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Metropolitan Wastewater Management Commission Reserves
<br />
<br /> ADOPTED AMENDED PROPOSED
<br /> BUDGET BUDGET BUDGET
<br /> FY 03-04 FY 03-04 FY 04-05
<br /> RATE STABILITY RESERVE
<br /> Beginning Balance $0 $0 $0
<br /> Transfer From Operating Reserve 0 415,123 1,294,688
<br /> Transfer to Operating Reserve 0 0 0
<br /> Ending Balance $0 $415,123 $1,294,688
<br />
<br />CAPITAL RESERVE
<br />
<br />The Capital Reserve accumulates revenues to funds transferred from the Operating
<br />Reserve for the purpose of funding the CIP, Major Capital Outlay and Major
<br />Rehabilitation Program costs. The intent is to minimize rate impacts associated with
<br />fluctuating Capital Program costs in any given year. The FY 04-05 Budget includes a
<br />contribution from the Operating Reserve of $3,000,000 to maintain this reserve and to
<br />cover CIP and Major Rehabilitation Program costs. The beginning balance on July 1,
<br />2004 is projected to be $2,131,159. Additional budget detail on the CIP, Major Capital
<br />Outlay and Major Rehabilitation Program reserves is provided below.
<br />
<br /> ADOPTED AMENDED PROPOSED
<br /> BUDGET BUDGET BUDGET
<br /> FY 03-04 FY 03-04 FY 04-05
<br /> CAPITAL RESERVE
<br /> Beginning Balance $9,403,610 $9,846,742 $7,250,248
<br /> Transfer From Operating Reserve 750,000 750,000 3,000,000
<br /> Transfer From CSD 142,000 142,000 0
<br /> Interest 200,830 200,830 200,911
<br /> Revenue Bond Proceeds 0 0 6,500,000
<br /> Xfer to Fund 12 0 0 0
<br /> Funding For Capital Outlay 0 0 (250,000)
<br /> Funding For Major Rehab (182,000) (458,078) (350,000)
<br /> Funding For CIP (4,510,000) (5,030,416) (14,220,000)
<br /> Ending Balance $5,804,440 $5,451,078 $2,131,159
<br />
<br />* Revenue bond proceeds are indicated in order to balance budget expenditures. Because projected
<br /> expenditures are less than the budgeted amount, no bond sale is planned for FY 04-05.
<br />
<br />EQUIPMENT REPLACEMENT RESERVE
<br />
<br />The Equipment Replacement Reserve accumulates replacement funding for three types of
<br />equipment: 1) major/stationary equipment items costing less than $200,000 with useful
<br />lives of 20 years or less; 2) fleet vehicles maintained by the Eugene Wastewater
<br />Division; and 3) computers that serve the Eugene Wastewater Division. Contributions to
<br />the Equipment Replacement Reserve in the FY 04-05 budget total $390,105.
<br />Expenditures from the Equipment Replacement Reserve in FY 04-05 total $2,004,541.
<br />Additional budget detail is provided below.
<br />
<br /> April, 2004 DRAFT Page 35 FY 04-05 BUDGET AND CIP
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