FY2022

The Water Fund maintains two reserved funds: one restricted fund for debt service and one assigned one for capital reserves. The debt service reserve will have an estimated $3,755,375 in restricted fund balance at the end of fiscal year 2022 for revenue bond covenants. The capital reserve is estimated to have $2,927,500 in assigned fund balance at the end of fiscal year 2022. Contributions into the Capital Reserve are projected at $1,300,000 in fiscal year 2022 and $1,500,000 in fiscal year 2023. Revenues: The Water Division is funded by water user fees, per the current schedule:

Minimum Monthly Charge (MMC)

Minimum Usage Rates

Meter Size (inches)

FY21 Rate

FY22 Rate

Cubic Feet First 100/mo. 101-3,000/mo. 3,001 and over

FY21 Rate

FY22 Rate

$7.79 $8.52

$8.19 $8.95

5/8 (residential)

MMC (varies) $3.64/100 cu. ft. $2.61/100 cu. ft.

MMC (varies) $3.82/100 cu. ft. $2.74/100 cu. ft.

3/4

$10.04 $20.01 $26.91 $49.74 $86.75 $174.56

$10.54 $21.01 $28.26 $52.23 $91.09 $183.29

1

1½

Single Purpose Meter Charges

FY21 Rate

FY22 Rate

2 3 4 6

MMC (varies) $3.64/100 cu. ft.

MMC (varies) $3.82/100 cu. ft.

First 100/mo. Over 101/mo.

A flat 5% rate increase was budgeted for fiscal year 2021 for all usage levels and meter sizes; however, this rate increase was delayed until fiscal year 2022 due to the COVID- 19 pandemic. An intra-city charge was also added in fiscal year 2022 to charge the Sewer Fund for customer service costs. This will add $638,690 in new revenue to the Water Fund. Approximately 91% of Water operations are funded through charges for services. This was lowered from 99% due to the new intra-city charges.

Revenue Trends

$0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000

2018 Actual

2019 Actual

2020 Actual 2021 Revised 2022 Budget 2023 Projected

Charges for Services

Use of Money & Property Intergovernmental

Miscellaneous

Other Financial Sources

Use of Money & Property primarily consists of interest on investments. Other Financial Sources are proceeds from the sale of debt and from the sale of assets.

414