Financial and Budgets
The District’s annual financial reports (audit reports) may be selected for viewing at the bottom of this page.
2011 BUDGET MESSAGE
The attached 2011 Budget for Lookout Mountain Water District includes these important features:
The District maintains an enterprise fund and a general fund. The enterprise fund contains the operational related revenue and operational expenses. The general fund contains property tax and ownership taxes which may be used to subsidize the enterprise fund or for cash reserves. The District continues to maintain its accounts on a modified accrual basis and its budget on a cash basis.
Enterprise Fund
Water revenue is estimated at $20,830 per month and the minimum charge will increase in 2011 to support this. The water rates are struectured in tiers to encourage greater conservation awareness on an ongoing basis.
Administrative expenses are for a normal year. Operations expenses are for normal operations. Capital expeditures have been budgeted for various treatment, and distribution system improvements.
Water revenue and other enterprise fund revenue is short of covering enterprise fund expenses (administration, operations, debt service, and capital improvements), so the shortfall is supplemented from the general fund.
General Fund
General fund revenue includes real property taxes and specifice ownership taxes. The real property tax levy remains the same as last year at 17.7000.
Ending cash reserves are estimated at about $158,440 (total for Enterprise and General funds), which is 16% of the sum for the year of budgeted operations, administration and debt service.
The services to be provided during the budget year are the following: Water service for residential, commercial and government customers, primarily residential. Total outstanding obligation to serve is 565 taps. Estimated to be in service by year end is 503 taps.
Click the links below for additional 2011 Budget files:
LMWD 2011 Budget Worksheet Select this link to open the worksheet containing the District’s 209 actual, 2010 forecast and budget and the adopted 2011 budget as of December 2010.
2010 BUDGET MESSAGE
The attached 2010 Budget for Lookout Mountain Water District includes these important features:
The District maintains an enterprise fund and a general fund. The enterprise fund contains the operational related revenue and operational expenses. The general fund contains property tax and ownership taxes which may be used to subsidize the enterprise fund or for cash reserves. The District continues to maintain its accounts on a modified accrual basis and its budget on a cash basis.
Enterprise Fund
Water revenue is estimated at $18,000 per month. The water rate structure was modified in 2006 to encourage greater conservation awareness on an ongoing basis; changes in the rates for 2010 are currently not planned but could be reviewed and changed during the year.
Administrative expenses are for a normal year. Operations expenses are for normal operations. Capital expeditures are contemplated for some infrastructure to pipelines including replacement, metering, valves and air relief.
Water revenue and other enterprise fund revenue is short of covering enterprise fund expenses (administration, operations, debt service, and capital improvements). This shortfall will be subsidized with funds from the general fund revenue including ownership taxes.
General Fund
Real property taxes are higher than last year due to an increase in the assessed valuation and an increase in the mil levy to 17.700 from a temporary reduction during the last calendar year of 16.200.
Ending cash reserves are estimated at about $282,500 (total for Enterprise and General funds), which is about 40% of the sum for the year of budgeted operations, administration and debt service.
The services to be provided during the budget year are the following: Water service for residential, commercial and government customers, primarily residential. Total outstanding obligation to serve is 565 taps. Estimated to be in service by year end is 503 taps.
Select the link below to open the worksheet containing the District’s 2009 actual and budget and the adopted 2010 budget as of December 2009.
2009 BUDGET MESSAGE
Lookout Mountain Water DistrictThe attached 2009 Budget for Lookout Mountain Water District includes these important features:
The District maintains an enterprise fund and a general fund. The enterprise fund contains the operational related revenue and operational expenses. The general fund contains property tax and ownership taxes which may be used to subsidize the enterprise fund or for cash reserves. The District continues to maintain its accounts on a modified accrual basis and its budget on a cash basis.
Enterprise Fund
Water revenue is conservatively estimated at $18,000 per month. The water rate structure was modified in 2006 to encourage greater conservation awareness on an ongoing basis and no changes in the rates for 2009 are currently planned.
Administrative expenses are for a normal year. Operations expenses are for normal operations. Capital expeditures are for minor capital projects.
Water revenue and other enterprise fund revenue is about $472,000 short of covering enterprise fund expenses (administration, operations, debt service, and capital improvements). This shortfall will be subsidized with $380,000 from the general fund revenue including real property taxes and ownership taxes and the remaining from existing cash reserves.
General Fund
Real property taxes are about $7,000 higher than last year due to an increase in the assessed valuation, with the mil levy remaining at 16.200.
Ending cash reserves are estimated at about $217,000 (total for Enterprise and General funds).
The services to be provided during the budget year are the following: Water service for residential, commercial and government customers, primarily residential. Total outstanding obligation to serve is 565 taps. Estimated to be in service by year end is 505 taps.
Click below to open the Annual Financial Reports (Audit Reports):
Lookout Mountain Water District 2010 Financial Report
Lookout Mountain Water District 2009 Financial Report
Lookout Mountain Water District 2008 Financial Report
Lookout Mountain Water District 2007 Financial Report