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Projected Operating Results — Existing Rates
<br /> Debt Service
<br /> ERMU has current debt service on outstanding debt including the recent 2016 bond issue.
<br /> ERMU is also planning a new$10,000,000 bond issue in 2018 to support budgeted capital
<br /> improvements. ERMU also makes annual payments on a note associated with the landfill
<br /> gas project.
<br /> Projected Operating Results — Existing Rates
<br /> Based on the assumptions outlined above, the resulting projected operating results
<br /> assuming continued application of the existing retail rates are summarized in Table 2-3
<br /> for the electric utility. A summary presentation of the operating results is shown in Exhibit
<br /> 2-A. The results below are provided as an indication of revenue needs in the future, they
<br /> do not represent ERMU policy or historical practice regarding allowable negative results.
<br /> Table 2-3
<br /> Projected Operating Results
<br /> Existing Rates
<br /> Year 2016 2017 2018 2019 2020
<br /> Operating Revenues $34,709,120 $36,368,407 $37,805,232 $39,196,921 $40,012,175
<br /> Less Operating (33,898,794) (35,363,866) (37,481,037) (39,992,043) (41,865,483)
<br /> Expenses
<br /> Plus Non Operating 427,832 (185,885) (156,113) (532,743) (501,787)
<br /> Revenues (Expenses)
<br /> Less City Transfers (1,168,366) (1,213,507) (1,259,039) (1,288,239) (1,317,507)
<br /> Change in Net Position $69,791 $(394,850) $(1,090,957) $(2,616,103) $(3,672,601)
<br /> Net Position as
<br /> 0.2% -1.1% -2.9% -6.7% -9.2%
<br /> Percent of Revenues
<br /> - 5 -
<br /> R9
<br />
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