HomeMy WebLinkAbout2008-04-08 - Finance-Accounting Committee Meeting Agenda Packetr�,
YORBA LINDA WATER DISTRICT
FINANCE - ACCOUNTING COMMITTEE MEETING
Tuesday, April 8, 2008, 4:00 p.m.
4622 Plumosa Drive, Yorba Linda — Tel: (714) 701 - 3020
COMMITTEE:
Director Michael J. Beverage, Chair
Director John W. Summerfield
Alternate: Director William R. Mills
AGENDA
STAFF:
Michael A. Payne, General Manager
Ken Vecchiarelli, Asst. Gen Mgr.
Diane Cyganik, Finance Director
Sandi Van Etten, Senior Accountant
INTRODUCTION OF VISITORS AND 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 actions.
Quarterly Financial Statements for the First and Second Quarter of FY 2007/08
ending September 30 and December 31, 2007, respectively.
Recommendation: That the Finance - Accounting Committee review and
recommend to the Board of Directors that the Quarterly Financial Statements
for September and December 2007 be received and filed.
2. Monthly Financial Statements for the seventh and eighth months ending January
31 and February 29, 2007, respectively.
Recommendation: That the Finance - Accounting Committee review and
recommend to the Board of Directors that the Monthly Financial Statements
for January and February 2008 be received and filed.
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.
3. Investment Report Ending February 29, 2008.
4. Monthly Portfolio Reports Ending March 31, 2008. Report by Keith Khorey, Wells
Capital Management.
5. Reporting of Significant Event in Connection with the Continuing Disclosure
Obligations on the 2003 Certificates of Participation.
ADJOURNMENT:
The next Finance - Accounting Committee meeting is scheduled for May 13, 2008 at 4:00
p.m.
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 Michael A. Payne, District 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
Committee Meeting Date: April 8, 2008
To: Finance - Accounting Committee
From: Michael A. Payne, General Manager
Staff Contact: Diane Cyganik, Finance Director
Reviewed by General Counsel: N/A Budgeted:
Funding Source:
CEQA Account No:
Compliance: N/A Estimated Costs:
ITEM NO
N/A Total Budget:
All Funds
Job No:
Dept: Bus
I
Subject: Financial Statements for the first and second quarters of fiscal year 2007 -2008 for
the periods ending September 30, and December 31, 2007, respectively.
SUMMARY:
A presentation of the Financial Statements for the first quarter of fiscal year 2007 -2008 for the
period ending September 30, 2007.
DISCUSSION:
The Water Operating Fund had a Net Loss for the first quarter of fiscal year 2007 -2008 ending
September 30, 2007 of $689,169. The key factors are outlined below:
Yorba Linda Water District
Quarterly Financial Statement Analysis — Water Operating Fund
For the Quarter Ending September 30, 2007
The Water Operating Fund is showing water sales greater than what we had anticipated due to
the drier weather conditions this fiscal year and the variable water costs are most likely higher
because of the fact that Water Costs go hand -in -hand with Water Sales as well as the possibility
of faulty meters due to the aging of the meters. All meters will be eventually replaced with the
radio read meters. Personnel costs and supplies & services are lower than anticipated based on
the budget at this point in time. Personnel costs are lower due to positions that have been
budgeted, however, have not yet been filled. As far as supplies and services this is a hard area
to place a pulse on because it is unknown as to when supplies will be exhausted and in need of
ordering.
September 30,
Y -T -D ($)
Y -T -D ( %)
Budget
2007
Budget
Budget
Description
FY 2007/08
Actual Y -T -D
Remaining
Remaining
Total Water Sales
$
17,217,870
$ 5,706,907
$
(11,510,963)
-67%
Total Variable Water Costs
$
10,520,000
$ 3,577,601
$
6,942,399
66%
Personnel Costs
$
6,992,970
$ 1,268,418
$
5,724,552
82%
Supplies & Services
$
3,740,200
$ 846,830
$
2,893,370
77%
The Water Operating Fund is showing water sales greater than what we had anticipated due to
the drier weather conditions this fiscal year and the variable water costs are most likely higher
because of the fact that Water Costs go hand -in -hand with Water Sales as well as the possibility
of faulty meters due to the aging of the meters. All meters will be eventually replaced with the
radio read meters. Personnel costs and supplies & services are lower than anticipated based on
the budget at this point in time. Personnel costs are lower due to positions that have been
budgeted, however, have not yet been filled. As far as supplies and services this is a hard area
to place a pulse on because it is unknown as to when supplies will be exhausted and in need of
ordering.
