HomeMy WebLinkAboutItem 04.dDebt Issuance
SANITARY SEWER UTILITY RATE ANALYSIS
2
Sanitary Sewer rate increase
2014 10.50% 6.35%
2015 10.50% 6.35%
2016 10.50% 6.35%
2017 0.00% 6.00%
2018 0.00% 2.90%
3
2.90%
2.90%
2.90%
2.90%
2.90%
4
2.90%
2.90%
2.90%
2.90%
2.90%
2014 675,000 675,000 675,000 675,000 675,000
2015 422,000
2016 1,052,000 1,052,000 1,287,000 1,052,000 1,052,000
2017
2018
Cash Balance
2014 2,285,735 2,776,891 2,901,285 2,901,285 2,772,816 2,905,715
2015 2,590,914 2,575,128 2,374,780 2,777,740 2,417,790 2,417,790
2016 2,458,446 2,717,577 1,995,299 2,587,469 2,705,758 2,705,758
2017 3,271,762 2,906,586 1,459,245 2,026,221 2,863,313 2,863,313
2018 3,947,831 3,123,556 911,407 1,453,004 2,939,369 2,939,369
2023 3,397,330 4,021,884 (2,565,930) (1,901,190) 3,719,854 3,719,854
Cash Balance - Excess of Minimum
2014 _ , 438,338 562,732 543,693 434,263 567,162
2015 277,698 157,338 (43,011) 311,218
2016 31,767 11,819 (710,459) (147,806)
2017 687,529 43,274 (1,404,068) (866,609)
2018 1,241,582 184,187 (2,027,962) (1,463,357)
2023 (50,535) 302,029 (6,285,784) (5,598,037)
5
0.00%
9.71%
12.55%
2.72%
1.12%
6
3.00%
3.63%
15.68%
2.72%
1.12%
Debt Coverage
2014
2015 5.3 2.2 1.9 3.9 2.6
2016 6.8 1.8 1.3 8.2 8.2
2017 3.1 0.5 0.5 3.0 3.0
2018 3.1 0.3 0.3 2.6 2.6
2023 2.3 -1.0 -1.1 2.4 2.4
Sanitary Sewer Rates - 2014
Base fee $ 6.65 $ 6.43 $ 6.43 $ 6.25 $ 6.44
Usage $ 3.29 $ 3.18 $ 3.18 $ 3.09 $ 3.18
Sanitary Sewer Rates - 2014 (increase over 2013)
Base fee $ 0.66 $ 0.40 $ 0.18 $ 0.18 $
Usage $ 0.32 $ 0.20 $ 0.09 $ 0.09 $
-
$ 0.19
- $ 0.09
Examples - Utility Bills
Residential - 18 thousand gallons
Sewer 68.2_: $ 65.87 $ 63.67 $ 63.67 $ 61.87 $ 63.68
Other 36.50 36.50 36.50 36.50 36.50 36.50
Total $ 104.79 $ 102.37 $ 100.17 $ 100.17 $ 98.37 $ 100.18
Increase
Sewer 6.42 4.00 1.80 1.80 0.00 1.81
Other 1.21 1.21 1.21 1.21 1.21 1.21
Total $ 7.63 $ 5.21 $ 3.01 $ 3.01 $ 1.21 $ 3.02
Residential - 10 thousand gallons - Senior Citizen
Sewer .$ 30.78 $ 29.68 $ 28.69 $ 28.69 $ 27.88 $ 28.70
Other 24.26 24.26 24.26 24.26 24.26 24.26
Total $ 55.04 $ 53.94 $ 52.95 $ 52.95 $ 52.14 $ 52.96
Increase
Sewer 2.90 1.80 0.81 0.81 0.00 0.82
Other 0.66 0.66 0.66 0.66 0.66 0.66
Total $ 3.56 $ 2.46 $ 1.47 $ 1.47 $ 0.66 $ 1.48
Commercial - 45 thousand gallons (does not include Street lights or Surface Water)
Sewer 160.36 $ 154.70 $ 149.53 $ 149.53 $ 145.30 $ 149.54
Other 56.82 56.82 56.82 56.82 56.82 56.82
Total $ 217.18 $ 211.52 $ 206.35 $ 206.35 $ 202.12 $ 206.36
Increase
Sewer 15.06 9.40 4.23 4.23 (0.00) 4.24
Other 2.41 2.41 2.41 2.41 2.41 2.41
Total $ 17.47 $ 11.81 $ 6.64 $ 6.64 $ 2.41 $ 6.65
Commercial - 135 thousand gallons (does not include Street lights or Surface Water)
Sewer $ 467.26 $ 450.80 $ 435.73 $ 435.73 $ 423.40 $ 435.74
Other 191.80 191.80 191.80 191.80 191.80 191.80
Total $ 659.06 $ 642.60 $ 627.53 $ 627.53 $ 615.20 $ 627.54
Increase
Sewer 49.65 33.19 18.12 18.12 5.79 18.13
Other 2.41 2.41 2.41 2.41 2.41 2.41
Total $ 52.06 $ 35.60 $ 20.53 $ 20.53 $ 8.20 $ 20.54
MEMORANDUM
TO: Dennis Feller, City of Lakeville
FROM: Nick Dragisich, Springsted
DATE: November 25, 2013
SUBJECT: Revised Water and Sewer Fund Analysis
Recent Performance
Assumptions
Springsted Incorporated
380 Jackson Street, Suite 300
Saint Paul, MN 55101 -2887
Springsted Tel: 651- 223 -3000
Fax: 651 - 223 -3002
www.springsted.com
Earlier this year, the City of Lakeville engaged Springsted to conduct an analysis and review of the financial
performance of the City's Water and Sewer Funds, and to recommend rate adjustments necessary for each Fund to
maintain revenues sufficient to meet operating costs, capital outlays and maintenance, debt service coverage, and
cash reserves. We presented our findings and recommendations in a memorandum dated November 8, 2013 and
discussed these at a City Council workshop on November 19, 2013. The City subsequently requested we evaluate
some additional scenarios for the Sewer Fund. These additional scenarios include Scenario Three, Scenario Four,
Scenario Five, and Scenario Six. This memorandum presents our initial findings and recommendations along with
the additional scenarios we evaluated.
Our analysis began with a look at each Fund's recent financial performance, paying particular attention to income
levels and cash reserves. In the water fund income and net income have been consistently negative since 2009.
Cash accumulated to a level of approximately $5.9 million in 2009 as a result of high consumption due to prevailing
weather conditions. Balances have decreased in the ensuing years to approximately $3.2 million at the end of 2013
as result of investment in water main replacements and major maintenance projects.
In the Sewer Fund, operating and net income have also been consistently negative, though cash levels have been
more stable, varying in the range of $2.7 million to $2.8 million between 2009 and 2012. Cash levels are projected to
decline slightly to $2.6 million at the end of 2013.
In our projections of future performance, we used a number of assumption based on discussions with the City,
coupled with our professional experience. For the Water Fund, these assumptions included:
• New residential accounts and Tier 1 consumption would grow at 2% annually.
• Tier 2 and 3 consumption would grow 1% annually.
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 2
• Commercial accounts and consumption would grow at 1% annually.
• Miscellaneous revenues would increase by 0.25% each year.
• Personnel costs would increase 2.3% per year.
• Commodities costs would rise by 3% annually.
• Contractual services costs would rise by 2% per year.
• Cash balances in the Fund would earn 0.73% each year.
For our Sewer Fund projections, our assumptions were as follows:
• Accounts and usage would grow as per Water.
• Personnel and contractual service costs would increase consistent with Water.
• Commodities costs for Sewer would grow at 5% annually.
• Charges from MCES would increase 6.8% per year.
• Interest earnings of 0.73% on fund balances.
For each Fund, we assumed that capital expenditures would be made consistent with the City's capital improvement
plan. Capital spending from each Fund fluctuates from year to year, as can be seen in the chart below. In general
terms, over the course of the planning period, the Water Fund averages $2.1 million in annual capital outlays, and the
Sewer Fund averages $578,000 per year. A detailed list of capital projects and costs for both Funds is attached as
part of this memorandum.
Baseline Projection
54,000
R
$3,000
52,000
51,000
$0
Annual Capital Spending
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
• Sewer • Water
Using recent performance and current budgets as a baseline, we projected the financial performance of each Fund
assuming that rates remained unchanged. Without rate adjustments, both Funds would run out of cash resources
between 2017 and 2021. For this reason, rate increases in future years will be required. The extent of these rate
increases is based on the amount of revenue needed by each Fund to cover its operating and maintenance costs,
Year
Water
Sewer
2014
7.50%
10.50%
2015
7.50%
10.50%
2016
7.50%
10.50%
2017
7.25%
0.00%
2018
7.25%
0.00%
2019
7.25%
0.00%
2020
7.25%
0.00%
Year
Water
Sewer
2014
$ 1,700,000
$ -
2015
$ 2,261,794
$ -
2016
$ -
$ -
2017
$ 1,240,547
$ -
2018
$ 1,000,000
$ -
Total
$ 6,202,341
$ -
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 3
capital improvement and replacement costs, and debt service costs for any debt issued to finance capital
improvements, while maintaining an adequate level of cash reserves.
