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<br />Table 13 2004 Update
<br />Redwood City Water Financing Plan lo&M Cost Escalator 3.5%1
<br />Water Fund Cash Flow Projection
<br /> Budget Budget Projected
<br /> 2004/05 2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13 2013/14 2014/15
<br />Rate Adjustments 3.5% 12.0% 12.0% 12.0% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5% 6.5%
<br />Growth in customer base 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 -1.6% -1.0% 1.0% 1.0% 1.0% 1.1% 1.0% 0.7% 0.7% 0.7%
<br />Interest rate on investments 1.5% 2.0% 2.5% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
<br />Beginning Fund Balances $3,835,555 $11,179,000 $10,263,000 $9,973,000 $10,058,000 $10,198,000 $10,038,000 $9,840,000 $9,673,000 $9,690,000 $10,054,000
<br />Revenues
<br />Water meter charges 5,200,000 5,837,000 6,552,000 7,355,000 7,851,000 8,381,000 8,947,000 9,551,000 10,196,000 10,884,000 11,619,000
<br />Water sales charges 11,850,000 13,082,000 14,526,000 16,421,000 17,650,000 18,974,000 20,416,000 21,951,000 23,527,000 25,215,000 27,023,000
<br />Less recycled water discount 0 (10,000) (98,000) (247,000) (296,000) (374,000) (535,000) (630,000) (775,000) (937,000) (1,116,000)
<br />Facility fees 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000
<br />Connection fees 90,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000 120,000
<br />Interest income 55,340 168,000 205,000 249,000 302,000 306,000 301,000 295,000 290,000 291,000 302,000
<br />Interest on bond reserve funds 0 109,000 173,000 237,000 266,000 320,000 320,000 320,000 320,000 320,000 320,000
<br />Other 65.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000 45.000
<br />Total 17,510,340 19,601,000 21,773,000 24,430,000 26,188,000 28,022,000 29,864,000 31,902,000 33,973,000 36,188,000 38,563,000
<br />Expenses
<br />Employee costs 3,890,360 4,079,042 4,222,000 4,370,000 4,523,000 4,681,000 4,845,000 5,015,000 5,191,000 5,373,000 5,561,000
<br />Supplies and services 1,539,801 1,577,259 1,632,000 1,689,000 1,748,000 1,809,000 1,872,000 1,938,000 2,006,000 2,076,000 2,149,000
<br />SFPUC water purchases 6,927,785 6,927,785 7,401,000 8,057,000 8,883,000 9,673,000 11,153,000 12,767,000 14,236,000 15,673,000 17,078,000
<br />SBSA water purchases 0 0 297,000 352,000 374,000 405,000 460,000 493,000 540,000 588,000 640,000
<br />Internal services 3,112,144 3,202,071 3,314,000 3,430,000 3,550,000 3,674,000 3,803,000 3,936,000 4,074,000 4,217,000 4,365,000
<br />Less transfers for rev svcs dept (518,054) (543,957) (563,000) (583,000) (603,000) (624,000) (646,000) (669,000) (692,000) (716,000) (741,000)
<br />Minor operating capital outlay 14,775 25,150 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000 40,000
<br />S BSA lease 0 20,000 20,000 20,000 22,000 22,000 22,000 24,000 24,000 24,000 24,000
<br />Recycling project operating costs 0 50.000 200,000 300,000 311 ,000 322,000 333,000 345,000 357,000 369,000 382,000
<br />Subtotal operating 14,966,811 15,337,350 16,563,000 17,675,000 18,848,000 20,002,000 21,882,000 23,889,000 25,776,000 27,644,000 29,498,000
<br />Debt svc: 2005 bonds (gross) 0 2,280,000 2,280,000 2,280,000 2,280,000 2,280,000 2,280,000 2,280,000 2,280,000 2,280,000 2,280,000
<br />Debt svc: 2006 bonds (gross) 0 0 1,220,000 1,220,000 1,220,000 1,220,000 1,220,000 1,220,000 1,220,000 1,220,000 1,220,000
<br />Debt svc: 2007 bonds (gross) 0 0 0 1,170,000 1,170,000 1,170,000 1,170,000 1,170,000 1,170,000 1,170,000 1,170,000
<br />Debt svc: 2008 bonds (gross) 0 0 0 0 530,000 530,000 530,000 530,000 530,000 530,000 530,000
<br />Debt svc: 2009 bonds (gross) 0 0 0 0 0 980,000 980,000 980,000 980,000 980,000 980,000
<br />Capital/replacements 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 1,500,000 900,000 0 0 0 0 0 0 0 0 0
<br />Subtotal non-operating 3,500,000 5,180,000 5,500,000 6,670,000 7,200,000 8,180,000 8,180,000 8,180,000 8,180,000 8,180,000 8,180,000
<br />Total 18,466,811 20,517,350 22,063,000 24,345,000 26,048,000 28,182,000 30,062,000 32,069,000 33,956,000 35,824,000 37,678,000
<br />Reven ues less expenses (956,471) (916,350) (290,000) 85,000 140,000 (160,000) (198,000) (167,000) 17,000 364,000 885,000
<br />Bond reimb. for prior exps 8,300,000 0 0 0 0 0 0 0 0 0 0
<br />Ending Fund Balances 11,179,084 10,262,650 9,973,000 10,058,000 10,198,000 10,038,000 9,840,000 9,673,000 9,690,000 10,054,000 10,939,000
<br />Minimum Fund Rsrv Target 9,370,000 8,670,000 7,760,000 7,200,000 7,900,000 8,320,000 8,160,000 8,950,000 8,880,000 8,630,000 8,200,000
<br />Debt Service Coverage - 1.87 1.49 1.45 1.41 1.30 1.29 1.30 1.33 1.38 1.47
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<br />BARTLE WELLS ASSOCIA TES
<br />F:\Jobs\Redwood City\1921\ \Redwood City Tables 12-20-04\Cash Flows,12/21/2004,6:18 PM
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