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HomeMy Public PortalAboutRate Study Report 8-14-2017.pdf RICHMOND SANITARY DISTRICT SPECIAL PURPOSE REPORT July 31, 2017 RICHMOND SANITARY DISTRICT TABLE OF CONTENTS Page Number Accountant’s Report 1-2 Comparative Statements of Selected Financial Information Arising from Cash Transactions 3 Comparative Statements of Cash Receipts & Disbursements Supplementary Information: 4 Detail of Operation and Maintenance Disbursements Comparison of Account Balances with Minimum Reserve Requirements 5 6 Schedule of Amortization of $1,176,000 Outstanding Sanitary District Bonds of 2009, Series A Schedule of Amortization of $8,555,000 Outstanding Sanitary District Bonds of 2009, Series B Schedule of Amortization of $12,920,000 Outstanding Sanitary District Bonds of 2012, Series A Schedule of Amortization of $739,160 Outstanding Sanitary District Bonds of 2012, Series B Schedule of Amortization of $3,120,000 Outstanding Sanitary District Bonds of 2015, Series A Schedule of Amortization of $6,820,000 Outstanding Sanitary District Bonds of 2015, Series B Schedule of Combined Debt Service 7 8 9 10 11 12 13 Schedule of Wastewater Gallons Billed By User Class 14 Schedule of Gallons Treated and Billed 15 Projected Cash Operating and Maintenance Disbursements 16 Schedule of Projected Revenue Requirements and Rate Impacts 17 Schedule of Current and Proposed Rates and Charges 18 20162015 UTILITY PLANT IN SERVICE115,936,892$ 114,375,073$ CASH AND CASH EQUIVALENTS: WASTEWATER OPERATING FUND4,994,680$ 4,145,074$ STORMWATER FUND3,522,276 3,568,975 BOND AND INTEREST FUND2,788,694 2,962,946 DEBT SERVICE RESERVE FUND2,622,237 1,995,034 CONSTRUCTION FUND932,677 935,658 TOTAL CASH AND CASH EQUIVALENTS14,860,564$ 13,607,687$ BONDED DEBT: REVENUE BONDS OF 2009, SERIES A1,176,000$ 1,241,000$ REVENUE BONDS OF 2009, SERIES B8,555,000 8,985,000 REVENUE BONDS OF 2012, SERIES A12,920,000 13,565,000 REVENUE BONDS OF 2012, SERIES B739,160 782,640 REVENUE BONDS OF 2015, SERIES A3,120,000 4,250,000 REVENUE BONDS OF 2015, SERIES B6,820,000 6,820,000 TOTAL BONDED DEBT33,330,160$ 35,643,640$ RICHMOND SANITARY DISTRICT COMPARATIVE STATEMENTS OF SELECTED FINANCIAL INFORMATION ARISING FROM CASH TRANSACTIONS AS OF DECEMBER 31 SEE ACCOUNTANT'S COMPILATION REPORT - 3 - 20162015 OPERATING RECEIPTS: USER FEES8,496,986$ 8,571,254$ STORMWATER FEES1,478,430 1,513,500 SURCHARGE408,285 612,673 SEPTIC TANK86,161 76,434 OTHER13,921 23,922 LEACHATE5,956 4,656 TOTAL OPERATING RECEIPTS10,489,739 10,802,439 OPERATING DISBURSEMENTS: PLANT2,417,958 3,795,912 ADMINISTRATIVE AND GENERAL1,782,363 2,015,155 STORMWATER187,447 281,187 TOTAL OPERATING DISBURSEMENTS4,387,768 6,092,254 TOTAL NON-OPERATING RECEIPTS INTEREST8,413 553 TAPS5,752 5,550 MISCELLANEOUS NON-OPERATING REVENUE5,181 - CONTRIBUTIONS IN AID OF CONSTRUCTION3,736 6,695 TOTAL NON-OPERATING RECEIPTS23,082 12,798 NON-OPERATING DISBURSEMENTS: PLANT ADDITIONS AND IMPROVEMENTS1,561,819 