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6.n. 2023 Utility Rates
EXECUTIVE SUMMARY City Council Regular Meeting: December 20, 2022 AGENDA ITEM: 2023 Utility Rates AGENDA SECTION: Consent PREPARED BY: Teah Malecha, Finance Director AGENDA NO. 6.n. ATTACHMENTS: Rate Models, Sample Bills APPROVED BY: LJM RECOMMENDED ACTION: Motion to approve the rate changes for the Water Fund, Sewer Fund, Storm Water Fund and Street Light Fund for 2023 BACKGROUND Staff has completed the annual review of the rates for the Water, Sewer, Storm Water and Street Light Utility Funds. The rates were reviewed with the Utility Commission and recommended for approval at their November 28, 2022 meeting. The rate changes were included in the enterprise budgets approved at the December 7, 2022 City Council meeting. The rates are also a part of the fee schedule for this evening. Water Utility Rates Staff has reviewed and updated the Water Funds based upon actual revenues and expenditures for 2021 along with anticipated growth for future years. There are several potential projects that have been included. Based on this review, staff is proposing a rate increase of 5 percent. The attached water rate model includes the following items of note: • LINES 10-19: Usage rates will increase 5 percent to make up the difference in revenue. Future rate increases are expected to be 5 percent at this time. • LINES 20-23: Includes 5 percent annual increase to surcharge which began in 2017 to increase revenue in the Capital Investment Fund (had not been adjusted for many years prior to that). The CIF is programmed to contribute 20 percent towards the annual debt service beginning in 2022. • LINES 24-26: Includes 5 percent annual increase to the meter maintenance fee. Ideally, revenue from meter maintenance fees (Lines 38-41) should offset the cost of meter replacements (LINE 49). • LINE 55: Includes water tower painting, new generators, etc. as scheduled in the Long-Term Plan. • LINE 56: Reflects planned utility equipment purchases to match the Capital Improvement Plan (CIP). • LINE 62: Starting in 2024, water treatment plant costs will be shared 75 percent from Utility fund, 25 percent from Core/CIF funds. • LINE 63: Starting in 2023, Public Works/Police facility costs will be shared between Water Fund, Sewer Fund, Storm Water Fund and General Fund. • LINE 91: Includes Water Core Fund contributions to street project including: Jay Simons Addition, 2 Akron Avenue Extension, Boulder Avenue Extension, and Blaine Avenue. • LINE 92: Starting in 2023, includes debt for Well 16, Well 17, and CSAH 24 and Blaine Avenue trunk watermain relocation. The contribution for the water treatment plant begins in 2024. This model shows the fund balances beginning to decline in 2024. Developer agreement revenue is conservatively estimated and anticipated to be higher than input on the model given the current trajectory. The project and debt payments are all estimates and subject to change dependent on current potential projects. Sewer Utility Rates Staff has reviewed and updated the Sewer Utility Fund based upon actual revenues and expenditures for 2021 along with anticipated growth for future years. Based on this review, staff is proposing a rate increase of 6 percent. The attached sewer rate model includes the following items of note: • LINE 12: The 2023 rate has been increased 6 percent to maintain revenue as the result of eliminating the fixed rate and shifting to a winter quarter billing model. Future rate increases are expected to be 6 percent through 2024 and then 4 percent or less for the next 10+ years. • LINE 23: Includes funding in 2023 for SCADA upgrades. • LINE 25: MCES billing increased 5 percent from 2022 which is a decline from the 17.9 percent increase from 2021 to 2022. • LINE 28: Includes new generators, jetter, etc. as scheduled in the Long-Term Plan. • LINE 30: Reflects planned utility expenditures to match the Capital Improvement Plan (CIP). • LINE 31: Starting in 2023, Public Works/Police facility costs will be shared between Water Fund, Sewer Fund, Storm Water Fund and General Fund. The year-end balance is projected to be the lowest in 2024 at $975,184, but then increasing to roughly $4.7 million by 2033. Storm Water Utility Rates Staff has reviewed and updated the Storm Water Fund based upon actual revenues and expenditures for 2021 along with anticipated growth for future years. Based on this review, staff is proposing a rate increase of 5 percent. The attached storm water rate model includes the following items of note: • LINES 13-18: The rates have been increased 5 percent to maintain revenue. Future rate increases are expected to be 5 percent at this time. • LINE 42: Starting in 2023, Public Works/Police facility costs will be shared between Water Fund, Sewer Fund, Storm Water Fund and General Fund. Staff continues to develop a robust storm water system maintenance plan to identify high-priority storm water improvement projects. With a projected year-end balance of $5.3 million, there is enough funding at this time to begin these projects, but rates may need to be adjusted in the future depending on the timing and the cost of the projects that are identified in the plan. There is currently $200,000 per year in Line 35 dedicated to these improvements (starting in 2020). Street Light Utility Rates 3 As part of the 2020 budgets, Council added the Street Light Utility Fund. This enterprise fund has been examined as part of future rate models and corrected as historical data is added. The rates have not been increased since the inception of this fund. Staff is recommending a 5 percent increase beginning in 2023 and continuing through the next few years. This fund pays for electric utility costs throughout the City and costs have continued to rise. The fund balance is projected to decline until 2026. At this time, there is not funding available to contribute to any street light related project expenditures. Utility Bills The rate increases to the Water, Sewer, Storm Water, and Street Light Utility Funds will result in an overall increase of 5.6 percent to the average residential customer. The table below shows the impact to each customer category. Utility Bill Comparison Summary Total Utility Bill Charges 2020 Actual 2021 Actual 2022 Budget 2023 Proposed Average Change 2022 to 2023 Quarterly 2022 to 2023 Low User $317.96 $288.56 $297.76 $314.16 $16.40 5.5% Average User $531.28 $511.56 $533.12 $562.88 $29.76 5.6% High User $786.16 $778.62 $814.27 $858.73 $44.46 5.5% Com / Ind / Inst Average User $2,861.32 $2,926.62 $3,070.72 $3,241.84 $171.12 5.6% RECOMMENDATION Staff recommends approval of the rate changes for the Water Fund, Sewer Fund, Storm Water Fund, and Street Light Fund for 2023. