2012-12-12 CC Packet - Laserfiche WebLink

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Debt Service Fund Budget Summary The City currently has four outstanding bond issues- 2005A, 2009A, 20098, 2011A. Outstanding principal obligations for these four bond issues are projected to be $8,066,020 at December 31, 2013. The City anticipates to fund its 2013 street project with a new debt issue at roughly $1,500,000 so the City is projected to have $9,566,020 in debt principal balances at the end of 2013. Debt Service Revenue: Each bond issue is supported by a levy (20098 series being the only exception) and an assortment of special assessments. The Debt service fund levy and special assessment revenue for 2013 is budgeted at $529,000 and $248,000 respectively. Debt Service Expenditures: Debt Service expenditures include principal and interest payments on the respective bond issues along with fiscal agent fees associated with their annual maintenance. The Debt service principal /interest payments and fiscal agent fees are budgeted at $998,703 for 2013. Utility Fund Budget Summary The City of Centerville utilizes an enterprise fund accounting system that isolates revenue and expenditures for each of its water, sewer and storm water operations. To that end, each fund is supported through a set of user fees that are analyzed on an annual basis to ensure the proper set of reserves are maintained in order to meet on going cash flow needs and to replace existing infrastructure as it becomes depreciated. Water Fund Rates The typical water customer can be classified into two different categories — residential and commercial each with a fixed and or variable component to the cost structure. There are currently 1,299 residential parcels (1,046 hooked on to water) and 75 commercial parcels (44 hooked onto water) customers. The proposed 2013 rates remain the same as 2012 and are chronicled below: Water 2012 2013 - Proposed Residential - Fixed Charge 21.00 per quarter 21.00 per quarter Variable - Rate per thousand gallons per quarter (0 - 90,000) 2.00 2.00 Variable - Rate per thousand gallons per quarter (90,000 - 150,000) 2.20 2.20 Variable - Rate per thousand gallons per quarter (150,000 - xxx) 2.50 2.50 Commercial - Fixed Charge 21.00 per quarter 21.00 per quarter Variable - Rate per thousand gallons per quarter (0 - 500,000) 2.00 2.00 Variable - Rate per thousand gallons per quarter (500,000 - xxx) 2.50 2.50 Water Fund Revenue: These water rates are projected to produce water sales of $290,000. Other miscellaneous revenues in this classification are budgeted at $68,000, which provides a total revenue budget of $358,000 for 2013. -33-