1,205,435 INTEREST PAID858,657 663,176 PRINCIPAL PAID2,313,480 1,686,313 LEASE PAYMENT137,470 206,205 BOND REGISTRAR FEES750 750 TOTAL NON-OPERATING DISBURSEMENTS4,872,176 3,761,879 INCREASE (DECREASE) IN CASH1,252,877 961,104 BEGINNING CASH BALANCE13,607,687 12,646,583 ENDING CASH BALANCE14,860,564$ 13,607,687$ RICHMOND SANITARY DISTRICT COMPARATIVE STATEMENTS OF RECEIPTS AND DISBURSEMENTS FOR THE TWELVE MONTHS ENDED DECEMBER 31 SEE ACCOUNTANT'S COMPILATION REPORT - 4 - RICHMOND SANITARY DISTRICT SUPPLEMENTARY INFORMATION 20162015 PLANT: SALARIES AND WAGES1,051,446$ 1,133,866$ FUEL OR POWER PURCHASED752,017 799,521 CHEMICALS56,723 222,525 MATERIALS AND SUPPLIES89,185 96,473 REPAIR AND MAINTENANCE137,716 136,032 TRANSPORTATION88,844 110,114 SLUDGE HAULING242,027 1,297,381 2,417,958 3,795,912 ADMINISTRATIVE AND GENERAL: SALARIES AND WAGES218,418 223,023 EMPLOYEE PENSIONS AND BENEFITS230,830 244,856 INSURANCE586,131 586,950 PROMOTIONAL1,175 498 CONTRACTUAL SERVICES: PROFESSIONAL- 1,290 TECHNICAL137,969 220,305 OTHER297,247 450,915 IDEM PERMITS8,625 8,625 TRANSPORTATION7,596 8,310 OFFICE SUPPLIES8,392 8,494 OFFICE EXPENSE71,685 49,655 INTERGOVERNMENTAL CHARGES111,926 111,946 TRAINING AND EDUCATION6,585 6,504 WATER SHUT OFF RECONNECT FEES86,580 82,485 MISCELLANOUS EXPENSE9,204 11,299 1,782,363 2,015,155 STORMWATER: SALARIES AND WAGES45,015 45,525 EMPLOYEE PENSIONS AND BENEFITS8,394 8,549 TRANSPORTATION- 115 CONCRETE/ASPHALT5,233 5,145 MATERIALS AND SUPPLIES5,079 6,972 CONTRACTUAL SERVICES91,173 194,037 POSTAGE28,000 14,742 TRAINING AND EDUCATION1,678 3,227 IDEM PERMITS2,875 2,875 187,447 281,187 TOTAL OPERATION & MAINTENANCE EXPENSES4,387,768$ 6,092,254$ RICHMOND SANITARY DISTRICT DETAIL OF OPERATION AND MAINTENANCE DISBURSEMENTS FOR THE PERIOD ENDING SEE ACCOUNTANT'S COMPILATION REPORT - 5 - BALANCE ATMINIMUMAVAILABLE 12/31/2016RESERVEFOR (Unaudited) REQUIREDTRANSFER WASTEWATER OPERATING FUND4,994,680$ 731,295$ (1)4,263,385$ STORMWATER FUND3,522,276 - 3,522,276 BOND AND INTEREST FUND2,788,694 2,780,542 (2)8,152 DEBT SERVICE RESERVE FUND2,622,237 2,618,624 (3)3,613 CONSTRUCTION FUND932,677 - 932,677 14,860,564$ 6,130,461$ 8,730,103$ (1) (2) (3) RICHMOND SANITARY DISTRICT COMPARISON OF ACCOUNT BALANCES WITH MINIMUM RESERVE REQUIREMENTS PertheBondOrdinances,anamountequaltotherequiredbalanceperthemonthlytransferschedules. Themonthlytransferswillresultinatotalamountoffundswhichisequaltothemaximumannual principal and interest on the outstanding Bonds. PertheBondOrdinances,anamountequalto1/6ofthenextinterestpaymentsand1/12ofthenext principal payments. Per the Bond Ordinances, an amount equal to two months of operation and maintenance expenses. SEE ACCOUNTANT'S COMPILATION REPORT - 6 - BOND PAYMENTPRINCIPALINTERESTPERIODYEAR DATEBALANCEPRINCIPALRATEINTERESTTOTALTOTAL 01/01/171,176,000$ 67,000$ 3.37%19,815.60$ 86,815.60$ 86,815.60$ 07/01/1718,686.6518,686.65 01/01/181,109,00069,000 3.37%18,686.6587,686.65 106,373.30 07/01/1817,524.0017,524.00 