2 Schedule of Combined Expenses 11 -30 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D % PERSONNEL SERVICES Salaries Unit 329,376.00 87,152.30 242,223.70 74 Salaries SC 103,997.00 21,639.91 82,357.09 79 Salaries Management 70,525.00 20,203.47 50,321.53 71 Salaries Other 0.00 0.00 0.00 -100 Fees Directors 5,557.00 924.58 4,632.42 83 Fringe Benefits Unit 149,573.00 39,137.24 110,435.76 74 Fringe Benefits SC 34,311.00 8,416.85 25,894.15 75 Fringe Benefits Management 20,688.00 5,158.52 15,529.48 75 Fringe Benefits Directors 2,670.00 726.90 1,943.10 73 Fringe Benefits Other 14,103.00 2,926.24 11,176.76 79 Total Personnel Services 730,800.00 186,286.01 544,513.99 75 Depreciation 0.00 223,509.25 <223,509.25> -100 Total Depreciation 0.00 223,509.25 <223,509.25> -100 SUPPLIES & SERVICES AMP Lease 0.00 0.00 0.00 -100 Communications 22,545.00 10,096.78 12,448.22 55 Contractual Services 72,676.00 47,864.66 24,811.34 34 Data Services 25,427.00 701.21 24,725.79 97 Dues & Memberships 2,845.00 143.06 2,701.94 95 Election Expense 3,601.00 0.00 3,601.00 100 Fees & Permits 4,019.00 1,642.01 2,376.99 59 Insurance 27,365.00 21,963.01 5,401.99 20 Legal /Settlement Agreements 0.00 0.00 0.00 -100 Maintenance 55,669.00 22,026.78 33,642.22 60 Non Capitol Equipment 18,900.00 2,913.44 15,986.56 85 Office Expense 5,463.00 1,590.15 3,872.85 71 Rental Lease 0.00 0.00 0.00 -100 Professional Services 56,004.00 15,401.61 40,602.39 72 Training 7,892.00 1,353.96 6,538.04 83 Travel & Conferences 5,342.00 1,017.06 4,324.94 81 Uncollectible Accounts 1,756.00 0.00 1,756.00 100 Collection Agency Fee 90.00 0.00 90.00 100 Utilities 5,755.00 96.96 5,658.04 98 Vehicle 24,251.00 14,003.56 10,247.44 42 Job Closing Expenses 0.00 0.00 0.00 -100 Unbudgeted Expenses 0.00 0.00 0.00 -100 VAR -100 -100 -100 -100 -100 �V Other Expense FUND 2 <717.95> -100 Schedule of Combined Expenses 0.00 0.00 11 -30 -08 Interest Exp on Long -term Debt 0.00 ANNUAL CURR YR VARIANCE Total Non- operating Expense BUDGET Y -T -D Y -T -D -100 Total Expenses 1,070,400.00 Total Services & supplies 339,600.00 140,814.25 198,785.75 VARIABLE WATER COSTS Fuel & Power Pumping 0.00 0.00 0.00 Ground Water Replenishment 0.00 0.00 0.00 Purchased Water 0.00 0.00 0.00 Readiness /Connection Charge 0.00 0.00 0.00 Total Variable Water Costs 0.00 0.00 0.00 TOTAL OPERATING EXPENSE 1,070,400.00 550,609.51 519,790.49 NON - OPERATING EXPENSE VAR -100 -100 -100 -100 -100 �V Other Expense 0.00 717.95 <717.95> -100 955 Security Vulnerability 0.00 0.00 0.00 -100 Interest Exp on Long -term Debt 0.00 0.00 0.00 -100 Total Non- operating Expense 0.00 717.95 <717.95> -100 Total Expenses 1,070,400.00 551,327.46 519,072.54 48 RUN DATE /TIME: 16:53:48 04 Feb 2009 REPORT ID: COMEXP07;COMREV07;REVEXP07 Operating Revenues: Metered water sales Sewer maintenance charges Construction water sales Irrigation sales Other Customer service fees Rents and royalties Outside District water sales Unmetered water sales To:-Restricted for Debt Serv" Total Operating Revenues Operating Expenses: Variable water costs Personnel services Depreciation Supplies and services Total Operating Expenses Operating (Loss) FUND 2 Schedule of Revenue & Expense 11 -30 -08 ANNUAL CORE YR VARIANCE VAR BUDGET Y -T -D Y -T -D $ 0.00 0.00 0.00 -100 1,246,550.00 504,704.28 741,845.72 60 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 3,300.00 2,140.00 1,160.00 35 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 1,249,850.00 506,844.28 743,005.72 59 0.00 0.00 0.00 -100 730,800.00 186,286.01 544,513.99 75 0.00 223,509.25 <223,509.25> -100 339,600.00 140,814.25 198,785.75 59 1,070,400.00 550,609.51 519,790.49 49 179,450.00 <43,765.23> 223,215.23 123 FUND 2 Schedule of Revenue & Expense 11 -30 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D % Nonoperating Revenues: Property taxes - debt service 0.00 0.00 0.00 -100 Property taxes - operations 66,000.00 0.00 66,000.00 100 Interest income 17,000.00 5,449.29 11,550.71 68 Other revenue 5,000.00 8,262.89 <3,262.89> -65 Rev Restricted for Debt Sery 0.00 0.00 0.00 -100 Total Nonoperating Revenues 88,000.00 13,712.18 74,287.82 84 Nonoperating expenses: Interest expense 0.00 0.00 0.00 -100 Security Vulnerability Rxp 0.00 0.00 0.00 -100 Other expense 0.00 717.95 <717.95> -100 Total Nonoperating Expenses 0.00 717.95 <717.95> -100 Income (Loss) before Capital Contributions 267,450.00 <30,771.00> 298,221.00 111 Capital Contributions 251,000.00 271,312.06 <20,312.06> -8 Change in Net Assets: 518,450.00 240,541.06 277,908.94 54 RUN DATE /TIME: 16:53:48 04 Feb 2009 REPORT ID: COMEXP07;COMREV07;REVERP07 AGENDA REPORT Committee Meeting Date: February 10, 2009 To: Finance - Accounting Committee From: Ken Vecchiarelli, General Manager Staff Contact: Diane Cyganik, Finance Director Sandi Van Etten, Senior Accountant Reviewed by General Counsel: N/A Budgeted: Funding Source: CEQA Account No: Compliance: N/A Estimated Costs: ITEM NO. 96 N/A Total Budget: All Funds Job No: Dept: Bus Subject: Financial Statements for the Sixth Month of Fiscal Year 2008 -09 Ending December 31, 2008. SUMMARY: A presentation will be made of the Financial Statements for month ending December 31, 2008. DISCUSSION: The Water Fund had an operating loss of $1,853,942 through December 31, 2008. The key factors are outlined below: Revenues are higher than budgeted. Keep in mind that December billing revenue covers usage for October and November - warm, dry months. Variable water costs are still higher than budget. However, due in part to the RA adjustment credit of $493,000, the percent higher than budget was reduced to 5% this month, down from 12% last month. Also contributing to the reduction is the fact that purchased and pumped water were almost 1000 acre feet less in December — a wet month. Personnel costs are lower than anticipated due to budgeted positions that have not been filled. Also, though all labor costs are included in budge numbers, actual costs do not include labor for projects. Instead, time spent on projects is posted to Construction in Progress (CIP), an asset, and not to salary expense. All ADP payrolls have now been posted through December. Supplies and Services are under budget at this point in time. Yorba Linda Water District Monthly Financial Statement Analysis — Water Operating Fund For the Month Ending December 31, 2008 December Y -T -D ($) Y -T -D ( %) Budget 2008 Budget Budget Description FY 2008/09 Actual Y -T -D Remaining Remaining Total Water Revenue $ 17,498,010 $ 10,355,075 $ (7,142,935) 41% Total Variable Water Costs $ 11,156,500 $ 6,169,603 $ 4,986,897 45% Personnel Costs $ 7,389,200 $ 2,722,997 $ 4,666,203 63% Supplies & Services $ 3,773,100 $ 1,702,897 $ 2,070,203 55% Revenues are higher than budgeted. Keep in mind that December billing revenue covers usage for October and November - warm, dry months. Variable water costs are still higher than budget. However, due in part to the RA adjustment credit of $493,000, the percent higher than budget was reduced to 5% this month, down from 12% last month. Also contributing to the reduction is the fact that purchased and pumped water