Master Proposed Book FY2023

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, 2021 was $1,487,988 which was a 36.67% increase from the fiscal year 2020. The fiscal year 2022 fund balance is estimated to decrease 35.49% from fiscal year 2021 to $959,860. 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. Fiscal year 2023 projected fund balance represents a 35.84% increase over the fiscal year 2022 estimated year-end balance to finish at $1,303,882. This increase is due to a lower level of capital project funding planned in 2023. 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 $264,000 in fiscal year 2022 and $674,000 in fiscal year 2023.

(1) FY22 - FY24 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 2023 budget.

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