01/01/191,040,00072,000 3.37%17,524.0089,524.00 107,048.00 07/01/1916,310.8016,310.80 01/01/20968,00074,000 3.37%16,310.8090,310.80 106,621.60 07/01/2015,063.9015,063.90 01/01/21894,00077,000 3.37%15,063.9092,063.90 107,127.80 07/01/2113,766.4513,766.45 01/01/22817,00079,000 3.37%13,766.4592,766.45 106,532.90 07/01/2212,435.3012,435.30 01/01/23738,00082,000 3.37%12,435.3094,435.30 106,870.60 07/01/2311,053.6011,053.60 01/01/24656,00085,000 3.37%11,053.6096,053.60 107,107.20 07/01/249,621.359,621.35 01/01/25571,00088,000 3.37%9,621.3597,621.35 107,242.70 07/01/258,138.558,138.55 01/01/26483,00090,000 3.37%8,138.5598,138.55 106,277.10 07/01/266,622.056,622.05 01/01/27393,00093,000 3.37%6,622.0599,622.05 106,244.10 07/01/275,055.005,055.00 01/01/28300,00097,000 3.37%5,055.00102,055.00 107,110.00 07/01/283,420.553,420.55 01/01/29203,000100,000 3.37%3,420.55103,420.55 106,841.10 07/01/291,735.551,735.55 01/01/30103,000103,000 3.37%1,735.55104,735.55 106,471.10 TOTALS 1,176,000$ 298,683.10$ 1,474,683.10$ 1,474,683.10$ RICHMOND SANITARY DISTRICT SCHEDULE OF AMORTIZATION OF OUTSTANDING $1,176,000 SANITARY DISTRICT BONDS OF 2009, SERIES A ASSUMED DATING JULY 23, 2009 PRINCIPAL PAYABLE ANNUALLY, JANUARY 1ST INTEREST PAYABLE SEMI-ANNUALLY, JANUARY 1ST AND JULY 1ST SEE ACCOUNTANT'S COMPILATION REPORT - 7 - BOND PAYMENTPRINCIPALINTERESTPERIODYEAR DATEBALANCEPRINCIPALRATEINTERESTTOTALTOTAL 01/01/17 8,555,000$ 445,000$ 3.75%181,076.25$ 626,076.25$ 626,076.25$ 07/01/17172,732.50172,732.50 01/01/188,110,000465,000 4.00%172,732.50637,732.50 810,465.00 07/01/18163,432.50163,432.50 01/01/197,645,000485,000 4.00%163,432.50648,432.50 811,865.00 07/01/19 153,732.50 153,732.50 01/01/207,160,000505,000 4.00%153,732.50658,732.50 812,465.00 07/01/20143,632.50143,632.50 01/01/216,655,000530,000 4.00%143,632.50673,632.50 817,265.00 07/01/21133,032.50133,032.50 01/01/226,125,000555,000 4.10%133,032.50688,032.50 821,065.00 07/01/22121,655.00121,655.00 01/01/235,570,000580,000 4.20%121,655.00701,655.00 823,310.00 07/01/23109,475.00109,475.00 01/01/244,990,000610,000 4.25%109,475.00719,475.00 828,950.00 07/01/2496,512.5096,512.50 01/01/254,380,000640,000 4.30%96,512.50736,512.50 833,025.00 07/01/2582,752.5082,752.50 01/01/263,740,000670,000 4.30%82,752.50752,752.50 835,505.00 07/01/2668,347.5068,347.50 01/01/273,070,000710,000 4.40%68,347.50778,347.50 846,695.00 07/01/2752,727.5052,727.50 01/01/282,360,000745,000 4.40%52,727.50797,727.50 850,455.00 07/01/2836,337.5036,337.50 01/01/291,615,000785,000 4.50%36,337.50821,337.50 857,675.00 07/01/2918,675.0018,675.00 01/01/30830,000830,000 4.50%18,675.00848,675.00 867,350.00 TOTALS 8,555,000$ 2,887,166.25$ 11,442,166.25$ 11,442,166.25$ RICHMOND SANITARY DISTRICT SCHEDULE OF AMORTIZATION OF OUTSTANDING $8,555,000 SANITARY DISTRICT BONDS OF 2009, SERIES B DATED SEPTEMBER 16, 2009 PRINCIPAL PAYABLE ANNUALLY, JANUARY 1ST INTEREST PAYABLE SEMI-ANNUALLY, JANUARY 1ST AND JULY 1ST SEE ACCOUNTANT'S COMPILATION REPORT - 