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 AB FGHIJKLMNOPQR Water Rate Analysis Rate Increase 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% Description 2021 Actual 2022 Proposed 2023 Budget 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Water Demand (MG)1,117.021 962.542 986.605 1,011.271 1,036.552 1,062.466 1,089.028 1,116.254 1,144.160 1,172.764 1,202.083 1,232.135 1,262.938 Estimated Growth 3.2% 2.0%2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% Residential Accounts (excluding association irrigation)7,510 7,666 7,858 8,054 8,255 8,462 8,673 8,890 9,112 9,340 9,574 9,813 10,058 Commercial Accounts (excluding irrigation)127 128 131 134 138 141 145 148 152 156 160 164 168 Institutional / Industrial Accounts (excluding irrigation)47 46 47 48 50 51 52 53 55 56 57 59 60 Irrigation-only Accounts (excluding single family)159 158 162 166 170 174 179 183 188 193 197 202 207 Water Fixed Charge ($/account/quarter)-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Residential Tier 1 (0 - 12,000 gal)1.62$ 1.70$ 1.79$ 1.88$ 1.97$ 2.07$ 2.17$ 2.28$ 2.40$ 2.52$ 2.64$ 2.77$ 2.91$ Residential Tier 2 (13,000 - 24,000 gal)2.03$ 2.13$ 2.24$ 2.35$ 2.46$ 2.59$ 2.72$ 2.85$ 3.00$ 3.15$ 3.30$ 3.47$ 3.64$ Residential Tier 3 (25,000 - 48,000 gal)2.53$ 2.66$ 2.79$ 2.93$ 3.08$ 3.23$ 3.40$ 3.57$ 3.74$ 3.93$ 4.13$ 4.33$ 4.55$ Residential Tier 4 (> 48,000 gal)3.80$ 3.99$ 4.19$ 4.40$ 4.62$ 4.85$ 5.09$ 5.35$ 5.62$ 5.90$ 6.19$ 6.50$ 6.83$ Irrigation Meters (Multi Fam / Comm / Ind / Inst) 3.80$ 3.99$ 4.19$ 4.40$ 4.62$ 4.85$ 5.09$ 5.35$ 5.62$ 5.90$ 6.19$ 6.50$ 6.83$ Comm / Ind / Inst Tier 1 (0 - 80,000 gal)1.88$ 1.98$ 2.07$ 2.18$ 2.29$ 2.40$ 2.52$ 2.65$ 2.78$ 2.92$ 3.06$ 3.22$ 3.38$ Comm / Ind / Inst Tier 2 (81,000 - 160,000 gal) 2.35$ 2.47$ 2.59$ 2.72$ 2.86$ 3.00$ 3.15$ 3.31$ 3.47$ 3.65$ 3.83$ 4.02$ 4.22$ Comm / Ind / Inst Tier 3 (161,000 - 250,000 gal) 2.94$ 3.09$ 3.24$ 3.40$ 3.57$ 3.75$ 3.94$ 4.14$ 4.34$ 4.56$ 4.79$ 5.03$ 5.28$ Comm / Ind / Inst Tier 4 ( > 250,000 gal) 3.80$ 3.99$ 4.19$ 4.40$ 4.62$ 4.85$ 5.09$ 5.35$ 5.62$ 5.90$ 6.19$ 6.50$ 6.83$ Surcharge - Single Family 3/4" ($/account) 9.02$ 9.06$ 9.52$ 9.99$ 10.49$ 11.02$ 11.57$ 12.15$ 12.75$ 13.39$ 14.06$ 14.76$ 15.50$ Surcharge - Multi Family 3/4" ($/account) 6.97$ 7.00$ 7.35$ 7.72$ 8.11$ 8.51$ 8.94$ 9.38$ 9.85$ 10.35$ 10.86$ 11.41$ 11.98$ Surcharge - 1" ($/account)13.84$ 13.91$ 14.61$ 15.34$ 16.11$ 16.91$ 17.76$ 18.64$ 19.58$ 20.56$ 21.58$ 22.66$ 23.80$ Surcharge - 1.5" ($/account)28.71$ 28.85$ 30.29$ 31.81$ 33.40$ 35.07$ 36.82$ 38.66$ 40.60$ 42.63$ 44.76$ 46.99$ 49.34$ Meter Maintenance - 3/4" ($/meter/quarter) 1.21$ 1.27$ 1.33$ 1.40$ 1.47$ 1.54$ 1.62$ 1.70$ 1.78$ 1.87$ 1.97$ 2.07$ 2.17$ Meter Maintenance - 1" ($/meter/quarter) 6.41$ 6.44$ 6.76$ 7.10$ 7.45$ 7.83$ 8.22$ 8.63$ 9.06$ 9.51$ 9.99$ 10.49$ 11.01$ Meter Maintenance - 1.5" ($/meter/quarter) 11.54$ 11.60$ 12.18$ 12.78$ 13.42$ 14.09$ 14.80$ 15.54$ 16.32$ 17.13$ 17.99$ 18.89$ 19.83$ 601 49400 Water Utility Fund Beginning Balance 9,662,777.20$ 11,049,502.86$ 11,930,011.51$ 12,174,588.53$ 9,863,602.16$ 7,541,256.46$ 5,206,209.48$ 2,857,074.81$ 492,523.27$ (1,889,015.31)$ (4,289,050.32)$ (6,709,328.53)$ (9,151,732.15)$ Calculated Fixed Charges -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Residential Tier 1 (0 - 12,000 gal)224,490.00$ 230,102.25$ 235,854.81$ 241,751.18$ 247,794.96$ 253,989.83$ 260,339.58$ 266,848.07$ 273,519.27$ 280,357.25$ 287,366.18$ 294,550.34$ Residential Tier 2 (13,000 - 24,000 gal)290,873.89$ 298,145.74$ 305,599.38$ 313,239.36$ 321,070.35$ 329,097.11$ 337,324.53$ 345,757.65$ 354,401.59$ 363,261.63$ 372,343.17$ 381,651.75$ Residential Tier 3 (25,000 - 48,000 gal)268,677.84$ 275,394.78$ 282,279.65$ 289,336.64$ 296,570.06$ 303,984.31$ 311,583.92$ 319,373.52$ 327,357.86$ 335,541.80$ 343,930.35$ 352,528.61$ Residential Tier 4 (> 48,000 gal)606,786.59$ 621,956.25$ 637,505.16$ 653,442.79$ 669,778.86$ 686,523.33$ 703,686.41$ 721,278.57$ 739,310.54$ 757,793.30$ 776,738.13$ 796,156.59$ Irrigation Meters (Multi Fam / Comm / Ind / Inst)498,909.24$ 511,381.97$ 524,166.52$ 537,270.69$ 550,702.45$ 564,470.02$ 578,581.77$ 593,046.31$ 607,872.47$ 623,069.28$ 638,646.01$ 654,612.16$ Comm / Ind / Inst Tier 1 (0 - 80,000 gal)11,859.19$ 12,155.67$ 12,459.57$ 12,771.05$ 13,090.33$ 13,417.59$ 13,753.03$ 14,096.85$ 14,449.28$ 14,810.51$ 15,180.77$ 15,560.29$ Comm / Ind / Inst Tier 2 (81,000 - 160,000 gal)4,903.58$ 5,026.17$ 5,151.82$ 5,280.62$ 5,412.63$ 5,547.95$ 5,686.65$ 5,828.81$ 5,974.53$ 6,123.90$ 6,276.99$ 6,433.92$ Comm / Ind / Inst Tier 3 (161,000 - 250,000 gal)5,125.24$ 5,253.37$ 5,384.71$ 5,519.33$ 5,657.31$ 5,798.74$ 5,943.71$ 6,092.30$ 6,244.61$ 6,400.73$ 6,560.74$ 6,724.76$ Comm / Ind / Inst Tier 4 ( > 250,000 gal)200,178.35$ 205,182.80$ 210,312.37$ 215,570.18$ 220,959.44$ 226,483.42$ 232,145.51$ 237,949.15$ 243,897.88$ 249,995.32$ 256,245.21$ 262,651.34$ Meter Maintenance Revenue - 3/4"34,694.13$ 37,339.56$ 39,206.54$ 41,166.86$ 43,225.21$ 45,386.47$ 47,655.79$ 50,038.58$ 52,540.51$ 55,167.53$ 57,925.91$ 60,822.21$ Meter Maintenance Revenue - 1"21,607.87$ 23,255.47$ 24,418.24$ 25,639.15$ 26,921.11$ 28,267.17$ 29,680.52$ 31,164.55$ 32,722.78$ 34,358.92$ 36,076.86$ 37,880.71$ Meter Maintenance Revenue - 1.5"11,039.00$ 