HomeMy Public PortalAboutFY22 May Bgt Fin Comm FinalFinance
Committee
Meeting Adjustment to
FY22
Preliminary
BudgetMay 4, 2021
FY22 Preliminary Balanced Budget
FY22 Total Revenue
($$s in millions)
Wastewater User Charges $436.9
Revenue Bonds 119.0
Stormwater Taxes 35.2
OMIC Taxes 7.8
Investment and Other Income 10.4
Use of Fund Balances 106.4
Total District Revenue $715.7
FY22 Total Expense
($$s in millions)
Operating Budget $224.3
CIRP 364.1
Debt Service 127.3
Total District Expenses $715.7
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Note the Preliminary Book shows $715.9
Summary of changes provided.
Revised
$35.1
$8.1
$101.5
$711.0
$359.4
$711.0
Summary of Changes
from Preliminary
Budget Book
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Finance
Committee
March 31st
Planned
Changes Changes
Finance
Committee
May 13, 2021
FY22 Total Revenue:
Wastewater User Charges 436.9$ 436.9
Revenue Bonds 119.0 119.0
Taxes 43.0 0.2 43.2
Investment and Other Income 10.4 10.4
Use of Fund Balances 106.4 (4.9) 101.5
Total District Revenue 715.7$ (4.7)$ 711.0
FY22 Total Expense:
Operating Budget 224.3$ 224.3$
CIRP 364.1 (4.7) 359.4
Debt Service 127.3 ‐ 127.3
Total District Expenses 715.7$ (4.7)$ 711.0$
Shown in Millions of Dollars
Budget Ordinance
Modification
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Section Nine – Debt Service Funds
Allows for the reallocation of budgets between debts service funds and,
if necessary, the General Fund by the Executive Director to meet the
changing requirements of the Debt Service Funds.
‐Debt service fund budgets are based on estimates relating to interest
rates associated with new debt issuances and interest rates relating to
earned income at the time the budget is prepared.
‐The proposed change does not give District staff the ability to spend
more funds but it will allow District staff to make necessary accounting
entries to debt service funds to account for budget transfers needed to
meet bond covenant requirements.
‐ The proposed change also allows monthly financial statements
transactions to be more timely recorded.
Budget Ordinance
Modification
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FY 21 FY 21
Fund Budget Actual Variance
Fund 2812 2,500,000.00 2,400,000.00 100,000.00
Fund 2828 2,900,000.00 2,950,000.00 ‐50,000.00
Total 5,400,000.00 5,350,000.00 50,000.00
Example:
A budget transfer of $50,000 would be made from fund 2812 to
fund 2828. No additional budget appropriation would be needed.
CIRP
Adjustments
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FY22 CIRP
Revised Program Summary
Type of Project Preliminary Revised Change Preliminary Revised Change
Wastewater Engineering 65 67 2 47,611,000$ 47,253,000$ (358,000)$
Wastewater Construction 56 53 ‐3 281,988,000 281,979,000 (9,000)
Stormwater Engineering 4 4 0 1,430,000 1,430,000 ‐
Stormwater Construction 18 16 ‐2 16,386,522 14,529,522 (1,857,000)
New Project Appropriations
Subtotal: 143 140 ‐3 347,415,522$ 345,191,522$ (2,224,000)$
Wastewater Continued 3 2 ‐1 9,521,000$ 7,300,000$ (2,221,000)$
Stormwater Continued 2 2 0 799,000 449,000 (350,000)
Continued Project Appropriations
Subtotal: 5 4 ‐1 10,320,000$ 7,749,000$ (2,571,000)$
Project Appropriation Totals: 148 144 ‐4 357,735,522$ 352,940,522$ (4,795,000)$
The above does not include the General Fund Project of $6.4 Million dollars
for grand total of $359.4 million.
FY22 Budget Meeting
Schedule
FY22 SBOP and Preliminary Budget Finance Committee Meeting
Review (including CIRP) March 30, 2021; 8:00 a.m.
Publication of Public Hearing Notice April 19, 2021
(The notice will be published in the St. Louis Post-Dispatch,
St. Louis American, St. Louis Business Journal,
and on the MSD Internet Site)
FY22 Budget Follow-up Discussion Finance Committee Meeting
May 04, 2021; Time: 7:45 a.m.
• Budget Introduction Board of Trustee Meeting
May 13, 2021; 5:00 p.m.
• Public Hearing After Board of Trustee Meeting
(Finding of Fact Committee)
May 13, 2021; 6:00 p.m.
• Budget Adoption Board of Trustee Meeting
June 10, 2021; 5:00 p.m.
* All meetings held Virtual or at 2350 Market Street, Room 109.
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