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Home My WebLink About#02 - Utility Financial Management Plan Updates STAFF REPORT DATE: March 11, 2025 Workshop Discussion TO: Mayor and Council FROM: Clarissa Hadler, Finance Director Nina Kraemer, Finance Coordinator AGENDA ITEM: Utility Financial Management Plan Updates CORE STRATEGIES: ☐ Vibrant, inclusive, connected community ☐ Efficient, reliable, innovative services ☐ Responsive, transparent, adaptive governance ☒ Balanced Finances now and future ☐ Managed Growth ☒ Resilient Infrastructure BACKGROUND: First in 2016, again in 2020, and most recently in 2023 the city contracted with Northland Securities, Inc to complete a long-range financial management plan for the water, sewer and storm water funds. This past year, with the addition of a Finance Coordinator, we were able to bring that analysis in-house, with the assistance of the Northland model. ISSUE BEFORE THE CITY COUNCIL: 1) What should the utility rate increase be for 2025? DISCUSSION: The financial management plan is an important tool used to set rates and plan for future operations and investments in the utility funds. The plan incorporates the capital improvement projects from the 10-year CIP, an assumption on growth in customers and operations, financing strategies, and fund balance policy to arrive at the rates needed to support each utility fund. The assumptions utilized to draft this plan changed in a few ways since last year. We had to rework our development prediction model as the prior City Administrator had been the one to draft that in the past. Community Development Director Stopa and City Planner Jensen aided in the development of the current model, which is significantly more detailed than in years past. We believe our predictions in near-most- years are fairly accurate, as these are easier to gauge. Far-years are more difficult, and we’ve taken a more conservative approach in estimating those. Another assumption that needed to change was the number of new MPCA-funded connections. The MPCA has halted funding on water extensions paid via the 3M settlement funds, in favor of funding more treatment plants. This change significantly decreased revenues including connection fees and ongoing service charges, in both the water and sewer fund. The results of these changing assumptions are indicative of how highly subsidized our utility operations are by development. Projected revenues in all funds dropped significantly from the prior model when we remove the new connections from the MPCA-funded projects. The final assumption that has an immense impact on the water fund will be the operations and maintenance expenses of the planned treatment plants. The operations of these facilities are expected to almost double the operations expenses of the water fund within three years. There is the possibility that those expenses will be covered by the MPCA via the 3M Settlement Funds or the 3M Consent Decree for a number of years, but that information will not be available for some time. For now, the utility model reflects a lack of that funding, as it is difficult even to determine the likelihood that it will occur. As we looked at these models, we contemplated what our goals were for the utility funds. Revenue sufficiency overall is the main goal of any long-term study, and we look at cash balances, debt load, and operating expense recovery to determine whether the rates we are looking at are sufficient for long-term sustainability of the funds. • Revenue Sufficiency – making sure we have revenue sufficient to fund operations, debt, and long-term capital needs. • Cash Balances – ensuring we have cash on hand for current operations and debt, as well as future capital needs. • Debt Load – minimize new debt and decrease debt load over time. • Expense Recovery – ensure all expenses, including depreciation, are covered by revenues. Rate Comparisons / Overall Cash Impact Below are some comparison charts showing what happens to cash and revenues/expenses with some example rate increases. While it is easiest to discuss these increases in terms of percentages across-the- board, staff encourages Council to also keep in mind the dollar value of these increases. 3% on a low- volume residential bill is about $3.50 per quarter. 20% on the same bill is $18 per quarter or $6 per month. 3% for 10 years It is apparent with the addition of the water treatment plants that an inflationary 3% increase is not an option due to the increase in operations expenses alone. Cash decreases drastically over the next 10 years. 10% for 10 years An option of 10% over 10 years was reviewed by staff. However, while this model does well in short- term revenue sufficiency and cash balances and may be the most acceptable from a political perspective, it does not allow us to meet the expense recovery goal until 2033. (Note: 2025-2026 revenues are from the Water Treatment Plant MPCA grants.) One should note that if we have not achieved that expense recovery in the past, we are many years and millions of dollars behind in funding those future capital improvements. For instance, in the Water Fund we have approximately $15 million in accumulated depreciation and $5 million in cash, resulting in a $10 million insufficiency. In the 10% model, with the addition of the water treatment plants and new development, by 2034, we would have approximately $53M in accumulated depreciation and $12M in cash, a $41M gap (see red bar in chart below). That gap would continue increasing in future years. Proposed Increase The third option shown is a 20% increase over 5 years for water, followed by inflationary increases of 3% thereafter The Sanitary Sewer Fund follows a similar model with a 20% increase then a 10% increase in year 5 and 3% increases thereafter. This allows us to reach the goal of 100% expense recovery in five years. Again, expense recovery means that we are charging enough to cover operations and depreciation, thereby setting aside money for future capital improvements. (Note: 2025-2026 revenues are from the Water Treatment Plant MPCA grants.) In this model, by 2034 we would have the same $53M in accumulated depreciation and $22M in cash, a $31M deficiency. That gap is either holding steady or increasing at a much slower pace than the 10% model. Debt Per on-going conversations regarding the city’s current overall debt load, we also wanted to avoid issuing new debt unless necessary or beneficial. In the current model, we’ve planned for debt for capital projects in the Water Fund through 2031, though there would likely be opportunity to pay more with cash. Starting in 2031, we expect to be able to pay cash for most capital projects, and as such, the Water Fund could be debt free after 2045. For the Sewer Fund, our current model does not include any new debt issued (except one tentative project in 2034). There would be an opportunity to issue up to $3 million in debt for projects to manage cash flow or take advantage of low interest rates. Stormwater Fund With few capital projects on the horizon and relatively low operating expenses, we modeled for stormwater fees to remain generally the same for the foreseeable future. This would help lower the overall percentage increase to a quarterly utility bill. This scenario does not allow the Stormwater Fund to achieve expense recovery, and this issue should be revisited in future models and CIP updates. See Appendix F for Stormwater Fund reports and charts. Proposed Fees and Quarterly Bills Appendix A shows the Proposed Rates for 2025 under this model. Tables in the attachments show an illustration of a low, middle, and high quarterly bill in both Residential and Commercial. A low-volume user will see a change in their quarterly bill of around $18, or a little over $6 per month. Comparisons to Other Cities Appendix B shows the comparisons of fees to other cities. These were the same cities selected in the Northland comparison last year. All but three of those comparable cities have or are planning water treatment plant(s). The charts show 2024 fees, with Lake Elmo 2025 (with 20% increase) ranking is 6th highest in the group, up from Lake Elmo 2024 ranking of 10th. Hastings is currently planning for a water treatment plant, as well, and their fee ranking is expected to increase by at least 3 spots, as well. We do not have 2025 fee data for the remainder of the cities as of the writing of this report. Development / Connection Charges The Water and Sewer Availability and Connection Charges (WAC, WCC, SAC, SCC) have not been changed since 2013; staying at $3000 for availability and $1000 for connection charges for each fund. Staff did not increase those charges for this model, but if there is interest from Council, we can incorporate rate increases to those fees, which could add millions in revenue in the coming years. This seems appropriate given increasing construction costs in years