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Rswa Financial Report

Rswa Financial Report

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Published by: readthehook on Apr 02, 2009
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MEMORANDUM
TO:
RIVANNA SOLID WASTE AUTHORITY
BOARD OF DIRECTORS
FROM:
LONNIE WOOD, DIRECTOR OF FINANCE AND
ADMINISTRATION
REVIEWED BY:
THOMAS L. FREDERICK, EXECUTIVE DIRECTOR
SUBJECT:
FEBRUARY 2009 FINANCIAL SUMMARY
DATE:
MARCH 23, 2009
The results of operations and remediation activities for the first eight months of FY 2009 are
summarized below:
Operational
Remediation
Results
Results
Total
Total Revenues
2,690,513
$
1,342,556
$
4,033,069
$
Total Expenses
2,874,085
1,990,838
4,864,923
Surplus/(Deficit)*
(183,572)
$
(648,282)
$
(831,854)
$
* Cash reserves are used for deficits

Total operational revenues and expenses through February are less than budgeted amounts,
resulting in a $184,000 deficit from operations; however, this will be covered by additional
revenue in the coming weeks as the \u201ctrue-up\u201d is released for service contribution fees for FY
2008 and for the first two quarters of 2009 in accordance with the solid waste agreement
executed in December of 2007.

Year-to-date environmental expenses are $718,000 under budget and environmental revenues
are $163,000 over straight-line budget. The deficit shown above for remediation was
planned, as this year\u2019s Cell 3 expenses are being covered by reserves from revenue collected
in previous fiscal years. The largest planned expense was for the new Cell 3-Lined and Cell
3-Unlined leachate collection systems, which was completed in February with the exception
of minor piping to connect the new leachate lagoon.

Attachments
5a
T:\Board\RSWA\Board Meetings 2009\March 2009\SWA FEB 2009 FINANCIAL COMMENTS.doc

RIVANNA SOLID WASTE AUTHORITY
REVENUE AND EXPENSE SUMMARY REPORT
FISCAL YEAR 2009

FOR THE MONTH ENDED 2/28/09
*Budget Target
Rate:
66.67%
Operations
Budget
Actual
Y-T-D
Budget
Actual
Y-T-D
Budget
Actual
Y-T-D
Budget
Actual
Y-T-D
Budget
Actual
Y
T-D
Budget
Actual
Y-T-D
REVENUES
Ivy Tipping Fees
344,540
$
171,339
344,540
$
171,339
Ivy MSW Tipping
1,333,500
782,509
1,333,500
782,509
BFI-MSW Transfer
1,798,000
905,437
1,798,000
905,437
Material Sales-Ivy
56,000
46,354
56,000
46,354
Recycling
365,000
273,659
365,000
273,659
Other Revenues
-
12,386
-
12,386
Interest and Late Fees
210,700
98,285
210,700
98,285
-
Total Revenues
4,107,740
$
2,289,970
$
400,540
$
230,080
$
1,333,500
$
782,509
$
1,798,000
$
905,437
$
365,000
$
273,659
$
210,700
$
98,285
$
Budget vs. Actual*
55.75%
57.44%
58.68%
50.36%
74.98%
46.65%
EXPENSES
Ivy Operations
459,958
245,499
459,958
245,499
MSW Transfer-Ivy
1,464,136
981,070
1,464,136
981,070
MSW Transfer-BFI
1,196,571
677,376
1,196,571
677,376
Recycling Operations
669,256
452,793
669,256
452,793
Administration
615,857
358,515
615,857
358,515
Debt Service
236,018
158,833
236,018
158,833
Total Expenses
4,641,796
2,874,085
459,958
245,499
1,464,136
981,070
1,196,571
677,376
669,256
452,793
851,875
517,348
Budget vs. Actual*
61.92%
53.37%
67.01%
56.61%
67.66%
60.73%
Net Operating Income (Loss)
(534,056)
$
(584,114)
$
(59,418)
$
(15,419)
$
(130,636)
$
(198,561)
$
601,429
$
228,062
$
(304,256)
$
(179,133)
$
(641,175)
$
(419,062)
$
Other Funding Sources
Local Government Contributions
534,056
400,542
75.00%
Surplus (Deficit) - Operations
-
$
(183,572)
$
Environmental Programs
Budget
Actual
Y-T-D
REVENUES
Remediation Support
1,729,082
1,342,556
Other Revenues - Climate Credits
40,000
-
Total Revenues
1,769,082
1,342,556
Budget vs. Actual*
75.89%
EXPENSES
Ivy Environmental
4,065,082
1,990,838
Budget vs. Actual*
48.97%
Cash Reserves Used
2,296,000
648,282
Surplus (Deficit) - Environmental
-
$
-
$
Total Surplus (Deficit)
-
$
(183,572)
$
TRANSFER
MSW-IVY
MSW-BFI
RECYCLE
ADMIN.
TRANSFER
OPERATIONS
SERVICES
IVY
OPERATIONS
SWA Monthly Results FY 2009 - Feb.xls
Page 1

