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Metropolitan Wastewater Management Commission Reserves
<br />INSURANCE RESERVE
<br />The Insurance Reserve was established to set aside funds to cover the insurance deductible
<br />amount for property and liability insurance coverage, for losses per occurrence. The Insurance
<br />Reserve is set at $1.5 million for FY 19-20.
<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 guidelines to
<br />establish the Operating Reserve at a minimum target of two months expenses. For FY 19-20, the
<br />Operating Reserve is budgeted at $3,151,064,which includes approximately two months of total
<br />Personnel Services, Materials and Services, and Capital Outlay in accordance with Commission
<br />policy.
<br />EXHIBIT 5
<br />PROPOSED
<br />ADOPTEDAMENDED
<br />BUDGETBUDGETBUDGET
<br />FY 18-19FY 18-19FY 19-20
<br />OPERATING RESERVES
<br /> Beginning Balance$11,581,093$13,363,149$12,432,240
<br /> User Fee Revenue33,260,00033,260,00034,050,000
<br /> Septage Revenue485,000485,000650,000
<br /> Other Revenue1,072,1101,072,1101,262,210
<br /> Interest150,000150,000180,000
<br /> Transfer from Improvements SDCs2,000,0002,000,0002,000,000
<br /> Transfer from Reimbursement SDCs22,84522,84523,909
<br /> Personnel Services(11,103,999)(11,103,999)(11,836,299)
<br /> Materials & Services(6,847,712)(7,032,163)(6,807,610)
<br /> Capital Outlay(163,706)(163,706)(20,000)
<br /> Interfund Transfers(15,000,000)(15,000,000)(17,000,000)
<br /> Debt Service - SRF Loan(1,446,158)(1,446,158)(936,928)
<br /> Debt Service - 2016 Revenue Bond(4,006,652)(4,006,652)(4,010,855)
<br />(900,000)(900,000)(900,000)
<br />Working Capital
<br />(515,000)(1,500,000)(1,500,000)
<br />Insurance Reserve
<br />(670,908)(435,603)(435,603)
<br />SRF Loan Reserve
<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 $3,916,913$4,764,824$3,151,064
<br />Page 20 FY 19-20 BUDGET AND CIP
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