The Sewer Operating Fund had a Net Loss for the first quarter of fiscal year 2007 -2008 ending
September 30, 2007 of $101,637. The key factors are outlined below:
Yorba Linda Water District
Quarterly Financial Statement Analysis — Sewer Operating Fund
For the Quarter Ending September 30, 2007
September, Y -T -D ($) Y -T -D ( %)
Budget 2007 Budget Budget
Description FY 2007/08 Actual Y -T -D Remaining Remaining
Sewer Maintenance Charges $ 1,243,700 $ 225,866 $ (1,017,834) -82%
Personnel Costs $ 694,130 $ 143,333 $ 550,797 79%
Supplies & Services $ 336,600 $ 58,485 $ 278,115 83%
The Sewer Operating Fund is pretty much right on target on what was budgeted for at this point
in time without any material variances that need explanation.
Financial Statement Overview for the Second Quarter of Fiscal Year 2007/08
Ending December 31, 2007
The Water Operating Fund had a Net Loss for the second quarter of fiscal year 2007 -2008
ending December 31, 2007 of $33,781. The key factors are outlined below:
Yorba Linda Water District
Quarterly Financial Statement Analysis — Water Operating Fund
For the Quarter Ending December 31, 2007
The Water Operating Fund is showing water sales greater than what we had anticipated due to
the drier weather conditions this fiscal year and the variable water costs are most likely higher
because of the fact that Water Costs go hand -in -hand with Water Sales as well as the possibility
of faulty meters due to the aging of the meters. All meters will be eventually replaced with the
radio read meters. Personnel costs and supplies & services are lower than anticipated based on
the budget at this point in time. Personnel costs are lower due to positions that have been
budgeted, however, have not yet been filled. As far as supplies and services this is a hard area
to place a pulse on because it is unknown as to when supplies will be exhausted and in need of
ordering.
December 31,
Y -T -D ($)
Y -T -D ( %)
Budget
2007
Budget
Budget
Description
FY 2007/08
Actual Y -T -D
Remaining
Remaining
Total Water Sales
$
17,217,870
$ 11,017,334
$
( 6,200,536)
-36%
Total Variable Water Costs
$
10,520,000
$ 5,741,950
$
4,778,050
45%
Personnel Costs
$
6,992,970
$ 2,415,684
$
4,577,286
65%
Supplies & Services
$
3,740,200
$ 1,524,477
$
2,215,723
59%
The Water Operating Fund is showing water sales greater than what we had anticipated due to
the drier weather conditions this fiscal year and the variable water costs are most likely higher
because of the fact that Water Costs go hand -in -hand with Water Sales as well as the possibility
of faulty meters due to the aging of the meters. All meters will be eventually replaced with the
radio read meters. Personnel costs and supplies & services are lower than anticipated based on
the budget at this point in time. Personnel costs are lower due to positions that have been
budgeted, however, have not yet been filled. As far as supplies and services this is a hard area
to place a pulse on because it is unknown as to when supplies will be exhausted and in need of
ordering.
The Sewer Operating Fund had a Net Loss for the first quarter of fiscal year 2007 -2008 ending
December 30, 2007 of $97,602. The key factors are outlined below:
Yorba Linda Water District
Quarterly Financial Statement Analysis — Sewer Operating Fund
For the Quarter Ending December 31, 2007
December, Y -T -D ($) Y -T -D ( %)
Budget 2007 Budget Budget
Description FY 2007/08 Actual Y -T -D Remaining Remaining
Sewer Maintenance Charges $1,243,700 $ 577,514 $(666,186) -54%
Personnel Costs $ 694,130 $ 274,870 $ 419,260 60%
Supplies & Services $ 336,600 $ 147,298 $ 189,302 56%
The Sewer Operating Fund is pretty much right on target on what was budgeted for at this point
in time without any material variances that need explanation.
