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8.B. - Page 27
<br /> Table A1O
<br /> Redwood City Sewer Enterprise Cash Flow Projections
<br /> Fiscal Year Ending June 30
<br /> 2015/16 2016/17 2017/18 2018/19 2019/20
<br /> Adopted Projected Projected Projected Projected
<br /> Rate Increase 9% 4% 4% 4% 4%
<br /> Beginning Fund Reserves $29,891,000 $13,787,000 $16,493,000 $18,920,000 $19,072,000
<br /> REVENUES
<br /> Sewer Service Charges $28,173,000 $29,373,000 $30,624,000 $31,929,000 $33,289,000
<br /> Contract Agency Charges 5,979,000 6,742,000 7,325,000 8,387,000 9,889,000
<br /> Connection Fees 750,000 250,000 250,000 250,000 250,000
<br /> Investment Earnings 236,000 69,000 165,000 284,000 381,000
<br /> Other Revenues 75,000 75,000 75,000 75,000 75,000
<br /> Total $35,213,000 $36,509,000 $38,439,000 $40,925,000 $43,884,000
<br /> EXPENSES
<br /> Operating&Maintenance
<br /> City Operating Expenses $7,752,000 $7,988,000 $8,233,000 $8,488,000 $8,753,000
<br /> SVCW Operating Expenses 9,082,000 9,660,000 10,046,000 10,448,000 10,866,000
<br /> Subtotal $16,834,000 $17,648,000 $18,279,000 $18,936,000 $19,619,000
<br /> Net Revenues $18,379,000 $18,861,000 $20,160,000 $21,989,000 $24,265,000
<br /> Debt Service
<br /> Senior Debt Service
<br /> City Share of SVCW 2008 Bonds $455,000 $451,000 $456,000 $455,000 $453,000
<br /> City Share of SVCW 2009 Bonds(Net) 2,201,000 2,197,000 2,195,000 2,191,000 2,189,000
<br /> City Share of SVCW 2014 Bonds 2,073,000 2,071,000 2,071,000 2,072,000 2,072,000
<br /> City Share of SVCW 2015 Bonds 229,000 664,000 664,000 664,000 664,000
<br /> City Share of Future SVCW Bonds 0 0 0 984,000 984,000
<br /> Total Senior Debt Service $4,958,000 $5,383,000 $5,386,000 $6,366,000 $6,362,000
<br /> Senior Debt Service Coverage 3.71 3.50 3.74 3.45 3.81
<br /> Subordinate Debt Service
<br /> City Share of Outstanding SVCW SRF Loans $398,000 $1,537,000 $1,537,000 $1,537,000 $1,537,000
<br /> City Share of Future SVCW SRF Loans 0 0 650,000 2,225,000 5,849,000
<br /> City Share of SVCW Line of Credit Payments 50,000 85,000 85,000 85,000 85,000
<br /> Total Subordinate Debt Service 448,000 1,622,000 2,272,000 3,847,000 7,471,000
<br /> Total Combined Debt Service $5,406,000 $7,005,000 $7,658,000 $10,213,000 $13,833,000
<br /> Total Debt Service Coverage 3.40 2.69 2.63 2.15 1.75
<br /> Capital&Other Non-Operating
<br /> City Capital Improvements $7,090,000 $7,000,000 $7,000,000 $6,500,000 $4,250,000
<br /> City Carryover Capital Improvements 8,594,000 0 0 0 0
<br /> Cash Contribution for SVCW CIP 10,729,000 0 0 0 0
<br /> SVCW Capital Projects/Reserves 1,525,000 1,500,000 1,500,000 1,500,000 1,500,000
<br /> SVCW SRF Reserve Contributions 1,139,000 650,000 1,575,000 3,624,000 4,608,000
<br /> Subtotal $29,077,000 $9,150,000 $10,075,000 $11,624,000 $10,358,000
<br /> Total $51,317,000 $33,803,000 $36,012,000 $40,773,000 $43,810,000
<br /> Revenues Less Expenses $(16,104,000) $2,706,000 $2,427,000 $152,000 $74,000
<br /> Ending Fund Reserves $13,787,000 $16,493,000 $18,920,000 $19,072,000 $19,146,000
<br /> Days Cash on Hand 299 341 378 368 356
<br /> A-19
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