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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 />EQUIPMENT REPLACEMENT RESERVE
<br />Beginning Balance $8,876,727 $9,057,346 $8,489,195
<br />Annual Equipment Contribution 325,805 325,805 221,719
<br />Annual Vehicle Contribution 136,693 136,693 142,173
<br />Annual Computer Contribution 18,600 18,600 26,213
<br />Interest 158,302 158,302 275,998
<br />Equipment Purchases (1,026,630) (1,326,249) (2,004,541)
<br />Ending Balance $8,489,497 $8,370,497 $7,150,757
<br />
<br />SYSTEM DEVELOPMENT CHARGE (SDC) RESERVE
<br />
<br />SDCs are required as part of the MWMC Intergovernmental Agreement. They are
<br />connection fees charged to new users to recover costs associated with construction of
<br />plant capacity, and are limited to funding Capital Programs. The purpose of the SDC
<br />Reserve is to collect and account for SDC revenues separately from other revenue
<br />sources, in accordance with statutory requirements. Since 1997, the Commission has
<br />maintained a SDC structure that is a combination of "Reimbursement" and
<br />"Improvement" fee components. Estimated SDC revenues for FY 04-05 total
<br />$1,112,440. Budgeted FY 04-05 Capital costs to be paid with SDCs are $3,625,000.
<br />The projected beginning SDC Reserve balance on July 1, 2004 is $3,013,335.
<br />Additional budget detail is provided below.
<br />
<br /> ADOPTED AMENDED PROPOSED
<br /> SDC RESERVE BUDGET BUDGET BUDGET
<br /> FY 03-04 FY 03-04 FY 04-05
<br /> IMPROVEMENT SDCs
<br /> Beginning Balance $363,264 $401,617 $489,495
<br /> SDCs Collected 80,495 80,750 105,700
<br /> Interest 7,383 7,383 6,061
<br /> Funding For Capital 0 0 0
<br /> Ending Balance $451,142 $489,750 $601,256
<br /> REIMBURSEMENT SDCs
<br /> Beginning Balance $4,934,401 $5,205,570 $4,972,400
<br /> SDCs Collected 769,505 769,250 1,006,740
<br /> Interest 47,022 47,022 57,939
<br /> Materials and Services 0 (1,500) 0
<br /> Transfer To CSD 0 0 0
<br /> Funding For Capital (2,125,000) (2,145,292) (3,625,000)
<br /> Ending Balance $3,625,928 $3,875,050 $2,412,079
<br />
<br /> April, 2004 DRAFT Page 36 FY 04-05 BUDGET AND CIP
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