Canton, Massachusetts · Saved source text
Enterprise Funds Operating Results as of Mar 31 2019
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Source page 1
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DEPARTMENT OF FINANCE
_ ~ KATHLEEN D. BUTTERS
o ~gN70N~~~ ~' MEMORIAL HALL TOWN ACCOUNTANT
801 WASHINGTON STREET kbuttersCto~~~n.canton.ma.us
CANTON, MA 02021 (781)57-6605
J AMES R. MURGIA PHONE: 781-575-6610
FINANCE DIRECTOR FAX: 781-_575-6608 SUSAN E. DESJARDINS
jmurgiaCCto«~n.canton.ma.us town.canton.ma.us ASST.TREASURER/COLLECTOR
(781)_575-6612 sdesjardinsC~town.canton.ma.us
(781)821-5006
LOUIS M.JUTRAS
I NFORMATION
MEMORANDUIV~ SYSTEMS MANAGER
Ijulras@town.canton.ma.us
(781)821-5069
TO: Board of Selectmen
FROM: James Murgia, Finance Directory -~~
,1
DATE: April 26, 2019
SUBJECT: Enterprise Funds' Operating Results as of March 31, 2019
The attached report shows the enterprise funds' operating results for the first nine months of
fiscal 2019 compared to fiscal 2018.
The water enterprise's budgeted deficit of $364,000 was due to cash reserves appropriated for
cash capital projects. The actual surplus for the first nine months was $254,234 which
compares favorably to last year's deficit of $248,635.
The sewer enterprise's budgeted deficit of $200,000 was due to cash reserves appropriated for
a cash capital project. The actual deficit for the first nine months was $947,873, slightly more
than the $761,721 deficit a year ago.
The water and sewer assessments are paid to the MWRA over ten months. However, since we
encumber the entire year assessments, the actual amounts include what has been paid to date
plus the balance due the MWRA for the year.
The rink enterprise's budgeted deficit of $15,430 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 $36,245 during the first nine months of
fiscal 2019 primarily due to interest income earned on the insurance proceeds received.
Please let me know if you have any questions or comments concerning this information.
JRM/ej
Attachment
cc: Charles Aspinwall, Town Administrator
Rob Barker, Chair, Finance Committee
Kathy Butters, Town Accountant
Liz Francis, Parks &Recreation Director
Mike Trotta, DPW SuperintendentSource page 2
ENTERPRISE FUNDS° OPERATING BUDGETS
CURRENT FISCAL YEAR PRIOR FISCAL YEAR
FISCAL Actuals Actuals FISCAL Actuals Actuals
2019 as of as % 2018 as of as
DESCRIPTION BUDGET 3/31/2019 of Budget i BUDGET 3/31/2018 of Budget
WATER REVENUE 6,667,549 5,663,473 84.9% 6,957,882 5,960,657 'i 85.7%
SALARIES &WAGES 926,018 726,834 78.5% 948,271 627,016 I 66.1%
MWRAASSESSMENT 1,887,795 1,884,292 99.8% 2,548,346 2,551,203 100.1%
DEBT SERVICE 2,281,132 1,360,727 ~, 59.7% 2,358,680 1,403,732 59.5%
CHARGES FROM GENERAL FUND 584,844 438,633 75.0% 514,825 386,119 75.0%
OTHER EXPENSES 987,760 1,075,825 108.9% 987,760 1,032,773 104.6%
TOTAL WATER OPERATING EXPENSES 6,667,549 5,486,311 82.3% 7,357,882 6,000,843 81.6%
CASH CAPITAL 364,000 (77,072) -21.2%, 655,000 208,449 31.8%
TOTAL WATER ENTERPRISE EXPENSES 7,031,549 5,409,239 76.9% 8,012,882 6,209,292 77.5%
WATER SURPLUS/(DEFICIT) (364,000) 254,234 , -69.8% (1,055,000) (248,635) 23.6%
SEWER REVENUE 6,646,625 5,325,982 80.1% 6,536,733 5,756,100 88.1
SALARIES &WAGES 454,159 I 304,481 67.0% 459,130 ' 225,292 49.1%
MWRA ASSESSMENT 4,433,841 4,425,854 99.8% 4,244,707 4,252,646 100.2%
DEBT SERVICE 1,OS3,956 980,842 90.5%, 1,126,032 1,016,076 90.2%
CHARGES FROM GENERAL FUND 326,670 I 245,003 75.0%I 358,865 269,149 75.0%
OTHER EXPENSES 347,999 318,140 91.4% 347,999 396,493 113.9%
TOTAL SEWER OPERATING EXPENSES 6,646,625 6,274,320 94.4% 6,536,733 6,159,656 94.2%
CASH CAPITAL 200,000 ' (465) -0.2% 404,000 358,165 8~.7%
TOTAL SEWER ENTERPRISE EXPENSES 6,846,625 6,273,855 91.6% 6,940,733 6,517,821 93.9%
SEWER SURPLUS/(DEFICIT) (200,000) (947,873) 473.9% (404,000) (761,721) 188.5%
RINK REVENUE ~ 0 '~ 41,928 0.0% 0 18,534 0.0%
SALARIES &WAGES 0 1,331 0.0% ' 0 0' 0.0%
CHARGES FROM GENERAL FUND 0 0 0.0% 0 0 0.0%
DEBT SERVICE 6,180 60 1.0% 6,360 159 2.5%
OTHER EXPENSES 9,250 4,292 46.4%' 13,550 4,269 31.5%
TOTAL RINK OPERATING EXPENSES 15,430 5,683 36.8% 19,910 4,428 22.2%
CASH CAPITAL 0 0 0.0% 0 0 0.0%
TOTAL RINK ENTERPRISE EXPENSES 15,430 5,683 36.8%' 19,910 4,428 22.2%
RINK SURPWS/(DEFICIT) (15,430) 36,245 -234.9%, (19,910) 14,106 -70.8%
4/26/2019