past. These connection fees vary widely from city-to-city, in both rate and application and it would take a significant amount of staff time to provide a thorough analysis of these. With direction from Council, staff would plan to work this analysis into the next update of this study. Multi-Family Rates To date, a separate Multi-Family rate has not been adopted in any of the funds. This leads to some unclear processes about how to apply those rates, and/or applying a rate that doesn’t align with the property or usage. As such, we are proposing Multi-Family Rates as shown in the attached fee table. Water – A per unit base rate is proposed, which aligns with many other cities’ practices, and acknowledges the large draw of these facilities on the water system. However, a single tier usage rate is recommended in conjunction with that, which acknowledges that the higher-gallon usage on those meters is due to the multiple units and is generally basic residential utilization like cooking, bathing, and laundry. Sewer – Again a per unit base fee and a single tier usage fee that align with regular residential and commercial rates. Stormwater – It is recommended that Multi-Family Stormwater fees be treated like Commercial, as the stormwater run-off will be similar to commercial with a lower number of permeable surfaces on each property. Future Model Improvements / Challenges • Improved Depreciation Modeling – current model is a flat 40-year depreciation, and a more accurate depiction would take into account individual assets. • Break Capital and Operations into separate funds and reports to better visualize the impacts of these revenue and expense types. Summary The above graphs show simple cash balances and revenues vs. expenses. The attached tables and charts in Appendices C through F show the more detailed financial projections for each of the funds. To reiterate an earlier point, these models are based on assumptions. The assumptions, as well as what occurs, can shift results significantly year-to-year, including development, water usage, interest rates, construction costs, and so on. Again, this model assumes no outside funding of O&M on the new treatment plants, so if that funding comes through, this model will need to be updated. We use our best guess to estimate how these funds will perform and what adjustments are needed to project long-term financial sustainability. Further, the rate decisions are set annually, so while we are modeling 20% over 5 years, the actual rate for anything beyond 2025 will generally be set in future years, unless Council determines it is in the best interest of the City to set them ahead of time. Based on the above, our recommended utility fund fee schedule for 2025 is shown in Appendix A. We are happy to discuss alternatives to these recommendations with Council during the workshop, as well as provide alternative scenarios if requested ahead of time. RECOMMENDATION: Discuss rate study results and provide direction for implementation of rate changes for 2025. (Staff will bring changes to the March 18th meeting for formal adoption and they would take effect for Q1 billing in the beginning of April.) ATTACHMENTS: • Appendix A – Rates & Bills • Appendix B – Comp Cities • Appendix C – All Funds Charts • Appendix D – Water Reports & Charts • Appendix E – Sewer Reports & Charts • Appendix F – Stormwater Reports & Charts Appendix A • 2025 Proposed Rate Table • Example Quarterly Utility Bill Change – 2024 to 2025 • Example Quarterly Utility Feels Payable by Property Types – Dollar Change • Example Quarterly Utility Feels Payable by Property Types – Percent Change 2025 Proposed Rate Table 2024 Adopted 2025 $ Change % Change WATER RATES Residential quarterly base fee 22.52 27.02 4.50 20% Residential Tier 1: 0-15,000 gal 2.25 2.70 0.45 20% Residential Tier 2: 15,001-30,000 gal 2.71 3.25 0.54 20% Residential Tier 3: 30,001-50,000 gal 3.24 3.89 0.65 20% Residential Tier 4: 50,001-80,000 gal 3.90 4.68 0.78 20% Residential Tier 5: >80,001 gal 4.66 5.59 0.93 20% Multi-Family Residential quarterly base fee (per unit) 27.02 new Multi-Family Residential water usage 2.70 new Commercial quarterly base fee 28.15 33.78 5.63 20% Commercial Tier 1: 0-15,000 gallons 3.49 4.19 0.70 20% Commercial Tier 2: 15,001-30,000 gal 3.67 4.40 0.73 20% Commercial Tier 3: 30,001-50,000 gal 4.24 5.09 0.85 20% Commercial Tier 4: 50,001-80,000 gal 5.62 6.74 1.12 20% Commercial Tier 5: >80,001 gal 7.47 8.96 1.49 20% Irrigation quarterly base fee 28.15 33.78 5.63 20% Irrigation Tier 1: 0-30,000 gallons 2.71 3.25 0.54 20% Irrigation Tier 2: 30,001-50,000 gal 3.24 3.89 0.65 20% Irrigation Tier 3: 50,001-80,000 gal 3.90 4.68 0.78 20% Irrigation Tier 4: >80,001 gal 4.66 5.59 0.93 20% Hotel/Motel quarterly base fee 28.15 33.78 5.63 20% Hotel/Motel Tier 1: 0-30,000 gal 3.49 4.19 0.70 20% Hotel/Motel Tier 2: 30,001-50,000 gal 3.67 4.40 0.73 20% Hotel/Motel Tier 3: >50,001 gal 4.49 5.39 0.90 20% Connection charge Per REC Unit 1,000 1,000 - 0% Availability charge Per REC Unit 3,000 3,000 - 0% SEWER RATES Residential quarterly base fee 55.74 66.89 11.15 20% Residential Sanitary Sewer Tier 1 (first 10,000 gallons included in base fee) - - 0% Residential Sanitary Sewer Tier 2 usage per 1,000 gallons (after first 10,000 gal) 4.99 5.99 1.00 20% Multi-Family quarterly base fee (per unit) 6.13 new Multi-Family Sanitary Sewer Usage 5.99 new Commercial Sanitary Sewer - - 0% Commercial Sanitary Sewer - per 1,000 gallons 4.99 5.99 1.00 20% Commercial off-site customer (per quarter) 82.01 98.41 16.40 20% Connection charge Per REC Unit 1,000 1,000 - 0% Availability charge Per REC Unit 3,000 3,000 - 0% Availability charge Per REC Unit - Early Incentive Prg (50% of rate) 1,500 1,500 - 0% STORMWATER RATES Storm Sewer Annual Basic Charge - Residential 95.00 95.00 - 0% Storm Sewer Annual Basic Charge - Multi-Family - Billed at 3.08X Residential 95.00 new Storm Sewer Annual Equivalent Basic Charge Commercial Billed at 3.08 95.00 95.00 - 0% Storm Sewer Annual Charge - Vacant Land - Per Acre Charge 14.25 14.25 - 0% APPENDIX A Example Quarterly Utility Bill Change - 2024 to 2025 Low Volume Example, 6,000 gallons billed 2024 2025 Quarterly $ Change Monthly $ Change Residential Customer Water Bill 36.02 43.22 7.20 2.40 Sanitary Sewer Bill 55.74 66.89 11.15 3.72 Storm Sewer Bill 23.75 23.75 - - Total 115.51 133.86 18.35 6.12 % Change 15.9% Commercial Customer Water Bill 49.09 58.91 9.82 3.27 Sanitary Sewer Bill 99.80 119.76 19.96 6.65 Storm Sewer Bill 73.15 73.15 - - Total 222.04 251.82 29.78 9.93 % Change 13.4% Medium Volume Example, 20,000 gallons billed 2024 2025 Quarterly $ Change Monthly $ Change Residential Customer Water Bill 69.82 83.78 13.96 4.65 Sanitary Sewer Bill 105.64 126.77 21.13 7.04 Storm Sewer Bill 23.75 23.75 - - Total 199.21 234.30 35.09 11.70 % Change 17.6% Commercial Customer Water Bill 98.85 118.62 19.77 6.59 Sanitary Sewer Bill 99.80 119.76 19.96 6.65 Storm Sewer Bill 73.15 73.15 - - Total 271.80 311.53 39.73 13.24 % Change 14.6% High Volume Example, 107,000 gallons billed 2024 2025 Quarterly $ Change Monthly $ Change Residential Customer Water Bill 384.02 460.82 76.80 25.60 Sanitary Sewer Bill 539.77 647.72 107.95 35.98 Storm Sewer Bill 23.75 23.75 - - Total 947.54 1,132.30 184.76 61.59 % Change 19.5% Commercial Customer Water Bill 540.69 648.83 108.14 36.05 Sanitary Sewer Bill 533.93 640.72 106.79 35.60 Storm Sewer Bill 73.15 73.15 - - Total 1,147.77 1,362.69 214.92 71.64 % Change 18.7% Note: 1. City bills the storm water charge on an annual basis. For the purpose of this report it is shown on a quarterly basis. 