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FY2014 Solid Waste UpdateOperating Revenue and Expenditures As of September 30, 2013 FY2014 FY2014 FY2013REVENUEBudget 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 Landfill Fee Income 736,680$ 81,434$ 95,472$ (655,246)$ (14,038)$ 11%-15%Tipping Fees 2,540,734$ 946,415$ 560,777$ (1,594,319)$ 385,639$ 37%69% Total Revenue*3,277,414$ 1,027,850$ 656,249$ (2,249,564)$ 371,601$ 31.4%56.6% 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 28,475$ 4,060$ 4,700$ (24,415)$ (640)$ 14%-14% Medicare P/R Tax Expense 400$ 59$ 68$ (341)$ (9)$ 15%-14% Medical Insurance 15,307$ -$ 3,494$ (15,307)$ (3,494)$ 0%-100%Barnstable County Retirement -$ -$ -$ -$ -$ 0%0%Utilities 491,462$ 40,775$ 50,987$ (450,687)$ (10,212)$ 8%-20%Repair & Maintenance 1,000$ 2,091$ 12,331$ 1,091$ (10,240)$ 209%-83%Professional Services - Collection & Disposal 5,720,768$ 1,343,981$ 1,132,736$ (4,376,787)$ 211,246$ 23%19% Professional Services - Recycle / MRF 435,950$ 93,417$ 92,784$ (342,533)$ 633$ 21%1%Freight 1,300,000$ 281,733$ 168,037$ (1,018,267)$ 113,696$ 22%68% General Insurance -$ -$ -$ -$ -$ 0%0% Indirect Costs 214,511$ 106,511$ 63,600$ (108,000)$ 42,911$ 50%67% Other 178,749$ 7,398$ 11,821$ (171,351)$ (4,423)$ 4%-37%Total Expenditures Excluding Debt 8,386,622$ 1,880,025$ 1,540,558$ (6,506,597)$ 339,467$ 22%22% Surplus (Deficit) of Revenue Over Expenditures Excluding Debt (5,109,208)$ (852,176)$ (884,309)$ 4,257,032$ 377,955$ 17%-4% 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 40,000$ -$ -$ (40,000)$ -$ 0%0% Interest 20,676$ -$ 11,016$ (20,676)$ (11,016)$ 0%-100% Issuance Costs -$ -$ -$ -$ -$ 0%0% BAN Costs, Principal, Interest -$ -$ -$ -$ -$ 0%0% Other -$ -$ -$ -$ -$ 0%0%Total Debt Service 60,676$ -$ 11,016$ (60,676)$ (11,016)$ 0%-100% Total - Surplus (Deficit) of Revenue Over All Operating Expenditures*(5,169,884)$ (852,176)$ (895,325)$ 4,317,708$ (11,016)$ 16%-5% 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 Operating Override 1996 and 2006 2,675,519$ 668,879$ 856,754$ (2,006,639)$ (187,875)$ 25%-22% General Fund Subsidy - Operations 1,937,444$ 484,361$ 441,358$ (1,453,083)$ 43,003$ 25%10% Voted Use of Certified Retained Earnings -$ -$ 444,268$ -$ (444,268)$ 0%-100% Budget to Recap Adjustment -$ -$ (27,983)$ -$ 27,983$ 0%-100%FY2013 Encumbrance Carryforwards 556,921$ -$ 79,183$ (556,921)$ (79,183)$ 0%-100% Total Other Financing Source 5,169,884$ 1,153,241$ 1,742,381$ (3,459,723)$ (589,140)$ 22%-34% -$ 301,065$ 847,056$ 857,986$ (545,991)$ 100%-64% BENCHMARKS % of Debt to Operating Expense Policy 12%12%12% % of Actual Debt to Operating Expense 1%0%1% Certified Retained Earnings 1,168,910$ -$ -$ % of Certified Retained Earnings Used for Operations 0.0%0.0%0.0%% of Certified Retained Earnings Used for One Time or Capital Expenditures 0.0%0.0%0.0% mining (all GF Subsity) Discussions have started with DEP to extend the mining C&D/MSW Tons - Actual Comparison to Last Year As of September 30, 2013 STATISTICS *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. Revenues 56.6% greater than last year Operating Expenses are 22% of FY13 Budget total = operating expnse + FY2014 Solid Waste Enterprise Fund Budget Update Surplus (Deficit) of Revenue Plus Other Financing Sources Over Expenditures* Financial Highlights As of September 30, 2013 Actual Comparison to Last Year As of September 30, 2013 Actual Revenue to Budget As of December 31, 2012 Actual to Budget As of December 31, 2012 Actual Revenue Breakdown As of September 30, 2013 8% 92% Landfill Fee Income Tipping Fees $- $500,000.00 $1,000,000.00 $1,500,000.00 $2,000,000.00 $2,500,000.00 FY 2013 FYY 2014 2013 (A) v. 2014 YTD (A) Payroll Expense Operating Expense Other/Indirect Expense 0 500 1000 1500 2000 2500 Jul Aug Sep Oct Nov Dec Jan Feb Mar 2012 2013