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November 15, 2011 <br />TO: Members of the GLWMO Board of Commissioners <br />FROM: Tom Petersen <br />Administrator �-- <br />SUBJECT: Revised 2012 Budget <br />Members of the Board: <br />Attached is a revised 2012 Budget and projected budgets for 2013 and 2014. This <br />document is based on the Draft Plan as we have revised since the close of the 60 day <br />review period. <br />We must adopt this at our November 17" Board meeting to move forward into 2012 and <br />satisfy BWSR7s Planning requirements. <br />As we deliberate on this subject matter, the following are special issues we need to <br />consider. <br />Fund Balance trends and cash -flow needs- You will see that we will end 2011 with an <br />estimated $70K in fund balance and will end 2013 with approx. $116K in fund balance. <br />This significant growth will be reduced to approx. $25K at the end of 2014 with the <br />"major amendment" requirement. In addition, it seems likely. once we get ourClP <br />program figured out when the WRAPP is finished, that $300K in revenue from the cities <br />may be insufficient to address our capital project needs? Also, as we move to a more <br />capital project implementation program organization, we will need significant cash -flow, <br />either in fund- balance or as a loan from the cities to fund projects and sustain operations <br />as our revenues are received. Will $300K per year really be enough? Fund - balance <br />strategies? <br />Miscellaneous Engineering Services on Retainer- How much do we really need ?? <br />