HomeMy WebLinkAbout16 Mid-year budget reviewAgenda •
TRUCKEE DONNER
Public Utility District
WORKSHOP
To: Board of Directors
From: Robert Mescher
Date: July 17, 2013
Subject: Mid -Year Budget Review of the District's Financial Performance
1. WHY THIS MATTER IS BEFORE THE BOARD
This is a mid -year review with the Board of the financial results as of June 2013.
2. HISTORY
The Board approved the FY13 Budget on November 16, 2011.
District Code requires a semiannual review of the budgeted revenue and expenditures
as compared to the year-to-date actual revenue and expenditures.
3. NEW INFORMATION
Overall, the District is on track with the FY13 budget. Staff is recommending no
adjustments to the approved FY13 budget at this time.
Attachment 1 is the budget comparison of the Electric Utility. Revenue was 53% of
budget as of June 30th and is projected to be right on target with the budget by year-
end. The mid -year expenses were 48% of budget and are projected slightly under
budget by the end of the year. The capital projects for the first half of the year were
32% of budget. Expenditures in capital projects will be about 92% of the budget for the
year. Facilities fees projects were postponed in prior years due to less development.
This year, several projects that qualify for funding from facilities fees have been
shifted from rate funded projects.
Attachment 2 is the budget comparison for the Water Utility. Revenue was 48% of
budget, and is projected to be the same as budgeted by year-end. The mid -year
expenses were 46% of budget and are also projected to the same as budget by the
end of the year. Expenditures in capital projects will be about 86% of the budget for
the year. The vehicle purchases exceeded the budget due to vehicles that were
budgeted in 2012 and purchased in 2013. Water meter installation is under budget.
The installation of the remaining 8% of residential water meters has been deferred into
future years to lower costs by utilizing existing district staff rather than contracting
outside labor.
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