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081604_ Workshop_Item _I_Budget
COMMISSION AGENDA
ITEM 1
Consent
Informational
Public Hearing
Regular
August 16, 2004
WORKSHOP
~
Mgr. / Dept.
Authorization
REQUEST: City Manager requesting the Commission to finalize its consensus relative to
outstanding budget issues.
PURPOSE:
This agenda item is needed for the Commission to provide consensus on remaining budget issues
which will be incorporated into the tentative budget that will be submitted to the Commission at
its September 13, 2004 meeting.
CONSIDERATIONS:
All funds are currently balanced without tax or fee increases.
The budget restoration page contains requests the Commission may want to consider adding
back to the budget and the related new tax implications.
FUNDING: N/A
RECOMMENDATION:
It is recommended that the Commission consider and provide staff with a consensus relative to
the attached budget issues.
ATTACHMENTS:
1. Budget Issues
2. Budget Questions
3. Budget Restoration Page
COMMISSION ACTION:
081604 Workshop_Item_1 Attachment I
Budget Issues
Page I of 4
BUDGET ISSUES
1. Pension System Enhancements
Based upon the discussion to date I am recommending a plan for implementing pension
plan enhancements that balance the various comments that have been provided. This
plan involves a four-year program of implementing the additional 1 % retro-active benefit
and reduction of the amortization period to at minimum 15-years.
Additional 1 % Retro-Active Benefits
Increasing the retro benefit from 2% to 3% can be accomplished in one of two ways as
follows:
A Capping merit increases in FY05 and FY06 at 3% and utilizing the 1 % merit
savings in each year to fund the 2% in new contributions required to fund the
benefit. In this concept the additional 1 % would flow directly from the City to the
Pension Trust rather than flowing through employee salaries.
Employee City Total
Merit Pay Contribution Contribution Contribution
FY03 4 3 8 11
FY04 4 3 8 11
FY05 3 3 9 12
FY06 3 3 10 13
FY07 4 3 10 13
FY08 4 3 10 13
FY09 4 3 10 13
B Capping merit raises in FY05 and FY06 at 4% and deducting 1 % from employee
salaries in the form of pension deductions from 3% to 4%.
Employee City Total
Merit Pay Contribution Contribution Contribution
FY03 4 3 8 11
FY04 4 3 8 11
FY05 4 4 8 12
FY06 4 5 8 13
FY07 4 5 8 13
FY08 4 5 8 13
FY09 4 5 8 13
081604 Workshop_Item _1 Attachment 1
Budget Issues
Page 2 of 4
Reduction of Amortization Period
It is recommended that the City contribution be increased Yz% in FY05, FY06, FY07, and
FY08 for a total of 2% to reduce the amortization period from 30 years to 15 years.
Additionally, the Commission should consider the Option of continuing to add Yz% per
year until the amortization period is reduced to O.
The Yz% for FY05 is included in the budget.
Effective Date
Implementation of the extra benefit could happen in two ways as follows:
A. Employees receiving the additional benefit would be eligible to retire at anytime
during the four-year period. However, they would receive only a pro-rata share
based upon time served. For example; if an employee served 2 of the 4 years, the
employee would receive 50% of the additional 1 % benefit; or
B. Employees receiving the additional benefit would not be eligible to retire before
their anniversary date in FY09 unless certified medically disqualified from
employment. In the case of a medically required retirement the employee would
receive a prorated portion of the benefit.
The purpose of this recommended policy is to prevent multiple retirements prior to the
new contributions being fully implemented.
Assuming the Commission chose Option "A" above for funding the increased benefit as
well as the reduction of amortization period, the implementations would happen as
follows:
Employee City Total
Merit Pay Contribution Contribution Contribution
FY03 4 3 8 11
FY04 4 3 8 11
FY05 3 3 9-1/2 12-1/2
FY06 3 3 11 14
FY07 4 3 11-112 14-112
FY08 4 3 12 15
FY09 4 3 12 15
081604 Workshop_Item_l Attachment 1
Budget Issues
Page 3 of 4
Assuming the Commission chose Option "B" above for the funding of the increased
benefit as well as the reduction of amortization period, the implementation would happen
as follows:
Employee City Total
Merit Pay Contribution Contribution Contribution
FY03 4 3 8 11
FY04 4 3 8 11
FY05 4 4 8-112 12-112
FY06 4 5 9 14
FY07 4 5 9-1/2 14-112
FY08 4 5 10 15
FY09 4 5 10 15
2. Joint Citv/School Recreational Facilitv
This matter will be coming before the Commission at the September 24, 2004 meeting
and has no budget implications at this time.
