PRWID Experiences '06 Budget Increase
At the close of its 2006 budget year, the Price River Water Improvement District posted $121,246 in unanticipated revenues.
Some of the revenue will be carried over to the 2007 budget, though most will be used to offset expenses in the 2006 budget.
The PRWID board voted to open the budget and make changes which resulted in a carryover of $31,051 to 2007. In the same action, the board approved $80,165 to be used to cover expenditures in 2006.
As most public entities reach the end of a budget cycle, officials must re-open budgets and transfer funds to cover unanticipated costs.
However, the water improvement district opened its budget to add new revenues generated during the current year.
By using the unanticipated revenues, the district is able to reduce the number and amount of transfers between funds.
More than one-third of the increase comes from motor vehicle in lieu fees.
The district receives a portion of fees paid for registration of motor vehicles. The amount paid to PRWID can vary according to the total number of vehicles registered in a particular year.
At the end of 2005, when the board approved the 2006 budget, district officials anticipated that the district would collect $160,000.
However, more vehicles were registered than originally estimated and that amount has jumped by nearly $46,000 to $205,844.
The district will transfer $10,000 from motor vehicle in lieu fees to fleet maintenance. Another $10,000 will go to line maintenance.
PRWID spent more than $17,000 in legal fees for the Carbon Canal winter water project. To offset legal fees, $10,750 from in lieu payments will be transferred to the district's tort liability fund.
The balance of the motor vehicle in lieu fees, a sum $15,094, will be carried over to the water district's 2007 budget.
The district received $44,476 for costs associated with construction of the Helper interchange. PRWID operates a water and a sewer line which will be relocated before the highway project is completed. A sum of $34,822 from the Utah Department of Transportation will go to the capital water project fund. An additional $9,654 will go into the sewer capital project fund.
District manager Phil Palmer reported that more than 80 percent of the new water line and one valve are n place. The remaining water line, a second valve and the sewer line relocation have been delayed until Price's 16-inch line has been removed from its current location.
In 2004, PRWID began making purchases associated with the Helper interchange. The funds from UDOT cover previous expenditures and leave more than $28,000 for future costs.
More than $9,800 of the unanticipated revenues came from interest payments.
PRWID secretary Kathy Dahl explained that PRWID keeps the bulk of its money in the state's public treasurer tnvestment fund. The fund has returned a more favorable profit than forecast.
In the administration maintenance and operation fund, the district saw an increase of $7,957, from $5,500 to $13,457. An additional $1,500 in interest has posted to PRWID's water and sewer debt service fund, a jump from $3,700 to $5,200.
In the water capital project fund, PRWID received $350 more than anticipated and in the sewer capital project fund, the district received $375 more than expected. All of the unanticipated interest will be carried over to the 2007 budget.
The district does not always sell surplus property, and does not budget for revenues in that area. However, the district sold some gas tanks it owned this year and made $6,500 in the process. That money will be used to offset expenses in the administration capital project fund.
The board had anticipated making a transfer from the administration maintenance and operation fund to cover capital project expenses.But $6,500 less than anticipated will have to be transferred, leaving an extra $6,500 in the administration maintenance and operation fund, which will be carried over to 2007.
Significant amounts of new revenues were spent in the sewer and water capital project funds. Grant proceeds for the Carbonville/east Wellington project totaled $20,000. An additional $9,250 came from water impact fees. Impact fees and grant proceeds will cover the 2006 expenses.
PRWID also posted small increases in its sewer maintenance and operation fund. Sewer inspection fee revenues climbed $210, from $650 to $860.
Finally, sewer impact fees collected by PRWID increased more than $35,000, all of which has been used within the sewer capital project fund in the 2006 budget.