Page 307 - Watauga FY21 Budget

Drainage Utility Fund
Multi-Year Financial Plan

Year 1 Year 2 Year 3 Year 4 Year 5
Budget Projected Projected Projected Projected
2020-21 2021-22 2022-23 2023-24 2024-25
BEGINNING WORKING CAPITAL 3,337,662 1,703,970 391,338 154,668 152,954

REVENUES
Drainage Fees 1,470,000 1,484,248 1,484,908 1,486,228 1,486,228
Penalties - - - - -
Interest Income 35,000 17,125 3,933 1,083 1,071
Total Revenues 1,505,000 1,501,373 1,488,841 1,487,311 1,487,299
EXPENSES
Operating Expenses (736,495) (743,860) (751,299) (758,812) (766,400)

Transfers to Other Funds (73,500) (74,212) (74,212) (74,212) (74,212)

Total Expenses (809,995) (818,072) (825,511) (833,024) (840,612)

Recommended Reserves per Policy (147,299) (148,772) (150,260) (151,762) (153,280)
20%
Available for Supplemental 695,005 683,301 663,330 654,287 646,687

Remaining Supplemental 695,005 683,301 663,330 654,287 646,687
Additional Available for Capital 3,190,363 1,555,198 241,078 2,905 (326)
Total Available for Capital 3,885,368 2,238,499 904,408 657,192 646,361

Capital Projects A B (2,328,697) C (1,995,933) D (900,000) E (656,000) F (200,000)
Remaining Funds Available 1,556,671 242,566 4,408 1,192 446,361

ENDING WORKING CAPITAL 1,703,970 391,338 154,668 152,954 599,641

Rates
Drainage Rate $11.00 $11.00 $11.00 $11.00 $11.00

Staffing Variable:
Full-time positions 6.50 6.50 6.50 6.50 6.50
Part-time positions 1.0 1.0 1.0 1.0 1.0

Capital Projects

A. Whitley Road PHASE II&4, Channel Protection
B. Whitley Road PHASE II,III,4, Bunker Hill Design, Channel Protection, Blue Green Grey Project, Drainage Master Plan
C. Bunker Hill Project, Astor Heights Design
D. Astor Heights - $1.556 million - Begin Project - Fund remainder in FY203-24
E. Complete Astor Heights Project, Determine funding of Sunny Brook South - $7,801 milion
F. Drainage Master Plan update, Determine future project priorities

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