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Exhibit MSD 53 - Rate Model GuideMetropolitan St. Louis Sewer District Rate Proposal FY 2021 – FY 2024 Financial Planning & Rate Model The Rate Proposal submitted to the Rate Commission by the Metropolitan St. Louis Sewer District (MSD) to introduce and recommend sewer and stormwater rates and charges for FY 2021 through FY 2024 is supported by a comprehensive financial planning, cost of service, and rate model (Model). The model was developed by Raftelis Financial Consultants (RFC) with input and guidance from MSD Staff. The detail and support for the tables, figures and recommendations presented in the Rate Proposal can be found in the electronic model. Discussion regarding the content and key variables can be found in the Rate Proposal. The following tables describe the structure and content found on each worksheet in the Model. Portions of the Model with key data inputs have been protected to ensure that no changes are made which adversely impact the integrity and functionality of the Model. All formulas can be seen in the Model. The model has been setup to allow for modeling of alternative financial planning rate adjustments, capital plan investment and funding mechanisms, and operating cost escalators. Guidelines for Making Changes to the Model 1. Throughout the model, cells that are shaded in blue indicate locations for controls and/or inputs. 2. The ‘Sanitary Dashboard’ provides a place to adjust anticipated customer and volume growth rates. By selecting a cell for FY21-FY28 and using the up/down arrows, users can adjust the proposed rates and see the approximate impact in the charts above (cells O55:V56). 3. The ‘Sanitary Dashboard’ provides a place to adjust anticipated customer and volume growth rates. By selecting a cell for FY21-FY28 and using the up/down arrows, users can adjust the proposed escalation and see the approximate impact in the charts above (O63:V65). 4. Bottom line adjustments to operating costs can also be analyzed on the ‘Sanitary Dashboard’ row 67. 5. The ‘CIRP Dashboard’ allows for analysis of CIRP spending and financing options. a. CIRP Financing can be analyzed by changing PAYGO and debt funding levels. To manually adjust PAYGO funding levels, change the entries in row 68. Alternatively, row 68 entries can be deleted and driven from the percentages indicated in row 67 which calculate a percentage of the annual CIRP spending need. b. The Model is set up with debt projections provided by PFM. When changing CIRP Financing, it is important to first switch the entry in row 89 from “PFM” to “Model” (this activates the debt calculation module in the Model). Users can then adjust bond issuance amounts and financing assumptions (term, rate, etc.).