were almost 1000 acre feet less in December — a wet month. Personnel costs are lower than anticipated due to budgeted positions that have not been filled. Also, though all labor costs are included in budge numbers, actual costs do not include labor for projects. Instead, time spent on projects is posted to Construction in Progress (CIP), an asset, and not to salary expense. All ADP payrolls have now been posted through December. Supplies and Services are under budget at this point in time. The Sewer Fund had an operating loss of $25,022 for month ending December 31, 2008. The key factors are outlined below: Yorba Linda Water District Monthly Financial Statement Analysis — Sewer Operating Fund For the Month Ending December 31, 2008 The Sewer Maintenance Charges are slightly over budget. The Locke Ranch maintenance assessments of $43,507 received in December via property tax payments explains the increase. December and April are the months with the largest tax payments. Personnel costs are still under budget due to existing vacant positions in the Water Fund. As stated in the water analysis, there are salary costs posted to CIP which are not recorded as actual personnel expense, thereby increasing the under - budget amount. Additionally, though all ADP payrolls have been posted through December, the salary allocation journals have not. This journal does not change any net figures, but it will impact the recording of personnel costs by fund. Sewer costs will increase by about $50,000 to $70,000 and water costs will decrease. After accounting for this journal, sewer's personnel costs would be around 12% of water's personnel costs, a combination of direct charges to sewer labor and reclassification of water labor costs to sewer. Supplies & Services are slightly under budget, being 9% of water expenses as expected. PRIOR RELEVANT BOARD ACTION(S): The Board of Directors reviews each quarter's financial statements. The financial statements for the quarter ended September 30, 2008 were received and filed on December 23, 2008. STAFF RECOMMENDATION: That the Committee recommend the Board of Directors receive and file the financial statements for the sixth month of fiscal year 2008 -09 ending December 31, 2008. December Y -T -D ($) Y -T -D ( %) Budget 2008 Budget Budget Description FY 2008/09 Actual Y -T -D Remaining Remaining Sewer Maintenance Charges $ 1,249,850 $ 646,124 $ (603,726) 48% Personnel Costs $ 730,800 $ 249,244 $ 481,556 66% Supplies & Services $ 339,600 $ 154,613 $ 184,987 54% The Sewer Maintenance Charges are slightly over budget. The Locke Ranch maintenance assessments of $43,507 received in December via property tax payments explains the increase. December and April are the months with the largest tax payments. Personnel costs are still under budget due to existing vacant positions in the Water Fund. As stated in the water analysis, there are salary costs posted to CIP which are not recorded as actual personnel expense, thereby increasing the under - budget amount. Additionally, though all ADP payrolls have been posted through December, the salary allocation journals have not. This journal does not change any net figures, but it will impact the recording of personnel costs by fund. Sewer costs will increase by about $50,000 to $70,000 and water costs will decrease. After accounting for this journal, sewer's personnel costs would be around 12% of water's personnel costs, a combination of direct charges to sewer labor and reclassification of water labor costs to sewer. Supplies & Services are