1984-27 Adopting Budget for the 1984-85 Fiscal Year
RESOLfJrIOO NO. R84-27
RESOLurIOO OF 1HE BOI\RD OF DIRECroRS OF
SAN DImJIW WATER DISTRIcr AOOPrING
BllDGE.T FOR 1HE 1984-85 FISCAL YEAR
WHE:RE'AS, it is in the interest of the District to adopt a budget
for the 1984-85 fiscal year;
Na'I, THilREFORE, IT IS lIEREBY RESOLVED, DEl'ERMINED AND ORDERID by
the Board of Directors of San Dieguito Water District as follows:
1. That the budget set forth on Exhibit A, which is attached
hereto, be and it is adopted. as the budget of the San Dieguito Water
District for the 1984-85 fiscal year.
2. That the officers of the District be and they are directed
to use said budget as a guide to the District I s financial operations
for said fiscal year.
PASSED AND AOOPl'ED at a regular meeting of the Board of Directors
of San Dieguito Water District held on the 23rd day of July, 1984, by
the following vote to wit:
AYES: Directors Weston, Dashiell, Weidner, TcMnsend and Stone.
OOPS: None.
ABSENI': None.
M2
President
ATrEST:
no
SAN DIEX;tJIro WATER DISTRICT
1984-85 BUIlGEr
ADOPTED JULY 23, 1984
Operating Expense
Water purchased
Water treatment
Trans. & Dist.
Meter installations
Custaner accounts
Admin. & General
Vehicles & e:;ruj.prent
other
$845,000
555,000
160,000
50,000
12,000
105,000
60,000
63,000
Sub Total
$1,850,000
Employee Benefits
PERS
Medical
Dental
State Catp. Ins.
Unifonns, safety, etc.
Salaries
$185,000
50,000
7,000
15,000
12,000
734,000
Sub Total
$1,003,000
Rents & leases
Mllnt. Gen. Plant
Other or:erating expense
1966 Bond expense
1982 Revenue Bond expense
$ 1,000
25,000
o
214,000
978,000
Sub Total
$1,218,000
$4,071,000
=. EXPENSES
REVENUES
Availability charges
Water sales
Non-0perating
Assessrents
Meter installations
Custarer contributions
Capacity charges
Salaries paid by Canstr.
Interest
$845,000
2,934,000
40,000
334,000
55,000
25,000
291,000
20,000
150,000
=. REVENUE
$4,694,000
Incare in excess of expenses
$ 623,000
Debt Service _ Surplus
Coverage -
Increase - CUstaner Contributions =
1982 Bond PayrrEl1t
326,000 = 33%
978,000
Minimum AllCMed
= 30%
See attached assumptions.
SAN DIEl3UITO WATER DISTRICT
1984-85 BUllGEr
ASSUMPTICNS USED
1. Water Purchased will be 7700 Ac. Ft.
2. Water sold will be 7250 Ac. Ft.
3. 60% of the water will be purchased fran the CWA.
40% of the water will be purchased fran San Diego.
4. We will receive an interruptible rebate fran the CWA of $132,000
for storing 3000 acre feet at Hodges.
5. CWA water rates unexpec:tedly increased $50.00 in January, 1984.
This was a 32% increase. This results in a major increase in
1983-84 budgeted water cost.
6. Health insurance rates increased 30%.
Other health plans are being investigated. The payment of the
increase is being negotiated with Employees.
7. Salary changes are being negotiated with anployees.
No increase is sl1o;.m in the budget.
8. The payment for the 1982 Bonds by the paying agent rerains at
$931,000 for 1984-85, which pays for interest only. HcMever the
payment to be made in CCtober 1985 will include interest and principa.l.
The nonthly payment to bond paying agent will include the principal
payment for the last three rronths of the budget year 84-85 to
provide sufficient funds for the O::::tober 1985 payment. This increases
the payment by $47,000 for 1984-85. Thereafter it will be at the
rate of $1,118,000/year.
9. 'Ihe follCMing na.v meters will be installed:
120-3/4", 10-1", 20-1.l.;z", 15-2", 1-3".
The capacity fee will be $291,000.
10. Interest on savings will be 10%.
11. The district will accumulate $623,000 surplus for the year. Ho;..7ever
by our pledges to the bond holders, no custarer contributions, such
as meter sales and capacity fees can be included for canputing a
surplus of inccme for debt coverage. These incane: sources cannot be
included because they are beyond our control to generate. Only
$326,000 is allowed for debt coverage.
12. A debt coverage of surplus must be at least 30% IlDre than the bond
payrrent. The debt coverage with this budget is 33%.
13. S~ will use 46% of the water treated at the plant.