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HomeMy WebLinkAboutMinutes_Workshop_08/13/1985 MINUTES OF THE BUDGET WORKSHOP MEETING OF THE VILLAGE COUNCIL OF THE VILLAGE OF TEQUESTA, FLORIDA AUGUST 13, 1985 The Village Council of the Village of Tequesta held a Water Department Budget Workshop Meeting at 7:00 P.M., Tuesday, August 13, 1985 in the Village Hall, 357 Tequesta Drive. Councilmembers present were: Gemino, Howell, Murphy and Stoddard. The Village Manager reviewed with Council the proposed 1985/1986 Water Department Budget (see attached). The Village Manager explained to Council that this Budget is different than the Village of Tequesta General Fund • because this income is derived from the revenue of water sales. The meeting was adjourned at 7:35 P.M. ~` ` -~ t, Cyr se Colbert Village Clerk CC:mk Attachment. • VILLAGE OF TEQUESTA WATER DEPARTMENT BUDGET 1985/1986 REVENUES The Water Sales have been estimated based upon the current trend and 3~ growth. The water sales for the first ten (10) months of the current fiscal year were 582,929,000 gallons (424,015,000 last year) for $1,128,508. ($762,472. last year). The rate is $1.05 per 1,000 gallons, plus base rate and other charges. We estimate 1985/1986 gallons to be 715,000,000 million and $1,37Q,000. Fire Hyrant fees are paid to the Water Department by the General Fund based upon $100. per hydrant within the Village per year, pursuant to the Water Rate Section of the Village Code. Interest earnings have been estimated based upon anticipated investments for the fiscal year. • Other income is mainly discount on purchases. EXPENDITURES Expenditures have been estimated based upon current trends and conditions. PUMPING AND STORAGE Kepair and Maintenance Buildings and Other Provides for repair and painting of 500,000 gallon ground storage tanks in Well Fields No. 2 and 4 and 750,000 concrete ground storage tank and painting of building in Well Field No. 4. Operating Supplies Water Purchases Provides for purchase of 5~ over minimum amount of 1,500,000 gallons per day from Town of Jupiter in the event of a breakdown of the Villages' Water Treatment Facility. OFFICE AND ADMINISTRATION DIVISION Professional Services Engineering Services Provides for day to day engineering services by Water Department • Consulting Engineer (Gee & Jenson) as a,ci upl a7Cl V1CC.5' Administration Management This amount is paid by the Water Department to the General Fund for such services provided. CAPITAL IMPROVEMENT FUND The Water Department Superintendent has recommended, and we concur, the following purchases from this fund: Bench Grinder with Stand $ 420. Landscaping, sod etc for upgrading Well Field No. 1 and Well Field No .' 4 _2,000. Total $2,420. RENEWAL AND REPLACEMENT FUND This fund. is to make replacement of Capital Equipment as necessary. Provision is made to fund this fund in the amount of approximately $25,000. for the 1985/1986 Fiscal year with an estimated amount of $20,000. to be transferred from revenues for this funding. William D. Reese, P.E. has given his approval, as required, for this amount. The Water Department Superintendent recommends, and we concur, that the following items be purchased from the Renewal and Replacement . Fund for the 1985/1986 fiscal year: Superintendents car to replace the 1981 AMC Concord $ 9,000,. Electrical wrench for tapping machine 1,200.. Total estimated cost $10,200_ DEBT SERVICE The following payments are required to be made to the paying agent ' for annual payment of principal and interest on the $1,525,000. Village of Tequesta, Florida Ldater Refunding Revenue Bonds, Series 1985: ' April 1, 1986 ~U~ ,~' Principal $30,000.00 Interest 60,665.00 $ 90,665.00 C October 1, 1986 Principal $35,000.00 Interest 59,802.50 94,802.50 Paying Agent fee and Debt Service Expense 1,000.00 • ~ Total $186,467.50 ~~ a ~,` V~~ The following payments are also required to be made to the Paying Agent for the semi-annual purchase of U.S. Treasury Bonds due February 15, 2007 bearing interest of 7 5/8~: April 1, 1986 $40,000. October 1, 1986 45,000. $85,000. Total Debt Service Requirement $271,467.50 DEBT SERVICE COVERAGE The Bond Resolution provides that adequate revenues will be provided in each year to pay 100 of all costs of operation and maintenance of the Water System in each year and all reserve and on other payments required and 125 of the Bond Service requirement becoming due in each year on the outstanding $1,525,000. Village of Tequesta tdater Refunding Revenue Bonds, Series 1985. The coverage in the proposed budget is 1.8331 computed as follows: Total Estimated Revenues $1,490,000. Less Operating Expenses 992,365. $ 497,635. $487,635.00 = 1~g331 • $271,467.50 which meets the 125 Coverage requirement. PAYROLL Has been provided pursuant to the guidelines established for the General Fund. • 1 ~~Biational a 45-804 Eye-Ease 4s-904'20120 Buft Made in USA 1 __7r!y ~r s! 3f r Appr areA Bt l n ~ -- ~ ~- tt r - -- - ~,e ~r~-s ~ ~~ 9~ / ~ ~ / i ~~ r~~"~ .v,2s~~/T ~~TS Q a~ ~ ~ ~ ~ 6r-~Pv T~•2 ~,2/icE" DES d a QT,~f~,~ : ~GO,t~ ~' ~ ~ i .. ~ ' -- I ;; i t ` I , 4 . I ~ I ~S7i~/,~.11 / ~ I ~ ~ ~ ~ t I j ~ ` ( ~ I. { -- -- T_~/B,U T/_1~~tI ~ ~ ~ ~ ~ I ~~~~~ Tai ~' l~~/,%./T~-.~,~~c f ~ ~ 9 ~ ~ ~~6 3 ~ ! 9,~3 i~ ~ ~ ~ { I DU i { ~~ ~C>gL ~~~~s~ ~ - d v 7'a~ 7~L 5T,~2/~ , I 6~ ~ ~ j ~~ ! ~ ,, ~7 ~ !~ " ~ ~ o~D!~/~ ~ { ~~d~~ _ i ~ ~I~ I ~~~ I ~~I ~~~--~ -1!' ,3I~ - ~i ~~ ,~_-= ,: ~~ ~. __ ( i ! ~ i ~ 1-- ~ ~ ~ _ ~_- _ -- _ 1 -- - - __ ~~ I , 1 ~ ~ . I ' I ~ ~ l i i i ~ , . 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