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Village water fund set to balance; bond debt payment noted at about $76,000
Summary
The presenter said the proposed water fund budget appropriates $267,260, expects the same in user-fee revenue (no draw from fund balance), and lists annual bond debt service tied to a water tank of about $76,000.
Presenter said the water fund proposes appropriations of $267,260 and estimated revenue of $267,260 from user fees, so the water fund would not require a draw from fund balance. "We estimate revenue of 267,260," the presenter said when describing the water fund.
He described operating and testing costs and a contingency for unanticipated events. The presenter also noted a bond payment related to construction of a water tank from about a decade ago and stated the annual debt service cost is "about $76,000." No public comments on the water fund were submitted at the hearing.