2. Commercial property, for storm water services, is billed at the equivalent of 3.08X of one residential equivalent unit (REU). APPENDIX A Example Quarterly Utility Fees Payable by Property Types TOTAL DOLLAR AMOUNT 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Low Volume Example, 6,000 gallons billed Residential Customer Water Bill 34.94 36.02 43.22 51.87 62.24 74.69 89.63 92.32 95.09 97.94 100.88 103.90 Sanitary Sewer Bill 55.74 55.74 66.89 80.27 96.32 115.58 127.14 130.95 134.88 138.93 143.10 147.39 Storm Sewer Bill 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 Total 114.43 115.51 133.86 155.88 182.31 214.02 240.52 247.02 253.72 260.62 267.73 275.05 % Change 3.1% 0.9% 15.9% 16.5% 17.0% 17.4% 12.4% 2.7% 2.7% 2.7% 2.7% 2.7% Commercial Customer Water Bill 47.67 49.09 58.91 70.69 84.83 101.79 122.15 125.82 129.59 133.48 137.48 141.61 Sanitary Sewer Bill 96.00 99.80 119.76 143.71 172.45 206.95 248.33 298.00 357.60 429.12 514.95 617.94 Storm Sewer Bill 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 Total 216.82 222.04 251.82 287.55 330.43 381.89 443.64 496.97 560.34 635.75 725.58 832.69 % Change 4.4% 2.4% 13.4% 14.2% 14.9% 15.6% 16.2% 12.0% 12.8% 13.5% 14.1% 14.8% Medium Volume Example, 20,000 gallons billed Residential Customer Water Bill 67.71 69.82 83.78 100.54 120.65 144.78 173.73 178.95 184.31 189.84 195.54 201.41 Sanitary Sewer Bill 103.74 105.64 126.77 152.12 182.55 219.06 240.96 248.19 255.64 263.30 271.20 279.34 Storm Sewer Bill 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 Total 195.20 199.21 234.30 276.41 326.94 387.58 438.45 450.89 463.70 476.90 490.49 504.50 % Change 2.2% 2.1% 17.6% 18.0% 18.3% 18.5% 13.1% 2.8% 2.8% 2.8% 2.9% 2.9% Commercial Customer Water Bill 95.98 98.85 118.62 142.34 170.81 204.98 245.97 253.35 260.95 268.78 276.84 285.15 Sanitary Sewer Bill 96.00 99.80 119.76 143.71 172.45 206.95 248.33 298.00 357.60 429.12 514.95 617.94 Storm Sewer Bill 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 Total 265.13 271.80 311.53 359.21 416.42 485.07 567.45 624.50 691.70 771.05 864.94 976.23 % Change 3.8% 2.5% 14.6% 15.3% 15.9% 16.5% 17.0% 10.1% 10.8% 11.5% 12.2% 12.9% High Volume Example, 107,000 gallons billed Residential Customer Water Bill 373.04 384.02 460.82 552.99 663.59 796.30 955.56 984.23 1,013.76 1,044.17 1,075.50 1,107.76 Sanitary Sewer Bill 521.34 539.77 647.72 777.27 932.72 1,119.27 1,231.19 1,268.13 1,306.17 1,345.36 1,385.72 1,427.29 Storm Sewer Bill 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 Total 918.13 947.54 1,132.30 1,354.01 1,620.06 1,939.32 2,210.51 2,276.11 2,343.68 2,413.28 2,484.97 2,558.80 % Change 1.3% 3.2% 19.5% 19.6% 19.6% 19.7% 14.0% 3.0% 3.0% 3.0% 3.0% 3.0% Commercial Customer Water Bill 525.20 540.69 648.83 778.59 934.31 1,121.17 1,345.41 1,385.77 1,427.35 1,470.17 1,514.27 1,559.70 Sanitary Sewer Bill 513.60 533.93 640.72 768.86 922.63 1,107.16 1,328.59 1,594.31 1,913.17 2,295.80 2,754.96 3,305.95 Storm Sewer Bill 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 Total 1,111.95 1,147.77 1,362.69 1,620.60 1,930.09 2,301.48 2,747.15 3,053.23 3,413.66 3,839.12 4,342.38 4,938.80 % Change 1.6% 3.2% 18.7% 18.9% 19.1% 19.2% 19.4% 11.1% 11.8% 12.5% 13.1% 13.7% Note: 1. City bills the storm water charge on an annual basis. For the purpose of this report it is shown on a quarterly basis. 2. Commercial property, for storm water services, is billed at the equivalent of 3.08X of one residential equivalent unit (REU). APPENDIX A Example Quarterly Utility Fees Payable by Property Types TOTAL DOLLAR AMOUNT 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Low Volume Example, 6,000 gallons billed Residential Customer Water Bill 34.94 36.02 43.22 51.87 62.24 74.69 89.63 92.32 95.09 97.94 100.88 103.90 Sanitary Sewer Bill 55.74 55.74 66.89 80.27 96.32 115.58 127.14 130.95 134.88 138.93 143.10 147.39 Storm Sewer Bill 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 Total 114.43 115.51 133.86 155.88 182.31 214.02 240.52 247.02 253.72 260.62 267.73 275.05 % Change 3.1% 0.9% 15.9% 16.5% 17.0% 17.4% 12.4% 2.7% 2.7% 2.7% 2.7% 2.7% Commercial Customer Water Bill 47.67 49.09 58.91 70.69 84.83 101.79 122.15 125.82 129.59 133.48 137.48 141.61 Sanitary Sewer Bill 96.00 99.80 119.76 143.71 172.45 206.95 248.33 298.00 357.60 429.12 514.95 617.94 Storm Sewer Bill 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 Total 216.82 222.04 251.82 287.55 330.43 381.89 443.64 496.97 560.34 635.75 725.58 832.69 % Change 4.4% 2.4% 13.4% 14.2% 14.9% 15.6% 16.2% 12.0% 12.8% 13.5% 14.1% 14.8% Medium Volume Example, 20,000 gallons billed Residential Customer Water Bill 67.71 69.82 83.78 100.54 120.65 144.78 173.73 178.95 184.31 189.84 195.54 201.41 Sanitary Sewer Bill 103.74 105.64 126.77 152.12 182.55 219.06 240.96 248.19 255.64 263.30 271.20 279.34 Storm Sewer Bill 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 Total 195.20 199.21 234.30 276.41 326.94 387.58 438.45 450.89 463.70 476.90 490.49 504.50 % Change 2.2% 2.1% 17.6% 18.0% 18.3% 18.5% 13.1% 2.8% 2.8% 2.8% 2.9% 2.9% Commercial Customer Water Bill 95.98 98.85 118.62 142.34 170.81 204.98 245.97 253.35 260.95 268.78 276.84 285.15 Sanitary Sewer Bill 96.00 99.80 119.76 143.71 172.45 206.95 248.33 298.00 357.60 429.12 514.95 617.94 Storm Sewer Bill 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 Total 265.13 271.80 311.53 359.21 416.42 485.07 567.45 624.50 691.70 771.05 864.94 976.23 % Change 3.8% 2.5% 14.6% 15.3% 15.9% 16.5% 17.0% 10.1% 10.8% 11.5% 12.2% 12.9% High Volume Example, 107,000 gallons billed Residential Customer Water Bill 373.04 384.02 460.82 552.99 663.59 796.30 955.56 984.23 1,013.76 1,044.17 1,075.50 1,107.76 Sanitary Sewer Bill 521.34 539.77 647.72 777.27 932.72 1,119.27 1,231.19 1,268.13 1,306.17 1,345.36 1,385.72 1,427.29 Storm Sewer Bill 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 23.75 Total 918.13 947.54 1,132.30 1,354.01 1,620.06 1,939.32 2,210.51 2,276.11 2,343.68 2,413.28 2,484.97 2,558.80 % Change 1.3% 3.2% 19.5% 19.6% 19.6% 19.7% 14.0% 3.0% 3.0% 3.0% 3.0% 3.0% Commercial Customer Water Bill 525.20 540.69 648.83 778.59 934.31 1,121.17 1,345.41 1,385.77 1,427.35 1,470.17 1,514.27 1,559.70 Sanitary Sewer Bill 513.60 533.93 640.72 768.86 922.63 1,107.16 1,328.59 1,594.31 1,913.17 2,295.80 2,754.96 3,305.95 Storm Sewer Bill 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 73.15 Total 1,111.95 1,147.77 1,362.69 1,620.60 1,930.09 2,301.48 2,747.15 3,053.23 3,413.66 3,839.12 4,342.38 4,938.80 % Change 1.6% 3.2% 18.7% 18.9% 19.1% 19.2% 19.4% 11.1% 11.8% 12.5% 13.1% 13.7% Note: 1. City bills the storm water charge on an annual basis. For the purpose of this report it is shown on a quarterly basis. 2. Commercial property, for storm water services, is billed at the equivalent of 3.08X of one residential equivalent unit (REU). Appendix B • Comparison of Fees to Other Cities o 6,000 Gallons Quarterly Volume - Residential o 20,000 Gallons Quarterly Volume - Residential o 107,000 Gallons Quarterly Volume - Residential $0 $5 0 $1 0 0 $1 5 0 $2 0 0 $2 5 0 Rosemount Hastings Farmington Stillwater Hastings 2025 Woodbury Victoria Lake Elmo Hugo Oakdale Prior Lake Lake Elmo 2025 Chaska Minnetonka Ramsey Carver Corcoran Comparison of Fees to Other Cities 6,000 Gallons Quarterly Volume -Residential Estimated Based on Published Fees and Rates and Interpretation of Schedules for Year 2024. Cities have different billing cycles. For comparison billing is shown as quarterly. Sewer Water Stormwater Disclaimer: Bill amounts are calculated based on published fee schedules. While the information presented in this chart is believed to be accurate, the interpretation of a city fee schedule may have not been correct and therefore the information presented for a city may not be correct. $0 $5 0 $1 0 0 $1 5 0 $2 0 0 $2 5 0 $3 0 0 $3 5 0 $4 0 0 Stillwater Ramsey Hugo Hastings Woodbury Rosemount Oakdale Hastings 2025 Farmington Lake Elmo Victoria Prior Lake Lake Elmo 2025 Minnetonka Corcoran Chaska Carver Comparison of Fees to Other Cities 20,000 Gallons Quarterly Volume -Residential Estimated Based on Published Fees and Rates and Interpretation of Schedules for Year 2024. Cities have different billing cycles. For comparison billing is shown as quarterly. Sewer Water Stormwater Disclaimer: Bill amounts are calculated based on published fee schedules. While the information presented in this chart is believed to be accurate, the interpretation of a city fee schedule may have not been correct and therefore the information presented for a city may not be correct. $0 $2 0 0 $4 0 0 $6 0 0 $8 0 0 $1 , 0 0 0 $1 , 2 0 0 $1 , 4 0 0 $1 , 6 0 0 $1 , 8 0 0 $2 , 0 0 0 Stillwater Hugo Ramsey Oakdale Woodbury Hastings Corcoran Hastings 2025 Lake Elmo Rosemount Farmington Minnetonka Victoria Lake Elmo 2025 Chaska Prior Lake Carver Comparison of Fees to Other Cities 107,000 Gallons Quarterly Volume -Residential Estimated Based on Published Fees and Rates and Interpretation of Schedules for Year 2024. Cities have different billing cycles. For comparison billing is shown as quarterly. Sewer Water Stormwater Disclaimer: Bill amounts are calculated based on published fee schedules. While the information presented in this chart is believed to be accurate, the interpretation of a city fee schedule may have not been correct and therefore the information presented for a city may not be correct. Appendix C All Funds • Chart 1 – Year Ending Cash – All Funds • Chart 2 – Estimated Debt Outstanding – Existing vs New • Chart 3 – Estimated Debt Outstanding by Fund • Chart 4 – Estimated Annual Debt Service by Fund • Chart 5 – Estimated Annual Debt Service Interest & Principal • Chart 8 – Projected Volume Billed – Water & Sewer $0 $5 $10 $15 $20 $25 $30 $35 $40 $45 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 20 3 4 Mi l l i o n s Chart 1 Year Ending Cash is projected to be sufficient to meet cash objectives, including cash available for debt service payments, pay-go capital, and reserves Storm Sewer Fund Sanitary Sewer Fund Water Fund $0 $5 $10 $15 $20 $25 $30 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 20 3 4 Mi l l i o n s Chart 2 Estimated Debt Outstanding for Existing and Planned New Debt Supported by Utility Revenues Existing Debt New Debt $0 $5 $10 $15 $20 $25 $30 