Page 305 - Watauga FY21 Budget

Water and Wastewater
Multi-Year Financial Plan

Year 1 Year 2 Year 3 Year 4 Year 5
Base Year Budget Projected Projected Projected Projected
2020-2021 2021-2022 2022-2023 2023-2024 2024-2025
BEGINNING BALANCE 1,513,398 * 1,581,471 1,594,923 1,917,183 1,924,550
REVENUES
Water Service 4,745,000 4,934,800 5,033,496 5,234,836 5,339,533
Wastewater Service 3,780,000 3,969,000 4,048,380 4,250,799 4,293,307
Proposed Increase in Revenues 4% 2% 4% 2%
Service Charges 65,000 66,300 67,626 68,979 68,979
EPA Fees 157,000 160,140 163,343 166,610 166,610
Penalties 205,000 205,000 205,000 209,100 213,282
Miscellaneous 14,000 65,000 66,950 68,959 71,027
Interest Income/Transfers In JUF 60,000 60,000 60,600 61,206 61,818
Total Revenues 9,026,000 9,460,240 9,645,395 10,060,488 10,214,555

EXPENSES
Utility Billing (524,860) (527,484) (530,122) (532,772) (535,436)
Non-Departmental - Operating (706,830) (768,714) (832,657) (898,723) (841,314)
Information Technology (95,080) (95,555) (96,033) (96,513) (96,513)
Administration (153,750) (154,519) (155,291) (156,068) (156,848)
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Water Distribution (2,860,390) (2,970,942) (3,043,734) (3,118,628) (3,195,687)
Sewer Collection (2,439,017) (2,501,212) (2,523,818) (2,546,638) (2,569,674)
Transfers - Capital - - - -
Transfers - JUF (60,000) (60,000) (60,000) (60,000) (60,000)
G&A/Franchise Fee (430,000) (470,012) (479,240) (499,964) (507,637)
W&WW Debt (1,599,000) (1,861,350) (1,862,951) (2,143,813) (2,141,357)
Non-Departmental - Operating - - - - -
Operating Expenses (8,868,927) (9,409,788) (9,583,846) (10,053,121) (10,104,468)
Capital Expenses (carryover) - - - - -
Total Expenses (8,868,927) (9,409,788) (9,583,846) (10,053,121) (10,104,468)
Recommended Reserves per Policy (2,217,232) * (2,352,447) (2,395,962) (2,513,280) (2,526,117)
Available for Supplemental Current Year 157,073 50,452 61,548 7,367 110,087
Proposed Supplemental - - - - -
Remaining Supplemental 157,073 50,452 61,548 7,367 110,087
Additional Available for Capital w/ Fund bal requirements (703,834) (770,976) (801,039) (596,097) (601,567)
Total Available for Capital* (546,761) (720,524) (739,490) (588,730) (491,480)
Proposed Equip Repl/Capital (1) (89,000) (37,000) - - (50,000)
Remaining Funds Available (635,761) (757,524) (739,490) (588,730) (541,480)
ENDING FUND BALANCE 1,581,471 * 1,594,923 1,917,183 1,924,550 1,984,637
% of operating 18% 17% 20% 19% 20%
Staffing Variable
Full-time Positions (2) 20.75 22.75 22.75 22.75 22.75
Part-time positions 0.00 0.00 0.00 0.00 0.00
(1) Proposed Capital will only be funded if excess reserves are available.
*Fund balance in recovery mode since FY2015-16 and debt issuance was delayed until FY2018-19 to allow for fund balance recovery

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