Page 312 - Southlake FY22 Budget

UTILITY FUnD EXPEnDITUrES
UTILITY FUND

2022 Proposed and 2021 Revised Budget 02:54 PM
uTiliTy fund 08/09/21

$ Increase/ $ Increase/
2020 2021 2021 (Decrease) % Increase/ 2022 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
Adopted
REVENUES
Miscellaneous $166,794 $94,500 $72,500 ($22,000) 0.0% $84,500 ($10,000) 0.0%
Interest Income 272,581 125,000 45,000 (80,000) -64.0% 47,500 (77,500) -62.0%
Water Sales-residential 16,100,190 14,995,100 16,203,841 1,208,741 8.1% 16,378,300 1,383,200 9.2%
Water Sales-commercial 4,711,513 4,520,400 4,709,900 189,500 4.2% 4,804,100 283,700 6.3%
Sewer Sales 8,456,203 8,250,000 8,351,000 101,000 1.2% 8,410,000 160,000 1.9%
Sanitation Sales 2,428,588 2,413,000 2,440,000 27,000 1.1% 2,483,000 70,000 2.9%
Other utility charges 408,055 395,800 280,800 (115,000) -29.1% 400,800 5,000 1.3%
Total Revenues $32,543,924 $30,793,800 $32,103,041 $1,309,241 4.3% $32,608,200 $1,814,400 5.9%

EXPENSES
Debt Service 4,186,761 3,898,426 3,898,426 0 0.0% 3,329,147 (569,279) -14.6%
Utility Billing 600,934 622,370 621,570 (800) -0.1% 641,218 18,848 3.0%
Water 11,720,168 13,346,930 13,346,930 0 0.0% 14,335,272 988,342 7.4%
Wastewater 5,492,187 6,082,494 6,082,494 (0) 0.0% 6,251,541 169,047 2.8%
Sanitation 1,849,418 1,855,200 1,974,000 118,800 6.4% 1,977,600 122,400 6.6%
Total Expenses $23,849,468 $25,805,420 $25,923,420 $118,000 0.5% $26,534,778 $729,358 2.8%

Net Revenues $8,694,456 $4,988,380 $6,179,621 $1,191,241 $6,073,422 $1,085,042

Transfers In $0 $0 $0 $0
Transfers Out (1,234,945) (2,331,752) (2,384,122) 52,370 (9,432,328)
Total Other Sources (Uses) ($1,234,945) ($2,331,752) ($2,384,122) ($9,432,328)

Beginning working capital $13,064,160 $20,523,671 $20,523,671 $24,319,170
Ending fund balance $20,523,671 $23,180,299 $24,319,170 $20,960,264
No. of days working capital 314 328 342 288

fy 2022 highlighTs:

• The Utility Fund revenues are projected at $32,608,200 for an increase of $1,814,400. This is a 5.9% increase when
compared with the FY 2021 Adopted Budget.

• Personnel: The Utility Fund includes resources needed to manage and operate the City’s utility system. This fund
will cover its portion of employee pay adjustments and the increases in benefit costs as described in the General
Fund portion of the Transmittal Letter.

• Other expenditures: Funding has been requested for equipment and facility improvements including the annual
meter replacement ($239,000), LTE water meter transponders ($400,000), and enterprise asset management
software ($120,000), which is half funded by the Technology Infrastructure and Security Fund.

• The FY 2022 Adopted Utility Fund budget provides 288 days of working capital. This exceeds the City’s fund
balance policy for the Utility Fund, which states that the “…goal shall be to maintain a fund balance of 60 days of
working capital in the Utility Fund…with the optimum goal of 90 days of working capital.”

BUDGET BOOK | FY 2022 City of Southlake 311
WWW.CITYOFSOUTHLAKE.COM