PRIOR RELEVANT BOARD ACTION(S):
The Board of Directors reviews each quarter's financial statements. The financial statements for
the quarter ending June 30, 2007 were reviewed on August 9, 2007 The Audited Financial
Statements were received and filed by the Board on December 13, 2007.
STAFF RECOMMENDATION:
That the Committee recommend the Board of Directors receive and file the financial statements
for the first and second quarter of fiscal year 2007 -2008 for the periods ending September 31,
and December 31, 2007, respectively.
FUND 1
Schedule
of Combined Expenses
09 -30 -07
ANNUAL
CURR YR
VARIANCE
VAR
BUDGET
Y -T -D
Y -T -D
PERSONNEL SERVICES
Salaries Unit
3,168,005.00
603,199.11
2,564,805.89
81
Salaries SC
978,970.00
134,085.89
844,884.11
86
Salaries Management
675,340.00
144,201.61
531,138.39
79
Salaries Other
0.00
0.00
0.00
-100
Fees Directors
54,145.00
10,037.30
44,107.70
81
Fringe Benefits Unit
1,424,600.00
240,801.42
1,183,798.58
83
Fringe Benefits SC
340,350.00
52,268.40
288,081.60
85
Fringe Benefits Management
195,455.00
36,028.88
159,426.12
82
Fringe Benefits Directors
24,340.00
4,883.81
19,456.19
80
Fringe Benefits Other
131,765.00
42,911.34
88,853.66
67
Total Personnel Services
6,992,970.00
1,268,417.76
5,724,552.24
82
Depreciation
2,933,300.00
761,331.01
2,171,968.99
74
Total Depreciation
2,933,300.00
761,331.01
2,171,968.99
74
SUPPLIES & SERVICES
AMP Lease
0.00
0.00
0.00
-100
Communications
283,990.00
42,694.32
241,295.68
85
Contractual Services
769,255.00
159,591.25
609,663.75
79
Data Services
199,925.00
11,472.01
188,452.99
94
Dues & Memberships
29,815.00
3,029.59
26,785.41
90
Election Expense
0.00
0.00
0.00
-100
Fees & Permits
36,690.00
22,070.64
14,619.36
40
Insurance
299,780.00
190,745.95
109,034.05
36
Legal /Settlement Agreements
0.00
0.00
0.00
-100
Maintenance
630,170.00
217,122.99
413,047.01
66
Non Capitol Equipment
143,540.00
19,202.88
124,337.12
87
Office Expense
52,495.00
7,449.85
45,045.15
86
Rental Lease
6,145.00
973.12
5,171.88
84
Professional Services
810,735.00
61,205.44
749,529.56
92
Training
80,575.00
15,007.50
65,567.50
81
Travel & Conferences
55,830.00
19,137.46
36,692.54
66
Uncollectible Accounts
16,350.00
0.00
16,350.00
100
Collection Agency Fee
990.00
0.00
990.00
100
Utilities
45,760.00
10,768.77
34,991.23
76
Vehicle
278,155.00
66,358.11
211,796.89
76
Job Closing Expenses
0.00
0.00
0.00
-100
Unbudgeted Expenses
0.00
0.00
0.00
-100
FUND 1
Schedule of Combined Expenses
09 -30 -07
ANNUAL CURR YR VARIANCE VAR
BUDGET Y -T -D Y -T -D %
---------------- -- - - - - --
Total Services & supplies 3,740,200.00 846,829.88 2,893,370.12 77
NON - OPERATING EXPENSE
Other Expense 0.00
955 Security Vulnerability 0.00
Interest Exp on Long -term Debt 0.00
Total Non - operating Expense 0.00
Total Expenses 24,186,470.00
RUN DATE /TIME: 16:19:00 03 Apr 2008 REPORT ID: comexp07
14,537.53 <14,537.53> -100
0.00 0.00 -100
116,765.62 <116,765.62> -100
131,303.15 <131,303.15> -100
6,585,482.72 17,600,987.28 73
FUND 1
Schedule
of Combined Expenses
09 -30 -07
ANNUAL
CURR YR
VARIANCE
VAR
BUDGET
Y -T -D
Y -T -D
VARIABLE WATER COSTS
------------------------------------
Fuel & Power Pumping
1,312,000.00
382,140.52
929,859.48
71
Ground Water Replenishment
3,408,000.00
1,012,576.67
2,395,423.33
70
Purchased Water
