HomeMy WebLinkAbout#28 CC 9 15 15 Water and Sewer Projected Fund Balances discussion (2)
MAYOR & COUNCIL COMMUNICATION
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DATE: 9/15/15
REGULAR
ITEM # 28
AGENDA ITEM: Water and Sewer Projected Fund Balances Discussion
SUBMITTED BY: Clark Schroeder Interim City Administrator
THROUGH: Cathy Bendel
REVIEWED BY: Cathy Bendel
SUGGESTED ORDER OF BUSINESS:
- Introduction of Item .............................................................. City Administrator
- Report/Presentation…………………………………………City Administrator
- Questions from Council to Staff ............................................. Mayor Facilitates
- Call for Motion ............................................................... Mayor & City Council
- Discussion ....................................................................... Mayor & City Council
- Action on Motion .................................................................... Mayor Facilitates
POLICY RECOMMENDER: City Council
FISCAL IMPACT: None
SUMMARY AND ACTION REQUESTED:
A request was made by Mayor Pearson to have an updated “pro-forma” model run to be able to
review the City Water and Sewer Fund components of the model (the model also generates
projections for the General and Storm Water Funds). The model contains a number of key
drivers including the development build out and timing, building type (Commercial or Residential), 5 year CIP items and related bonding and special assessments and timing, timing of
repayments to developers for pipe over sizing, the specific operational assumptions etc.
The current balance of these funds is healthy due to prepayments of availability fees by the land
owners on the Lake Elmo Avenue water line. However, the concern is whether the City will have any long term cash flow issues over the life of the debt repayment stream.
The water and sewer segments of the model are attached. The build outs included in the model
are those contractually committed to by the City. Please note that the results are changing daily
as new homes are built and phases of developments are released.
City Council Meeting [Regular Agenda Item 28]
September 15, 2015
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RECOMMENDATION:
It is the recommendation of Staff that the summary reports generated by the pro-forma model be part of the monthly financial reporting packet presented to the City Council each month.
ATTACHMENTS:
• Most recent summary sheet from the Water Fund pro-forma model run 9/4/15
• Most recent summary sheet form the Sewer Fund pro-forma model run 9/4/15