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Metropolitan Wastewater Management Commission Budget and Program Summary <br />5. The Capital Reserve Contribution is a budgeted transfer of operating revenues to "sinking funds" <br />(reserves). Capital is passed through the Springfield Administrative Budget. <br />6. The Operating Reserve is used to account for the accumulated operating revenues net of operations <br />expenditures. The Commission has adopted a policy of maintaining a minimum Operating Reserve balance <br />approximately equal to 10% of the adopted operating budget. <br />7. The Rate Stability Reserve contribution is a budgeted transfer of operating revenues to "sinking funds" <br />(reserves) to fund future increases in operating costs. <br />8.. The Working Capital Reserves act as revolving accounts which aze drawn down and replenished on a <br />monthly basis to fund Eugene operations. <br />9. In the FY 01-02 budget, this table reflected two additional lines showing "pass through" budgets for SIW <br />Operations at $431,074, and capital at $300,000. MWMC will no longer receive "operating" revenue from <br />Chiquita in FY 02-03, so SIW site operations costs of $119,736 Personnel Services and $63,938 Materials <br />and Services aze combined with the remainder of the RWP in the FY 02-03 budget. MWMC will continue <br />to receive capital repayment revenue from Chiquita in FY 02-03; however, MWMC has met its bond <br />repayment obligation to the County Service District. Therefore, the "SIW Capital" expenditure budget has <br />been eliminated. <br />Page 11 FY OZ-03 Budget <br />