Resolution 2891-111
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ATTEST:
.a__,,Z-1. _/-,--
Kathy Sharp,rk of the Bo rd
RESOLUTION NO. 2891-11
A RESOLUTION OF THE BOARD OF DIRECTORS
OF THE SOUTH TAHOE PUBLIC UTILITY DISTRICT
ADOPTING THE BUDGET FOR THE WATER ENTERPRISE FUND
FOR FISCAL YEAR 2011 -12
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 Water 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 $16,160,461 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, Mosbacher, Rise, Schafer
NOES: Jones
ABSENT: None
00_Q, C2(_,_
Dale Rise, Board President
South Tahoe Public Utility District
SOUTH TAHOE PU IC UTILITY DISTRICT
2012 Water - Reduced Capital, 0% rate increase.xls
NOTES:
1. Enterprise Fund revenue is from service charges. Capital Outlay Reserve revenue is from capacity
charges, capital improvement fees, grants and borrowings.
2. Capital Outlay includes the Engineering Dept expenditures. Enterprise Fund accounts for all other depts.
3. Interest expense is paid from the Enterprise Fund. Principle 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 reserves
are maintained for capital projects, MTBE projects and rate stabilization.
5. The MTBE Fund is exhausted by 2011/12 year end and the Rate Stabilization Fund begins. The Fund is equal to
10% of annual water rate revenue received.
See the Ten -Year projection pages for more extensive notes.
WATER 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
1,493,256
21,606,129
1,628,894
19,366,619
1,598,420
14,994,784
1,648,540
9,920,794
1,684,877
7,651,192
REVENUES (1)
9,632,877
1,869,540
9,382,552
2,028,585
8,488,319
1,681,565
15,881,692
1,659,000
11,680,000
2,153,000
BORROWINGS
0
0
0
0
0
0
0
0
0
0
AVAILABLE FUNDS
11,126,133
23,475,669
11,011,446
21,395,204
10,086,739
16,676,349
17,530,232
11,579,794
13,364,877
9,804,192
SALARIES (2)
2,814,496
718,228
2,909,385
746,215
2,974,620
903,608
3,075,926
760,501
2,977,550
698,400
BENEFITS (2)
1,531,214
272,434
1,539,491
297,382
1,624,373
342,146
1,643,509
289,000
1,694,050
298,150
OPERATIONS & MAINTENANCE (2)
3,074,578
186,856
2,862,362
155,372
2,582,878
142,147
2,851,556
121,750
3,143,560
154,551
CAPITAL OUTLAY
5,012,307
6,560,714
9,015,152
9,790,468
6,051,200
DEBT SERVICE (2)
347,778
827,779
313,260
767,054
278,289
801,913
311,000
838,000
274,000
869,000
TOTAL CASH OUTLAYS
7,768,066
7,017,604
7,624,498
8,526,737
7,460,160
11,204,966
7,881,991
11,799,719
8,089,160
8,071,301
BALANCE BEFORE TRANSFERS
3,358,067
16,458,065
3,386,948
12,868,467
2,626,579
5,471,383
9,648,241
- 219,925
5,275,717
1,732,891
CAPITAL OUTLAY FUND TRANSFERS
- 1,778,647
1,778,647
- 1,838,001
1,838,001
- 1,025,664
1,025,664
- 8,019,918
8,019,918
- 3,647,393
3,647,393
ACCRUAL TO CASH ADJUSTMENT
49,473
1,129,908
49,473
288,316
47,625
3,423,747
56,553
- 148,800
56,553
0
MTBE CONTAMINATION /RATE STABILIZATION FUNDS
- 11,332,020
- 10,527,539
0
- 7,355,784
0
- 2,257,506
0
- 914,400
OPERATING AND CAPITAL OUTLAY RESERVES (3)
1,628,894
8,034,599
1,598,420
4,467,245
1,648,540
2,565,010
1,684,877
5,393,686
1,684,877
4,465,884
RESERVED FOR MTBE REMEDIATION (4)
11,332,020
10,527,539
7,355,784
2,257,506
RATE STABILIZATION RESERVE (4)
914,400
TOTAL RESERVE BALANCES
1,628,894
19,366,619
1,598,420
14,994,784
1,648,540
9,920,794
1,684,877
7,651,192
1,684,877
5,380,284
AMORTIZATION (NON -CASH ITEM)
49,473
49,473
49,473
49,473
49,473
DEPRECIATION (NON -CASH ITEM)
1,932,659
1,970,934
2,301,151
2,347,000
2,393,000
SOUTH TAHOE PU IC UTILITY DISTRICT
2012 Water - Reduced Capital, 0% rate increase.xls
NOTES:
1. Enterprise Fund revenue is from service charges. Capital Outlay Reserve revenue is from capacity
charges, capital improvement fees, grants and borrowings.
2. Capital Outlay includes the Engineering Dept expenditures. Enterprise Fund accounts for all other depts.
3. Interest expense is paid from the Enterprise Fund. Principle 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 reserves
are maintained for capital projects, MTBE projects and rate stabilization.
5. The MTBE Fund is exhausted by 2011/12 year end and the Rate Stabilization Fund begins. The Fund is equal to
10% of annual water rate revenue received.
See the Ten -Year projection pages for more extensive notes.