1993 BUDGET - Laserfiche WebLink

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Debt Service Fund: This fund reflects various components of the City's general, long-term debt, that is, the non - utility debt. The 1993 expenditure level is $98,575, and allocates funds for retirement of the 1993 payment on the Steinbaugh property lease and for final payment on the Kraft property lease. Capital Construction Fund: The Capital Construction Fund accounts for monies received as a result of the one -cent sales tax increase that was approved at the special election in March of 1989. The Capital Construction Fund has a projected budget of $984,020, of which $520,020 is obligated for 1993 debt service payment for the bonds issued to finance the new Library, Recreation Center, City Hall remodel, and South Boulder Road. The remaining $464,000 from this Fund is budgeted for improvements to alleys $29,700; Repair & Maintenance to the Historical Museum, $4,000; Repair & Maintenance to Sidewalks, $80,000; and Street Reconstruction, $350,300. Water Fund: The operating revenues (user fees) for the water funds are budgeted at $1,947,200 with operating expenditures of $1,414,985. The water rate structure adopted by City Council will provide for an increase in the monthly water rates over the next two years of approximately 12 percent per year. This rate increase is needed in order to accommodate both short-term and long-term needs, and provide for sound fiscal management of the water utilities. The Mayor and City Council also adopted an increase in the water tap rates applied to all new residential construction. Debt service expenditures for 1993 are $1,851,520 and are funded with assessment fees and water tap fees. The 1993 Water Fund capital outlays are budgeted at $9,590,360. In April of 1992, the City issued $7.5 million in bond proceeds for the construction of the new 5,000,000 gallon -per -day South Water Treatment Plant, raw water pipeline from Marshall Reservoir, a treated water pipeline from the went plant to the City's existing distribution system, and a treated water storage tank all designed to facilitate handling system peak demands. The completion of the construction of the South Water Treatment Plant is the largest capital outlay for 1993 at an estimated amount of $4,206,000. Other capital outlays include: * Water Rights Acquisition, including legal fees, $200,000 • Acquisition of 600 acre feet of Windy Gap water rights to improve City's water future water supply, $1,500,000 vii