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Item # 7_1. <br />MEMORANDUM <br />-- -- <br />1~~` <br />TO: Mayor and City Council <br />FROM: Tim Simon, Finance Director <br />DATE: October 3rd, 201 I <br />SUBJECT: Enterprise Fund Budgets (Liquor and Wastewater) <br />The 2012 budgets for the liquor and wastewater operations will be presented and discussed <br />on Monday. The garbage fund budget will be presented at an upcoming meeting. Copies of <br />the goals, requested .budget worksheets, and capital improvements for the next several years <br />axe attached for your review. I will put the financial models on the overhead along with cash <br />balance charts. <br />Liquor Store <br />Dave Potvin, Liquor Store Manager, will be present to review the 2012 requested budget. In <br />addition, we will review the cash flow analysis of the Liquor Fund for the next several years. <br />The one significant change is the principal payment has increased due to the paying off of <br />the debt service on the bonds outstanding on July 1, 2012, which is the date they are callable. <br />Wastewater <br />Gary Leirmoe, Chief Operator, will be present to discuss the current year operating costs <br />and the anticipated capital improvement projects for the next couple of years. Contractual <br />services in the WWTP plant budget increased for a facility plan update. Every year we <br />update the staff time allocation to closely match the trends. <br />As part of the budget process and long-range financial planning, staff has reviewed the <br />customer user rates for the Wastewater Fund. Based on last year's forecasting and the <br />updated long-range plan, staff feels a 1.5% utility rate increase for this year will be sufficient <br />and consistent with prior year projections. <br />A number of capital improvement plan projects will be discussed. Please refer to the <br />summary sheet attached as Mr. Leirmoe and City Engineer Justin Femrite will discuss the <br />detail of the projects. In addition, Mr. Leirmoe will review the personnel request for a <br />jetting crew assistant position with a financial impact of $4,803. <br />N:\Public Bodies\City Council\Council RCA\Agenda Packet\10-03-2011\Liquorandwastewater2012budget[1].docx <br />