Page 241 - Grapevine FY20 Approved Budget
P. 241
FY 2019-20 APPROVED OPERATING BUDGET
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
UTILITY ENTERPRISE FUND
2016-17 2017-18 2018-19 2018-19 2019-20
Actual Actual Budget Estimate Approved
BEGINNING WORKING CAPITAL: 14,462,392 17,756,782 22,526,821 22,526,821 25,666,650
OPERATING REVENUE:
Water Sales 14,710,779 16,577,391 15,650,000 14,596,664 15,700,000
Wastewater Sales 8,054,884 8,371,685 8,000,000 8,036,104 8,000,000
Tap & Inspection Fees 164,608 143,010 90,000 151,124 77,000
Reconnects & Transfers 202,962 201,264 215,000 197,916 203,000
Interest Income 175,278 302,191 120,000 259,341 300,000
Miscellaneous Income 945,807 2,260,356 205,000 627,540 200,500
Total Operating Revenue 24,254,317 27,855,897 24,280,000 23,868,689 24,480,500
TRANSFERS IN: 522,974 4,916,263 0 0 0
TOTAL REVENUE AND TRANSFERS 24,777,292 32,772,160 24,280,000 23,868,689 24,480,500
OPERATING EXPENDITURES:
Personnel 3,084,394 3,334,960 3,681,043 3,437,605 3,847,850
Supplies 668,017 684,185 897,085 692,382 890,960
Maintenance 954,294 1,038,031 1,436,900 828,816 1,512,100
Services 12,912,247 14,008,447 13,117,126 11,409,738 13,300,200
Insurance 0 0 949,877 920,619 952,109
Debt Service 10,356 584,747 1,564,244 1,561,955 1,130,569
Capital Outlay 27,287 347,871 228,500 534,301 450,000
Total Expenditures 17,656,595 19,998,241 21,874,775 19,385,416 22,083,788
TRANSFERS OUT:
Transfer to General Fund - Admin Fee 1,826,307 1,919,146 1,821,000 1,243,444 1,865,000
Transfer to Convention & Visitors Fund 0 0 0 100,000 0
Transfer to Economic Development Fund 2,000,000 0 0 0
Transfer to Facility Capital Projects Fund 0 1,000,000 0 0
Transfer to Utility Capital Projects Fund 0 5,084,734 0 0
Total Transfers Out 3,826,307 8,003,880 1,821,000 1,343,444 1,865,000
TOTAL EXPENDITURES AND TRANSFERS 21,482,901 28,002,121 23,695,775 20,728,860 23,948,788
SURPLUS / (DEFICIT) 3,294,390 4,770,039 584,225 3,139,829 531,712
ENDING WORKING CAPITAL: 17,756,782 22,526,821 23,111,046 25,666,650 26,198,362
FUND BALANCE REQUIREMENT: 2,902,454 3,287,382 3,595,853 3,186,644 3,630,212
* Fund balance requirement is 16% of total net budgeted expenses or 60 days of operation.
The FY 2018-19 projected Ending Working Capital Balance represents 141 days of operation.
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