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Enterprise Funds <br />•Water Operating Fund net results: $138K <br />•Reserve: $7.5M <br />•Below 35% reserve target <br />•Major operating deficit without rate increase and $2.7M transfers from the <br />capital funds <br />•No excess funds for capital investments <br />•Sewer Operating Fund net results: $1.1M <br />•Reserve: $8.7M <br />•Above 35% reserve target <br />•Operating deficit without rate increase and $1.0M transfer from the capital fund <br />•No excess funds for capital improvements <br />13 <br />Enterprise Funds (cont.) <br />•Storm Drain Fund net results: $0.3M <br />•Reserve: $0.6M <br />•Negative net results without $1.0M transfers from the General Fund and the <br />capital fund <br />•Ongoing General Fund subsidy for operations and capital projects <br />•Cemetery Fund net results: -$0.4M <br />•Reserve: $0.1M <br />•$0.3M one-time prior year revenue adjustment <br />•Fund balance will run out as early as FY 2024/25 <br />•General Fund contribution will likely need to be increased in future years <br />14 <br />Page 255 of 658