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<br />Metropolitan Wastewater Management Commission
<br />
<br />Reserves
<br />
<br />OPERATING RESERVE
<br />
<br />The Operating Reserve is used to account for accumulated operating revenues net of operating
<br />expenditures (including other reserves). The Commission has adopted a policy of budgeting an
<br />Operating Reserve balance approximately equal to 10% of the adopted operating budget.
<br />
<br />The Operating Reserve for FY 06-07 is budgeted at 10% of total Personal Services, Materials
<br />and Services, and Capital Outlay in accordance with Commission policy. Additional budget
<br />detail for the Operating Reserve is provided below.
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<br />EXHIBIT 10
<br />
<br /> ADOPTED AMENDED PROPOSED
<br /> BUDGET BUDGET BUDGET
<br />OPERATING RESERVES FY 05-06 FY 05-06 FY 06-07
<br />Beginning Balance 2,922,618 3,799,621 4,552,144
<br />User Fee Revenue 15,700,000 15,700,000 16,854,000
<br />Septage Revenue 450,000 450,000 420,000
<br />Other Revenue 546,809 546,809 544,615
<br />Interest 64,900 64,900 271,000
<br />Transfer from Capital Reserve 3,150,000 3,150,000 4,000,000
<br />Personal Services (1,149,816) (1,378,556) (1,580,755)
<br />Materials & Services (11,514,752) (12,034,749) (11,459,496)
<br />Capital Outlay 0 (22,000) 0
<br />Interfund Transfers (3,483,556) (3,483,556) (3,829,646)
<br />Debt Service (762,500) (762,500) (1,473,431)
<br />WORKING CAPITAL (700,000) (700,000) (700,000)
<br />RATE STABILITY RESERVE (852,884) (852,884) (1,645,188)
<br />BOND RESERVE (3,150,000) (3,150,000) (4,000,000)
<br />STATE REVOLVING FUND LOAN RESERVE 0 0 (590,000)
<br />OPERATING RESERVE 1,220,819 1,327,085 1,363,243
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<br />Page 38 PROPOSED FY 06-07 BUDGET AND CIP
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