slightly under budget, being 9% of water expenses as expected. PRIOR RELEVANT BOARD ACTION(S): The Board of Directors reviews each quarter's financial statements. The financial statements for the quarter ended September 30, 2008 were received and filed on December 23, 2008. STAFF RECOMMENDATION: That the Committee recommend the Board of Directors receive and file the financial statements for the sixth month of fiscal year 2008 -09 ending December 31, 2008. OPERATING REVENUE WATER SALES Residential Water Combined Demand Commercial Fire Detector Landscape Water Irrigation Other Water Sales Too-Restricted for Debt Serv° Total OTHER Damages /Relocation Miscellaneous Billing Other Total SEWER MAINTENANCE CHARGES Sewer Rate Charge City Maintenance Charge Maintenance Assessment F.O.O. fees Collection Fees - Placentia Total CUSTOMER SERVICE CHARGES Customer Service Charges Back Flow Charges Total Rents 6 Royalties Total Operating Revenue 0 FOND 1 Schedule of Combined Revenue 12 -31 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D $ 12,983,902.00 8,737,484.88 4,246,417.12 33 7,158.00 4,347.71 2,810.29 39 1,191,790.00 778,928.50 412,861.50 35 150,000.00 60,002.13 89,997.87 60 2,700,850.00 2,226,300.27 474,549.73 18 45,600.00 46,922.82 <1,322.82> -3 418,710.00 229,532.74 189,177.26 45 0.00 <1,728,444.37> 1,728,444.37 -100 17,498,010.00 10,355,074.68 7,142,935.32 41 3,290.00 7,663.17 <4,373.17> -133 0.00 0.00 0.00 -100 10,200.00 15,128.44 <4,928.44> -48 13,490.00 22,791.61 <9,301.61> -69 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 75,000.00 79,014.00 <4,014.00> -5 49,600.00 29,134.94 20,465.06 41 124,600.00 108,148.94 16,451.06 13 99,100.00 4,556.16 94,543.84 95 17,735,200.00 10,490,571.39 7,244,628.61 41 0 FOND 1 Schedule of Combined Revenue 12 -31 -08 TOTAL REVENUE 19,432,050.00 13,519,790.48 5,912,259.52 30 RUN DATE /TIME: 13:12:22 05 Feb 2009 REPORT ID: COMSRP07;COMRSV07 ;RSVERP07 ANNUAL CORE YR VARIANCE VAR BUDGET Y -T -D Y -T -D $ NON - OPERATING REVENUE Taxes & Assessments 1,200,150.00 657,901.49 542,248.51 45 Interest 47,500.00 258,488.98 <210,988.98> -444 Other Revenue 449,200.00 384,384.25 64,815.75 14 Rev Restricted for Debt Sery 0.00 1,728,444.37 <1,728,444.37> -100 Total 11696,850.00 3,029,219.09 <1,332,369.09> -79 TOTAL REVENUE 19,432,050.00 13,519,790.48 5,912,259.52 30 RUN DATE /TIME: 13:12:22 05 Feb 2009 REPORT ID: COMSRP07;COMRSV07 ;RSVERP07 SUPPLIES & SERVICES AMP Lease Communications Contractual Services Data Services Dues & Memberships Election Expense Fees & Permits Insurance Legal /Settlement Agreements Maintenance Non Capitol Equipment Office Expense Rental Lease Professional Services Training Travel & Conferences Uncollectible Accounts Collection Agency Fee Utilities Vehicle Job Closing Expenses Unbudgeted Expenses VAR 61 68 57 -100 70 68 67 58 59 54 63 -100 -100 0.00 FUND 1 0.00 -100 Schedule of Combined Expenses 1111188.98 44 12 -31 -08 347,831.43 459,327.57 ANNUAL CURR YR VARIANCE 255,785.30 BUDGET Y -T -D Y -T -D ceccevvvecccvvvvcccvvvvvvcvvvvvvccvevvvecececvvcceeevvvcvcccvviceeccvvvicevvvvvcccvvveccvvcc PERSONNEL SERVICES 39,999.00 0.00 39,999.00 Salaries Unit 3,330,350.00 1,292,680.31 2,037,669.69 Salaries SC 1,051,509.00 334,407.39 717,101.61 Salaries Management 713,116.00 310,178.49 402,937.51 Salaries Other 0.00 0.00 0.00 Fees Directors 56,183.00 17,078.77 39,104.23 Fringe Benefits Unit 1,512,348.00 489,326.66 1,023,021.34 Fringe Benefits SC 346,877.00 114,030.85 232,846.15 Fringe Benefits Management 209,170.00 87,926.17 121,243.83 Fringe Benefits Directors 