11 - Third Quarter Budget Report Costa Mesa Sanitary District …an Independent Special District Protecting our community’s health and the environment by providing solid waste and sewer collection services. www.cmsdca.gov Memorandum To: Board of Directors From: Scott Carroll, General Manager Date: May 23, 2013 Subject: 3 rd Quarter Budget Report Summary The following report is a brief analysis of District expenditures through the end of the third quarter (July - Marc h ) of Fiscal Year 2012 -13 . Staff Recommendation That the Board of Directors receive and file this report. Analysis Overall, the solid and liquid waste funds are projected to end in a surplus of approximately $4,555,942 by the end of the fiscal year. Of this amount, $4,018,715 is from the CIP budget. The Solid Waste Fund is projected to have a surplus balance of $327,478 and the Liquid Waste Fund is projected to have a surplus balance of $4,228,464 . The projected surplus from the Solid Waste Fund is due to savings by not hiring consultants for the Zero Waste Plan ($50,000) and branding activities ($15,000). In addition, election costs were less than expected at a savings of $10,11 1. In October 2012, the Board approved $2,805,930 in carry forwards in which 98% of this amount is for CIP projects. In addition, the Board made budget adjustments in the amount of $876,185 for emergency work to rehabilitate the Santa Ana and 23 rd Street force mains ($700,000) and for the PICA analysis of additional force mains ($176,185). The total working budget for the Liquid Waste Fund is $9,139,795 . Please see attached report for more detail analysis. The next quarterly budget report , which will also be the year end budget report, wi ll be presented to the Board in August 2013 . ITEM NO. 11
Board of Directors May 23, 2013 Page 2 of 2 Strategic Plan Element & Goal This item supports achieving Strategic Element No. 7.0, Finance Goal No. 7.1, Develop quarterly budget reports . Legal Review Not applicable. Financial Review See attached report. Committee Recommendation Not applicable Public Notice Process Copies of this report are on file and will be included with the entire agenda packet for the May 23 , 2013 Board of Directors regular meeting at District Headquarters and on District website. Alternative Actions 1. Refer the matter back to staff for additional information. Attachments A: 3 rd Quarter Budget Report (July 2012 – March 201 3 ) Reviewed by: Marc Davis Interim Accounting Manager ITEM NO. 11