CCP 03-13-1995 - Laserfiche WebLink

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I I . 4. Water and SanitarY Sewer Utility Fund Performance . The dramatic pricing actions in these two utilities in 1992 and 1993 have resulted in these enterprises currently operating in a net income position. Retained Earnings and cash I balances for these two funds have improved from 1991 - est. 1994 as follows: I EYn.d 1991 1m 1993 Est. 1994 I Water (R.E.) $240,012 $266,779 $373,995 $532,571 Sewer (R.E.) $554,337 $492,195 $595,876 $659,836 I Water (Cash) $145,620 $142,889 $179.749 $427,300 Sewer (Cash) $307,721 $313,163 $271,521 $403,062 I 5. General Fund Compensated Absences Accrual I One of the spending items discussed during budget worksessions for the last two years, has been the funding of compensated absences (i.e., earned but unpaid vacation and severance/sick leave pay). The liability amount discussed in past years has been I approximately $18,000. Analysis of city work force seniority and leave days as of 12/31/94 has resulted in a I- compensated absences liability (excluding former PW Superintendent Winkel who is fully accrued) of $21 ,652. Because of the favorable results in the General Fund, I have accrued 75% of the remaining (non. Winkel) compensated absences liability as a 1994 I period cost of $17,877. As always. if you have any questions on the above discussion points or any of the financial I data/comments enclosed, do no hesitate to contact me_ I I I I I I- I