Town of Yountville
Staff Report
6550 Yount Street
Yountville, CA 94599
Agenda Item #: 11A
Yountville Town Council Staff Report
DATE: December 3, 2024
TO: Mayor and Town Council
FROM: Celia King, Administrative Services Director; Kyle Batista, Financial Analyst PREPARED BY: Celia King, Administrative Services Director; Kyle Batista, Financial Analyst RECOMMENDATION:
Adopt Resolution Number 24-4325 receiving the Year End Financial Report for fiscal year 2023/2024 and approving budget adjustments assigning the available General Fund unassigned fund balance in the fiscal year 2024/2025 budget.
DISCUSSION/BACKGROUND
The Finance Department has recorded all transactions and activities for Fiscal Year (FY) 2023/2024 and staff presents this report as a Year End Financial Report annually. The following report is for review, analysis, and decision of the Town Council regarding potential allocation of the unassigned fund balance in the General Fund as of June 30, 2024. The audit work has been completed and no additional adjustment will occur. The Annual Comprehensive Financial Report (ACFR) was presented to the Town Council during the December 3, 2024, Town Council Meeting. This report is supported by the ACFR.
The Town’s fiscal condition remains stable. General Fund revenue collections were more than anticipated. Town staff managed operating expenditures and remained under of within budget.
This report focuses on the details and status of the Town’s General Fund, and provides year-end financial information on the Town’s other major funds; Capital Projects Fund, Water Utility Enterprise Funds & Wastewater Utility Enterprise Funds.
The General Fund revenues received for FY 2023/2024 totaled $15,579,835 which was $1,859,373 more than the estimated budget. Below is a brief overview of the major revenues and their performance. Property Taxes – The budget for Property Tax revenue was $2,431,280. Actual revenue collections slightly exceeded this budget amount by $27,111. Property tax revenue includes excess ERAF (Educational Revenue Augmentation Fund). Napa County is one of three counties in the state for which ERAF (the property tax shift from counties, cities, and special districts to the schools) is “over funded,” according to state funding formulas. This results in a “refund” of the excess revenue back to the Town.
The excess ERAF funds are subject to state approval and not included in the Town’s budget projections due to its variability.
Sales Tax – The original budget for sales tax revenue was $1,695,000. Sales tax revenue collected by the Town was as expected as actual collections slightly exceeded this estimate by $17,773, or 1%. Other Taxes - Other Taxes include cable franchise tax and real property transfer tax. Revenues received in Fiscal Year 2023/2024 totaled $181,051. This was a 10.4% increase from the originally budgeted amount. Franchise tax is a declining revenue source as users slowly move away from traditional cable service. Property transfer tax revenue is transaction based. The number of real property sales and the amount of each sale determines the amount of the transfer tax assessed. ▪ Transient Occupancy Tax (TOT) - The Town, with 453 revenue generating hotel rooms, received a total of $8,924,671 in TOT. The original budget of $7,775,000 was increased to $8,000,000 mid-year and actual collections exceeded adjusted budget by $924,671 or about 11.6%. The average occupancy rate for the year was 62%, up from the 55% occupancy rate in the prior fiscal year. Average room rates were $706, down from $784 in 2022/2023.
▪ Other Revenues – All other revenue types - Charges for Services, Licenses & Permits, Fines & Forfeitures, Rents & Concessions, and Parks & Recreation Fees - came in higher than anticipated.
Investment Earnings revenue was higher than expected due to positive Local Agency Investment Fund (LAIF) investment rates and the required Governmental Accounting Standards Board (GASB) audit entry to report all unrealized investments at Fair Market Value.
Fiscal Year 2023/2024 expenditures (before transfers) totaled $10,725,199 which was $1,329,092, or 11%, lower than the estimated budget. Fiscal Year 2023/2024 transfers out of General Fund totaled $8,734,150. The majority of this amount was for the purchase of the former Yountville Elementary School site. Additional transfers out included other Council-approved items such as paying downtown debt and increasing the Town’s Facility Reserves and Fleet and Equipment Reserves.