8 - BOND PAYMENTPRINCIPALINTERESTPERIODYEAR DATEBALANCEPRINCIPALRATEINTERESTTOTALTOTAL 01/01/1712,920,000$ 655,000$ 1.73%111,758.00$ 766,758.00$ 766,758.00$ 07/01/17106,092.25106,092.25 01/01/1812,265,000665,000 1.73%106,092.25771,092.25 877,184.50 07/01/18100,340.00100,340.00 01/01/1911,600,000680,000 1.73%100,340.00780,340.00 880,680.00 07/01/1994,458.0094,458.00 01/01/2010,920,000690,000 1.73%94,458.00784,458.00 878,916.00 07/01/2088,489.5088,489.50 01/01/2110,230,000705,000 1.73%88,489.50793,489.50 881,979.00 07/01/2182,391.2582,391.25 01/01/229,525,000715,000 1.73%82,391.25797,391.25 879,782.50 07/01/2276,206.5076,206.50 01/01/238,810,000730,000 1.73%76,206.50806,206.50 882,413.00 07/01/2369,892.0069,892.00 01/01/248,080,000745,000 1.73%69,892.00814,892.00 884,784.00 07/01/2463,447.7563,447.75 01/01/257,335,000755,000 1.73%63,447.75818,447.75 881,895.50 07/01/2556,917.0056,917.00 01/01/266,580,000770,000 1.73%56,917.00826,917.00 883,834.00 07/01/2650,256.5050,256.50 01/01/275,810,000785,000 1.73%50,256.50835,256.50 885,513.00 07/01/2743,466.2543,466.25 01/01/285,025,000800,000 1.73%43,466.25843,466.25 886,932.50 07/01/2836,546.2536,546.25 01/01/294,225,000815,000 1.73%36,546.25851,546.25 888,092.50 07/01/2929,496.5029,496.50 01/01/303,410,000830,000 1.73%29,496.50859,496.50 888,993.00 07/01/3022,317.0022,317.00 01/01/312,580,000845,000 1.73%22,317.00867,317.00 889,634.00 07/01/3115,007.7515,007.75 01/01/321,735,000860,000 1.73%15,007.75875,007.75 890,015.50 07/01/327,568.757,568.75 01/01/33875,000875,000 1.73%7,568.75882,568.75 890,137.50 TOTALS 12,920,000$ 1,997,544.50$ 14,917,544.50$ 14,917,544.50$ RICHMOND SANITARY DISTRICT SCHEDULE OF AMORTIZATION OF OUTSTANDING $12,920,000 SANITARY DISTRICT BONDS OF 2012, SERIES A DATED DECEMBER 13, 2012 PRINCIPAL PAYABLE ANNUALLY, JANUARY 1ST INTEREST PAYABLE SEMI-ANNUALLY, JANUARY 1ST AND JULY 1ST SEE ACCOUNTANT'S COMPILATION REPORT - 9 - BOND PAYMENTPRINCIPALINTERESTPERIODYEAR DATEBALANCEPRINCIPALRATEINTERESTTOTALTOTAL 01/01/17739,160$ 43,480$ 0.00%- 43,480.00$ 43,480.00$ 07/01/17- - 01/01/18695,68043,480 0.00%- 43,480.00 43,480.00 07/01/18- - 01/01/19652,20043,480 0.00%- 43,480.00 43,480.00 07/01/19- - 01/01/20608,72043,480 0.00%- 43,480.00 43,480.00 07/01/20- - 01/01/21565,24043,480 0.00%- 43,480.00 43,480.00 07/01/21- - 01/01/22521,76043,480 0.00%- 43,480.00 43,480.00 07/01/22- - 01/01/23478,28043,480 0.00%- 43,480.00 43,480.00 07/01/23- - 01/01/24434,80043,480 0.00%- 43,480.00 43,480.00 07/01/24- - 01/01/25391,32043,480 0.00%- 43,480.00 43,480.00 07/01/25- - 01/01/26347,84043,480 0.00%- 43,480.00 43,480.00 07/01/26- - 01/01/27304,36043,480 0.00%- 43,480.00 43,480.00 07/01/27- - 01/01/28260,88043,480 0.00%- 43,480.00 43,480.00 07/01/28- - 01/01/29217,40043,480 0.00%- 43,480.00 43,480.00 07/01/29- - 01/01/30173,92043,480 0.00%- 43,480.00 43,480.00 07/01/30- - 01/01/31130,44043,480 0.00%- 43,480.00 43,480.00 07/01/31- - 01/01/3286,96043,480 0.00%- 43,480.00 43,480.00 07/01/32- - 