FY25 Proposed Budget

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, 2023 was $1,284,752 which was a 20.9% increase from the fiscal year 2022. The fiscal year 2024 fund balance is estimated to increase 18.0% from fiscal year 2023 to $1,515,809. These changes are primarily due to the level of capital project funding and the amounts that are retained in the capital reserves at year end. There also was a rate increase of $0.50 per month in fiscal year 2024. Fiscal year 2025 projected fund balance represents a 13.3% increase over the fiscal year 2024 estimated year end balance to finish at $1,716,909. This increase is also due to the fiscal year 2024 rate increase. 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 $597,961 in fiscal year 2024 and $662,961 in fiscal year 2025.

Fund Balance (1)

$2,000,000

$1,800,000

$1,600,000

$1,400,000

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

FY2022 FY2023 FY2024 FY2025 FY2026 Assigned $264,000 $432,961 $597,961 $662,961 $672,961 Unassigned $798,799 $851,791 $917,848 $1,053,948 $1,192,893 $-

(1) FY23 - FY25 figures are estimates

Revenues: The Stormwater Fund is primarily funded through a monthly Stormwater Utility fee. This fee was increased in fiscal year 2024 by $.50 per equivalent residential unit (ERU) per month to $5.50 per ERU and by $.25 per rental unit per month to $3.00 per rental unit per month. Commercial properties pay a $5.50 base fee and then $2.00 per ERU per month.

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