5,800,000.00
2,086,726.20
3,713,273.80
64
Readiness /Connection Charge
0.00
96,157.53
<96,157.53>
-100
Total Variable Water Costs
10,520,000.00
3,577,600.92
6,942,399.08
66
TOTAL OPERATING EXPENSE
24,186,470.00
6,454,179.57
17,732,290.43
73
NON - OPERATING EXPENSE
Other Expense 0.00
955 Security Vulnerability 0.00
Interest Exp on Long -term Debt 0.00
Total Non - operating Expense 0.00
Total Expenses 24,186,470.00
RUN DATE /TIME: 16:19:00 03 Apr 2008 REPORT ID: comexp07
14,537.53 <14,537.53> -100
0.00 0.00 -100
116,765.62 <116,765.62> -100
131,303.15 <131,303.15> -100
6,585,482.72 17,600,987.28 73
FUND 1
Schedule
of Combined Expenses
12 -31 -07
ANNUAL
CURR YR
VARIANCE
VAR
BUDGET
Y -T -D
Y -T -D
$
PERSONNEL SERVICES
Salaries Unit
3,168,005.00
1,147,644.28
2,020,360.72
64
Salaries SC
978,970.00
280,324.34
698,645.66
71
Salaries Management
675,340.00
281,361.42
393,978.58
58
Salaries Other
0.00
0.00
0.00
-100
Fees Directors
54,145.00
18,727.21
35,417.79
65
Fringe Benefits Unit
1,424,600.00
435,012.26
989,587.74
69
Fringe Benefits SC
340,350.00
99,372.60
240,977.40
71
Fringe Benefits Management
195,455.00
69,311.35
126,143.65
65
Fringe Benefits Directors
24,340.00
9,908.85
14,431.15
59
Fringe Benefits Other
131,765.00
74,021.41
57,743.59
44
Total Personnel Services
6,992,970.00
2,415,683.72
4,577,286.28
65
Depreciation
2,933,300.00
1,522,326.25
1,410,973.75
48
Total Depreciation
2,933,300.00
1,522,326.25
1,410,973.75
48
SUPPLIES & SERVICES
AMP Lease
0.00
0.00
0.00
-100
Communications
283,990.00
83,794.61
200,195.39
70
Contractual Services
769,255.00
324,013.11
445,241.89
58
Data Services
199,925.00
32,910.33
167,014.67
84
Dues & Memberships
29,815.00
18,184.13
11,630.87
39
Election Expense
0.00
0.00
0.00
-100
Fees & Permits
36,690.00
23,430.52
13,259.48
36
Insurance
299,780.00
192,362.58
107,417.42
36
Legal /Settlement Agreements
0.00
0.00
0.00
-100
Maintenance
630,170.00
438,456.77
191,713.23
30
Non Capitol Equipment
143,540.00
33,556.66
109,983.34
77
Office Expense
52,495.00
14,738.33
37,756.67
72
Rental Lease
6,145.00
2,343.70
3,801.30
62
Professional Services
810,735.00
123,271.69
687,463.31
85
Training
80,575.00
25,529.76
55,045.24
68
Travel & Conferences
55,830.00
37,071.85
18,758.15
34
Uncollectible Accounts
16,350.00
0.00
16,350.00
100
Collection Agency Fee
990.00
0.00
990.00
100
Utilities
45,760.00
18,001.88
27,758.12
61
Vehicle
278,155.00
156,810.99
121,344.01
44
Job Closing Expenses
0.00
0.00
0.00
-100
Unbudgeted Expenses
0.00
0.00
0.00
-100
FUND 1
Schedule of Combined Expenses
12 -31 -07
ANNUAL CURR YR VARIANCE VAR
BUDGET Y -T -D Y -T -D %
Total Services & supplies 3,740,200.00 1,524,476.91 2,215,723.09 59
TOTAL OPERATING EXPENSE
NON - OPERATING EXPENSE
Other Expense
955 Security Vulnerability
Interest Exp on Long -term Debt
Total Non - operating Expense
24,186,470.00 11,204,436.70 12,982,033.30 54
0.00
0.00
0.00
0.00
Total Expenses 24,186,470.00
RUN DATE /TIME: 16:16:04 03 Apr 2008 REPORT ID: comexp07
37,524.21 <37,524.21> -100
0.00 0.00 -100
232,297.51 <232,297.51> -100
269,821.72 <269,821.72> -100
11,474,258.42 12,712,211.58 53
FUND 1
Schedule
of Combined Expenses
12 -31 -07
ANNUAL
CURR YR
VARIANCE
VAR
BUDGET
Y -T -D
Y -T -D
VARIABLE WATER COSTS
Fuel & Power Pumping
1,312,000.00
658,896.08
653,103.92
