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Draft FY10 Budget Presentation

Draft FY10 Budget Presentation. April 2009. 1. SWEETWATER SPRINGS WATER DISTRICT. Review of the FY09 Budget. No Big Surprises (Emergency Generator Repair, Some Thefts) Projected Revenues and Operations Expenses Similar to Budgeted Private Placement Loan in August

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Draft FY10 Budget Presentation

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  1. Draft FY10 Budget Presentation April 2009 1

  2. SWEETWATER SPRINGS WATER DISTRICT Review of the FY09 Budget • No Big Surprises (Emergency Generator Repair, Some Thefts) • Projected Revenues and Operations Expenses Similar to Budgeted • Private Placement Loan in August • CIP IV-A – @$2 Million, 50% Grant Funded, Project 2 Below Engineer’s Estimate 2

  3. SWEETWATER SPRINGS WATER DISTRICT Structural Highlights of the Draft FY10 Budget • Format of the Budget Changed • Operating and Capital Improvement Budgets Combined • Draft Reserve Policy • Reserves, Fund and Loan Balances Identified • Water Rates Restructured – Restructuring is Revenue Neutral, Rate Increase Included 3

  4. SWEETWATER SPRINGS WATER DISTRICT Financial Highlights of the Draft FY10 Budget • Operating Revenues Increased – 2.5% COLA Increase and 50% CDRC Increase, Reduction in Water Sales (Drought) • Salaries and Benefits Increased to Reflect COLA • Services and Supplies Scrutinized to Reflect Actual Costs and Cost Savings – Small Reduction • Debt Costs Increased - PPL • Capital Improvement Program at $1.05 Million – Uses Engineer’s Estimate • Reserves above District Policy at $2.1 Million • PPL at $940,399 • Budget Does Not Include Grants or Loans 4

  5. SWEETWATER SPRINGS WATER DISTRICT 5

  6. SWEETWATER SPRINGS WATER DISTRICT 6

  7. SWEETWATER SPRINGS WATER DISTRICT 7

  8. SWEETWATER SPRINGS WATER DISTRICT Multi-Year Outlook 8

  9. SWEETWATER SPRINGS WATER DISTRICT Next Steps • Draft Budget on Website. • Public Review and Comment Invited. • Final Budget at May Meeting • Public Hearing and Approval of Water Rates Prior to Final Budget Presentation • Comments that District Staff Receive Presented as Part of Final Budget Presentation 9

  10. SWEETWATER SPRINGS WATER DISTRICT Summary • Draft FY10 Budget Has New Structure • Increased Revenue; Water Rate Restructuring. • Operating Expenses Stable • CIP IV-B, Project 1, No Grants or New Loans • Draft Reserve Policy - Reserves Above District Policy at $2.1 Million • Expenses Greater than Revenues Due to CIP – Not Sustainable • Continue to Seek Grants for CIP 10

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