Broken Arrow Municipal Authority
Meeting of: 09/03/2019
Title:
title
Presentation and acknowledgement of Financial Statements for the 4th quarter of Fiscal Year 2019 for the Broken Arrow Municipal Authority
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Background:
It is beneficial for the City Council to review the financial status of the City on a regular basis. This presentation represents the year in review FY 19 for BAMA
BAMA:
BAMA total revenue for the year was $48,627,467. Water sales were budgeted for $21,214,200 which represented the 3rd year of the rate study that was completed in April 2017. Unfortunately water revenue was down just over a million dollars due to the wet spring. Water sales very hard to estimate since the environment conditions plan such a great roll. Expenditures (minus OWRB loan projects) were $37,359,785 and debt service was $10,541,432 leaving a net income of $726,250.
Cost: $0
Funding Source: N/A
Requested By: Cynthia S. Arnold, Finance Director
Approved By: City Manager’s Office
Attachments: BAMA Financial Statement
Recommendation:
recommend
Acknowledge Financial Report for period ending June 30, 2019
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