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<br />Table 13 - $5M Grant With $5 Million Grant Awarded Jan-O6 2004 Update
<br />Redwood City Water Financing Plan IO&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% 11.5% 11.5% 11.5% 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 $10,177,000 $10,047,000 $10,166,000 $10,318,000 $10,146,000 $9,908,000 $9,672,000 $9,588,000 $9,816,000
<br />Revenues
<br />Water meter charges 5,200,000 5,811,000 6,494,000 7,257,000 7,747,000 8,270,000 8,828,000 9,424,000 10,060,000 10,739,000 11,464,000
<br />Water sales charges 11,850,000 13,022,000 14,394,000 16,200,000 17,412,000 18,718,000 20,141,000 21,656,000 23,211,000 24,876,000 26,660,000
<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 55,340 168,000 204,000 251,000 305,000 310,000 304,000 297,000 290,000 288,000 294,000
<br />Interest on bond reserve funds 0 109,000 154,000 218,000 247,000 301,000 301,000 301,000 301,000 301,000 301,000
<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 19,515,000 21,563,000 24,094,000 25,830,000 27,640,000 29,454,000 31,463,000 33,502,000 35,682,000 38,018,000
<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 O&M 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 0 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000 850,000
<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 5,130,000 6,300,000 6,830,000 7,810,000 7,810,000 7,810,000 7,810,000 7,810,000 7,810,000
<br />Total 18,466,811 20,517,350 21,693,000 23,975,000 25,678,000 27,812,000 29,692,000 31,699,000 33,586,000 35,454,000 37,308,000
<br />Reven ues less expenses (956,471) (1,002,350) (130,000) 119,000 152,000 (172,000) (238,000) (236,000) (84,000) 228,000 710,000
<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 10,176,650 10,047,000 10,166,000 10,318,000 10,146,000 9,908,000 9,672,000 9,588,000 9,816,000 10,526,000
<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 - 1.83 1.60 1.49 1.45 1.31 1.30 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 $SM, 12/21/2004,6:07 PM
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