27,004.00 11,174.26 15,829.74 Fringe Benefits Other 142,643.00 66,194.05 76,448.95 Total Personnel Services 7,389,200.00 2,722,996.95 4,666,203.05 Depreciation 0.00 1,749,016.02 <1,749,016.02> Total Depreciation 0.00 1,749,016.02 <1,749,016.02> SUPPLIES & SERVICES AMP Lease Communications Contractual Services Data Services Dues & Memberships Election Expense Fees & Permits Insurance Legal /Settlement Agreements Maintenance Non Capitol Equipment Office Expense Rental Lease Professional Services Training Travel & Conferences Uncollectible Accounts Collection Agency Fee Utilities Vehicle Job Closing Expenses Unbudgeted Expenses VAR 61 68 57 -100 70 68 67 58 59 54 63 -100 -100 0.00 0.00 0.00 -100 251,690.00 140,501.02 1111188.98 44 807,159.00 347,831.43 459,327.57 57 282,417.00 26,631.70 255,785.30 91 31,585.00 17,349.40 14,235.60 45 39,999.00 0.00 39,999.00 100 44,617.00 15,195.30 29,421.70 66 303,940.00 222,366.67 81,573.33 27 0.00 0.00 0.00 -100 618,281.00 455,696.34 162,584.66 26 209,945.00 51,110.91 158,834.09 76 60,672.00 19,372.52 41,299.48 68 0.00 0.00 0.00 -100 622,021.00 177,274.90 444,746.10 72 87,643.00 8,129.24 79,513.76 91 59,343.00 15,246.21 44,096.79 74 19,499.00 0.00 19,499.00 100 1,000.00 0.00 11000.00 100 63,920.00 14,334.67 49,585.33 78 269,369.00 191,856.54 77,512.46 29 0.00 0.00 0.00 -100 0.00 0.00 0.00 -100 FUND 1 Schedule of Combined Expenses 12 -31 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D % Total Services & supplies 3,773,100.00 1,702,896.85 2,070,203.15 55 VARIABLE WATER COSTS Fuel & Power Pumping Ground Water Replenishment Purchased Water Readiness /Connection Charge Total Variable Water Costs NON - OPERATING EXPENSE Other Expense 955 Security Vulnerability Interest Exp on Long -term Debt Total Non - operating Expense 1,350,000.00 912,021.58 437,978.42 32 3,706,500.00 1,500,536.27 2,205,963.73 60 6,100,000.00 3,576,110.10 2,523,889.90 41 0.00 180,935.34 <180,935.34> -100 11,156,500.00 6,169,603.29 4,986,896.71 45 22,318,800.00 12,344,513.11 9,974,286.89 45 0.00 136,958.93 <136,958.93> -100 0.00 0.00 0.00 -100 0.00 1,065,706.70 <1,065,706.70> -100 0.00 1,202,665.63 Total Expenses 22,318,800.00 13,547,178.74 RUN DATE /TIME: 13:12:22 05 Feb 2009 REPORT ID: COMEXP07;COMREV07 ;REVEXP07 <1,202,665.63> -100 8,771,621.26 39 POND 1 Schedule of Revenue & Expense 12 -31 -08 ANNUAL CORE YR VARIANCE VAR BUDGET Y -T -D Y -T -D $ Operating Revenues: Metered water sales 17,040,410.00 11,824,135.99 5,216,274.01 31 Sewer maintenance charges 0.00 0.00 0.00 -100 Construction water sales 355,000.00 190,596.66 164,403.34 46 Irrigation sales 45,600.00 46,922.82 <1,322.82> -3 Other 13,490.00 22,791.61 <9,301.61> -69 Customer service fees 124,600.00 108,148.94 16,451.06 13 Rents and royalties 99,100.00 4,556.16 94,543.84 95 Outside District water sales 50,000.00 17,262.73 32,737.27 65 Unmetered water sales 7,000.00 4,600.85 2,399.15 34 Tot-Restricted for Debt Serv° 0.00 <1,728,444.37> 1,728,444.37 -100 Total Operating Revenues 17,735,200.00 10,490,571.39 7,244,628.61 41 Operating Expenses: Variable water costs 11,156,500.00 6,169,603.29 4,986,896.71 45 Personnel services 7,389,200.00 2,722,996.95 4,666,203.05 63 Depreciation 0.00 1,749,016.02 <1,749,016.02> -100 Supplies and services 3,773,100.00 1,702,896.85 2,070,203.15 55 Total Operating Expenses 22,318,800.00 12,344,513.11 9,974,286.89 45 Operating (Loss) <4,583,600.00> 41,853,941.72> <2,729,658.28> 60 Nonoperating Revenues: c Property taxes - debt service Property taxes - operations Interest income Other revenue Rev Restricted