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ADOPTED | BUDGET

Utility Fund FY 2022/2023 Adopted Budget

Revenues / Resources

The FY 2022/2023 adopted revenues in the Utility Fund are $41,429,302. This is an increase from
the FY 2021/2022 Adopted Budget by $1,967,979 or 5.0%. Below are the revenue highlights.

 $157,071 increase in Sewer Treatment Charges due to an increase in the sewer pass
through rate.
 $364,476 increase in Water Charges due to an increase in the water pass through rate.
 $123,600 increase in the Joint Use Reimbursement charge to the City of Watauga.
 ($38,500) decrease in interest income based on estimated cash on hand that will be
available for investing.
 $1,418,872 increase in Appropriation of Fund Balance to balance the fund.
 $20,345 increase in revenues which consists of the following
o $20,345 increase included for Bond Proceeds Revenue for the CIP Project Manager.

Expenditures

The FY 2022/2023 adopted expenditures in the Utility Fund are $41,429,302. This is an increase
from the FY 2021/2022 Adopted Budget of $1,967,979 or 5.0%. Below are the expenditure
highlights.

 $914,573 increase in purchase of water due to an increase in rates charged by the city’s
water service providers.
 $319,402 increase in sewer treatment costs due to an increase in rates charged by the
city’s sewer treatment providers.
 $795,000 increase in Transfer to Capital Projects Fund.
 $496,134 increase in Debt Service.
 ($776,331) decrease in Planned Contribution to Fund Balance. In the upcoming year, there
was not an excess of revenues over expenses to establish this contribution.
 $516,115 increase in expenditures which consists of the following:
o $309,141 increase included for the FY 2022/2023 market/merit adjustment.
o $48,940 the fund allocation for one full time Engineer Associate
o $88,936 the fund allocation for one full time HVAC Technician
o $36,178 the fund allocation for one full time Cybersecurity Analyst
o $32,920 the fund allocation for one full time Fire Mechanic/Technician

Balance

The adopted budget for FY 2022/2023 reflects an ending balance of $0.

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