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HomeMy Public PortalAboutExhibit MSD 86B CIRP Cash vs AppropriationExhibit MSD 86B Table 3-8 (CIRP Expenditure Basis) Wastewater Capital Impr ovement and Replacement Pr ogram Line No. Description Fiscal Year Ending June 30, 2013-2016 201 .1-2016 2011 2012 2013 2014 2015 2016 4 -Year T otal 6 - Year Total $ $ Sanitary Sewer Overflow C ontrol 1 D esign 12,410,000 728,000 42,885,000 72,383,000 48,035,000 13,317,000 176,620,000 189,758,000 2 Construction 54,931,000 18,093,000 55,333,000 41,637,000 101,433,000 169,658,000 368,061,000 441,085,000 3 Subto tal 67,341,000 18,821,000 98,218,000 114,020,000 149,468,000 182,975,000 544,681,000 630,843,000 Co mbined Sewer Overflo w Control 4 Design 13,415,000 5,284,000 19,661,000 11,514,000 12,180,000 26,255,000 69,610,000 88,309,000 5 Con struction 0 2,206,000 7,095,000 47,994,000 51,287,000 9,001,000 115,377,000 117,583,000 6 Subtotal 13,415,000 7,490,000 26,756,000 59,508,000 63,467,000 35,256,000 184,987,000 205,892,000 System Projects 7 Cityshed Improvemen ts 6,283,000 0 16,241,000 12,044,000 6,847,000 8,882,000 44,014,000 50,297,000 8 Asset Man agemen t 15,697,000 23,234,000 46,685,000 51,636,000 23,855,000 40,702,000 162,878,000 201,809,000 9 B&C System 0 0 3,111,000 4,473,000 0 0 7,584,000 7,584,000 10 Subtotal 21,980,000 23,234,000 66,037,000 68,153,000 30,702,000 49,584,000 214,476,000 259,690,000 11 Wastewater Treatment 55,487,000 81,558,000 25,538,000 287,000 1,630,000 0 27,455,000 164,500,000 12 Total 158,223,000 131,103,000 216,549,000 241,968,000 245,267,000 267,815,000 971,599,000 1,260,925,000 Table 3-9 (CIRP E xpenditure Basis) Wastewater Capital Impr ovement Pr ogram Financing Line No Description So urce of Funds 1 Begin ning of Year Balance 2 Revenu e Bond Proceeds 3 State Revolvin g Loan Proceeds 4 Commercial Paper 5 Cash Fin ancing of Construction 6 Grants & Contributions (a) 7 Interest In come (b) 8 Total Funds Available Application of Funds 9 Major Capital Improv emen ts 10 Improvement Fund Projects 11 Issuan ce Costs (c) 12 Reven ue Bond Reserv e Fund (d) 13 Total A pplication of Funds 14 End of Year Fun d Balance 15 Cumulativ e Percentage Debt Fin an ced Fiscal Year Ending June 30, 2013-2016 2011-2016 2011 2012 2013 2014 2015 2016 4 -Year Total 6 - Year Total $ $ $ $ $ $ $ 92,977,300 8,668,600 4,050,600 28,886,100 56,833,300 54,409,900 0 52,020,000 190,000,000 220,000,000 185,000,000 175,000,000 37,000,000 39,999,300 35,000,000 35,000,000 35,000,000 35,000,000 0 0 0 0 0 0 37,250,000 38,438,000 31,677,000 33,267,000 38,308,000 55,850,000 454,800 474,500 1,494,900 516,300 538,600 561,900 2,768,900 2,120,800 1,173,100 1,576,600 1,543,500 1,401,300 4,050,600 770,000,000 140,000,000 0 159,102,000 3,111,700 5,694,500 170,451,000 141,721,200 263,395,600 319,246,000 317,223,400 322,223,100 1,081,958,800 158,223,000 131,103,000 216,549,000 241,968,000 245,267,000 267,815,000 971,599,000 1,265,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 8,000,000 552,200 988,300 2,887,500 3,307,500 2,817,500 2,677,500 11,690,000 1,742,200 3,579,300 13,073,000 15,137,200 12,729,000 12,040,900 52,980,100 161,782,400 137,670,600 234,509,500 262,412,700 262,813,500 284,533,400 1,044,269,100 8,668,600 4,050,600 28,886,100 56,833,300 54,409,900 37,689,700 37,689,700 46. 7% 48. 5% 54.5% 59.9% 62.5% 63.7% (a) In cludes an ticipated contribu tions from the City of Arnold to reserve capacity in the Lower Meramec River Wastewater Treatment Plant . (b) Interest In come is estimated at 1% of the avera ge of the begin ning and end of year balances. (c) Issuance Costs are estimated at 1.40% of the issue amount for Revenue Bonds, 0. 