HomeMy WebLinkAboutRes 04-28 Approving Amendments to the Budget for the Fiscal Year 2003-2004TOWN OF WESTLAKE
RESOLUTION NO. 04-28
A RESOLUTION OF THE BOARD OF ALDERMEN OF THE TOWN OF
WESTLAKE, TEXAS, APPROVING AMENDMENTS TO THE FY 2003-04
UTILITY FUND BUDGET,
BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE TOWN OF
WESTLAKE, TEXAS:
SECTION 1: That the Board of Aldermen of the Town of Westlake does hereby
approve amendments to the FY 2003-04 Utility Fund budget attached here as Exhibit A
SECTION 2: That this Resolution shall become effective upon the date of its
passage.
PASSED AND APPROVED ON THIS 14TH DAY OF JUNE 2004.
ATTEST: Scott Bradley, Mayor
k
Ginge rosswy, Town Saretary
APPROVED AS TO FORM:
L. anton Lo To ttorney
Trent O. Petty, Town Mana er
D
Utility Fund
Program Summary - Proposed Amendment
Utility Fund
Budgeted
FY 02/03
Actual
FY 02103
Budgeted
FY 03104_
Proposed
Amendment
FY 03104
Beginning Balance
36,540
29,876
0
410,388
Auditor's Correction *
-
76,626
-
Adjustments*
-
(1,971)
-
Corrected Beginning Balance (Cash)
36,540
104,531
-
410,388
Balance sheet affect to Cash "
581,812
Revenue
1,051,517
929,951
977,850
1,253,370
Transfers In
-
-
126,584
-
Expenditures (net of amortization and debt)
813,233
1,205,906
1,035,747
1,404,018
Transfers Out
-
-
37,529
-
Ending Balance
163,210 1
410,3881
31,158
259,740
Utility Fund Transfers In
Budgeted
FY 02103
Actual
FY 02103
Budgeted
FY 03104
Proposed
Amendment
FY 03104
Transfers In
4B
126,584
Total Transfers In
-
126,584
Utility Fund Transfers Out
Budgeted
FY 02103
Actual
FY 02103
Budgeted
FY 03104
ropose
Amendment
FY 03104
Transfers Out
General Fund
4A
Repayment of Duct Bank
95,000
-
413
Repayment of Short Term Loan
20,000
-
-
-
Repayment of WL/Keller OH Storage
118,887
37,529
Total Transfers Out
233,887 1
37,529
* For the beginning balance of FY 02103, two adjustments have been made. First, as per the audit, an
item that was expensed twice has been added back into the balance ($76,626). Second, the adjustments
line is for errors in the projection process. The $1,971 consists of $858 of budgeting error and $1,113
in rounding error of the 4B transfer (rounded to $140,000 when actual amount is $138,887). These
adjustments allow for a beginning balance of $104,531 which is the proper beginning cash balance.
* Balance sheet affect to cash represents balances between the fiscal years that affect cash and are reflected
in current year revenue or expenditures, i.e. payables and receivables posted to current year's books but
cash is not paid nor received until the subsequent year as well as inter -fund loans not yet paid or received.
Major contributions to the balance sheet affect to cash of $581,812 are the following:
$315,900 Interest payable to Hsllwood (expensed but not
paid)
$129,005 Accounts Payable (Knox Road exp, Fort Worth
Water, Cheatham, etc) Expensed but not paid
$253,275 Southlake sewer payable which was expensed
but not paid in the 2002/2003 FY
$264,000 Deferred duct bank revenue which we have
received but can't recognize the total revenue.
We have to recognize over the 20 year lease
period
($280,000) Approximate deductions from liabilities due to
debt payments (Funds paid but no expense
booked - reduced liabiity instead)
($82,181) Receivable from AquaSource (Booked as
revenue but not received)
$599,999 6/9/2004 7:54 AM
UDR"'ty Fund
Proposed Budget Amendments
as of March 31st, 2004
are
Income
Proposed FY
031D4 Budget 1 Budget 03 04I Amended Budgeted ed I YTD Ai tuats I Budgeted
6/9/2004 9:05 AM
Variance
%° of YTD Variance Adoptedl
Actual (1 -II) 1 Amended
34410
11
Water Revenue (historical YTD budgeted)
691,000
880,068
257,431
255,073
37.25%
36.91%
(2,358)
189,068
34420
11
Sewer Revenue
150,000
150,000
75,000
86,026
50.00%
57.35%
11,026
0
34430
11
Water Tap Fees
7,500
10,000
3,750
8,300
50.00%
110.67%
4,550
2,500
34440
11
Sewer Tap Fees
1,250
2,250
625
1,000
50.00%
80.00%
375
1,000
34450
11
Ft. Worth Impact Fees
21,000
25,000
10,500
18,371
50.00%
87.48%
7,871
4,000
34460
36110
36200
11
11
11
Water - reconnect fees
Interest Earned
Duct Bank Leases
100
0
107,000
100
2,500
183,452
50
0
183,452
(455)
1,489
183,452
50.00%
0.00%
171.45%
-454.61%
0.000/0
171.45%
(505)
1,489
(0)
0
2,500
76,452
TOTAL INCOMEI 1
977,8501
1,253,3701
530,808 1
553,256 1
54.28%1
56.58%1
22,4491
275,520
Expenses___
41110 11
42110 11
Majority of increase is due to the water revenue per water rate study by Graham Associates and more than expected amount for the duct bank lease.