3. Urban Beautification Proe:ram
It is recommended that the Commission give consideration to funding this program with
new taxation as indicated on the attached Budget Restoration page.
4. Phase II Town Center
We still have not received information from James Doran Company needed to address
potential funding assistance for Phase II of the Town Center. This matter will have to be
addressed after adoption of the budget.
5. Reproe:rammine: U Local Option Sales Tax
This item cannot be addressed until the requirements of Phase II of the Town Center are
better understood.
6. ADA Transportation Payment
The Commission has previously decided not to make this payment to the County but has
agreed to meet with the County this coming Tuesday, August 17, 2004, 6:30PM at City
Hall to discuss it further.
081604 Workshop_Item_I Attachment I
Budget Issues
Page 4 of4
7. City Hall Expansion
There are numerous methods of providing interim financing for the addition to City Hall.
I would recommend the simplest method to be an inter fund loan arrangement with the
Solid Waste Fund. Again, this loan would be for a period oftime for impact fees to grow
to a sufficient amount to payoff the loan. Due to cost increases in construction resulting
from current market conditions caused by the "China Factor," the cost of the new
addition has been raised from $500,000 to $600,000. It will take as estimated 15-months
to complete the project from this date. I would suggest that the inter fund loan be
authorized by Resolution in order to formalize the transaction.
8. Solid Water Fund - Proforma Analvsis
Analysis Sheet "A" provides a comparison of the original proforma with the revised
proforma.
Analysis Sheet "B" provides a detailed analysis of the original proforma.
Analysis Sheet "C" provides an analysis of the variance between the original proforma
and the revised proforma.
As shown on Analysis Sheet "A" the actual ending fund balance for the nine-year
contract is expected to exceed the proforma estimate of $101,735 by $797,954 due to
larger than expected customer growth and the failure of F.R.S. to request c.P.I. increases
or to earn performance bonuses provided for in the contract. The $60,000 dispute
regarding solid waste collection at City Hall is being negotiated at this time (proforma
attached).
081604_ W orshop _Item _1_Attachment_2
Budget Questions
Page 1 of2
BUDGET QUESTIONS
1. What maintenance contracts exist in the Finance Department?
General: Time Value 5 amortization software ($100), BMI asset scanner ($400)
Utility Billing: NCF check encoder ($1,515), Datamatic handhelds ($3,836), Basetek mail
stuffer ($353), Basetek mail machine ($1,625).
2. What do the fund balances represent in the Debt Service Funds?
Fund balances in the funds 182, 206, and 215 represent monies due on October 1 s" balances in
Fund 225 monies for January 1 payment and balances in Fund 230 monies for December 1
payment.
3. Are any fess charged to offset field maintenance or personnel costs against cost of
programs?
No, program fees only cover program expenses, facility and equipment rental, promotional
literature, umpires, referees, licensing and certification of counselors.
4. In fund 140, are signal projects 30006 and 30022 the same project?
No, the name of project #30006 was changed to SR 434/Central Winds Parkway signal.
5. Is the 2004 Line of Credit a revolving line?
No, per David Moore (financial Advisor) and Mike Williams (Bond Counsel).
6. In fund 305 (1999 Construction Fund), is there a FRDAP grant that will reduce the trail
cost of $870,000?
No, however, parks and Recreation plans to apply for a future FRDAP Grant for $200,000
toward Magnolia Park for 2005 (per Chuck Pula).
7. A question arose as to Arbor Fund semantics.
The Arbor Fund was created in FY 2001 as a way to segregate funds in order to maintain a level
of plantings within the City of Winter Springs. Tree bank revenues are identified in Chapter 5 of
the Code of Ordinances as funds paid by developers/homeowners as an alternative to replacing
trees. Monies collected for the tree bank are used for enhancement and maintenance of trees on
public land and are placed in the Arbor Fund. This fund has other revenue streams such as arbor
permit fees and licenses which are committed to the same purpose.
081604_ W orshop _Item _1_Attachment_ 2
Budget Questions
Page 2 of2
8. What are Industry Standards regarding reserves in Enterprise Fund?
There are no industry standards as such. However, a prudent policy is made up of three factors.
