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HomeMy Public PortalAbout724677DEBTSERVICE FUNDSThe Debt Service Funds consist of Wastewater Revenue Bonds Funds. In February 2004, St. Louis votersauthorized the use of $500 million in bonds to fund the District’s wastewater capital improvement program.The last of the authorized bonds were issued in FY09.In 2008, the voters approved an additional $275 million in Wastewater Revenue Bonds to further fund thewastewater capital improvement program. The last of the bonds in this authorization were issued in FY12.In June 2012 MSD received authorization from the voters for an additional $945 million of revenue bondsto be issued over four years.125 METROPOLITAN ST. LOUIS SEWER DISTRICTCHANGES IN FUND BALANCEDEBT SERVICE FUNDSCONSOLIDATEDActualActualBudget Forecast Budget Projected ProjectedFY2012 FY2013 FY2014 FY2014 FY2015 FY2016 FY2017FUND BALANCE B.O.P.34,395,643$ 39,892,760$ 41,421,968$ 47,140,133$ 60,787,654$ 74,930,357$ 106,962,372$ Revenues: Revenue Bonds 3,497,063$ 12,069,309$ 10,000,000$ 9,548,268$ 13,910,692$ 31,721,500$ 8,438,750$ Taxes4 - - 2 - - - Interest on Investments504,895 (54,368) 158,887 529,344 231,960 310,464 473,700 Miscellaneous- - 1,742,160 871,080 - - - Total Revenues4,001,962$ 12,014,941$ 11,901,047$ 10,948,694$ 14,142,652$ 32,031,964$ 8,912,450$ Expenditures: Principal Payments19,540,042$ 21,845,839$ 19,118,000$ 19,117,000$ 20,252,200$ 29,547,000$ 34,916,700$ Interest Payments21,303,075 29,586,110 37,241,813 35,503,595 44,297,076 52,504,260 59,700,165 Other1,820,724 1,623,710 1,100,000 1,592,576 2,163,764 2,307,474 2,405,678 Total Expenditures42,663,841$ 53,055,659$ 57,459,813$ 56,213,171$ 66,713,040$ 84,358,734$ 97,022,543$ Net Operating Income (Loss)(38,661,879)$ (41,040,718)$ (45,558,766)$ (45,264,477)$ (52,570,388)$ (52,326,770)$ (88,110,093)$ Interfund Transfers44,158,996$ 48,288,091$ 58,912,000$ 58,911,998$ 66,713,091$ 84,358,785$ 97,022,581$ Increase (Decrease) in Fund Bal.5,497,117$ 7,247,373$ 13,353,234$ 13,647,521$ 14,142,703$ 32,032,015$ 8,912,488$ Percentage of Change 16%18%32%29%23%43%8%FUND BALANCE E.O.P.39,892,760$ 47,140,133$ 54,775,202$ 60,787,654$ 74,930,357$ 106,962,372$ 115,874,860$ 126 METROPOLITAN ST. LOUIS SEWER DISTRICTCHANGES IN FUND BALANCEGENERAL OBLIGATION BOND PRINCIPAL INTEREST FUNDSMISSISSIPPI RIVER PRINCIPAL INTEREST - FUND 2205ActualActualBudget Forecast Budget Projected ProjectedFY2012 FY2013 FY2014 FY2014 FY2015 FY2016 FY2017FUND BALANCE B.O.P.-$ -$ -$ -$ -$ -$ -$ Revenues: Taxes4$ -$ -$ 2$ -$ -$ -$ Total Revenues4$ -$ -$ 2$ -$ -$ -$ Net Operating Income (Loss)4$ -$ -$ 2$ -$ -$ -$ Interfund Transfers(4)$ -$ -$ (2)$ -$ -$ -$ Increase (Decrease) in Fund Bal.