FY 17 Annual Report

Business Type Activities Funds

2017

CITY OF SPENCER, IOWA

WASTEWATER TREATMENT RESERVE

FUND #615

FUND INFORMATION

This fund accounts for major improvements/projects at the City's Wastewater Treatment Plant. The sole funding source for the fund is surplus sewer operations revenue and will fluctuate on a yearly basis, depending on how well the sewer operations fund performs. In FY17, the City was able to transfer more money into this account than had been originally budgeted. This was due in part to spending less then the revenue received in the Sewer fund. The City is putting additional focus on this fund balance due to future projects. In FY17, the City purchased a new raw sample pump for the plant. The planned transfer for the 2016 WTP Project of $299,487 did not occur since the project did not need any extra revenue. The City is currently borrowing money from the SRF for the project and once we hit our limit on that borrowing, the WTP Reserve fund will supplement nay additional expenditures.

CURRENT BUDGET

YEAR TO DATE

% OF

FY 2016 ACTUAL

ACTUAL

BUDGET

REVENUES

USE OF MONEY MISCELLANEOUS OTHER FINANCING

8,000.00

14,016.71

175.21

13,314.36

-

- -

-

- -

315,291.09

273,000.00

328,605.45

TOTAL REVENUES

8,000.00

287,016.71

3,587.71

EXPENDITURES COMMODITIES CAPITAL OUTLAY

50,142.02 - 298,347.65

-

12,500.00 299,487.00

3,912.00

31.30

TRANSFERS

-

-

348,489.67

311,987.00

3,912.00

1.25

TOTAL EXPENDITURES

Fund Balance

INCREASE / (DECREASE)

BALANCE

BALANCE

REVENUES

EXPENDITURES

JULY 1, 2016

JUNE 30, 2017

283,104.71

1,466,786.04

287,016.71

3,912.00

1,749,890.75

BUSINESS TYPE ACTIVITIES