Resolution 2890-112
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WHEREAS, on May 5, 201 1, the Board of Directors of the South Tahoe Public Utility
District held a public meeting and exhibits of the Sewer Enterprise Fund Budget for the
Fiscal Year 2011-12 were made public.
NOW, THEREFORE BE IT RESOLVED, by the Board of Directors of the South Tahoe
Public Utility District that:
The attached budget in the amount of $33,020,104 is adopted for the Fiscal Year
beginning July 1, 2011, and ending June 30, 2012.
WE THE UNDERSIGNED, do hereby certify that the above and foregoing resolution
was duly and regularly adopted and passed by the Board of Directors of the South
Tahoe Public Utility District at a regular meeting duly held on the 19th day of May 2011,
by the following vote:
AYES: Cefalu, Rise, Schafer
NOES: Jones, Mosbacher
ABSENT: None
ATTEST:
Kathy Sharp, rk of the Boafd
RESOLUTION NO. 2890-11
A RESOLUTION OF THE BOARD OF DIRECTORS
OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT
ADOPTING THE BUDGET FOR THE SEWER ENTERPRISE FUND
FOR FISCAL YEAR 2011 -12
Dale Rise, Board President
South Tahoe Public Utility District
NOTES:
SOUTH TAHOE PUBLI UTILITY DISTRICT
2012 Sewer -3% rate increase, reduced borrowing.xls
1. Enterprise Fund revenue is from customer service charges and Capital Outlay Reserve revenue
is from capacity fees and grants. Borrowings fund capital improvements.
2. Capital Outlay includes the Engineering Dept expenditures. Enterprise Fund contains all other departments.
3. Interest expense is paid from the Enterprise Fund. Principal is paid from the Capital Outlay Reserve.
4. A cash reserve equal to two months of O &M expenses is maintained for operations The remaining cash reserve is
designated for Capital Outlay projects.
5. The Board established the Rate Stabilization Fund (RSF) on April 15, 2004. In the event of a large and sudden
loss of revenue or increase in costs these funds will be used to avoid dramatic changes in sewer
service charge rates. The RSF is equal to one years property tax receipts less transfers to other jurisdictions.
See the Ten -Year projection pages for more extensive notes.
/ 3/2011
SEWER BUDGET SUMMARY
2007/08
2007/08
2008/09
2008/09
2009/10
2009/10
2010/11
2010/11
2011/12
2011/12
ACTUAL
ACTUAL
ACTUAL
ACTUAL
ACTUAL
ACTUAL
ESTIMATED
ESTIMATED
BUDGET
BUDGET
ENTERPRISE
CAPITAL OUTLAY
ENTERPRISE
CAPITAL OUTLAY
ENTERPRISE
CAPITAL OUTLAY
ENTERPRISE
CAPITAL OUTLAY
ENTERPRISE
CAPITAL OUTLAY
FUND
RESERVE
FUND
RESERVE
FUND
RESERVE
FUND
RESERVE
FUND
RESERVE
BEGINNING CASH BALANCES
2,354,079
15,936,243
2,602,064
26,735,546
2,542,002
22,912,364
2,677,267
23,135,793
2,787,229
17,889,921
REVENUES (1)
18,278,615
1,579,486
18,395,088
1,260,684
17,794,878
596,362
17,340,508
525,656
17,585,732
956,000
BORROWINGS
10,000,000
0
0
0
0
0
0
3,535,311
0
13,150,000
AVAILABLE FUNDS
30,632,694
17,515,729
20,997,152
27,996,230
20,336,880
23,508,726
20,017,775
27,196,760
20,372,961
31,995,921
SALARIES (2)
4,726,552
564,597
4,949,254
619,389
4,995,049
680,739
5,186,687
745,291
5,172,825
698,400
BENEFITS (2)
2,538,705
209,827
2,715,689
209,530
2,768,744
219,599
2,771,636
283,220
2,904,850
298,150
OPERATIONS & MAINTENANCE (2)
5,771,650
100,717
4,758,390
99,953
5,437,919
72,325
5,744,568
95,975
6,046,320
114,826
CAPITAL OUTLAY
4,680,978
7,492,752
3,038,260
9,815,619
15,720,733
DEBT SERVICE (3)
943,697
756,639
970,968
928,837
931,223
958,001
903,000
993,000
935,000
1,129,000
TOTAL CASH OUTLAYS
13,980,604
6,312,758
13,394,301
9,350,461
14,132,935
4,968,924
14,605,891
11,933,105
15,058,995
17,961,109
BALANCE BEFORE TRANSFERS
16,652,090
11,202,971
7,602,851
18,645,769
6,203,945
18,539,802
5,411,884
15,263,655
5,313,966
14,034,812
CAPITAL OUTLAY FUND TRANSFERS
- 14,050,026
14,050,026
- 5,060,849
5,060,849
- 3,526,678
3,526,678
- 2,624,654
2,624,654
- 2,430,738
2,430,738
ACCRUAL TO CASH ADJUSTMENT
1,482,549
- 794,254
0
1,069,313
1,611
0
7,817
RATE STABILIZATION FUND TRANSFERS
- 6,282,487
- 6,494,392
- 6,456,263
- 5,976,420
- 5,959,000
OPERATING AND CAPITAL OUTLAY RESERVES (4)
2,602,064
20,453,059
2,542,002
16,417,972
2,677,267
16,679,530
2,787,229
11,913,501
2,883,229
10,514,367
RATE STABILIZATION FUND (5)
6,282,487
6,494,392
6,456,263
5,976,420
5,959,000
TOTAL RESERVE BALANCES
2,602,064
26,735,546
2,542,002
22,912,364
2,677,267
23,135,793
2,787,229
17,889,921
2,883,229
16,473,367
AMORTIZATION (NON -CASH ITEM)
14,007
14,007
16,639
16,639
16,639
DEPRECIATION (NON -CASH ITEM)
4,496,288
4,127,848
4,281,779
4,367,000
4,454,000
NOTES:
SOUTH TAHOE PUBLI UTILITY DISTRICT
2012 Sewer -3% rate increase, reduced borrowing.xls
1. Enterprise Fund revenue is from customer service charges and Capital Outlay Reserve revenue
is from capacity fees and grants. Borrowings fund capital improvements.
2. Capital Outlay includes the Engineering Dept expenditures. Enterprise Fund contains all other departments.
3. Interest expense is paid from the Enterprise Fund. Principal is paid from the Capital Outlay Reserve.
4. A cash reserve equal to two months of O &M expenses is maintained for operations The remaining cash reserve is
designated for Capital Outlay projects.
5. The Board established the Rate Stabilization Fund (RSF) on April 15, 2004. In the event of a large and sudden
loss of revenue or increase in costs these funds will be used to avoid dramatic changes in sewer
service charge rates. The RSF is equal to one years property tax receipts less transfers to other jurisdictions.
See the Ten -Year projection pages for more extensive notes.
/ 3/2011