2012-2013 Budget - City of Saginaw MI

REVENUE BUDGET SUMMARYWATER OPERATIONS AND MAINTENANCEThe Water Operations and Maintenance Fund’s majorrevenue sources are charges based upon the size of themeter, “readiness-to-serve charges” and the quantity ofwater consumed “commodity charge”. The net ratecharged for treated and filtered water to consumerswithin the limits of the City is the sum of the readinessto-serveand the commodity charge. Other revenuesources included are: sale of junk, turn on charges,material and services, interest, interest on investments,interest and penalties, gain on bond refunding, andavailable and unrestricted retained earnings. For FY2012/2013, the Water Operations and MaintenanceFund’s revenues are projected to decrease $401,751, or -1.78% from the FY 2011/2012 approved budget. Thereduction is a direct result of a reduction in the amountof monies appropriated to be use from retained earningsas well as the city did not increase their water rates forthe year. To slightly offset the reduction in revenues, inFY 2012 the City received a $10,570,000 Water SupplySystem Revenue Bond for the purpose of acquiring andconstructing improvements to the City’s Water SupplySystem. Funds from retained earnings will beappropriated for those projects.SUMMARY OF REVENUES2008/09 2009/10 2010/11 2011/12 2011/12 2011/12 2012/13Actual Actual Actual Approved Adjusted Projected ApprovedGrants 14,487 0 214 0 0 0 0Services - Sales 12,097,581 13,504,686 14,778,846 14,453,470 14,514,969 14,425,237 15,414,000Interest and Rents 257,900 154,016 175,038 141,000 141,000 139,274 141,000Other Revenues (106,642) 6,355 67,800 7,995,693 11,502,085 10,450,302 6,633,412REVENUE TRENDSTotal Revenues 12,263,326 13,665,057 15,022,168 22,590,163 26,158,054 25,014,813 22,188,41225,000,000Total Water Revenues Since 200220,000,00015,000,00010,000,000Total Water Revenues5,000,000-2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013266