for Debt Sery Total Nonoperating Revenues Nonoperating expenses: Interest expense Security Vulnerability Exp Other expense Total Nonoperating Expenses Income (Loss) before Capital Contributions FUND 1 Schedule of Revenue & Expense 12 -31 -08 ANNUAL CURE YR VARIANCE VAR BUDGET Y -T -D Y -T -D $ 0.00 0.00 0.00 -100 1,200,150.00 657,901.49 542,248.51 45 47,500.00 258,488.98 <210,988.98> -444 449,200.00 384,384.25 64,815.75 14 0.00 1,728,444.37 <1,728,444.37> -100 1,696,850.00 3,029,219.09 <1,332,369.09> -79 0.00 1,065,706.70 <1,065,706.70> -100 0.00 0.00 0.00 -100 0.00 136,958.93 <136,958.93> -100 0.00 1,202,665.63 <1,202,665.63> -100 <2,886,750.00> <27,388.26> <2,859,361.74> 99 Capital Contributions 667,100.00 341,101.77 325,998.23 49 Change in Net Assets: <2,219,650.00> 313,713.51 <2,533,363.51> 113 RUN DATE /TIME: 13:12:22 05 Feb 2009 REPORT ID: COMEXP07;CONREV07;REVEXP07 FUND 2 Schedule of Combined Revenue 12 -31 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D $ OPERATING REVENUE WATER SALES Residential Water 0.00 0.00 0.00 -100 Combined Demand 0.00 0.00 0.00 -100 Commercial 0.00 0.00 0.00 -100 Fire Detector 0.00 0.00 0.00 -100 Landscape Water 0.00 0.00 0.00 -100 Irrigation 0.00 0.00 0.00 -100 Other Water Sales 0.00 0.00 0.00 -100 To: "Restricted for Debt Serv° 0.00 0.00 0.00 -100 Total 0.00 0.00 0.00 -100 OTHER Damagee /Relocation 0.00 0.00 0.00 -100 Miscellaneous Billing 0.00 66.00 <66.00> -100 Other 0.00 855.00 <855.00> -100 Total 0.00 921.00 <921.00> -100 SEWER MAINTENANCE CHARGES Sewer Rate Charge 1,141,650.00 588,391.72 553,258.28 48 City Maintenance Charge 0.00 0.00 0.00 -100 Maintenance Assessment 104,900.00 56,232.64 48,667.36 46 F.O.G. fees 0.00 0.00 0.00 -100 Collection Fees - Placentia 3,300.00 1,500.00 1,800.00 55 Total 1,249,850.00 646,124.36 603,725.64 48 CUSTOMER SERVICE CHARGES Customer Service Charges 0.00 0.00 0.00 -100 Back Flow Charges 0.00 0.00 0.00 -100 Total 0.00 0.00 0.00 -100 Rants & Royalties 0.00 0.00 0.00 -100 Total Operating Revenue 1,249,850.00 647,045.36 602,804.64 48 FUND 2 Schedule of Combined Revenue 12 -31 -08 ANNUAL CDRR YR VARIANCE VAR BUDGET Y -T -D Y -T -D % NON - OPERATING REVENUE Taxes & Assessments 66,000.00 Interest 17,000.00 Other Revenue 5,000.00 Rev Restricted for Debt Sery 0.00 Total 88,000.00 0.00 66,000.00 6,209.38 10,790.62 11,134.10 <6,134.10> 0.00 0.00 17,343.48 70,656.52 100 63 -123 -100 80 TOTAL REVENUE 1,337,850.00 664,388.84 673,461.16 50 RUN DATE /TIME: 13:12:22 05 Feb 2009 REPORT ID: COMERP07;COMREV07;REVESP07 FUND 2 Schedule of Combined Expenses 12 -31 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D % PERSONNEL SERVICES Salaries Unit Salaries SC Salaries Management Salaries Other Fees Directors Fringe Benefits Unit Fringe Benefits SC Fringe Benefits Management Fringe Benefits Directors Fringe Benefits Other Total Personnel Services 329,376.00 131,638.35 197,737.65 60 103,997.00 24,981.94 79,015.06 76 70,525.00 24,062.55 46,462.45 66 0.00 0.00 0.00 -100 5,557.00 924.58 4,632.42 83 149,573.00 49,158.50 100,414.50 67 34,311.00 9,024.67 25,286.33 74 20,688.00 5,799.96 14,888.04 72 2,670.00 726.90 1,943.10 73 14,103.00 2,926.24 11,176.76 79 730,800.00 249,243.69 481,556.31 66 Depreciation 0.00 268,211.10 <268,211.10> -100 Total Depreciation 0.00 268,211.10 <268,211.10> -100 SUPPLIES & SERVICES AMP Lease 0.00 0.00 0.00 -100 Communications 22,545.00 11,785.59 10,759.41 48 Contractual Services 72,676.00 53,346.15 19,329.85 27 Data Services 25,427.00 704.27 24,722.73 97 Dues & Memberships 2,845.00 1,787.52 1,057.48 37 Election