Canton, Massachusetts · Saved source text
09-30-2019 Enterprise Funds Operating Results (PDF)
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Source page 1
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DEPARTMENT OF FINANCE
~fi~~y=:~3 MEMORIAL HALL
Town ~ccouN~raNT
KATHLEEN D. BUTTERS
801 WASHINGTON STREET (781)~7~-6605
CANTON MA 020? 1
JAMES R. MURGIA FAX (781) X75-6608 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)821-069
MEMORANDUM
TO: Board of Selectmen
FROM: James Murgia, Finance Director
DATE: October 10, 2019
SUBJECT Enterprise Funds' Operating Results as of September 30, 2019
The attached report shows the enterprise funds' operating results for the first quarter of fiscal
2020 compared to fiscal 2019.
The water enterprise's budgeted deficit of $235,000 for fiscal 2020 was due to cash reserves
appropriated for cash capital projects. The actual deficit for the first quarter was $1.4 million
which is more than last year's deficit of $720,000 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 for the first quarter was $3.3 million,
slightly less than the $3.4 million deficit a year ago.
The water and sewer assessments are paid to the MWRA over ten months. However, since we
encumber the entire year's 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 $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 $10,400 during the first
q uarter of fiscal 2020 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.
J RM/ej
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
CURRENT FISCAL YEAR PRIOR FISCAL YEAR
FISCAL Actuals Actuals FISCAL Actuals Actuals
2020 as of as % i 2019 as of ~ as
DESCRIPTION BUDGET 9/30/2019 of Budget BUDGET 9/30/2018 of Budget
WATER REVENUE 7,058,470 1,727,951 24.5% 6,667,549 1,869,176 28.0%
SALARIES &WAGES 976,720 246,999 25.3% 926,018 196,902 21.3%
MWRAASSESSMENT 2,137,222 2,136,764 100.0% 1,887,795 ' 1,874,192 99.3%
DEBT SERVICE 2,265,970 222,574 9.8% 2,281,132 195,594 8.6%'
CHARGES FROM GENERAL FUND 536,298 134,075 25.0% 584,844 146,211 25.0%
OTHER EXPENSES 1,142,260 718,907 62.9% 987,760 573,024 58.0%
TOTAL WATER OPERATING EXPENSES 7,058,470 3,459,319 49.0% 6,667,549 2,985,923 44.8%
CASH CAPITAL 235,000 j (369,194) -157.1% 364,000 ' (396,345) -108.9%
TOTAL WATER ENTERPRISE EXPENSES 7,293,470 3,090,125 42.4% 7,031,549 2,589,578 36.8%
WATER SURPLUS/(DEFICIT) (235,000) (1,362,175) 579.6% (364,000) (720,402) 197.9%
SEWER REVENUE 6,734,962 1.779,155 26.4%' 6,646,625 ~ 1,698,786 25.6%
SALARIES &WAGES 480,694 89,811 18.7% 454,159 74,250 16.3%
MWRAASSESSMENT 4,661,549 4,641,516 99.6% 4,433,841 4,467,793 100.8%
DEBT SERVICE 863,566 243,744 28.2% 1,083,956 402,162 37.1%
CHARGES FROM GENERAL FUND 329,454 82,364 25.0% 326,670 81,668 25.0%
OTHER EXPENSES 399,699 80,559 20.2% ~ 347,999 75,994 21.8%
TOTAL SEWER OPERATING EXPENSES 6,734,962 5,137,994 76.3% i 6,646,625 5,101,867 76.8%
CASH CAPITAL 200,000 (59,816) -29.9% 200,000 (45,215) -22.6%
TOTAL SEWER ENTERPRISE EXPENSES 6,934,962 5,078,179 73.2% 6,846,625 5,056,652 ~ 73.9%
SEWER SURPLUS/(DEFICIT) (200,000) (3,299,024) 1649.5%J (200,000) (3,357,866) 1678.9%
RINK REVENUE 0 10,601 0.0% 0 7,409 0.0%
SALARIES &WAGES 10,000 0 0.0% 0 0 0.0%
CHARGES FROM GENERAL FUND 0 0 0.0% 0 0 0.0%
DEBT SERVICE 0' 0 0.0% 6,180 0 0.0%
OTHER EXPENSES 60,000 201 0.3% 9,250 3,749 40.5%
TOTAL RINK OPERATING EXPENSES 70,000 201 0.3% 15,430 3,749 24.3%
CASH CAPITAL 0 0 0.0% 0 0 ~ 0.0%
TOTAL RINK ENTERPRISE EXPENSES 70,000 201 0.3% 15,430 3,749 24.3%
RINK SURPLUS/(DEFICIT) (70,000) 10,400 -14.9%~ (15,430) 3,660 -23.7%
ATMDATA.xlsx enterprises 10/9/2019