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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 18-19.
<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 establish the Operating Reserve at approximately 10% of the adopted operating
<br />budget. For FY 18-19, the Operating Reserve is budgeted at $3,916,913,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 />ADOPTEDAMENDED
<br />BUDGETBUDGETBUDGET
<br />FY 17-18FY 17-18FY 18-19
<br />OPERATING RESERVES
<br /> Beginning Balance$12,603,539$14,112,787$11,581,093
<br /> User Fee Revenue32,000,00032,000,00033,260,000
<br /> Septage Revenue475,000475,000485,000
<br /> Other Revenue1,060,6101,060,6101,072,110
<br /> Interest100,000100,000150,000
<br /> Transfer from Improvements SDCs2,000,0002,000,0002,000,000
<br /> Transfer from Reimbursement SDCs21,35021,35022,845
<br /> Personnel Services(10,796,927)(10,796,927)(11,103,999)
<br /> Materials & Services(7,379,413)(7,408,932)(6,847,712)
<br /> Capital Outlay(107,860)(218,263)(163,706)
<br /> Interfund Transfers(14,850,000)(14,850,000)(15,000,000)
<br /> Debt Service - SRF Loan(1,450,180)(1,450,180)(1,446,158)
<br /> Debt Service - 2016 Revenue Bond(4,007,852)(4,007,852)(4,006,652)
<br />(900,000)(900,000)(900,000)
<br />Working Capital
<br />(515,000)(515,000)(515,000)
<br />Insurance Reserve
<br />SRF Loan Reserve(670,908)(670,908)(670,908)
<br />(2,000,000)(2,000,000)(2,000,000)
<br />Rate Stability Reserve
<br />(2,000,000)(2,000,000)(2,000,000)
<br />Rate Stabilization Reserve
<br /> Operating Reserve $3,582,359$4,951,687$3,916,913
<br />Page 20FY 18-19 BUDGET AND CIP
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