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2020-01-27-D01_1 - Water Summary
CITY OF WAUKEE, IOWAWater Enterprise FundBudgetBudgetProjected Projected Projected Projected ProjectedFY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 FY 2025-26Average $$ Per < 1,000 gallons 1$9.51 $9.80 $10.09 $10.39 $10.71 $11.03 $11.36Regular Water Usage (3% Growth) 2410,061 422,363 435,033 448,084 461,527 475,373 489,634Irrigation Average $$ Per < 1,000 gallons 3$9.44 $9.69 $9.95 $10.22 $10.50 $10.78 $11.08Irrigation Water Usage495,562 95,562 95,562 95,562 95,562 95,562 95,562Average Monthly Bill (4,500 gallons) 5$41.96 $43.22 $44.52 $45.85 $47.23 $48.64 $50.10Average Change in Monthly Bill (4,500 gallons) 6$2.74 $1.26 $1.30 $1.34 $1.38 $1.42 $1.46Operating RevenuesSales to Customers7$3,900,621 $4,138,168 $4,390,183 $4,657,545 $4,941,189 $5,242,108 $5,561,352Irrigation Sales8902,102 926,298 951,221 976,890 1,003,330 1,030,563 1,058,613Penalties95,000 5,000 5,000 5,000 5,000 5,000 5,000Miscellaneous Revenues1021,50021,50021,50021,50021,50021,50021,500Total Operating Revenues 11$4,829,223 $5,090,967 $5,367,903 $5,660,935 $5,971,020 $6,299,171 $6,646,465Operating ExpensesPersonal Services (4% Growth)12$872,868 $907,783 $944,094 $981,858 $1,021,132 $1,061,977 $1,104,456Contractual (5% Growth)13398,763 418,701 439,636 461,618 484,699 508,934 534,381Meters14450,000 450,000 450,000 450,000 450,000 450,000 450,000DMWW Water Purchases151,279,928 1,343,845 1,514,394 1,706,808 1,923,913 2,168,903 2,445,387DMWW Other O & M Costs1673,500 77,175 81,034 85,085 89,340 93,807 98,497Depreciation17656,304662,867669,496676,191682,953689,782696,680Total Operating Expense 18$3,731,363 $3,860,371 $4,098,654 $4,361,560 $4,652,036 $4,973,403 $5,329,401Net Operating Income 19$1,097,860 $1,230,595 $1,269,249 $1,299,375 $1,318,983 $1,325,768 $1,317,064Add: Depreciation20656,304 662,867 669,496 676,191 682,953 689,782 696,680Capacity Fees21200,000 200,000 200,000 200,000 200,000 200,000 200,000Connection Fees22250,000 100,000 100,000 100,000 100,000 100,000 100,000Rental Income2371,000 71,000 71,000 71,000 71,000 71,000 71,000Interest Income2480,00054,23748,11147,04750,65250,97355,454Net Revenue for Debt Service 25$2,355,164 $2,318,699 $2,357,856 $2,393,612 $2,423,588 $2,437,523 $2,440,199Prepared by PFM Financial Advisors LLC Page 1 of 21/17/2020 CITY OF WAUKEE, IOWAWater Enterprise FundBudgetBudgetProjected Projected Projected Projected ProjectedFY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 FY 2025-26Total Water Revenue Debt 26$697,827 $525,638 $715,188 $711,568 $703,508 $699,138 $695,328Debt Service Coverage- Revenue Debt Only273.37 4.41 3.30 3.36 3.45 3.49 3.51Total G.O. Debt Paid by Water 28$229,728 $232,168 $134,088 $136,988 $134,513 $136,763 $133,888Debt Service Coverage- All Debt292.54 3.06 2.78 2.82 2.89 2.92 2.94Cashflow After Debt Service 30$1,427,609 $1,560,894 $1,508,581 $1,545,057 $1,585,568 $1,601,623 $1,610,984Capital Outlays (Additional Detail Provided)31$1,420,000$4,673,500$1,115,000$684,500$1,053,500$653,500$1,053,500Cashflow after Capital Outlays32$7,609($3,112,606)$393,581 $860,557 $532,068 $948,123 $557,484Miscellaneous Sources & Uses33($1,780,000)$0 $0 $0 $0 $0 $0Bond Proceeds342,169,829 3,000,00000000Transfers (Out)/In to Other Funds35(591,526)(500,000)(500,000)(500,000)(500,000)(500,000)(500,000)Annual Surplus/(Deficit) 36($194,087) ($612,606) ($106,419)$360,557 $32,068 $448,123 $57,484Beginning Cash Balance37$4,700,432 $4,506,345 $3,893,739 $3,787,320 $4,147,878 $4,179,946 $4,628,069Ending Cash Balance38$4,506,345 $3,893,739 $3,787,320 $4,147,878 $4,179,946 $4,628,069 $4,685,553Cash Balance as % of O & M39147% 122% 110% 113% 105% 108% 101%Restricted/Designated CashCapacity Fees400000000Sinking Fund4145,047 45,047 45,047 45,047 45,047 45,047 45,047Debt Service Reserve Fund42710,390 710,390 710,390 710,390 710,390 710,390 710,390Customer Deposits43161,922 161,922 161,922 161,922 161,922 161,922 161,922Des Moines Water Works DSRF440000000Tower Reserve Fund452,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 5,000,000Capital Improvement ProjectsXenia Chloramination Facility46175,000000000Northwest Watermain Ext - Phase 2 (16")47100,000000000ASR Well 480 4,500,00000000Transite Water Main - Phase 149855,000 0 450,000 0 400,000 0 400,000Distribution System500 75,000 75,000 75,000 75,000 75,000 75,000Vehicle or Equipment Purchase5195,000 98,500 90,000 109,500 78,500 78,500 78,500LP Moon Pump Station Improvements52150,000000000Miscellaneous5345,0000500,000500,000500,000500,000500,000Total541,420,000 4,673,500 1,115,000 684,500 1,053,500 653,500 1,053,5001-Jul-197.00%1-Jul-233.00%1-Jul-203.00%1-Jul-243.00%1-Jul-213.00%1-Jul-253.00%1-Jul-223.00%WATER REVENUE ADJUSTMENTSPrepared by PFM Financial Advisors LLC Page 2 of 21/17/2020