Page 214 - GrapevineFY24 Adopted Budget
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FY 2023-24 APPROVED OPERATING BUDGET
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN NET POSITION
UTILITY ENTERPRISE FUND
2020-21 2021-22 2022-23 2022-23 2023-24
Actual Actual Budget Estimate Approved
BEGINNING UNRESTRICTED NET POSITION: 9,291,209 25,110,358 38,419,997 38,419,997 42,640,357
OPERATING REVENUE:
Water Sales 16,062,329 18,384,738 16,995,000 18,412,592 18,550,000
Wastewater Sales 8,391,822 8,974,247 8,895,000 8,511,010 9,100,000
Tap & Inspection Fees 2,537,656 2,528,582 2,555,000 2,619,491 2,529,000
Reconnects & Transfers 39,353 279,410 160,000 253,625 160,000
Interest Income 19,334 179,309 200,000 1,259,898 200,000
Miscellaneous Income 9,837,096 1,634,997 825,500 1,279,202 975,500
Total Operating Revenue 36,887,590 31,981,283 29,630,500 32,335,818 31,514,500
TRANSFERS IN/CONTRIBUTIONS: 4,261,235 10,894,609 661,919 661,919 659,556
TOTAL REVENUE AND TRANSFERS 41,148,825 42,875,892 30,292,419 32,997,737 32,174,056
OPERATING EXPENDITURES:
Personnel 3,606,570 3,679,558 4,179,063 4,168,923 4,557,647
Supplies 1,170,392 1,394,806 1,492,805 1,087,040 1,694,766
Maintenance 1,558,015 2,553,202 2,376,100 2,229,265 2,554,040
Services 15,868,434 17,767,239 18,292,296 17,470,223 18,541,560
Debt Service - 732,920 664,919 663,589 662,556
Insurance 1,021,385 931,679 1,202,510 1,127,790 1,191,648
Capital Outlay 287,030 420,294 234,665 234,196 16,000
Total Expenditures 23,511,826 27,479,698 28,442,358 26,981,026 29,218,217
TRANSFERS OUT: 1,817,850 2,086,555 1,773,038 1,796,351 2,199,481
TOTAL EXPENDITURES AND TRANSFERS 25,329,676 29,566,253 30,215,396 28,777,377 31,417,698
SURPLUS / (DEFICIT) 15,819,149 13,309,639 77,023 4,220,360 756,358
ENDING UNRESTRICTED NET POSITION: 25,110,358 38,419,997 38,497,020 42,640,357 43,396,715
WORKING CAPITAL REQUIREMENT: 3,761,892 4,396,752 4,550,777 4,316,964 4,674,915
* Working capital requirement is 16% of total net budgeted expenditures or 60 days of operation.
The FY 2023-24 projected Ending Working Capital Balance represents 542 days of operation.
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