-$ -$ -$ -$ -$ -$ -$ Percentage of Change N/AN/AN/AN/AN/AN/AN/AFUND BALANCE E.O.P.-$ -$ -$ -$ -$ -$ -$ 127 METROPOLITAN ST. LOUIS SEWER DISTRICTCHANGES IN FUND BALANCEREVENUE BOND SERVICE FUNDSWASTEWATER REVENUE BOND SERVICE FUND - FUND 2804ActualActualBudget Forecast Budget Projected ProjectedFY2012 FY2013 FY2014 FY2014 FY2015 FY2016 FY2017FUND BALANCE B.O.P.21,015,917$ 23,985,297$ 25,579,428$ 19,691,600$ 19,118,491$ 19,199,344$ 19,280,190$ Revenues: Interest on Investments294,356$ 47,568$ 57,577$ 200,710$ 80,844$ 80,844$ 80,844$ Total Revenues294,356$ 47,568$ 57,577$ 200,710$ 80,844$ 80,844$ 80,844$ Expenditures: Principal Payments19,540,042$ 20,205,839$ 17,432,000$ 17,432,000$ 16,372,200$ 19,377,000$ 21,131,700$ Interest Payments12,730,569 9,161,657 6,262,617 5,458,343 6,084,602 6,068,286 5,919,441 Other1,369,365 1,643,996 1,100,000 1,578,476 2,147,314 2,291,024 2,389,228 Total Expenditures33,639,976$ 31,011,492$ 24,794,617$ 24,468,819$ 24,604,116$ 27,736,310$ 29,440,369$ Net Operating Income (Loss)(33,345,620)$ (30,963,924)$ (24,737,040)$ (24,268,109)$ (24,523,272)$ (27,655,466)$ (29,359,525)$ Interfund Transfers36,315,000$ 26,670,227$ 23,695,000$ 23,695,000$ 24,604,125$ 27,736,312$ 29,440,371$ Increase (Decrease) in Fund Bal.2,969,380$ (4,293,697)$ (1,042,040)$ (573,109)$ 80,853$ 80,846$ 80,846$ Percentage of Change 14%-18%-4%-3%0%0%0%FUND BALANCE E.O.P.23,985,297$ 19,691,600$ 24,537,388$ 19,118,491$ 19,199,344$ 19,280,190$ 19,361,036$ 128 METROPOLITAN ST. LOUIS SEWER DISTRICTCHANGES IN FUND BALANCEREVENUE BOND SERVICE FUNDSWASTEWATER REVENUE BOND SERVICE FUND - FUND 2808ActualActualBudget Forecast Budget Projected ProjectedFY2012 FY2013 FY2014 FY2014 FY2015 FY2016 FY2017FUND BALANCE B.O.P.6,743,150$ 6,818,932$ 6,811,683$ 6,253,612$ 6,315,147$ 6,346,657$ 6,378,167$ Revenues: Interest on Investments76,132$ 12,026$ 17,332$ 63,885$ 31,500$ 31,500$ 31,500$ Total Revenues76,132$ 12,026$ 17,332$ 63,885$ 31,500$ 31,500$ 31,500$ Expenditures: Interest Payments2,902,000$ 2,902,000$ 2,902,000$ 2,902,000$ 2,902,000$ 2,902,000$ 2,902,000$ Other350 4,350 - 2,350 2,350 2,350 2,350 Total Expenditures2,902,350$ 2,906,350$ 2,902,000$ 2,904,350$ 2,904,350$ 2,904,350$ 2,904,350$ Net Operating Income (Loss)(2,826,218)$ (2,894,324)$ (2,884,668)$ (2,840,465)$ (2,872,850)$ (2,872,850)$ (2,872,850)$ Interfund Transfers2,902,000$ 2,329,004$ 2,902,000$ 2,902,000$ 2,904,360$ 2,904,360$ 2,904,360$ Increase (Decrease) in Fund Bal.75,782$ (565,320)$ 17,332$ 61,535$ 31,510$ 31,510$ 31,510$ Percentage of Change 1%-8%0%1%0%0%0%FUND BALANCE E.O.P.6,818,932$ 6,253,612$ 6,829,015$ 6,315,147$ 6,346,657$ 6,378,167$ 6,409,677$ 