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City of <br /> Elk=' Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 9.2 <br /> Agenda Section Meeting Date Prepared by <br /> Worksession October 21, 2013 Tim Simon, Finance Director <br /> Item Description Reviewed by <br /> 2014 Budget Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Continue 2014 budget discussions. <br /> Background/Discussion <br /> Following is an overview of the Wastewater Enterprise Fund and an update on the General Fund budget. <br /> Wastewater Enterprise Fund Budget: <br /> As part of the updated long-range plan, staff recommends a 3%utility rate adjustment for 2014 which is <br /> consistent with prior year projections. Capital improvement and maintenance projects will be discussed <br /> in detail. Staff has also updated the long-range financial model for the Wastewater Fund which is <br /> attached and incorporates the expansion of the facility. Please refer to the summary sheet attached. <br /> Administration—The only significant operating change is in the Personal Services line item. Time <br /> allocation was requested to be changed to 100% Chief Operator and 50%Lead Operator salary allocation <br /> to the Administration Budget. Staff recommends calling in the remaining two years of the outstanding <br /> series 2005B bonds on February 1, 2014,using funds on hand in the Wastewater Fund. <br /> Plant—Time allocation in the Personal Services line item was changed to 50%Lead Operator and 100% of <br /> the Operator positions, for ease of time entry with the new timekeeping software. The Operating Supplies <br /> line item continues to include ferric chloride which will be needed for the new permit requirements. <br /> Modification to the existing wastewater treatment facility is currently estimated at$12,619,000 and is <br /> included in the Capital Outlay line item. The following chart shows the proposed funding sources. <br /> Revenues <br /> State of MN Grant $3,000,000 <br /> Trunk Funds $1,000,000 <br /> Sewer Fund $3,000,000 <br /> Revenue bonds (15 yr.) $5,619,000 <br /> Total $12,619,000 <br /> Expenditures $12,619,000 <br /> Laboratory—No significant changes except the time reallocation. <br /> P a w E A E U s r <br /> NaA f RE] <br />