05-03-2021 Council Work Session Packet

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City of Lino Lakes, Minnesota P a g e | 16 3. Water Utility Projected Water Rate Adjustment Projected Change 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00% 2022-2031 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 Operating Revenues Charges for Services (volume)1,102,000 1,237,827 1,263,668 1,289,509 1,315,350 1,341,192 1,367,033 1,392,874 1,418,716 1,444,557 1,470,398 Hook-up Charges 36,500 41,250 41,250 41,250 41,250 41,250 41,250 41,250 41,250 41,250 41,250 Charges for Services (fixed/REU)281,080 287,680 441,420 601,760 768,700 785,200 801,700 818,200 834,700 851,200 867,700 Water Meter Sales 50,000 78,260 79,825 81,421 83,050 84,711 86,405 88,133 89,896 91,693 93,527 Other Revenue 5.00%2,500 2,625 2,756 2,894 3,039 3,191 3,350 3,518 3,694 3,878 4,072 Total Operating Revenue 1,472,080 1,647,641 1,828,919 2,016,834 2,211,389 2,255,543 2,299,738 2,343,975 2,388,255 2,432,579 2,476,948 Operating Expenses Personal Services 5.00%312,737 371,797 390,387 495,206 519,966 594,837 624,579 655,808 688,598 723,028 759,180 Materials and Supplies 5.00%240,000 252,000 264,600 277,830 291,722 306,308 321,623 337,704 354,589 372,319 390,935 Contractual Services 5.00%172,347 180,964 190,013 209,513 219,989 230,988 242,538 254,665 267,398 280,768 294,806 Utilities 1.50%110,000 111,650 113,325 162,725 165,165 167,643 170,158 172,710 175,301 177,930 180,599 Other 6.00%28,834 30,564 32,398 94,078 99,722 105,706 112,048 118,771 125,897 133,451 141,458 Existing Depreciation 704,888 765,965 778,965 778,965 778,965 778,965 778,965 778,965 778,965 775,801 772,066 New Depreciation - 17,640 100,409 536,209 582,627 593,727 625,161 639,761 654,249 665,516 720,265 Total Operating Expenses 1,568,806 1,730,580 1,870,097 2,554,526 2,658,157 2,778,174 2,875,071 2,958,383 3,044,998 3,128,813 3,259,309 Operating Income (Loss)(96,726) (82,939) (41,178) (537,692) (446,768) (522,631) (575,333) (614,408) (656,743) (696,234) (782,361) Non Operating Revenues (Expenses) Investment Earnings 1.00%50,000 55,778 41,176 43,855 39,241 38,980 34,873 30,193 27,236 24,796 18,033 Other - Total Non Operating Revenues (Expenses)50,000 55,778 41,176 43,855 39,241 38,980 34,873 30,193 27,236 24,796 18,033 Net Income (Loss) Before Transfers (46,726) (27,161) (2) (493,837) (407,527) (483,652) (540,460) (584,216) (629,508) (671,438) (764,329) Operating Transfers Transfers In - Transfers (Out)(281,080) (287,680) (441,420) (601,760) (768,700) (785,200) (801,700) (818,200) (834,700) (851,200) (867,700) Total Operating Transfers (281,080) (287,680) (441,420) (601,760) (768,700) (785,200) (801,700) (818,200) (834,700) (851,200) (867,700) Net Income (Loss)(327,806) (314,841) (441,422) (1,095,597) (1,176,227) (1,268,852) (1,342,160) (1,402,416) (1,464,208) (1,522,638) (1,632,029) Beginning Cash & Investments 5,882,719 5,577,801 4,117,565 4,385,518 3,924,096 3,897,961 3,487,302 3,019,268 2,723,578 2,479,585 1,803,263 Net Income (327,806) (314,841) (441,422) (1,095,597) (1,176,227) (1,268,852) (1,342,160) (1,402,416) (1,464,208) (1,522,638) (1,632,029) Depreciation 704,888 783,605 879,375 1,315,175 1,361,592 1,372,692 1,404,126 1,418,726 1,433,215 1,441,317 1,492,331 Acquisition and Construction of Assets (682,000) (1,929,000) (170,000) (681,000) (211,500) (514,500) (530,000) (312,000) (213,000) (595,000) (212,500) Ending Cash Balance 5,577,801 4,117,565 4,385,518 3,924,096 3,897,961 3,487,302 3,019,268 2,723,578 2,479,585 1,803,263 1,451,066 Minimum Cash Balance For ongoing operations 392,201 432,645 467,524 638,632 664,539 694,544 718,768 739,596 761,250 782,203 814,827 For renewal and replacement 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 Minimum Cash Balance Required 1,392,201 1,432,645 1,467,524 1,638,632 1,664,539 1,694,544 1,718,768 1,739,596 1,761,250 1,782,203 1,814,827 Amount Over (Under) Minimum 4,185,600 2,684,920 2,917,993 2,285,464 2,233,422 1,792,758 1,300,500 983,982 718,335 21,060 (363,761)