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Home My WebLink About5/28/02 . City of Farmington 325 Oak Street Farmington, MN 55024 A Proud Past - A Promising Future Committed to Providing High Quality, Timely and Responsive Service to All Of Our Customers AGENDA REGULAR WATER BOARD MEETING Tuesday, May 28, 2002 7:00 P.M. CITY COUNCIL CHAMBERS 1. Call to Order 2. Approve Agenda 3. Approve Minutes -regular meetings, March 25 & April 22, 2002 . 4. Continued Discussion Items a) Pump house 6 & 7 Facilities b) Wells 6 & 7 Update c) Daisy Knoll Tower 5. New Business 6. Approve Bills 7. Financial Report 8. OpeD Forum 9. Adjourn . Item 7 , CITY OF FARMINGTON . REVENUES AND EXPENDITURES ANALYSIS WATER FUND 04/30/2002 33% OF THE YEAR COMPLETE 2002 2002 %OF BUDGET ACTUAL BUDGET OPERATING REVENUES USER FEES 752,000 137.501 18.28% WATER PERMITS 20,000 6.255 31.28% METER SALES 100,000 29,288 29.29% TOTAL OPERATING REVENUE 872.000 173.044 19.84% NON OPERATING REVENUES WATER AVAilABILITY CHARGES 200,000 73,217 36.61% WATER MAIN TRUNK FEES 62.064 WATER TREATMENT PLANT FEES 29,136 SPECIAL ASSESSMENTS 200,000 4.812 2.41% INTEREST 200.000 68,139 34.07% ADMINISTRATIVE FINES OTHER 80,000 0.00% ANTENNA LEASE 20,000 12,598 62.99% TOTAL NON OPERATING REVENUE 700.000 249.966 35.71 % TOTAL All REVENUE 1,572,000 423,010 26.91 % EXPENDITURES SALARIES 90,594 25,205 27.82% OVERTIME 2.095 362 17.29% . BENEFITS 13,473 3.615 26.84% EQUIPMENT SUPPLIES 96,950 52,019 53.66% OTHER SUPPLIES 2,000 4,091 204.54% CHEMICALS 48,985 16,067 32.80% FUEL 4,435 1,007 22.71 % POSTAGE 1,000 1,928 192.80% OUTSIDE PRINTING 6.910 1.800 26.05% PROFESSIONAL SERVICES 45.398 25,616 56.43% LEGAL 2,185 12 0.55% DUES & SUBSCRIPTIONS 2.536 2.840 111.99% SCHOOLS & CONFERENCES 1.050 292 27.81% EQUIPMENT MAINT 28,105 1.868 6.65% BUILDING RENTAL 4,420 2,000 45.25% MUNICIPAL SERVICES 1.294 469 36.28% ELECTRIC 50,299 14,335 28.50% COMMUNICATIONS 2,925 1,568 53.61% GAS 1,317 469 35.59% CAP IT AL OUTLAY 11.385 10,000 87.83% TOTAL EXPENDITURES 417.356 165.564 39.67% OTHER FINANCING USES DEBT SERVICE 86,520 CONSTRUCTION (Wells 6 & 7) 320,628 MISCELLANEOUS 7,083 TRANSFER FOR NEW FACILITY 14.683 4,894 TRANSFER FOR ADMINISTRATIVE FEES 38,500 12,833 TOTAL OTHER FINANCING USES 139,703 345,438 TOTAL EXPENDITURES & OTHER . FINANCING USES 557,059 511 ,002 INCREASE (DECREASE) TO RETAINED EARNINGS 1,014,941 (87,992) . City of Farmington Water Board Cash Analysis Total thru Total thru 12/31/2001 2002 04/30/2002 Operating Cash 1,581,140.78 338,023.00 1,919,163.78 Cash from Reservior Bonds Water Availability Charge 1,209,096.12 (242.599.00) 966,497.12 Water Benefit Charge 22.195.29 22.195.29 Water Main Trunk Charge 121.281.81 62,064.00 183,345.81 Water Treatment Plant 761,781.00 29.136.00 790,917.00 . Water fund Cash Balance 3.695,495.00 186,624.00 3.882,119.00 Water Construction Cash Balance Total Cash available to Water Board 3,695,495.00 3.882.119.00 . , CITY OF FARMINGTON, MINNESOTA . WATER FUND BALANCE SHEET December 31 , 2001 With Comparative Totals for December 31,2000 2001 2000 Assets Current assets: Cash $ 3,695,495 $ 2,892,172 Receivables: Unremitted special assessments 32,103 3,717 Delinquent special assessments 9,698 11.374 Deferred special assessments 211,972 141,342 Accounts 201,949 194,453 Due from other funds 21,899 Prepaid items 1,000 1,797 Total current assets 4,152,217 3.266.754 Property, plant