11,880.73$ 12,474.76$ 13,098.50$ 13,753.43$ 14,441.10$ 15,163.15$ 15,921.31$ 16,717.38$ 17,553.25$ 18,430.91$ 19,352.45$ Meter Maintenance Revenue - All Other Sizes 14,875.72$ 15,247.61$ 15,628.80$ 16,019.52$ 16,420.01$ 16,830.51$ 17,251.27$ 17,682.56$ 18,124.62$ 18,577.74$ 19,042.18$ 19,518.23$ Misc Water Revenues (antenna rents & royalties 601-36220.00) 167,372.65$ 172,393.83$ 177,565.64$ 182,892.61$ 188,379.39$ 194,030.77$ 199,851.70$ 205,847.25$ 212,022.67$ 218,383.35$ 224,934.85$ 231,682.89$ 238,633.38$ Misc Water Revenues (interest 601-36210.00) 70,031.54$ 72,132.49$ 74,296.46$ 76,525.35$ 78,821.12$ 81,185.75$ 83,621.32$ 86,129.96$ 88,713.86$ 91,375.28$ 94,116.53$ 96,940.03$ 99,848.23$ Misc Water Revenues (new meter sales 601-37180.00) 140,156.98$ 144,361.69$ 148,692.54$ 153,153.32$ 157,747.92$ 162,480.35$ 167,354.76$ 172,375.41$ 177,546.67$ 182,873.07$ 188,359.26$ 194,010.04$ 199,830.34$ Total Usage Revenue (excluding surcharge) 4,727,975.18$ 2,582,908.65$ 2,652,877.03$ 2,723,013.62$ 2,795,054.31$ 2,869,053.02$ 2,945,065.32$ 3,023,148.46$ 3,103,361.42$ 3,185,764.99$ 3,270,421.79$ 3,357,396.38$ 3,446,755.29$ 100's - Salaries & Benefits (4%) (add FTE in 2021, 2022) 499,656.84$ 589,900.00$ 613,500.00$ 638,100.00$ 663,700.00$ 690,300.00$ 718,000.00$ 746,800.00$ 776,700.00$ 807,800.00$ 840,200.00$ 873,900.00$ 908,900.00$ 200's - Office Materials and Supplies 42,174.83$ 48,600.00$ 50,600.00$ 52,700.00$ 54,900.00$ 57,100.00$ 59,400.00$ 61,800.00$ 64,300.00$ 66,900.00$ 69,600.00$ 72,400.00$ 75,300.00$ 216.00 - Chemicals (subject to growth and price increases) 71,560.94$ 75,000.00$ 78,000.00$ 81,200.00$ 84,500.00$ 87,900.00$ 91,500.00$ 95,200.00$ 99,100.00$ 103,100.00$ 107,300.00$ 111,600.00$ 116,100.00$ 220.01 - Water Meter Purchases (replacements) 56,774.20$ 77,300.00$ 80,400.00$ 83,700.00$ 87,100.00$ 90,600.00$ 94,300.00$ 98,100.00$ 102,100.00$ 106,200.00$ 110,500.00$ 115,000.00$ 119,600.00$ 220.02 - Water Meter Purchases (new homes) 31,915.38$ 78,000.00$ 81,200.00$ 84,500.00$ 87,900.00$ 91,500.00$ 95,200.00$ 99,100.00$ 103,100.00$ 107,300.00$ 111,600.00$ 116,100.00$ 120,800.00$ 300's - GIS, Legal, Office, Computer, Eng, Prof Svcs 370,280.92$ 222,300.00$ 231,200.00$ 240,500.00$ 250,200.00$ 260,300.00$ 270,800.00$ 281,700.00$ 293,000.00$ 304,800.00$ 317,000.00$ 329,700.00$ 342,900.00$ 400's - Training, Conferences, Contracted Repair 61,307.94$ 112,200.00$ 116,700.00$ 121,400.00$ 126,300.00$ 131,400.00$ 136,700.00$ 142,200.00$ 147,900.00$ 153,900.00$ 160,100.00$ 166,600.00$ 173,300.00$ 500's - Buildings, Office Equip, Furniture, Misc Improvements 13,995.84$ 51,500.00$ 53,600.00$ 55,800.00$ 58,100.00$ 60,500.00$ 63,000.00$ 65,600.00$ 68,300.00$ 71,100.00$ 74,000.00$ 77,000.00$ 80,100.00$ 530.03 - CRP of Water Main -$ 50,000.00$ 52,000.00$ 54,100.00$ 56,300.00$ 58,600.00$ 61,000.00$ 63,500.00$ 66,100.00$ 68,800.00$ 71,600.00$ 74,500.00$ 77,500.00$ 530.04 - Well and Tower Maintenance (long-term schedule) 4,243.34$ 100,000.00$ 104,000.00$ 108,200.00$ 112,600.00$ 117,200.00$ 121,900.00$ 126,800.00$ 131,900.00$ 137,200.00$ 142,700.00$ 148,500.00$ 154,500.00$ 540, 548, 550, 580 - Equipment Purchase & Lease (from CIP) 241.97$ 16,800.00$ 235,000.00$ 75,000.00$ 78,000.00$ 81,200.00$ 84,500.00$ 87,900.00$ 91,500.00$ 95,200.00$ 99,100.00$ 103,100.00$ 107,300.00$ 611.00 - Interest 1,530.81$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 710.00 - Transfers for Other Improvements 202,168.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Operating Expenses: 1,355,851.01$ 1,421,600.00$ 1,696,200.00$ 1,595,200.00$ 1,659,600.00$ 1,726,600.00$ 1,796,300.00$ 1,868,700.00$ 1,944,000.00$ 2,022,300.00$ 2,103,700.00$ 2,188,400.00$ 2,276,300.00$ Well and Tower Expenses (combined) 354,648.86$ 280,800.00$ 292,100.00$ 303,800.00$ 316,000.00$ 328,700.00$ 341,900.00$ 355,600.00$ 369,900.00$ 384,700.00$ 400,100.00$ 416,200.00$ 432,900.00$ WTP Operating Expenses 225,000.00$ 231,800.00$ 238,800.00$ 246,000.00$ 253,400.00$ 261,000.00$ 268,800.00$ 276,900.00$ 285,200.00$ 293,800.00$ WTP Debt $35M+ 15 years @ 5.0% (75% share of $3,320,000)2,490,000.00$ 2,490,000.00$ 2,490,000.00$ 2,490,000.00$ 2,490,000.00$ 2,490,000.00$ 2,490,000.00$ 2,490,000.00$ 2,490,000.00$ 2,490,000.00$ PW/PD Facility ($55M-$59M) 25% Share of PW Facility 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ Total Expenses 1,710,499.87$ 1,702,400.00$ 2,408,300.00$ 5,034,000.00$ 5,117,400.00$ 5,204,100.00$ 5,294,200.00$ 5,387,700.00$ 5,484,900.00$ 5,585,800.00$ 5,690,700.00$ 5,799,800.00$ 5,913,000.00$ 421.00 - Depreciation Expense 886,316.96$ Change in Assets/Liabilities (744,432.69)$ Year End Balance (before debt service) 11,049,502.86$ 11,930,011.51$ 12,174,588.53$ 9,863,602.16$ 7,541,256.46$ 5,206,209.48$ 2,857,074.81$ 492,523.27$ (1,889,015.31)$ (4,289,050.32)$ (6,709,328.53)$ (9,151,732.15)$ (11,617,976.86)$ Balance change amount 1,386,725.66$ 880,508.65$ 244,577.03$ (2,310,986.38)$ (2,322,345.69)$ (2,335,046.98)$ (2,349,134.68)$ (2,364,551.54)$ (2,381,538.58)$ (2,400,035.01)$ (2,420,278.21)$ (2,442,403.62)$ (2,466,244.71)$ Balance change %14.35% 7.97% 2.05% -18.98% -23.54% -30.96% -45.12% -82.76% -483.54% -127.05% -56.43% -36.40% -26.95% 3,017,475.31$ 880,508.65$ 244,577.03$ (2,310,986.38)$ (2,322,345.69)$ (2,335,046.98)$ (2,349,134.68)$ (2,364,551.54)$ (2,381,538.58)$ (2,400,035.01)$ (2,420,278.21)$ (2,442,403.62)$ (2,466,244.71)$ Projected Demands and Connections Proposed Rates and Fixed Charges Revenue Expenses 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 AB FGHIJKLMNOPQR Debt Service Impact Description 2021 Actual 2022 Proposed 2023 Budget 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Capital Investment Fund Beginning Balance 1,789,564.04$ 2,129,288.27$ 2,455,014.65$ 2,701,112.54$ 2,710,452.33$ 2,746,828.61$ 2,827,169.52$ 2,973,546.94$ 3,153,187.27$ 3,368,483.18$ 3,622,006.21$ 3,916,520.28$ 4,254,996.30$ Surcharge Revenue 3/4" - Single Family (98%) 272,356.32$ 293,123.49$ 315,474.15$ 339,529.06$ 365,418.15$ 393,281.28$ 423,268.98$ 