With the understanding that rate increases would be necessary, we looked at the magnitude and timing of rate
increases that would be required for each of the Funds. Initially, we modeled the financial performance of the Funds
if each paid for its capital improvements out of cash reserves. This would require 42.6% increase in water rates in
2014 and 2015. These increases, which would be necessary to keep the Water Fund solvent in those years, would
also resulted in large cash surpluses in future years. In the Sewer Fund this would require 10.5% rate increases in
2014 through 2016. In order to smooth out the cash flows in the Water Fund, some capital expenditure will need to
be financed by long -term borrowing. We looked at two basic scenarios for the Funds: one with minimal debt
financing, and one with more significant borrowing.
Scenario One
In our first scenario, we tried to keep debt financing of capital projects to a bare minimum in each Fund. For the
Water Fund, we required borrowing in four years, for a total of $6.2 million in debt financing. For the Sewer Fund, we
projected no borrowing at all. The timing and amount of debt is as follows:
In order to cover operating and capital expenses, while maintaining sufficient cash reserves, we project the following
rate increases would be required for each Fund:
For the Water Fund, annual rate increases of 7.5% through 2016, and 7.25% from 2017 through 2020, will allow the
Fund to maintain its minimum recommended cash reserves throughout the course of the planning period.
Additionally, these increases will return the Fund to positive net income by 2020. Projected cash balances in the
Water Fund are shown in the chart below.
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 4
$4,000
5
83,000
$2,000
81,000
$0
Projected Cash Balance - Water
ano Cash Balance — Minimum Reserve
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
For the Sewer Fund, the rate increases are steeper, but fewer in number. Increases of 10.5% in 2014, 2015, and
2016 are required to keep the Sewer Fund from falling below the minimum recommended cash reserve. These rate
increases are driven in large part by the anticipated 6.8% annual increases in the Metropolitan Council Environmental
Services ( M.C.E.S.) Charges. The combination of these rate increases is sufficient to bring the Fund into positive net
income in 2016, but it falls back into negative net income immediately thereafter, as flat rates after 2017 are not
enough to keep up with expected increase in M.C.E.S charges in addition to inflation in other operating costs. Cash
reserves are maintained in the medium term due to the fact that depreciation is accounted for as an operating
expense, but this expense is not reflected in cash balances. The projected cash balances in the Sewer Fund are
shown in the chart below.
85,000
$4,500
0
$4,000
$3,500
83,000
$2,500
82,000
81,500
$1,000
$500
Projected Cash Balance - Sewer
nip
Eno Cash Balance — Minimum Reserve
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
In terms of quarterly bills, the effect of the increases on water and sewer rates would cause the utility bill for an
average residential customer to rise from its current level of $82.36 per quarter to a level of $108.55 per quarter in
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 5
2016. From there, the average bill would continue to rise until it reached $116.13 in 2020, at which point it would level
off. Quarterly bills for other customers would rise similarly. Sample bills for a variety of users are attached as part of
this memo.
5140.00
$120.00
5100.00
$80.00
560.00
540.00
520.00
Residential - 18,000 gallons
5-
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
• Water - Base • Water - Volume Water - Testing Fee • Sewer - Base Sewer - Volume
A comparison of Lakeville's water rates to those of neighboring communities shows that Lakeville's rates are
significantly lower than its peers at present; projected rate increases would close the gap to some extent, though
projections anticipate Lakeville's rates would still be the lowest of the comparison group. Our projections assume
that other communities will raise water rates by 3% annually. These are shown in the chart below.
$70.00
$60.00
550.00
540.00
$30.00
$20.00
$10.00
$-
Quarterly Bills - Residential Water
1. ti
- Apple Valley
- Bloomington
- Burnsville
- Eagan
▪ - Farmington
- Inver Grove Heights
Lakeville
--- Rosemount
Year
Water
Sewer
2014
$ 4,210,981
$ 675,000
2016
$ 4,122,039
$ 1,052,000
2019
$ 4,500,000
$ -
2022
$ 3,000,000
$ 500,000
Total
$ 15,833,020
$ 2,227,000
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 6
Sewer rates for Lakeville are currently close to the average of its peer cities; rate increases would put Lakeville
higher than these other communities, though they would catch up in later years, when Lakeville's rates are projected
to remain flat. For purposes of our projections, we assume that sewer rates in neighboring communities will rise by
5 %; this is higher than our projected water rate increases, due to anticipated annual increases in M.C.E.S. charges
all communities will incur. These are shown in the chart below.
Scenario Two
$100.00
$90.00
$80.00
$70.00
$60.00
$50.00
$40.00
Quarterly Bills - Residential Sewer
, '
- Apple Valley
- Bloomington
- Burnsville
- Eagan
- Farmington
-Inver Grove Heights
-- Lakeville
- Rosemount
In our second scenario, we projected additional debt financing of capital projects in order to minimize rate increases
while maintaining sufficient cash levels in each Fund. This enables the Funds to remain on schedule with their
capital improvement programs.
Under this scenario, we projected four series of debt financing, with the first in 2014 and the last in 2022. The debt
issued would total $15.8 million for the Water Fund and $2.2 million for the Sewer Fund. The specific years and
amounts are shown in the following table:
Year
Water
Sewer
2014
4.25%
6.35%
2015
4.25%
6.35%
2016
4.25%
6.35%
2017
4.25%
6.00%
2018
4.25%
2.90%
2019
4.25%
2.90%
2020
4.25%
2.90%
2021
4.25%
2.90%
2022
4.25%
2.50%
2023
4.25%
2.50%
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 7
In order to cover operating and capital expenses, while maintaining sufficient cash reserves, we project the following
rate increases would be required for each Fund:
The Water Fund recommended annual rate increases of 4.25% are required to maintain minimum recommended
levels of cash reserves. These increases are projected to reduce the deficit in the Fund's net income from
approximately ($1.2 million) in 2014 to approximately ($34,284) in 2023. Projected cash reserves for the Water Fund
are shown in the chart below.
57,000
C
56,000
55,000
54,000
53,000
52,000
51,000
50
Cash Balance - Water
rim _
1
111111111
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
msCash Balance — Minimum Reserve
We have recommended sanitary sewer rate increases of 6.35% required in 2014, 2015, and 2016, followed by a
6.0% increase in 2017. For the years 2018 -2021, our projected rate increases are 2.9 %, falling to 2.5% thereafter.
These recommended rate increases, like those recommended for the Water Fund, are required to maintain minimum
recommended levels of cash reserves. Projected cash reserves for the Sewer Fund are shown in the chart below.
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 8
54,500
o' 54,000
$3 ,500
53,000
52,500
52,000
51,500
51,000
5500
50
Cash Balance - Sewer
1
ilili ��� 1
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
imCash Balance — Minimum Reserve
Under this scenario, the average quarterly water and sewer bill for a residential customer would rise steadily from its
current level of $82.36 per quarter to a level of $119.73 per quarter in 2022 as shown in the chart below.
5140.00
5120.00
$100.00
580.00
560.00
540.00
520.00
Residential - 18,000 gallons
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
• Water - Base • Water - Volume k Water - Testing Fee • Sewer - Base s Sewer - Volume
The average quarterly water and sewer bill in 2016 under this scenario would be $97.42, as compared to $108.55 in
the earlier scenario.
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 9
Comparing Lakeville's rates to those of surrounding communities under this scenario, we see that water rates remain
well below those of the other cities. Sewer rates are projected to rise to a level approximately equal to those of Inver
Grove Heights, which is currently the highest of the group. These are shown in the charts below. As before, we
assume for the purposes of our projections that other cities will raise water rates at 3% annually, and sewer rates at
5 %.
$70.00
560.00
550.00
540.00
530.00
$20.00
$10.00
Quarterly Bill - Residential Water
2013 2014 201.5 2016 2017 2018 2019 2020 2021 2022
—Apple Valley
— Bloomington
— Burnsville
— Eagan
— Farmington
—Inver Grove Heights
- - Lakeville
-- Rosemount
5120.00
5110.00
5100.00
$90.00
580.00
$70.00
560.00
$50.00
540.00
Quarterly Bill - Residential Sewer
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
—Ap ple Valley
— Bloomington
— Burnsville
—Eagan
— Farmington
— Inver Grove Heights
- - Lakeville
— Rosemount
Cash Balance - Sewer
,,, $5,000
-o
C
tC
7
t $4,000
i–
$3,000
$2,000
$1,000
$0
- $1,000
- $2,000
2014 2015 2016 2017 2018 2019 ■ ,
- $3,000
mo Cash Balance — Minimum Reserve
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 10
Scenario Three
In our third scenario, we projected increases in the Sewer Fund at 2.90% each year. This scenario assumes the
same capital improvements and debt financing as in Scenario Two. Cash balances in the Sewer Fund are projected
to fall below the minimum recommended amounts beginning in 2015 and throughout the remaining years of the
planning period. The Fund is projected to run out of cash in 2020 due to the insufficient rate increases as shown in
the chart below. In addition, the debt service coverage ratio is projected to drop below 1.0 in 2017 and to go negative
in 2020.
Under this scenario, the average quarterly water and sewer bill for a residential customer would rise from its current
level of $82.36 per quarter to a level of $109.10 per quarter in 2022 as shown in the chart below. This is $10.63 less
than the Scenario Two projected quarterly bill of $119.73. However, Scenario Two meets the minimum reserve
requirements in each year.
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 11
5120.00
5100.00
580.00
560.