Rivanna Solid Waste Authority
Monthly Financial Status Report
FY 2009

July
August
September
October
November
December
January
February
Year-to-Date
Revenues
Ivy Tipping Fees
34,308
$
24,837
$
17,320
$
39,825
$
17,745
$
12,043
$
10,176
$
15,085
$
171,339
$
Ivy MSW Tipping
116,298
114,327
106,118
106,328
89,564
87,678
84,110
78,086
782,509
BFI - MSW Transfer
173,000
143,823
129,870
126,895
104,016
90,094
74,043
63,696
905,437
Material Sales - Ivy
9,137
9,273
6,868
9,268
1,807
3,578
2,741
3,682
46,354
Recycling
32,882
38,274
75,658
35,656
40,072
18,702
16,662
15,752
273,659
Other Revenues
1,158
159
688
179
9,831
82
260
29
12,386
Remediation Support
569,505
-
-
249,309
-
-
523,743
-
1,342,556
Interest & Late Fees
14,991
16,353
14,702
16,242
14,668
9,251
6,647
5,432
98,285
Total Revenues
951,278
347,047
351,224
583,703
277,702
221,429
718,381
181,763
3,632,527
Expenses
Ivy-Operations
42,730
34,923
26,518
32,304
25,805
27,091
28,510
27,618
245,499
Ivy-Environmental
255,891
199,679
178,389
16,258
1,005,863
16,792
160,125
157,841
1,990,838
MSW -Ivy
139,563
132,469
120,421
139,526
105,893
124,414
115,441
103,343
981,070
MSW -BFI
115,579
117,258
96,719
94,144
77,515
68,532
57,801
49,827
677,376
Recycling Operation
56,206
45,215
55,873
69,318
67,948
52,289
48,356
57,588
452,793
Administration
43,538
36,505
39,109
37,049
41,949
48,703
39,770
36,508
323,131
Administration-Legal
-
15,951
2,419
9,634
4,260
1,493
-
1,628
35,384
Debt Service
19,958
20,191
19,999
19,815
19,859
19,766
19,650
19,594
158,833
Total Expenses
673,465
602,189
539,447
418,048
1,349,093
359,080
469,654
453,946
4,864,923
Net Operating Income (Loss)
277,813
(255,142)
(188,223)
165,655
(1,071,391)
(137,652)
248,727
(272,183)
(1,232,396)
Other Funding Sources
Local Government Contributions
133,514
-
-
92,659
-
-
174,369
-
400,542
Use of Cash Reserves
64,454
(233,051)
1,005,863
16,792
(363,617)
157,841
648,282
Surplus (Deficit)
411,327
(255,142)
(123,769)
25,263
(65,528)
(120,860)
59,479
(114,342)
(183,572)
SWA Monthly Results FY 2009 - Feb.xls
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