FY11 Budget Overview for Sweetwater Springs Water District: Key Highlights and Updates
The Draft FY11 Budget Presentation for Sweetwater Springs Water District outlines the fiscal outlook for the upcoming year. Key elements include no significant surprises from FY10, a mid-year grant from RDA/RRROC for Capital Improvement Program IV-B, and a carryover for CIP IV-A. Revenues and operational expenses are projected to remain consistent with the previous budget, with no changes in water rates or assessments. The focus is on stability in operating expenses, with adjustments in salaries and supplies to reflect real costs. The public is invited to review and comment on the budget before final approval in May.
FY11 Budget Overview for Sweetwater Springs Water District: Key Highlights and Updates
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Presentation Transcript
Draft FY11 Budget Presentation March 2010 1
SWEETWATER SPRINGS WATER DISTRICT Review of the FY10 Budget • No Big Surprises (Well Rehabilitations) • Grant from RDA/RRROC in Mid Year for CIP IV-B • CIP IV-A Carryover • Projected Revenues and Operations Expenses Similar to Budgeted • Reserve Policy Formalized 2
SWEETWATER SPRINGS WATER DISTRICT Highlights of the Draft FY11 Budget • Following the Format of the FY10 Budget • Small Changes in Format • Reserve Policy • Reserves, Fund and Loan Balances Identified and Conformed to Reserve Policy • No Change in Water Rates, Charges and Assessments • Water Sales Expected to Decrease • Less Interest • Small Increase in Salaries and Benefits • Services and Supplies Scrutinized to Reflect Actual Costs and Cost Savings • Capital Improvement Program at $1.5 Million – Uses Engineer’s Estimate 3
SWEETWATER SPRINGS WATER DISTRICT Multi-Year Outlook 8
SWEETWATER SPRINGS WATER DISTRICT Next Steps • Draft Budget on Website. • Public Review and Comment Invited. • Review Draft Budget at April Meeting • Final Budget Presentation and Approval at May Meeting • Comments that District Staff Receive Presented as Part of Final Budget Presentation 9
SWEETWATER SPRINGS WATER DISTRICT Summary • Draft FY11 Budget Uses FY10 Structure • Decreased Revenue; No Water Rate Changes, Less Sales • Operating Expenses Stable • CIP IV-B, Project 2, RDA/RRROC Grant • Reserve Policy - Reserves Above District Policy at $2.7 Million • Long-Term Picture Shows Approved CIP Completion 10
