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Metropolitan Wastewater Management Commission
<br />Reserves
<br />OPERATING RESERVE
<br />The Operating Reserve is used to account for the accumulated operating revenues net of
<br />o er
<br />p ations expenditures. The Commission has adopted a policy of maintaining a minimum
<br />'!` : Operating Reserve balance approximately equal to 10% of the adopted operating budget.
<br />For FY 03-04, the proposed Operating Reserve budget includes components for operations,
<br />maintenance, administration and equipment replacement reserve contributions, as well as an
<br />amount dedicated to continue funding the Capital and Equipment Replacement Reserves. The
<br />amount of the Operating Reserve on June 30, 2004 is proposed at $1,014,320 which
<br />approximates the 10% operating reserve target. Additional budget detail for the Operating
<br />Reserve is provided below.
<br />Adopted Amended Adopted
<br />Budget Budget Budget
<br />FY 02-03 FY 02-03 FY 03-04
<br />OPERATING RESERVE
<br />Beginning Balance $1,427,327 $1,221,746 $451,870
<br />User Revenue 11,200,000 11,200,000 11,265,000
<br />Septage Revenue 0 0 377,000
<br />Other Revenue 282,960 282,960 277,765
<br />Interest 43,400 43,400 23,600
<br />Expenditures (9,618,674) (9,994,701) (10,149,817)
<br />Transfer to Reserves (2,343,581) (2,343,581) (1,231,098)
<br />Ending Balance $991,432 $409,824 $1,014,320
<br />EI~IBIT 10
<br />REGIONAL WASTEWATER PROGRAM
<br />RESERVES -LINE ITEM BUDGET
<br />RESERVES
<br />WORKING CAPITAL
<br />Eugene
<br />Springfield
<br />CAPITAL RESERVES
<br />Capital Improvement Projects
<br />Equipment Replacement
<br />SDC RESERVE
<br />OPERATING RESERVE
<br />RATE STABILITY RESERVE
<br />TOTAL RESERVES
<br />Adopted Amended Adopted
<br />Budget Budget Budget
<br />FY 02-03 FY 02-03 FY 03-04
<br />$500,000 $500,000 $500,000
<br />200,000 200,000 200,000
<br />5,490,756 6,386,306 5,804,440
<br />9,039,714 8,960,240 8,489,497
<br />4,062,603 4,295,859 4,077,070
<br />991,432 409,824 1,014,320
<br />0 0 0
<br />$20,284,505 $20,752,229 $20,085,327
<br />" Page 32 FY 03-04 BUDGET
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