01/01/3343,48043,480 0.00%- 43,480.00 43,480.00 TOTALS 739,160$ -$ 739,160.00$ 739,160.00$ RICHMOND SANITARY DISTRICT SCHEDULE OF AMORTIZATION OF OUTSTANDING $739,160 SANITARY DISTRICT BONDS OF 2012, SERIES B DATED DECEMBER 13, 2012 PRINCIPAL PAYABLE ANNUALLY, JANUARY 1ST INTEREST PAYABLE SEMI-ANNUALLY, JANUARY 1ST AND JULY 1ST SEE ACCOUNTANT'S COMPILATION REPORT - 10 - BOND PAYMENTPRINCIPALINTERESTPERIODYEAR DATEBALANCE PRINCIPALRATEINTERESTTOTALTOTAL 01/01/173,120,000$ 1,160,000$ 1.96%30,576.00$ 1,190,576.00$ 1,190,576.00$ 07/01/1719,208.00 19,208.00 01/01/181,960,0001,185,000 1.96%19,208.00 1,204,208.00 1,223,416.00 07/01/187,595.00 7,595.00 01/01/19775,000775,000 1.96%7,595.00 782,595.00 790,190.00 TOTALS 3,120,000$ 84,182.00$ 3,204,182.00$ 3,204,182.00$ RICHMOND SANITARY DISTRICT SCHEDULE OF AMORTIZATION OF OUTSTANDING $3,120,000 SANITARY DISTRICT REFUNDING BONDS OF 2015, SERIES A DATED JUNE 9, 2015 PRINCIPAL PAYABLE ANNUALLY, JANUARY 1ST INTEREST PAYABLE SEMI-ANNUALLY, JANUARY 1ST AND JULY 1ST SEE ACCOUNTANT'S COMPILATION REPORT - 11 - BOND PAYMENTPRINCIPALINTERESTPERIODYEAR DATEBALANCEPRINCIPALRATEINTERESTTOTALTOTAL 01/01/176,820,000$ 66,836.00$ 66,836.00$ 66,836.00$ 07/01/1766,836.00 66,836.00 01/01/186,820,00066,836.00 66,836.00 133,672.00 07/01/1866,836.00 66,836.00 01/01/196,820,000430,000$ 1.96%66,836.00 496,836.00 563,672.00 07/01/1962,622.00 62,622.00 01/01/206,390,0001,230,000 1.96%62,622.00 1,292,622.00 1,355,244.00 07/01/2050,568.00 50,568.00 01/01/215,160,0001,255,000 1.96%50,568.00 1,305,568.00 1,356,136.00 07/01/2138,269.00 38,269.00 01/01/223,905,0001,275,000 1.96%38,269.00 1,313,269.00 1,351,538.00 07/01/2225,774.00 25,774.00 01/01/232,630,0001,300,000 1.96%25,774.00 1,325,774.00 1,351,548.00 07/01/2313,034.00 13,034.00 01/01/241,330,0001,330,000 1.96%13,034.00 1,343,034.00 1,356,068.00 TOTALS 6,820,000$ 714,714.00$ 7,534,714.00$ 7,534,714.00$ RICHMOND SANITARY DISTRICT SCHEDULE OF AMORTIZATION OF OUTSTANDING $6,820,000 SANITARY DISTRICT REFUNDING BONDS OF 2015, SERIES B DATED JUNE 9, 2015 PRINCIPAL PAYABLE ANNUALLY, JANUARY 1ST INTEREST PAYABLE SEMI-ANNUALLY, JANUARY 1ST AND JULY 1ST SEE ACCOUNTANT'S COMPILATION REPORT - 12 - BOND PAYMENT2009A2009B2012A2012B2015A REFUNDING2015B REFUNDINGCOMBINEDYEAR DATESBONDS BONDSBONDSBONDSBONDSBONDSTOTALTOTAL 01/01/1786,815.60$ 626,076.25$ 766,758.00$ 43,480.00$ 1,190,576.00$ 66,836.00$ 2,780,541.85$ 2,780,541.85$ 07/01/1718,686.65 172,732.50 106,092.25 19,208.00 66,836.00 383,555.40 01/01/1887,686.65 637,732.50 771,092.25 43,480.00 1,204,208.00 66,836.00 2,811,035.403,194,590.80 07/01/1817,524.00 163,432.50 100,340.00 7,595.00 66,836.00 355,727.50 01/01/1989,524.00 648,432.50 780,340.00 43,480.00 782,595.00 496,836.00 2,841,207.503,196,935.00 07/01/1916,310.80 153,732.50 94,458.00 62,622.00 327,123.30 01/01/2090,310.80 658,732.50 784,458.00 43,480.00 1,292,622.00 2,869,603.303,196,726.60 07/01/2015,063.90 143,632.50 88,489.50 50,568.00 297,753.90 01/01/2192,063.90 