65% of the issue amount f or SRF L oa ns, a nd $25,000 per issue for commercial paper. (d) The requ ired balance in the Revenue Bond R eserve Fund is determin ed to be the max imu m principal and interest payment on seni or debt. 92,977,300 822,020,000 216,999,300 0 234,790,000 4,041,000 10,584,200 1,381,411,800 1,260,925,000 11,265,000 13,230,500 58,301,600 1,343,722,100 37,689,700 Table 3-10 (CIRP Expenditure Basis) Projected Wastewater Debt Service Requirements Existing Proposed Existing Proposed Commercial Fiscal Revenue Revenue SRF SRF Paper Year Bonds Bonds Loans Loans Notes $ $ $ $ $ Total Payments to Sinking Fund 2011 19,290,600 0 19,113,700 0 0 38,404,300 2012 19,415,200 3,281,000 21,311,100 1,711,000 0 45,718,300 2013 19,550,800 16,652,300 21,401,300 4,062,800 0 61,667,200 2014 19,686,000 31,789,500 21,483,500 6,307,900 0 79,266,900 2015 19,834,400 44,518,500 21,355,600 8,553,000 0 94,261,500 2016 19,973,200 56,559,400 21,728,600 10,797,800 0 109,059,000 Payments to Bondholders 2011 19,270,300 0 18,292,600 0 0 37,562,900 2012 19,392,400 1,430,600 20,232,600 500,000 0 41,555,600 2013 19,528,800 8,804,300 21,395,200 3,003,300 0 52,731,600 2014 19,660,900 22,702,300 21,345,500 5,248,400 0 68,957,100 2015 19,811,800 36,877,000 21,545,900 7,493,500 0 85,728,200 2016 19,947,200 49,331,000 21,324,600 9,738,600 0 100,341,400 Table 3-11 (CIRP Expenditure Basis) Comparison of Projected Wastewater Revenue Under Existing Rates With Projected Revenue Requirements Line No. Description 1 Revenue Under Existing Rates (a) Additional Revenue Required Fiscal Revenue Year Increase 2 2012 3 2013 4 2014 5 2015 6 2016 4.3% 8.9% 12.6% 11.7% 13.2% 7 Total Additional Revenue 8 Total Service Charge Revenue 9 Other Operating Revenue 10 Connection Fee Revenue 11 Interest Income - Reserve Funds 12 Interest Income - Operations 13 Interest Income - Arnold 14 Subtotal Other Revenue 15 Total Revenue Months Effective 16 Operation and Maintenance Expense 17 Additional O&M (b) 18 Net Revenue 12 12 12 12 12 Fiscal Year Ending June 30, 2013 - 2016 2011 - 2016 2011 2012 2013 2014 2015 2016 4 -Year Total 6 -Year Total $ $ $ $ $ $ $ $ 213,795,600 212,030,000 211,019,700 210,681,800 210,501,800 210,431,800 842,635,100 1,268,460,700 8,357,500 9,073,800 9,059,300 17,956,000 19,557,000 27,638,900 9,051,600 19,540,300 30,125,800 28,873,800 9,048,600 19,533,800 30,115,800 31,488,200 36,374,800 36,233,300 76,587,100 87,880,500 60,362,000 36,374,800 44,590,800 76,587,100 87,880,500 60,362,000 36,374,800 0 8,357,500 27,029,800 56,255,200 87,591,500 126,561,200 297,437,700 305,795,200 213,795,600 220,387,500 238,049,500 (750,500) 3,382,400 1,402,200 1,250,000 1,288,000 1,327,000 888,800 964,300 1,152,000 30,800 47,300 50,000 650,700 631,000 610,500 266,937,000 407,300 1,367,000 1,421,100 50,400 589,100 298,093,300 336,993,000 1,140,072,800 1,574,255,900 (669,400) (2,044,300) (904,200) 1,727,700 1,408,000 1,450,000 5,552,000 8,090,000 1,678,700 1,914,300 6,166,100 8,019,200 50,600 51,200 202,200 280,300 566,800 543,600 2,310,000 3,591,700 2,069,800 6,313,000 4,541,700 3,834,900 3,034,700 1,914,800 13,326,100 21,708,900 215,865,400 226,700,500 242,591,200 270,771,900 301,128,000 338,907,800 1,153,398,900 1,595,964,800 134,394,800 138,803,800 145,469,000 151,971,700 156,751,700 162,141,600 616,334,000 889,532,600 0 0 112,400 2,159,800 7,484,100 7,942,500 17,698,800 17,698,800 81,470,600 87,896,700 97,009,800 116,640,400 136,892,200 168,823,700 519,366,100 688,733,400 Debt Service 19 Existing Senior Revenue Bonds 19,290,600 19,415,200 19,550,800 19,686,000 19,834,400 19,973,200 79,044,400 117,750,200 20 Proposed Senior Revenue Bonds 0 3,281,000 16,652,300 31,789,500 44,518,500 56,559,400 149,519,700 152,800,700 21 Total Senior Revenue Bonds 19,290,600 22,696,200 36,203,100 51,475,500 64,352,900 76,532,600 228,564,100 270,550,900 22 Existing State Revolving Fund Loans (c) 19,113,700 21,311,100 21,401,300 21,483,500 21,355,600 21,728,600 85,969,000 126,393,800 23 Proposed State Revolving Fund Loans (c) 0 1,711,000 4,062,800 6,307,900 8,553,000 10,797,800 29,721,500 31,432,500 24 Total State