Details for Riceville Utility Budget

RICEVILLE UTILITY DISTRICT
OF MCMINN COUNTY, TENNESSEE
BUDGET - YEAR ENDING JUNE 30, 2015
REVENUE
  Water Revenue.........................................................................................................................$583,442
  Tap Fees........................................................................................................................................15,000
  Other Fees....................................................................................................................................30,000
 Interest............................................................................................................................................1,200
TOTAL REVENUE......................................................................................................................$629,642
EXPENDITURES
Operating Expenses
  Water Purchased......................................................................................................................$135,000
 Repairs..........................................................................................................................................40,000
 Insurance......................................................................................................................................10,000
  Professional Fees...........................................................................................................................2,000
 Miscellaneous..............................................................................................................................12,000
 Utilities..........................................................................................................................................12,500
 Salaries..........................................................................................................................................73,382
  Payroll Taxes & Insurance..........................................................................................................22,750
 Retirement......................................................................................................................................6,663
  Truck Expense................................................................................................................................6,500
  Tap Fee Expense..........................................................................................................................12,000
  Seminars - Workshops - Annual Dues	��������������������������������������������������������������������������������������7,000
  Contract Labor...............................................................................................................................2,000
  Sample Testing...............................................................................................................................4,000
TOTAL OPERATING EXPENSES.............................................................................................$345,795
ADMINISTRATIVE EXPENSES
 Advertising.......................................................................................................................................800
  Billing Supplies..............................................................................................................................6,000
  Legal & Professional.....................................................................................................................8,750
 Miscellaneous................................................................................................................................1,500
  Office Expense...............................................................................................................................3,500
 Salaries..........................................................................................................................................75,555
  Payroll Taxes & Insurance..........................................................................................................22,916
 Retirement......................................................................................................................................6,860
  Commissioner Compensation.....................................................................................................3,600
TOTAL ADMINISTRATIVE EXPENSES	��������������������������������������������������������������������������������$129,481
TOTAL OPERATING AND ADMINISTRATIVE EXPENSES	���������������������������������������������$475,276
NET PROFIT BEFORE DEPRECIATION AND INTEREST EXPENSE...............................$154,366
 Depreciation............................................................................................................................. $112,000
  Interest Expense..........................................................................................................................31,548
NET PROFIT..................................................................................................................................$10,818
OTHER
  Debt Services..............................................................................................................................$44,880
  Additions to Reserve Accounts	�����������������������������������������������������������������������������������������������������600
NET FINANCIAL POSITION...................................................................................................$622,610
Pursuant to the provisions of TCA 7-82-501(e) (1), REPORT OF THE STATE DIRECTOR OF
THE OFFICE OF STATE AND LOCAL FINANCE from David H. Bowling, Director - Division
of Local Finance. We have reviewed the information submitted to this office concerning the
2015 fiscal year budget for Riceville Utility District and it appears the projected revenues will
be sufficient to meet anticipated cash expenditures for the fiscal year.


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