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Page 10 of 15 <br />Table 8. Sewer O&M Funds – Amended Budget vs. Actual <br /> <br /> <br />Storm Drain Operating Fund <br />As shown in Table 9, the Storm Drain Operating Fund began and ended FY 2022/23 with a <br />negative fund balance. While actual expenditures were less than the amended budget by <br />approximately $0.1 million, the Storm Drain Fund has been operating at a major funding deficit <br />in recent years due to revenues generated from Urban Runoff Fees hovering around $0.5 <br />million annually while operating costs have been increasing each year. An annual subsidy from <br />the General Fund has been used to cover some of the operating costs, but with the deficit <br />growing each year, the level of subsidy has been growing correspondingly; this approach is not <br />sustainable. As noted earlier in the report, staff recommends an additional, one-time transfer of <br />$1.0 million from the General Fund to address the negative fund balance issue as a short-term <br />solution. Staff will explore options to solve the funding issue and present recommendations to <br />the City Council at a later date. <br /> <br />Table 9. Storm Drain Operating Fund – Amended Budget vs. Actual <br /> <br />Cemetery Fund <br />As shown in Table 10 below, the Cemetery Fund ended the year with a fund balance of <br />approximately $0.5 million, slightly less than anticipated in the amended budget due to actual <br />revenues and expenditures less than the budget by $40,000 and $8,000, respectively. <br />Revenues are derived from burial plot sales and corresponding expenditures are related to <br />burials, both of which are challenging to predict. The General Fund budget includes a transfer <br />of $50,000 to the Cemetery Fund. <br /> <br />Page 262 of 270