HomeMy Public PortalAboutExhibit MSD 83 - Revised Rate Report Comparison Slide (Appendix 7.7.1) Renumbered See Exhibit MSD 1CREVISED ‐ March 12, 2015Rate Report Comparison SlideAnalysis and Source InformationReplaces Schedule in Appendix 7.7.1 of the Rate Change Proposal Dated February 26, 2015ExplanationsSourcesActual (FY13 ‐ FY14) + Forecast (FY15) + Budget (FY16) Rate Report VarianceFY13 ‐ 16Rate Report Revenue:Service Charge Wastewater Revenue1,083,884$1,089,664$ (5,780)$ Current volume projections slightly below those of the rate report. Table 5‐1; line 1 Service Charge Stormwater Revenue5,4715,40763Table 5‐1; line 8 Bonds677,001 895,000 (217,999) CIRP project appropriations came in lower while bond premiums were higher than anticipated. Table 3‐9; lines 2‐3 Ad Valorem Taxes101,326 101,997 (671)Assessed valuations lower than rate report projections and voluntary Table 5‐1; lines 9, 10, 15 Other Revenue35,510 60,313 (24,802) $18.4 M from SSC Adjustments (Actuals in SSC WW Rev, Rate Model in Other) + $6.8 M for BABs tax credits (Actually reported as an offset to Interest Expense.) Table 5‐1; lines 2‐6, 11‐13, 16 Total Revenue1,903,191$2,152,381$ (249,189)$ Expense:Total Operating Budget699,968$ 716,128$ (16,160)$ G&A Expenses favorable, slightly offset by unfavorable capital outlay.Table 2‐1; lines 8, 16, 20, 22. Table 3‐7; line 17 Bond Premiums (40,971) ‐ (40,971) Debt Service234,353$ 311,779$ (77,427)$ Refunding, better than expected rates, lower than expected issuances. Table 3‐11; line 26 WW CIRP and Expense projects889,632 971,015 (81,383) CIRP project appropriations came in lower than anticipated.Table 3‐9; lines 9 and 10. Table 3‐8; line 9. SW CIRP and Expense projects35,246 12,314 22,932 Spend down of OMCI fund balances.Table 5‐3; line 21. Table 3‐8; line 10 924,878 983,329 (58,451) Total Expense1,818,228$2,011,236$ (193,008)$ (3,979)$ (40,729)$ 36,750$ This has been recalculated due to the successful implementation of the collections strategy. Table 2-3; line 2 Subtotal CIRP Bad Debt ProvisionFiscal Years 13 ‐ 16 (in $1,000s)Exhibit MSD 83