1. Bond Covenants: An Enterprise Fund must maintain sufficient cash flows to
satisfy legal coverage requirements on Bond Issues.
Winter Springs Utility is required to satisfy a 1.2 debt coverage ratio and
restricted reserve funds and insurance specific to each bond issue.
2. Unrestricted Cash Operating Reserves: This is business decision. City policy
mandates at minimum 90-day operating reserve and a 5% renewal and
replacement reserve.
3. Debt Philosophy: This is a business decision deciding the levels of debt our city is
willing to accept in the alternative to paying for capital improvements in cash.
The City capital improvements plan provides for a level debt flow for future years
with other improvements funded from cash reserves. The City currently has
sufficient cash reserves to pay for Capital Improvements in our CIP from cash.
All of these issues were reviewed in the Rate Study that was adopted by the Commission in
2001.
A new rate study should be performed in 2006.
CITY OF WINTER SPRINGS
FY '05 BUDGET WORKSHOP
COMMISSION ALTERNATIVES WORKSHEET
AMOUNT MILLAGE ,q"~'~"-----COMMISS10N WORKSHEET ,.--.---.--
MILLAGE PER PRELIMINARY BUDGET 4.3000 4.3000 4.3000 4.3000 4.3000 4.3000
1- Very Important:
Urban Beautification Maint Worker $30,000 0.0211 Ie --_. -- . , '.. 'He'
Urban Beautification Prooram $15000 0.0105 '0 '.. e
2- Important: ~.
. I I'~., ......=":.
Parks & Rec - arounds maintenance worker $29,080 0.0204 ... i..' .... . ..
. . .. .
Parks & Rec - overtime $9 233 0.0065 ...-. ..
..
.'
.,.. .... ..,.
3- Nice but not Essential: I' , .' ... .:: ..
New Human Resources emolovee + related caoital $38,362 0.0269
,: ..- .... '"
New Communitv Dev emolovee + related caoital $46,022 0.0323 " '.'. ...'. e ....... '.
(if denied, reauest is for $7K in outside services; .0049 mills! . '. . ..... ..
$13,400 e. . .".~. .. ..
Enhanced Health Insurance Ootion 0.0094 , . .
Citv Manaoer - Ooeratino $1,200 0.0008 . , . e. C ....
.. ..
Citv Clerk - OoeratinQ $1,300 0.0009
General Services.. Ooeratino $1,300 0.0009 "
'.'
Information Services - OperatinQ $3,300 0.0023 . . ..
'I
Public Works - Streetliohtino $10,000 0.0070 e
Police - Ooeratina $26,000 0.0182 .
..
.
Fire - Ooeratino $18,350 0.0129
'. .... 'e
General Government - ADA Para Transit $81,728 0.0574
. .e
Parks - multi-media projector (oossiblv financed bv leaoues) $3,000 0.0021
. .
e .
.
Total $327,275 4.5296 "e" . .. .. . . ..
"
Solidwaste - Sheet A
SOUD WASTE 9 YEAR ACTUAL
CURRENT CUSTOMER RATE AT 13.68
(origin8/)
ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL ACTUAL [PFlOJ~CTEO PROJi:CTE;D I ; PROJECTED PROFORMA
YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 YEAR 9 TOTALS TOTALS VARIANCE
10/1196- 10/1/97- 10/1/98- 10/1199- 10101100- 10101101- 10/01102- 10/01103- 10101/04- Through Through
9130/97 9130/98 913O/99 9130100 9/30101 9/30102 9/30103 9/30104 9/30105 9/30105 9/30/05 FAV(UNFAV)
