Item 3: Ratification of MWMC Budget

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Metropolitan Wastewater Management Commission Budget Message objectives for compliance with the National Pollutant Discharge Elimination System (NPDES) permit issued to MWMC and the two Cities. Finally, this budget implements the Commission’s adopted Financial Plan policies regarding reserves, asset management, and capital financing. * Includes three equipment replacement contributions totaling $782,564, a Capital Reserve contribution of $8,354,604, $16,884 from Reimbursement SDC Compliance Charge to Operating and $6,409,596 transfers from Operating and Improvement SDCs to finance debt service. ** In governmental budgeting, projects are fully budgeted in the fiscal year in which the contract is awarded. At the end of each fiscal year, unspent funds are carried forward until the project is completed. This provides budget appropriations necessary for MWMC to commit to contracts that span more than one fiscal year. Therefore, although the budgeted amount in the capital budget for FY 11-12 is $27,435,037, which includes Equipment Replacement, Major Rehab and Major Capital Outlay totaling $1,502,755, the capital project spending for FY 11-12 is only expected to total about $9,920,259. *** Because all capital projects for which contracts will be awarded in FY 11-12 must be fully budgeted in FY 11-12, the revenue requirements, and in this case, any necessary borrowing, must also be shown in the budget year. Respectfully submitted, Susie Smith, MWMC Executive Officer Page 2 DRAFT FY 11-12 BUDGET AND CIP