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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