129 METROPOLITAN ST. LOUIS SEWER DISTRICTCHANGES IN FUND BALANCEREVENUE BOND SERVICE FUNDSWASTEWATER REVENUE BOND SERVICE FUND - FUND 2810ActualActualBudget Forecast Budget Projected ProjectedFY2012 FY2013 FY2014 FY2014 FY2015 FY2016 FY2017FUND BALANCE B.O.P.2,763,138$ 2,818,545$ 1,573,420$ 2,806,222$ 2,835,062$ 2,849,203$ 2,863,344$ Revenues: Interest on Investments56,192$ (7,038)$ 7,133$ 31,625$ 14,136$ 14,136$ 14,136$ Total Revenues56,192$ (7,038)$ 7,133$ 31,625$ 14,136$ 14,136$ 14,136$ Expenditures: Interest Payments1,632,435$ 1,632,435$ 1,632,435$ 1,632,435$ 1,632,435$ 1,632,435$ 1,632,435$ Other350 4,850 - 2,350 2,350 2,350 2,350 Total Expenditures1,632,785$ 1,637,285$ 1,632,435$ 1,634,785$ 1,634,785$ 1,634,785$ 1,634,785$ Net Operating Income (Loss)(1,576,593)$ (1,644,323)$ (1,625,302)$ (1,603,160)$ (1,620,649)$ (1,620,649)$ (1,620,649)$ Interfund Transfers1,632,000$ 1,632,000$ 1,632,000$ 1,632,000$ 1,634,790$ 1,634,790$ 1,634,790$ Increase (Decrease) in Fund Bal.55,407$ (12,323)$ 6,698$ 28,840$ 14,141$ 14,141$ 14,141$ Percentage of Change 2%0%0%1%0%0%0%FUND BALANCE E.O.P.2,818,545$ 2,806,222$ 1,580,118$ 2,835,062$ 2,849,203$ 2,863,344$ 2,877,485$ 130 METROPOLITAN ST. LOUIS SEWER DISTRICTCHANGES IN FUND BALANCEREVENUE BOND SERVICE FUNDSWASTEWATER REVENUE BOND SERVICE FUND - FUND 2812ActualActualBudget Forecast Budget Projected ProjectedFY2012 FY2013 FY2014 FY2014 FY2015 FY2016 FY2017FUND BALANCE B.O.P.3,873,438$ 3,981,874$ 3,957,437$ 3,996,147$ 4,710,230$ 4,734,388$ 4,758,534$ Revenues: Interest on Investments34,226$ 18,563$ 16,560$ (31,122)$ 24,144$ 24,144$ 24,144$ Miscellaneous- - 1,742,160 871,080 - - - Total Revenues34,226$ 18,563$ 1,758,720$ 839,958$ 24,144$ 24,144$ 24,144$ Expenditures: Interest Payments3,235,440$ 3,235,440$ 3,235,440$ 3,360,875$ 3,360,876$ 3,360,876$ 3,360,876$ Other350 4,850 - - 2,350 2,350 2,350 Total Expenditures3,235,790$ 3,240,290$ 3,235,440$ 3,360,875$ 3,363,226$ 3,363,226$ 3,363,226$ Net Operating Income (Loss)(3,201,564)$ (3,221,727)$ (1,476,720)$ (2,520,917)$ (3,339,082)$ (3,339,082)$ (3,339,082)$ Interfund Transfers3,310,000$ 3,236,000$ 3,235,000$ 3,235,000$ 3,363,240$ 3,363,228$ 3,363,234$ Increase (Decrease) in Fund Bal.108,436$ 14,273$ 1,758,280$ 714,083$ 24,158$ 24,146$ 24,152$ Percentage of Change 3%0%44%18%1%1%1%FUND BALANCE E.O.P.3,981,874$ 3,996,147$ 5,715,717$ 4,710,230$ 4,734,388$ 4,758,534$ 4,782,686$ 131 METROPOLITAN ST. LOUIS SEWER DISTRICTCHANGES IN FUND BALANCEREVENUE BOND SERVICE FUNDSWASTEWATER REVENUE BOND SERVICE FUND - FUND 2816ActualActualBudget Forecast Budget Projected ProjectedFY2012 FY2013 FY2014 FY2014 FY2015 FY2016 FY2017FUND BALANCE B.O.P.