Canton, Massachusetts · Saved source text
Enterprise Fund Operating Results as of Dec 31 2019
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Source page 1
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D~PARTM~NT OF FINANCE
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801 WASHINGTON STREET
TOWN ACCOUNTANT
KATHLEEN D. BUTTERS
(781) X75-6605
CANTON MA 02021
WILLIAM R. SCOLLINS, III FAX (781) 575-6608 ASST. TREASURER/COLL~CTOR
FINANCE DIRECTOR PHONE (781)575-6610 SUSAN DESJARDINS
TEL: (781) 575-6612 (78 ]) 821-5006
INFORMATION
SYSTEMS MANAGER
LOUIS M. JUTRAS
(781)821-5069
MEMORANDUM
TO: Board of Selectmen
FROM: Randy Scollins, Finance Director ~~
DATE: January 28, 2020
SUBJECT: Enterprise Funds' Operating Results as of December 31, 2019
The attached report shows the enterprise funds' operating results through the second 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. The actual deficit for the second quarter was $895
thousand which is less than last year's slightly positive position 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 second quarter was $2.3
million, slightly more than the $2.1 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 $19,500 through the
second 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 -Quarter Ended 12/37/2079
CURRENT FISCAL YEAR PRIOR FISCAL YEAR
FISCAL Actuals Actuals FISCAL Actuals Actuals
2020 as of as % 2019 as of as
DESCRIPTION BUDGET 12/31/2019 of Budget BUDGET 12/31/2018 of Budget
WATER REVENUE 7,058,470 3,697,777 52.4% 6,667,549 4,085,359 61.3%
SALARIES &WAGES 976,720 533,987 54.7% 926,018 ' 476,867 51.5%
MWRAASSESSMENT 2,137,222 2,147,100 100.5% 1,887,795 1,876,558 99.4%
DEBT SERVICE 2,265,970 444,397 19.6% 2,281,132 446,933 19.6%
CHARGES FROM GENERAL FUND 536,298 268,149 50.0% 584,844 292,422 50.0%
OTHER EXPENSES 1,142,260 1,148,285 100.5% 987,760 1,050,044 106.3%
TOTAL WATER OPERATING EXPENSES 7,058,470 4,541,917 64.3% 6,667,549 4,142,824 62.1%
CASH CAPITAL 235,000 51,252 21.8% 364,000 (107,100) -29.4%
TOTAL WATER ENTERPRISE EXPENSES 7,293,470 4,593,169 63.0% 7,031,549 4,035,724 57.4%
WATER SURPLUS/(DEFICIT) (235,000) (895,393) 381.0% (364,000) 49,635 -13.6%
SEWER REVENUE 6,734,962 3,438,825 51.1% 6,646,625 3,541,898 53.3%
SALARIES &WAGES 480,694 205,969 42.8% 454,159 188,409 41.5%
MWRAASSESSMENT 4,661,549 4,641,516 99.6% 4,433,841 4,467,793 100.8%
DEBT SERVICE 863,566 426,558 49.4% 1,083,956 601,954 55.5%
CHARGES FROM GENERAL FUND 329,454 164,727 50.0% 326,670 163,335 50.0%
OTHER EXPENSES 399,699 151,527 37.9% 347,999 ' 279,965 80.4%
TOTAL SEWER OPERATING EXPENSES 6,734,962 5,590,297 83.0% 6,646,625 5,701,456 85.8%
CASH CAPITAL 200,00 140,000 70.0% 200,000 (12,715) -6.4%
TOTAL SEWER ENTERPRISE EXPENSES 6,934,962 5,730,297 82.6% 6,846,625 5,688,741 83.1%
SEWER SURPLUS/(DEFICIT) (200,000) (2,291,473) 1145.7% (200,000) (2,146,843) 1073.4%
RINK REVENUE 0 21,986 0.0% 0 23,570 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 2,479 4.1% 9,250 4,018 43.4%
TOTAL RINK OPERATING EXPENSES 70,000 2,479 3.5% 15,430 4,078 26.4%
CASH CAPITAL 0 0 0.0% 0 0 0.0%
TOTAL RINK ENTERPRISE EXPENSES 70,000 2,479 3.5% 15,430 4,078 26.4%
RINK SURPLUS/(DEFICIT) (70,000) 1.9,507 -27.9% (15,430) 19,492 -126.3%
ATMDATA - 1-28-20.xlsx enterprises 1/28/2020