To: TVMWD <strong>Board</strong> of Directors From: Richard W. Hansen, General Manager Date: December 8, 2010 Subject: YTD <strong>District</strong> Budget Monthly Status Report For Action Fiscal Impact Funds Budgeted Information Only Cost Estimate: $ Requested Action: Receive, approve, and file the YTD <strong>District</strong> Budget Status Report for the period ending November 30, 2010. Discussion: Memorandum Attached for your review is the YTD <strong>District</strong> Budget Status Report for period ending November 30, 2010. The November 1, 2010 principal and interest on the COP’s were paid on October 28, 2010. The final interest payment for FY 2010-2011 is due in April 2011. Due to the payment schedule for Dues, Subscriptions & Fees, Insurance and Principal/Interest Expense, the YTD actuals are higher than expected. These line items are not expected to exceed budget.
REVENUES 2010-2011 Annual 2010-2011 2010-2011 YTD Budget Percent Balance Actual All Funds of Budget Remaining OPERATING REVENUES <strong>Water</strong> Sales 20,178,379 45,896,704 44.0% 25,718,325 MWD RTS Standby Charge 61,208 2,844,245 2.2% 2,783,037 MWD Capacity Charge Assessment 514,200 1,234,080 41.7% 719,880 TVMWD Fixed Charges 574,656 689,589 83.3% 114,933 Hydroelectric Revenue 108,171 400,000 27.0% 291,829 NON-OPERATING REVENUES Subvention Revenue 109,589 1,600,000 6.8% 1,490,411 Bond Indebtedness Revenue 784,662 828,336 94.7% 43,674 Investment Income 180,688 469,000 38.5% 288,312 Notes Receivable - Principal 97,769 223,106 43.8% 125,337 Pumpback O&M/Reservoir #2 Reimbursement - 10,000 0.0% 10,000 Grants 3,096 - N/A (3,096) Six Basins Administrative 39,744 106,183 37.4% 66,439 Other Revenue 79 - N/A (79) TOTAL REVENUES 22,652,241 54,301,243 9.1% 31,649,002 EXPENSES THREE VALLEYS MUNICIPAL WATER DISTRICT DISTRICT BUDGET - FISCAL YEAR 2010-2011 Month Ending November 30, 2010 OPERATING EXPENSES MWD <strong>Water</strong> Purchases 18,439,970 41,517,659 44.4% 23,077,689 MWD RTS Charge 1,332,499 2,844,245 46.8% 1,511,746 MWD Capacity Charge 617,040 1,234,080 50.0% 617,040 Miramar Treatment O & M 433,704 1,096,152 39.6% 662,448 Miramar Compensation & Benefits 459,161 1,180,831 38.9% 721,670 Hydroelectric Facilities 6,547 51,257 12.8% 44,710 Administrative Compensation & Benefits 676,191 1,804,782 37.5% 1,128,591 Internal/External Communication 108,591 318,200 34.1% 209,609 Directors Compensation & Benefits 91,588 310,298 29.5% 218,710 Office Supplies & Maintenance 71,200 165,950 42.9% 94,750 Planning & Resources 91,005 302,040 30.1% 211,035 Professional Services 83,088 191,696 43.3% 108,608 Dues, Subscriptions & Fees 47,725 74,291 64.2% 26,566 Insurance 48,834 54,975 88.8% 6,141 Chino Basin Resource Development - 54,000 0.0% 54,000 Training & Safety 14,646 53,200 27.5% 38,554 NON OPERATING EXPENSES Principal/Interest Expense 1,965,403 2,215,458 88.7% 2,215,458 Bond Administration Fee - 2,200 0.0% 2,200 Six Basin Administrative 29,500 106,183 27.8% 98,983 Pumpback O&M/Reservoir #2 Expenses 5,482 10,000 54.8% 4,518 RESERVE REPLENISHMENT Capital Investment Program Reserve - 1,225,394 0.0% 1,225,394 CAPITAL INVESTMENT Asset Repair & Replacement 367,757 1,717,922 21.4% 1,716,754 TOTAL EXPENSES 24,889,931 56,530,813 8.3% 33,995,174 NET INCOME (LOSS) BEFORE TRANSFERS (2,237,690) (2,229,570) (4,467,260) TRANSFER IN FROM OPERATING RESERVES - 100,000 100,000 TRANSFER IN FROM RATE STABILIZATION RESERVE - 699,734 699,734 TRANSFER IN FROM ENCUMBERED RESERVES - 1,430,613 1,430,613 NET INCOME (LOSS) AFTER TRANSFERS $ (2,237,690) $ 777 $ (2,236,913) **This budget is prepared on a modified cash-basis of accounting, which is a basis of accounting other than generally accepted accounting principles (GAAP).
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