_
Salaries 126'" 13 42,590 42,590 21,295 19,937 50.00% 46.81%
Medical/Dental Insurance 2,841 2,841 1,421 1,028 50.00% 36.20%
(1,358)
(392)
0
0
42210
11
Social Security
2,641
2,641
1,321
1,213
50.00%
45.91%
(108)
0
42220.
11
Medicare
618
618
309
284
50.00%
45.88%
(25)
0
42310
11
TMRS
3,620
3,620
1,810
1,666
50.00%
46.01%°
(144)
0
42510
11
Unemployment Taxes
34
124
17
0
50.00%
0.00%
(17)
90
42610
43205
11
11
Workers Comp
Admin Expense
931
23,625
170
23,625
466
11,813
0
11,622
50.00%
50.00%
0.00%
49.19%
(466)
(191)
(761)
0
43220
11
Water Utility Engineer
30,000
30,000
15,000
8,023
50.00%
26.74%
(6,977)
0
43245
43250
11
11
Financial Consultant
Auditor @ 15% — - - --
5,000
5,250
5,000
5,250
2,500
2,775
0
2,775
50.00%
52.86%
0.00%
52.86%
(2,500)
0
0
0
43310
11
Boyle & Lowry
30,000
30,000
15,000
2,173
50.00%
7.24%
(12,827)
0
43320
11
Lloyd, Gosselink
2,500
1,000
1,250
0
50.00%°
0.00%
(1,250)
(1,500)
44105
44110
44115
11
11
11
Water Purchases
Peak Payment
TRA Wastewater Treatment
150,000
130,000
90,000
213,000
130,000
90,000
75,000
65,000
45,000
55,565
64,541
82,569
50.00%
50.00%
50.00%
37.04%
49.65%
91.74%
(19,435)
(459)
37,569
63,000
0
0
44116
11
Southlake - N-1 sewer line payment
0
253,275
0
0
0.00%
0.00%
0
253,275
44117
11
Inflow and Infiltration Study
0
25,385
0
0
0.00%
0.00%
0
25,385
44120
11
Southlake / TRA Mai nt.
90,000
90,000
45,000
0
50.00%
0.00%
(45,000)
0
44130
44135
11
11
Meter Installation and equipment
Meter Reading / Billing
5,000
10,800
6,000
10,800
2,500
5,400
2,980
3,703
50.00%
50.00%
59.60%
34.28%
480
(1,697)
1,000
0
44140
11
AquaSourcelStwbilling/Badger software
36,000
36,000
18,000
16,239
50.00%
45.11%
(1,761)
0
44311
11
Water & Sewer Maintenance
5,000
7,000
2,500
3,851
50.00%
77.02%
1,351
2,000
44410
11
Office Rent
2,_209
1,300
1,105
678
50.00%
30.71%
(426)
(909)
45225
11
Utility Infrastructure Insurance
15,549
15,549
15,549
15,549
100.00%
100.00%
0
0
45305
11
Telephone Expense
780
1,600
780
834
100.00%
106.98%
54
820
45310
11
Mobile Phone
840
840
420
448
50.00%
53.28%
28
0
U{ '"ity Fund
Proposed Budget Amendments
as of March 31st, 2004
Proposed YTD
FY Budget Amended Budgeted
03104 1 Budget 03/04 1
45315
11
Internet Expense
285
45320
11
Telephone Lease (buy out)
54.
