Page 143 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

City of Winston-Salem, North Carolina
Enterprise Funds

Water and Sewer Utility Fund – Schedule of Revenues, Expenditures,
and Transfers - Budget (Non-GAAP Basis) and Actual
For the Fiscal Year Ended June 30, 2018 Exhibit 24

Variance
Positive
Budget Actual (Negative)
Operating Revenues
Sales
Water $ 55,660,260 $ 53,628,117 $ (2,032,143)
Sewer 47,344,530 47,962,898 618,368
Industrial waste surcharge 3,266,410 3,291,009 24,599
Total sales 106,271,200 104,882,024 (1,389,176)
Charges for services
New connections 400,000 601,769 201,769
Special area and privilege charges 250,000 176,838 (73,162)
Main line capital cost revenue 120,000 122,500 2,500
Other charges for services 2,750,000 3,415,798 665,798
Total charges for services 3,520,000 4,316,905 796,905
Other - 27,890 27,890
Total operating revenues 109,791,200 109,226,819 (564,381)
Operating Expenditures
Personal services 19,949,830 19,930,133 19,697
Maintenance and operations 25,645,235 23,519,501 2,125,734
Total operating expenditures 45,595,065 43,449,634 2,145,431
Operating income 64,196,135 65,777,185 1,581,050
Nonoperating Revenues (Expenditures)
Intergovernmental revenue 1,610,810 1,614,268 3,458
Investment income - 6,798,237 6,798,237
Proceeds from sale of assets - 63,402 63,402
Interest and fiscal charges (20,193,575) (20,779,960) (586,385)
Principal retirement (27,457,630) (28,436,568) (978,938)
Total nonoperating expenditures, net (46,040,395) (40,740,621) 5,299,774
Income before capital contributions and transfers 18,155,740 25,036,564 6,880,824
Capital Contributions
Conveyances - 7,888,376 7,888,376
Intergovernmental revenue - 1,788,645 1,788,645
Total capital contributions - 9,677,021 9,677,021
Transfers Out
General fund (83,010) (70,794) 12,216
Solid waste disposal fund (362,250) (362,213) 37
Total transfers out (445,260) (433,007) 12,253
Change in net position - modified accrual basis $ 17,710,480 $ 34,280,578 $ 16,570,098
Reconciliation of Modified Accrual Basis to Full Accrual Basis
Change in Net Position - Modified Accrual Basis $ 34,280,578
Depreciation (26,939,559)
Amortization of financing costs (887,039)
Principal retirement 28,436,568
Book value of disposed assets 2,495,580
Interest expense, net of investment income,
capitalized on construction projects 2,884,821
Increase (decrease) in deferred outflows of resources - pensions (1,263,741)
(Increase) decrease in net pension liability 1,188,177
(Increase) decrease in deferred inflows of resources - pensions 106,085
(Increase) decrease in net OPEB liability 800,316
(Increase) decrease in deferred inflows of resources - OPEB (607,438)
Change in Net Position - Full Accrual Basis $ 40,494,348

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