and equipment, at cost: land 163,884 163,884 Buildings 189.879 189.879 Equipment 266,398 266.399 Distribution system 7.924,702 6,862,826 Construction in progress 56.835 833,789 Total cost 8,601,698 8,316,777 . Less accumulated depreciation (1.921,856) (1.687,854) Net property, plant and equipment 6.679,842 6,628,923 Total assets $ 10,832,059 $ 9.895.6n Liabilities and Fund Equity Current liabilities: Accounts & contracts payable $ 48,532 $ 88,208 Salaries payable 1,148 759 Escrows payable 17,000 17.000 Due to other governments 848 919 Bonds payable-current 140.000 145,000 Total current liabilities 207,528 251,886 Noncurrent liabilities: Bonds payable 1,400,000 1,540,000 Total liabilities 1 ,607,528 1.791.886 Fund EqUity: Contributed capital 2.650,750 2.723,424 Retained earnings: Unreserved 6,573.781 5,380.367 Total fund equity 9,224.531 8,103.791 . Totalliablilities and fund equity $ 10,832.059 $ 9,895,677 , CITY OF FARMINGTON, MINNESOTA . WATER FUND STATEMENT OF REVENUES. EXPENSES, AND CHANGES IN RETAINED EARNINGS Year Ended December 31, 2001 With Comparative Totals for the year ended December 31,2000 2001 2O.QQ Operating revenues: Charges for services $ 1,366.326 $ 970,429 Other 96.364 96.738 Total operating revenues 1,462.690 1 ,067.167 Total gross profit and operating revenues 1,462,690 1,067,167 Operating expenses: Personal services 94,575 69,459 Supplies 153,294 104,480 Other services and charges 226.173 295,886 Depreciation 234,002 157,718 Total operating expenses 708.044 627.543 Operating income (loss) 754,646 439,624 . Non-operating revenues (expenses) Special assessments 249.371 210,752 Investment income 208,843 200.504 Miscellaneous revenues 40.246 32.822 Bond interest (86,520) (94,330) Miscellaneous expenses (2.846) Total non-operating revenues (expenses) 409.094 349.748 Income (loss) before operating transfers 1,163,740 789.372 Operating transfers in (out): General fund (35,000) (27.500) Debt service fund (8.000) Capital projects fund 783,007 Total operating transfers in (out) (43.000) 755.507 Net income (loss) 1,120.740 1.544,879 Credit arising from transfer of depreciation to contributed capital 72.674 72,674 Net increase (decrease) in retained earnings 1,193,414 1,617,553 Retained earnings, January 1 5,380.367 3.762,814 . Retained earnings, December 31 $ 6,573.781 $ 5,380,367 . . . City of Farmington 325 Oak. Street, Farmington, MN 55024 (651) 463-7111 Fax (651) 463-2591 www.ci.farmington.mn.us TO: Water Board FROM: Lee M. Mann, P.E. - Director of Public Works/City Engineer SUBJECT: Reschedule May meeting DATE: April 24, 2002 Please be advised that the regular Water Board meeting for May will be moved from Monday, May 27 to Tuesday, May 28 at 7:00 PM. If you have questions or comments, or you are unable to attend the meeting, please contact me at City Hall. Respectfully submitted, ~m~ Lee M. Mann, P .E. Director of Public Works/City Engineer Cc: Farmington Independent Lakeville Life & Times Management Team Post Receptionist . . . City of Farmington 325 Oak Street, Farmington, MN 55024 (651) 463-7111 Fax (651) 463-2591 www.ci.farmington.mn.us TO: Lee M. Mann, P.E. - Director of Public Works/City Engineer FROM: Robert Shirley, Water Board Chair SUBJECT: Reschedule May meeting DATE: April 24, 2002 Due to the Memorial Day Holiday, I am rescheduling the May Water Board meeting from Monday, May 27 to Tuesday, May 28 at 7:00 PM.