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2013_1014_packet
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5/8/2014 10:55:31 AM
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10/10/2013 12:38:05 PM
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Storm Sewer Fund Summary <br />The following table depicts the 2013 financial activity for the Storm Sewer Fund for the fiscal period <br />ending September 30, 2013 (unaudited). <br />Revenues <br />Charges for services <br />Interest earnings <br />Miscellaneous <br />Total Revenues <br />Expenditures <br />Storm drainage operations <br />Total Expenditures <br />2013 2013 % % <br />Bud�et Actual Actual Expect. Diff. <br />$ 1,931,915 $ 1,004,982 52.0% 59.1% -7.0% <br />65,000 - 0.0% 0.0% 0.0% <br />35,000 292,894 836.8% 36.1% 800.7% <br />$ 2,031,915 $ 1,297,876 63.9% 552% 8.7% <br />2,031,915 769,204 37.9% 53.7% -15.8% <br />$ 2,031,915 $ 769,204 37.9% 53.7% -15.8% <br />Comments: <br />Overall, Storm Sewer Fund revenues are near expected levels. Miscellaneous revenues were higher <br />than expected due to the receipt of the City's share of residual funds leftover from the dissolution of the <br />Grass Lake Watershed District. Expenditures were lower overall due to reduced capital replacements <br />than originally proj ected. <br />The Storm Sewer Fund is currently in excellent financial condition with $3.2 million in available cash <br />reserves for operations and capital replacements. This reserve level is expected to decline over the next <br />10 years due to planned capital improvements. Inflationary-type rate increases will be needed in the <br />future to maintain financial sustainability. <br />Page 11 of 13 <br />
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