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Utility Financial Overview
Town of Wadena
Water and Sewer Utility System
Annual Financial Overview 2017
According to the Town’s audited 2017 financial statements, the total revenue generated for the water and sewer utility system was $564,993. The expenses totaled $445,445.
Revenue:`
Water Charges $373,705
Sewer Charges 184,235
Other Revenue 6,636
Custom Work / Supplies 417
$564,993
Expenses:
Wages, Benefits $160,023
Contractual Services 55,196
Utilities 56,991
Maintenance, Materials, Supplies 56,668
Amortization 10,034
Capital Works 98,839
Other 7,694
$445,445
Surplus (Deficit) $119,548
Using these figures, the comparison ratio of revenue to expenses equals $564,993/ $445,445 or a ratio of 1.27
Reserve Account
The amount that has been set aside as of Dec 31, 2017 in a reserve account to be used to provide for water and sewer system capital infrastructure is $769,723. Surplus from the water and sewer revenues may be transferred to reserves on an annual basis for water and sewer infrastructure repairs, replacement and upgrades.
Public Information
A copy of the following documents may be requested at the Town Office during regular business hours and may be available online:
● Annual Notice to Consumers
● Waterworks Capital Investment Strategy
● Waterworks Rate Policy
● Utility System Annual Financial Overview
● Waterworks System Assessment