455,543.24$ 490,278.41$ 527,662.14$ 567,896.38$ 611,198.48$ Surcharge Revenue 3/4" - Multi Family (2%) 4,294.47$ 4,621.93$ 4,974.35$ 5,353.64$ 5,761.86$ 6,201.20$ 6,674.04$ 7,182.94$ 7,730.63$ 8,320.10$ 8,954.50$ 9,637.28$ Surcharge Revenue - 1" 46,690.89$ 47,858.16$ 49,054.61$ 50,280.98$ 51,538.00$ 52,826.45$ 54,147.11$ 55,500.79$ 56,888.31$ 58,310.52$ 59,768.28$ 61,262.49$ Surcharge Revenue - 1.5" 27,465.74$ 28,152.39$ 28,856.20$ 29,577.60$ 30,317.04$ 31,074.97$ 31,851.84$ 32,648.14$ 33,464.34$ 34,300.95$ 35,158.47$ 36,037.43$ Surcharge Revenue - All Other Sizes 24,918.96$ 25,541.93$ 26,180.48$ 26,834.99$ 27,505.87$ 28,193.52$ 28,898.35$ 29,620.81$ 30,361.33$ 31,120.37$ 31,898.38$ 32,695.83$ Total Water Surcharge Revenue 344,754.34$ 375,726.38$ 399,297.89$ 424,539.79$ 451,576.27$ 480,540.92$ 511,577.42$ 544,840.33$ 580,495.92$ 618,723.03$ 659,714.07$ 703,676.01$ 750,831.52$ Expenses - Operating Net Operating Income 344,754.34$ 375,726.38$ 399,297.89$ 424,539.79$ 451,576.27$ 480,540.92$ 511,577.42$ 544,840.33$ 580,495.92$ 618,723.03$ 659,714.07$ 703,676.01$ 750,831.52$ CIF Contribution to Debt or Other Projects (20% in 2018+) 50,000.00$ 153,200.00$ 415,200.00$ 415,200.00$ 400,200.00$ 365,200.00$ 365,200.00$ 365,200.00$ 365,200.00$ 365,200.00$ 365,200.00$ 262,000.00$ Change in Investments (5,030.11)$ Capital Investment Fund Year End Balance 2,129,288.27$ 2,455,014.65$ 2,701,112.54$ 2,710,452.33$ 2,746,828.61$ 2,827,169.52$ 2,973,546.94$ 3,153,187.27$ 3,368,483.18$ 3,622,006.21$ 3,916,520.28$ 4,254,996.30$ 4,743,827.82$ Water Core Fund Beginning Balance 2,683,691.58$ 4,037,258.50$ 4,467,843.21$ 2,830,491.62$ 2,110,359.28$ 1,405,810.01$ 777,216.02$ 304,958.18$ (150,573.90)$ (588,981.56)$ (1,009,856.99)$ (1,412,782.99)$ (1,797,332.77)$ Developer Agreements ($6500/ac) 300,000.00$ 300,000.00$ 300,000.00$ 300,000.00$ 300,000.00$ 300,000.00$ 300,000.00$ 300,000.00$ 300,000.00$ 300,000.00$ 300,000.00$ 300,000.00$ New Connections (3/4-inch and 1-inch included) 1,741,360.40$ 637,312.50$ 653,245.31$ 669,576.45$ 686,315.86$ 703,473.75$ 721,060.60$ 739,087.11$ 757,564.29$ 776,503.40$ 795,915.98$ 815,813.88$ 836,209.23$ Total Revenues 1,741,360.40$ 937,312.50$ 953,245.31$ 969,576.45$ 986,315.86$ 1,003,473.75$ 1,021,060.60$ 1,039,087.11$ 1,057,564.29$ 1,076,503.40$ 1,095,915.98$ 1,115,813.88$ 1,136,209.23$ Expenses - Operatings 25,699.80$ 26,727.79$ 27,796.90$ 28,908.78$ 30,065.13$ 31,267.74$ 32,518.45$ 33,819.18$ 35,171.95$ 36,578.83$ 38,041.98$ 39,563.66$ 41,146.21$ Net Operating Income 1,715,660.60$ 910,584.71$ 925,448.41$ 940,667.67$ 956,250.73$ 972,206.02$ 988,542.15$ 1,005,267.93$ 1,022,392.34$ 1,039,924.57$ 1,057,874.00$ 1,076,250.22$ 1,095,063.02$ Core Contribution to Debt or Other Projects (80% in 2018+) 390,071.89$ 480,000.00$ 2,562,800.00$ 1,660,800.00$ 1,660,800.00$ 1,600,800.00$ 1,460,800.00$ 1,460,800.00$ 1,460,800.00$ 1,460,800.00$ 1,460,800.00$ 1,460,800.00$ 1,048,000.00$ Change in Investments 27,978.21$ Water Core Fund Year End Balance 4,037,258.50$ 4,467,843.21$ 2,830,491.62$ 2,110,359.28$ 1,405,810.01$ 777,216.02$ 304,958.18$ (150,573.90)$ (588,981.56)$ (1,009,856.99)$ (1,412,782.99)$ (1,797,332.77)$ (1,750,269.75)$ Debt Service Estimated Debt Service *250,000.00$ 766,000.00$ 2,076,000.00$ 2,076,000.00$ 2,001,000.00$ 1,826,000.00$ 1,826,000.00$ 1,826,000.00$ 1,826,000.00$ 1,826,000.00$ 1,826,000.00$ 1,310,000.00$ Capital Investment Fund Year End Balance 2,129,288.27$ 2,455,014.65$ 2,701,112.54$ 2,710,452.33$ 2,746,828.61$ 2,827,169.52$ 2,973,546.94$ 3,153,187.27$ 3,368,483.18$ 3,622,006.21$ 3,916,520.28$ 4,254,996.30$ 4,743,827.82$ Water Core Fund Year End Balance 4,037,258.50$ 4,467,843.21$ 2,830,491.62$ 2,110,359.28$ 1,405,810.01$ 777,216.02$ 304,958.18$ (150,573.90)$ (588,981.56)$ (1,009,856.99)$ (1,412,782.99)$ (1,797,332.77)$ (1,750,269.75)$ Water Utility Fund Year End Balance 11,049,502.86$ 11,930,011.51$ 12,174,588.53$ 9,863,602.16$ 7,541,256.46$ 5,206,209.48$ 2,857,074.81$ 492,523.27$ (1,889,015.31)$ (4,289,050.32)$ (6,709,328.53)$ (9,151,732.15)$ (11,617,976.86)$ 17,216,049.63$ 18,852,869.36$ 17,706,192.69$ 14,684,413.77$ 11,693,895.08$ 8,810,595.03$ 6,135,579.92$ 3,495,136.64$ 890,486.32$ (1,676,901.10)$ (4,205,591.24)$ (6,694,068.63)$ (8,624,418.80)$ Well 16 debt begins in 2017 (avg $176,000 per year for 10 years) WTP debt begins in 2024 ($830,000 per year for 15 years) (25% share here, 75% share in Water Utility) Well 17 debt begins in 2023 ($191,000 per year for 10 years) ($1.5M @ 5% over 10 years) CSAH 42 & Blaine Avenue Trunk WM & PRV Relocation ($325,000 per year for 10 years) ($2.5M @ 5% over 10 years) CSAH 42 & Blaine Water Tower 2MG Storage - $480,000 per year for 15 years) ($5M @ 5% over 15 years) * Line 94 Details Year End Cash Balances Core Fund Revenue (605) Capital Investment Fund Revenue (604) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 AB FGHIJKLMNOPQR Sanitary Sewer Rate Analysis Rate Increase 6.0% 6.0% 4.0% 4.0% 3.0% 3.0% 2.0% 2.0% 2.0% 2.0% 2.0% Description 2021 Actual 2022 Budget 2023 Proposed 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Water Demand (MG) 1,117.021 962.542 986.605 1,011.271 1,036.552 1,062.466 1,089.028 1,116.254 1,144.160 1,172.764 1,202.083 1,232.135 1,262.938 Q1 Water Demand (MG) (~15% of total demand) 140.452 132.555 147.991 151.691 155.483 159.370 163.354 167.438 171.624 175.915 180.312 184.820 189.441 Sanitary Sewer Flows (MG) * 568.955 580.200 594.705 609.572 624.812 640.432 656.443 672.854 689.675 706.917 724.590 742.705 761.272 Estimated Growth (from water spreadsheet) 3.2% 2.0%2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% Residential Accounts (includes multi-family)7,527 7,667 7,859 8,055 8,257 8,463 8,675 8,891 9,114 9,341 9,575 9,814 10,060 Commercial / Ind / Inst Accounts 153 153 157 161 165 169 173 177 182 186 191 196 201 Sanitary Sewer Fixed Charge ($/account/quarter) -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Rate per 1000 gallons (39% then 25% then 5% therafter) -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Scenario 