540.00
S20.00
$ -
Residential - 18,000 gallons
• Water - Base • Water - Volume • Water - Testing Fee • Sewer - Base Sewer - Volume
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Comparing Lakeville's sewer rates to those of surrounding communities under this scenario, shows that while sewer
rates are projected to rise, they will rise more slowly than those of the surrounding communities. They are projected
to be the lowest of the group in 2022. These are shown in the chart below. As in Scenario Two, we assume for the
purposes of our projections that other cities will raise their sewer rates at 5% annually.
$120.00
5110.00
$10 0.00
$90.00
580.00
$70.00
560.00
550.00
540.00
Quarterly Bill - Residential Sewer
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
—Apple Valley
— Bloomington
— Burnsville
— Eagan
— Farmington
— Inver Grove Heights
-- Lakeville
--- Rosemount
Cash Balance - Sewer
y 54,000
e
0
i _ 53,000
52,000
$1,000
50
- 51,000
- 52,000
53,000
Sewer
Scenario Four
2014
$ 675,000
•
2015
$ -
$ 422,000
2016
2014 2015 2016 2017 2018 2019 2020
$ 1,287,000
2019
-
Cash Balance — Minimum Reserve
Year
Sewer
Scenario Two
Sewer
Scenario Four
2014
$ 675,000
$ 675,000
2015
$ -
$ 422,000
2016
$ 1,052,000
$ 1,287,000
2019
$ -
$ -
2022
$ 500,000
$ 500,000
Total
$2,227,000
$ 2,884,000
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 12
Scenario Four
In our fourth scenario, we projected increases in the Sewer Fund at 2.90% each year the same as in Scenario Three.
This scenario also assumes the same capital improvements in Scenario Two and Scenario Three; however, it
increases the amount and number of bonds issued to finance capital improvements in an effort to improve the cash
reserves.
Under this scenario, we projected four series of debt financing for the Sewer Fund, with the first in 2014 and the last
in 2022. The debt issued would total $2.88 million as compared to $2.23 million in Scenario Two. A comparison of
the debt under each scenario is shown in the table below:
Cash balances in the Sewer Fund are projected to fall below the minimum recommended amounts beginning in 2016
and throughout the remaining years of the planning period. The Fund is projected to run out of cash in 2020 due to
the insufficient rate increases as shown in the chart below. In addition, the debt service coverage ratio is projected to
drop below 1.0 in 2017 and to go negative in 2020.
Year
Sewer
Scenario Two
Projected Rate
Increases
Sewer
Scenario Five
Projected Rate
Increases
2014
6.35%
0.00%
2015
6.35%
9.706%
2016
6.35%
12.553%
2017
6.00%
2.716%
2018
2.90%
1.117%
2019
2.90%
2.480%
2020
2.90%
8.951%
2021
2.90%
0.00%
2022
2.90%
0.00%
2023
2.50%
5.034%
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 13
The average quarterly water and sewer bill for a residential customer would rise from its current level of $82.36 per
quarter to a level of $109.10 per quarter in 2022 as in Scenario Three since the projected rate increases are the
same. As in Scenario Three, this is $10.63 less than the Scenario Two projected quarterly bill of $119.73. However,
Scenario Two meets the minimum reserve requirements in each year.
Lakeville's sewer rates under this scenario compared to surrounding communities are also the same as in Scenario
Three. They will rise more slowly than those of the surrounding communities and are projected to be the lowest of
the group in 2022. As in Scenario Two, we assume for the purposes of our projections that other cities will raise their
sewer rates at 5% annually.
Scenario Five
Scenario Five projects increases in the Sewer Fund each year at a rate the enables the Fund to meet the
recommended minimum reserve requirements. This results in projected rate increases that vary erratically from 0%
in some years to 12.553% in one year as shown in the table below. This scenario assumes the same capital
improvements and debt financing as in Scenario Two.
The chart on the following page shows these projected rate increases each year. Our experience is that utility
customers do not like erratic utility rate increases as they are difficult to plan for and accommodate particularly for
large utility customers.
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 14
14.000%
12.000%
10.000%
8.000%
6.000%
4.000%
2.000%
0.000%
Comparison of Projected Rate Increases
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
-dm-SEWER UTILITY PROJECTIONS - SCENARIO FIVE
(SEWER UTILITY PROJECTIONS - SCENARIO TWO
Cash balances in the Sewer Fund are projected to be at or above the minimum recommended amounts over the
planning period as shown in the chart below. Debt service coverage ratio is projected to be above 2.0 in each year.
$4,000
r 53,500
F
53,000
52,500
52,000
51,500
51,000
5500
50
Cash Balance - Sewer
;;;,Ill y 11111111
11111111
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
ow Cash Balance — Minimum Reserve
The average quarterly water and sewer bill for a residential customer would rise from its current level of $82.36 per
quarter to a level of $117.67 per quarter in 2022. This is $2.06 less than the Scenario Two projected quarterly bill of
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 15
$119.73. Lakeville's sewer rates under this scenario will rise and fall based on each year's rate increase compared
to those of the surrounding communities and are projected to be the in the middle of the group in 2022. As in
Scenario Two, we assume for the purposes of our projections that other cities will raise their sewer rates at 5%
annually.
Scenario Six
S120.00
S110.00
5100.00
S90.00
580.00
570.00
560.00
550.00
540.00
Quarterly Bill - Residential Sewer
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
—Apple Valley
— Bloomington
- Burnsville
—Eagan
-- Farmington
— Inver Grove Heights
- - Lakeville
-- Rosemount
Scenario Six projects a 3% rate increase in the Sewer Fund for 2014 then projects future rate increases each year at
a rate the enables the Fund to meet the recommended minimum reserve requirements. Like Scenario Five, this
results in projected rate increases that vary erratically from 0% in some years to 15.683% in one year as shown in
the table on the following page. This scenario assumes the same capital improvements and debt financing as in
Scenario Two.
Year
Sewer
Scenario Two
Projected Rate
Increases
Sewer
Scenario Six
Projected Rate
Increases
2014
6.35%
3.00%
2015
6.35%
3.630%
2016
6.35%
15.683%
2017
6.00%
2.716%
2018
2.90%
1.117%
2019
2.90%
2.480%
2020
2.90%
8.951%
2021
2.90%
0.00%
2022
2.90%
0.00%
2023
2.50%
5.034%
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 16
The chart on the following page shows these projected rate increases each year. Again, our experience is that utility
customers do not like erratic utility rate increases as they are difficult to plan for and accommodate particularly for
large utility customers.
18.000%
16.000%
14.000%
12.000
10.000
8.000%
. 6.000%
4.000%
2.000%
0.000
•
i
Comparison of Rate Increases
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
tSEW ER UTILITY PROJECTIONS - SCENARIO SIX
•SEWER UTILITY PROJECTIONS - SCENARIO TWO
Cash balances in the Sewer Fund are projected to be at or above the minimum recommended amounts over the
planning period as shown in the chart below. Debt service coverage ratio is projected to be above 2.0 in each year.
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 17
54,000
2 $3,500
$3,000
$2,500
52,000
$1,500
$1,000
$500
50
Cash Balance - Sewer
• i
111
2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
awl Cash Balance — Minimum Reserve
The average quarterly water and sewer bill for a residential customer would rise from its current level of $82.36 per
quarter to a level of $117.67 per quarter in 2022 as in Scenario Five. This is $2.06 less than the Scenario Two
projected quarterly bill of $119.73. Lakeville's sewer rates under this scenario will rise and fall based on each year's
rate increase compared to those of the surrounding communities and are projected to be the in the middle of the
group in 2022. As in Scenario Two, we assume for the purposes of our projections that other cities will raise their
sewer rates at 5% annually.
$120.00
$110.00
5100.00
$90.00
$80.00
$70.00
$60.00
$50.00
$40.00
Quarterly Bill - Residential Sewer
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
— Apple Valley
— Bloomington
— Burnsville
— Eagan
— Farmington
— Inver Grove Heights
— — Lakeville
- --- Rosemount
Year
Water
Sewer
2014
4.25%
6.35%
2015
4.25%
6.35%
2016
4.25%
6.35%
2017
4.25%
6.00%
2018
4.25%
2.90%
2019
4.25%
2.90%
2020
4.25%
2.90%
2021
4.25%
2.90%
2022
4.25%
2.50%
2023
4.25%
2.50%
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 18
Recommendations
Our projected future financial performance of the Water and Sewer Funds incorporating anticipating increases in
operations and maintenance expenses and the City's capital improvement program shows that rate increases are
need in each fund. In our memorandum of November 8, 2013 we recommended rate increases in the Water and
Sewer Utility based on Scenario Two. These were recommended because they will provide sufficient revenues to
adequately fund water and sewer operations and capital costs and provide an adequate level of cash reserves while
minimizing the impact on rates to the greatest extent possible. Scenario Two recommended a balanced approach to
financing needed capital assets incorporating both debt and cash to minimize the rate increases needed. The
recommended rate increases for the Water Fund were 4.25% each year while those for the Sewer Utility were 6.35%
in 2014 through 2016, 6.00% in 2017 then declining to 2.90% in the period 2018 — 2021 and further declining to
2.50% in 2022 and 2023 as shown in the table below.
