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Table A10
<br />Redwood City Sewer Enterprise Cash Flow Projections
<br />Fiscal Year Ending June 30
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<br />Operating& Maintenance
<br />2017-18
<br />2018-19
<br />2019-20
<br />2020-21
<br />2021-22
<br />City Operating Expenses
<br />Adopted
<br />Adopted
<br />Projected
<br />Projected
<br />Projected
<br />Rate Increase
<br />2%
<br />2%
<br />5%
<br />5%
<br />5%
<br />Beginning Fund Reserves
<br />$31,507,971
<br />$34,230,770
<br />$32,832,567
<br />$31,831,365
<br />$31,151,919
<br />REVENUES
<br />17,292,534
<br />17,990,514
<br />20,010,470
<br />22,145,951
<br />24,254,347
<br />Sewer Service Charges
<br />29,767,000
<br />30,408,000
<br />31,976,000
<br />33,625,000
<br />35,359,000
<br />Contract Agency Charges
<br />6,506,000
<br />7,216,000
<br />8,202,000
<br />9,279,000
<br />10,012,000
<br />Connection Fees
<br />100,000
<br />100,000
<br />100,000
<br />100,000
<br />100,000
<br />Investment Earnings
<br />270,000
<br />276,000
<br />422,000
<br />560,000
<br />542,000
<br />Other Revenues
<br />50,000
<br />50,000
<br />50,000
<br />50,000
<br />50,000
<br />Total
<br />36,693,000
<br />38,050,000
<br />40,750,000
<br />43,614,000
<br />46,063,000
<br />�:194�F9X-"
<br />Operating& Maintenance
<br />City Operating Expenses
<br />8,570,000
<br />8,827,000
<br />9,095,000
<br />9,373,000
<br />9,663,000
<br />SVCW Operating Expenses
<br />10,830,466
<br />11,232,486
<br />11,644,530
<br />12,095,049
<br />12,145,653
<br />Subtotal
<br />19,400,466
<br />20,059,486
<br />20,739,530
<br />21,468,049
<br />21,808,653
<br />Net Revenues
<br />17,292,534
<br />17,990,514
<br />20,010,470
<br />22,145,951
<br />24,254,347
<br />Debt Service
<br />Senior Debt Service
<br />City Share of SVCW 2009 Bonds (Net)
<br />2,189,509
<br />2,185,415
<br />1,482,626
<br />—
<br />-
<br />City Share of SVCW 2014 Bonds
<br />2,070,514
<br />2,071,587
<br />2,071,801
<br />2,072,874
<br />2,072,338
<br />City Share of SVCW 2015 Bonds
<br />1,016,300
<br />1,005,050
<br />1,567,650
<br />2,795,250
<br />2,789,000
<br />City Share of SVCW 2018 Bonds
<br />—
<br />4,559,729
<br />4,561,894
<br />4,559,769
<br />4,559,269
<br />City Share of Future SVCW Bonds
<br />—
<br />-
<br />1,004,204
<br />3,815,533
<br />6,830,960
<br />Total Senior Debt Service
<br />5,276,323
<br />9,821,781
<br />10,688,175
<br />13,243,426
<br />16,251,567
<br />Senior Debt Service Coverage
<br />3.28
<br />1.83
<br />1.87
<br />1.67
<br />1.49
<br />Subordinate Debt Service
<br />City Share of Outstanding SVCW SRF Loans
<br />1,315,327
<br />1,315,327
<br />2,056,569
<br />2,056,569
<br />2,056,569
<br />City Share of SVCW Line of Credit
<br />41,493
<br />—
<br />—
<br />—
<br />—
<br />Total Subordinate Debt Service
<br />1,356,819
<br />1,315,327
<br />2,056,569
<br />2,056,569
<br />2,056,569
<br />Total Combined Debt Service
<br />6,633,142
<br />11,137,107
<br />12,744,744
<br />15,299,995
<br />18,308,136
<br />Total Debt Service Coverage
<br />2.61
<br />1.62
<br />1.57
<br />1.45
<br />1.32
<br />Ca�'rtal & Other Non-0geratina
<br />City Capital Improvements
<br />6,700,000
<br />7,000,000
<br />7,000,000
<br />6,000,000
<br />7,000,000
<br />SVCW Pay -Go Capital Funding
<br />750,892
<br />765,910
<br />781,228
<br />796,853
<br />812,790
<br />SVCW SRF Reserve Contributions
<br />485,700
<br />485,700
<br />485,700
<br />728,550
<br />971,400
<br />Subtotal
<br />7,936,592
<br />8,251,610
<br />8,266,928
<br />7,525,403
<br />8,784,190
<br />Total Expenses
<br />33,970,201
<br />39,448,203
<br />41,751,202
<br />44,293,446
<br />48,900,979
<br />Revenues Less Expenses
<br />2,722,799
<br />(1,398,203)
<br />(1,001,202)
<br />(679,446)
<br />(2,837,979)
<br />Ending fund Reserve
<br />34,230,770
<br />32,832,567
<br />31,831,365
<br />31,151,919
<br />28,313,940
<br />Days Cash on Hand
<br />644
<br />597
<br />560
<br />530
<br />474
<br />Source: Bartle Wells Associates and the City of Redwood City
<br />A-19
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