|This quarter, RUBA staff received updated financial reports which had been presented to the city council. The community is fully on track with their FY 12 projected budget.
This community has very stable employees and a strong and involved city council.
The water utility in McGrath has operated in the black - without supplementation from other funding sources - through FY 10 and FY 11. The FY 12 budget is realistic, and will also likely generate revenue through the water utility. McGrath operates on a well designed rate formula, in which all customers pay a base rate for water, with additional usage charged. The water utility expenses are comprehensive, and include categories for repair and maintenance. Electricity and fuel comprise substantial budget categories, but are adequately funded through water revenue.
Sewer, landfill, and washeteria budgets reflect expense categories which exceed income. This is compensated through profit from the water utility and general city monies. The city of McGrath operates overall with a surplus, which is held in cash and investment accounts.|