Statement of Revenues, Expenses and Changes in Fund Net Position - Proprietary Funds

Summary of Business-Type Activities

Revenue Sources – charges for services reflect an increase of $2.3 million or 10.42% from the prior fiscal year. The main revenue growth was Golf revenue due to the strong economic recovery. Variances are as follows:

1. Water revenues - total operating revenues increase of 743 thousand or 4.10% from the prior year. The city has not increased the water rates. Increase due to more water consumption from City’s water customers.

2. Sewer revenues – total operating revenues increase by $21 thousand or 1.42% from the prior year.

3. Golf revenues - the overall revenue increase by $1.5 million over prior year. The principal reason for the revenue increase over prior year is the Golf Course mandated closure in

March and April 2020 due to COVID 19 health crisis. The Golf Course has been open for the entire Fiscal Year and the strong economic recovery has assisted with this recreational activity involvement. Furthermore, golf is an outside sport and there are less COVID -19 restrictions than sports centers or gyms. Consequently, residents favored golf over an inside sport or gym.

Program Expenses – the program expenses for enterprises funds have a net decrease of $5.7 million or an decrease of 26.43% over the prior year. From this amount, water activities ended with a decrease of $4.0 million and Sewer had a decrease of 1.9 million.

The decrease in expenditures in Water and Sewer fund is due to the fluctuation in pension liability. In FY20-21 net pension share in Water and Sewer fund decreased because most CalPERS expenses

BUSINESS-TYPE ACTIVITIES -REVENUE BY SOURCE

Other, $493 , 2%

Use of money & property,137 1%

Charges for Services,$24,619 98% Water, $18,875, 75%

Golf, $4,247, 17%

Sewer & Storm Drain, $1,497, 6%