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SOUTH BEND WATER WORKS (Fund #620,622,624,625 & 629)
<br />(continued)
<br />2005 2006 2006 Salary Salary Salary Other 2007
<br />Actual Projection Budget Ordinance Supplemental Ordinance Changes Budget
<br />WATER WORKS SINKING FUND (Fund #625)
<br />Debt Service-1993 Bond 522,240 535,990 535,990 0 0 0 11,540 547,530
<br />Debt Service-1997 Bond 2,225,790 2,223,115 2,223,115 0 0 0 2,490 2,225,605
<br />Debt Service-2000 SRLF 187,448 187,448 187,448 0 0 0 0 187,448
<br />Debt Service-2002 Bond 458,315 460,834 460,834 0 0 0 1,721 462,555
<br />Paying Agent Fees 1,674 9,105 2,500 0 0 0 0 2,500
<br />Debt Service-2006 Bond 0 120,546 362,726 0 0 0 (6,077) 356,649
<br />Debt Service -Proposed 2007 0 0 0 0 0 0 590,000 h 590,000
<br />Total Debt Service 3,395,467 3,537,038 3,772,613 0 0 0 599,674 4,372,287
<br />Total Debt Service Increase/(Decrease)
<br />Debt Service Increase/(Decrease) as a Percent
<br />599,674
<br />15.9
<br />WATER WORKS CAPITAL FUND (Fund #622)
<br />Main Extensions 238,533 795,601 200,000 0 0 0 (200,000) 0
<br />Water Meters 124,076 217,900 0 0 0 0 0 0
<br />New Wells 10,924 47,000 150,000 0 0 0 (150,000) 0
<br />Building Improvements 5,156 0 0 0 0 0 0 0
<br />Motor Vehicles 0 0 106,100 0 0 0 (106,100) 0
<br />Office Equipment & Computer Equip. 30,508 24,853 11,300 0 0 0 (11,300) 0
<br />Operational Equip. and Other Capital 137,800 86,551 82,000 0 0 0 (82,000) 0
<br />Total Capital Expenditures 546,997 1,171,905 549,400 0 0 0 332,000 0
<br />Total Exp. -Operating, Debt & Capital 12,543,903 13,640,730 13,574,345 45,575 25,459 5,678 1,317,122 14,086,778
<br />Total Expenditures Increase/(Decrease) -excluding Capital
<br />Expenditures Increase/(Decrease) as a Percent- excluding Capital
<br />1,061,833
<br />8.2
<br />Revenue Over/(Under)Oper. Exp. 713,746 2,573,761 1,476,272 104,164
<br />Revenue Over/(Under)Total Exp. 166,749 1,401,856 926,872 104,164
<br />NOTES:
<br />a -Represents adjustments to income to incorporate a 22.9 % fee increase.
<br />b -Represents an special pay increase Deputy Director.
<br />c -Includes an average cost increase of 4 % for the City's Self-Insurance Health Plan plus any necessary changes from last year's budget
<br />regarding coverage options chosen by employees (i.e., family, single or rebate).
<br />Also includes an increase of the City's mandated contributions to the State's PERF plan which was 4.50 % of total salary in 2006 to 5.50
<br />in 2007. This rate is determined by the Indiana Board of Trustees of PERF on an annual basis.
<br />d -Represents adjustment to accurately reflect anticipated increase in expense.
<br />e -Reflects that general service types have increased. The Master Plan ($60k), Wellhead Protection ($49k), and a Water Leak Survey ($70) are
<br />scheduled for updates in 2007.
<br />f -PILOT is calculated by applying the City's tax rate to the utility's net book value (NBV) of its fixed assets. Water Work's NBV
<br />of $56,487,418 as of 12/31 /05 decreased .1 % from 12/31 /04. Also, the tax rate used by the City remaind the at the same from 06, 2.11.
<br />g -Taxable receipts will increase as the value of services increase.
<br />h -Reflects issuance of bond financing to fund water main projects, water treatment plant upgrades and miscellaneous
<br />construction projects.
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