HomeMy WebLinkAbout10, FY10 Financial Results
Action Item # 10 February 16, 2011 Overs-and Budget Carryand Request for Transfers End Financial Results -FY10 YearConsideration of the
FY10 Year 2-authorized to carryOctober 5, 2010 the $300,000 UAMPS refund was •year review July 21, 2010; no changes-Mid•budget were authorized February 17, 2010overs and transfers from
FY09 surplus to FY10 -Carry•FY10 & FY11 budget was adopted November 18, 2009•Background / History Overs-Transfers and Budget CarryEnd Financial Results & -
New Information Overs-Transfers and Budget CarryEnd Financial Results & -FY10 Year 3
New Information (cont.)Overs-Transfers and Budget CarryEnd Financial Results & -FY10 Year 4
Fiscal Impact Overs-Transfers and Budget CarryEnd Financial Results & -FY10 Year 5 capital items yet to be deliveredportion can be carried forward into FY11 to pay for Electric ultimately
reducing upward rate pressure in the future, and a FY10 surpluses can be used to increase reserves, •
Recommendation Overs-Transfers and Budget CarryEnd Financial Results & -FY10 Year 6 FY11General Fund for equipment ordered in late FY10; received in Appropriate $70,000 of the FY10 Electric
surplus to the FY11 •Capital Reserve FundTransfer $522,000 from the Water General Fund to the Water •Service Coverage Reserve Fund (operating reserve)Transfer $522,000 from the Water
General Fund to the Water Debt •Capital Reserve FundTransfer $98,000 from the Electric General Fund to the Electric •of the headquarters' roofGeneral Fund to reimburse the Water Utility
for the remaining 50% Transfer $216,739 from the Electric General Fund to the Water •Authorize the following transfers:
7 Overs-Transfers and Budget CarryEnd Financial Results & -FY10 Year
8 Example of a Percentage Variance 60%$ 12.00 $ 32.00 $ 20.00 Inc10%45.00 50.00 Exp10%$ 7.00 $ 77.00 $ 70.00 Rev% Var$ VarActualBudget Overs-Transfers and Budget CarryEnd
Financial Results & -FY10 Year