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 20 3 4 Mi l l i o n s Chart 3 Estimated Debt Outstanding by Fund Including Existing and Planned New Debt Supported by Utility Revenues Water Fund Sanitary Sewer Fund Storm Sewer Fund $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5 $4.0 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 20 3 4 Mi l l i o n s Chart 4 Estimated Annual Debt Service by Fund Includes Existing and Planned New Debt Storm Sewer Fund Sanitary Sewer Fund Water Fund $0.0 $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5 $4.0 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 20 3 4 Mi l l i o n s Chart 5 Estimated Annual Debt Service for Utility Funds Includes Existing and Planned New Debt Interest Principal 0 100 200 300 400 500 600 700 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 20 3 4 Th o u s a n d s o f G a l l o n s Chart 8 Projected Volume of Water and Sanitary Sewer Subject to Billing Volume billed is projected to increase with addition of new customers Water Volume Sewer Volume Appendix D Water Charts & Reports • Charts o Ending Cash by Year o Revenues & Expenses o Customers & Annual Water Volume Billed • Reports o Summary of Key Financial Information o Pro Forma o Projected Year End Cash Balance o Capital Improvement Plan o Customers / Usage & Rates o Change in Net Capital Assets $0 $5 $10 $15 $20 $25 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Mi l l i o n s Water Fund Ending Cash by Year $0 $5 $10 $15 $20 $25 $30 $35 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 Mi l l i o n s Chart 11 Water Fund Revenues and Expenses Revenues fluctuate with timing of private development and collection of development related revenues including connection and availability charges and special assessments Revenues Expenses 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 - 100,000 200,000 300,000 400,000 500,000 600,000 700,000 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 To t a l C u s t o m e r U n i t s ( E R U ) Vo l u m e B i l l e d ( 1 , 0 0 0 G a l ) Chart 12 Water Fund Customers and Annual Water Volume Billed is projected to continue to increase Water Volume Billed Total Customer Units Table 1 Water Fund Summary of Key Financial Information Amounts are Estimated 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Revenues 6,477,438 32,492,715 27,709,564 4,989,538 4,565,564 6,033,578 6,895,714 6,551,314 7,205,819 7,658,355 Expenses 3,606,749 4,505,976 5,583,557 6,104,267 6,277,265 6,393,511 6,529,644 6,675,976 6,739,323 6,808,181 Ending Cash by Purpose Cash for next year planned capital 28,363,275 25,207,610 307,661 - - 57,964 423,336 258,274 1,013,416 500,000 Cash for next year debt service 1,573,630 1,587,973 1,663,521 1,929,971 2,066,307 2,192,398 1,850,954 1,937,960 1,684,919 1,624,483 Restricted availability charges - - 3,106,465 4,075,304 4,421,784 5,987,915 8,329,399 10,339,821 10,215,081 9,735,517 Unrestricted cash (24,458,353) (19,966,542) 1,018,878 1,049,444 1,080,928 1,113,356 1,146,756 1,181,159 3,440,885 7,014,365 Ending Cash 5,478,552 6,829,041 6,096,525 7,054,720 7,569,019 9,351,632 11,750,445 13,717,214 16,354,301 18,874,365 Net Position Ending Unrestricted Net Position 5,024,744 6,393,385 5,678,962 6,659,562 7,196,266 9,001,681 11,420,323 13,403,835 16,051,102 18,577,934 Ending Unrestricted Net Position as % of Expenses 112% 115% 93% 106% 113% 138% 171% 199% 236% 261% Total Customer Units 3,824 4,134 4,337 4,562 4,824 5,194 5,530 5,818 6,063 6,283 Annual Increase in Customer Units 285 310 203 224 262 371 335 289 245 220 Water Volume Billed 353,114 387,712 413,791 442,558 477,129 515,956 551,946 584,203 612,940 639,676 Average Annual Change in Residential Rates (Average Volume 20,000 gallons per quarter) 3.1% 20.0% 20.0% 20.0% 20.0% 20.0% 3.0% 3.0% 3.0% 3.0% Table J Water Fund Pro Forma Prior Year Actual Prior Year Actual 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Revenues Charges for services 1,647,656 1,809,432 1,463,181 1,893,585 2,407,434 3,068,408 3,932,434 5,067,448 5,553,584 6,042,184 6,521,689 7,008,225 Investment income (66,764) 172,199 74,100 32,000 32,000 32,000 32,000 32,000 32,000 32,000 32,000 32,000 Other operating revenue 400,075 5,671 4,991 33,455 33,455 33,455 33,455 33,455 33,455 33,455 33,455 33,455 Water meter sales 113,708 123,176 51,530 155,675 155,675 155,675 155,675 155,675 155,675 155,675 155,675 155,675 Other revenues - - 3,257,636 27,000,000 24,500,000 - - - - - - - Availability charges 685,000 550,000 1,293,000 2,577,000 378,000 1,476,000 150,000 375,000 786,000 - 219,000 210,000 Capital assets contributions non-cash 1,503,597 2,164,179 - - - - - - - - - - Intergovernmental revenue 8,164,179 2,666,737 - - - - - - - - - - Special assessments 73,461 18,013 - 320,000 - - - - - - - - Lateral Benefit Fee 12,400 17,200 7,000 - - - - - - - - - Connection charges 383,000 299,000 326,000 481,000 203,000 224,000 262,000 370,000 335,000 288,000 244,000 219,000 Total Revenues 12,916,312 7,825,607 6,477,438 32,492,715 27,709,564 4,989,538 4,565,564 6,033,578 6,895,714 6,551,314 7,205,819 7,658,355 Expenses Personal services 453,262 521,477 425,254 469,367 533,448 600,951 618,980 637,549 656,675 676,376 696,667 717,567 Materials and supplies 204,340 368,133 193,168 121,600 179,368 236,249 243,337 250,637 258,156 265,900 273,877 282,094 Professional services 109,490 275,957 189,548 331,702 349,229 364,855 375,801 387,075 398,687 410,648 422,967 435,656 Repairs and maintenance 84,958 73,786 62,556 104,500 316,260 500,848 515,873 531,349 547,290 563,709 580,620 598,038 Utilities 176,806 178,976 122,976 160,000 250,100 334,853 344,899 355,246 365,903 376,880 388,186 399,832 Depreciation expense 1,868,224 2,148,531 2,238,095 2,955,177 3,604,680 3,681,330 3,726,405 3,768,611 3,822,228 3,877,588 3,884,045 3,926,798 Interest and fees on long-term debt 346,637 352,740 374,262 358,630 337,973 333,521 414,971 431,307 442,398 470,954 492,960 434,919 Transfer out to Capital Fund 3,261,225 - - - - - - - - - - - Intergovernmental payments - - - - - - - - - - - - Other expenses 37,158 62,638 890 - - - - - - - - - Cost of bond issuance - - - 5,000 12,500 51,660 37,000 31,737 38,307 33,922 - 13,276 Total Expenses 6,542,100 3,982,238 3,606,749 4,505,976 5,583,557 6,104,267 6,277,265 6,393,511 6,529,644 6,675,976 6,739,323 6,808,181 Change in Net Position 6,374,212 3,843,369 2,870,689 27,986,739 22,126,008 (1,114,728) (1,711,701) (359,933) 366,071 (124,662) 466,496 850,174 Ending net position 46,447,856 50,291,225 53,161,914 81,148,653 103,274,661 102,159,932 100,448,231 100,088,299 100,454,370 100,329,707 100,796,203 101,646,377 Assets Cash and investments 5,738,584 5,792,477 5,478,552 6,829,041 6,096,525 7,054,720 7,569,019 9,351,632 11,750,445 13,717,214 16,354,301 18,874,365 Cash and investments held in escrow - - - - - - - - - - - - Special assessments receivable 533,521 501,348 473,748 449,799 427,010 407,314 387,618 368,315 349,012 329,709 310,406 291,103 Other current assets / receivables 243,557 264,767 209,105 209,105 209,105 209,105 209,105 209,105 209,105 209,105 209,105 209,105 Due from other governmental units 1,429,117 157,547 - - - - - - - - - - Capital assets 65,601,629 72,596,436 76,178,995 104,862,270 130,842,380 133,908,381 135,711,381 137,399,644 139,544,301 141,758,715 142,016,989 143,727,128 Less Accumulated depreciation (11,665,199) (13,813,730) (16,051,825) (19,007,002) (22,611,681) (26,293,011) (30,019,416) (33,788,027) (37,610,255) (41,487,843) (45,371,887) (49,298,686) Deferred outflows 109,550 73,095 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 Total Assets and Deferred Outflows 61,990,759 65,571,940 66,303,576 93,358,214 114,978,338 115,301,509 113,872,707 113,555,669 114,257,609 114,541,901 113,533,914 113,818,016 Liabilities Other current liabilities / payables 835,631 1,263,329 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 Bonds payable 13,375,000 12,670,000 11,990,000 11,100,000 10,635,000 12,115,000 12,440,000 12,525,000 12,900,000 13,345,000 11,900,000 11,360,000 Unamortized bond premium 432,861 429,402 418,662 376,561 335,678 293,577 251,475 209,370 170,239 134,193 104,710 78,639 Other non-current liabilities 318,367 253,428 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 Unearned revenues 575,000 575,000 575,000 575,000 575,000 575,000 575,000 575,000 575,000 575,000 575,000 575,000 Deferred inflows 6,044 89,556 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 8,000 Total Liabilities and Deferred Inflows 15,542,903 15,280,715 13,141,662 12,209,561 11,703,678 13,141,577 13,424,475 13,467,370 13,803,239 14,212,193 12,737,710 12,171,639 Total Liabilities, Deferred Inflows, and Net Position 61,990,759 65,571,940 66,303,576 93,358,214 114,978,338 115,301,509 113,872,707 113,555,669 114,257,609 114,541,901 113,533,914 113,818,016 Projected Table K Water Fund Projected Year End Cash Balance Current Year 