673,632.50 793,489.50 43,480.00 1,305,568.00 2,908,233.903,205,987.80 07/01/2113,766.45 133,032.50 82,391.25 38,269.00 267,459.20 01/01/2292,766.45 688,032.50 797,391.25 43,480.00 1,313,269.00 2,934,939.203,202,398.40 07/01/2212,435.30 121,655.00 76,206.50 25,774.00 236,070.80 01/01/2394,435.30 701,655.00 806,206.50 43,480.00 1,325,774.00 2,971,550.803,207,621.60 07/01/2311,053.60 109,475.00 69,892.00 13,034.00 203,454.60 01/01/2496,053.60 719,475.00 814,892.00 43,480.00 1,343,034.00 3,016,934.603,220,389.20 07/01/249,621.35 96,512.50 63,447.75 169,581.60 01/01/2597,621.35 736,512.50 818,447.75 43,480.00 1,696,061.601,865,643.20 07/01/258,138.55 82,752.50 56,917.00 147,808.05 01/01/2698,138.55 752,752.50 826,917.00 43,480.00 1,721,288.051,869,096.10 07/01/266,622.05 68,347.50 50,256.50 125,226.05 01/01/2799,622.05 778,347.50 835,256.50 43,480.00 1,756,706.051,881,932.10 07/01/275,055.00 52,727.50 43,466.25 101,248.75 01/01/28102,055.00 797,727.50 843,466.25 43,480.00 1,786,728.751,887,977.50 07/01/283,420.55 36,337.50 36,546.25 76,304.30 01/01/29103,420.55 821,337.50 851,546.25 43,480.00 1,819,784.301,896,088.60 07/01/291,735.55 18,675.00 29,496.50 49,907.05 01/01/30104,735.55 848,675.00 859,496.50 43,480.00 1,856,387.051,906,294.10 07/01/3022,317.00 22,317.00 01/01/31867,317.00 43,480.00 910,797.00933,114.00 07/01/3115,007.75 15,007.75 01/01/32875,007.75 43,480.00 918,487.75933,495.50 07/01/327,568.75 7,568.75 01/01/33882,568.7543,480.00926,048.75933,617.50 TOTALS 1,474,683.10$ 11,442,166.25$ 12,247,757.50$ 608,720.00$ 3,204,182.00$ 7,534,714.00$ 36,512,222.85$ 36,512,222.85$ RICHMOND SANITARY DISTRICT SCHEDULE OF COMBINED DEBT SERVICE SEE ACCOUNTANT'S COMPILATION REPORT - 13 - SPECIAL RESIDENTIALCOMMERCIALINDUSTRIALINDUSTRIALTOTAL JANUARY, 201646,885,655 36,282,018 2,543,377 13,828,933 99,539,983 FEBRUARY40,503,276 31,754,807 3,265,247 14,725,858 90,249,188 MARCH46,047,837 38,270,340 3,953,455 14,261,239 102,532,871 APRIL46,122,642 36,804,158 6,163,948 18,698,207 107,788,956 MAY40,887,774 34,680,439 4,330,473 14,453,722 94,352,408 JUNE51,356,014 38,513,457 6,491,595 17,074,055 113,435,121 JULY43,553,832 37,689,852 5,608,894 15,720,790 102,573,367 AUGUST45,386,559 40,536,938 4,901,237 14,767,757 105,592,491 SEPTEMBER44,583,151 36,662,029 5,667,990 17,973,586 104,886,756 OCTOBER42,828,969 36,952,273 5,225,891 15,605,622 100,612,755 NOVEMBER46,373,988 35,245,966 5,520,624 15,268,385 102,408,962 DECEMBER44,142,549 31,888,709 5,219,159 - 81,250,416 TOTAL538,672,245 435,280,986 58,891,890 172,378,154 1,205,223,275 PERCENT44.69%36.12%4.89%14.30%100.00% RICHMOND SANITARY DISTRICT SCHEDULE OF WASTEWATER GALLONS BILLED BY USER CLASS FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2016 WASTEWATER GALLONS BILLED SEE ACCOUNTANT'S COMPILATION REPORT - 14 - (A)DOLLAR GALLONSGALLONSAMOUNT TREATEDBILLEDVARIANCEBILLED JANUARY, 2016324,694,00099,539,983225,154,017 686,762$ FEBRUARY324,376,60090,249,188234,127,412 641,309 