Agenda - Council - 02/13/2001 - Laserfiche WebLink

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for these funds on the full accrual method which means recognizing total depreciation, wh4ther. on City or developer installed systems. This is what staff has attempted to do in proposed 2001 Enterprise Fund Budgets. The estimated total revenues for 2001 on~i~i~h~'' Water'~&~- Utility Fund will be approximately $609,168 which includes interest earning~:76f $120,000. Residents will be charged $2 l:90/quarter for water sales in 2001 a 5% increase 6~er:~'theSooo rate of $20.85. The rate increase will offset the additional expenditures for th~:d~&~ion of'~-i~eeond water tower and well #5. Expenditures area estimated to be at $490;73.6 which in~bs~. depreciation (non-cash) of $227,73. This results in a budgeted opemting:'~n~bme for 2001'~(~!!'~,: $118,43_ and would increase the retained earmngs accordingly. ~e'e~mated total revenues for 2001 on the Sewer Utilitv Fund will be $594,560 which includes:¢iSte~'e~':'~arnings of $40,000. These revenues projections incorporate a rate increase effecti,,;~:j~huary 1, 5_'601 of 2 percent with rates increasing from $56.93/quarter per residential $58.07 ~per..~quarter. Expenditures are estimated to be at $543,509 which includes depre~i~:5~.(non-cash)':~$! 88,00. Tiffs results in a budgeted operating profit of $51,051, which to slow!Y!-ffe'ategse the deficit in retained earnings. The Street Light Utility Fund Was esfg¢~she~4:::!g~'in"I'592 and meant to account for billings to property owners and payment of electrickl',serVice charges for subdivision street lights that are required in ail new urban subdivisions. ~)~hg. 1997 the. City Council approved the installation of additiona~!.priority. The amount inco~0d!t~d i~f~i:~his budget is based on $4.80 per year for each r,e. sid~tiat property. The associated ~0~i§~lude the cost of operation and maintenance as welt`as !del~34a~-at~i~a'n: 4t is anticipated that-td~ai revenues for 2001 will be approximately $87,022~Which.".~cludek~'~¢{&~t. ecrnings of $~';360. Expenditures are estimated to be at $61,590 w~bfi inclu~ .depreciation':~(nbii'&Sh).6~f $13,740. With the closure of the landfill in 1993, the pfimaw ~n~i,~k.sourcez.~/*~e cu;¢'~i~e:;~ecycling pro,am w~ lost. A rate of $3.05 per qua~er was adopte~at th~'~A~gust 2~::"1994 Council meeting, with an effective date be~nning with the first qua~-6~_~995. It is anticipated that total revenues will be approximately $1G0,605 ma:include Coun¢~ts of $31,000 and estimated interest earnings of $500. These_revenues p[0jection also ifiC~6~grTfite rate increase from $4.98/qua~er to $5.34/qu~e~:~hat were ado~ on December':i4¢~3p99 and charged to residents for the periods of 2000-and. 2001. Expenditures are estim[[e8~' to be $153,2000 and include the costs to admihister th~curb side r~Y;l~g prp~m.:~d':~o cle~-up days during 2001. ~is activity, as proposed resui'ts."in an ~eask in~e~mmings of $7,405. it is anticipated that total revenues for 2001 for the St0m Water Utility ~'d will be $336,000 which ~cludes interest earnings of ~-:-~/~:~$~,b00. ~ ~is Fund'.'w~ created in 2000 to maintain drainage problems t~oughout the CiW. ¢~_~3:-~-~:E~bn~s are estimated toCbe at $324,970 w~ch includes depreciation (non-cash) of $183,615.'.}~is results in'a budgeted operating profit of $11,030. It was noted that tbs budget represents '~P~ating" ~xpeffdimres o~y. ~e total costs of the sto~ utili~ projects are capitalized and ~Xpensed'y~arly Under the depreciation line item. Motion by Mayor Gamec, seconded by Councilmember Zimme~an to reco~end that CiW Council adopf Resolution ~01-01-~ Adopting the 2001 Ente¢fise Fund Budgets. Motion-ca, ed. Voting Yes: Mayor Gamec, Councilmembers Zi~e~an, Anderson, Hend~sen, and Kurak. Voting No: None. -00- Finance Committee/January 23, 2001 Page 2 of 5 I I I I I