FUND SUMMARY 13,444,704 ;- j 50,3301
REVENUES 1,310,328 1,365,471 1,423,585 1,502,506 1,418,513 1,549,073 1,724,358 1,641,200 1,660,000 13,595,034 ;
EXPENSES TO BFIIFRS 1,200,486 1,155,922 1,197,026 1,162,306 1,357,125 1,316,051 1,376,156 1,432,200 1,485,430 11,682,702 . 12,409,6561 726'954'1
INTEREST INCOME 10,974 10,000 10,000 30,974 49,487 (18,513)
EXPENSES OTHER 2,880 0 0 7,180 0 0 1,168 24,608 15,000 50,836 . (50,836)
TRANSFER TO CITY 53,481 98,400 98,400 102,000 108,000 108,000 183,000 120,000 121,500 992,781 982,800 (9,981)
SURPLUS (DEFICIT) 53,481 111,149 128,159 231,020 -46,612 125,023 175,007 74,392 48,070 899,689 101,735 797,954
BEGIN YR FUND BAL. 0 53,481 164,630 292,789 523,809 477,197 602,220 777,227 851,619
END YR FUND BAL. 53,481 164,630 292,789 523,809 477,197 602,220 777,227 851,619 899,689
REVENUES
MO. CUST RATE $13.68 $13,68 $13.68 $13.68 $13.68 $13.68 513.68 S13.68 $13.68
'X CUST ACCTS 7,982 8,318 8,672 9,153 8,641 9,436 10,504 9,998 10,112
MONTHLY REVENUE $109,194 $113,789 $118,632 $125,209 $118,209 $129,089 $143,696 $136,767 S138,333
X MONTHS 12 12 12 12 12 12 12 12 12
ANNUAL BILL S1,310,328 S1,365,471 $1,423,585 51,502,506 S1,418,513 S 1,549,073 $1,724,358 S1,641,200 S1,660,OOO
INT EARNED SO $0 $0 SO SO $0 $10,974 S10,OOO $10,000
TOTAL REV. $1,310,328 $1,365,471 51,423,585 S 1,502,506 Sl,418,513 S 1,549,073 $1,735,331 $1,651,200 S 1,670,000 S 13,626,007
EXPENSES
X MO. COLLECT RATE $7.55 S7.55 $7.55 $7.55 $7.55 S7.55 $7.55
X ANNUAL C.P.I. INCREASE
C.P.1. INCREASE AMOUNT
ADJ. MO. COLLECT RATE $7.55 $7,55 $7.55 S7.55 $7.55 $7.55
MO. PASSTHROUGH HJ.Q ~ ~ ~ Hm: Hm:
PAY TO BFI/FRS PER CUSTOMER 511.65 S11,65 $11.65 $11.65 $11.62 $11.62 '$)1.'(,' S11.94 $12.23
AVERAGE MONTHLY PYMT TO BFIIFRS $100,041 $96,327 S99,752 $96,859 5113,094 S109,671 $114,680 $119,350 S123,786
TOTAL ANNUAL PYMT TO BFI/FRS $1,200,486 $1,155,922 $1,197,026 $1,162,306 $1,357,125 $1,316,051 $1,376,156 $1,432,200 $1,485,430 S11,682,702
MO. ADM. COST 50,65 $0.65 $0.65 SO.65 SO.65 $0.65 SO.65 SO.65 $0.65
MO. FRANCHISE FEE ~ ~ ~ ~ ~ ~ ~ ~ ~
PAY TO CITY PER CUSTOMER $1.00 S1,OO $1.00 $1.00 $1,00 $1.00 $1.00 $1.00 Sl.00
AVERAGE MONTHLY PYMT TO CITY $4,457 S8,2OO $8,200 $8.500 $9,000 $9,000 $15,250 $10,000 $10,125
TOTAL ANNUAL PYMT TO CITY $53,481 $98,400 $98,400 $102,000 S108,OOO $108,000 $183,000 $120,000 $121,500
TOTAL MO. COST PER CUSTOMER $12,65 512.65 $12.65 $12.65 $12.62 $12.62 $12.71 S12.94 $13.23
MONTHLY EXPENSES 5104,497 $104,527 $107,952 $105,359 5122,094 $118,671 5129,930 S129,350 S133,911
SUBTOTAL ANNUAL EXP. $1,253,967 $1,254,322 $1,295,426 $1,264,306 $1,465,125 $1,424,051 $1,559,156 $1,552,200 $1,606,930
CUSTOMER ACCTS. 8,587 8,268 8,562 8,314 9,733 9,438 9,793 10,000 10,126
MONTHS 12 12 12 12 12 12 12 12 12
CONSULTANT EXPENSE $2,880 $0 SO $7,180 SO $0 $0 52,300 $0 $12,360
ANNUAL PERFORM. BONUS $0 SO $0 SO $0 $0 $0 $0 $0
