Meeting Date: November 13, 2014
Agenda Item #11
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Note 8 – Deficit Fund Balances
Fund Balance and Retained Earnings Deficits – The following is a summary of deficit fund balances and retained earnings as of June 30, 2014:
Enterprise Funds Sanitation $ (103,646)
Industrial Waste Water (1,077,634)
(Total) $ (1,181,280)
The deficit fund balance in the Sanitation-Enterprise Fund is due to an increase in sanitation enterprise fund costs. The deficit is being negated by an increase in sanitation operating revenues.
The deficit fund balance in the Industrial Waste Water-Enterprise Fund is due to the settlement of various receivables and capital costs with Foster Farms. The deficit is expected to be negated by future revenues and transfers from other funds.