50
Ground Water Replenishment
3,408,000.00
1,768,162.79
1,639,837.21
48
Purchased Water
5,800,000.00
3,122,575.89
2,677,424.11
46
Readiness /Connection Charge
0.00
192,315.06
<192,315.06>
-100
Total Variable Water Costs
10,520,000.00
5,741,949.82
4,778,050.18
45
TOTAL OPERATING EXPENSE
NON - OPERATING EXPENSE
Other Expense
955 Security Vulnerability
Interest Exp on Long -term Debt
Total Non - operating Expense
24,186,470.00 11,204,436.70 12,982,033.30 54
0.00
0.00
0.00
0.00
Total Expenses 24,186,470.00
RUN DATE /TIME: 16:16:04 03 Apr 2008 REPORT ID: comexp07
37,524.21 <37,524.21> -100
0.00 0.00 -100
232,297.51 <232,297.51> -100
269,821.72 <269,821.72> -100
11,474,258.42 12,712,211.58 53
AGENDA REPORT
Committee Meeting Date: April 8, 2008
To: Finance - Accounting Committee
From: Michael A. Payne, General Manager
Staff Contact: Diane Cyganik, Finance Director
Reviewed by General Counsel: N/A Budgeted:
Funding Source:
CEQA Account No:
Compliance: N/A Estimated Costs:
ITEM NO.
N/A Total Budget:
All Funds
Job No:
Dept: Bus
Subject: Financial Statements for the seventh and eighth months of fiscal year 2007 -2008
ending January 31 and February 29, 2008, respectively.
SUMMARY:
A presentation of the Financial Statements for the seventh and eighth months of fiscal year
2007 -2008 ending January 31 and February 29, 2008, respectively.
DISCUSSION:
The Water Operating Fund had a Net Income for the seventh month of fiscal year 2007 -2008
ending January 31, 2008 of $30,967. The key factors are outlined below:
Yorba Linda Water District
Monthly Financial Statement Analysis — Water Operating Fund
For the Month Ending January 31, 2008
The Water Operating Fund is showing water sales greater than what we had anticipated due to
the drier weather conditions as well as the water rate increase that was not included in the
budget. The variable water costs are slightly higher due to an increase in the purchased water
cost of $30 per acre foot from $489.50 to $519.50. Personnel costs as well as supplies &
services are lower than anticipated based on the budget at this point in time. Personnel costs
are due to budgeted positions that have not been filled and supplies & services are because of
timing issues of as to when products are needed, ordered and received.
January ,
Y -T -D ($)
Y -T -D ( %)
Budget
2008
Budget
Budget
Description
FY 2007/08
Actual Y -T -D
_Remaining
Remaining
Total Water Sales
$
17,217,870
$
12,434,829
$
(4,783,041)
-28%
Total Variable Water Costs
$
10,520,000
$
6,249,605
$
4,270,395
41%
Personnel Costs
$
6,992,970
$
2,833,037
$
4,159,933
59%
Supplies & Services
$
3,740,200
$
1,751,325
$
1,988,875
53%
The Water Operating Fund is showing water sales greater than what we had anticipated due to
the drier weather conditions as well as the water rate increase that was not included in the
budget. The variable water costs are slightly higher due to an increase in the purchased water
cost of $30 per acre foot from $489.50 to $519.50. Personnel costs as well as supplies &
services are lower than anticipated based on the budget at this point in time. Personnel costs
are due to budgeted positions that have not been filled and supplies & services are because of
timing issues of as to when products are needed, ordered and received.
