Canton, Massachusetts · Saved source text
Enterprise Funds Operating Results as of Sep 30 2018
Saved text from 2 source pages. Transcription and OCR may contain errors; verify figures and wording against the original. Retrieved 2026-10-15.
Source page 1
f
', —
~o~r~ of ~~r~tor~, ,~~~~~c~ju~ett~
~ ~~_ DEPARTMENT OF FINANCE
KATHLEEN D. BUTTERS
o ~AHTON'» ~ IviNMORIAL HALL "fOWN ACCOUNTANT
801 WASHINGTON STREET kbutlers C[own.canton.ma.us
CANTON, MA 02021 (781)575-6605
JAMES R. MURGIA PHONE: 78 I -575-6610
FINANCE DIRECTOR FAX: 781-575-6608 SUSAN E. DESJARDINS
jmurgiaCtown.canton.ma.us town.canton.ma.us ASST. TREASURER/COLLECTOR
(781)575-6612 sdesjardinsCtown.canton.ma.i~s
(781)821-5006
LOUIS M. JUTRAS
INFORMATION
MEMORANDUM SYS"I'EMS MANAGER
ljulrasC'to~~~n.canton.ma.us
(781)821-5069
TO: Board of Selectmen
FROM: James Murgia, Finance Director
DATE: November 7, 2018 ,
SUBJECT Enterprise Funds' Operating Results as of September 30, 2018
The attached report shows the enterprise funds' operating results for the first quarter 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 deficit for the first quarter was $720,401 which is less than last
year's deficit of $1.5 million.
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 quarter was $3.4 million, slightly more than
the $3.0 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 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 $3,660 during the first quarter 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.
J RM/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'REVENUES AND EXPENDITURES
CURRENT FISCAL YEAR PRIOR FISCAL YEAR
FY 2019 Actuals as of Actuals as % FY 2018 Actuals as of Actuals as °/a
DESCRIPTION BUDGET 9/30/2018 ~, of Budget BUDGET 9/30/2017 of Budget
WATER REVENUE 6,667,549 1,869,176 28.0% 6,957,882 2,016,421 29.0%
SALARIES &WAGES 926,018 196,902 21.3% 948,271 156,946 16.6%
MWRAASSESSMENT 1,8$7,795 1,874,192 99.3% 2,548,346 2,538,303 99.6%
DEBT SERVICE 2,281,132 195,594 8.6% 2,358,680 249,416 10.6%
CHARGES FROM GENERAL FUND 584,844 146,211 25.0% 514,825 128,706 25.0%
OTHER EXPENSES 987,760 573,024 58.0% 987,760 431,991 ' 43.7%
TOTAL WATER OPERATING EXPENSES 6,667,549 2,985,922 44.8% 7,357,882 3,505,362 47.6%
CASH CAPITAL 364,000 (396,345) -108.9% 655,000 ' (4,684) -0.7%
TOTAL WATER ENTERPRISE EXPENSES 7,031,549 2,589,578 36.8% 8,012,882 3,500,678 43.7%
WATER SURPLUS/(DEFICIT) (364,000) (720,401). 197.9% (1,055,000) (1,484,257) 140.7%
SEWER REVENUE 6,646,625 1,698,786 25.6% 6,536,733 2,004,755 30.7%
SALARIES &WAGES 454,159 74,250 16.3% 459,130 55,174 12.0%
MWRA ASSESSMENT 4,433,841 4,467,793 100.8% 4,244,707 '~ 4,252,646 100.2%
DEBT SERVICE 1,083,956 402,162 37.1% '~ 1,126,032 365,230 ~ 32.4%
CHARGES FROM GENERAL FUND 326,670 81,668 25.0%~ I 358,865 89,716 ! 25.0%
OTHER EXPENSES 347,999 I 75,994 21.8% 347,999 135,039 38.8%
TOTAL SEWER OPERATING EXPENSES 6,646,625 5,101,866 76.8% 6,536,733 4,897,805 ~ 74.9%
CASH CAPITAL 200,000 (45,215) -22.6% 404,000 86,085 21.3%
TOTAL SEWER ENTERPRISE EXPENSES 6,846,625 5,056,651 73.9% 6,940,733 4,983,890 71.8%
SEWER SURPLUS/(DEFICIT) (200,000.) (3,357,865) 1678.9% (404,000) (2,979,135) 737.4%
RINK REVENUE 0 7,409 0.0% 0 8,377 0.0%
SALARIES &WAGES 0 0 0.0% 0 0 0.0%
CHARGES FROM GENERAL FUND 0 0 0.0% 0 0 0.0%
DEBT SERVICE 6,180 0 0.0% 6,360 0 0.0%
OTHER EXPENSES 9,250 3,749 40.5% 13,550 3,749 ~ 27.7%
'TOTAL RINK OPERATING EXPENSES 15,430 3,749 24.3% 19,910 3,749 18.8%
CASH CAPITAL 0 0 0.0% 0 0 0.0%
TOTAL RINK ENTERPRISE EXPENSES 15,430 3,749 24.3°!0 ~ 19,910 3,749 18.8%
RINK SURPLUS/(DEFICIT) ~ (15,430) 3,660 -23.7% (19,910) 4,628 -23.2%
ATMDATA.xisx enterprises 11/7/2018