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The Brick Township Municipal Utilities Authority operates on a fiscal year basis from April 1st through the following March 31st. The BTMUA adopts a detailed Operating and Capital Budget each year to assure financial control, and as a guideline to measure monthly financial performance. As the Budget Summary indicates, the BTMUA has a $33.6 million balanced budget for the 2008/2009 fiscal year. The graphic illustrations depict further detail for budgeted operations. Income Sources As the 2 largest portions of the graph indicate, approximately 65% ($22.0 million) of revenues are from our 29,000 plus residential single family customers. Other customer classes (commercial, multi family, lawn, school, etc.) contribute $7.3 million additional income. The light gray segment indicates our anticipated revenues of $2.2 million from Point Pleasant Beach, Point Pleasant Borough, and Parkway Water Company. This year’s budget includes an overall 5.5% rate increase, which will generate approximately $1.6 million in additional revenues. Estimated Expenditures Our $33.6 million in anticipated income sourcing will be utilized in two generalized expense categories. Approximately $23.6 million, or 70% of our expenditures will be for our operating expenses as shown on the related graph. $10.0 million is for debt service, paying principal and interest on existing borrowed funds. Approximately $2.5 million of the 2008/2009 debt service is strictly related to reservoir borrowing. Operating Expenses As can be seen on the graph, sewerage treatment, salaries, and benefits comprise 81% of the operating budget. More specifically, approximately $7.7 million will be paid for sewerage treatment this fiscal year, and $11.6 million for personnel services and benefits. $2.8 million are budgeted for normal operations such as chemicals, repairs and maintenance, supplies, professional fees, vehicle maintenance costs, etc. We also estimate about $1.6 million for utility expenses. Capital Budget Anticipated capital payments for the 2008/2009 budget are approximately $7.2 million. Capital spending is primarily dependent upon already borrowed funds. Additional capital expenditures will be paid from internal funding. $1.6 million of the 2008/2009 capital budget will be sourced from low interest New Jersey Environmental Infrastructure Loans, and $2.3 million from Series 2002 Bonding. As the capital graph indicates, primary projects include approximately $2.1 million for various Water Treatment Plant / Water Quality projects, and $1.3 for Sewer Rehabilitation related work. |