Below are the effects of Fiscal Year 2023/2024 revenue and expenditure activity on the General Fund Balance:
Beginning Balance on July 1, 2023 8,309,065
Plus revenues and transfers in 15,594,831
Less expenditures and transfers out 19,459,349
Ending Balance on June 30, 2024 $4,444,547
On June 30, 2024, the total General Fund Balance was $4,444,547. This amount is used to fulfill all the adopted reserve allocations as outlined below, for the following fiscal year (2024/2025):
Nonspendable 123,398
Committed for Insurance and Claims Retention 50,000
Assigned for Interest Income – FV Adjustment (GASB 34) 255,408 Assigned for Budget & Legal Contingencies 657,793
Assigned for Leave Buy Out 160,000
Assigned for Purchase Orders 200,000
Assigned for Workers Compensation 20,000
Total Allocations: $1,466,599
Applying the above adopted allocations leaves $2,977,948 as Unassigned Fund Balance. This is the result of revenues being higher than expected, lower than anticipated expenditures, and the changes in and use of approved fund balance allocations from one fiscal year to the next. Recommendations for re-allocation of this unassigned fund balance are included at the end of this staff report.
Capital Projects Fund
Though the financial report that accompanies this staff report reflects project budgets and expenditures from all project funds, only Capital Projects Fund 50 is considered one of the Town’s major funds, therefore the following analysis will focus on this fund.
The nature of a capital project may cause projects to span multiple fiscal years. The FY 2023/2024 budget for Capital Projects Fund (50) expenditures and transfers was $13,932,399 which includes project purchase orders that were carried forward from Fiscal Year 2022/2023. Total expenditures and transfers were $12,094,540 and $314,780 in purchase orders for unfinished projects were rolled forward into Fiscal Year 2024/2025. This expenditure amount is much larger than prior years due to the Town’s acquisition of the former Yountville Elementary School property in April 2024. The purchase of this new asset and associated project costs are recorded in Capital Projects Fund 50. The overall budget savings was $1,523,079. This savings goes back into the fund balance for Fund 50. On June 30, 2024 the Capital Projects Fund balance was $1,903,659.
Water Enterprise Funds
The Drought Reserve Fund (57) ended with a fund balance of $2,082,410 as of June 30, 2024.
Water Utility Capital Fund (60-4500) total revenue including interest was $173,367. Revenues generated from System Replacement fees totaled $148,615 which exceeded budget by 0.7%. Impact Fee revenue generated $6,526 and interest income totaled $18,226.
The Water Utility Capital Fund (60-4500) ended with a positive total fund balance of $3,349,191. Of this amount $400,955 is considered working capital, or in other words, funds available to use for projects. Working capital is calculated by reducing the total fund balance by capital asset values, funds assigned for debt service, and reserve targets.
Fund 61, the aggregate of Water Operations and Distribution (61-4505) and Water Utility Purchases and Conservation (61-4507) ended with a positive fund balance of $732,924. Total revenues were $1,880,799 and were more than budget by about 12.2%. Routine operating, maintenance, and water purchase expenditures totaled $1,528,678, which was $323,725 or about 17.5% under budget. The net of these revenues and expenditures resulted in an increase of fund balance of $352,120.
Wastewater Enterprise Funds
Fund 62, the aggregate of Wastewater Collection Operations (62-4510) and Wastewater Treatment Operations (62-4515) ended with a positive fund balance of $617,158. Total revenues were $2,796,994 and exceeded budget by 9.9%. Total expenditures were $2,569,445, ending the year under budget by $159,305 or 5.8%. The net result of the revenue and expenditure activity is that fund balance increased by $277,549 in Fund 62.
The Wastewater Capital Recovery Fund (63-4518) ended with a positive working capital of $4,116,960. This amount is calculated by reducing the total fund balance by capital asset values, funds assigned for debt service repayment, and reserve targets as set by the Water and Wastewater Utility Rate Study.
The Wastewater Collection Capital Improvement Fund (64-4519) ended with a positive working capital of $335,673. This amount is calculated by reducing the total fund balance by capital asset values, funds assigned for debt service repayment, and reserve targets as set by the Water and Wastewater Utility Rate Study. In turn, the amount in this report is the amount available for capital projects.
The 2022 Water and Wastewater Utility Rate Study was approved in November 2022, and the second of five utility rate increases were implemented on January 1, 2024. An 8.5% increase was applied to water rates and a
5.4% increase was applied to wastewater rates. The next annual increase per the Five-Year Rate Scheduled will be implemented on January 1, 2025. Future utility rate increases will assist the water and wastewater funds in curing deficits, funding projects and operations, and meeting reserve targets.
The Town Council implemented a low-income subsidy program modeled after the Pacific Gas and Electric Care Program, to help mitigate the impact to low-income rate payers. This is a council approved exception to the aforementioned policy and is a maximum $12,000 subsidy from the General Fund to water and wastewater funds ($6,000 each). On June 30, 2024, twenty-one residents were enrolled in the program, and the total expense between the water and wastewater funds in Fiscal Year 2023/2024 was $9,350.
