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2020-01-27-D01_3 - Gas Summary
CITY OF WAUKEE, IOWAGas Enterprise FundBudget Budget Projected Projected Projected Projected ProjectedFY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 FY 2025-26# of Small Volume Users (+350 per year) 17,398 7,748 8,098 8,448 8,798 9,148 9,498# of Large Volume Users (+5 per year) 252 57 62 67 72 77 82Average $$ Per < 100 CF- Small 3$0.1900 $0.1900 $0.1900 $0.1900 $0.1900 $0.1900 $0.1900Average $$ Per < 100 CF- Large 4$0.1450 $0.1450 $0.1450 $0.1450 $0.1450 $0.1450 $0.1450Average $$ Per < 100 CF- Standard 5 $0.8000 $0.9000 $0.9000 $0.9000 $0.9000 $0.9000 $0.9000Pipeline Ext. D/S Rate 6 $0.1500 $0.1500 $0.1500 $0.1500 $0.1500 $0.1500 $0.1500Gas Sold (100 Cubic Ft)Small Volume75,640,141 5,217,119 5,217,119 5,217,119 5,217,119 5,217,119 5,217,119Large Volume81,140,536921,965921,965921,965921,965921,965921,965Total Gas Usage96,780,677 6,139,084 6,139,084 6,139,084 6,139,084 6,139,084 6,139,084Operating RevenuesCharges for Services10$7,505,179 $7,533,651 $7,573,556 $7,613,461 $7,653,366 $7,693,271 $7,733,176Pipeline Extension D/S Revenues111,017,101 920,863 920,863920,863 920,863 920,863 920,863Miscellaneous Revenues1220,00020,00020,00020,00020,00020,00020,000Total Operating Revenues 13$8,542,281 $8,474,514 $8,514,419 $8,554,324 $8,594,229 $8,634,134 $8,674,039Cost per CF Unit 14 $0.55000 $0.57000 $0.59000 $0.61000 $0.63000 $0.65000 $0.67000Usage Purchased 15 6,780,677 6,139,084 6,139,084 6,139,084 6,139,084 6,139,084 6,139,084Operating Margin 16 50.30935% 53.55137% 52.17492% 50.81290% 49.46508%48.13124% 46.81117%Operating ExpensesPersonnel Services17$939,418 $976,995 $1,016,075 $1,056,718 $1,098,987 $1,142,946 $1,188,664Costs of Goods Sold183,729,372 3,499,278 3,622,059 3,744,841 3,867,623 3,990,404 4,113,186Black Hills Energy1934,692 34,692 34,692 34,692 34,692 34,692 34,692Contractual20730,977 767,526 805,902 846,197 888,507 932,933 979,579Meters21329,553 329,553 329,553 329,553 329,553 329,553 329,553Depreciation22396,254412,104428,588445,731463,561482,103501,387Total Operating Expense 23$6,160,266 $6,020,147 $6,236,869 $6,457,732 $6,682,922 $6,912,631 $7,147,061Net Operating Income 24$2,382,015 $2,454,367 $2,277,550 $2,096,592 $1,911,307 $1,721,503 $1,526,978Add: Depreciation25396,254 412,104 428,588 445,731 463,561 482,103 501,387Connection Fees2674,388 74,388 74,388 74,388 74,388 74,388 74,388Interest on Reserves2729,68327,67634,65231,28232,38132,58432,971Net Revenue for Debt Service 28$2,882,339 $2,968,534 $2,815,178 $2,647,993 $2,481,636 $2,310,579 $2,135,724Prepared by PFM Financial Advisors LLC Page 1 of 21/22/2020 CITY OF WAUKEE, IOWAGas Enterprise FundBudget Budget Projected Projected Projected Projected ProjectedFY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 FY 2025-26Total Gas Revenue DebtGas Revenue Bonds29$420,765 $0 $0 $0 $0 $0 $0Debt Service Coverage- Revenue Debt Only306.85N/AN/AN/AN/AN/AN/ATotal G.O. Debt Paid by GasTIF Revenue Bonds, Series 2010C31$112,054 $111,163 $0 $0 $0 $0 $0Debt Service Coverage- All Debt325.41 26.70N/AN/AN/AN/AN/ACashflow after Debt Service 33$2,349,521 $2,857,371 $2,815,178 $2,647,993 $2,481,636 $2,310,579 $2,135,724Capital Outlays34($1,365,155) ($1,117,500) ($4,026,228) ($2,001,500) ($1,954,500) ($1,959,000) ($1,952,250)Debt Proceeds35(807,000)000000Transfers (to)/from Restricted36(444,987) (809,699)761,729(500,000) (500,000) (300,000) (200,000)Annual Surplus/ (Deficit) 37($267,621)$930,172($449,321)$146,493 $27,136 $51,579($16,526)Beginning Cash 38$3,957,705 $3,690,084 $4,620,256 $4,170,934 $4,317,427 $4,344,564 $4,396,142Ending Cash 39$3,690,084 $4,620,256 $4,170,934 $4,317,427 $4,344,564 $4,396,142 $4,379,616Cash Balance as % of O & M4064% 82% 72% 72% 70% 68% 66%Restricted CashCustomer Deposits41$104,310 $104,310 $104,310 $104,310 $104,310 $104,310 $104,310Capital Fund42$952,030 1,761,729 1,000,000 1,500,000 2,000,000 2,300,000 2,500,000Capital Improvement ProjectsFacilities4380,000 80,000 80,000 80,000 80,000 80,000 80,000DRS/Main Construction44432,500 312,500 3,227,228 1,177,500 1,177,500 1,150,000 1,150,000Vehicles/Equipment45140,000 98,500 92,500 117,500 70,500 102,500 95,750Distribution System46617,500 617,500 617,500 617,500 617,500 617,500 617,500Misc.4795,1559,0009,0009,0009,0009,0009,000Total481,365,155 1,117,500 4,026,228 2,001,500 1,954,500 1,959,000 1,952,2501-Jul-190.00%1-Jul-230.00%1-Jul-200.00%1-Jul-240.00%1-Jul-210.00%1-Jul-250.00%1-Jul-220.00%GAS REVENUE ADJUSTMENTSPrepared by PFM Financial Advisors LLC Page 2 of 21/22/2020