The Sewer Fund had a Net Loss for the seventh month of fiscal year 2007 -2008 ending January
31, 2008 of $119,705. The key factors are outlined below:
Yorba Linda Water District
Monthly Financial Statement Analysis — Sewer Operating Fund
February,
For the Month Ending January 31, 2008
Y -T -D ($)
Y -T -D ( %)
January,
Y -T -D ($)
Y -T -D ( %)
Budget 2008
Budget
Budget
Description FY 2007/08 Actual Y -T -D
Remaining
Remaining
Sewer Maintenance Charges $ 1,243,700 $ 674,636
$ (569,064)
-46%
Personnel Costs $ 694,130 $ 321,627
$ 372,503
54%
Supplies & Services $ 336,600 $ 177,326
$ 159,274
47%
The Sewer Operating Fund is pretty much right on target on what was budgeted for at this point
in time. There aren't any significant material variances to report with the exception of Personnel
Costs due to more positions being vacant therefore impacting the allocation charges to the
Sewer Operating Fund.
Financial Statement Overview for February 29, 2008
The Water Operating Fund had a Net Loss for the eighth month of fiscal year 2007 -2008 ending
February 29, 2008 of $130,410. The key factors are outlined below:
Yorba Linda Water District
Monthly Financial Statement Analysis — Water Operating Fund
For the Month Ending February 29, 2008
The Water Operating Fund is showing water sales greater than what we had anticipated due to
the drier weather conditions as well as the water rate increase that was not included in the
budget. The variable water costs are slightly higher due to an increase in the purchased water
cost of $30 per acre foot from $489.50 to $519.50. Personnel costs as well as supplies &
services are lower than anticipated based on the budget at this point in time. Personnel costs
are due to budgeted positions that have not been filled and supplies & services are because of
timing issues of as to when products are needed, ordered and received.
February,
Y -T -D ($)
Y -T -D ( %)
Budget
2008
Budget
Budget
Description
FY 2007/08
Actual Y -T -D
Remaining
Remaining
Total Water Sales
$
17,217,870
$
13,614,246
$
(3,603,624)
-21%
Total Variable Water Costs
$
10,520,000
$
6,752,446
$
3,767,554
36%
Personnel Costs
$
6,992,970
$
3,218,097
$
3,774,873
54%
Supplies & Services
$
3,740,200
$
1,962,087
$
1,778,113
48%
The Water Operating Fund is showing water sales greater than what we had anticipated due to
the drier weather conditions as well as the water rate increase that was not included in the
budget. The variable water costs are slightly higher due to an increase in the purchased water
cost of $30 per acre foot from $489.50 to $519.50. Personnel costs as well as supplies &
services are lower than anticipated based on the budget at this point in time. Personnel costs
are due to budgeted positions that have not been filled and supplies & services are because of
timing issues of as to when products are needed, ordered and received.
The Sewer Fund had a Net Loss for the eighth month of fiscal year 2007 -2008 ending February
29, 2008 of $121,582. The key factors are outlined below:
Yorba Linda Water District
Monthly Financial Statement Analysis — Sewer Operating
Fund
For the Month Ending February 29, 2008
February,
Y -T -D ($)
Y -T -D ( %)
Budget 2008
Budget
Budget
Description FY 2007/08 Actual Y -T -D
Remaining
Remaining
Sewer Maintenance Charges $ 1,243,700 $ 768,160
$ (475,540)
-38%
Personnel Costs $ 694,130 $ 365,866
$ 328,264
47%
Supplies & Services $ 336,600 $ 186,131
$ 150,469
45%
The Sewer Operating Fund is pretty much right on target on what was budgeted for at this point
in time. There aren't any significant material variances to report with the exception of Personnel
Costs due to more positions being vacant therefore impacting the allocation charges to the
Sewer Operating Fund.
PRIOR RELEVANT BOARD ACTION(S):
The Board of Directors reviews each quarter's financial statements. The financial statements for
the quarter ending June 30, 2007 were reviewed on August 9, 2007 The Audited Financial
Statements were received and filed by the Board on December 13, 2007.
STAFF RECOMMENDATION:
That the Committee recommend the Board of Directors receive and file the financial statements
for the seventh and eighth months of fiscal year 2007 -2008 ending January 31 and February 29,
2008, respectively.