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Use of Cash Operations & Maintenance 994,392 1,187,169 1,628,404 2,037,756 2,098,889 2,161,856 2,226,711 2,293,513 2,362,318 2,433,188 Capital Acquisition 3,582,559 28,688,275 25,992,610 3,117,661 1,840,000 1,720,000 2,182,964 2,248,336 258,274 1,723,416 Interfund Transfers Out - - - - - - - - - - Debt Service (includes transfers for debt) 1,524,262 1,573,630 1,587,973 1,663,521 1,929,971 2,066,307 2,192,398 1,850,954 1,937,960 1,684,919 Total Use of Cash 6,101,213 31,449,074 29,208,987 6,818,938 5,868,860 5,948,163 6,602,073 6,392,803 4,558,552 5,841,522 Source of Cash Revenues 6,477,438 32,492,715 27,709,564 4,989,538 4,565,564 6,033,578 6,895,714 6,551,314 7,205,819 7,658,355 Bond Proceeds 470,000 325,000 785,000 2,810,000 1,840,000 1,720,000 2,125,000 1,825,000 - 710,000 Interfund Transfers In - - - - - - - - - - Total Source of Cash 6,947,438 32,817,715 28,494,564 7,799,538 6,405,564 7,753,578 9,020,714 8,376,314 7,205,819 8,368,355 Net Change in Other Assets and Liabilities (1,160,149) (18,152) (18,094) (22,405) (22,405) (22,802) (19,828) (16,743) (10,180) (6,768) Change in Cash Balance (313,925) 1,350,489 (732,517) 958,195 514,299 1,782,613 2,398,813 1,966,769 2,637,087 2,520,064 Beginning Cash Balance 5,792,477 5,478,552 6,829,041 6,096,525 7,054,720 7,569,019 9,351,632 11,750,445 13,717,214 16,354,301 Ending Cash 5,478,552 6,829,041 6,096,525 7,054,720 7,569,019 9,351,632 11,750,445 13,717,214 16,354,301 18,874,365 Ending Cash by Purpose Cash for next year planned capital 28,363,275 25,207,610 307,661 - - 57,964 423,336 258,274 1,013,416 500,000 Cash for next year debt service 1,573,630 1,587,973 1,663,521 1,929,971 2,066,307 2,192,398 1,850,954 1,937,960 1,684,919 1,624,483 Restricted availability charges - - 3,106,465 4,075,304 4,421,784 5,987,915 8,329,399 10,339,821 10,215,081 9,735,517 Unrestricted cash (24,458,353) (19,966,542) 1,018,878 1,049,444 1,080,928 1,113,356 1,146,756 1,181,159 3,440,885 7,014,365 Ending Cash 5,478,552 6,829,041 6,096,525 7,054,720 7,569,019 9,351,632 11,750,445 13,717,214 16,354,301 18,874,365 Net Position Ending Unrestricted Net Position 5,024,744 6,393,385 5,678,962 6,659,562 7,196,266 9,001,681 11,420,323 13,403,835 16,051,102 18,577,934 Subsequent Year's Expenses 4,505,976 5,583,557 6,104,267 6,277,265 6,393,511 6,529,644 6,675,976 6,739,323 6,808,181 7,120,076 Ending Unrestricted Net Position as % of Expenses 111.5% 114.5% 93.0% 106.1% 112.6% 137.9% 171.1% 198.9% 235.8% 260.9% Projected Table E-1 Water Fund Capital Improvement Plan Project Description 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Use of Funds W-001 - W1 - Water 1 - Portable Generator - - 106,090 - - - - - - - W-002 - W2 - Water 2 - F-550 Service Truck - - - - - - 155,227 - - - W-003 - W3 - Water 3 - RAM 3500 Van - - - - - - 53,180 - - - W-004 - W4 - Water 4 - F-250 Service Truck - - - - - - - - - 85,853 W-011 - T1 - Tower 1 - Langly Ct 50,000 - - - - - - - - - W-012 - T2 - Tower 2 - Ideal Ave - - 848,720 - - - - - - - W-014 - T4 - Tower 4 - Inwood Ave - - - - - - - - 1,013,416 - W-017 - WL2 - Well 2 - 55th St 60,000 - - - - - - - - - W-019 - WL4 - Well 4 - 50th St - - - - - - 59,703 - - - W-020 - WL5 - Well 5 - Lilly Ave - - - - - 57,964 - - - - W-021 - WL6 - Well 6 - Future Well & Site Acquisition 750,000 - - - - - - - - - W-022 - WL7 - Well 7 (or 3) - Test Well & Site Acquisition - 772,500 - - - - - - - - W-041 - TP1 - Treatment Plant 1 24,500,000 24,500,000 - - - - - - - - W-042 - TP2 - Treatment 2 - Well 2 - GAC Filter System 2,500,000 - - - - - - - - - W-100 - 2025 Street & Utility Improvements - Water portion 320,000 - - - - - - - - - W-101 - 2026 Street & Utility Improvements - Water portion - 336,810 - - - - - - - - W-103 - 2028 Street & Utility Improvements - Water portion - - - 163,909 - - - - - - W-105 - 2030 Street & Utility Improvements - Water portion - - - - - 115,927 - - - - W-106 - 2031 Street & Utility Improvements - Water portion - - - - - - 155,227 - - - W-107 - 2032 Street & Utility Improvements - Water portion - - - - - - - 258,274 - - W-108 - 2033 Street & Utility Improvements - Water portion - - - - - - - - 696,724 - W-120 - Village East Trunk Watermain & PRV 352,800 236,900 - - - - - - - - W-122 - Hudson Blvd - Trunk Watermain Extension - - 1,909,620 - - - - - - - W-124 - 5th St N - Keats to Lake Elmo Ave - Water Portion - - - - - 1,970,766 - - - - W-130 - Trunk Watermain Extensions - - - 1,639,091 1,688,263 - 1,791,078 - - - W-160 - Watermain Oversizing 150,475 133,900 201,571 - - - - - - - W-090 - Future - Homestead Street & Utility Impr - - - - - - - - - 1,219,963 W-091 - Future - PP/EP/20th Street & Utility Impr - - - - - - - - - 3,261,933 W-092 - Future - Tartan Street & Utility Impr - - - - - - - - - 2,479,069 W-093 - Future - 45th Street Watermain Extension - - - - - - - - - 2,870,501 W-094 - Future - DL/SP/For Street & Utility Impr - - - - - - - - - 587,148 Cost of Issuance 5,000 12,500 51,660 37,000 31,737 38,307 33,922 - 13,276 - Total Use of Funds 28,688,275 25,992,610 3,117,661 1,840,000 1,720,000 2,182,964 2,248,336 258,274 1,723,416 10,504,467 Source of Funds Par Amount of Bonds 325,000 785,000 2,810,000 1,840,000 1,720,000 2,125,000 1,825,000 - 710,000 - Special assessments 320,000 - - - - - - - - - Other revenues 27,000,000 24,500,000 - - - - - - - 10,504,467 Use of cash from fund 1,043,275 707,610 307,661 - - 57,964 423,336 258,274 1,013,416 - Total Source of Funds 28,688,275 25,992,610 3,117,661 1,840,000 1,720,000 2,182,964 2,248,336 258,274 1,723,416 10,504,467 Projected Table G Water Fund Customers/Usage and Rates Model Year 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Customers, Volume Billed (in 1,000 of gallons), and REC Residential customers 3,478 3,561 3,652 3,774 4,010 4,243 4,438 4,547 4,612 4,642 4,666 Residential Tier 1: 0-15,000 gal 156,527 161,495 166,943 174,311 188,439 202,411 214,151 220,691 224,591 226,391 227,831 Residential Tier 2: 15,001-30,000 gal 62,819 64,475 66,291 68,747 73,456 78,114 82,027 84,207 85,507 86,107 86,587 Residential Tier 3: 30,001-50,000 gal 37,715 37,715 37,715 37,715 37,715 37,715 37,715 37,715 37,715 37,715 37,715 Residential Tier 4: 50,001-80,000 gal 21,975 21,975 21,975 21,975 21,975 21,975 21,975 21,975 21,975 21,975 21,975 Residential Tier 5: >80,001 gal 18,145 18,145 18,145 18,145 18,145 18,145 18,145 18,145 18,145 18,145 18,145 Residential Volume Billed Total 297,181 303,805 311,069 320,893 339,730 358,360 374,013 382,733 387,933 390,333 392,253 Multi-Family Residential customers - 95 190 260 260 371 482 594 705 816 816 Multi-Family Residential Tier 1: 0-15,000 gal - 3,814 7,629 10,439 10,439 14,904 19,368 23,833 28,298 32,762 32,762 Multi-Family Residential Tier 2: 15,001-30,000 gal - - - - - - - - - - - Multi-Family Residential Tier 3: 30,001-50,000 gal - - - - - - - - - - - Multi-Family Residential Tier 4: 50,001-80,000 gal - - - - - - - - - - - Multi-Family Residential Tier 5: >80,001 gal - - - - - - - - - - - Multi-Family Residential Volume Billed Total - 3,814 7,629 10,439 10,439 14,904 19,368 23,833 28,298 32,762 32,762 Commercial customers 113 245 263 294 321 348 376 444 513 591 670 Commercial Tier 1: 0-15,000 gallons 3,916 11,836 12,886 14,786 16,386 17,986 19,690 23,794 27,898 32,602 37,306 Commercial Tier 2: 15,001-30,000 gal 2,445 5,085 5,435 6,068 6,602 7,135 7,703 9,071 10,439 12,007 13,575 Commercial Tier 3: 30,001-50,000 gal 2,297 2,297 2,297 2,297 2,297 2,297 2,297 2,297 2,297 2,297 2,297 Commercial Tier 4: 50,001-80,000 gal 2,545 2,545 2,545 2,545 2,545 2,545 2,545 2,545 2,545 2,545 2,545 Commercial Tier 5: >80,001 gal 11,157 11,157 11,157 11,157 11,157 11,157 11,157 11,157 11,157 11,157 11,157 Commercial Volume Billed Total 22,360 32,920 34,320 36,853 38,987 41,120 43,392 48,864 54,336 60,608 66,880 Irrigation customers 230 230 230 230 230 230 230 230 230 230 230 Irrigation Tier 1: 0-30,000 gallons 3,611 9,611 15,611 21,611 27,611 33,611 39,611 45,611 51,611 57,611 63,611 Irrigation Tier 2: 30,001-50,000 gal 2,017 2,017 2,017 2,017 2,017 2,017 2,017 2,017 2,017 2,017 2,017 Irrigation Tier 3: 50,001-80,000 gal 2,610 6,610 10,610 14,610 18,610 22,610 26,610 30,610 34,610 38,610 42,610 Irrigation Tier 4: >80,001 gal 22,797 22,797 22,797 22,797 22,797 22,797 22,797 22,797 22,797 22,797 22,797 Irrigation Volume Billed Total 31,035 41,035 51,035 61,035 71,035 81,035 91,035 101,035 111,035 121,035 131,035 Hotel/Motel customers 3 3 3 3 3 3 3 3 3 3 3 Hotel/Motel Tier 1: 0-30,000 gal 120 3,720 7,320 10,920 14,520 18,120 21,720 25,320 28,920 32,520 36,120 Hotel/Motel Tier 2: 30,001-50,000 gal 80 80 80 80 80 80 80 80 80 80 80 Hotel/Motel Tier 3: >50,001 gal 2,338 2,338 2,338 2,338 2,338 2,338 2,338 2,338 2,338 2,338 2,338 Hotel/Motel Volume Billed Total 2,538 6,138 9,738 13,338 16,938 20,538 24,138 27,738 31,338 34,938 38,538 Total Customers Billed 3,824 4,134 4,337 4,562 4,824 5,194 5,530 5,818 6,063 6,283 6,385 Total Volume Billed 