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2020-01-27-D01_2 - Sewer Summary
CITY OF WAUKEE, IOWASewer 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$11.67 $12.02 $12.38 $12.75 $13.13 $13.53 $13.93Total Sewer Usage (3% Growth after 2020) 2395,675 407,545 419,771 432,364 445,335 458,695 472,456Average Monthly Bill (4,500 gallons) 3$52.37 $53.94 $55.55 $57.22 $58.94 $60.71 $62.53Average Change in Monthly Bill (4,500 gallons) 4$1.53 $1.57 $1.62 $1.67 $1.72 $1.77 $1.82Operating RevenuesSales to Customers5$4,617,484 $4,898,689 $5,197,019 $5,513,518 $5,849,291 $6,205,513 $6,583,428Miscellaneous Revenues67,5007,5007,5007,5007,5007,5007,500Total Operating Revenues 7$4,624,984 $4,906,189 $5,204,519 $5,521,018 $5,856,791 $6,213,013 $6,590,928Operating ExpensesPersonnel Services (4% Growth)8$798,708 $830,656 $863,883 $898,438 $934,375 $971,750 $1,010,620Contractual (5% Growth)9643,816 676,007 709,807 745,297 782,562 821,690 862,775WRA O&M10455,572 459,769 495,134 503,478 531,306 561,968 590,355Depreciation11873,997876,619879,249881,887884,532887,186889,848Total Operating Expense 12$2,772,093 $2,843,051 $2,948,072 $3,029,100 $3,132,776 $3,242,595 $3,353,598Net Operating Income 13$1,852,891 $2,063,138 $2,256,447 $2,491,917 $2,724,015 $2,970,418 $3,237,331Add: Depreciation14873,997 876,619 879,249 881,887 884,532 887,186 889,848Capacity Fees15290,730 400,000 100,000 100,000 100,000 100,000 100,000Connections Fees161,212,756 1,180,000 100,000 100,000 100,000 100,000 100,000Interest Income1726,96225,41617,62119,99714,28011,10314,081Net Revenue for Debt Service 18$4,257,337 $4,545,173 $3,353,317 $3,593,801 $3,822,828 $4,068,707 $4,341,259Total City Revenue Debt Service19$1,277,070 $1,427,320 $1,313,876 $1,307,916 $1,313,486 $1,276,440 $1,279,020Total WRA Debt (3% Flow Growth after 2022)20$881,814$897,951$1,042,257$1,156,010$1,290,561$1,423,070$1,540,624 Total Sewer Revenue Debt 21$2,158,884 $2,325,271 $2,356,133 $2,463,926 $2,604,047 $2,699,510 $2,819,644Debt Service Coverage- Revenue Debt Only221.97 1.95 1.42 1.46 1.47 1.51 1.54Total G.O. Bonds Paid by Sewer 23$96,640$96,080$0$0$0$0$0Total Sewer Debt 24$2,255,524 $2,421,351 $2,356,133 $2,463,926 $2,604,047 $2,699,510 $2,819,644Debt Service Coverage- All Debt251.89 1.88 1.42 1.46 1.47 1.51 1.54Prepared by PFM Financial Advisors LLC Page 1 of 21/20/2020 CITY OF WAUKEE, IOWASewer Enterprise FundBudgetBudgetProjected Projected Projected Projected ProjectedFY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 FY 2025-26Cashflow after Debt Service 26$2,001,813 $2,123,822 $997,184 $1,129,875 $1,218,781 $1,369,197 $1,521,616Capital Outlays (Detail Provided)27$2,051,774 $1,493,861 $82,500 $2,917,500 $86,000 $270,500 $90,500Cashflow after Capital Outlays 28($49,961)$629,961 $914,684($1,787,625)$1,132,781 $1,098,697 $1,431,116Misc Sources/Uses29000000 0WRA Miscellaneous30(130,070) (114,610) (113,727) (106,128) (108,818) (106,179) (104,302)WRF Surcharge31(534,137) (2,764,320)0000 0WRA Surcharge - Conveyance32000000 0Debt Proceeds330(355,000)00(2,075,000)00Debt Proceeds - SRF34000000 0Transfers (to)/from Restricted35198,8565,435(8,983)(11,677)(7,955)00Annual Surplus/ (Deficit) 36(515,313) (2,598,535)791,973(1,905,430) (1,058,993)992,518 1,326,813Beginning Cash Balance 37$8,987,423 $8,472,110 $5,873,576 $6,665,549 $4,760,119 $3,701,126 $4,693,643Ending Cash Balance 38$8,472,110 $5,873,576 $6,665,549 $4,760,119 $3,701,126 $4,693,643 $6,020,457Cash Balance as % of O & M39446% 299% 322% 222% 165% 199% 244%Capital Improvement ProjectsNorthwest Trunk Sewer Phase 4 (REV)40345,38500000 0SW Trunk Sewer Phase 2 (CASH)410 600,000 0 0 0 0 0Plant Demolition (CASH)42987,639 240,361 0 0 0 0 0Ashworth West Sewer Extension43300,000 162,500 0 0 0 0 0West Area Trunk Sewer Phase 2440 0 0 2,620,000 0 0 0Lift Station Rehabilitation (CASH)45318,75000000 0I&I Improvement Program460 180,000 0 180,000 0 180,000 0Other Capital Expenditures47100,000311,00082,500117,50086,00090,50090,500Total482,051,774 1,493,861 82,500 2,917,500 86,000 270,500 90,500SEWER REVENUE ADJUSTMENTS1-Jul-193.00%1-Jul-233.00%1-Jul-203.00%1-Jul-243.00%1-Jul-213.00%1-Jul-253.00%1-Jul-223.00%Prepared by PFM Financial Advisors LLC Page 2 of 21/20/2020