05-28-1985 Council Packet - Laserfiche WebLink

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COMPARISON OF BUDGETED - *, tit,YFNUES AND EXPFSIDI'IVRfS FOh ._ iu. YEAR 1984 The Cannission has prepared this sum+ary sheet and attached tables to explain how we have increased the earnings and decreased the expenditures from that budgeted for fiscal year 1984 and allocated to the user connunities of the Metropolitan Disposal System. In this process we will be able to return over $5,0001000.00 to the 1984 users of the system. The Conmissirn would like also to inform you that we have received the "Certificate of Conformance' from the National Government Finance Officers Association for the 1982 and 1983 fiscal years. According to the bond consultant, this achievement Sas resulted in substantial interest savings for the $26,000,000 of bonds sold in November, 1964. In more specific detail, the actual revenue in 1984 exceeded the budget by $498,000 as shown in Table R. In addition, excess SAC revenues of $2,546,366 were transferred to the Sac Fund reserve which now totals $19,542,170. This does not include the '5,333,332 which the SAC Fund has loaned to the Operating Fund, which will be returned by Fiscal Year 1988. $1,866,667 of the monies to be returned is already included in the 1985 Budget. The two major areas that revenues exceeded budgeted amounts were Industrial Strength Charges of $1,152,000 and Investment Earnings of $764,000. A study of the Comnission's investments by an outside consultant indicated that .he Crnmissicn is doing a good job of managing its investable funds. The Construction Fund yield, with rather short maturities averaged 9.82% and the Operating Fund wi h an average investment of approxinetely two years averaged 11.25%.