General Fund Unassigned Fund Balance
Staff is providing suggestions for reallocation of the $2,977,948 Unassigned Fund Balance for Town Council discussion and direction. A resolution approving specific allocations is provided for consideration and includes the items below. This will result in budget adjustments for Fiscal Year 2024/2025:
1. Transfer $1,450,000 into General Fund Reserve Fund 07 to increase reserves. This recommendation increases the General Fund Reserve to $6,527,423, or about 54% of an estimated Fiscal Year 2024/2025 General Fund expenditure amount of $11,915,761, which is about 19% more than the policy minimum of 35%.
2. Transfer $1,500,000 into Capital Projects Fund 50 to increase funding available for projects. This recommended transfer would be specifically allocated to the following projects:
a. $1,000,000 to CF-0046 Yountville Commons, increasing the existing $1,000,000 budget to $2,000,000.
b. $200,000 to establish the new Washington Street Corridor project and budget. c. $100,000 to CP-0033 Energy Resiliency Plan, increasing the existing $20,000 budget to $120,000.
d. $100,000 to CF-0022 Community Center Enhancements, increasing the existing $158,000 budget to $258,000.
e. $100,000 to ST-0035 Mobility Plan, increasing the existing $50,000 budget to $150,000.
3. Leave the remaining $27,948 in General Fund Unassigned Fund Balance.
Staff seeks approval of the suggested reallocation of General Fund Unassigned Fund Balance as outlined previously in the report above, or direction as to how the Town Council would like to revise the suggested reallocations.
ENVIRONMENTAL REVIEW
Exempt per California Environmental Act (CEQA) Guideline, Section 15061(b)(3)
FISCAL IMPACT
Is there a Fiscal Impact? Yes
Is it Currently Budgeted? N/A
Where is it Budgeted? N/A
Is it Mandatory or Discretionary? Discretionary
Is there a Staff Resource Impact? Nominal
STRATEGIC PLAN GOAL
Is item Identified in Strategic Plan? Yes
If yes, Identify Strategic Goal and Objective. Responsible Fiscal Policy: The Town maintains its fiscal health through policies designed to maximize economic opportunities, manage expenses, and ensure prudent reserves.
Briefly Explain Relationship to Strategic Plan Goal and Objective.
Informing the Town Council and the community of the Town’s fiscal status at the end of each fiscal year promotes financial transparency. The results of this report may provide the Town Council an opportunity to allocate unassigned fund balance in the current fiscal year, which allows for funding for currently relevant initiatives that were not previously included in the annual budget.
ATTACHMENTS
1. Resolution No. 24-4325
TOWN OF YOUNTVILLE
YEAR END FINANCIAL REPORT
Fiscal year 2023/2024
General Fund Revenues
The following is a summary of General Fund revenue by major category as of June 30, 2024:
Revenues: Budget* Actual Variance % of Budget Note
Property Taxes 2,431,280 2,458,391 27,111 101.1% Note 1 Sales Taxes 1,695,000 1,712,773 17,773 101.0% Note 2
Other Taxes 164,000 181,051 17,051 110.4%
Transient Occupancy Tax 8,000,000 8,924,671 924,671 111.6% Note 3 Investment Earnings 75,000 518,734 443,734 691.6%
Licenses & Permits 155,250 205,225 49,975 132.2%
Fines & Forfeitures 4,000 81,825 77,825 2045.6%
Rents & Concessions 350,197 369,797 19,600 105.6%
Intergovernmental 205,000 210,565 5,565 102.7%
Parks & Recreation Fees 322,550 430,112 107,562 133.3%
Charges for Services 184,600 306,238 121,638 165.9%
Impact Fees - - - 0.0%
Miscellaneous 133,585 180,454 46,869 135.1%
Other Sources - - - 0.0%
Total 13,720,462 15,579,835 1,859,373 113.6%
Transfers: Budget Actual Variance % of Budget Note
Fire Services (Fund 28) - 32 32 0.0%
Tourist Imp. Dist. (Fund 22) 12,958 14,963 2,005 115.5% Total 12,958 14,995 2,037 115.7%
Note 1: The Town usually receives its first large installment of property taxes in December or January and its second large installment in April or May.
Note 2: Sales tax receipts lag 2 ½ - 3 months behind the actual collection period.
Note 3: TOT is due one month after the collection period and received within 30 days after the collection period.
