Agenda - 11-20-2003-3 - Laserfiche WebLink

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15 AttacBment B Overview of Cut°rent Financial Situation 11/20/0.3 • Financial Status • Current budget = $5,553,291 • Fund Balance used = $1,222,07.3 • Current estimated undesignated fund balance =$865,098 (15.6%) • Current balance of closure, equipment replacement, and landfill construction reserves =zero • Current equipment replacement balance should be = $ (based on staff financial plan assumptions) • Positive reserve balance exists primarily due to unexpected storm debris revenue and debt finalrcing of equipment • Gunent debt load balance estimate = $1.95 million (including current year f nanced equipment and debt payments) Reasons for current revenue decrease and expenditure increases • Success of new mandatory recycling ordinance • Master facilities plan implementation • C&D material recycling facilities • Property acquisition, design and permitting of new C&D landfill • New electt°onics recycling storage building New or etrlranced programs • Assumption of nntlti-family program operations • Expansion of rural curbside programs • Implementation of electronics and dry cell battery recycling programs • Expansion of food waste recycling • hnplementation of new mandatory recycling ordinance with additional equipment and persomrel • Takeover of govermnent building recycling program from OCPW • Two new drop-off sites Disposal tonnages reduced due to waste reduction successes Continued delivery of OC wastes to other facilities • Towns' commercial waste collection fees having unexpected/undesirable consequences • Some private haulers waste going out of county escaping paying fair share of recycling programs • Rogers Road sewer installation • Historical use of fund balance to minimize tipping fee increase • L,ilcely 2004-OS budget shortfall could not be addressed tlu~ough projected remaining fiord balance • Need for supplemental revenue for 2004-05, a solid waste fiord business plan, and reestablishment ofplan to fund equipment reserve