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Summary Memorandum <br />Re: Sewer Revenue Adequacy <br />October 21, 2021 <br />Table 3: City of Elk River Sewer O&M Projections 2022-2026 <br />City of Elk River Projected Projected Projected Projected Projected <br />Budget Line Items 2022 2023 2024 2025 2026 <br />Personal Services $760,300 $790,712 $814,433 $838,866 $864,032 <br />Supplies $279,500 $290,680 $299,400 $308,382 $317,634 <br />Services & Charges $803,350 $835,484 $860,549 $886,365 $912,956 <br />Transfer Out $165,000 $165,000 $165,000 $165,000 $165,000 <br />Total O&M Budget $2,008,150 $2,081,876 $2,139,382 $2,198,614 $2,259,622 <br />Information provided by the City indicates two debt issuances, the most recent of which will be <br />applied to pay off the first issuance in early 2022. Table 4 summarizes the projected annual debt <br />service revenue requirements for the Sewer Utility. <br />Table 4: City of Elk River Sewer Debt Service Projections 2022-2026 <br />City of Elk River Debt Projected Projected Projected Projected Projected <br />Issuances 2022 2023 2024 2025 2026 <br />2014B $608,650 $- $- $- $- <br />2020C $- $592,000 $586,800 $591,600 $591,300 <br />Annual Debt Service <br /> $608,650 $592,000 $586,800 $591,600 $591,300 <br />Payments <br />The City budgets annually for equipment replacement, along with capital projects identified in <br />the Sewer CIP. These items compose the annual rate-funded capital portion of the Capital- <br />related revenue requirements and are show in Table 5. <br /> <br /> <br />Project Number Page 4 of 20 <br />Think Big. Go Beyond. www.ae2s.com <br /> <br />