2 rates needed to match Revenue 4.95$ 5.25$ 5.57$ 5.90$ 6.13$ 6.38$ 6.57$ 6.77$ 6.90$ 7.04$ 7.18$ 7.33$ 7.47$ Sewer Utility Fund Beginning Balance 1,502,191.41$ 1,751,637.57$ 1,744,388.49$ 1,054,394.12$ 975,184.50$ 1,004,436.88$ 1,044,948.39$ 1,270,058.70$ 1,584,221.62$ 1,992,231.48$ 2,591,992.89$ 3,251,141.07$ 3,972,261.37$ Fixed Charges -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Sewer Use Charges (billed for Q1 water usage x 4) 2,783,655.00$ 3,294,275.63$ 3,579,230.48$ 3,815,459.69$ 4,067,280.03$ 4,294,030.89$ 4,533,423.11$ 4,739,693.86$ 4,955,349.93$ 5,180,818.35$ 5,416,545.59$ 5,662,998.41$ Miscellaneous Revenue 111,000.00$ 114,330.00$ 117,759.90$ 121,292.70$ 124,931.48$ 128,679.42$ 132,539.80$ 136,516.00$ 140,611.48$ 144,829.82$ 149,174.72$ 153,649.96$ Pro-rated credit for 2nd meters purchased 2014 or later -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Revenues 4,025,410.22$ 2,894,655.00$ 3,408,605.63$ 3,696,990.38$ 3,936,752.38$ 4,192,211.50$ 4,422,710.31$ 4,665,962.92$ 4,876,209.86$ 5,095,961.41$ 5,325,648.18$ 5,565,720.31$ 5,816,648.37$ 100's - Salaries & Benefits (4%) (add 1 shared pos. in 2021) 503,044.66$ 589,400.00$ 613,000.00$ 637,600.00$ 663,200.00$ 689,800.00$ 717,400.00$ 746,100.00$ 776,000.00$ 807,100.00$ 839,400.00$ 873,000.00$ 908,000.00$ 200's - Materials and Equipment 10,306.82$ 17,900.00$ 18,500.00$ 19,100.00$ 19,700.00$ 20,300.00$ 21,000.00$ 21,700.00$ 22,400.00$ 23,100.00$ 23,800.00$ 24,600.00$ 25,400.00$ 300's - Communications, Computer, Eng, Prof Svcs 154,698.15$ 143,800.00$ 148,200.00$ 152,700.00$ 157,300.00$ 162,100.00$ 167,000.00$ 172,100.00$ 177,300.00$ 182,700.00$ 188,200.00$ 193,900.00$ 199,800.00$ 400's - Training, Conferences, Contracted Repair, Misc 16,477.50$ 77,100.00$ 79,500.00$ 81,900.00$ 84,400.00$ 87,000.00$ 89,700.00$ 92,400.00$ 95,200.00$ 98,100.00$ 101,100.00$ 104,200.00$ 107,400.00$ 500's - Buildings, Machinery, Furniture, Equipment 176,276.60$ 311,065.00$ 320,400.00$ 330,100.00$ 340,100.00$ 350,400.00$ 361,000.00$ 371,900.00$ 383,100.00$ 394,600.00$ 406,500.00$ 418,700.00$ 431,300.00$ 530.03 - CRP of Sewer Main -$ 150,000.00$ 175,000.00$ 175,000.00$ 175,000.00$ 150,000.00$ 185,000.00$ 190,000.00$ 150,000.00$ 15,000.00$ 15,000.00$ 15,000.00$ 15,000.00$ 602 - Sewer Service Charges (5% annual increase) 1,311,672.24$ 1,546,939.08$ 1,624,300.00$ 1,705,600.00$ 1,790,900.00$ 1,880,500.00$ 1,974,600.00$ 2,073,400.00$ 2,177,100.00$ 2,286,000.00$ 2,400,300.00$ 2,520,400.00$ 2,646,500.00$ 611 - Interest on Lease Payments 437.24$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 710.00 - Transfers for Other Improvements 75,561.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Utility Equipment Purchases (540, 550, 580) and Leases -$ -$ 152,000.00$ 9,400.00$ 10,000.00$ 142,500.00$ 10,500.00$ 10,500.00$ 11,000.00$ 11,000.00$ 11,000.00$ 11,000.00$ 11,000.00$ Lift Station Expenses (9 facilities) 60,626.07$ 65,700.00$ 67,700.00$ 69,800.00$ 71,900.00$ 74,100.00$ 76,400.00$ 78,700.00$ 81,100.00$ 83,600.00$ 86,200.00$ 88,800.00$ 91,500.00$ City Projects -$ -$ 480,000.00$ 175,000.00$ 175,000.00$ 175,000.00$ 175,000.00$ 175,000.00$ 175,000.00$ 175,000.00$ 175,000.00$ 175,000.00$ 175,000.00$ PW/PD Facility ($55M-$59M) 25% Share of PW Facility 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ 420,000.00$ Total Expenses 2,309,100.28$ 2,901,904.08$ 4,098,600.00$ 3,776,200.00$ 3,907,500.00$ 4,151,700.00$ 4,197,600.00$ 4,351,800.00$ 4,468,200.00$ 4,496,200.00$ 4,666,500.00$ 4,844,600.00$ 5,030,900.00$ 421.00 - Depreciation Expense 960,190.30$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Change in Assets/Liabilities 506,673.48$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Total Expenses 3,775,964.06$ 2,901,904.08$ 4,098,600.00$ 3,776,200.00$ 3,907,500.00$ 4,151,700.00$ 4,197,600.00$ 4,351,800.00$ 4,468,200.00$ 4,496,200.00$ 4,666,500.00$ 4,844,600.00$ 5,030,900.00$ Year End Balance 1,751,637.57$ 1,744,388.49$ 1,054,394.12$ 975,184.50$ 1,004,436.88$ 1,044,948.39$ 1,270,058.70$ 1,584,221.62$ 1,992,231.48$ 2,591,992.89$ 3,251,141.07$ 3,972,261.37$ 4,758,009.75$ Balance change 249,446.16$ (7,249.08)$ (689,994.37)$ (79,209.62)$ 29,252.38$ 40,511.50$ 225,110.31$ 314,162.92$ 408,009.86$ 599,761.41$ 659,148.18$ 721,120.31$ 785,748.37$ % change 16.61% -0.41% -39.56% -7.51% 3.00% 4.03% 21.54% 24.74% 25.75% 30.11% 25.43% 22.18% 19.78% 756,119.64 (7,249.08) 210,005.63 515,790.38 624,252.38 635,511.50 820,110.31 909,162.92 1,003,009.86 1,194,761.41 1,254,148.18 1,316,120.31 1,380,748.37 * New for 2017: Sewer Service Charges (line 27) are sent to us from the MCES in August for the following budget year. The charge is based on the flows from the prior calendar year. For example: flows from Jan 1 - Dec 31, 2016 are used to determine our 2018 rates. MCES charges per 1,000 gallons $2.30540 $2.66622 $2.73127 $2.79803 $2.86630 $2.93630 $3.00803 $3.08150 $3.15670 $3.23376 $3.31263 $3.39354 $3.47642 Percent change from previous year -8.3% 15.7% 2.4% 2.4% 2.4% 2.4% 2.4% 2.4% 2.4% 2.4% 2.4% 2.4% 2.4% Forthcoming Capital Projects 2023 Neighborhood Street Improvements (Jay Simons Addition & Bacardi Sewer - $750K) South Central Trunk Sanitary Sewer (projected 2024 Construction - $2.5M) Southeast Sewershed Lift Station No. 1 - $1.0M Winter Quarter Credit Q1 Projected Demands and Connections Proposed Rates Revenue Winter Quarter Credit (Q1) Expenses 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 AB FGHIJKLMNOPQR Storm Water Rate Analysis Expense Increase 4% 4% 4% Description 2021 Actual 2022 Budget 2023 Proposed 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Growth (residential, rural only) 4.8% 0.7%2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% 2.5% Residential / Muliti-family (Cat 1) 7894 7950 8149 8352 8561 8775 8995 9220 9450 9686 9928 10177 10431 Rural Residential / Agricultural (Cat 2) 594 595 610 625 641 657 673 690 707 725 743 762 781 Park / Golf Course / Cemetery (Cat 3) 5777777777777 Undeveloped / Unplatted (Cat 4) 110 