Revolving Fund Loans 19,113,700 23,022,100 25,464,100 27,791,400 29,908,600 32,526,400 115,690,500 157,826,300 25 Commercial Paper 0 0 0 0 0 0 0 0 26 Total Debt Service 27 Routine Annual Improvements 28 Cash Financing of Major Improvements 29 Additions to Operating Reserve 30 Net Annual Balance (d) 31 Beginning of Year Balance (e) 32 End of Year Balance (e) Actual Debt Service (f) 33 Senior Bonds 34 SRF Loans Debt Service Coverage 35 Revenue Bonds (g) 36 Total Debt (h) 38,404,300 45,718,300 61,667,200 79,266,900 94,261,500 109,059,000 344,254,600 2,378,600 2,461,900 2,535,700 2,611,800 2,690,100 2,770,900 10,608,500 37,250,000 38,438,000 31,677,000 33,267,000 38,308,000 55,850,000 159,102,000 674,500 738,500 1,126,200 1,418,000 1,673,900 974,600 5,192,700 2,763,200 540,000 3,700 76,700 (41,300) 169,200 208,300 1,696,900 4,460,100 5,000,100 5,003,800 5,080,500 5,039,200 5,000,100 4,460,100 5,000,100 5,003,800 5,080,500 5,039,200 5,208,400 5,208,400 428,377,200 15,449,000 234,790,000 6,605,700 3,511,500 1,696,900 5,208,400 19,270,300 20,823,000 28,333,100 42,363,200 56,688,800 69,278,200 196,663,300 236,756,600 18,292,600 20,732,600 24,398,500 26,593,900 29,039,400 31,063,200 111,095,000 150,120,200 4.23 x 4.22 x 2.17 x 2.12 x 3.42 x 2.75 x 1.84 x 1.69 x 2.41 x 2.44 x 1.60 x 1.68 x (a) Revenue under existing wastewater rates effective July 1, 2010. (b) O&M costs related to anticipated regulatory projects. These projects include improved disinfection at the Missouri River WWTP in 2013 and 2014; expansion of the Missouri River WWTP in 2015; and Capacity, Management, Operation, and Maintenance (CMOM) program activities related to anticipated Consent Decree requirements in 2016, (c) Debt service on State Revolving Fund (SRF) Loans are net of the state's interest subsidy (d) Negative balances indicate need to drawdown available fund balance (e) Does not include funds set aside for a minimum operating reserve equal to 60 days of operating expenses. (f) Payment to Bondholders per Table 3-10, paid through Sinking Fund, (g) The Bond Ordinance requires net revenue to equal or exceed 1.25x actual senior lien debt service. (h) The Bond Ordinance requires net revenue to equal or exceed 1.15x total actual debt service. 2.64 x 1.69 x 2.91 x 1.78 x Table 3-21 (CIRP Expenditure Basis) Comparison of Existing and Proposed Wastewater Rates Line No. Type of Monthly Charge FY 2011 FY 2012 Existing Approved Proposed Wastewater Charges 2011 2012(a) 2013 2014 2015 2016 Base Charge - $Bill 1 Billing & Collection Charge 2.60 2.65 3.25 3.45 3.60 3.75 2 System Availability Charge 8.80 9.20 10.00 11.55 13.40 15.60 3 Total Base (Residential) Service Charge 11.40 11.85 13.25 15.00 17.00 19.35 Compliance Charge - $Bill (b) 4 Tier 1 5 Tier 2 6 Tier 3 7 Tier 4 8 Tier 5 30.85 31.95 23.00 16.00 9.00 2.35 30.85 31.95 40.25 42.60 44.05 45.35 30.85 31.95 85.75 90.70 93.85 96.60 30.85 31.95 - 125.70 133.00 137.55 141.60 30.85 31.95 165.65 175.25 181.30 186.60 Volume Charge 9 Metered - $/Ccf 2.02 2.11 2.32 2.66 3.00 3.43 Unmetered - $Bill 10 Each Room 1.32 1.38 1.51 1.73 1.95 2.23 11 Each Water Closet 4.93 5.15 5.66 6.49 7.32 8.37 12 Each Bath 4.11 4.30 4.72 5.41 6.10 6.97 13 Each Separate Shower 4.11 4.30 4.72 5.41 6.10 6.97 Extra Strength Surcharges - $/ton (b) 14 Suspended Solids over 300 mg/1 15 BOD over 300 mg/1 16 COD over 600 mg/1 Typical Residential Bill - $Bill (c) 17 User Charge Portion 18 Capital Charge Portion 222.62 231.35 231.35 231.35 254.93 265.23 596.72 620.14 620.14 620.14 643.46 670.86 298.36 310.07 310.07 310.07 321.73 335.43 24.28 26.19 27.53 29.95 32.60 34.63 1.26 2.54 4.28 6.33 8.40 12.16 19 Total 27.56 28.73 31.81 36.28 41.00 46.79 Ccf - Hundred Cubic Feet mg/I - milligram per liter (a) 2012 approved rates to be effective July 1, 2011. (b) Applicable only to non-residential customers. (c) Based on contributed wastewater volume of 8 Ccf per month.