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<br />Table 13 ~
<br />Redwood City Water Financing Plan ~
<br />Water Fund Cash Flow Projection IO&M Cost Escalator 3.5%1
<br />Adjusted Budget Projected
<br /> 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15 2015/16
<br />Rate Adjustment Target 12.0% 12.0% 10.0% 8.0% 8.0% 8.0% 8.0% 8.0% 8.0% 6.0% 4.0%
<br />Growth in active service connections 0.25% 0.25% 0.25% 0.25% 0.25% 0.25% 0.25% 0.25% 0.25% 0.25%
<br />Annual % change in water sales -1.9% -1.9% -1.9% -2.0% -2.0% 0.0% 0.0% 0.0% 0.0% 0.0%
<br />Interest rate on investments 3.5% 3.5% 3.5% 3.5% 3.5% 3.5% 3.5% 3.5% 3.5% 3.5%
<br />Beginning Fund Balances $11,624.926 $11,648,000 $11,605,000 $11,943,000 $12,548,000 $13,528,000 $14,669,000 $15,565,000 $15,778,000 $15,854,000 $15,918,000
<br />Revenues
<br />Water meter charges 5,837,000 6,552,000 7,224,000 7,820,000 8,465,000 9,163,000 9,919,000 10,737,000 11,623,000 12,349,000 12,874,000
<br />Water sales 13,082,000 14,409,000 15,578,000 16,523,000 17,520,000 18,566,000 20,054,000 21,662,000 23,400,000 24,808,000 25,807,000
<br />Less recycled water discount (10,000) (10,000) (134,000) (227,000) (396,000) (428,000) (488,000) (554,000) (629,000) (698,000) (759,000)
<br />Facilities fees 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000
<br />Water capacity charge 0 0 0 0 0 0 0 0 0 0 0
<br />Connection fees 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000
<br />Interest income 597,100 408,000 406,000 418,000 439,000 473,000 513,000 545,000 552,000 555,000 557,000
<br />Other 45 000 45000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000
<br />Total 19,921,100 21,774,000 23,489,000 24,949,000 26,443,000 28,189,000 30,413,000 32,805,000 35,361,000 37,429,000 38,894,000
<br />Expenses
<br />Employee costs 4,182,505 4,329,000 4,481,000 4,638,000 4,800,000 4,968,000 5,142,000 5,322,000 5,508,000 5,701,000 5,901,000
<br />Supplies and services 1,748,841 1,810,000 1,873,000 1,939,000 2,007,000 2,077,000 2,150,000 2,225,000 2,303,000 2,384,000 2,467,000
<br />SFPUC water purchases 6,134,764 6,439,000 6,439,000 6,786,000 6,714,000 7,917,000 9,979,000 12,635,000 14,894,000 16,524,000 17,258,000
<br />SBSA costs & water purchases 0 134,400 317,400 358,000 420,700 439,700 466,600 494,700 525,400 557,500 591,100
<br />Intemal services (net) 2,839,509 2,939,000 3,042,000 3,148,000 3,258,000 3,372,000 3,490,000 3,612,000 3,738,000 3,869,000 4,004,000
<br />Minor operating capital outlay 32,050 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000
<br />Recycling O&M + SBSA lease 11.000 220.000 325000 336000 348.000 360.000 373.000 386.000 400.000 414000 428000
<br />Subtotal operating 14,948,669 15,911,400 16,517,400 17,245,000 17,587,700 19,173,700 21,640,600 24,714,700 27,408,400 29,489,500 30,689,100
<br />Debt svc: 2005 bonds (gross) 2,142,585 2,144,000 2,144,000 2,146,000 2,146,000 2,145,000 2,147,000 2,148,000 2,148,000 2,147,000 2,147,000
<br />Debt svc: 2006 bonds (gross) 0 1,690,000 1,690,000 1,690,000 1,690,000 1,690,000 1,690,000 1,690,000 1,690,000 1,690,000 1,690,000
<br />Debt svc: 2007 bonds (gross) 0 0 770,000 770,000 770,000 770,000 770,000 770,000 770,000 770,000 770,000
<br />Debt svc: 2008 bonds (gross) 0 0 0 490,000 490,000 490,000 490,000 490,000 490,000 490,000 490,000
<br />Debt svc: 2009 bonds (gross) 0 0 0 0 980,000 980,000 980,000 980,000 980,000 980,000 980,000
<br />Less interest on bond rsrv funds (93,000) (178,000) (220,000) (247,000) (301,000) (301,000) (301,000) (301,000) (301,000) (301,000) (301,000)
<br />CapitaUreplacements 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000
<br />Conservation program capital 900.000 250.000 250000 250000 100.000 100.000 100.000 100.000 100.000 100 000 100000
<br />Subtotal non-operating 4,949,585 5,906,000 6,634,000 7,099,000 7,875,000 7,874,000 7,876,000 7,877,000 7,877,000 7,876,000 7,876,000
<br />Total 19,898,254 21,817,400 23,151,400 24,344,000 25,462,700 27,047,700 29,516,600 32,591,700 35,285,400 37,365,500 38,565,100
<br />Revenues less expenses 22,846 (43,400) 337,600 605,000 980,300 1,141,300 896,400 213,300 75,600 63,500 328,900
<br />Ending Fund Balances 11,647,772 11,604,600 11,942,600 12,548,000 13,528,300 14,669,300 15,565,400 15,778,300 15,853,600 15,917,500 16,246,900
<br />Debt Service Coverage 2.32 1.60 1.59 1.59 1.53 1.56 1.52 1.40 1.38 1.37 1.42
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<br />BARTLE WELLS ASSOCIATES
<br />F:\Jobs\Redwood City\1921\ \Redwood City Tables 1-13-06\Cash Flows.1I1312006.3:17 PM
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