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Enterprise Funds FYE25 Operating Results memo pdf file
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Source page 1
DEPARTMENT OF FINANCE
TOWN OF CANTON, MASSACHUSETTS
SUSAN E. DESJARDINS
MEMORIAL HALL
ASST. TREASURER/COLLECTOR
801 WASHINGTON STREET sdesjardins@town.canton.ma.us
WILLIAM R. SCOLLINS III CANTON, MA 02021
FINANCE DIRECTOR (781) 821-5006
PHONE: 781-575-6610
rscollins@town.canton.ma.us LOUIS M. JUTRAS
FAX: 781-575-6608
(781) 575-6612 INFORMATION SYSTEMS MANAGER
town.canton.ma.us
ljutras@town.canton.ma.us
ALLYSON M. PODGURSKI
(781) 821-5069
TOWN ACCOUNTANT
apodgurski@town.canton.ma.us CODY M. PRATT
(781) 575-6605 ASSISTANT TOWN ACCOUNTANT
cpratt@town.canton.ma.us
(781) 821-5011
MEMORANDUM
TO: Honorable Town of Canton Select Board
FROM: Randy Scollins, Finance Director
DATE: August 25, 2025
SUBJECT: Enterprise Funds’ Fiscal 2025 Operating Results
The attached report contains the enterprise funds’ operating results for fiscal 2025 compared
to fiscal 2024. Also attached is a balance sheet report which was prepared for the
Department of Revenue to certify the enterprise funds’ “free cash reserve / retained
earnings” balances as of June 30, 2025.
The water enterprise’s budgeted deficit of $111,000 was due to retained earnings
appropriated for capital projects. The actual fiscal 2025 operating surplus was $1,035,676.
Revenue came in $1,015,542 more than budget and total expenses came in $20,224 less
than budget, yielding the result of beating budget by $1.035MM.
Water revenues were up 8.2%, or $840K, from prior year with increases in most categories.
This was the result with no rate increase in FY 2025 after a 27% increase in FY 2024.
Fiscal 2025’s results have the water enterprise fund ending the year with an estimated cash
reserve of $3.4 million which is 34% of expenses. The current target is 50% of expenses.
The sewer enterprise balanced budget had an operating surplus of $582,853. This was a
result of revenue coming in higher than budget by $407.7K with no rate increase, and $474K
higher than the prior year, and expenses coming in less than budget by $174K. Sewer’s end
of year cash reserve is estimated to be $3.96 million which is 52.7% of expenses. The
current target is 50% of expenses.
The rink enterprise had a balanced budget with no planned use of retained earnings.
Revenue came in $8.7K more than budget, and ended with a $36.6K surplus, due primarily
to expenses coming in less than budget by $28K. The rink’s end of year cash reserve
amounted to an estimated $149K.
Please advise if you have any questions or comments concerning this information.
Attachments
cc: Charles Doody, Town Administrator
Emilio Mauro, Chair, Finance Committee
Allyson Podgurski, Town Accountant
Tyler Radicioni, Parks & Recreation Director
Mike Trotta, DPW SuperintendentSource page 2
ENTERPRISE FUNDS' OPERATING BUDGET
CURRENT FISCAL YEAR PRIOR FISCAL YEAR
FISCAL FISCAL Actuals FISCAL FISCAL Actuals
2025 2025 VS. 2024 2024 VS.
