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FY2015 1st Quarter Operating Financial Reports
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Submitted to the Board for review and informational purposes are the financial reports for the quarter ended September 30, 2014. The reports provide a year to date comparison between the approved FY/15 budget and actual expenditures through September 30th. The reports also include revenue and expenditure projections to June 30, 2015. The projections are based on actual, trend, and historical information. As with any estimates, this information is subject to change.
Fund 21 General Operating Fund
Revenues:
First quarter rate revenues are $2.2 million above the actuals for the same period in FY/14. This revenue increase includes increased revenue from water sales of $1.2 million, San Juan Chama Strategy implementation $.25 million, and Sewer revenue $.77 million. The FY/15 rate revenues are up from the FY/14 revenues for the same time period due to two months of the rate increase to the base rate approved by the Board for FY15 and slight increase in water usage as compared to FY14 due to a 4% or 400 million gallon increase in consumption as compared to the same 3-month period of FY/14. Revenues are projected to increase at a minimum of $1 million a month due to the increase in the base rate, however at this time the projection for rate revenue is $2.5 million less than budgeted basing the last quarter consumption levels at the FY14 levels. Though, this projection may change if the FY15 trend continues throughout the year.
Miscellaneous Revenues budget projection increased in FY15 from FY14 levels by $4 million which is attributable to the pending sale of Water Authority property in FY15. However, Miscellaneous Revenues are down by $1.4 million for the 1st quarter as compared to the same period of FY14; this is due to the reduced sale of water to the Bureau of Reclamation. Projected revenues for Miscellaneous Revenue at this time will continue to be projected at FY15 budget levels. App...
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