Page 61 - Pantego FY23 Budget

WATER AND SEWER FUND

The Water and Sewer enterprise fund receives all revenue through monthly

customer billings. Expenses of the Water and Sewer fund include all activities
necessary to provide water and wastewater service to the residents of Pantego.
The Water and Sewer Fund is divided into four (4) separate funds.

Water and Sewer Operating Fund – This fund is the general operating
fund for the Water and Sewer Fund. All operating revenues for the sale of

water and sewer charges are recognized in this fund. Payments are made
from this for the general operation and maintenance of the Town’s water
and sewer systems. This fund is divided into two (2) departments: Water
Department and Sewer Department.

Sewer Construction Fund – The purpose of this fund is to account for

transfers from the Water and Sewer Operating Fund to be used for general
or emergency repairs and sewer projects not identified or funded by the
Water Infrastructure Fund.

2019 C/O Projects Fund – This fund was created to track the projects
funded by the Town's Issuance of Certificates of Obligation in the Spring of

2019.

Water Infrastructure Fund – This fund was created in Fiscal Year 2011-
2012 by the Town Council based on the advice of the Town’s Water and
Sewer Ad-hoc Committee. The objective of the fund is to generate
revenue from water customers by applying a specific charge based on

water consumption and use it to pay for water improvement projects.

ADOPTED BUDGET FY2022-23 TOWNOFPANTEGO.COM/BUDGET PAGE 59