CCP 11-13-2007 - Laserfiche WebLink

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Expenses are 75.2% of the total budget, while last year they were 70.5% at this time. Sewer Fund 10. At the end of the third quarter, revenues from operations are $1,482,876 compared to $1,382,3861ast year. Expenses are 75.5% of the total budget, while last year they were 74.0% at this time. The accounting for the Sump Pump Program has been moved from the Sewer Operating Fund (enterprise fund) to the Sewer Improvements Fund (capital projects fund) resulting in an unanticipated transfer out of $84,300. The 2007 Utility Rate Study recognized that the Sump Pump Program would be accounted for in another fund but financed by the Sewer Fund. Even though the transfer was not budgeted in the 2007 budget, it is consistent with the long-term financial plans for the Sewer Fund. Stormwater Fund 11. Operating revenues are ahead of last year as a result of the increase in rates. Revenues are $618,440 for the third quarter 2007 compared to $568,207 for 2006. Year-to-date expenses are 75.3% of the total budget. Current year-end projections indicate that the Stormwater Fund will have revenues in excess of expenses as budgeted. As a result, the fund will have a positive cash balance for the first time since the year ending December 31, 2000. Street LiSht Fund 12. Revenues are $106,708 (68.4% of total budgeted revenues) for 2007 compared to $95,988 for 2006. Expenses are only 55.2% of the total budgeted. Expenses are expected to come in under budget for the year. As a result the net revenues over expenses is projected to be better than budget by about $19,000, The fund did have a deficit cash balance of ($33,600) at the end of 2006. ~ , Golf Course Fund . _ ,. 13. Revenues are $276,597 compared to $270,3041ast year.. This is an increase of 2.3%. Normally. the Colf.. _ _ Course .does not realize much more revenue for;the year; during the fourth quarter. Expenditures:are~ . ~- . . 58.3% of the total budget, while they were 59:6% a year ago. 2007 year-end projections indicate a?net loss of about $38,000 compared to the budgeted loss of $27,100. ~~ Dan Maiers Finance Director