Tompkins County
New York

Report or Discussion Item
7146

Financial Update

Information

Department:Recycling and Materials Management DepartmentSponsors:
Category:Solid Waste and Recycling Center

Attachments

  1. Printout

Meeting History

Jul 11, 2017 3:00 PM  Facilities and Infrastructure Committee Regular Meeting

Ms. Eckstrom stated this was a follow-up from last month's meeting regarding the financial status of the Recycling and Materials Management Department. She said the Department has completed its budget for 2018 and the current fees will remain stable for 2018. An additional fee will be added due to building a tipping area for food scraps. She spoke of the current expenses being $6.2 million and the revenues will be $5.9 million, which means there will be a need to discuss the use of the fund balance.

The current fund balance is $2.1 and the plan includes the establishment of a construction reserve fund for construction costs for the next three years for the Recycling Center that will deduct $400,000 from fund balance. The fund balance will also be used to balance the budget and the estimated amount is $300,000. The anticipated fund balance next year will be $1.4 million and is projected to level out in 2021 and the rate should remain stable.

RESULT:COMPLETED