FY2022

STORMWATER FUND The Stormwater Fund is an enterprise fund that accounts for the activities of the City’s Stormwater Utility. Fund Balance: The Stormwater Fund’s fund balance on June 30, 2020 was $1,088,776 which was a 16.85% increase from the fiscal year 2019. The fiscal year 2021 fund balance is estimated to increase 28.98% from fiscal year 2020 to $1,404,315. These increases are primarily due to the level of capital project funding and the amounts that are retained in the capital reserves at year end. Fiscal year 2022 projected fund balance represents a 27.99% decrease over the fiscal year 2021 estimated year-end balance to finish at $1,011,187. This decrease is due to a high level of capital project funding planned in 2022. In fiscal year 2020, a Capital Reserve fund was created in the Stormwater Fund to set funds aside for future infrastructure replacement. These funds are shown below as assigned. The Capital Reserve balance is expected to be at $389,000 in fiscal year 2021 and $399,000 in fiscal year 2022.

Fund Balance (1)

$1,600,000

$1,400,000

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 $110,000 $389,000 $399,000 $709,000 Unassigned $795,950 $931,736 $978,776 $1,015,315 $612,187 $710,479 $0 Assigned $0 $0

(1) FY21 - FY23 figures are estimates

Revenues: The Stormwater Fund is primarily funded through a monthly Stormwater Utility fee. This fee was last increased in fiscal year 2020 by $.50 per equivalent residential unit (ERU) per month to $5.00 per ERU and by $.25 per rental unit per month to $2.75 per rental unit per month. Commercial properties pay a $5.00 base fee and then $2.00 per ERU per month. No rate increases are included in the fiscal year 2022 budget.

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