The additional Scenarios Three and Four we evaluated for the Sewer Fund showed that limiting rate increases to
Tess than 3% each year would cause the Sewer Fund to not meet recommended cash reserve levels and to actually
run out of cash. The additional Scenarios Five and Six we evaluated for the Sewer Fund would meet recommended
cash reserve levels each year, but result in very erratic rate increases that are, in our experience, problematic for
utility customers.
Of the scenarios evaluated, it is our opinion that Scenario Two provides the best altemative for the City and its utility
customers over the long -term.
These recommendations are based on information provided to us by the City of Lakeville. The City will need to
monitor the performance of the Water and Sewer Utilities and make any necessary adjustments based upon actual
performance and on the actual construction costs of the anticipated capital improvements.
We would also point out that we have not included a sensitivity analysis for projected capital improvement costs. A
sensitivity analysis would evaluate the utility rate impacts of actual construction improvements costs being more or
less than projected costs. However, it is important to recognize that the actual cost of capital improvements may be
greater than those projected which would impact projected rate increases. This difference can arise because the
capital improvement plan is generally developed based on preliminary information and current construction costs.
Costs can change as the projects get more clearly defined and construction costs at the time of the actual
construction vary from those at the time of planning.
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 19
Year Project
2013 Wen Rehab
2013 Water Meter Replacement
2013 WTF
2013 Equipment
2013 Water Main Replace - Clays Acres
2013 Total - Water
2014 Water Tower
2014 WTF
2014 Well Rehab
2014 Equipment
2014 Water Main Replacements
2014 Water Meter Replacement
2014 Total - Water
2015 Well Rehab
2015 Equipment
2015 Water Main Replacements
2015 Water Meter Replacement
2015 WTF
2015 Total - Water
2016 Equipment
2016 Tower and Reservoir Painting
2016 Well Rehab
2016 Water Meter Replacement
2016 Water Main Replacements
2016 Total - Water
2017 Tower and Reservoir Pairing
2017 Equipment
2017 Wen Rehab
2017 Water Meter Replacement
2017 Water Main Replacements
2017 Total - Water
2018 Equipment
2018 Wens
2018 Water Meter Replacement
2018 Water Main Replacements
2018 Total - Water
2019 Equipment
2019 Wens
2019 Water Meter Replacements
2019 Water Main Replacements
2019 Total - Water
Dept
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Water
Annual Capital Outlays - Water and Sewer
Cost
60,000
64,200
71,500
131,193
2,474,000
Year Project
2013 #18 Lift Station Rehab
2013 #22 Lift Station Rehab
2013 #3 Lift Station Rehab
2013 I &I Repairs
2013 Msc Equipment
2013 Sanitary Sewer Rehabilitation Proj 13 -02
2,800,893 2013 Total - Sewer
10,000
27,000
60,000
67,740
1,949,187
375,970
2,489,897
2015 #12 Lit Station Rehab
2015 #13 Lift Station Rehab
2015 #6 Lift Station Rehab
2015 I &I Repairs
2015 1/1 Improvements
2015 Misc Equipment
3,523,433 2015 Total - Sewer
60,000
118,549
2,261,794
422,090
661,000
27,107
45,000
60,000
190,907
1,186,934
1,509,948
40,000
86,777
120,000
199,330
1,440,547
1,886,654
2014 #11 Lift Station Rehab
2014 #19 Lift Station Rehab
2014 #5 Lift Station Rehab
2014 1/1 Improvements
2014 Msc Equipment
2014 Sanitary Sewer Rehabilitation Proj 14 -02
2014 Total - Sewer
2016 Equipment
2016 1/1 Improvements
2016 Lift Station Rehab
2016 Sewer Vactor
2016 Total - Sewer
2017 Equipment
2017 Grinders
2017 I/1 Improvements
2017 Lift Station Rehab
2017 Total - Sewer
86,342 2018 Equipment
165,000 2018 U1 Improvements
201,274 2018 Lift Station Rehab
1,494,558
1,947,174 2018 Total - Sewer
61,069 2019 Equipment
120,000 2019 I/1 Improvements
208,711 2019 Lid Station Rehab
1,500,000
1,889,780 2019 Total - Sewer
Dept Cost
Sewer 35,000
Sewer 15,000
Sewer 48,000
Sewer 50,000
Sewer 94,903
Sewer 128,300
371,203
Sewer 40,000
Sewer 35,000
Sewer 48,000
Sewer 177,000
Sewer 290,609
Sewer 175,000
765,609
Sewer 35,000
Sewer 35,000
Sewer 175,000
Sewer 77,000
Sewer 100,000
Sewer 118,549
540,549
Sewer 26,116
Sewer 100,000
Sewer 835,000
Sewer 440,000
1,401,116
Sewer 86,777
Sewer 60,000
Sewer 100,000
Sewer 35,000
Sewer
Sewer
Sewer
Sewer
Sewer
Sewer
281,777
86,342
100,000
50,000
236,342
61,069
100,000
15,000
176,069
City of Lakeville, MN
Water and Sewer Fund Analysis
Page 20
2020 Equipment
2020 Wells
2020 Water Meter Replacements
2020 Water Main Replacements
2020 Total - Water
2021 Equipment
2021 Welts
2021 Water Meter Replacements
2021 Water Main Replacements
2021 Total - Wate r
2022 Wells
2022 Equipment
2022 Water Meter Replacements
2022 Water Man Replacements
2022 Total - Water
2023 Equipment
2023 Wells
2023 Water Meter Replacements
2023 Water Main Replacements
2023 Total - Water
$4,000
c
R
v,
c
t
$3,000
$2,000
$1,000
$0
Annual Capital Outlays - Water and Sewer
Water 49,728
Water 120,000
Water 210,808
Water 1,500,000
1,880,536
2020 Equipment
2020 I/1 Improvements
2020 Lift Station Rehab
2020 Total - Sewer
Water 11,258 2021 Equipment
Water 120,000 2021 1/1lmprovements
Water 214,809
Water 1,500,000
1,846,067 2021 Total - Sewer
Water 60,000 2022 Equipment
Water 179,600 2022 1/1lmprovements
Water 218,902
Water 1,500,000
1,958,502 2022 Total - Sewer
Water 10,000 2023 Equipment
Water 120,000 2023 111 Improvements
Water 219,902
Water 1,500,000
1,849,902 2023 Total - Sewer
Annual Capital Spending
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
• Sewer • Water
Sewer
Sewer
Sewer
317,172
100,000
200,000
617,172
Sewer 11,258
Sewer 100,000
111,258
Sewer 556,003
Sewer 100,000
656,003
Sewer 10,000
Sewer 100,000
110,000
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1765'512 '9
58Z`SZL
51717'18Z
211`16
L55'L 10`7
1,088,720
256,464
6,460,584
(145.2 90)
Lh6`LI
1115'151)
6L0'PZ
005'1
18,857
(143,397)
1 161)'11Z)
(088'821)
104£`4)
%005111
9101
6,201,742
5hL`I0
8L680L
86,774
275,926
LSL`19C E
626`011`1
122,322
6,066,697
135,045
4!6`81
J
4,500
25,046
160,090
(055'6E1)
1.58'81
L8t: S£
(£0L'pZ
(026`4)
%005'0I
SI
666`115`5
666'1
620`269
9I SOLZ
Z79`Z8
3,522,245
119'621'1
(ow ILZ)
620`28L'5
L86'08
989`91
(1:181
818'ZZ
005`7
(591`521)
L58`8l
(4,340)
(120,648)
(368,870)
%005
P105
4,899,096
960`668`1'
677,457
666`9L5
187`48
Z86`L6Z`E
106`81 Z` I
(058'5891
91'6'P8S'S
9Z1`65
540`61
4,500
25,177
(660,673)
(851`94!)
570`61
III, 1'It Li
(86h'
(SlI)
.un)myn )
6105
991`652`17
991`65£`1'
568`149
87,216
258,918
26!'560`E
S IL`bZZ`I
5,304,939
(945,773)
L80'61
(t5S`0Z6)
611'SZ
005`4
19,025
(138,143)
(119,118)
(1,(139,672)
Projected
Change
2014 -2023
%00'S
%0£'Z
%00'5
%00'S
%08'9
%00'S
%000
0.73%
£105
aSungj
aSeranv
%PST
0.00%
0.00%
0.00%
%00'0
%6L'Z
%25'51
% 1
%IWO
%00'0
%00'0
Projected Seger Rate Adjustment
Revenues
Service charges
Connection rees
snoaueUaas1N
lsara)1x pue sargellad
Total Revenue
Operating Expenses
sigauag
ld
saawas temaequo,)
sa 1!pouu�to,)
Major maintenance
MC ES charges
- - - - - - -- uogaaaidaU 8U (SIs3
sa8i84o lamp J
•
New Depreciation
Total Operating Expenses
Operating Income (Loss)
Non Operating Revenues (Expenses)
Investment Earnings
Existar Special Assessments
New Special Assessments
Bond Interest - Existing
Bond Interest - New/Projected
Gain/(Loss) on d
Total Non Operating Revenues (Expenses)
Net Income (Loss) Before Transfers
Operating Transfers
Transfers In
Transfers (Ott) to General Fund
Transfers (Ott) - other
Total Operating Transfers
Net Income (Loss)
Sewer Utility Projections - Scenario One
1 % 000'0
£ZO
3,818,231
(1,698,237)1
1,387,336
((000`01 U
O££`L6£`£
1
3,447,866
1
IS£S'IISI
998`L44`f
7,044,128
(8,619,664)
1,387,336 I
27,873
I (LZ£b9 t)
%000'0
ZZOZ
192`264`4
814`64£` I
(444L98`1)
(£00`959)
OL8'89Z`2
3,268,570
549,661
6,916,775
(8,171,426)
1,349,418
32,794
09S`LZI
%000'0
IZOZ
4,357,297
9L£`99£'1
(4S1`OZ1`I)
(8SZ`I11)
I9Z`Z64`4
f-
.,
-
0I'O'ILt: l
117'IZI`2
6,791,835
(7,803,052)
808'12
9L2'992`I
L96`98£
%000'0
0Z0Z
162` £84`4
281222'!
