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$14,000,000
<br />$12,000,000
<br />$10,000,000
<br />$8,000,000
<br />$6,000,000
<br />$4,000,000
<br />$2,000,000
<br />Sewer Fund Cash Flow
<br />2011 2011 Receipts 2012 2012 Receipts 2013 2013 Receipts 2014 2014 Receipts
<br />Disbursements Disbursements Disbursements Disbursements
<br />■ Operating costs ■ Debt payments (including related transfers) ■ Other (capital, interfund)
<br />■ Operating receipts ■ Other (connection fees, interest, bond proceeds)
<br />$16,000,000
<br />$14,000,000
<br />$12,000,000
<br />$10,000,000
<br />$8,000,000
<br />$6,000,000
<br />$4,000,000
<br />$2,000,000
<br />Sewer Fund Cash Balance
<br />2011 2012 2013 2014
<br />Unrestricted —dr- Minimum target balance (following year debt service plus 6 months of operating expenses)
<br />2011 2012 2013 2014
<br />Bonds payable $ 905,000 $ 735,000 $ 560,000 $ 10,000,000
<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 />each of the years shown above.
<br />• Operating revenues (full accrual) increased $120,865 in 2014 compared to 2013.
<br />• Within other operating receipts, connection fees decreased approximately $68,000 from 2013 to 2014, however, still
<br />came in at $560,581. These fees ultimately provide for current debt service and future expansion of the system. In
<br />addition there was a significant market value adjustment on investments.
<br />• The City issued $10,000,000 of 2014B G.O. Sewer Revenue Bonds to finance the construction of
<br />a new Wastewater Treatment Plant. The cash balance of $14,348,133 includes unspent bond People
<br />proceeds. +WoCeSS®
<br />We recommend that the rates be reviewed annually to ensure that they are sufficient to cover operating costs, qo
<br />annual scheduled debt payments, and planned project costs. Beyq dtne
<br />-14- NuifiberS
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