-$ 2,288,112$ 3,500,000$ 2,288,374$ 2,325,036$ 2,336,616$ 2,348,196$ Revenues: Revenue Bonds 3,497,063$ -$ -$ -$ -$ -$ -$ Interest on Investments43,989 512 5,831 38,712 11,580 11,580 11,580 Total Revenues3,541,052$ 512$ 5,831$ 38,712$ 11,580$ 11,580$ 11,580$ Expenditures: Principal Payments-$ 1,640,000$ 1,686,000$ 1,685,000$ 1,755,000$ 1,845,000$ 1,915,000$ Interest Payments802,631 2,239,900 2,190,133 2,190,700 2,123,300 2,035,550 1,943,300 Other450,309 350 - 2,350 2,350 2,350 2,350 Total Expenditures1,252,940$ 3,880,250$ 3,876,133$ 3,878,050$ 3,880,650$ 3,882,900$ 3,860,650$ Net Operating Income (Loss)2,288,112$ (3,879,738)$ (3,870,302)$ (3,839,338)$ (3,869,070)$ (3,871,320)$ (3,849,070)$ Interfund Transfers-$ 3,880,000$ 3,876,000$ 3,876,000$ 3,880,650$ 3,882,900$ 3,860,655$ Increase (Decrease) in Fund Bal.2,288,112$ 262$ 5,698$ 36,662$ 11,580$ 11,580$ 11,585$ Percentage of Change N/A0%0%2%0%0%0%FUND BALANCE E.O.P.2,288,112$ 2,288,374$ 3,505,698$ 2,325,036$ 2,336,616$ 2,348,196$ 2,359,781$ 132 METROPOLITAN ST. LOUIS SEWER DISTRICTCHANGES IN FUND BALANCEREVENUE BOND SERVICE FUNDSWASTEWATER REVENUE BOND SERVICE FUND - FUND 2817ActualActualBudget Forecast Budget Projected ProjectedFY2012 FY2013 FY2014 FY2014 FY2015 FY2016 FY2017FUND BALANCE B.O.P.-$ -$ -$ 12,104,178$ 12,273,139$ 12,273,144$ 12,273,144$ Revenues: Revenue Bonds -$ 12,069,309$ -$ -$ -$ -$ -$ Interest on Investments- (130,446) 54,454 171,536 - - - Total Revenues-$ 11,938,863$ 54,454$ 171,536$ -$ -$ -$ Expenditures: Principal Payments-$ -$ -$ -$ -$ 5,000,000$ 5,300,000$ Interest Payments- 7,270,688 10,554,225 10,554,225 10,554,225 10,554,225 10,354,225 Other- - - 2,350 2,350 2,350 2,350 Total Expenditures-$ 7,270,688$ 10,554,225$ 10,556,575$ 10,556,575$ 15,556,575$ 15,656,575$ Net Operating Income (Loss)-$ 4,668,175$ (10,499,771)$ (10,385,039)$ (10,556,575)$ (15,556,575)$ (15,656,575)$ Interfund Transfers-$ 7,436,003$ 10,554,000$ 10,554,000$ 10,556,580$ 15,556,575$ 15,656,580$ Increase (Decrease) in Fund Bal.-$ 12,104,178$ 54,229$ 168,961$ 5$ -$ 5$ Percentage of Change N/AN/AN/A1%0%0%0%FUND BALANCE E.O.P.-$ 12,104,178$ 54,229$ 12,273,139$ 12,273,144$ 12,273,144$ 12,273,149$ 133 METROPOLITAN ST. LOUIS SEWER DISTRICTCHANGES IN FUND BALANCEREVENUE BOND SERVICE FUNDSWASTEWATER REVENUE BOND SERVICE FUND - FUND 2818ActualActualBudget Forecast Budget Projected ProjectedFY2012 FY2013 FY2014 FY2014 FY2015 FY2016 FY2017FUND BALANCE B.O.P.