46105
11
Office Supplies
60-
46110
11
Office Equipment
1,000
46120
11
Postage
0
46135
11
Bank Service Charges
15 0
46220
11
Electricity (Pump Station)
17,150
46221
11
Water (Town allocation)
0
46222
11
Electricity (Town allocation)
0
46223
11
Gas (Town allocation)
0
47420
11
Water Meters/Equipment
1,000
48810
11
WL / Keller Overhead Storage
120,429
48820
11
Hillwood infrastructure Repayment
25,000
48830
11
TRA (Principal)
28,331
48831
11
TRA ( Interest)
1,695
41110 16 Public Works Superintendent /26--13
42110 16 Medical/D ental Insurance
42210 16 Social Security
42220 16 Medicare
42310 16 TMRS
42610 16 Worker's Compensation
45230 16 Personnel Insurance
46215 16 Fuel and Vehicle Maintenance
EXPE
6/9/2004 9:05 AM
Variance
YTD Actuals % of YTD % of YTD Variance Adopted!
II Budgeted Actual 0 -II) Amended
285
921
143
54
48
921
50.00%
100.00°/a
16.69%
1704.94%
(95)
867
0
867
200
250
25
500
39
11
50,00%
50.00%
77.70%
1.10%
14
(489)
150
(750)
600
0
176
0.00%
0.00%
176
600
50
75
0
50.00%
0.00%
(75)
(100)
17,000
8,500
7,420
50.00%
43.65%
(1,080)
0
2,100
7,725
3,491
0
0
0
0
500
0
0.00%
0.00%
0.00%
50.00%
0.00%
0.00%
0.00%
0.00%
0
0
0
(500)
2,100
7,725
3,491
(1,000)
120,429
120,429
120,429
100.00%
100.00%
(0)
0
37,000
12,500
0
50.00%
0.00%
(12,500)
12,000
28,396
28,331
28,396
100.00%
100.23%
65
65
1,704
248,379 1
1,695
523,9801
1,704
454,8191
100.00%
59.49%1-51.64%
100.52%
9
(69,161)1
9
367,557
17,500
17,500
8,750
8,327
50.00%
47 58%
(423)
0
4,394
4,394
2,197
506
50.00%
11.53%
(1,691)
0
1,105
1,105
553
430
50.00%
38.90%
(123)
0
254
254
127
101
50.00%
39.57%
(26)
0
1,488
1,488
744
706
50.00%
47.41%
350
1,064
175
189
50.00%
54.00%
(39)
14
0
714
1,750
1,750
875
0
50.00%Q
0.00%
(875)
0
1,500
1,500
750
0
50.00%
0.009%
(750)
0
5 28,341 1
29,0551
14,171 1
10,258
50.00%
36.20-/0
(31912)
714
47900 11 Knox Road Connection 126,584 126,584 119,688 119,688 0.00°� 0,00% 0 0
CAPITAL EXPENSES1 1 126,5841 126,584 119,6881 119,6881 0.00%1 0.00% 01 Q
TOTAL ALL EXPENSES 1,035,747 1 1,404,018 1 657,839 1 584,7651 63.51% 56.46% (73,074) 368,271
Major portion of the increase in proposed budget of $368,271 is due to the Southlake N-1 sewer line payment of $253,275, the Infiow and Infiltration study at $25,385 and
the increase of water purchase which is offset by water revenue increase above.
11
Ut `"Ity Fund
Proposed Budget Amendments
as of March 31st, 2004
6/9/2004 9:05 AM
Proposed
YTD
Variance
FY Budget
Amended
Budgeted
YTD Actuals
% of YTD
I
% of YTD
I
Variance
Adopted/
03104
Budget 03!04
!
11
Budgeted
Actual
(I -!I)
Amended
SUMMARY
Beginning Fund Balance
0
410,388
410,388
Total Revenue
977,850
1,253,370
530,808
553,256
54.28%
56.58%
22,449
275,520
Total Expenses
1,035,747
1,404,018
657,839
584,765
63.51%
56.46%
(73,074)
368,271
Net Operating Income
(57,897)
(150,648)
(127,031)
(31,508)
(0)
0
95,523
(92,751)
Transfer in (413) - Knox Road Connection
126,584
0
119,688
119,688
94.55%
94.55%
0
(126,584)
Transfer Out to LF
(37,529)
0
37 529
ENDING FUND BALANCEI 1
31,1581
259,740
(7,343)1
88,1801
1
1
95,6231
228,582
Fund Balance Contributions:
Knox Road Connection payment from fund balance
126,584
in lieu of transfer in from 4B
Southlake Sewer payment from Fund Balance
0
253.275
Account Name
Water Revenue
Utility Fund
Proposed Amendment Detail - Revenues
Fiscal Year 2003/2004
03104
691,000
�ndecd tv increase
03104 (Decrease)
anation
880,068 189,068 Per water rate study by Graham Associates as well as increased residential use
Water Tap Fees
7,500
10,000
2,500
With increased development, there has been an increase in water tap fees.
