2013â2014 BIENNIAL BUDGET - the City of Tukwila

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2013-2014 Biennial Budget City of Tukwila, WashingtonATTACHMENT DCity of TukwilaWATER ENTERPRISE FUND2013 - 2018 Analysis in 000'sREVENUES 2013 2014 2015 2016 2017 2018 Totals(1) +10% +10% +10% +10% +10% +10%Monthly Water ChargesCascade Water Alliance (CWA) 2,186 2,310 2,402 2,498 2,623 2,755 14,774Regular City Water 3,026 3,207 3,464 3,706 3,965 4,243 21,611Subtotal Water 5,212 5,517 5,866 6,204 6,588 6,998 36,385Other Miscellaneous Revenue 130 130 150 170 200 220 1,000Interlocal Ags\PWTF\Grants - 1,725 - - - - 1,725Water Connection Fees (2) 50 50 25 25 25 10 185Total Revenues 5,392 7,422 6,041 6,399 6,813 7,228 39,295EXPENDITURESCWA Purchased Water (3) 2,186 2,310 2,402 2,498 2,623 2,755 14,774Water Operations & Maintenance 1,786 1,827 1,881 1,928 2,005 2,086 11,513Debt Service (4) 544 545 690 302 302 302 2,685Interfund Utility Tax (5) 10% 534 565 602 637 679 722 3,739Engineering Labor (7) 74 76 78 80 83 85 476Subtotal 5,124 5,323 5,653 5,445 5,692 5,950 33,187Water Capital - CIP Program 1,473 1,776 1,028 1,105 867 860 7,109Total Expenditures 6,597 7,099 6,681 6,550 6,559 6,810 40,296FUND BALANCEChange in Working Capital (a) (1,205) 323 (640) (151) 254 418 (1,001)Beginning Balance 4,000 2,795 3,118 2,479 2,327 2,581 4,000Ending Balance 2,795 3,118 2,479 2,327 2,581 3,000 3,000Fund Balance Components:Reserved (b) 20% of revenue 1,028 1,078 1,139 1,208 1,280 1,363 1,363Unreserved 1,767 2,040 1,339 1,119 1,302 1,637 1,637Ending Balance 2,795 3,118 2,479 2,327 2,581 3,000 3,000(a) Revenues in excess of (less than) expenditures(b) Annual reserve balance requirement equals 20% of the prior year operating revenues.Page 361
2013-2014 Biennial Budget City of Tukwila, WashingtonATTACHMENT D-1NOTES TO WATER ENTERPRISE FUND1) As water consumption is reduced each year through conservation, our revenue is flat. Ratesreflect increases of 10% for 2013 through 2018. These rate increases are essential to sustain ourreserve balance and cover any possible increases from Cascade Water Alliance (CWA). We willcontinue to review the annual rate model to confirm that the proposed increases are necessary.Future water purchased at additional costs will be passed on to ratepayers. We have identifiedCascade Water Alliance’s revenues and expenditures to better reflect the actual water chargesand the respective increases. CWA has proposed rate increases of 6.2% in 2013 and 5.7% in 2014.2) Connection fees are estimated for the Allentown/Foster Point and Duwamish projects.3) Cascade Water Alliance is split out to identify the actual costs of purchased water. CWA hasscheduled increases in their six-year planning model that will affect our water rates.4) Debt schedule includes Public Works Trust Fund (PWTF) loans and Bonds.Water Debt Service includes: Expires 2013 20141995 E Marginal Bond 2/1/15 385,293.75 386,603.132003 PWTF Duwamish (20%) 7/1/21 15,104.69 15,032.422004 PWTF Allentown (26%) 7/1/24 80,463.02 80,059.892006 Bond Allentown (26%) 12/31/26 63,375.00 63,271.00Total $544,236.46 $544,966.445) An Interfund Utility Tax was approved by Ordinance No. 2258 in October 2009 for the water,sewer, and surface water utilities. Ordinance 2298 amended that ordinance in July 2010. Grossrevenues were taxed 15% from December 31, 2008 through April 30, 2010 and are currently taxed10% from May 1, 2010 through December 31, 2015.6) The Working Capital Reserve Fund’s policy was updated in 2012 per Resolution No. 1774 tomaintain an adequate fund balance in each of the enterprise funds. For the Enterprise Funds, theunrestricted fund balance shall equal or exceed 20% of the previous year’s revenue, exclusive ofsignificant non-operating, non-recurring revenues.7) The Senior Water/Sewer Engineer’s salary and benefits are split evenly between the waterdepartment and the sewer department.Water Enterprise FundThe City’s Enterprise Funds account for utility operations that are self-supported through usercharges. The utilities are financed and operated like a private business enterprise which requiresperiodic determination of revenues earned; expenses incurred, and net income for capitalmaintenance, public policy, management control and accountability. The Water Fund accounts foroperations and capital improvements to provide water to a portion of City residents. King CountyWater District 125 and Highline Water District also supply water to City residents.Page 362
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2013â2014 BIENNIAL BUDGET - the City of Tukwila

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2013â2014 BIENNIAL BUDGET - the City of Tukwila