2013â2014 BIENNIAL BUDGET - the City of Tukwila

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2013-2014 Biennial Budget City of Tukwila, WashingtonATTACHMENT FCity of TukwilaSURFACE WATER ENTERPRISE FUND2013 - 2018 Analysis in 000'sREVENUES 2013 2014 2015 2016 2017 2018 Total+5% +10% +5% +10% +5% +10%Annual Billings (Current) (1) 3,833 4,217 4,427 4,870 5,114 5,625 28,086Other Revenues 19 20 30 50 75 75 269Grants/Bond Proceeds (2) 355 2,845 45 45 45 48 3,383Total Revenues 4,207 7,082 4,502 4,965 5,234 5,748 31,738EXPENDITURESOperations & Maintenance 1,667 1,752 1,790 1,879 1,954 2,033 11,075Debt Service (3) 315 314 473 472 470 470 2,514Interfund Utility Tax (4) 10% 385 424 446 492 519 570 2,836Engineering Labor (6) 275 285 192 201 211 217 1,381Subtotal 2,642 2,775 2,901 3,044 3,154 3,290 17,806SSWM Capital - CIP Program 2,485 4,354 1,216 1,755 1,263 2,464 13,537Total Expenditures 5,127 7,129 4,117 4,799 4,417 5,754 31,343FUND BALANCEChange in Working Capital (a) (920) (47) 385 166 817 (6) 396Beginning Balance 2,000 1,080 1,033 1,418 1,584 2,402 2,000Ending Balance 1,080 1,033 1,418 1,584 2,402 2,396 2,396Fund Balance Components:Reserved (b) 20% of revenue 738 770 847 891 984 1,038 1,038Unreserved 342 263 571 693 1,418 1,358 1,358Ending Balance 1,080 1,033 1,418 1,584 2,402 2,396 2,396(a) Revenues in excess of (less than) expenditures(b) Annual reserve balance requirement equals 20% of the prior year operating revenues.Page 365
2013-2014 Biennial Budget City of Tukwila, WashingtonATTACHMENT F-1NOTES TO SURFACE WATER ENTERPRISE FUND1) Reflects proposed rate increases of 5% in 2013, 2015, and 2017 and 10% for 2014, 2016, and 2018.We will continue with the annual rate model review to confirm that the proposed Surface Waterrate increases are necessary. The National Pollution Discharge Elimination System (NPDES)permit required by the State Department of Ecology is having a significant impact on the SurfaceWater fund.2) Potential grants and/or bond revenue. Included is the estimated Department of Ecology grantfor NPDES and annual grant funding of $44,000.00 from King County Flood Control ZoneDistrict. In 2014, the Public Works Trust Fund Loan revenue is included at $2,800,000.00 for theSoils Reclamation Facility.3) Debt schedule includes PWTF loans and the 2006 Bond.Debt Service includes: Expires 2013 20142004 PWTF Duwamish (15%) 7/01/21 12,118.44 12,060.462004 PWTF Cascade View Const. 7/01/24 235,472.79 234,362.072004 PWTF Allentown (12%) 7/01/24 39,444.47 39,258.412006 Bond Allentown (12%) 12/31/26 27,250.00 28,202.00Total $314,285.70 $313,882.944) 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 will be taxed 15% from December 31, 2008 through April 30, 2010 and taxed 10% fromMay 1, 2010 through December 31, 2015.5) 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.6) Cost of engineering to support capital projects, NPDES, and operation efforts in-house.Surface 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 Surface Water EnterpriseFund accounts for operations and capital improvements for the City’s storm drainage and surfacewater management function. Surface Water projects are required to meet Federal, State and localmandates. The largest contributor to the surface water enterprise fund is the City of Tukwila.Page 366
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2013â2014 BIENNIAL BUDGET - the City of Tukwila

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2013â2014 BIENNIAL BUDGET - the City of Tukwila