TOWN OF YOUNTVILLE
YEAR END FINANCIAL REPORT
Fiscal year 2023/2024
General Fund Expenditures
The following is a summary of General Fund Expenditures by major category as of June 30, 2024:
Expenditures Budget* Actual Variance % of Budget
Town Council/Mayor 1001 226,858 166,891 (59,967) 73.6%
Non-Departmental 1010 180,251 122,311 (57,941) 67.9%
Town Manager 1101 676,434 544,965 (131,470) 80.6%
Information Technology 1011 - - - 0.0% Note 1
Community Promotion 1015 473,775 432,202 (41,573) 91.2% Finance 1102 822,662 684,976 (137,686) 83.3%
Risk Management 1103 71,150 60,355 (10,795) 84.8%
Town Attorney 1105 351,000 304,458 (46,542) 86.7%
Town Clerk 1110 648,508 484,341 (164,167) 74.7%
Planning & Building 2115 1,414,512 1,231,101 (183,411) 87.0% Law Enforcement Services 3200 1,271,620 1,271,120 (500) 100.0% Fire & Emergency Services 3201 1,148,000 973,789 (174,211) 84.8% Note 2 PW Admin. & Engineering 4301 899,324 789,983 (109,340) 87.8% PW Street Maintenance 4305 460,864 416,321 (44,543) 90.3% PW Park Maintenance 4320 800,827 743,961 (56,866) 92.9% PW Government Bldgs. 4325 674,418 663,720 (10,698) 98.4% Parks & Rec Admin & Services 5405 571,767 552,006 (19,761) 96.5% Parks & Rec Camp Programs 5406 262,182 258,242 (3,940) 98.5% Community Center 5408 364,948 358,926 (6,022) 98.3%
Parks & Rec Leisure Prog. 5410 346,182 288,163 (58,018) 83.2% Parks & Rec Sports Prog. 5412 65,118 63,396 (1,721) 97.4% Parks & Rec Community Events 5413 209,243 182,221 (27,023) 87.1% Yountville Arts 5415 114,648 131,751 17,103 114.9%
Total Expenditures 12,054,291 10,725,199 (1,329,092) 89.0% Transfers Out:
Capital Projects Fund 7950 7,530,075 7,530,075 - 100.0% Facility Replacement Fund 7981 350,000 350,000 - 100.0% Fleet/Equip Replacement Fund 7982 200,000 200,000 - 100.0% Housing Opportunity Fund 7970 73,700 66,300 7,400 90.0% Water Subsidy 7961 6,000 4,675 1,325 77.9%
Wastewater Subsidy 7962 6,000 4,675 1,325 77.9%
2017 Lease Rev. Debt Service 7954 545,000 545,000 - 100.0% 2020 Lease Fin. Debt Service 7955 20,000 20,000 - 100.0% Total Transfers Out: 8,730,775 8,734,150 (3,375) 100.0% Note 1: Allocations of information technology are made to each department so no expenses are shown for program.
Note 2: Payments for Fire & Emergency Services are typically made bi-annually, in January and June. * Budget includes amounts for prior year purchase order rollover and reflects all Fiscal Year 2023/2024 budget adjustments.
TOWN OF YOUNTVILLE
ANNUAL FINANCIAL REPORT
June 30, 2024
CAPITAL PROJECTS
Expenditures Budget * Actual Variance % of Budget
Shade Structure for Community Center/Hall CF-0022 150,000 90,121 59,879 60.1% Enclose BBQ Area for Storage** CF-0024 - - 0.0%
Exterior Painting of Town Hall CF-0032 59,200 59,200 - 100.0% Community Center/Hall HVAC Analysis CF-0033 100,000 100,000 0.0% Replace Community Center/Hall & Post Office Gutters CF-0035 50,000 50,000 0.0% Emergency Geothermal HVAC Repair & Replacement CF-0036 19,753 19,753 - 100.0% Roof Repair Community Park Restroom CF-0037 55,000 12,000 43,000 21.8% Sheriff Office Interior Maintenance & Repairs CF-0038 45,800 12,782 33,018 27.9% Town Hall Landscaping and Access CF-0043 75,000 14,821 60,179 19.8% Bus Shelter Repair CF-0044 44,400 36,730 7,670 82.7%