MARCH536,827,000102,532,871434,294,129 734,008 APRIL440,820,000107,788,956333,031,044 716,654 MAY324,136,00094,352,408229,783,592 656,454 JUNE223,827,000113,435,121110,391,879 753,657 JULY234,570,800102,573,367131,997,433 693067 AUGUST243,505,000105,592,491137,912,509 724,701 SEPTEMBER195,879,000104,886,75690,992,244 681,979 OCTOBER212,483,300100,612,755111,870,545 677,121 NOVEMBER 180,891,000102,408,96278,482,038 709,049 DECEMBER242,187,50081,250,416160,937,084 616,032 TOTALS3,484,197,200 1,205,223,275 2,278,973,925 8,290,793$ PERCENTAGE100.00%34.59%65.41% (A) PER UTILITY SUPERINTENDENT AS REPORTED ON MRO'S. SCHEDULE OF GALLONS TREATED AND BILLED FOR YEAR ENDED DECEMBER 31, 2016 RICHMOND SANITARY DISTRICT SEE ACCOUNTANT'S COMPILATION REPORT - 15 - ACTUALACTUALACTUAL PROJECTED OPERATING DISBURSEMENTS:201420152016ADJUSTMENTSPROJECTED PLANT: SALARIES AND WAGES1,015,000$ 1,133,866$ 1,051,446$ 152,822 (1)1,204,268$ FUEL OR POWER PURCHASED662,327 799,521 752,017 22,561 (1)774,578 CHEMICALS276,042 222,525 56,723 133,927 (2)190,650 MATERIALS AND SUPPLIES96,540 96,473 89,185 7,703 (2)96,888 REPAIR AND MAINTENANCE145,267 136,032 137,716 1,956 (4)139,672 TRANSPORTATION126,506 110,114 88,844 19,644 (4)108,488 SLUDGE HAULING518,218 1,297,381 242,027 407,973 (3)650,000 ADMINISTRATIVE AND GENERAL: SALARIES AND WAGES209,011 223,023 218,418 54,187 (1)320,239 EMPLOYEE PENSIONS AND BENEFITS236,357 244,856 230,830 37,629 (1)268,459 INSURANCE528,059 586,950 586,131 95,549 (1)681,680 PROMOTIONAL643 498 1,175 (403) (4)772 CONTRACTUAL SERVICES: PROFESSIONAL- 1,290 - - - TECHNICAL230,532 220,305 137,969 58,300 (4)196,269 OTHER578,789 450,915 297,247 - 297,247 IDEM PERMITS8,625 8,625 8,625 - 8,625 TRANSPORTATION16,282 8,310 7,596 3,133 (4)10,729 OFFICE SUPPLIES7,971 8,494 8,392 (106) (4)8,286 OFFICE EXPENSE28,180 49,655 71,685 (21,845) (4)49,840 INTERGOVERNMENTAL CHARGES111,946 111,946 111,926 13 (4)111,939 TRAINING AND EDUCATION8,739 6,504 6,585 8,415 (3)15,000 WATER SHUT OFF RECONNECT FEES91,650 82,485 86,580 325 (4)86,905 MISCELLANOUS EXPENSE6,881 11,299 9,204 (76) (4)9,128 SUB-TOTAL4,903,565 5,811,067 4,200,321 981,707 5,229,662 STORMWATER: SALARIES AND WAGES45,315 45,525 45,015 1,350 (1)46,365 EMPLOYEE PENSIONS AND BENEFITS8,420 8,549 8,394 252 (1)8,646 TRANSPORTATION- 115 - - CONCRETE/ASPHALT5,541 5,145 5,233 73 (4)5,306 MATERIALS AND SUPPLIES6,836 6,972 5,079 1,217 (4)6,296 CONTRACTUAL SERVICES350,620 194,037 91,173 120,770 (4)211,943 POSTAGE- 14,742 28,000 28,000 TRAINING AND EDUCATION2,591 3,227 1,678 2,322 (3)4,000 IDEM PERMITS2,875 2,875 2,875 - (4)2,875 SUB -TOTAL422,198 281,187 187,447 125,984 313,431 TOTAL OPERATING DISBURSEMENTS5,325,763$ 6,092,254$ 4,387,768$ 1,107,691$ 5,543,093$ (1)Inflationary adjustment at 3% for increase in wages and benefits and insurance. (2)Adjusted to reflect the average expense for 2014-2016 and includes a 3% inflationary adjustment. (3)Adjustment per management. (4)Based upon a 3 year average. RICHMOND SANITARY DISTRICT