Expense 3,601.00 0.00 3,601.00 100 Fees & Permits 4,019.00 1,642.01 2,376.99 59 Insurance 27,365.00 21,992.31 5,372.69 20 Legal /Settlement Agreements 0.00 0.00 0.00 -100 Maintenance 55,669.00 24,141.92 31,527.08 57 Non Capitol Equipment 18,900.00 2,913.44 15,986.56 85 Office Expense 5,463.00 1,915.97 3,547.03 65 Rental Lease 0.00 0.00 0.00 -100 Professional Services 56,004.00 16,474.92 39,529.08 71 Training 7,892.00 1,418.96 6,473.04 82 Travel & Conferences 5,342.00 1,230.75 4,111.25 77 Uncollectible Accounts 1,756.00 0.00 1,756.00 100 Collection Agency Fee 90.00 0.00 90.00 100 Utilities 5,755.00 114.95 5,640.05 98 Vehicle 24,251.00 15,144.20 91106.80 38 Job Closing Expenses 0.00 0.00 0.00 -100 Unbudgeted Expenses 0.00 0.00 0.00 -100 FUND 2 Schedule of Combined Expenses 12 -31 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D $ = v�eveeeevvvvecv�vvv= vvvvvcvcvvcvvice Total Services & supplies =e =eeceveeee =e = = =o =nee==== v�==== eev_==== 339,600.00 154,612.96 vveee =�= eve=== �= �e = = = = =e 184,987.04 54 VARIABLE WATER COSTS Fuel & Power Pumping 0.00 0.00 0.00 -100 Ground Water Replenishment 0.00 0.00 0.00 -100 Purchased Water 0.00 0.00 0.00 -100 Readiness /Connection Charge 0.00 0.00 0.00 -100 Total Variable Water Costs 0.00 0.00 0.00 -100 TOTAL OPERATING EXPENSE 1,070,400.00 672,067.75 398,332.25 37 NON - OPERATING EXPENSE Other Expense 0.00 913.22 <913.22> -100 955 Security Vulnerability 0.00 0.00 0.00 -100 Interest Exp on Long -term Debt 0.00 0.00 0.00 -100 Total Non - operating Expense 0.00 913.22 <913.22> -100 Total Expenses 1,070,400.00 672,980.97 397,419.03 37 RUN DATE /TIME: 13:12:22 05 Feb 2009 REPORT ID: COMEXP07;COMREV07 ;REVRXP07 POND 2 Schedule of Revenue & Expense 12 -31 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D $ Operating Revenues: Metered water sales 0.00 0.00 0.00 -100 Sewer maintenance charges 1,246,550.00 644,624.36 601,925.64 48 Construction water sales 0.00 0.00 0.00 -100 Irrigation sales 0.00 0.00 0.00 -100 Other 3,300.00 2,421.00 879.00 27 Customer service fees 0.00 0.00 0.00 -100 Rents and royalties 0.00 0.00 0.00 -100 Outside District water sales 0.00 0.00 0.00 -100 Unmetered water sales 0.00 0.00 0.00 -100 To: -Restricted for Debt Serv" 0.00 0.00 0.00 -100 Total Operating Revenues 1,249,850.00 647,045.36 602,804.64 48 Operating Expenses: Variable water costs 0.00 0.00 0.00 -100 Personnel services 730,800.00 249,243.69 481,556.31 66 Depreciation 0.00 268,211.10 <268,211.10> -100 Supplies and services 339,600.00 154,612.96 184,987.04 54 Total Operating Expenses 1,070,400.00 672,067.75 398,332.25 37 Operating (Loss) 179,450.00 <25,022.39> 204,472.39 113 FUND 2 Schedule of Revenue & Expense 12 -31 -08 ANNUAL CURR YR VARIANCE VAR BUDGET Y -T -D Y -T -D $ Nonoperating Revenues: Property taxes - debt service 0.00 0.00 0.00 -100 Property taxes - operations 66,000.00 0.00 66,000.00 100 Interest income 17,000.00 6,209.38 10,790.62 63 Other revenue 51000.00 11,134.10 <6,134.10> -123 Rev Restricted for Debt Sery 0.00 0.00 0.00 -100 Total Nonoperating Revenues 88,000.00 17,343.48 70,656.52 80 Nonoperating expenses: Interest expense 0.00 0.00 0.00 -100 Security Vulnerability Exp 0.00 0.00 0.00 -100 Other expense 0.00 913.22 <913.22> -100 Total Nonoperating Expenses 0.00 913.22 <913.22> -100 Income (Loss) before Capital Contributions 267,450.00 <8,592.13> 276,042.13 102 Capital Contributions 251,000.00 277,519.06 <26,519.06> -11 Change in Net Assets: 518,450.00 268,926.93 249,523.07 48 RUN DATE /TINE: 13 :12:22 05 Feb 2009 REPORT ID: COMEbP07;COMREV07;REVRRP07