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
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