Sewer Tap Fees
1,250
2,250
1,000
With increased development, there has been an increase in sewer tap fees.
Ft. Worth Impact Fees
21,000
25,000
4,000
With increased development, there has been an increase in impact fees.
Interest Earned
0
2,500
2,500
More funds have been retained in the Utility Fund than expencted; therefore interest
has been earned.
Duct Bank Leases
107,000
183,452
76,452
Received more for Verizon lease than budgeted.
Fund Balance Contributions:
Knox Rd Connection in lieu of transfer in 0 126,584
from 4B
Southlake - N-1 sewer line 0 253,275
6/9/2004
9:09 AM
126,584 Funds are available from fund balance to pay directly from the Utility Fund and not
have to borrow funds from 4B (This reduces repayment expenses regarding rate
study)
253,275 Funds available from fund balance to
Utility Fund
Proposed Amendment Detail - Expenses
Fiscal Year 2003/2004
Budgeted men aIncrease
Account Name 03/04 03104 (Decrease) Explanation
Unemployment Taxes
34
124
90 State tripled tax rate as of January 1 st, 2004; we need to journal
appropriate amount from GF
Workers Comp
931
170
(761) Used TML worker's comp risk multiplier rate in proportion to salaries
covered for the administrative portion allocated to this fund
Lloyd, Gosselink
2,500
1,000
(1,500) The dependence on this firm has been less than expected.
Water Purchases
150,000
213,000
63,000 Per Graham Associates water rate study as well as additional residential
use
Southlake N-1 sewer line
-
253,275
253,275 Due to an inflow and infiltration problem, the Town is being charged this
amount, which has been disputed until recently.
Inflow and Infiltration Study
-
25,385
25,385 Due to an inflow and infiltration problem, the Town is being charged for
sewer treatment which is not being recovered by fees to residents. This is
a study to find the problems leading to the inflow and infiltration.
Meter Installation & Equipment
5,000
6,000
1,000 With more development comes more meter installationslreclass from
"Water Meters/Equipment" line -item below
Water & Sewer Maintenance
5,000
7,000
2,000 The Town experienced a water main break and a problem with the lift
stations.
Office Rent
2,209
1,300
(909) The Town owed less than expected to Solana for the old office so all rent
line items are lower than expected.
Telephone Expense
780
1,600
820 Includes the internet expense for the Town.
Telephone Lease (buy out)
54
921
867 The Town paid off the lease for the phone system from the old offices.
Obtained bids and will receive $3,000
Office Supplies
50
200
150 With the new offices, there has been an increased need for office supplies
that were not budgeted.
Office Equipment
1,000
250
(750) No major additional office equipment is necessary for the current year.
Postage
-
600
600 Postage needed due to bringing billing in-house.
6/9/2004
8:03 AM
Utility Fund
Proposed Amendment Detail - Expenses
Fiscal Year 2003/2004
Budgeted men aIncrease
Account Name 03104 03104 (Decrease) Explanation
Bank Service Charges
150
50
(100) The Town is keeping sufficient funds in the bank, therefore no bank
charges.
Utilities - Water
-
2,100
2,100 The water utility cost will be spread over the three funds. 70% in GF, 15%
in UF, and 15% in WVA. This allocation represents the approximate time
spent by employees, office space and resources for each fund. This also
includes the Academy's usage. We have exhausted the funds available in
their budget; therefore the Town is absorbing 100% through the end of the
year. Total cost = $14,000
Utilities - Electric
-
7,725
7,725 The electric utility cost is spread over the three funds just as the Water
and Gas line items are. Same information regarding the Academy budget
as indicated above -Total cost = $51,500
Utilities - Gas
-
3,491
3,491 The gas utility cost is also spread across the three funds with the same
allocation as Water and Electric. Same information regarding the
Academy budget as indicated above. Total cost = $23,275
Water Meters 1 Equip.
1,000
-
(1,000) Reclassed to "Meter Installation & Equipment"
Hillwood Infrastructure Repayment
25,000
37,000
12,000 A calculation of the water usage has indicated that the average is $35,000
- $37,0001annually.
Workers Compensation/Public Works
350
1,064
714 Used current TMI- multiplier rate for Jarrod which we did not have at time
of budget. He is in a higher risk category.
619/2004
8:03 AM