08192008 Regular Meeting - Laserfiche WebLink

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Water/Wastewater Utility Fund The budgeted revenues for this fund are budgeted at nearly $25.3 Million. Charges from current services comprise approximately 95.52% of the total budgeted revenues for the year. The Water/Wastewater Utility Fund receives approximately $709,356 per year in other revenue sources such as water taps and debt service reimbursements from the Guadalupe-Blanco River Authority. Seventy five percent of the annual revenues realized are for sales of services from October 2007 thru June 2008. This is a great indicator we are on target to meet budgeted revenues. Budgeted expenditures for the Water/Wastewater Utility Fund are approximately $31 Million. A management decision was made during the 2008 budget process to spend some of the City's Fund Balance Reserves through a one-time operating expenditure of $7.6 Million. The San Marcos Water/Wastewater Utility has expended 43.37% of its total annual budgeted expenditures for the year or $13.5 Million. The largest expenditure category for this Fund stems from expenses related to Capital Outlay and Debt Service payments. These two line items comprise approximately 50.56% of the total FY 2008 Budget or $15.7 Million. Debt Service expenditures occur in February and August each year. Budgeted personnel expenditures only comprise 17.02% of the total operating budget for the Water/Wastewater Utility Fund because a large portion of utility services are provided through a private contractor. Electric Utility Fund The anticipated revenues for this fund are budgeted at $52.6 Million. Charges from current services comprise approximately 97.3% of the total budgeted revenues for the year. The Electric Utility Fund is reimbursed by the Water Fund $750,000 per year for providing services related to Meter Reading and Utility Billing. Other Revenue is estimated at $189,416 for the year. The Electric Utility already realized approximately 62.8% of its total operating revenues for the year which is a strong financial indicator for the utility. The Electric Utility Fund has established the Fiscal Year 2008 budgeted expenditures at approximately $51.5 Million. The San Marcos Electric Utility has expended 64.82% of its annual budgeted operating expenditures for the year or $31.5 Million. The majority of these expenditures are attributable to the purchase of electricity which is found in the contracted services line-item. Year-to-Date contracted services expenditures are currently at $24.7 Million. Drainage Utility Fund The anticipated revenues for this fund are predicted to exceed $1.29 Million. This revenue shortfall stems from a management decision to spend some of the City's Fund Balance Reserves through a one-time operating expenditure of $150,000. This management decision was approved during the FY 2008 annual budget process. The Drainage Utility Fund has already realized approximately 82.0% of its total budget revenue for the year which is a strong financial indicator for the utility. The Drainage Utility Fund has established the Fiscal Year 2008 budgeted expenditures at $1.38 Million. The San Marcos Drainage Utility has expended 62.12% of its annual budgeted operating expenditures for the year or $352,043. One of the largest expenditure category for this fund stems • • t