(8L6`!88)
(ZL I`L19)
I L6Z`LS£`6
691`E96'8
2 ,963,169
1,394,128
1 (ZZ6`L04`L)
Z9Z`699`9
1,333,153
32,728
ZZZ`LZ9
%000'0
610Z
I 1£8`L46£
854`44£`1
I6Z6`Z£9)
(690 I)
4,483,291 1
1!L`I£8`Z
08S` 10'1
IICI£8`Z
6,549,011
(7,079,279)
1 618'8Z
884`44£` 1
843,009
%000'0
810Z
I Z9L`ILZ£
(437,752)
1,350,163
(236,342)
11£8`L16'£
64Z`90L`Z
2,706,249
1,241,582
6,431,036
(6,765,622)
1,350,163
23,884
094`6£0`1
%000'0
LIOZ
1 944`8S4`Z
(250,091)
1,345,184
(LLL`I8Z)
I Z9L1 LZ`£
2 ,584,234
6ZS`L89
4£Z`48S`Z
6,315,294
(6,460,584)
L46`L l
481 `S4£` l
148`L 1
%00S*01
910Z
1 416' 065`8
35,387
1,233,261
(911'104'1)
2,458,446 I
6L9`988'8
2,426,679
31,767
(L69`990`9)
Z4L'108`9
416`8!
198`2£8`1
6IZ`L8£`I
%00S111
SIOZ
I S£L`S8Z`Z
865`41Z`l
(0L8`89£)
(648`048)
1416'065'2
9 18`£1 £`Z
2 ,313,216
277,698
5,51 1 999
(5,783,039)
989`91
865'418'1
442`096
%008'0
4108
1 884` 165`Z I
(788,171)
1,248,027
(609'S9L)
2,285,735 I
2,233,979
95L`15
6L6`£2Z`Z
4,899,096
(5,584,946)
1,248,027
19,045
222`185
' .>!u)evy
849`LLL`Z
(1,039,672)
1,224,715
(co IL£)
I884`16S`Z
9L6`IZI`Z
2,121,976
469,512
4,359,166
(5,304,939)
880`6!
SIL`4ZZ`I
6Z0`86Z
Projected
Change
2014 -2023
%00'001
%00'04
£IOZUIOZ
a8ue4O
aStuany
Projected Sevier Rate Adjustment
1 Beginning Cash & Investments
uogeiaatdaQ
amoaul PN
1 .
Acquisition and Construction of Assets
Proceeds from New Long -Tenn Debt
Payments on New Long -Tenn Debt
Payments on Existing Long -Tenn Debt
!Ending Cash Balance
a3uele6 gseO muumuu W
For ongoing operations
For debt service
Minimum Cash Balance Required
Amount Over (Under) Minimum
Debt Service Coverage
Operating Revenues
Less (Operating Expenditures)
Add in Depreciation
Plus Non - Operating Investment Earnings
Net Revenues
Debt Service
(Debt Service Coverage
Sewer Utility Projections - Scenario One (Continued)
1 %05r1'
l£ZOz
5,287,382
£9Z'ZLt'S
E9S`Z
1 8£S`£Lt
911'1911
1,349,386
1,739,569 I
537,559
968'80Z
L9£`£9Z'S
I I18lt
08S'6Z
Z£9`
(320,733)
O
o
e h
O
CO
74:1
N
Y
—
(OL t' 581)
>L'6IZ1
(OLt'S81)
%0SZ'1'
ZZOZ
1,0t`Z00'S
PZ8`98 I'S
LSS`Z
1,137,161
459,745
1,322,927
6S5`LES
OLO`SLL`l
(6£9'St)
£9t`Z£Z'S
1 Z8S`8Z
29,580
ZE9` I
(265,449)
pp
O
'
I
W
O
N
P
T
(890`081)
(198'9Zt)
(890`081)
%05Z't
I ZOZ
S90`££L't
SZ0'LI6`t
OSS`Z
1,111,595
446,355
886`9&`1
6SS`LES
96e118`1
(L9L'98Z)
Z6L'£ors
ZOCLE
O8S`
ZE9` I
(60 1'662)
8
Cri
O
b
N
N
N
■
r
n
N
V.
(174,824)
(561'L89)
(Ken I)
%0SZ't
Iozor
96b`8Lt`t
866`199`4
tN5`Z
1,086,603
433,354
LSS`1LZ'I
1,848,261
537,559
5,177,333
(515,336)
48,537
08S`6Z
ZE9`I J
(ttL`
8
V
o
h
e
r
R
N
2
N
.0
t-
(ZEL`691)
(169,732)
(932,562)
1 %0Srt ,
I610Z
988`LEZ`t
6Z6`0Zt't
8ES`Z
1,062,173
420,732
1,246,624
6SS`LOS
186`588`1
(6£I'ZoL
690'£ZI'S
24,098
085'6Z
ZE9'I
1E56'9 1Z)
O
Co
on
'7
+
C
••
tz
h
�
N
P
V,
a
(164,788)
(164,788)
(1,024,070)
'Y.(05
810Z
4,010,454
II'0`£61'6
I ES`Z
1,038,292
408,478
l8l`ZZZ'1
1,924,470
432,406
(98L'Z£8I
LZ8`SZO`S
1 Zt0`tE
29,580
ZE9` I
236 533
g
O
■
m
r
V
b
>
v,
cc
c
6386'651)
(159,988)
(1,159 552)
%05 Z't
LIOZ
3,795,470
Z09'LL6'£
SZS`Z
1,014,948
396,580
91r861'1
1£9`41£
Si'L'E96'1
4,888,121
(910,519)
1,LS`tt
29,580
Z£9` I
(ZOS`SSZ)
pp
O
V M
y r
n v'
r I.
(8Z£`SSl)
(155,328)1,
(1,241,063)%
1 %0SCI ,
I910Z
3,592,246
£Z6'£LL'£
615`Z
992,129
385,029
ZZL`tL1`I
2,003,822
273,563
4,829,265
(1,055,342)
81
08S'6Z
ZE9` 1
(9tL`6£ 1)
g
7
b
a
00
a
s
M
(roos'o i)
(150,804)
(1,290,232)
052'1
IS10z
3,400,129
2,513
3,581,354
969,823
373,815
889'151'1
2,044,716
135,630
4,675,673
11,094,319)
Z£9` l
(147,384)
O
O ,
a
,O
OD
p
O
00
T
P
(214'941)
(o58'ott'I)
(ZIt'9tn)
%0SZ't
It10z
3,218,506
6LZ'66£'£
90S`Z
948,019
349,067
OSZ'Lt1'1
2,086,445
74,513
1} 111'9oZ'i
462`509`1
196Z`
Z£9` I
1
Viz:
r
L0l £171
(143,107)
(1,320.694)
a!n)na(a,3 I
1£102
3,058,000
ZZ£'8£Z`£
00S`Z
904,130
343,482
SE9`ZZI'l
ISZ`160`Z
19L 1'£Z Z' I l
861'191'1
Z91`91
Z£9`I
S
a
N
N
N
ry
a
0O
O
G'
n
(ISc9ti()
(£llt'L££' I )
(I
Projected
Change
2014 -2023
%00'0
%Sr0
%W0
%00'£
%0£'Z
%00'0
%00'2
%£Lro
Average
Change
2009 -2013
%68'Z-
%00'0
%£6'Z
WN
% ZO'£
%1'6'Z
%00'0
%LL'Z
Projected Water Rate Adjustment
Saa v3S mi satire.°
sanuana6 Sups, ado
Miscellaneous
Total Operating Revenue
Operating Expenses
saJpouauo3
lauuosiad
anueuayaew ao£eyv
Sa9A1OS 167143B .1410D
uo9aoaida0 max
uogaoaidap 8ugsocg
Total Operating Expenses
Operating Income (Loss)
Non Operating Revenues (Expenses)
58ua usg a
Existing Special Assessments
New Special Assessments
a 11 Aal Ja!{t0
auanaI le!<auxuano8ialul
Bond Interest - Existing
Bond Interest - New
Net Income (Loss) Before Transfers
Operating Transfers
i-"d Ie1aua0 02 0. 111 11 0 -9 3suakl,
ul snalsrauy
I Transfers (Out) to Water Fund
Transfers (Out) - other
Total Operating Transfers
Net Income (Loss)
Water Utility Projections - Scenario Two
cn
LI—
N
co
—J c0 M
O N N
a
d
I %005 z
7,840,445 I
7,840,445
I 001ZZ1
60£`I£8
316,9531
5,961,967
964,434
1611 6LL)
699`619`8
Z06`ZZ4
665'SZ
ZE9` 1
OOS`4
915'72
(£OO'L9L )
91Z`ZI
(£ZZ`ILl)
L58'81
6OL'fZ6)
90L'951)
04£`4) j
%005'Z
EZ0`115`L