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
Depreciation
Total Depreciation
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
FUND 1
Schedule
of Combined Expenses
02 -29 -08
ANNUAL
CURR YR
VARIANCE
VAR
BUDGET
Y -T -D
Y -T -D
3,168,005.00
1,505,299.51
1,662,705.49
52
978,970.00
386,478.27
592,491.73
61
675,340.00
372,248.79
303,091.21
45
0.00
0.00
0.00
-100
54,145.00
22,823.15
31,321.85
58
1,424,600.00
590,722.19
833,877.81
59
340,350.00
140,842.76
199,507.24
59
195,455.00
93,387.10
102,067.90
52
24,340.00
13,495.58
10,844.42
45
131,765.00
92,799.39
38,965.61
30
6,992,970.00
3,218,096.74
3,774,873.26
54
2,933,300.00
2,029,591.96
903,708.04
31
2,933,300.00
2,029,591.96
903,708.04
31
0.00
0.00
0.00
-100
283,990.00
113,179.92
170,810.08
60
769,255.00
428,436.48
340,818.52
44
199,925.00
44,581.92
155,343.08
78
29,815.00
22,466.23
7,348.77
25
0.00
0.00
0.00
-100
36,690.00
24,965.02
11,724.98
32
299,780.00
193,619.79
106,160.21
35
0.00
0.00
0.00
-100
630,170.00
597,727.26
32,442.74
5
143,540.00
41,989.28
101,550.72
71
52,495.00
19,510.82
32,984.18
63
6,145.00
3,257.41
2,887.59
47
810,735.00
169,264.86
641,470.14
79
80,575.00
30,128.83
50,446.17
63
55,830.00
44,601.16
11,228.84
20
16,350.00
0.00
16,350.00
100
990.00
0.00
990.00
100
45,760.00
22,732.99
23,027.01
50
278,155.00
205,625.16
72,529.84
26
0.00
0.00
0.00
-100
0.00
0.00
0.00
-100
FUND 1
Schedule of Combined Expenses
02 -29 -08
ANNUAL CURR YR VARIANCE VAR
BUDGET Y -T -D Y -T -D %
Total Services & supplies 3,740,200.00 1,962,087.13 1,778,112.87 48
NON - OPERATING EXPENSE
Other Expense
955 Security Vulnerability
Interest Exp on Long -term Debt
Total Non- operating Expense
0.00 99,086.39 <99,086.39> -100
0.00 0.00 0.00 -100
0.00 309,318.77 <309,318.77> -100
0.00
Total Expenses 24,186,470.00
RUN DATE /TIME: 16:04:27 03 Apr 2008 REPORT ID: comexp07
408,405.16 <408,405.16> -100
14,370,627.05 9,815,842.95 41
FUND 1
Schedule
of Combined Expenses
02 -29 -08
ANNUAL
CURR YR
VARIANCE
VAR
BUDGET
Y -T -D
Y -T -D
$
VARIABLE WATER COSTS
Fuel & Power Pumping
1,312,000.00
819,784.13
492,215.87
38
Ground Water Replenishment
3,408,000.00
2,068,583.99
1,339,416.01
39
Purchased Water
5,800,000.00
3,609,542.34
2,190,457.66
38
Readiness /Connection Charge
0.00
254,535.60
<254,535.60>
-100
Total Variable Water Costs
10,520,000.00
6,752,446.06
3,767,553.94
36
TOTAL OPERATING EXPENSE
24,186,470.00
13,962,221.89
10,224,248.11
42
NON - OPERATING EXPENSE
Other Expense
955 Security Vulnerability
Interest Exp on Long -term Debt
Total Non- operating Expense
0.00 99,086.39 <99,086.39> -100
0.00 0.00 0.00 -100
0.00 309,318.77 <309,318.77> -100
0.00
Total Expenses 24,186,470.00
RUN DATE /TIME: 16:04:27 03 Apr 2008 REPORT ID: comexp07
408,405.16 <408,405.16> -100
14,370,627.05 9,815,842.95 41
FUND 1
Schedule of Combined Expenses
01 -31 -08
ANNUAL CURR YR VARIANCE VAR
BUDGET Y -T -D Y -T -D %
--------- - - - - --
---------------
PERSONNEL SERVICES
Salaries Unit
