FY 2001-02 Regional Wastewater Program Budget

New Search

Metropolitan Wastewater Management Commission Reserves RATE STABILITY RESERVE The Rate Stability Reserve is necessary to implement the Commission's policy to have stable _, rates. It is intended to hold revenues in excess of current year's operating and capital requirements. It will be used to support increasing operating and capital requirements through 5- T e amount of the Rate Stability Reserve on June 30, 2002 is proposed to be ~ $443,000. ', ~' Adopted Amended Proposed Budget Budget Budget i FY 00-01 FY 00-01 FY 01-02 - ; RATE STABILITY RESERVE Beginning Balance $0 $0 $0 Xfr From Operating Reserve 0 0 443,000 Xfr to Operating Reserve 0 0 0 Ending Balance $0 $0 $443,000 OPERATING RESERVE ' The Operating Reserve is used to account for the accumulated operating revenues net of - ; .operations expenditures. The Commission has adopted a policy of maintaining. a minimum Operating Reserve balance approximately equal to 10% of the adopted operating budget. For FY 01-02, the proposed operating reserve budget includes components for operations, maintenance, administration and equipment replacement reserve contributions, as well as an °' amount dedicated to continue funding the Capital and Equipment Replacement Reserves. The .- ; amount of the Operating Reserve on June 30, 2002 is proposed at $918,390 which approximates the 10% operating reserve target. Additional budget detail for the Operating Reserve is provided below. 1, Adopted Amended Proposed Budget Budget Budget FY 00-01 FY 00-01 FY 01-02 ~. OPERATING RESERVE -- 'Beginning Balance $1,450,859 $1,706,823 $925,818 __ User Revenue 11,881,381 12,131,381 12,131,079 Other Revenue 340,991 340,991 332,550 - Interest 50,000 50,000- 55,000 Expenditures (9,268,360) (9,384,045) (9,435,557) Xfer to Reserves (3,624,567) (4,020,531) (3,090,500) Ending Balance $830,304 $824,619 $918,390 ( -, Page 33 FY 01-02 Budget i