£Z0` 1 15'4
98Z`9I1
619'ZI8
310,738
5,582,366
L11'1786
365,301
8,171,426
(660,403)
409`92 J
Z£9` I
005
(6I' ' 9 I)
516'£1
L84'91
(4£Z`991V
L58'81
(tf9
(61L'ISI)
(o1E`4)
%006Z
495`561'L
P9s'56l'L
817t0 l
64E`46L
304,645
5,226,934
102`400` I
362,175
7,803,052
(607,488)
LSL`£Z
Z £9`1
005`4
fL8`61
10,017
(597.472)
f146E`191)
L58'81
(6trrrL)
(LL8'91-
(04£`4)
%006'Z
169'998`9
169'998'9
776,489
105,474
298,672
4,894,133
1,024,695
308,458
7,407,922
(541,230)
466`4Z
ZE9` 1
(25,204)
4,500
(811£ S£5)
ZZ6'S
(£69`951)
L58'81 I
(4,340)
(142,176)
(677,
%006'Z
496`ZSS`9
496'ZSS'9
759,032
100,452
292,815
4,582,522
1,045,607
11
6LZ'6L0`L
lf8`86Z
22,802
(30,397)
4,500
(1,463)
1527.777)
(6Z1ZSl)
L58`8I
(4,340)
(137,612)
(665,390)
%006'Z
6,253,682
Z89`1SZ'9
741,966
95,668
287,074
4,290,751
9176'990'1
283,217
6,765,622
(511,941)
8IZ`IZ
Zf9`I
005`4
(LSE`9E)
I L tli I)Z5)
(L00'6)
(869'L1-1)
LS8`81
(4,340)
(133,181)
(654,129)
%000'9
4L 1'896'5
PL I `896`5
725,285
91,113
281,445
4,017,557
OZL`880` 1
256,464
6,460,584
(492,410)
8£8`61
Z£9` 1
008`4
(891 `Z4)
(809'
(8 61`91)
(L6£`£4l)
L58'81
(4,340)
(128,880)
(637,487)
%08£'9
84E`6ZS`S
841'6ZS'S
708,978
86,774
LSL` l9L`£
9Z6`SLZ
6E6'01 1 `1
122,322
6,066,697
(537,349)
86L`SI
719'1
005`4
(24£`91)
(19L'8Z51
885'8
(OZZ`6£1)
LS8`81 I
(4,340)
(124,703)
(653,464)
%08£'9
Lh0`901`S
Lt'0'901'S
Z49`Z8
6£0`869
54Z`ZZS`£
9I5`OLZ
119'8E1'1
80,987
5,783,039
(676,993)
I LZ`OZ
ZE9`I
005`4
(005`81)
(6811'699)
£06'L
(591'5£1)
L58'8I
ILfc'68L1
(849'0ZI)
(04£`4)
4I0Z
%051'9
4,715,252
zs2`s IL`t
184`48
LS4`LL9
276,999
3,297,982
106`8 I Z` I
29,126
5,584,946
(869,694)
540`61
Z £9 I
005`4
•
(L Is`tt8)
LLI`SZ
19,045
(146,428)
(SIIYZL 61
(864'LZI)
(Sli)
0oin' o)
1
£IOZ
1991'658$
991`65£'4
9)Z`L8
568`!49
258,918
3,092,195
81L`4ZZ`I
5,304,939
(945,773)
L80`6
ZE9` 1
1 005'17
(ts5'OEbr
61Z'SZ
(£41`S£l)
SZ0`6l
�'i(
(8l I'61 l)
Projected
Change
2014 -2023
%00'8
V.OVZ
%08'9
%00'Z
%00'O
%£L'0
Average
Change
2010 -2013
/PST
%00'0
%00'O
%00'O
I %I5'9
%6L'Z
%08'9
%f5'21-
%001)
Projected Sewer Rate Adjustment
Revenues
Service charges
Connection fees
Penahies and interest
Miscellaneous
Total Revenue
Operating Expenses
sarypouauoJ
lauuouad
sa5ieyo siwN'
saa uius lux9arpuo J
Other charges
Existing Depreciation
New Depreciation
Total Operating Expenses
Operating Income (Loss)
Non Operating Revenues (Expenses)
Investment Earnings
Existing Special Assessments
New Special Assessments
Intergovernmental revenue
Other revenue
Bond Interest - Existing
Bond Interest - New/Projected
Gand(Loss) on disposal
Total Non Operating Revenues (Expenses)
Net Income (Loss) Before Transfers
Operating Transfers
Transfers In
Transfers (Out) to General Fund
Transfers (Out) - other
Total Operating Transfers
Net Income (Loss)
TU
LL
'5 a'
LO
Y
co M
O N
co
d
Sewer Utility Projections - Scenario Two
I %00S'Z
I£ZOZ
3,917,730
(923,709
[000'011)
9E£`L8E` l
£LV6VZ)
1.88`I ZO`V
3,447,866
271,988
6ZO`ZO£
4S8`6IL`E
7,840,445
(8,619,664
1,387,336 I
28,599
886'ILZ
91L`9£9
I V£'Z I
%00S'Z
(V£9`S6L)
LL£`VV9`E
1,349,418
(656,003)
500,000
(124,428)
0£L`Ll6`£
886'ILZ
0LS`89Z`£
3,540,559
377,171
7,511,023
(8,171,426)
V09`9Z
81V68E'1
715,619
140,677
160S I
%006'Z
[ZOZ
3,254,412
(744,349)
(8SZ`III)
9LE`99E` I
(1708'0ZI)
3,644,377
3,121,221
140,677
08V`Z8£
868`19Z`E
7,195,564
(7,803,052)
LSL`EZ
9LE`99E` I
LL9`0V
SV9'Z8L
195 S
%006'Z
OZOZ
3,423,832
(677,484)
(ZLI`Ll9)
ESI`EE£`I
(9I6`LOZ)
3,254,412
2,963,169
140,677
3,103,845
150,567
I (ZZ6`LOVL)
169'998'9
V66`VZ
ESI 'EEC I
816,917
233,120
I OS'£
%006'Z
6102
3,123,556
(665,390)
1,344,458
(176,069)
(202,723)
3,423,832
OZI`E£Z
IIL`l£8`Z
000'65£
Z£8`V90`£
6,552,964
(7,079,279)
1,344,458
22,802
840,946
233,120
I9'£
%006'Z
810Z
L 2,906,586
(654,129)
(ZI
£9l`0S£` 1
(242,722)
9SS`£Z1`£
2,706,249
233,120
2,939,369
184,187
6,253,682
(6,765,622)
1,350,163
21,218
859,440
279,079
I80£
%000'9
LIOZ
2,717,577
(637,487)
1,345,184
(281,777)
(116'9EZ)
988'906'Z
2,584,234
279,079
2,863,313
43,274
5,968,174
(6,460,584)
1,345,184
19,838
872,613
279,079
IEI£
%059
910Z
2,575,128
(653,464)
(91 l'1041)
I9Z`EEZ`I
(Z£Z`88)
000'ZS0'I
LLS'L IL`Z
2,426,679
279,079
2,705,758
11,819
5,529,348
(6,066,697)
86L`8l
I9Z`E£Z`l
VLS`V0
OIL`VIL
£8'9
%05£'9
SIOZ
2,776,891
(789,737)
1,214,598
(540,549)
(VL0`98)
8Z1`SLS`Z
i
VLS`V0l
91Z`E1E`Z
2,417,790
157,338
5,106,047
(5,783,039)
1,214,598
20,271
557,877
104,574
EES
%05£'9
VIOZ
(SI0`ZL6)
88VI6S`Z
1,248,027
(765,609)
000'SL9
2,776,891
VLS`V0I
6L6`££Z`Z
2,338,553
438 ,338
4,715,252
(5,584,946)
St'0'61
LZ0`8VZ` I
397,378
Projected (•nlrulnrr
Change
2014 -2023 2013
2,777,64
(1,039,672.7
1,224,715
(cot IL£)
8817`1681
9L6`I Z I `Z
2,121,976
469,512
4,359,166
(5,304,939)
L80'61
lL`VZZ`I
6Z0`86Z
40.00%
100.00%
Average
Change
2010 -2013
Beginning Cash & Investments
Projected Swher Rate Adjustment
ucgaoardad
awoaul laN
Acqustion and Construction of Assets
Proceeds from New Long -Tenn Debt
Payments on New Long -Term Debt
Payments on Existing Long Debt