353,114 387,712 413,791 442,558 477,129 515,956 551,946 584,203 612,940 639,676 661,468 Total Connection REC 326 481 203 224 262 370 335 288 244 219 102 Total Water Availability REC 431 859 126 492 50 125 262 - 73 70 71 Projected Table G Water Fund Customers/Usage and Rates Model Year 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Projected Customer Rates for Fees and Charges (Dollars) Residential quarterly base fee 22.52 27.02 32.43 38.91 46.70 56.04 57.72 59.45 61.23 63.07 64.96 Residential Tier 1: 0-15,000 gal 2.25 2.70 3.24 3.89 4.67 5.60 5.77 5.94 6.12 6.30 6.49 Residential Tier 2: 15,001-30,000 gal 2.71 3.25 3.90 4.68 5.62 6.74 6.95 7.15 7.37 7.59 7.82 Residential Tier 3: 30,001-50,000 gal 3.24 3.89 4.67 5.60 6.72 8.06 8.30 8.55 8.81 9.07 9.35 Residential Tier 4: 50,001-80,000 gal 3.90 4.68 5.62 6.74 8.09 9.70 10.00 10.30 10.60 10.92 11.25 Residential Tier 5: >80,001 gal 4.66 5.59 6.71 8.05 9.66 11.60 11.94 12.30 12.67 13.05 13.44 Multi-Family Residential quarterly base fee 22.52 27.02 32.43 38.91 46.70 56.04 57.72 59.45 61.23 63.07 64.96 Multi-Family Residential Tier 1: 0-15,000 gal 2.25 2.70 3.24 3.89 4.67 5.60 5.77 5.94 6.12 6.30 6.49 Multi-Family Residential Tier 2: 15,001-30,000 gal 2.71 3.25 3.90 4.68 5.62 6.74 6.95 7.15 7.37 7.59 7.82 Multi-Family Residential Tier 3: 30,001-50,000 gal 3.24 3.89 4.67 5.60 6.72 8.06 8.30 8.55 8.81 9.07 9.35 Multi-Family Residential Tier 4: 50,001-80,000 gal 3.90 4.68 5.62 6.74 8.09 9.70 10.00 10.30 10.60 10.92 11.25 Multi-Family Residential Tier 5: >80,001 gal 4.66 5.59 6.71 8.05 9.66 11.60 11.94 12.30 12.67 13.05 13.44 Commercial quarterly base fee 28.15 33.78 40.54 48.64 58.37 70.05 72.15 74.31 76.54 78.84 81.20 Commercial Tier 1: 0-15,000 gallons 3.49 4.19 5.03 6.03 7.24 8.68 8.94 9.21 9.49 9.77 10.07 Commercial Tier 2: 15,001-30,000 gal 3.67 4.40 5.28 6.34 7.61 9.13 9.41 9.69 9.98 10.28 10.59 Commercial Tier 3: 30,001-50,000 gal 4.24 5.09 6.11 7.33 8.79 10.55 10.87 11.19 11.53 11.87 12.23 Commercial Tier 4: 50,001-80,000 gal 5.62 6.74 8.09 9.71 11.65 13.98 14.40 14.84 15.28 15.74 16.21 Commercial Tier 5: >80,001 gal 7.47 8.96 10.76 12.91 15.49 18.59 19.15 19.72 20.31 20.92 21.55 Irrigation quarterly base fee 28.15 33.78 40.54 48.64 58.37 70.05 72.15 74.31 76.54 78.84 81.20 Irrigation Tier 1: 0-30,000 gallons 2.71 3.25 3.90 4.68 5.62 6.74 6.95 7.15 7.37 7.59 7.82 Irrigation Tier 2: 30,001-50,000 gal 3.24 3.89 4.67 5.60 6.72 8.06 8.30 8.55 8.81 9.07 9.35 Irrigation Tier 3: 50,001-80,000 gal 3.90 4.68 5.62 6.74 8.09 9.70 10.00 10.30 10.60 10.92 11.25 Irrigation Tier 4: >80,001 gal 4.66 5.59 6.71 8.05 9.66 11.60 11.94 12.30 12.67 13.05 13.44 Hotel/Motel quarterly base fee 28.15 33.78 40.54 48.64 58.37 70.05 72.15 74.31 76.54 78.84 81.20 Hotel/Motel Tier 1: 0-30,000 gal 3.49 4.19 5.03 6.03 7.24 8.68 8.94 9.21 9.49 9.77 10.07 Hotel/Motel Tier 2: 30,001-50,000 gal 3.67 4.40 5.28 6.34 7.61 9.13 9.41 9.69 9.98 10.28 10.59 Hotel/Motel Tier 3: >50,001 gal 4.49 5.39 6.47 7.76 9.31 11.17 11.51 11.85 12.21 12.57 12.95 Connection charge Per REC Unit 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 1,000.00 Availability charge Per REC Unit 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 3,000.00 Table G Water Fund Customers/Usage and Rates Model Year 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Projected Revenue by Fee Type (Dollars) Residential quarterly base fee 313,298 384,908 473,668 587,516 749,003 951,000 1,024,704 1,081,365 1,129,726 1,171,187 1,212,558 Residential Tier 1: 0-15,000 gal 352,186 436,037 540,895 677,721 879,181 1,133,243 1,234,941 1,310,834 1,374,019 1,426,582 1,478,726 Residential Tier 2: 15,001-30,000 gal 170,239 209,673 258,694 321,934 412,785 526,748 569,731 602,418 630,070 653,526 676,884 Residential Tier 3: 30,001-50,000 gal 122,197 146,636 175,963 211,156 253,387 304,064 313,186 322,582 332,259 342,227 352,494 Residential Tier 4: 50,001-80,000 gal 85,703 102,843 123,412 148,094 177,713 213,255 219,653 226,242 233,030 240,021 247,221 Residential Tier 5: >80,001 gal 84,556 101,467 121,760 146,112 175,335 210,402 216,714 223,215 229,912 236,809 243,913 Total Residential 1,128,178 1,381,563 1,694,392 2,092,533 2,647,402 3,338,711 3,578,928 3,766,657 3,929,016 4,070,351 4,211,797 Multi-Family Residential quarterly base fee - 10,269 24,646 40,471 48,565 83,204 111,373 141,157 172,628 205,861 212,037 Multi-Family Residential Tier 1: 0-15,000 gal - 10,298 24,716 40,587 48,704 83,442 111,691 141,561 173,122 206,449 212,643 Multi-Family Residential Tier 2: 15,001-30,000 gal - - - - - - - - - - - Multi-Family Residential Tier 3: 30,001-50,000 gal - - - - - - - - - - - Multi-Family Residential Tier 4: 50,001-80,000 gal - - - - - - - - - - - Multi-Family Residential Tier 5: >80,001 gal - - - - - - - - - - - Total Multi-Family - 20,568 49,362 81,058 97,270 166,645 223,064 282,718 345,750 412,310 424,679 Commercial quarterly base fee 12,724 33,104 42,563 57,237 74,911 97,364 108,481 132,067 156,971 186,404 217,461 Commercial Tier 1: 0-15,000 gallons 13,667 49,569 64,760 89,170 118,583 156,195 176,122 219,217 264,738 318,658 375,575 Commercial Tier 2: 15,001-30,000 gal 8,973 22,394 28,723 38,484 50,239 65,158 72,455 87,882 104,170 123,412 143,714 Commercial Tier 3: 30,001-50,000 gal 9,739 11,687 14,025 16,829 20,195 24,234 24,961 25,710 26,482 27,276 28,094 Commercial Tier 4: 50,001-80,000 gal 14,303 17,163 20,596 24,715 29,658 35,590 36,658 37,758 38,890 40,057 41,259 Commercial Tier 5: >80,001 gal 83,343 100,011 120,014 144,016 172,820 207,384 213,605 220,013 226,614 233,412 240,414 Total Commercial 142,749 233,930 290,680 370,452 466,407 585,925 632,283 722,648 817,865 929,218 1,046,517 Irrigation quarterly base fee 25,898 31,078 37,293 44,752 53,702 64,443 66,376 68,367 70,418 72,531 74,707 Irrigation Tier 1: 0-30,000 gallons 9,786 31,255 60,920 101,202 155,159 226,651 275,124 326,302 380,303 437,250 497,272 Irrigation Tier 2: 30,001-50,000 gal 6,535 7,842 9,411 11,293 13,551 16,261 16,749 17,252 17,769 18,302 18,851 Irrigation Tier 3: 50,001-80,000 gal 10,179 30,935 59,586 98,460 150,500 219,418 265,982 315,144 367,015 421,715 479,367 Irrigation Tier 4: >80,001 gal 106,234 127,481 152,977 183,572 220,287 264,344 272,275 280,443 288,856 297,522 306,447 Total Irrigation 158,632 228,590 320,187 439,278 593,199 791,116 896,506 1,007,507 1,124,361 1,247,320 1,376,645 Hotel/Motel quarterly base fee 338 405 486 584 700 841 866 892 918 946 974 Hotel/Motel Tier 1: 0-30,000 gal 419 15,579 36,787 65,855 105,079 157,358 194,280 233,276 274,436 317,856 363,635 Hotel/Motel Tier 2: 30,001-50,000 gal 294 352 423 507 609 731 752 775 798 822 847 Hotel/Motel Tier 3: >50,001 gal 10,498 12,597 15,117 18,140 21,768 26,121 26,905 27,712 28,544 29,400 30,282 Total Hotel/Motel 11,548 28,934 52,813 85,086 128,156 185,051 222,804 262,655 304,697 349,025 395,738 Connection charges 326,000 481,000 203,000 224,000 262,000 370,000 335,000 288,000 244,000 219,000 102,000 Availability charges 1,293,000 2,577,000 378,000 1,476,000 150,000 375,000 786,000 - 219,000 210,000 213,000 Total Revenue by Fee Type 3,060,107 4,951,585 2,988,434 4,768,408 4,344,434 5,812,448 6,674,584 6,330,184 6,984,689 7,437,225 7,770,376 Total Charges for Services, Capital Contribution, and Connection Charges (Dollars) Charges for services 1,463,182 1,893,585 2,407,434 3,068,408 3,932,434 5,067,448 5,553,584 6,042,184 6,521,689 7,008,225 7,455,376 Connection charges 326,000 481,000 203,000 224,000 262,000 370,000 335,000 288,000 244,000 219,000 102,000 Availability charges 1,293,000 2,577,000 378,000 1,476,000 150,000 375,000 786,000 - 219,000 210,000 213,000 Total 3,082,182 4,951,585 2,988,434 4,768,408 4,344,434 5,812,448 6,674,584 6,330,184 6,984,689 7,437,225 7,770,376 Table 11 Water Fund Change in Net Capital Assests Prior Year Actual Prior Year Actual Model Year 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Balance of Capital Assets and Depreciation Capital assets 65,601,629 72,596,436 76,178,995 104,862,270 130,842,380 133,908,381 135,711,381 137,399,644 139,544,301 141,758,715 142,016,989 143,727,128 154,231,595 Less allowance for depreciation 11,665,199 13,813,730 16,051,825 19,007,002 22,611,681 26,293,011 30,019,416 33,788,027 37,610,255 41,487,843 45,371,887 49,298,686 53,488,096 Net capital assets 53,936,430 58,782,706 60,127,170 85,855,269 108,230,699 107,615,370 105,691,965 103,611,617 101,934,047 100,270,873 96,645,102 94,428,443 100,743,499 Acquisition of capital assets 10,199,783 6,994,807 3,582,559 28,683,275 25,980,110 3,066,001 1,803,000 1,688,263 2,144,657 2,214,414 258,274 1,710,140 ########## Less allowance for depreciation on current assets 1,868,224 2,148,531 2,148,531 2,238,095 2,955,177 3,604,680 3,681,330 3,726,405 3,768,611 3,822,228 3,877,588 3,884,045 3,926,798 Less allowance for depreciation on new assets 89,564 717,082 649,503 76,650 45,075 42,207 53,616 55,360 6,457 42,753 262,612 Total increase in allowance for depreciation 