ANNUAL PERFORM. SURVEY $0 SO SO SO SO $0 $0 SO $0
TOTAL ANNUAL COST $1,256,847 $1,254,322 $1,295,426 51,271,486 $1,465,125 $1,424,051 $1,559,156 $1,554,500 $1,606,930
ADMINISTRATIVE COST INCOME $66,980 $84,494 586,787 $64,850 $75,915 $73,617 $76,368 $78,000 578,980 S646,010
FRANCHISE FEE INCOME $36,066 $34,727 $35,962 $34,919 $40,877 $39,640 S41,132 $42,000 $42,528 $347,851
TOTAL INCOME TO CITY - BUD & SIB REC $103,046 599,221 $102,749 $99,769 $116,792 $113,257 $117,520 $120,000 $121,508 $993,861
TOTAL INCOME TO CITY - ACTUALLY REC 553,481 $98,400 $98,400 $102,000 $108,000 $108,000 $183,000 $120,000 $121,500 $992,781
INCOME DUE CITY $49,565 $821 $4,349 ($2,231) $8,792 $5,257 ($65,480) $0 $8 (S1,080L
U:\OocsIFinancial-Other\SOLIDWASTEPROFORMASOUDWASTE PROFORMA
'-
Solidwaste - Sheet B
SOLID WASTE 9 YEAR PROFORMA
CURRENT CUSTOMER RATE AT 13.68
ANNUAL INCREASE OF 300 CUSTOMERS PER YEAR
2.5% C.P.1. INCREASE PER YEAR
YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 6 YEAR 9 TOTAL
3/1/97-2128/98 3/1/98-2126/99 3/1199-2/28/00 3/1/00-2128/01 3/1101-2128/02 3/1102-2128/03 3/1103-2/28/04 3/1104-2126/05 3/1105-2/28/06
FUND SUMMARY
REVENUES $1,301,352 $1,350,824 $1,400,308 $1,449,803 $1,499,311 $1,548,832 $1,598,366 $1,647,915 $1,697,479 $13,494,191
EXPENSES $1,211,220 $1,275,456 $1,341,060 $1.411,568 $1,481,056 $1,553,092 $1,629,140 $1,706,600 $1,783,244 $13,392,456 .
SURPLUS (DEFICIT) $90,132 $75,368 $59,248 $38,215 $18,255 ($4,260) ($30,774) ($58,685) ($85,765) $101,735
BEGIN YR FUND BAL. 0 $90,132 $165,500 $224,748 $262,964 $281,219 $276,959 $246,185 $187,500 $0
END YR FUND BAL. $90,132 $165,500 $224,746 $262,964 $281,219 $276,959 $246,185 $187,500 $101,735 $101,735
'Includes admin/franchise
REVENUES
MO. CUST RATE $13.68 $13.66 $13.68 $13.68 $13.66 $13.68 $13.68 $13.68 $13.66
X CUST ACCTS 7,900 8,200 8,500 6,800 9,100 9,400 9,700 10,000 10,300
MONTHLY REVENUE $108,072 $112,176 $116,280 $120,384 $124,488 $128,592 $132,696 $136,800 $140,904 $1,120,392
X MONTHS 12 12 12 12 12 12 12 12 12 12
ANNUAL BILL $1,296,864 $1,346,112 $1,395,360 $1,444,608 $1,493,856 $1,543,104 $1,592,352 $1,641,600 $1,690,846 $13.444,704
INT EARNED $4 .486 $4,712 $4,946 $5,195 $5.455 $5,728 $6,014 $6,315 $6,631 $49,467
TOTAL REV. $1,301,352 $1,350,824 $1,400,308 $1,449,803 $1,499,311 $1,546,832 $1,598,366 $1,647,915 $1,697,479 $13,494,191
EXPENSES
X MO. COLLECT RATE $7.55 $7.55 $7.74 $7.93 $6.13 $8.33 $8.54 $8.76 $8.97
X ANNUAL C.P.1. INCREASE 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5%
C.P.1. INCREASE AMOUNT $0.19 $0.19 $0.20 $0.20 $0.21 $0.21 $0.22 $0.22
ADJ. MO. COLLECT RATE $7.55 $7.74 $7.93 $8.13 $8.33 $8.54 $8.75 $8.98 $9.19
MO. PASSTHROUGH $4.10 $4.10 $4.10 $4.10 $4.10 $4.10 $4.10 $4.10 $4.10
MO. ADM. COST $0.65 $0.65 $0.65 $0.65 $0.65 $0.65 $0.65 $0.65 $0.65
MO. FRANCHISE FEE $0.35 $0.35 $0.35 $0.35 $0.35 $0.35 $0.35 $0.35 $0.35
