Grand Chute is required to have yearly financial audits. Schenck performed last year’s town audit. There were a few changes last year based on the recommendations from Schenck in 2009. The recommendations were to change the sanitary districts into enterprise funds and separate them from the overall budget. This is due to the charges for services (water bill and sewer bill).
This pays the expenses on the water treatment plant and the city of
Appleton for water the town purchases. Separating them gives the town a
better and more isolated grasp on each district .
The town’s general fund decreased from 3,394,427 to 3,271,947 during 2009. At
December 31, 2009, the town's under-designated general fund totaled 1,502,271.
This balance represents approximately 12.3% of the total 2010 budgeted general
fund expenditures. This indicates the general fund is in excellent financial
position as we enter the 2010 fiscal year.
As of December 31, 2009 the town has available financial resources of $7,103,624
with the towns debt service balance totaling 100,914 and a 5,097,297 capitol
project fund totaling 15,659,326 December 31, 2009
The town's water utility district 1 reported a net loss of $763,232 in 2009
compared to a net loss of 442,599 for 2008 this is a direct result of the
increased price in purchased water from the city of Appleton. The district has
applied for a rate increase and was received to take effect towards the end of
the year 2009. As a town resident, you have already seen the increase this
year. It should also be noted the city is expected to continue to raise their
rates to balance off their districts. This will result in the town having to do
the same, to cover the increase. Currently the operating revenue is $3,942,731 in
sanitary district 1 $2,663,601 in sanitary district 2 $1,356,850 in sanitary
district 3 and $24,863 in the east side district. Only Districts 1 and east side
were operating in the red.
Again, the town is in excellent financial position and continues to operate with
one of the top Moody rating of aa2 (highest town rating in the valley). If you
have questions the entire audit can be found at the town hall.