1,775,919.34
3,168,005.00
1,330,954.89
1,837,050.11
58
Salaries SC
39
978,970.00
334,547.64
644,422.36
66
Salaries Management
675,340.00
326,167.18
349,172.82
52
Salaries Other
405,255.67
0.00
0.00
0.00
-100
Fees Directors
29,815.00
54,145.00
19,345.57
34,799.43
64
Fringe Benefits
Unit
1,424,600.00
522,402.60
902,197.40
63
Fringe Benefits
SC
340,350.00
122,700.34
217,649.66
64
Fringe Benefits
Management
195,455.00
81,819.33
113,635.67
58
Fringe Benefits
Directors
24,340.00
11,719.40
12,620.60
52
Fringe Benefits
Other
131,765.00
83,380.34
48,384.66
37
Total Personnel Services
6,992,970.00
2,833,037.29
4,159,932.71
59
Depreciation
Total Depreciation
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
2,933,300.00
1,775,919.34
1,157,380.66
39
2,933,300.00
1,775,919.34
1,157,380.66
39
0.00
0.00
0.00
-100
283,990.00
97,944.18
186,045.82
66
769,255.00
363,999.33
405,255.67
53
199,925.00
38,371.61
161,553.39
81
29,815.00
18,726.53
11,088.47
37
0.00
0.00
0.00
-100
36,690.00
24,965.02
11,724.98
32
299,780.00
192,945.84
106,834.16
36
0.00
0.00
0.00
-100
630,170.00
533,598.97
96,571.03
15
143,540.00
40,813.82
102,726.18
72
52,495.00
18,146.17
34,348.83
65
6,145.00
3,257.41
2,887.59
47
810,735.00
151,086.77
659,648.23
81
80,575.00
26,735.38
53,839.62
67
55,830.00
37,516.42
18,313.58
33
16,350.00
0.00
16,350.00
100
990.00
0.00
990.00
100
45,760.00
20,401.83
25,358.17
55
278,155.00
182,815.23
95,339.77
34
0.00
0.00
0.00
-100
0.00
0.00
0.00
-100
FUND 1
Schedule of Combined Expenses
01 -31 -08
ANNUAL CURR YR VARIANCE VAR
BUDGET Y -T -D Y -T -D %
- -- - - - - - --
Total Services & supplies 3,740,200.00 1,751,324.51 1,988,875.49 53
TOTAL OPERATING EXPENSE
NON - OPERATING EXPENSE
Other Expense
955 Security Vulnerability
Interest Exp on Long -term Debt
Total Non - operating Expense
24,186,470.00 12,609,886.45 11,576,583.55 48
0.00
0.00
0.00
0.00
95,549.93 <95,549.93> -100
0.00 0.00 -100
270,808.14 <270,808.14> -100
366,358.07 <366,358.07> -100
Total Expenses 24,186,470.00 12,976,244.52 11,210,225.48 46
RUN DATE /TIME: 16:08:56 03 Apr 2008 REPORT ID: comexp07
FUND 1
Schedule
of Combined Expenses
01 -31 -08
ANNUAL
CURR YR
VARIANCE
VAR
BUDGET
Y -T -D
Y -T -D
k
VARIABLE WATER COSTS
Fuel & Power Pumping
1,312,000.00
752,287.10
559,712.90
43
Ground Water Replenishment
3,408,000.00
1,935,745.49
1,472,254.51
43
Purchased Water
5,800,000.00
3,338,147.39
2,461,852.61
42
Readiness /Connection Charge
0.00
223,425.33
<223,425.33>
-100
Total Variable Water Costs
10,520,000.00
6,249,605.31
4,270,394.69
41
TOTAL OPERATING EXPENSE
NON - OPERATING EXPENSE
Other Expense
955 Security Vulnerability
Interest Exp on Long -term Debt
Total Non - operating Expense
24,186,470.00 12,609,886.45 11,576,583.55 48
0.00
0.00
0.00
0.00
95,549.93 <95,549.93> -100
0.00 0.00 -100
270,808.14 <270,808.14> -100
366,358.07 <366,358.07> -100
Total Expenses 24,186,470.00 12,976,244.52 11,210,225.48 46
RUN DATE /TIME: 16:08:56 03 Apr 2008 REPORT ID: comexp07