1990-09 Adopt Financial Plan
RESOLUTION NO. 90-9
RESOLUTION OF THE BOARD OF DIRECTORS OF
SAN DIEGUITO WATER DISTRICT ADOPTING A REVISED
FINANCIAL PLAN FOR THE 1989-90 FISCAL YEAR
WHEREAS, by Resolution No. 89-16, the District adopted a
Financial Plan for the 1989-90 fiscal year; and
WHEREAS, it is in the interests of the District to adopt a
revised Financial Plan for the year to take into account
unanticipated changes in income and expenses;
NOW, THEREFORE, IT IS HEREBY RESOLVED,
ORDERED by the Board of Directors of San
District as follows:
DETERMINED AND
Dieguito Water
1. That the Financial Plan set forth on Exhibit "A"
attached hereto be revised by the increase of water
revenue thru water rate adjustments of $6l5, 000 and the
increase of water purchased of $685,200, and it is adopted
as the revised Financial Plan of San Dieguito Water
District for the 1989-90 fiscal year replacing the
Financial Plan adopted by Resolution No. 89-16.
2. That the officers of the District be and they are
directed to use the revised Financial Plan as the guide to
the District's financial operations for the remainder of
the 1989-90 fiscal year.
PASSED AND ADOPTED at a regular meeting of the Board of
Directors of San Dieguito Water District held on the 27th day
of February, 1990, by the following vote, to wit:
AYES: Directors Omsted, Slater, Shea, Gaines & Hano
NOES: None
ABSENT: None
~(')~~
Anne Omsted, President
ATTEST:
u~+\ ~
Warren H. Shafer, ecretary
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SAN DIEGUITD WATER DISTRICT FINANCIAL PLAN
MID YEAR REVIEW THRU DECEMBER 31, 1989 02/23/90
ORIGINAL REVENUE REVISED VARIANCE
1989-90 TO 1989-90 FROM ORIG
REVENUES FIN PLAN DATE FIN PLAN FIN PLAN COMMENTS
---.--------------------- --------. --------- -------. -------- --.-----
WATER REVENUE 3,705,000 2,144,864 4,320,000 615,000 rate adj & .10 credit suspended
SERV 1EVENUE 66,000 50,325 57,100 (8,900) Less meters instaLLed
NON-OPERATING REVENUES 1,217,654 538,203 1,016,800 (200,854) Revised estimates for Interest & Taxes
--------- ---------. ---------- ---._----
TOTAL REVENUES 4,988,654 2,733,392 5,393,900 405,246
EXPENSES TOTAL VAR lANCE
1989-90 TO PROJECTED FROM
EXPENSES FIN PLAN DATE TO YR END FIN PLAN
------------------------- --------- --------- --------- --------
Source of Supply 1,189,200 887,628 1,874,400 685,200 Purchased more CWA water
Water Treatment 452.000 218,228 343,300 (108,700) Less treatment CWA water
Transmission & Distribution 158,160 51,417 116,000 (42,160) Maint Services renewal for overlay
Truck & Equipment 46,400 18,420 42,100 (4,300) APe Permit & Hazardous Waste Fees
Customer Accounts 11,000 10,435 11,800 800 Price of water bilLs higher than expected
Administrative & General 276,500 73,284 235,300 (41,200) Rebate on property & Liability insurance
Employee Benefits & Salaries 1,243,500 578.460 1,215,500 (28,000) Workers' Camp refund
Rent & leases 13,500 7,208 11.100 (2,400)
Ma :neral Plant 24.000 8,047 18,300 (5,700)
Other Operating Expenses 0 58 100 100
Non-Operating Expenses 701,623 375,709 697,200 (4,423)
--------- --._------ ++-------- --------
Total Operating Expenses 4,115,883 2,228,894 4,565,100 449,217
Princ & Interest '66-67 GO Bonds 170,000 105.000 170,000 0
princ & Interest'86 Revenue Bonds 366,250 181,250 366,250 0
Vehicles & Office Equip Purchased 115,000 84,032 115,000 0
Capital Improve-District Studies 15.000 0 15,000 0
--------- ---------- ---------- --------
Total Other Expenses 666,250 370,282 666,250 0
Total A II Expenses 4,782,133 2,599,176 5,231,350 449,217
Rev less Exps-Fav/CUnfav) 206,521 134,216 162,550 (43,971> A:\FPMYREV1.WK1
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