Canton, Massachusetts · Saved source text
Enterprise Fund Operating Results as of Mar 31 2020
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Source page 1
TOWN OF CANTON, MASSACHUSETTS
DEPARTMENT OF FINANCE
TOWN ACCOUNTANT
MEMORIAL HALL KATHLEEN D. BUTTERS
801 WASHINGTON STREET (781) 575-6605
CANTON MA 02021
WILLIAM R. SCOLLINS, III FAX (781) 575-6608 ASST. TREASURER/COLLECTOR
FINANCE DIRECTOR PHONE (781)575-6610 SUSAN DESJARDINS
TEL: (781) 575-6612 (781) 821-5006
INFORMATION
SYSTEMS MANAGER
LOUIS M. JUTRAS
(781) 821-5069
MEMORANDUM
TO: Board of Selectmen
FROM: Randy Scollins, Finance Director
DATE: April 27, 2020
SUBJECT: Enterprise Funds’ Operating Results as of March 31, 2020
The attached report shows the enterprise funds’ operating results through the third quarter of
fiscal 2020 compared to the same period for fiscal 2019.
The water enterprise’s budgeted deficit of $235,000 for fiscal 2020 was due to cash reserves
appropriated for cash capital projects. For the third quarter a surplus of $141 thousand is being
reported, which is less than last year’s positive position of $274 thousand due to lower irrigation
revenues and higher MWRA assessments.
The sewer enterprise’s budgeted deficit of $200,000 for fiscal 2020 was due to cash reserves
appropriated for a cash capital project. The actual deficit through the third quarter was $162
thousand, slightly less than the $386 thousand deficit a year ago.
The rink enterprise’s budgeted deficit of $70,000 for fiscal 2020 was due to cash reserves used
to fund on-going operating expenses while the rink remained closed from the February 2015
roof collapse. The rink enterprise experienced an operating surplus of $33 thousand through
the third quarter of fiscal 2020 primarily due to interest income earned on the insurance
proceeds received.
Please advise if you have any questions or comments concerning this information.
Attachment
cc: Charles Aspinwall, Town Administrator
Kathy Butters, Town Accountant
Liz Francis, Parks & Recreation Director
Tim McKenna, Chair, Finance Committee
Mike Trotta, DPW SuperintendentSource page 2
ENTERPRISE FUNDS' OPERATING BUDGETS - Qtr. Ending March 31, 2020
CURRENT FISCAL YEAR PRIOR FISCAL YEAR
FISCAL Actuals Actuals FISCAL Actuals Actuals
2020 as of as % 2019 as of as %
DESCRIPTION BUDGET 3/31/2020 of Budget BUDGET 3/31/2019 of Budget
WATER REVENUE 7,058,470 5,231,580 74.1% 6,667,549 5,833,338 87.5%
SALARIES & WAGES 976,720 789,525 80.8% 926,018 813,388 87.8%
MWRA ASSESSMENT 2,137,222 1,719,747 80.5% 1,887,795 1,696,873 89.9%
DEBT SERVICE 2,265,970 1,294,270 57.1% 2,281,132 1,410,727 61.8%
CHARGES FROM GENERAL FUND 536,298 402,224 75.0% 584,844 487,370 83.3%
OTHER EXPENSES 1,142,260 830,718 72.7% 987,760 1,014,926 102.8%
TOTAL WATER OPERATING EXPENSES 7,058,470 5,036,484 71.4% 6,667,549 5,423,285 81.3%
CASH CAPITAL 235,000 54,462 23.2% 364,000 136,503 37.5%
TOTAL WATER ENTERPRISE EXPENSES 7,293,470 5,090,946 69.8% 7,031,549 5,559,788 79.1%
WATER SURPLUS/(DEFICIT) (235,000) 140,634 -59.8% (364,000) 273,550 -75.2%
SEWER REVENUE 6,734,962 5,163,257 76.7% 6,646,625 5,524,645 83.1%
SALARIES & WAGES 480,694 321,844 67.0% 454,159 346,815 76.4%
MWRA ASSESSMENT 4,661,549 3,717,368 79.7% 4,433,841 3,987,463 89.9%
DEBT SERVICE 863,566 794,816 92.0% 1,083,956 980,842 90.5%
CHARGES FROM GENERAL FUND 329,454 247,091 75.0% 326,670 272,225 83.3%
OTHER EXPENSES 399,699 152,164 38.1% 347,999 309,680 89.0%
TOTAL SEWER OPERATING EXPENSES 6,734,962 5,233,283 77.7% 6,646,625 5,897,024 88.7%
CASH CAPITAL 200,000 91,648 45.8% 200,000 13,628 6.8%
TOTAL SEWER ENTERPRISE EXPENSES 6,934,962 5,324,931 76.8% 6,846,625 5,910,653 86.3%
SEWER SURPLUS/(DEFICIT) (200,000) (161,674) 80.8% (200,000) (386,008) 193.0%
RINK REVENUE 0 38,234 0.0% 0 41,928 0.0%
SALARIES & WAGES 10,000 0 0.0% 0 0 0.0%
DEBT SERVICE 0 0 0.0% 6,180 60 0.0%
CHARGES FROM GENERAL FUND 0 0 0.0% 0 0 0.0%
OTHER EXPENSES 60,000 5,260 8.8% 9,250 5,510 59.6%
TOTAL RINK OPERATING EXPENSES 70,000 5,260 7.5% 15,430 5,570 36.1%
CASH CAPITAL 0 0 0.0% 0 0 0.0%
TOTAL RINK ENTERPRISE EXPENSES 70,000 5,260 7.5% 15,430 5,570 36.1%
RINK SURPLUS/(DEFICIT) (70,000) 32,974 -47.1% (15,430) 36,358 -235.6%
ATMDATA - 4-27-20 - UPDATED.xlsx enterprises 4/27/2020