111 111 111 111 111 111 111 111 111 111 111 111 Apt / Church / School / Govt / Mobile Home Park (Cat 5)190 191 191 191 191 191 191 191 191 191 191 191 191 Commercial / Industrial (add 2 annually) (Cat 6)180 179 181 183 185 187 189 191 193 195 197 199 201 Exceptions (split fee accounts)19 19 19 19 19 19 19 19 19 19 19 19 19 Rate Increase %5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% Residential / Muliti-family (per unit) 18.36$ 18.36$ 19.28$ 20.24$ 21.25$ 22.32$ 23.43$ 24.60$ 25.83$ 27.13$ 28.48$ 29.91$ 31.40$ Rural Residential / Agricultural (per lot) 19.33$ 19.33$ 20.30$ 21.31$ 22.38$ 23.50$ 24.67$ 25.90$ 27.20$ 28.56$ 29.99$ 31.49$ 33.06$ Park / Golf Course / Cemetery (per acre) 3.93$ 3.93$ 4.13$ 4.33$ 4.55$ 4.78$ 5.02$ 5.27$ 5.53$ 5.81$ 6.10$ 6.40$ 6.72$ Undeveloped / Unplatted (per acre) 0.221$ 0.221$ 0.232$ 0.244$ 0.256$ 0.269$ 0.282$ 0.296$ 0.311$ 0.327$ 0.343$ 0.360$ 0.378$ Apt / Church / School / Govt / Mobile Home Park (per acre)68.18$ 68.18$ 71.59$ 75.17$ 78.93$ 82.87$ 87.02$ 91.37$ 95.94$ 100.73$ 105.77$ 111.06$ 116.61$ Commercial / Industrial (per acre)85.04$ 85.04$ 89.29$ 93.76$ 98.44$ 103.37$ 108.53$ 113.96$ 119.66$ 125.64$ 131.92$ 138.52$ 145.45$ Exceptions (split fee accounts)-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 603 49500 Beginning Storm Water Utility Fund Balance 5,270,521.64$ 5,439,200.08$ 5,574,984.76$ 5,353,683.81$ 5,367,583.60$ 5,454,165.92$ 5,487,437.20$ 5,628,359.77$ 5,936,885.48$ 6,379,891.72$ 6,930,720.14$ 7,598,318.08$ 8,391,983.15$ Residential / Muliti-family 583,848.00$ 628,366.41$ 676,279.35$ 727,845.65$ 783,343.88$ 843,073.85$ 907,358.23$ 976,544.30$ 1,051,005.80$ 1,131,144.99$ 1,217,394.80$ 1,310,221.15$ Rural Residential / Agricultural 46,005.40$ 49,513.31$ 53,288.70$ 57,351.97$ 61,725.05$ 66,431.59$ 71,497.00$ 76,948.64$ 82,815.98$ 89,130.69$ 95,926.91$ 103,241.34$ Park / Golf Course / Cemetery 2,493.40$ 2,618.07$ 2,748.97$ 2,886.42$ 3,030.74$ 3,182.28$ 3,341.39$ 3,508.46$ 3,683.89$ 3,868.08$ 4,061.49$ 4,264.56$ Undeveloped / Unplatted 9,951.08$ 10,448.63$ 10,971.07$ 11,519.62$ 12,095.60$ 12,700.38$ 13,335.40$ 14,002.17$ 14,702.28$ 15,437.39$ 16,209.26$ 17,019.72$ Apt / Church / School / Govt / Mobile Home Park 128,202.76$ 134,612.90$ 141,343.54$ 148,410.72$ 155,831.26$ 163,622.82$ 171,803.96$ 180,394.16$ 189,413.87$ 198,884.56$ 208,828.79$ 219,270.23$ Commercial / Industrial (1% annual growth, plus rate inc)609,698.52$ 646,585.28$ 685,703.69$ 727,188.76$ 771,183.68$ 817,840.30$ 867,319.63$ 919,792.47$ 975,439.92$ 1,034,454.03$ 1,097,038.50$ 1,163,409.33$ Exceptions (split fee accounts)148,550.52$ 155,978.05$ 163,776.95$ 171,965.80$ 180,564.09$ 189,592.29$ 199,071.90$ 209,025.50$ 219,476.77$ 230,450.61$ 241,973.14$ 254,071.80$ Interest / Assessments / Other 2,650,392.74$ 81,300.00$ 85,365.00$ 89,633.25$ 94,114.91$ 98,820.66$ 103,761.69$ 108,949.78$ 114,397.26$ 120,117.13$ 126,122.98$ 132,429.13$ 139,050.59$ Total Revenues 4,122,210.13$ 1,610,049.68$ 1,713,487.65$ 1,823,745.52$ 1,941,283.85$ 2,066,594.96$ 2,200,205.19$ 2,342,677.30$ 2,494,612.97$ 2,656,655.63$ 2,829,493.35$ 3,013,862.02$ 3,210,548.72$ 100's - Salaries and Benefits (4% annual increase) 553,557.28$ 568,500.00$ 591,240.00$ 614,889.60$ 639,485.18$ 665,064.59$ 691,667.18$ 719,333.86$ 748,107.22$ 778,031.51$ 809,152.77$ 841,518.88$ 875,179.63$ 200's - Materials and Equipment 8,571.03$ 24,200.00$ 25,168.00$ 26,174.72$ 27,221.71$ 28,310.58$ 29,443.00$ 30,620.72$ 31,845.55$ 33,119.37$ 34,444.15$ 35,821.91$ 37,254.79$ 300's - Communications, Computer, Eng, Prof Svcs 152,336.41$ 93,100.00$ 96,824.00$ 100,696.96$ 104,724.84$ 108,913.83$ 113,270.39$ 117,801.20$ 122,513.25$ 127,413.78$ 132,510.33$ 137,810.74$ 143,323.17$ 400's - Contracted Repairs, Training/Cert 185,313.08$ 170,200.00$ 177,008.00$ 184,088.32$ 191,451.85$ 199,109.93$ 207,074.32$ 215,357.30$ 223,971.59$ 232,930.45$ 242,247.67$ 251,937.58$ 262,015.08$ 405.xx - MS4 Permit Compliance 81,430.61$ 140,000.00$ 145,600.00$ 151,424.00$ 157,480.96$ 163,780.20$ 170,331.41$ 177,144.66$ 184,230.45$ 191,599.67$ 199,263.65$ 207,234.20$ 215,523.57$ 530.01 & 530.02 - CRP and Improvements 109,998.64$ 260,000.00$ 200,000.00$ 200,000.00$ 200,000.00$ 200,000.00$ 200,000.00$ 200,000.00$ 200,000.00$ 200,000.00$ 200,000.00$ 200,000.00$ 200,000.00$ 540/550/580 - Equipment / Leases (from CIP) -$ 182,500.00$ 177,000.00$ 9,400.00$ 9,900.00$ 142,400.00$ 120,400.00$ 45,400.00$ 11,000.00$ 11,300.00$ 11,300.00$ 11,300.00$ 11,300.00$ 500's - Other 459.23$ 11,065.00$ 11,507.60$ 11,967.90$ 12,446.62$ 12,944.48$ 13,462.26$ 14,000.75$ 14,560.79$ 15,143.22$ 15,748.95$ 16,378.90$ 17,034.06$ 611.00 - Interest 437.24$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 700's - P&I Payments / Transfers 127,073.00$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ $30M Pipe to River (4.5% over 25 years) ($2M/yr) -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ $10M Project (4.0% over 20 years) ($760k/yr) (split w/Core) -$ 380,000.00$ 380,000.00$ 380,000.00$ 380,000.00$ 380,000.00$ 380,000.00$ 380,000.00$ 380,000.00$ 380,000.00$ 380,000.00$ 380,000.00$ PW/PD Facility ($55M-$59M) 25% Share of PW Facility 105,000.00$ 105,000.00$ 105,000.00$ 105,000.00$ 105,000.00$ 105,000.00$ 105,000.00$ 105,000.00$ 105,000.00$ 105,000.00$ 105,000.00$ Lift Station Expenses 12,394.01$ 24,700.00$ 25,441.00$ 26,204.23$ 26,990.36$ 27,800.07$ 28,634.07$ 29,493.09$ 30,377.88$ 31,289.22$ 32,227.90$ 33,194.73$ 34,190.58$ Total Expenses 1,231,570.53$ 1,474,265.00$ 1,934,788.60$ 1,809,845.73$ 1,854,701.52$ 2,033,323.68$ 2,059,282.62$ 2,034,151.59$ 2,051,606.72$ 2,105,827.21$ 2,161,895.41$ 2,220,196.95$ 2,280,820.88$ 421.00 - Depreciation Expense 813,384.31$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Change in Assets/Liabilities 1,908,576.85$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ Year End Balance 5,439,200.08$ 5,574,984.76$ 5,353,683.81$ 5,367,583.60$ 5,454,165.92$ 5,487,437.20$ 5,628,359.77$ 5,936,885.48$ 6,379,891.72$ 6,930,720.14$ 7,598,318.08$ 8,391,983.15$ 