Interest Income -$600 Interest revenues have decreased steadily since 2020. The Federal Reserve made two emergency rate cuts in March 2020 in response to the coronavirus pandemic, moving the federal funds rate to a target range of 0-0.25 percent. Penalty Income - $155,000 Penalties are charged for late payments and disconnection of services including late fees, administrative fees and returned check, and after-hours fees.
Miscellaneous Income - $6,500 Projected
History
MISCELLANEOUS
2020 Actual
40900 Miscellaneous 40911 Sale of Assets 40917 Insurance Reimbursements Miscellaneous
3,956 30 8,080 12,066
2021 Budget
Budget
2021 Revised
6,500 6,500
6,500 6,500
2022 Budget
% Change
6,500
-
6,500
UTILITY FUND EXPENSES The Utility Fund accounts for expenses associated with maintenance and repair of a water distribution system that includes 134 miles of water lines and associated pump stations and water storage tanks, a sewer collection system that includes 130 miles of sanitary sewer line and associated sewer lift stations, salary and benefits of twenty employees, and the purchase of water, and sewer collection and treatment services from the North Texas Municipal Water District (NTMWD). Expense by Category
Salary & Benefits Services & Supplies Maintenance & Repair Capital Outlay Miscellaneous Utility Expenses
History 2020 Actual
976,413 1,324,773 11,862,068 288,789 747,523 15,199,566
Projected 2021 Budget
1,360,820 1,344,607 14,348,699 50,000 17,104,126
2021 Revised
1,259,345 1,428,218 14,448,699 17,136,262
Budget 2022 Budget
2,857,749 1,529,629 15,249,149 609,000 50,000 20,295,527
% Change
110.00% 13.76% 6.28% 18.66%
Salary & Benefits expense in the Fiscal Year 2022 budget will increase by 110%. All of the fulltime equivalents in the Public Works Division have been reallocated to the Public Works Administration department regardless of department or fund. Relocating all of the Public Works employees to the Public Works Administration department will simplify processes for Human Resources, Finance, and Public Works. Due to the nature of the services provided by these departments, frequent turnover is not unusual. It is also not unusual for employees in one department to apply for positions in other departments within Fiscal Year 2022 Proposed Budget
92