-$ -$ -$ -$ 20,459$ 20,570$ 20,685$ Revenues: Interest on Investments-$ 4,447$ -$ 272$ 108$ 108$ 108$ Total Revenues-$ 4,447$ -$ 272$ 108$ 108$ 108$ Expenditures: Principal Payments-$ -$ -$ -$ 2,125,000$ 2,325,000$ 2,570,000$ Interest Payments- 3,143,990 6,777,463 6,777,463 6,777,463 6,713,713 6,620,713 Other- (34,686) - 2,350 2,350 2,350 2,350 Total Expenditures-$ 3,109,304$ 6,777,463$ 6,779,813$ 8,904,813$ 9,041,063$ 9,193,063$ Net Operating Income (Loss)-$ (3,104,857)$ (6,777,463)$ (6,779,541)$ (8,904,705)$ (9,040,955)$ (9,192,955)$ Interfund Transfers-$ 3,104,857$ 6,800,000$ 6,800,000$ 8,904,816$ 9,041,070$ 9,193,065$ Increase (Decrease) in Fund Bal.-$ -$ 22,537$ 20,459$ 111$ 115$ 110$ Percentage of Change N/AN/AN/AN/A1%1%1%FUND BALANCE E.O.P.-$ -$ 22,537$ 20,459$ 20,570$ 20,685$ 20,795$ 134 METROPOLITAN ST. LOUIS SEWER DISTRICTCHANGES IN FUND BALANCEREVENUE BOND SERVICE FUNDSWASTEWATER REVENUE BOND SERVICE FUND - FUND 2819ActualActualBudget Forecast Budget Projected ProjectedFY2012 FY2013 FY2014 FY2014 FY2015 FY2016 FY2017FUND BALANCE B.O.P.-$ -$ -$ -$ 13,190,090$ 13,259,743$ 13,338,368$ Revenues: Revenue Bonds -$ -$ 10,000,000$ 9,548,268$ -$ -$ -$ Interest on Investments- - - 53,726 69,648 78,600 83,232 Total Revenues-$ -$ 10,000,000$ 9,601,994$ 69,648$ 78,600$ 83,232$ Expenditures: Principal Payments-$ -$ -$ -$ -$ 1,000,000$ 3,000,000$ Interest Payments- - 3,687,500 2,627,554 7,112,175 7,112,175 7,092,175 Other- - - 2,350 2,350 2,350 2,350 Total Expenditures-$ -$ 3,687,500$ 2,629,904$ 7,114,525$ 8,114,525$ 10,094,525$ Net Operating Income (Loss)-$ -$ 6,312,500$ 6,972,090$ (7,044,877)$ (8,035,925)$ (10,011,293)$ Interfund Transfers-$ -$ 6,218,000$ 6,218,000$ 7,114,530$ 8,114,550$ 10,094,526$ Increase (Decrease) in Fund Bal.-$ -$ 12,530,500$ 13,190,090$ 69,653$ 78,625$ 83,233$ Percentage of Change N/AN/AN/AN/A1%1%1%FUND BALANCE E.O.P.-$ -$ 12,530,500$ 13,190,090$ 13,259,743$ 13,338,368$ 13,421,601$ 135 METROPOLITAN ST. LOUIS SEWER DISTRICTCHANGES IN FUND BALANCEREVENUE BOND SERVICE FUNDSWASTEWATER REVENUE BOND SERVICE FUND - FUND PROPOSEDActualActualBudget Forecast Budget Projected ProjectedFY2012 FY2013 FY2014 FY2014 FY2015 FY2016 FY2017FUND BALANCE B.O.P.-$ -$ -$ -$ -$ 13,910,692$ 45,701,744$ Revenues: Revenue Bonds -$ -$ -$ -$ 13,910,692$ 31,721,500$ 8,438,750$ Interest on Investments- - - - - 69,552 228,156 Total Revenues-$ -$ -$ -$ 13,910,692$ 31,791,052$ 8,666,906$ Expenditures: Principal Payments-$ -$ -$ -$ -$ -$ 1,000,000$ Interest Payments- - - - 3,750,000 12,125,000 19,875,000 Total Expenditures-$ -$ -$ -$ 3,750,000$ 12,125,000$ 20,875,000$ Net Operating Income (Loss)-$ -$ -$ -$ 10,160,692$ 19,666,052$ (12,208,094)$ Interfund Transfers-$ -$ -$ -$ 3,750,000$ 12,125,000$ 20,875,000$ Increase (Decrease) in Fund Bal.-$ -$ -$ -$ 13,910,692$ 31,791,052$ 8,666,906$ Percentage of Change N/AN/AN/AN/AN/A229%19%FUND BALANCE E.O.P.-$ -$ -$ -$ 13,910,692$ 45,701,744$ 54,368,650$ 136