9,321,710.99$ Balance change 168,678.44$ 135,784.68$ (221,300.95)$ 13,899.79$ 86,582.33$ 33,271.28$ 140,922.57$ 308,525.71$ 443,006.24$ 550,828.41$ 667,597.94$ 793,665.07$ 929,727.84$ % change 3.20% 2.50% -3.97% 0.26% 1.61% 0.61% 2.57% 5.48% 7.46% 8.63% 9.63% 10.45% 11.08% 2,077,255.29$ 135,784.68$ (221,300.95)$ 13,899.79$ 86,582.33$ 33,271.28$ 140,922.57$ 308,525.71$ 443,006.24$ 550,828.41$ 667,597.94$ 793,665.07$ 929,727.84$ 2023 Neighborhood Street Improvements (Jay Simons Addition & Bacardi Storm sewer extensions - $300K) 1,471,817.39$ Expenses Customer Groups Rates Revenue 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 AB CDEFGHIJKLMNOP Street Light Utility Fees Rate Increase 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% 5% Description 2020 Actual 2021 Actual 2022 Proposed 2023 Budget 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Estimated Account Growth n/a -1.10% 1.60%2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% 2.50% Residential/Storm only accounts 8,038 7,956 8,090 8,292 8,500 8,712 8,930 9,153 9,382 9,616 9,857 10,103 10,356 10,615 Com/Ind/Inst Accounts 187 178 177 181 186 191 195 200 205 210 216 221 227 232 Multi Family accounts 218 216 217 219 221 223 225 227 229 231 233 235 237 239 Residential/Storm only rate 5.75$ 5.75$ 5.75$ 6.04$ 6.34$ 6.66$ 6.99$ 7.34$ 7.71$ 8.09$ 8.50$ 8.92$ 9.37$ 9.83$ Commercial rate 11.50$ 11.50$ 11.50$ 12.08$ 12.68$ 13.31$ 13.98$ 14.68$ 15.41$ 16.18$ 16.99$ 17.84$ 18.73$ 19.67$ Multi Family rate (per unit/max of 10)5.75$ 5.75$ 5.75$ 6.04$ 6.34$ 6.66$ 6.99$ 7.34$ 7.71$ 8.09$ 8.50$ 8.92$ 9.37$ 9.83$ 608-49508 Street Light Fund Beginning Balance -$ 25,204.44$ 59,970.32$ 40,846.57$ 27,798.13$ 21,602.82$ 23,110.50$ 33,249.04$ 53,030.84$ 83,559.78$ 126,038.80$ 181,778.05$ 252,203.67$ 338,867.28$ Street Light Revenues - Residentia 186,070.00$ 200,257.84$ 215,527.50$ 231,961.47$ 249,648.53$ 268,684.23$ 289,171.40$ 311,220.72$ 334,951.30$ 360,491.34$ 387,978.81$ 417,562.19$ Street Light Revenues - Commercial 8,142.00$ 8,762.83$ 9,430.99$ 10,150.11$ 10,924.05$ 11,757.01$ 12,653.48$ 13,618.31$ 14,656.71$ 15,774.28$ 16,977.07$ 18,271.57$ Street Light Revenues - Multi Family 6,664.25$ 6,730.89$ 6,798.20$ 6,866.18$ 6,934.85$ 7,004.19$ 7,074.24$ 7,144.98$ 7,216.43$ 7,288.59$ 7,361.48$ 7,435.09$ Total Revenue *250,182.84$ 242,134.10$ 200,876.25$ 215,751.56$ 231,756.69$ 248,977.76$ 267,507.43$ 287,445.44$ 308,899.12$ 331,984.01$ 356,824.44$ 383,554.21$ 412,317.35$ 443,268.85$ 200's Materials & Supplies 1,602.00$ 673.65$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 300's Legal, Prof Svcs, Bill Print, PC 2,504.33$ 2,230.09$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ -$ 381.00 Electric Utilities 183,623.55$ 192,097.96$ 185,000.00$ 192,400.00$ 200,096.00$ 208,099.84$ 216,423.83$ 225,080.79$ 234,084.02$ 243,447.38$ 253,185.27$ 263,312.69$ 273,845.19$ 284,799.00$ 400's Contracted Repairs & Maint.5,383.57$ 6,400.43$ 15,000.00$ 15,600.00$ 16,224.00$ 16,872.96$ 17,547.88$ 18,249.79$ 18,979.79$ 19,738.98$ 20,528.54$ 21,349.68$ 22,203.66$ 23,091.81$ 530.00 Improvements other than Bldgs -$ 4,714.23$ 20,000.00$ 20,800.00$ 21,632.00$ 22,497.28$ 23,397.17$ 24,333.06$ 25,306.38$ 26,318.64$ 27,371.38$ 28,466.24$ 29,604.89$ 30,789.08$ Total Expenditures 193,113.45$ 206,116.36$ 220,000.00$ 228,800.00$ 237,952.00$ 247,470.08$ 257,368.88$ 267,663.64$ 278,370.18$ 289,504.99$ 301,085.19$ 313,128.60$ 325,653.74$ 338,679.89$ 421.00 - Depreciation -$ -$ Change in Assets/Liabilities 31,864.95$ 1,251.86$ Year End Fund Balance**25,204.44$ 59,970.32$ 40,846.57$ 27,798.13$ 21,602.82$ 23,110.50$ 33,249.04$ 53,030.84$ 83,559.78$ 126,038.80$ 181,778.05$ 252,203.67$ 338,867.28$ 443,456.24$ Balance Change 25,204.44$ 34,765.88$ (19,123.75)$ (13,048.44)$ (6,195.31)$ 1,507.68$ 10,138.55$ 19,781.80$ 30,528.94$ 42,479.02$ 55,739.25$ 70,425.62$ 86,663.61$ 104,588.96$ Change %#DIV/0! 137.94% -31.89% -31.95% -22.29% 6.98% 43.87% 59.50% 57.57% 50.84% 44.22% 38.74% 34.36% 30.86% * Total actual revenues include all billed amounts plus penalties, developer fees, assessments and interes ** Year end fund balance not adjusted for accounts receivable (billed revenue not yet paid Projected Demands and Connections Proposed Rates and Fixed Charges Revenues Expenses 2019: usage charges + $6.50 fixed charge + $8.93 surcharge + $1.02 maintenance fee 2020: usage charges + $3.00 fixed charge + $8.97 surcharge + $1.15 maintenance fee 2021: usage charges + no fixed charge + $9.02 surcharge + $1.21 maintenance fee 2022: usage charges + $9.06 surcharge + $1.27 maintenance fee 2023: usage charges + $9.52 surcharge + $1.33 maintenance fee Usage (1000s) 2019 Actual 2020 Actual 2021 Actual 2022 Budget 2023 Proposed Q1 5 $23.45 $20.82 $18.33 $18.83 $19.80 Q2 5 $23.45 $20.82 $18.33 $18.83 $19.80 Q3 5 $23.45 $20.82 $18.33 $18.83 $19.80 Q4 5 $23.45 $20.82 $18.33 $18.83 $19.80 20 $93.80 $83.28 $73.32 $75.32 $79.20 2019: $2.80 usage charge + $12.25 fixed charge 2020: $4.76 usage charge + $6.00 fixed charge (minimum 6 usage) 2021: $4.95 usage charge + $0 fixed charge (minimum 6 usage) 2022: $5.25 usage charge (minimum 6 usage) 2023: $5.57 usage charge (minimum 6 usage) 2019 Actual 2020 Actual 2021 Actual 2022 Budget 2023 Proposed Quarter 1 $26.25 $34.56 $29.70 $31.50 $33.42 Quarter 2 $26.25 $34.56 $29.70 $31.50 $33.42 Quarter 3 $26.25 $34.56 $29.70 $31.50 $33.42 Quarter 4 $26.25 $34.56 $29.70 $31.50 $33.42 Total $105.00 $138.24 $118.80 $126.00 $133.68 2019: Includes $18.36 stormwater fees 2020: Includes $18.36 stormwater fees + $5.75 street light fee 2021: Includes $18.36 stormwater fees + $5.75 street light fee 2022: Includes $18.36 stormwater fees + $5.75 street light fee 2023: Includes $19.28 stormwater fees + $6.04 street light fee 2019 Actual 2020 Actual 2021 Actual 2022 Budget 2023 Proposed Quarter 1 $68.06 $79.49 $72.14 $74.44 $78.54 Quarter 2 $68.06 $79.49 $72.14 $74.44 $78.54 Quarter 3 $68.06 $79.49 $72.14 $74.44 $78.54 Quarter 4 $68.06 $79.49 $72.14 $74.44 $78.54 Total $272.24 $317.96 $288.56 $297.76 $314.16 16.8% -9.2% 3.2% 5.5% Water Rates Sewer Rates Total Proposed Utility Bill Utility Bill Comparison 2019 - 2023 (LOW User) 2019: usage charges + $6.50 fixed charge + $8.93 surcharge + $1.02 maintenance fee 2020: usage charges + $3.00 fixed charge + $8.97 surcharge + $1.15 maintenance fee 2021: usage charges + no fixed charge + $9.02 surcharge + $1.21 maintenance fee 2022: usage charges + $9.06 surcharge + $1.27 maintenance fee 2023: usage charges + $9.52 surcharge + $1.33 maintenance fee Usage (1000s) 2019 Actual 2020 Actual 2021 Actual 2022 Budget 2023 Proposed Q1 12 $33.25 $31.60 $29.67 $30.73 $32.33 Q2 21 $49.09 $48.97 $47.94 $49.90 $52.49 Q3 28 $63.13 $64.40 $64.15 $66.93 $70.37 Q4 15 $38.53 $37.39 $35.76 $37.12 $39.05 76 $184.00 $182.36 $177.52 $184.68 $194.24 2019: $2.80 usage charge + $12.25 fixed charge 2020: $4.76 usage charge + $6.00 fixed charge (minimum 6 usage) 2021: $4.95 usage charge + $0 fixed charge (minimum 6 usage) 2022: $5.25 usage charge (minimum 6 usage) 2023: $5.57 usage charge (minimum 6 usage) 2019 Actual 2020 Actual 2021 Actual 2022 Budget 2023 Proposed Quarter 1 $45.85 $63.12 $59.40 $63.00 $66.84 Quarter 2 $71.05 $63.12 $59.40 $63.00 $66.84 Quarter 3 $90.65 $63.12 $59.40 $63.00 $66.84 Quarter 4 $54.25 $63.12 $59.40 $63.00 $66.84 Total $261.80 $252.48 $237.60 $252.00 $267.36 2019: Includes $18.36 stormwater fees 2020: Includes $18.36 stormwater fees + $5.75 street light fee 2021: Includes $18.36 stormwater fees + $5.75 street light fee 2022: Includes $18.36 stormwater fees + $5.75 street light fee 2023: Includes $19.28 stormwater fees + $6.04 street light fee 2019 Actual 2020 Actual 2021 Actual 2022 Budget 2023 Proposed Quarter 1 $97.46 $118.83 $113.18 $117.84 $124.49 Quarter 2 $138.50 $136.20 $131.45 $137.01 $144.65 Quarter 3 $172.14 $151.63 $147.66 $154.04 $162.53 Quarter 4 $111.14 $124.62 $119.27 $124.23 $131.21 Total $519.24 $531.28 $511.56 $533.12 $562.88 2.3% -3.7% 4.2% 5.6% Water Rates Sewer Rates Total Proposed Utility Bill Utility Bill Comparison 2019 - 2023 (AVERAGE User) 2019: usage charges + $6.50 fixed charge + $8.93 surcharge + $1.02 maintenance fee 2020: usage charges + $3.00 fixed charge + $8.97 surcharge + $1.15 maintenance fee 2021: usage charges + no fixed charge + $9.02 surcharge + $1.21 maintenance fee 2022: usage charges + $9.06 surcharge + $1.27 maintenance fee 2023: usage charges + $9.52 surcharge + $1.33 maintenance fee Usage (1000s) 2019 Actual 2020 Actual 2021 Actual 2022 Budget 2023 Proposed Q1 15 $38.53 $37.39 $35.76 $37.12 $39.05 Q2 40 $89.41 $93.32 $94.51 $98.85 $103.85 Q3 70 $179.31 $192.24 $198.35 $207.91 $218.35 Q4 25 $56.56 $57.17 $56.56 $58.95 $62.00 150 $363.81 $380.12 $385.18 $402.83 $423.25 2019: $2.80 usage charge + $12.25 fixed charge 2020: $4.76 usage charge + $6.00 fixed charge (minimum 6 usage) 2021: $4.95 usage charge + $0 fixed charge (minimum 6 usage) 2022: $5.25 usage charge (minimum 6 usage) 2023: $5.57 usage charge (minimum 6 usage) 2019 Actual 2020 Actual 2021 Actual 2022 Budget 2023 Proposed Quarter 1 $54.25 $77.40 $74.25 $78.75 $83.55 Quarter 2 $124.25 $77.40 $74.25 $78.75 $83.55 Quarter 3 $208.25 $77.40 $74.25 $78.75 $83.55 Quarter 4 $82.25 $77.40 $74.25 $78.75 $83.55 Total $469.00 $309.60 $297.00 $315.00 $334.20 2019: Includes $18.36 stormwater fees 2020: Includes $18.36 stormwater fees + $5.75 street light fee 2021: Includes $18.36 stormwater fees + $5.75 street light fee 2022: Includes $18.36 stormwater fees + $5.75 street light fee 2023: Includes $19.28 stormwater fees + $6.04 street light fee 2019 Actual 2020 Actual 2021 Actual 2022 Budget 2023 Proposed Quarter 1 $111.14 $138.90 $134.12 $139.98 $147.92 Quarter 2 $232.02 $194.83 $192.87 $201.71 $212.72 Quarter 3 $405.92 $293.75 $296.71 $310.77 $327.22 Quarter 4 $157.17 $158.68 $154.92 $161.81 $170.87 Total $906.25 $786.16 $778.62 $814.27 $858.73 -13.3% -1.0% 4.6% 5.5% Water Rates Sewer Rates Total Proposed Utility Bill Utility Bill Comparison 2019 - 2023 (HIGH User) 2019: usage charges + $6.50 fixed charge + $13.71 surcharge + $6.34 maintenance fee (1-inch meter) 2020: usage charges + $3.00 fixed charge + $13.77 surcharge + $6.37 maintenance fee (1-inch meter) 2021: usage charges + $0.00 fixed charge + $13.84 surcharge + $6.41 maintenance fee (1-inch meter) 2022: usage charges + $13.91 surcharge + $6.44 maintenance fee 2023: usage charges + $14.61 surcharge + $6.76 maintenance fee Usage (1000s) 2019 Actual 2020 Actual 2021 Actual 2022 Budget 2023 Proposed Q1 72 $143.91 $152.02 $155.61 $162.91 $170.41 Q2 90 $177.35 $188.74 $194.15 $203.45 $212.87 Q3 115 $228.35 $244.74 $252.90 $265.20 $277.62 Q4 80 $156.95 $166.34 $170.65 $178.75 $186.97 357 $706.56 $751.84 $773.31 $810.31 $847.87 2019: $2.80 usage charge + $12.50 fixed charge 2020: $4.76 usage charge + $6.00 fixed charge 2021: $4.95 usage charge + $0.00 fixed charge 2022: $5.25 usage charge 2023: $5.57 usage charge 2019 Actual 2020 Actual 2021 Actual 2022 Budget 2023 Proposed Quarter 1 $213.85 $348.72 $356.40 $378.00 $401.04 Quarter 2 $264.25 $434.40 $445.50 $472.50 $501.30 Quarter 3 $334.25 $553.40 $569.25 $603.75 $640.55 Quarter 4 $236.25 $386.80 $396.00 $420.00 $445.60 Total $1,048.60 $1,723.32 $1,767.15 $1,874.25 $1,988.49 2019: Includes $85.04 stormwater fees (1 acre) 2020: Includes $85.04 stormwater fees (1 acre) + $11.50 street light fee 2021: Includes $85.04 stormwater fees (1 acre) + $11.50 street light fee 2022: Includes $85.04 stormwater fees (1 acre) + $11.50 street light fee 2023: Includes $89.29 stormwater fees (1 acre) + $12.08 street light fee 2019 Actual 2020 Actual 2021 Actual 2022 Budget 2023 Proposed Quarter 1 $442.80 $597.28 $608.55 $637.45 $672.82 Quarter 2 $526.64 $719.68 $736.19 $772.49 $815.54 Quarter 3 $647.64 $894.68 $918.69 $965.49 $1,019.54 Quarter 4 $478.24 $649.68 $663.19 $695.29 $733.94 Total $2,095.32 $2,861.32 $2,926.62 $3,070.72 $3,241.84 36.6% 2.3% 4.9% 5.6% Water Rates Sewer Rates Total Proposed Utility Bill Utility Bill Comparison 2019 - 2023 (Com / Ind / Inst AVG User)