Stormwater Fund
For the Nine Months Ended June 30, 2022
Operating revenues are $5.90 million or 92% of the $6.38 million dollar budget, compared to prior year revenues of $6.16 million at 97% of the $6.33 million dollar budget. Operating revenues decrease from the prior year by ($261,265) or (4.2%). There was no stormwater assessment fee increase in the current fiscal year. Total expenses of $4.22 million are 26% of the $16.28 million dollar budget compared to the prior year of $3.48 million at 24% of the $14.77 million dollar budget. Total expenses increase $737,218 or 21.2% due to stormwater-related improvements. Stormwater projects including citywide drainage rehab. as well as equipment are now reported in the operating budget in the respective division effective October 1, 2021. Debt Service includes repayment on the 2016 and 2018 Bonds that funded stormwater capital improvement projects and a lease payment on a street sweeper, which is funded by CRA.
This fund does not receive a General Fund subsidy.
A total of $9.72 million dollars in reserves are planned to be used in FY2022 to fund operations and stormwater capital improvement projects. As of June 30, 2022, revenues exceed expenses by $1.72 million dollars.