2003-03-26 CC Packet - Laserfiche WebLink

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.. . ~ City of Centerville February 6, 2003 Page Ten Enterprise Funds Water Fund The results of the operations and cash position of the Water fund for the past three years are as follows: Percent Percent Percent of of of 2002 Total 2001 Total 2000 Total Charges for services $ 158,122 100.0 $ 184,481 100.0% $ 146,321 100.0% Operating expenses 117.477 74.3 154.722 83.9 85.511 58.4 Operating income 40,645 25.7 29,759 16.1 60,810 41.6 Nonoperating income 188.974 119.5 165.916 89.9 129.134 JU Net income before transfer S 229.619 ~% S 195.675 ~% S 189.944 ~% Cash balance, December 31 S 1.125.148 S 1.264.755 S 1.093.145 Bonds payable S 237.750 S 267.000 S 294.000 The hook-up fees generate revenue for expansion of the system. . These fees contributed to the majority ofthe'large cash balance. The rates currently appeaJ.' adequate and are at a level sufficient to provide for the operation of the system. but the City should evaluate them. annually. Sewer Fund The results of operations and cash position of the Sewer fund for the past three years are as follows: Percent Percent Percent of of of 2002 Total 2001 Total 2000 Total Charges for services $ 248,113 100.0% $ 202,121 100.0% $ 181,415 100.0% Operating expenses 212.867 ~ 188.248 J3J. 214.089 J18..Q Operating income (loss) 35,246 14.2 13,873 6.9 (32,674 ) (18.0) Nonoperating income 204.458 JM 187.036 92.5 215.656 118.9 Net income before transfers S 239.704 ~% S 200.909 ~% S 182.982 ~% Cash balance, December 31 S 1.835.677 S 1.818.376 S 1.669.712 Bonds payable S 297.250 S 333.000 S 366.000 The Sewer cash also is very high compared with operating expenses but hook-up fees have also been a major factor in the increase. The operations before hook-up fees have been at a loss for several years unti12oo1. It is important that the City review rates to ensure that the revenue is sufficient to cover operating expenses. As mentioned in the Water fund analysis, the hook-up fees should be used for the expansion of the system.