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The Enterprise Emergency Reserve has a balance of $2,450,000. The Enterprise Fund
Emergency Reserve needs to be sufficient to operate the Water Department for three
months. These funds would only be used in an emergency and only with Council
approval.

The debt service for outstanding revenue bonds is $170,645 with $150,000 for principal
and $20,645 for interest expense and paying agent fees.

CONCLUSION

I want to thank the Mayor and City Council for their guidance and decisions made during
the budget work sessions. I appreciate their cooperation to fund and improve the level of
services for the City. I believe this budget establishes a sound plan of municipal services
and is a very informative document for all of our residents.

Respectfully submitted,

Gabe Reaume
City Manager

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