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Sewer Fund Cash Flow
<br /> $2,000,000
<br /> $1,800,000
<br /> $1,600,000
<br /> $1,400,000
<br /> $1,200,000
<br /> $1,000,000
<br /> $800,000
<br /> $600,000
<br /> $400,000
<br /> $200,000
<br /> $-
<br /> 2010 2010 Receipts 2011 2011 Receipts 2012 2012 Receipts 2013 2013 Receipts
<br /> Disbursements Disbursements Disbursements Disbursements
<br /> ■Operating costs ■Debt payments(including related transfers) ■Other(capital,interfund) ■Operating receipts ■Other(connection fees,interest)
<br /> Sewer Fund Cash Balance
<br /> $6,000,000 $5,446,672
<br /> $5,000,000 $4,550,144
<br /> $5,007,654 $5,287,842
<br /> $4,000,000
<br /> $3,000,000
<br /> $2,000,000
<br /> $1,000,000
<br /> 2010 2011 2012 2013
<br /> Unrestricted (Minimum target balance(following year debt service plus 6 months of operating expenses)
<br /> 2010 2011 2012 2013
<br /> Bonds payable,net of premium $ 1,065,000 $ 905,000 $ 735,000 $ 560,000
<br /> Some of the items with significant changes are highlighted below:
<br /> • Except for 2013,operating receipts(blue)have been sufficient to cover operating costs(grey)and debt payments(green)for
<br /> all four years shown above.
<br /> • Contributing to the significant increase in operating costs in 2013 is timing of payments related to year-end accounts
<br /> payable.Aside from the change in accounts payable,the net increase in operating costs from 2012 to 2013 would be
<br /> roughly$100,000_
<br /> • Operating revenues(full accrual)increased$77,336 in 2013 compared to 2012;however,accounts receivable at
<br /> year-end increased$110,361.In regards to operating receipts,the result is less cash received from users_
<br /> • Within other operating receipts,connection fees increased approximately $310,000 from 2012 to 2013.These fees ultimately
<br /> provide for current debt service and future expansion of the system. In addition there was a market value adjustment on
<br /> investments.
<br /> • The minimum target cash balance in 2013 includes an additional$380,000 of bond principal to be prepaid People
<br /> in 2014 on the 2005B G.O.Sewer Revenue Refunding bonds. Pe0
<br /> +Process®
<br /> We recommend that the rates be reviewed annually to ensure that they are sufficient to cover operating costs,
<br /> annual scheduled debt payments,and planned project costs_ Be-vg
<br /> eyondthe
<br /> -14- Numbers
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