Canton, Massachusetts · Saved source text
Enterprise Funds Operating Results as of Dec 31 2018
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Source page 1
~o~nt~ of ~~r~tor~, ,~~~~~c~ju~ett~
a .. ~~ DEPARTMENT OF FINANCE
_ ~ KATHLEEN D. BUTTERS
o ~AHTon•n ~ , MF,MORIAL HALL TOWN ACCOUNTANT
801 WASHINGTON STREET kbuttersC'town.canton.ma.us
CANTON, MA 02021 (781)575-6605
J AMES R. MURGIA PHONE: 781-575-6610
FINANCE DIRECTOR FAY: 781-575-6608 SUSAN E. DESJARDINS
jmurgiaC~to~~~n.canton.ma.us to~an.canton.ma.us ASST.TREASURER/COLLECTOR
(781)575-6612 sdesjardins C'to~an.ca~~ton.ma.us
(781)821-5006
LOUIS M.JUTRAS
INFORMATION
SYSTEMS MANAGER
MEMORANDUM IjutrasC to~~~n.canton.ma.us
(781)821-5069
TO: Board of Selectmen
FROM: James Murgia, Finance Director ~~'~
DATE: January 15, 2019 `
SUBJECT Enterprise Funds' Operating Results as of December 31, 2018
The attached report shows the enterprise funds' operating results for the first half 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 half was $49,635 which is better than last
year's deficit of $61,014.
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 half was $2.1 million, slightly more than the
$1.5 million deficit a year ago due to less than expected revenues.
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 $19,492 during the first half 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'OPERATING BUDGETS
CURRENT FISCAL YEAR PRIOR FISCAL YEAR
FY 2019 Actuals as of Actuals as % FY 2018 Actuals as of Actuals as
DESCRIPTION BUDGET 12/31/2018 of Budget BUDGET 12/31/2017 of Bud et
WATER REVENUE 6,667,549 4,085,359 61.3% 6,957,882 4,331,822 62.3%
SALARIES &WAGES 926,018 476,867 51.5% 948,271 391,438 41.3%
MWRAASSESSMENT 1,887,795 1,876,558 99.4% 2,548,346 2,551,203 100.1%
DEBT SERVICE 2,281,132 446,933 19.6% 2,358,680 513,817 21.8%
CHARGES FROM GENERAL FUND 584,844 292,422 50.0% 514,825 257,413 50.0%
OTHER EXPENSES '~ 987,760 1,050,044 106.3% 987,760 675,135 68.4%
TOTAL WATER OPERATING EXPENSES 6,667,549 4,142,824 62.1% 7,357,882 4,389,005 59.7%
CASH CAPITAL 364,000 (107,100) -29.4% 655,000 3,831 0.6%
TOTAL WATER ENTERPRISE EXPENSES 7,031,549 4,035,724 57.4% 8,012,882 4,392,836 54.8%
WATER SURPLUSI(DEFICIT) (364,000) 49,635 -13.6% (1,055,000) (61,014) 5.8%
SEWER REVENUE 6,646,625 3,541,898 53.3% 6,536,733 3,970,616 60.7%
SALARIES 8~ WAGES 454,159 188,409 41.5% 459,130 143,847 31.3%
MWRA ASSESSMENT 4,433,841 4,467,793 100.8% 4,244,707 4,252,646 100.2%
DEBT SERVICE 1,083,956 601,954 55.5% 1,126,032 579,378 51.5%
CHARGES FROM GENERAL FUND 326,670 163,335 50.0% 358,865 179,432 50.0%
OTHER EXPENSES 347,999 279,965 80.4% ~ 347,999 169,013 48.6%
TOTAL SEWER OPERATING EXPENSES 6,646,625 5,701,455 85.8% 6,536,733 5,324,317 81.5%
CASH CAPITAL 200,000 (12,715) -6.4% 404,000 182,385 45.1%
TOTAL SEWER ENTERPRISE EXPENSES 6,846,625 5,688,740 83.1% 6,940,733 5,506,702 79.3%
SEWER SURPLUS/(DEFICIT) (200,000) (2,146,842) 1073.4% (404,000) (1,636,085) 380.2%
RINK REVENUE 0 23,570 0.0% 0 13,289 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 60 1.0% 6,360 159 2.5%
OTHER EXPENSES 9,250 4,018 43.4% 13,550 4,009 29.6%
TOTAL RINK OPERATING EXPENSES 15,430 4,078 26.4% ~ 19,910 4,168 20.9%
CASH CAPITAL 0 0 0.0% 0 0 0.0%
TOTAL RINK ENTERPRISE EXPENSES 15,430 4,078 26.4% 19,910 I 4,168 20.9%
RINK SURPLUS/(DEFICIT) (15,430) 19,492 -126.3% (19,910) 9,12~i -45.8%
ATMDATA.xlsx enterprises 1/14/2019