1,868,224 2,148,531 2,238,095 2,955,177 3,604,680 3,681,330 3,726,405 3,768,611 3,822,228 3,877,588 3,884,045 3,926,798 4,189,410 Change in net capital assets 8,331,559 4,846,276 1,344,464 25,728,098 22,375,430 (615,329) (1,923,405) (2,080,348) (1,677,571) (1,663,174) (3,625,771) (2,216,659) 6,315,057 * Number of years new assets depreciated over: 40 Projected Appendix E Sewer Charts & Reports •Charts o Ending Cash by Year o Revenues & Expenses o Customers & Annual Sewer Volume Billed •Reports o Summary of Key Financial Information o Pro Forma o Projected Year End Cash Balance o Capital Improvement Plan o Customers / Usage & Rates o Change in Net Capital Assets $0 $2 $4 $6 $8 $10 $12 $14 $16 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Mi l l i o n s Sanitary Sewer Fund Ending Cash by Year $0 $1 $2 $3 $4 $5 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 Mi l l i o n s Chart 15 Sanitary Sewer Fund Revenues and Expenses Revenues fluctuate with timing of private development and collection of development related revenues including connection and availability charges and special assessments Revenues Expenses 0 1,000 2,000 3,000 4,000 5,000 6,000 - 20,000 40,000 60,000 80,000 100,000 120,000 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 To t a l C u s t o m e r U n i t s ( E R U ) Vo l u m e B i l l e d ( 1 , 0 0 0 G a l ) Chart 16 Sanitary Sewer Fund Customers and Annual Volume Billed Volume Billed Total Customer Units Table 2 Sanitary Sewer Fund Summary of Key Financial Information Amounts are Estimated 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Revenues 2,573,234 3,957,031 2,580,323 4,384,891 2,390,208 3,278,754 3,943,013 3,385,839 3,847,924 4,195,698 Expenses 2,650,741 2,774,322 2,823,098 2,881,391 2,940,159 3,058,751 3,137,346 3,219,969 3,346,721 3,453,139 Ending Cash by Purpose Cash for next year planned capita 925,920 41,200 265,225 - 1,896,482 115,927 - 1,229,874 - (505,000) Cash for next year debt service 1,311,225 1,304,013 1,295,913 1,291,625 1,286,122 1,279,363 1,214,550 1,184,775 1,127,838 899,688 Restricted availability charges 7,288,189 8,847,259 8,731,170 8,088,375 7,063,878 6,010,638 4,985,450 3,955,225 2,952,163 2,150,313 Unrestricted cash 628,006 667,985 710,366 3,267,180 2,225,241 3,770,841 6,020,160 6,386,207 8,349,640 11,065,002 Ending Cash 10,153,340 10,860,456 11,002,674 12,647,180 12,471,723 11,176,768 12,220,160 12,756,081 12,429,640 13,610,002 Net Position Ending Unrestricted Net Position 14,898,629 15,310,930 15,159,923 16,512,795 16,047,442 14,472,969 15,238,599 15,510,722 14,920,483 15,837,047 Ending Unrestricted Net Position as % of Expenses 537% 542% 526% 562% 525% 461% 473% 463% 432% 442% Total Customer Units 2,632 2,942 3,146 3,332 3,553 3,871 4,155 4,391 4,622 4,831 Annual Increase in Customer Units 128 310 204 187 221 319 283 236 230 209 Volume Billed 78,795 80,575 82,435 83,985 85,924 88,844 91,394 93,074 94,694 96,004 Average Annual Change in Residential Rates (Average Volume 20,000 gallons per quarter) 0.9% 20.0% 20.0% 20.0% 20.0%10.0% 3.0% 3.0% 3.0% 3.0% Table L Sanitary Sewer Fund Pro Forma Prior Year Actual Prior Year Actual 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Revenues Charges for services 671,474 760,781 867,670 1,088,531 1,374,523 1,719,924 2,167,708 2,582,120 2,871,513 3,146,339 3,449,424 3,774,198 Investment income (138,866) 387,540 173,564 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 2,500 Other revenues 26,819 33,126 - - - - - - - - - - Availability charges 477,500 385,500 1,246,000 2,385,000 - 1,476,000 - 375,000 786,000 - 165,000 210,000 Capital assets contributions non-cash 1,272,767 2,060,698 - - - - - - - - - - Intergovernmental revenue 544 11 - - - - - - - - - - Special assessments 2,250,585 519,257 - - 1,000,000 1,000,000 - - - - - - Refunds and reimbursements - - - - - - - - - - - - Lateral Benefit Fee 13,100 13,700 - - - - - - - - - - Connection charges 310,500 249,500 286,000 481,000 203,300 186,467 220,000 319,133 283,000 237,000 231,000 209,000 Transfer in - - - - - - - - - - - - Total Revenues 4,884,423 4,410,113 2,573,234 3,957,031 2,580,323 4,384,891 2,390,208 3,278,754 3,943,013 3,385,839 3,847,924 4,195,698 Expenses Personal services 211,488 242,151 239,138 246,312 253,702 261,313 269,152 277,227 285,544 294,110 302,933 312,021 Materials and supplies 26,354 23,370 23,892 24,609 25,347 26,107 26,891 27,697 28,528 29,384 30,266 31,174 Professional services 61,544 133,108 153,239 157,836 162,571 167,448 172,472 177,646 182,975 188,465 194,119 199,942 Repairs and maintenance 25,283 28,718 28,865 29,731 30,623 31,542 32,488 33,462 34,466 35,500 36,565 37,662 Utilities 26,466 27,145 25,055 25,807 26,581 27,378 28,200 29,046 29,917 30,814 31,739 32,691 Depreciation expense 960,729 1,121,402 1,133,938 1,157,086 1,158,116 1,164,746 1,164,746 1,212,158 1,215,056 1,215,056 1,245,803 1,245,803 Interest and fees on long-term debt 306,946 356,724 397,870 361,225 329,013 295,913 261,625 226,122 189,363 154,550 124,775 97,838 Transfer out to Capital Fund - 420,482 - - - - - - - - - - Intergovernmental payments (MCES) 421,859 526,216 644,326 771,717 837,146 906,944 984,585 1,075,392 1,171,496 1,272,089 1,380,521 1,496,008 Other expenses 31,189 65,446 4,418 - - - - - - - - - Cost of bond issuance - - - - - - - - - - - - Total Expenses 2,071,858 2,944,762 2,650,741 2,774,322 2,823,098 2,881,391 2,940,159 3,058,751 3,137,346 3,219,969 3,346,721 3,453,139 Change in Net Position 2,812,565 1,465,351 (77,507) 1,182,708 (242,774) 1,503,500 (549,951) 220,003 805,667 165,870 501,203 742,558 Ending net position 25,298,195 26,763,546 26,686,039 27,868,747 27,625,973 29,129,473 28,579,522 28,799,525 29,605,192 29,771,061 30,272,265 31,014,823 (840,964) Assets Cash and investments 11,502,451 10,780,154 10,153,340 10,860,456 11,002,674 12,647,180 12,471,723 11,176,768 12,220,160 12,756,081 12,429,640 13,610,002 Cash and investments held in escrow - - - - - - - - - - - - Special assessments receivable 5,054,729 4,816,024 4,789,289 4,494,474 4,201,249 3,909,615 3,619,719 3,340,201 3,062,439 2,798,641 2,534,843 2,271,045 Other current assets / receivables 174,669 222,703 90,000 90,000 90,000 90,000 90,000 90,000 90,000 90,000 90,000 90,000 Due from other governmental units - - - - - - - - - - - - Capital assets 26,714,376 30,685,246 31,186,667 32,112,587 32,153,787 32,419,012 32,419,012 34,315,494 34,431,421 34,431,421 35,661,295 35,661,295 Less Accumulated depreciation (4,283,616) (5,405,018) (6,538,956) (7,696,041) (8,854,157) (10,018,903) (11,183,649) (12,395,807) (13,610,863) (14,825,920) (16,071,723) (17,317,526) Deferred outflows 45,920 29,201 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 Total Assets and Deferred Outflows 39,208,529 41,128,310 39,695,340 39,876,476 38,608,553 39,061,904 37,431,805 36,541,656 36,208,157 35,265,224 34,659,056 34,329,816 Liabilities Other current liabilities / payables 566,880 370,630 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 15,000 Bonds payable 12,665,000 13,255,000 12,305,000 11,355,000 10,380,000 9,380,000 8,350,000 7,290,000 6,200,000 5,140,000 4,080,000 3,050,000 Unamortized bond premium 542,623 604,025 555,301 503,728 453,580 403,431 353,283 303,131 253,965 205,162 157,791 115,993 Other non-current liabilities 133,291 99,508 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 9,000 Unearned revenues - - - - - - - - - - - - Deferred inflows 2,540 35,601 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 125,000 Total Liabilities and Deferred Inflows 13,910,334 14,364,764 13,009,301 12,007,728 10,982,580 9,932,431 8,852,283 7,742,131 6,602,965 5,494,162 4,386,791 3,314,993 Total Liabilities, Deferred Inflows, and Net Position 39,208,529 41,128,310 39,695,340 39,876,476 38,608,553 39,061,904 37,431,805 36,541,656 36,208,157 35,265,224 34,659,056 34,329,816 Projected Table M Sanitary Sewer Fund Projected Year End Cash Balance Model Year 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Use of Cash Operations & Maintenance 1,118,933 1,256,012 1,335,970 1,420,732 1,513,788 1,620,471 1,732,927 1,850,363 1,976,142 2,109,499 Capital Acquisition 501,421 925,920 41,200 265,225 - 1,896,482 115,927 - 1,229,874 - Interfund Transfers Out - - - - - - - - - - Debt Service (includes transfers for debt) 1,347,870 1,311,225 1,304,013 1,295,913 1,291,625 1,286,122 1,279,363 1,214,550 1,184,775 1,127,838 Total Use of Cash 2,968,224 3,493,157 2,681,182 2,981,870 2,805,413 4,803,075 3,128,217 3,064,913 4,390,791 3,237,336 Source of Cash Revenues 2,573,234 3,957,031 2,580,323 4,384,891 2,390,208 3,278,754 3,943,013 3,385,839 3,847,924 4,195,698 Bond Proceeds - - - - - - - - - - Interfund Transfers In - - - - - - - - - - Total Source of Cash 2,573,234 3,957,031 2,580,323 4,384,891 2,390,208 3,278,754 3,943,013 3,385,839 3,847,924 4,195,698 Net Change in Other Assets and Liabilities (231,824) 243,243 243,077 241,486 239,748 229,367 228,596 214,996 216,427 222,001 