Endi Cash Balance
Minimum Cash Balance
For ongoing operations
For debt service
Minimum Cash Balance Required
Amount Over (Under) Minitmm
Debt Service Coverage
(sammuadxg 8uyerad0) ssai
sanransg 8ugeJadO
s8rmueg prawsanul 8ugv radp -uo N snld
uorlaoaida0 na ppd
Net Revenues
Debt Service
(Debt Service Coverage
Sewer Utility Projections - Scenario Two (Continued)
en
To
co
J ▪ ca M
O a) N
T (t N
0 d
%iN16'Z
£Z0Z
(1,749,6481
(1,844,145
1,387,336
(110,000
(249,473
(0£6'59S`Z)
3,447,866
271,988
3,719,854
(6,285,784)
6,948,609
(8,619,664)
1 9£E`L8E` 1
886'I
(OZL`£8Z)
1(70 U
%006'Z
ZZIIZ
(L44`ZOL`t)
(881'911'1)
1,349,418
(656,003)
I(8Z4`4Z1)
I 000`005
(St9'61•L` I)
3,268,570
271,988
3,540,559
(5,290,207)
6,630,814
(8,171,426)
814`64£`1
(191,194))
140,677
1(9E
%006'Z
I ZIIZ
(614,495)
(1,636,007)
(85Z`1II)
9L£`99£` I
(t08`OZI)
(1 ,116,188)
i
3,121,221
140,677
3,261,898
(4,378,085)
6,327,663
(7,803,052)
9L£`99E`I
(109,013)1
140,677
1(LCO)
%006"Z
OZOZ
405,177
(1,527,736)
1,333,153
(617,172)
(916`LOZ)
(561'1'19)
2,963,169
140,677
St'8`EOl `E
6,038,476
(7,407,922)
856`Z
ESI`££E`I
233,120
16 , 1o) I
'70006'Z
6102
(968'IL1`I)
LOY`Il6
1,344,458
(176,069)
(202,723)
LL I'
2,831,711
233,120
(SS9'6591)
ZE8`t90`E
(6LZ`6L0`L)
L09`Z9L`S
859`9
854`44£` I
34,440
233,120
151 - o
%006'Z
1,459,245
(1,418,937)
(Z1£`9£Z)
£91'0g I
(242,722)
LOV I I6
0ZI`EEZ
6f' '90L`Z
2,939,369
(2,027,962)
5,499,439
(6,765,622)
Z59`0I
£91'0g£` I
94,632
279,079
1E'0
%006'Z
L I11Z
1,995,299
(1,362,550)
1,345,184
(281,777)
(116'9£Z)
S1Z'6St'I
6L0`6LZ
tr£V1
2,863,313
(1,404,068)
5,248,384
(6,460,584)
995`11
1 I
147,550
279,079
£S0
%006'Z
91OZ
2,374,780
(1,175,393)
1,233,261
(1,401,116)
(Z£Z`88)
000'Z SO' I
66Z`566`I
2,426,679
279,079
2,705,758
(710,459)
(L69`990`9)
188`800`5
1,233,261
17,336
PLS`t0l
18L`Z61
I'8l
%006"Z
(084'411'1)
S8Z`106'Z
1,214,598
(540,549)
(I'L0`98)
08L`1L£'Z
2,313,216
104,574
(110'£1)
06L`L I1`Z
4,780,396
(5,783,039)
6LI`lZ
86S`8'IZ'I
tL5`t01
t£I'££Z
£ZZ
%006'Z
2,869,574
LZO`81Z` I
(LOL`SZ 1 `I )
(765,609)
675,000
68Z`106`
2,233,979
104,574
2,338,553
562,732
4,562,418
(5,584,946)
1,248,027
18,187
989'f1Z
I£tOZ
2,777,648
761,586
1,224 715
(371,203)
2,869,574
9L6`IZI`Z
2,121,976
747,598
4,359,166
(5,304,939)
1,224,715
19,087
6Z0'86Z
Projected
Change
2014 -2023
%00'001
%00'01
£IOZ -OIOZ
a8uaqj
a2BJSAV
Projected Sewer Rate Adjustment
Beginning Cash & Investments
Net Income
Depreciation
Acquisition and Construction of Assets
Proceeds from New Long -Tenn Debt
Payments on New Long -Teri Debt
Payments on Exstig Long -Tenn Debt
Ending Cash Balance
Minimum Cash Balance
a3Aias glop tog
suopmado 8u[oSuo tog
Minimum Cash Balance Required
Amount Over (Under) Minimum
Debt Service Coverage
(sanepuadxg Rasmsdo) ssal
somanoo 8u unad0
Add in Depreciation
Plus Non - Operating Investment Pamngs
Net Revenues
Debt Service
(Debt Service Coverage
Sewer Utility Projections - Scenario Three (Continued)
1%0067
£Z0Z
6,948,609
6,948,609
I 001`ZZI
60£`1E8
316,953
5,961,967
1 4E4`496
•
422,902
8,619,664
(1,671,055
IZE9'l J
(46,702)
N
v
a o
e
I
=
-
(EZZ'lL1) J
L58'81
1 1£4'898` 1)
(90L'9S1)
(09£`4)
%006'Z
ZZOZ
918`0£9`9
618'0£9`9
98r9
619't18
310,738
5,582,366
L11'486
365,301
8,171,426
(1,540,612)
2£9`1
(691 `62)
t ,
O
M
a
b
r
Y
18,857
(166,236)
(4,340)
(151,719)
(1,725 ,348)
%006'Z
1ZOZ
£99`LZ£`9
£99`LZ£'9
794,349
110,748
304,645
5,226,934
10Z 400'1
362,175
7,803,052
(1,475,389)
•
2£9`1
(ZZS` 19)
8°
' q
V N
M
N
N
O
(960191)
LS8`8I
(4,340)
(146,877)
(1,657,656)
%006'Z
OZOZ
9L9`8E0`9
9L9`8£0`9
PL9`S01
689`9LL
f£1 968`9
ZL9`86Z
1,024,695
308,458
7,407,922
(1,369,445)
I
SOI
Z£9` l
(9£9`99)
"'
P
NI
N
ra
Zr"
T
(£69'951)
LS8'81
(4,340)
(142,176)
(1.544,017)
%006'Z
6102
L09`Z9L`S
L09`Z9L`S
ZS9`001
Z£0`6SL
292,815
4,582,522
L09`S90` I
298,851
7,079,279
(I,316,672j
L09`01
ZE9' 1
(999`69)
8 &
4 P
R N
M
■
'°
h
T
C
(6Zl`ZSi
L58`81
(4,340)
(137,612)
(1,487,189)
%006'Z
810Z
6£9`669`5
5,499,439
741,966
95,668
287,074
4,290,751
996`990`1 4
283,217
6,765,622
(1,266,183)
I loL`9l
Z19
(189`SS)
V,
v,
M
r
18,857
(147,698)
(4,340)
(133,181)
(1,433,922)
%006't
LIOZ
5,248,384
98£`89Z`S
El 1'16
S8Z`SZL
281,445
4,017,557
1,088,720
256,464
6,460,584
(1,212,200)
1 688`81
Z£9` I
(081`19)
8 v°'
v 'o
M
0
v,
x
Y
(L6E`£9l)
L58`81
(4,340)
(128,880)
(1,377,239)
%006'Z
9102
l88`800`S
t88'800'S
4U`98
8L6'80L
275,926
3,761,757
6£6'0111
122,
6,066,697
( 1,057,816 )
20,2781
Z£9'I
(996`82)
Y
N
0-
-'
(OZZ`6£l)
L58`8I
(4,340)
(124,703)
(1,185.076)
%006'7
I0Z
96E'08L`4
96£`08L'4
Z99'Z8
6£0`869
270,516
3,522,245
119'££1`1
80,987
5,783,039
(1,002,644)
I6L1'IZ
ZE9'1
(005`91)
O ..
O •.
h W
V O
M
a
P
P
18,857
(135,165)
(4,340)
(120,648)
(1,112,480)
%006't
9102
8117`Z951;
81t'Z951
189`98
L59`LL9
Z86`/.6Z`£
666`9LZ
106'8It'!
(8ZS`ZZO'1)
996'985'5
9Z 1'6Z
I L81'81
■
Zf9` 1
P
•
e
N
S
n
00
&
(8 ,29`99
590`61
(115)
(127,498)
(1,125,707)
991'658'4
,
991`6581
641,895
87,216
258,918
3,092,195
SIL`9ZZ'l
(£LL`5N')
6£6`90£'5
19,0871
2£9'1
8 P
n
N
F
r C.
