|Gustavus' fiscal year runs from July 1 to June 30. The city's FY14 budget was adopted June 13, 2013, and is segmented into department budgets including administration, DRC, beach, GCN, GVFD, lands committee, library, marine facilities, planning, road maintenance, and septage. Specific revenues and expenditures are projected within each category, but are not compared to previous years' actuals.
Both the Gustavus Community Network (GCN) and the Gustavus Solid Waste Disposal and Recycling Center (GDRC) are accounted for independently. Both budgets adequately illustrate revenues and expenses for each utility service and have revenue projections equal to expenditures after a general fund transfer is applied.
The Gustavus Code of Ordinances requires that the treasurer provide a balance sheet, as well as a profit and loss budget overview, to the city council each quarter. The city clerk, acting as the treasurer, follows this guideline by submitting an accrual-based budget vs. actual profit and loss statement and a detailed profit and loss statement to the utility advisory committees at their quarterly workshops.
The city is not currently providing back-up documentation. Therefore, it is not possible to confirm the above indicators at this time. However, the clerk has previously confirmed that the city is up-to-date with its payments to the Gustavus Electric Company. While approximately 90% of Gustavus' energy needs are met by its hydroelectric facilities, the community also has a privately-owned and operated bulk fuel facility. That facility is comprised of gasoline, aviation fuel, #1 diesel, and #2 diesel storage tanks. The city has adequate funds available and purchases fuel as needed from its vendor, Gustavus Dray. The city reports that the Gustavus Dray fuel facility consistently meets the fuel capacity needs of the community. Dray reported during the last Fuel Watch that they were able to keep up with all fo the fuel needs of the community, obtaining fuel by barge when needed.
The community offsets the cost of providing internet and solid waste disposal services by charging user fees. Utility user fee revenues account for 100% of the internet enterprise and approximately 59% of the solid waste disposal utility budget. The governing body has elected to subsidize the solid waste utility with an annual appropriation. The last financial reports that were received showed that the city had sufficient general fund revenues to sustain the solid waste utility and that the subsidy is sufficient to cover operating expenses and repair and replacement costs. The city has also established a reserve fund for the Gustavus Community Network and a landfill closure fund for closing and opening new cells at the solid waste disposal and recycling center.|