HomeMy WebLinkAboutFY2014 Sewer updateOperating Revenue and Expenditures As of September 30, 2013
FY2014 FY2014 FY2013
REVENUE Budget w/Carryforward Actual (As of 9/30/13)LY Actual (As of 9/30/12)$ Variance to Budget $ Variance to LY % to Budget % to LY
Sewer Fee Income 5,304,740$ 2,134,526$ 1,032,661$ (3,170,214)$ 1,101,864$ 40%107%Sewer Permits 111,910$ 54,250$ 14,000$ (57,660)$ 40,250$ 48%288%Sewer Privilege Fees & Interest 170,730$ 119,491$ 140,154$ (51,239)$ (20,663)$ 70%-15%Septic Disposal Fees -$ 47,541$ -$ 47,541$ 47,541$ 100%100%Sewer Liens Collected 15,455$ 1,838$ -$ (13,617)$ 1,838$ 12%100%
Penalties Collected -$ 247$ 545$ 247$ (298)$ 100%-55%
Interest on Investments 4,900$ -$ 2,072$ (4,900)$ (2,072)$ 0%-100%
Other -$ -$ -$ -$ -$ 100%100%
Total Revenue*5,607,735$ 2,357,892$ 1,189,432$ (3,249,843)$ 1,168,460$ 42%98%
OPERATING EXPENDITURES WITHOUT DEBT Budget w/Carryforward Actual (As of 9/30/13)LY Actual (As of 9/30/12)$ Variance to Budget $ Variance to LY % to Budget % to LY
Payroll - Salary 794,110$ 179,772$ 198,928$ (614,338)$ (19,156)$ 23%-10%Medicare P/R Tax Expense 11,500$ 2,607$ 2,884$ (8,893)$ (278)$ 23%-10%Medical Insurance 162,864$ 39,619$ 37,517$ (123,245)$ 2,101$ 24%6%Barnstable County Retirement 253,277$ 141,587$ -$ (111,690)$ 141,587$ 56%100%Utilities 693,540$ 88,062$ 90,618$ (605,478)$ (2,556)$ 13%-3%Repairs & Maintenance 104,979$ 16,622$ 25,761$ (88,357)$ (9,139)$ 16%-35%Professional Services 130,823$ 2,077$ 164$ (128,746)$ 1,913$ 2%1168%
Sewer Supplies & Chemicals 115,961$ 27,917$ 30,435$ (88,044)$ (2,518)$ 24%-8%
General Insurance 149,265$ -$ -$ (149,265)$ -$ 0%0%
Other Supplies 3,075$ 433$ 531$ (2,642)$ (98)$ 14%-18%
Indirect Costs 160,000$ 80,000$ 74,200$ (80,000)$ 5,800$ 50%8%Other 316,345$ 59,598$ 63,056$ (256,747)$ (3,457)$ 19%-5%Total Expenditures Excluding Debt 2,895,739$ 638,293$ 524,093$ (2,257,446)$ 114,200$ 22%22%
Surplus (Deficit) of Revenue Over Expenditures Excluding Debt $2,711,996 $1,719,599 $665,339 (992,397)$ 1,054,260$ 63%158%
DEBT SERVICE Budget w/Carryforward Actual (As of 9/30/13)LY Actual (As of 9/30/12)$ Variance to Budget $ Variance to LY % to Budget % to LY
Principal 3,017,742$ -$ -$ (3,017,742)$ -$ 0%0%Interest 777,177$ -$ 47,923$ (777,177)$ (47,923)$ 0%-100%
Issuance Costs 35,000$ 2,375$ -$ (32,625)$ 2,375$ 7%100%
BAN Costs, Principal, Interest -$ -$ -$ -$ -$ 0%0%
Other 62,500$ -$ -$ (62,500)$ -$ 0%0%Total Debt Service $3,892,419 $2,375 $47,923 (3,890,044)$ (45,548)$ 0%-95%
due to date of debt paymentTotal - Surplus (Deficit) of Revenue Over All Operating Expenditures*-$1,180,423 $1,717,224 $617,416 2,897,647$ 1,099,807$ -145%178%
OTHER FINANCING SOURCES Budget w/Carryforward Actual (As of 9/30/13)LY Actual (As of 9/30/12)$ Variance to Budget $ Variance to LY % to Budget % to LY
General Fund Subsidy -$ -$ -$ -$ -$ 0%0%General Fund Free Cash Subsidy -$ -$ -$ -$ -$ 0%0%
Voted Use of Certified Retained Earnings 979,569$ -$ 508,035$ -$ (508,035)$ 0%-100%
2013 Encumbrance Carryforward 200,854$ -$ 99,750$ -$ (99,750)$ 0%-100%Total Other Financing Source $1,180,423 $0 $607,785 $0 -$607,785 0%-100%
-$ 1,717,224$ 1,225,201$ 1,717,224$ 492,022$ 100%40%
BENCHMARKS
% of Debt to Operating Expense Policy 12%12%12%
% of Actual Debt to Operating Expense 57%0%8%
Certified Retained Earnings 2,933,733$ Certified Retained Earnings without poriton attributed to Privelege Fees 1,106,429$ % of Certified Retained Earnings Used for Operations 88.5%% of Certified Retained Earnings Used for One Time or Capital Expenditures 0.0%
*Note: Governments operate on a budgetary basis; therefore revenue earned in excess of the certified budget is not available to offset expenditures in the current fiscal year. Excess revenue and expenditure turnbacks must go through the State of Massachusetts retained earnings certification process before they can be appropriated at a subsequent annual and/or special town meeting. Once certified, retained earnings can only be appropriated at an annual and/or special town meeting.
FY2014 Sewer Enterprise Fund Budget Update
Surplus (Deficit) of Revenue Plus Other Financing Sources Over Expenditures*
Actual Comparison to Last Year As of September 30, 2013
Financial Highlights As of September 30, 2013
STATISTICS Actual Revenue Breakdown As of September 30, 2013
Revenue Up 51% from Last Year
Debt Service is down 190% from last year
Retained earnings have been certified for this year.
Sewer Fees Sewer Permits SPF Septic Liens Penalties Interest
$-
$50,000.00
$100,000.00
$150,000.00
$200,000.00
$250,000.00
FY 20123 FYY 2014
2013 (A) v. 2014 YTD (A)
Payroll Expense
Operation Expense
Indirect/Other Costs