TOTAL MO. EXPENSE $12.65 $12.84 $13.03 $13.23 $13.43 $13.64 $13.85 $14.08 $14.29
X CUSTOMER ACCTS. 7,900 6,200 8,500 8,800 9,100 9.400 9,700 10,000 10,300
MONTHLY EXPENSES $99,935 $105,286 $110,755 $116,424 $122,213 $128,216 $134,345 $140,800 $147,187 $1,105,163
X MONTHS 12 12 12 12 12 12 12 12 12 12
SUBTOTAL ANNUAL EXP. $1,199,220 $1,263,456 $1,329,060 $1,397,086 $1,466,556 $1,538,592 $1,612,140 $1,689,600 $1,766,244 $13,261,956
ANNUAL PERFORM. BONUS $10,000 $10,000 $10,000 $12,500 $12,500 $12,500 $15,000 $15,000 $15,000 $112,500
ANNUAL PERFORM. SURVEY $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $18,000
TOTAL ANNUAL COST $1,211,220 $1,275.456 $1,341,060 $1,411,588 $1,481,056 $1,553,092 $1,629,140 $1,706,600 $1,783,244 $13,392,456
ADMINISTRATIVE COST INCOME $61,620 $63,960 $66,300 $68,640 $70,980 $73,320 $75,660 $76,000 $80,340 $638,820
FRANCHISE FEE INCOME $33,180 $34.440 $35,700 $36,960 $36,220 $39.480 $40,740 $42,000 $43,260 $343,960
TOTAL INCOME TO CITY $94,800 $98,400 $102,000 $105,600 $109,200 $112,800 $116,400 $120,000 $123,600 $962,800
U:\Docs\Financial-Other\SOLlDWASTEPROFORMA
Solidwaste - Sheet C
.'
Solid Waste Fund
Variance Analysis
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year9 Total
Proforma
Rate $11.65 $11.84 $12.03 $12.23 $12.43 $12.64 $12.85 $13.08 $13.29
Accounts 7,900 8,200 8,500 8,800 9,100 9,400 9,700 10,000 10,300
1,104,420 1,165,056 1,227,060 1,291,488 1,357,356 1,425,792 1,495,740 1,569,600 1,642,644 12,279,156
Actual Projected Projected
Rate $11.65 $11.65 $11.65 $11.65 $11.62 $11.62 $11.71 $11.94 $12.23
Accounts 8,587 8,268 8,562 8,314 9,733 9,438 9,793 10,000 10,126
1,200,463 1,155,866 1,196,968 1,162,297 1,357,170 1,316,035 1,376,112 1,432,800 1,486,092 11,683,802
Variance
Rate $0.00 $0.19 $0.38 $0.58 $0.81 $1.02 $1.14 $1.14 $1.06
Accounts 687 68 62 (486) 633 38 93 0 (174)
IEXPENSE:'V.AR1i'A'''Q~_
Dollar Impact of Rate Variance
Rate Variance x 12 $0.00 $2.28 $4.56 $6.96 $9.72 $12.24 $13.68 $13.68 $12.72
Proforma Accounts 7,900 8,200 8,500 8,800 9,100 9,400 9,700 10,000 10,300
0 18,696 38,760 61,248 88,452 115,056 132,696 136,800 131,016 722,724
Dollar Impact of Account Variance
Account Variance 687 68 62 (486) 633 38 93 0 (174)
Actual Rate x 12 $139.80 $139.80 $139.80 $139.80 $139.44 $139.44 $140.52 $143.28 $146.76 less:
96,043 9,506 8,668 (67,943) 88,266 5,299 13,068 0 (25,536) 127,370
595,354
112,500 Bonus
18,000 Survey
72pI8511j
IREVENUEVARIANCE:..~
Account Variance 687 68 62 (486) 633 38 93 0 (174) 921
Revenue Rate $13.68 $13.68 $13.68 $13.68 $13.68 $13.68 $13.68 $13.68 $13.68
Variance 112,778 11,163 10,178 (79,782) 103,913 6,238 15,267 0 (28,564) L-1$.1iliiJ
(96.043)
(96,043)
9,190
30,092 129,191
186 109,757
119,628 136,800 156,552
595,354
9,190
30,092 129,191
186 109,757
119,628 136,800 156,552
595,354
U:\Oocs \Financial-Other\SOLI OW ASTEPROFORMA