FY 18 Annual Report

Storm Water

2018

CITY OF SPENCER, IOWA

Departmental Highlights

The Storm Water department was established to account for revenues and expenditures related to improvements to the City's storm sewer system. Primary revenue for the fund is a transfer of funds from the Sanitary Sewer Operations fund. The Fund has also advanced money to cover costs for storm sewer improvements that were specially assessed to adjacent property owners. The special assessment payments are receipted into the fund when received. The City currently has over 50 miles of storm sewer pipes installed. The primary expenditures coming from this fund are transfers to the Capital Projects funds to be disbursed through specific projects. During FY 18, the completion of the South Spencer Storm Sewer project was completed. That project included the creation of a detention basin adjacent to the municipal golf course, improvements within the golf course pond area and expansion of the detention basin south of Wal-Mart. The project was jointly funded through local funds as well as part of the State of Iowa's Sponsored project program. To be eligible for the Sponsored Project program, a qualifying entity must add a water quality component to a loan through the State Revolving Fund (SRF). The maximum amount of the project grant funding is 10% of the entity's SRF loan. If approved, the principal amount of the loan is increased by the grant amount while the interest amount is subsequently reduced by the same amount. The entity ends up paying the exact same amount back to the SRF as if the project never occurred. The City utilized the 2016 WTP SRF Loan as the base loan for this project. That project enabled the City to apply for Sponsored Project financing in the amount of $360,000.

Budget Review

Total expenditures for the department were $151,533.46 in FY 18, an increase of $147,361.36 (+3,532.06%) compared to FY 17. The Storm Water department primarily accounts for capital expenditures made for improving the city's storm water collection system. Capital projects that were related to the storm sewer system in FY 18 included the removal of a culvert at 11th St SE and the South Spencer Storm Waster improvements.

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