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Oneida-Herkimer Solid Waste Management Authority
Management’s Discussion and Analysis
December 31, 2022 and 2021
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Financial Analysis - Continued
The Authority’s overall revenues increased 2.99% or $911,147 from 2021. The Authority’s overall expenses increased 5.34% or $1,285,996 from 2021, due in part to record high inflation experienced across the country.
Budgetary Highlights
The Authority Board of Directors adopts an annual operating budget and a five-year capital plan after thorough review by the Audit and Finance Committee of the Authority Board and a public hearing. Management periodically reviews the budget and informs the Board and Finance Committee if it becomes apparent that the budget as adopted is not in line with actual revenue and expenditures. Variations from the budget are dealt with through budget transfers or amendments. Transfer amounts under $5,000 are approved by the Treasurer of the Board. Those in excess of $5,000 are approved by resolution of the full Board.
The 2022 and 2021 budgets are compared to actual results in Table A-3.
