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FY11 Budget Presentation

FY11 Budget Presentation. May 2010. 1. SWEETWATER SPRINGS WATER DISTRICT. Review of the FY10 (Current Year) Budget. No Big Surprises (Well, Filter Rehabilitations) Grant from RDA/RRROC in Mid Year for CIP IV-B CIP IV-A Carryover

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FY11 Budget Presentation

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  1. FY11 Budget Presentation May 2010 1

  2. SWEETWATER SPRINGS WATER DISTRICT Review of the FY10 (Current Year) Budget • No Big Surprises (Well, Filter Rehabilitations) • Grant from RDA/RRROC in Mid Year for CIP IV-B • CIP IV-A Carryover • Projected Revenues and Operations Expenses Similar to Budgeted • Reserve Policy Formalized 2

  3. SWEETWATER SPRINGS WATER DISTRICT Budget Process • Staff Develops Preliminary Budget • Review with ad hoc Finance Committee • Draft Budget Introduced at March Meeting • Draft Budget Placed on Website • Financial Analyses/Scenarios Presented at April Meeting • Final Budget Presentation and Approval at May Meeting 3

  4. SWEETWATER SPRINGS WATER DISTRICT Highlights of the FY11 Budget • Following the Format of the FY10 Budget • Small Changes in Format • Reserve Policy • Reserves, Fund and Loan Balances Identified and Conformed to Reserve Policy • No Change in Water Rates, Charges and Assessments • Water Sales Expected to Decrease • Less Interest • Small Increase in Salaries and Benefits • Services and Supplies Scrutinized to Reflect Actual Costs and Cost Savings • Capital Improvement Program at $1.5 Million – Uses Engineer’s Estimate 4

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  9. SWEETWATER SPRINGS WATER DISTRICT Multi-Year Outlook 9

  10. SWEETWATER SPRINGS WATER DISTRICT Summary • FY11 Budget Uses FY10 Structure • Decreased Revenue; No Water Rate Changes, Less Sales • Operating Expenses Stable • CIP IV-B, Project 2, RDA/RRROC Grant • Reserve Policy - Reserves Above District Policy at $2.7 Million • Long-Term Picture Shows Approved CIP Completion 10

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