Yountville Commons CF-0046 11,500,000 11,491,622 8,378 99.9% GIS Mapping Improvements CP-0007 160,000 5,929 154,071 3.7% ADA Accessibility Improvements: Forrester Park/Three Weirs Park CP-0018 121,720 64,043 57,677 52.6% Community Center Restrooms Concrete Counter Replacement CP-0023 30,600 30,600 - 100.0% Installation of EV Charging Stations and Fleet CP-0028 200,000 119,733 80,267 59.9% LATA Broadband Development Feasibility Study CP-0029 102,600 28,907 73,693 28.2% Hyster Lift Truck (Forklift) CP-0030 38,500 38,413 87 99.8% ADA Accessibility Improvements Program CP-2024 122,000 11,223 110,777 9.2% Hydroflush Weirs from Finnell to Beard Ditch DF-0018 100,000 53,422 46,579 53.4% Repair Fence at Pump Station DF-0019 55,000 54,300 700 98.7% Mesa Crt Final Strm Drn Imprvm DF-0020 52,295 52,295 - 100.0% Town Wide Drainage and Erosion Program DF-2024 20,500 1,313 19,187 6.4% Paving Projects - Plan, Specs, and Engineering GT-3024 136,828 60,433 76,395 44.2% Annual Street Maintenance & Paving Program MT-3024 534,990 238,453 296,537 44.6% Replace 2003 Chevrolet 2500HD PK-0028 60,000 60,000 - 100.0% Replace 2013 Chevrolet 2500HD PK-0029 21,500 3,361 18,139 15.6% Pump House Rebuild Van De Leur PK-0030 100,000 100,000 0.0% Vineyard Park Enhancement Project PK-0032 450,000 51,809 398,191 11.5% Shade Structure at North Park PK-0033 150,000 11,950 138,050 8.0% Replace Tot Lot Play Surface PK-0035 10,000 10,000 - 100.0% Replace Play Surface at Yountville Community Park PK-0037 120,000 109,671 10,329 91.4% Waxie Compacting Trash Receptacles PK-0038 113,580 108,234 5,346 95.3% Curb, Gutter, and Sidewalk Replacement SB-6024 79,600 79,600 - 100.0% Surveys and Monuments ST-0004 18,500 18,500 - 100.0%
Replacement Muni Ops Truck ST-0025 70,000 1,733 68,267 2.5% Washington Street Parking Lot Beautification ST-0027 300,000 300,000 0.0% Utility Undergrounding Engineering & Design ST-0029 200,000 200,000 0.0% Tallnt Lne Finl Rdwy Imprvmnts ST-0036 18,796 18,796 - 100.0% Traffic Calming Program ST-4024 18,500 10,616 7,884 57.4% Total 15,504,661 12,980,363 2,524,299 83.7%
Expenditures - Water & Wastewater Budget * Actual Variance % of Budget Upgrade Well SCADA System WA-0018 110,543 112,784 (2,240) 102.0% Water System Inter Tie Projects WA-0020 65,000 10,611 54,389 16.3% Clay Valve Rebuild at Finnell Rd & Yount / Finnell Rd & Yville XRd WA-0022 8,000 6,523 1,477 81.5% Municipal Well #1 VFD Rehab*** WA-0025*** 60,000 11,727 48,273 19.5% Water Meter Replacement Program WA-2024*** - - 0.0%
Hydrant Repair Replacement WA-5024*** 5,500 5,500 0.0%
WWRF Office Modernization WW-0011 2,008,902 13,957 1,994,945 0.7% Rebuild Sludge Heater & Add Sludge Mixing System WW-0019 250,000 250,000 0.0% Design & Construct Headworks Improvements WW-0027 40,000 40,000 0.0% Safety Net and Safety Hinged Doors at Hand Well Access WW-0032 10,000 8,712 1,288 87.1% Pump Station Assessment and Capacity Evaluation WW-0033 40,000 40,000 0.0% WWRF Component Assessment & Repair Plan WW-0034 500,000 500,000 0.0% Headworks Grit Screw Chamber Improvement WW-0037 25,000 25,000 0.0% Pond Site Fencing, Grading & Drainage Improvements WW-0038 50,000 50,000 0.0% Compliance Analyzers for SCADA System WW-0039 20,000 9,900 10,100 49.5% Consultant to Assess Cost, Years, & Design for WWRF Projects WW-0040 150,000 150,000 0.0% New Vactor Truck WW-0041 400,000 400,000 0.0%
Recycled Water Transmission Main Repair WW-0042 944,892 156,204 788,689 16.5% Flare System Installation WW-0043 100,000 100,000 0.0%
Asset Management System WW-0044 45,000 43,000 2,000 95.6% Inflow & Infiltration Reduction Program WW-2024 435,766 245,225 190,541 56.3% Sewer Main Replacement and Repair Program WW-3024 93,000 7,710 85,290 8.3% Plant Equipment Replacement Program WW-4024 138,029 98,032 39,997 71.0% Town Pump Station Equipment Replacement Program WW-5024 18,885 18,581 304 98.4% SCADA Controls WW-6024 15,000 12,199 2,801 81.3%
Total 5,533,518 755,164 4,778,353 13.6%
* Budget includes amounts for prior year purchase order rollover and reflects all Fiscal Year 2023/2024 budget adjustments. ** $45,000 budget for CF-0024 Enclose BBQ Area for Storage project was transferred to new CF-0044 Bus Shelter Repair project. *** WA-2024 total budget of $30,500 and $29,500 of original WA-5024 $35,000 budget was transferred to new WA-0025 Municipal Well #1 VFD Rehab project.