PROJECTED CASH OPERATING AND MAINTENANCE DISBURSEMENTS SEE ACCOUNTANT'S COMPILATION REPORT - 16 - TEST YEARPHASE IPHASE IIPHASE III 2016201820192020 PROPOSED PROJECT AMOUNT10,600,000$ 9,850,000$ 8,500,000$ LESS: CASH FROM 601 TAX FUND- (1,500,000) - LESS: FUNDS ON HAND- (1,000,000) - PROPOSED BOND AMOUNT10,600,000 7,350,000 8,500,000 TEST YEAR CASH OPERATING EXPENSES4,387,768$ 4,387,768$ 4,387,768$ 4,387,768$ PROFORMA ADJUSTMENTS1,107,691 1,107,691 1,107,691 ADJUSTMENT OF O&M DUE TO INFLATION (3%)164,864 334,673 EXTENSIONS AND REPLACEMENTS1,271,387 750,000 750,000 750,000 INTEREST EXISTING MAXIMUM COMBINED ANNUAL DEBT SERVICEYEARS RATE 3,220,389 3,220,389 3,220,389 3,220,389 PROPOSED BOND ISSUE: (2017) $10,600,000202.0%648,261 648,261 648,261 PROPOSED BOND ISSUE: (2018) $7,350,000203.0%494,035 494,035 PROPOSED BOND ISSUE: (2019) $8,500,000204.0%625,445 LESS: CONTRIBUTION FROM TAX FUND(150,000) (150,000) (150,000) NET DEBT SERVICE3,220,389 3,718,650 4,212,685 4,838,130 DEBT SERVICE COVERAGE (150%)1,610,195 1,859,325 2,106,343 2,419,065 TOTAL REVENUE REQUIREMENTS10,489,739$ 11,823,434$ 12,729,351$ 13,837,327$ PRO FORMA OPERATING RECEIPTS SANITARY SEWER REVENUES(1)8,496,986$ 8,496,986$ 8,496,986$ 8,496,986$ PHASE I(1)1,333,695 1,333,695 PHASE II(1)905,917 STORM WATER REVENUES1,478,430 1,478,430 1,478,430 1,478,430 OTHER (INCLUDES SURCHARGES)514,323 514,323 514,323 514,323 TOTAL OPERATING REVENUES10,489,739 10,489,739 11,823,434 12,729,351 REVENUE DEFICIT (SURPLUS)- 1,333,695 905,917 1,107,977 OVERALL PERCENTAGE SANITARY SEWER REVENUE DEFICIT 0.00%15.70%7.66%8.70% DEBT SERVICE COVERAGE189%167%165%164% RICHMOND SANITARY DISTRICT SCHEDULE OF PROJECTED REVENUE REQUIREMENTS AND RATE IMPACTS BASED UPON THE TWELVE MONTHS ENDED DECEMBER 31, 2016 SEE ACCOUNTANT'S COMPILATION REPORT - 17 - EFFECTIVE:12/31/201712/31/201812/31/2019 SEWER USER RATES:CURRENTPHASE IPHASE IIPHASE III 15.70%7.66%8.70% TREATMENT RATE RATE PER 1,000 GALLONS PER MONTH RESIDENTIAL / COMMERCIAL3.88$ 4.49$ 4.83$ 5.25$ INDUSTRIAL3.45$ 3.99$ 4.30$ 4.67$ MONTHLY BASE RATE (ALL CLASSES) WATER METER SIZE 5/8 OR 3/4 INCH16.57$ 19.17$ 20.64$ 22.44$ 1 INCH51.10 59.12 63.65 69.19 1 1/2 INCH113.49 131.31 141.37 153.67 2 INCH192.90 223.19 240.29 261.20 3 INCH438.61 507.47 546.34 593.87 4 INCH759.96 879.27 946.62 1,028.98 UNMETERED CUSTOMERS CHARGE PER MONTH35.97$ 41.62$ 44.81$ 48.71$ INDUSTRIAL SURCHARGES BOD (PER POUND)0.52$ SUSPENDED SOLIDS (PER POUND)0.52$ STORM WATER RATES: RESIDENTIAL: MONTHLY BASE RATE$6.00 NON-RESIDENTIAL: MONTHLY BASE RATE$4.50 MONTHLY VARIABLE RATE - PER ERU$1.50 NOTE: RICHMOND SANITARY DISTRICT SCHEDULE OF CURRENT AND PROPOSED RATES & CHARGES CurrentseweruserrateswereapprovedbytheCommonCouncilinOrdinanceNo.39-2012onOctober1,2012effectiveforall billings beginning July 1, 2013. CurrentstormwaterrateswereapprovedbytheCommonCouncilinOrdinanceNo.10-2009adoptedonMarch16,2009effective beginning May 1, 2009. PROPOSED SEE ACCOUNTANT'S COMPILATION REPORT - 18 -