DESCRIPTION BUDGET ACTUALS Budget BUDGET ACTUALS Budget
WATER REVENUE 10,100,151 11,115,693 1,015,542 9,818,663 10,275,696 457,033
SALARIES & WAGES 1,278,568 1,247,771 30,797 1,107,578 1,131,616 (24,038)
MWRA ASSESSMENT 2,751,185 2,757,416 (6,231) 2,488,876 2,501,834 (12,958)
DEBT SERVICE 3,527,251 3,526,643 608 3,755,170 3,739,339 15,831
CHARGES FROM GENERAL FUND 820,877 820,877 0 809,769 809,769 0
OTHER EXPENSES 1,722,270 1,727,220 (4,950) 1,657,270 1,414,361 242,909
TOTAL WATER OPERATING EXPENSES 10,100,151 10,079,927 20,224 9,818,663 9,596,920 221,743
CASH CAPITAL 111,000 111,000 0 83,000 83,000 0
TOTAL WATER ENTERPRISE EXPENSES 10,211,151 10,190,927 20,224 9,901,663 9,679,920 221,743
WATER SURPLUS/(DEFICIT) (111,000) 924,767 1,035,767 (83,000) 595,776 678,776
SEWER REVENUE 7,452,246 7,859,943 407,697 7,121,476 7,385,952 264,476
SALARIES & WAGES 691,581 633,013 58,568 658,429 550,597 107,832
MWRA ASSESSMENT 5,191,978 5,206,605 (14,627) 5,093,614 5,135,741 (42,127)
DEBT SERVICE 589,263 571,267 17,996 549,611 559,508 (9,897)
CHARGES FROM GENERAL FUND 460,925 460,925 0 391,323 391,323 0
OTHER EXPENSES 518,499 406,421 112,078 428,499 301,453 127,046
TOTAL SEWER OPERATING EXPENSES 7,452,246 7,278,231 174,015 7,121,476 6,938,622 182,854
CASH CAPITAL 124,000 122,859 1,141 0 0 0
TOTAL SEWER ENTERPRISE EXPENSES 7,576,246 7,401,090 175,156 7,121,476 6,938,622 182,854
SEWER SURPLUS/(DEFICIT) (124,000) 458,853 582,853 0 447,330 447,330
- -
RINK REVENUE 495,140 503,827 8,687 433,494 474,178 40,684
SALARIES & WAGES 120,500 99,576 20,924 119,000 121,256 (2,256)
DEBT SERVICE 106,201 106,201 0 103,702 103,701 1
CHARGES FROM GENERAL FUND 63,399 63,399 0 41,252 41,252 0
OTHER EXPENSES 205,040 198,013 7,027 169,540 171,167 (1,627)
TOTAL RINK OPERATING EXPENSES 495,140 467,189 27,951 433,494 437,376 (3,882)
CASH CAPITAL 0 0 0 0 0 0
TOTAL RINK ENTERPRISE EXPENSES 495,140 467,189 27,951 433,494 437,376 (3,882)
RINK SURPLUS/(DEFICIT) 0.00 36,638 36,638 0 36,802 36,802
ATMDATA - 8-20-25.xlsx FYE 25 Entpr's Summary 8/20/2025Source page 3
CANTON
Combining Balance Sheet - Enterprise Funds
as of June 30, 2025
(Unaudited)
Totals
SEWER WATER ICE RINK (Memorandum
Enterprise Fund Enterprise Fund Enterprise Fund Only)
ASSETS
Cash and cash equivalents 5,180,124.53 3,855,460.22 152,710.49 9,188,295.24
Investments 0.00
Receivables:
User Fees 288,797.40 321,723.15 610,520.55
Special assessments 4,086.39 4,086.39
Utility liens added to taxes 330,034.47 485,850.52 815,884.99
Other receivables 39,054.00 32,650.99 71,704.99
Amounts to be provided - payment of bonds 2,448,871.25 21,843,115.00 24,291,986.25
Total Assets 8,290,968.04 26,538,799.88 152,710.49 34,982,478.41
LIABILITIES AND FUND EQUITY
Liabilities:
Accounts payable 8,888.50 90,456.33 1,768.33 101,113.16
Accrued payroll and withholdings 14,108.14 28,988.22 1,553.85 44,650.21
Other liabilities 10,596.82 (9.65) 10,587.17
Deferred revenue:
User Charges 288,797.40 321,723.15 610,520.55
Special assessments 4,086.39 4,086.39
Utility liens added to taxes 330,034.47 485,850.52 815,884.99
Other receivables 39,054.00 32,650.99 71,704.99
Bonds payable 2,448,871.25 21,843,115.00 24,291,986.25
Total Liabilities 3,133,840.15 22,813,381.03 3,312.53 25,950,533.71
Fund Equity:
Reserved for encumbrances 349,760.11 349,760.11
Reserved for expenditures 847,100.00 255,400.00 1,102,500.00
Reserved for petty cash 25.00 25.00 50.00
Unreserved retained earnings 3,960,242.78 3,469,993.85 149,397.96 7,579,634.59
Total Fund Equity 5,157,127.89 3,725,418.85 149,397.96 9,031,944.70
Total Liabilities and Fund Equity 8,290,968.04 26,538,799.88 152,710.49 34,982,478.41