TOWN OF YOUNTVILLE
YEAR END FINANCIAL REPORT
Fiscal year 2023/2024
WATER CAPITAL IMPROVEMENT FUND (60) Budget Actual Variance % of Budget Revenues - System Replacement Fees 147,600 148,615 1,015 100.7% Impact Fees - 6,526 6,526 100.0%
Interest Income 4,500 18,226 13,726 405.0%
Total Revenues 152,100 173,367 21,267 114.0%
Capital Improvement (60-4500) 344,043 230,868 (113,175) 67.1% Total Expenses 344,043 230,868 (113,175) 67.1%
Net Operating Income/(Loss or use of Fund Balance) (191,943) (57,501) 134,442 WATER OPERATING ENTERPRISE FUND (61) Budget Actual Variance % of Budget Revenues - Utilities 1,667,000 1,828,906 161,906 109.7% Interest Income 3,500 47,218 43,718 1349.1%
Transfer-Water Subsidy (01) 6,000 4,675 (1,325) 77.9%
Total Revenues 1,676,500 1,880,799 204,299 112.2%
O & M Expenses (61-4505) 787,984 682,200 (105,784) 86.6% Water Purchases (61-4507) 1,064,420 846,479 (217,941) 79.5% Total Expenses 1,852,403 1,528,678 (323,725) 82.5%
Net Operating Income/(Loss or use of Fund Balance) (175,903) 352,120 528,024 WASTEWATER OPERATING ENTERPRISE FUND (62) Budget Actual Variance % of Budget Revenues - Utilities 2,531,000 2,726,403 195,403 107.7% Interest Income 7,500 65,916 58,416 878.9%
Transfer-Wastewater Subsidy (01) 6,000 4,675 (1,325) 77.9% Total Revenues 2,544,500 2,796,994 252,494 109.9%
-
WW Collection (62-4510) 515,815 431,172 (84,644) 83.6%
WW Treatment (62-4515) 1,712,934 1,638,255 (74,679) 95.6% Transfer to Capital (63/64) 500,000 500,000 - 100.0%
Total Expenses 2,728,749 2,569,427 (159,323) 94.2%
Net Operating Income/(Loss or use of Fund Balance) (184,249) 227,567 411,816 JOINT TREATMENT CAPITAL FUND (63) Budget Actual Variance % of Budget Federal Grant 2,000,000 - (2,000,000) 0.0%
Miscellaneous Revenue 1,000,000 1,263,857 263,857 126.4% System Replacement Fees 240,000 242,717 2,717 101.1%
Revenues Capital Recovery Vets 50,000 201,678 151,678 403.4% Interest Income 25,000 147,918 122,918 591.7%
Transfer from Wastewater Operating (62) 50,000 50,000 - 100.0% Total Revenues 3,365,000 1,906,170 (1,458,830) 56.6%
WW Joint Treatment Plant (63-4518) 4,716,484 579,074 (4,137,411) 12.3% Total Expenses 4,716,484 579,074 (4,137,411) 12.3%
Net Operating Income/(Loss or use of Fund Balance) (1,351,484) 1,327,097 2,678,581 WASTEWATER UTILITY CAPITAL FUND (64) Budget Actual Variance % of Budget Transfer from WW Operating (62) 450,000 450,000 - 100.0% Interest Income 6,000 24,124 18,124 402.1%
Total Revenues 456,000 474,124 18,124 104.0%
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WW Capital Improvement (64-4519) 1,069,651 106,054 (963,597) 9.9% Transfer to Debt Service (55) 30,043 30,043 - 100.0%
Total Expenses 1,099,694 136,097 (963,597) 12.4%
Net Operating Income/(Loss or use of Fund Balance) (643,694) 338,027 981,721