N
£176`6£1
SZO`61
(986'19L)
896'851
Projected
Change
2014.2023
I %00'5
%OCZ
L %08'9
%00'2
0.00%
%EL0
Average
Change
2010 -2013
%WE
0.00%
0.00%
%00'11
%95'9
%6L'Z
I _ %08'9
%£511
%00'0
Projected Sesser Rate Adjustment
Revenues
saag uoZ3awoa
sa lmi° =woS
snoauepaostA
1salm i? pue sanieuad
Total Revenue
Operating Expenses
sauipousuo(1
Iamoad
Contractual services
Is/ICES charges
Other charges
Existing Depreciation
New Depreciation
Total Operating Expenses
Operating Income (Loss)
Non Operating Revenues (Expenses)
s8uwed grannsSAUl
Existing Special Assessments
New Special Assessments
anuaAa.r
anuanaa(etuau1UaAOBralul
Bond Interest - Existing
Bond Interest - New/Projected
Net Income (Loss) Before Transfers
Operating Transfers
1=3 le ""0 rn (r0) Ua 3 SM .L
L� Ul
Ttansf,,s (Ott) - other
Total Operating Transfers
Net Income (Loss)
Sewer Utility Projections - Scenario Four
1 %006'Z
1
(1 E£`898I)
(916`(.01 1)
1,387,336
(110,000
(202,279
061`106`1
3,447,866
248,981
3,696,847
(5,598,03
[(499`619'8)
609`846`9
1,387,336
283 720
248,981
I(i'1 1)
%006'Z
ZZOZ
(497,463)1
(1,725,348)
1,349,418
(656,003)
500,000
(78,520)
(9I6
3,268,570
248,981
(L94'SZ9'4)
ISS'LIS`E
6,630,814
(8,171,426)
814`64£` I
(191,194)
117,669
I(Z9 1)
%006'Z
IZOZ
(959
(8LL`8
(85Z
9LE'99E` l
(L4l`9L)
(£94'Lb4)
699'L II
IZZ`IZI`£
(£S£'9£L'£)
068`8£2`£
6,327,663
(7,803,052)
I LE`99E`I
699`L l I
(£[0`601)
I(£6 0)
%006'Z
0Z0Z
973,736
(1,544,017)
(ZL 1'L 19)
ES I 'EEC 1
(LL4`491)
(8LL'8O
699`LII
691 `£96`2
3,080,838
(3,099,615)
6,038,476
(7,407,922)
1,333,153
7,108
Ell`0IZ
(48I`6Z)
1(4I'0)
%006'Z
6t0Z
1,453,004
(1,487,189)
1,344,458
(176,069)
(694`091)
9£L`£L6
- i
Ell`0IZ
I I L`I E8`Z
3,041,824
(2,068,088)
5,762,607
(7,079,279)
L09`0l
854`44C1
38,393
210,113
810
%006'Z
8I0Z
2,026,221
(1,433,922)
1,350,163
(236,342)
(911 `ESZ)
400`£54' I
2,706,249
210,113
2,916,361
(1,463,357)
5,499,439
(6,765,622)
l6L'4l
£91'05C1
L65`80£
ILL 6
1 Z£'0
%006'Z
LIOZ
2,587,469
(1,377,239)
1,345,184
(281,77
(247,417)
IZZ`9Z0'Z
2,584,234
308,597
2,892,830
(866,609)
5,248,384
(6,460,584)
688'81
481 `S4£` I
151,873
308,597
1640
%006'Z
910Z
(9L0`58I `I )
04L`LLL`Z
(911'1041)
l9Z`££Z`I
1,287,000
(124,340)
694`L8S`Z
2,426,679
308,597
(908'L4I )
SLZ EEL Z
5,008,881
(6,066,697)
8LZ`0Z
I9Z`£EZ`l
90£`£51
ZZL`S61
182
%006'2
SIOZ
2,901,285
(1,1 12,480)
(645'045)
86S`4IZ`I
(411`LOI)
000`ZZ4
2,777,740
90£`E51
9I Z`E I E`Z
SIZ`II£
ZZS`994`Z
' 4,780,396
(5,783,039)
6Ll`IZ
865'4IZ` 1
1719`£Z1
681
%006'Z
4IOZ
2,869,574
(1,125,707)
(609'594)
LZ0`84Z` I
000'EL9
S8Z` I06`Z
2,233,979
123,614
£69`£45
Z65`LSE`Z
4,562,418
(5,584,946)
1,248,027
18,187
989`£42
nropi. /D) I
2,777,648
S IL`4ZZ` l
(985'19L)
4LS`69 Z
9L6' 1Z I `Z
2,121,976
747,598
4,359,166
(5,304,939)
1,224,715
19,087
6Z0`86Z
Projected
Change
2014 -2023
40.00%
100.00%
£IOZ
agua40
a8nianv
Projected Sewer Rate Adjustment
Beginning Cash & Investments
Net Income
Depreciation
Acquisition and Construction of Assets
Proceeds from New Lon -Tenn Debt
Payments on New Long -Terri Debt
Payments on Existing Long-Term Debt
Ending Cash Balance
Minimum Cash Balance
For ongoing operations
For debt service
Minimum Cash Balance Required
Amount Over (Under) Minivan
Debt Service Coverage
(samspuadx3 BulaiadO) ssrl
sarunanau 8u;anado
s Nau Isaw1 UoN wild
uc9aoaida0 u PPv
Net Revenues
Debt Service
1 a8uuanoa aal.ua51gagi
To
LL
Y 0
J N
w
O y
U a
Sewer Utility Projections - Scenario Four (Continued)
Q)
a) CO
CO
Y 0
O Zr
T
To
C.) a
I %t£0'S
901' l S8
7,851,706
831 1
£56'9IE
001 `ZZ I
L96'196'5
964,434
422,902
8,619,664
(767,9
{ 6ZE`9Z
ZE9` 1
000p - --
(91S`zz)
(Z1(f8SL)
566'6
(£ZZ`ILI)
L58'81
(811'416)
(901'951)
(04£`4)
%00011
ZZ17`04E'L
I 7,340,422
619t18
8£1`01
98Z'91
99£`Z85`5
L I 1'486
365,301
8,171,426
(831,004)
98 6'6Z
ZE9` l
005`4 _ - --
(64Z`91)
(t£S's181
OLP'SI
Of Z
L58'81
(4,340)
(151,719)
(967,253)
(/0000
8Z8`LOZ`L
8Z8`LOZ'L
64£`46L
110,748
304,645
1£6'9ZZ`S
1,004,201
362,175
7,803,052
(595,224)
859`ZZ
E9` l
005`4
(6L8'61)
(LOC98S)
L 16'8
(466`191)
LS8'81
(4,340)
(146,877)
(733,184)
IS6'8
54L`LLO`L
SPL'LL0'L
776,489
105,474
298,672
4,894,133
1,024,695
308,458
7,407,922
(330,176)
ELE`ZZ
Z£9` 1
(25,204)
4,500
(SL8'91 :0
10£`£
(669'96I)
L58'81
(ls5f69t)
(91l`Ztl)
(07£`4)
%081'Z
561`6L
(161'61£'9
759,032
100,452
292,815
4,582,522
10 9'510` 1
298,851
7,079,279
(699,783)
L54'IZ
ZE9`1
005`4
(L66`0£)
(I6s'ZOLI
(sos'Z)
(6Z I `ZS U
L58'81
(4,340)
(137,612)
(840,203)
480`611`9 - 1
1130'£11`9
996'IVL
95,668
287,074
4,290,751
94
283,217
6,765,622
(652.538)
Z06'0Z
ZE9` I
005`4
(LS£`9E)
(198'199)
(£Z£`6)
18,857
(147,698)
(4,340)
(133,181)
(795,042)
%91L'Z
908`966'5
908`926'5
58Z`5ZL
S11`I8Z
El 1'16
L55
1,088,720
256,464
6,460,584
(523,778)
ZSL`61
ZE9` I
005`1
(891' i')
(16,284)
(540,062)
(166'£11)
L58'81
(4,340)
(128,880)
(668,942)
%£89'S1
910`9L9`5
9I0`9L9'S
708,978
9Z6'SLZ
4LL'98
LSL' l9L`£
6E6`011`1
122,322
6,066,697
(390,681)
059`L I
ZE9`
005`4
(Z1E
(Zti £8£)
01 4`L
OZ`6£ I)
L58`81
(4,340)
(124,703)
(507.945)
%069'£
116`8181
116'818'1
693,039
915'0LZ
Z19`Z8
3,522,245
119'6E1'1
80,987
5,783,039
(964,095)
ZIZ`IZ
ZE9'I
005`1
(005'81)
IZS�ss61
t1S`S
(591'SE t)
L58'81
(006'SLO'II
(8t9`Ozl)
(01£`1)
1102
%000'£
818`995`1
4,566,848
LS1`LL9
666`9LZ
18448
Z86 L6Z`£
106`8 Z` l
(860`8 I 0' I)
916'68S'S
9ZI'6Z
L8I'8I
ZE9'
005`1
24,319
(993.779)
(8Z1`91l)
540`61
(LLZ' fill)
(86t`LZI)
(Stl)
d)l�l q.1
/n)
1
poz
991
991`65£'1
568`149
816`852
91Z`L8
561`260`£
SIL`1ZZ`
(£LL'st6)
6£6'10£'S
L80'61
ZE9'1
005`4
25,219
(920,554)
£16`66I
550'61
(985'190
896'851
Projected
Change
2014 -2023
%00'S
%0£Y
%007
%00'S
%08'9
%W'S
,WS
%00'0
{ %00'5
%W0
Average
Change
2010 -2013
%15'2
1 %000
%00'O
%W'O
./.00'0
I L %6L'Z
1 %£S'ZI-
1 %08'9
%00'0
0.00%1
0.00%
{ %00'O
1 Projected Sewer Rate Adjustment
IRevenues
Service charges
Connection fees
Penalties and interest
Miscellaneous
Total Revenue
Operating Expenses
{ su3aua
lauuosiad
Commodities
Contractual services
Major maintenance
MC ES charges
sa8aeya (ago
uorleraaida( 8uysixg
New Depreciation
Total Operating Expenses
Operating Income (Loss)
Non Operating Revenues (Expenses)
Investment Earnings
Existing Special Assessments
New Special Assessments
Intergovernmental revenue
Other reverse
Bond Interest - Existing
Bond Interest - New/Projected �I
Gain/(Loss) on disposal
Total Non Operating Revenues (Expenses)
Net Income (Loss) Before Transfers
Operating Transfers
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Transfers (Out) - other
Total Operating Transfers
Net Income (Loss)
Sewer Utility Projections - Scenario Six