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Metropolitan Wastewater Management Commission Reserves
<br />INSURANCE RESERVE
<br />The Insurance Reserve was established to set aside funds equivalent to the insurance deductible
<br />amount for property and liability insurance coverage, for losses per occurrence. The Insurance
<br />Reserve is set at $515,000 for FY 17-18.
<br />OPERATING RESERVE
<br />The Operating Reserve is used to account for accumulated operating revenues net of operating
<br />expenditures (including other reserves). The Commission’s adopted policy provides minimum
<br />guidelines to establishthe Operating Reserve at approximately 10% of the adopted operating
<br />budget. For FY 17-18, the Operating Reserve is budgeted at $3,582,359,which includes the 10%
<br />of total Personnel Services, Materials and Services, and Capital Outlay in accordance with
<br />Commission policy.
<br />EXHIBIT 5
<br />PROPOSED
<br />ADOPTED AMENDED
<br />BUDGET BUDGET
<br />BUDGET
<br />FY 16-17FY 16-17
<br />OPERATING RESERVES
<br />FY 17-18
<br /> Beginning Balance$10,684,205$11,988,887$12,603,539
<br /> User Fee Revenue31,140,00031,140,00032,000,000
<br /> Septage Revenue185,000185,000475,000
<br /> Other Revenue1,061,1101,061,1101,060,610
<br /> Interest85,00085,000100,000
<br /> Transfer from Improvement SDCs2,000,0002,000,0002,000,000
<br /> Transfer from Reimbursement SDCs20,19120,19121,350
<br /> Personnel Services(10,303,071)(10,303,071)(10,796,927)
<br /> Materials & Services(7,230,459)(7,359,859)(7,379,413)
<br /> Capital Outlay(163,100)(163,100)(107,860)
<br /> Interfund Transfers(11,550,000)(11,550,000)(14,850,000)
<br /> Debt Service - SRF Loan(1,486,462)(1,486,462)(1,450,180)
<br /> Debt Service - 2016 Revenue Bond(4,018,000)(4,018,000)(4,007,852)
<br /> Working Capital
<br />(900,000)(900,000)(900,000)
<br /> Insurance Reserve
<br />(515,000)(515,000)(515,000)
<br /> SRF Loan Reserve
<br />(670,908)(670,908)(670,908)
<br /> Rate Stability Reserve
<br />(2,000,000)(2,000,000)(2,000,000)
<br /> Rate Stabilization Reserve
<br />(2,000,000)(2,000,000)(2,000,000)
<br />Operating Reserve$4,338,506$5,513,788$3,582,359
<br />Page20FY 17-18BUDGET AND CIP
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