Change in Cash Balance (626,814) 707,116 142,218 1,644,506 (175,457) (1,294,955) 1,043,392 535,921 (326,441) 1,180,362 Beginning Cash Balance 10,780,154 10,153,340 10,860,456 11,002,674 12,647,180 12,471,723 11,176,768 12,220,160 12,756,081 12,429,640 Ending Cash 10,153,340 10,860,456 11,002,674 12,647,180 12,471,723 11,176,768 12,220,160 12,756,081 12,429,640 13,610,002 Ending Cash by Purpose Cash for next year planned capital 925,920 41,200 265,225 - 1,896,482 115,927 - 1,229,874 - (505,000) Cash for next year debt service 1,311,225 1,304,013 1,295,913 1,291,625 1,286,122 1,279,363 1,214,550 1,184,775 1,127,838 899,688 Restricted availability charges 7,288,189 8,847,259 8,731,170 8,088,375 7,063,878 6,010,638 4,985,450 3,955,225 2,952,163 2,150,313 Unrestricted cash 628,006 667,985 710,366 3,267,180 2,225,241 3,770,841 6,020,160 6,386,207 8,349,640 11,065,002 Ending Cash 10,153,340 10,860,456 11,002,674 12,647,180 12,471,723 11,176,768 12,220,160 12,756,081 12,429,640 13,610,002 Net Position Ending Unrestricted Net Position 14,898,629 15,310,930 15,159,923 16,512,795 16,047,442 14,472,969 15,238,599 15,510,722 14,920,483 15,837,047 Projected Table E-2 Sanitary Sewer Fund Capital Improvement Plan Model Year Project Description 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Use of Funds S-093 - Future - DL/SP/For Street & Util Imp - Sewer - - - - - - - - - - 495,814 S-104 - 2029 Street Improvements - - - - - 1,896,482 - - - - - S-107 - Tapestry Sanitary Sewer Collection System Upgrades - - - - - - - - 1,229,874 - - S-108 - I-94 Lift Station and Forcemain Upgrade - 900,000 - - - - - - - - - S-109 - SE-5 Lift Station & Oversize - - - - - - 115,927 - - - - S-120 - Sewer Oversizing - 25,920 41,200 53,045 - - - - - - - S-121 - Sewer Oversizing for Sect 16 Extension - - - 212,180 - - - - - - - S-121 - Sewer Oversizing for Sect 16 Extension - - - 212,180 - - - - - - - Placeholder - - - - - - - - - - - Cost of Issuance - - - - - - - - - - 9,186 Total Use of Funds - 925,920 41,200 477,405 - 1,896,482 115,927 - 1,229,874 - 505,000 Source of Funds Par Amount of Bonds - - - - - - - - - - 505,000 Special assessments - - 1,000,000 1,000,000 - - - - - - 380,000 Use of cash from fund - 925,920 (958,800) (522,595) - 1,896,482 115,927 - 1,229,874 - (380,000) Total Source of Funds - 925,920 41,200 477,405 - 1,896,482 115,927 - 1,229,874 - 505,000 Projected Table H Sanitary Sewer Fund Customers/Usage and Rates Model Year 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Customers and Usage Residential quarterly base fee Customer Count 2,546 2,724 2,910 3,065 3,259 3,551 3,806 3,974 4,136 4,267 4,291 Residential Sanitary Sewer Tier 1 (first 10,000 gallons included in base fee) Volume Billed 78,795 80,575 82,435 83,985 85,924 88,844 91,394 93,074 94,694 96,004 96,244 Residential Sanitary Sewer Tier 2 usage per 1,000 gallons (after first 10,000 gal) Volume Billed 33,689 34,579 35,509 36,284 37,253 38,713 39,988 40,828 41,638 42,293 42,413 Commercial Sanitary Sewer Customer Count 86 218 236 267 294 321 349 417 486 564 643 Commercial Sanitary Sewer usage per 1,000 gallons Volume Billed 23,514 25,494 25,757 26,232 26,632 27,032 27,458 28,484 29,510 30,686 31,862 Total Customers Billed 2,632 2,942 3,146 3,332 3,553 3,871 4,155 4,391 4,622 4,831 4,933 Total Volume Billed (includes first tier billed) 135,998 140,648 143,701 146,501 149,809 154,589 158,840 162,386 165,842 168,983 170,519 Total Connection REC 286 481 203 186 220 319 283 237 231 209 102 Total Sewer Availability REC 415 795 - 492 - 125 262 - 55 70 71 Total Sewer Availability REC - Early Incentive Program - - - - - - - - - - - Total Sewer lateral benefit units - - - - - - - - - - - Customer Rates for Fees and Charges (Dollars) Residential quarterly base fee 55.74 66.89 80.27 96.32 115.58 127.14 130.95 134.88 138.93 143.10 147.39 Residential Sanitary Sewer Tier 1 (first 10,000 gallons included in base fee) - - - - - - - - - - - Residential Sanitary Sewer Tier 2 usage per 1,000 gallons (after first 10,000 gal) 4.99 5.99 7.19 8.62 10.35 11.38 11.72 12.08 12.44 12.81 13.19 Commercial Sanitary Sewer - - - - - - - - - - - Commercial Sanitary Sewer usage per 1,000 gallons 4.99 5.99 7.19 8.62 10.35 12.42 14.90 17.88 21.46 25.75 30.90 Connection charge Per REC Unit 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 Availability charge Per REC Unit 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 Availability charge Per REC Unit - Early Incentive Prg (50% of rate) 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 1,500 Revenue by Fee Type (Dolllars) Residential quarterly base fee 567,656 728,812 934,292 1,180,868 1,506,671 1,805,839 1,993,588 2,144,037 2,298,385 2,442,320 2,529,739 Residential Sanitary Sewer Tier 1 (first 10,000 gallons included in base fee) - - - - - - - - - - - Residential Sanitary Sewer Tier 2 usage per 1,000 gallons (after first 10,000 gal) 168,108 207,059 255,153 312,867 385,470 440,635 468,801 493,008 517,873 541,800 559,637 Total Residential 735,764 935,871 1,189,445 1,493,734 1,892,141 2,246,474 2,462,389 2,637,046 2,816,258 2,984,120 3,089,377 Commercial Sanitary Sewer - - - - - - - - - - - Commercial Sanitary Sewer usage per 1,000 gallons 117,337 152,660 185,078 226,190 275,567 335,647 409,123 509,293 633,166 790,077 984,428 Total Commercial 117,337 152,660 185,078 226,190 275,567 335,647 409,123 509,293 633,166 790,077 984,428 Connection charges 286,000 481,000 203,300 186,467 220,000 319,133 283,000 237,000 231,000 209,000 102,400 Availability charges 1,245,000 2,385,000 - 1,476,000 - 375,000 786,000 - 165,000 210,000 213,600 Availability charges - early incentive program - - - - - - - - - - - Total Revenue by Fee Type 2,384,101 3,954,531 1,577,823 3,382,391 2,387,708 3,276,254 3,940,513 3,383,339 3,845,424 4,193,198 4,389,804 Total Charges for Services, Capital Contribution, and Connection Charges (Dollars) Charges for services 867,670 1,088,531 1,374,523 1,719,924 2,167,708 2,582,120 2,871,513 3,146,339 3,449,424 3,774,198 4,073,804 Connection charges 286,000 481,000 203,300 186,467 220,000 319,133 283,000 237,000 231,000 209,000 102,400 Availability charges 1,245,000 2,385,000 - 1,476,000 - 375,000 786,000 - 165,000 210,000 213,600 Total 2,398,670 3,954,531 1,577,823 3,382,391 2,387,708 3,276,254 3,940,513 3,383,339 3,845,424 4,193,198 4,389,804 Projected Table 17 Sanitary Sewer Fund Change in Net Capital Assets Prior Year Actual Prior Year Actual Model Year 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Balance of Capital Assets and Depreciation Capital assets 26,714,376 30,685,246 31,186,667 32,112,587 32,153,787 32,419,012 32,419,012 34,315,494 34,431,421 34,431,421 35,661,295 35,661,295 36,157,109 Less allowance for depreciation 4,283,616 5,405,018 6,538,956 7,696,041 8,854,157 10,018,903 11,183,649 12,395,807 13,610,863 14,825,920 16,071,723 17,317,526 18,575,725 Net capital assets 22,430,760 25,280,228 24,647,711 24,416,545 23,299,630 22,400,109 21,235,363 21,919,687 20,820,558 19,605,501 19,589,572 18,343,769 17,581,384 Acquisition of capital assets 4,368,681 3,970,870 501,421 925,920 41,200 265,225 - 1,896,482 115,927 - 1,229,874 - 495,814 Less allowance for depreciation on current assets 960,729 1,121,402 1,121,402 1,133,938 1,157,086 1,158,116 1,164,746 1,164,746 1,212,158 1,215,056 1,215,056 1,245,803 1,245,803 Less allowance for depreciation on new assets 12,536 23,148 1,030 6,631 - 47,412 2,898 - 30,747 - 12,395 Total increase in allowance for depreciation 960,729 1,121,402 1,133,938 1,157,086 1,158,116 1,164,746 1,164,746 1,212,158 1,215,056 1,215,056 1,245,803 1,245,803 1,258,199 Change in net capital assets 3,407,952 2,849,468 (632,517) (231,166) (1,116,916) (899,521) (1,164,746) 684,324 (1,099,129) (1,215,056) (15,929) (1,245,803) (762,385) * Number of years new assets depreciated over: 40 Projected Appendix F Stormwater Charts & Reports •Charts o Ending Cash by Year o Revenues & Expenses o Customers & Annual Stormwater Volume Billed •Reports o Summary of Key Financial Information o Pro Forma o Projected Year End Cash Balance o Capital Improvement Plan o Customers / Usage & Rates o Change in Net Capital Assets $0.0 $0.2 $0.4 $0.6 $0.8 $1.0 $1.2 $1.4 $1.6 $1.8 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Mi l l i o n s Stormwater Fund Ending Cash by Year $0.0 $0.2 $0.4 $0.6 $0.8 $1.0 $1.2 $1.4 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 Mi l l i o n s Chart 19 Storm Sewer Fund Revenues and Expenses Expense, inclusive of depreciation, is planned to exceed revenues as the City draws on available cash to pay interest expense on bonds outstanding and relies on private development to finance future improvement Revenues Expenses - 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 Eq u i v a l e n t R e s i d e n t i a l U n i t s Chart 20 Storm Sewer Fund Total Customer (Equivalent Residential Unit) Billed Annually Table 3 Storm Water Fund Summary of Key Financial Information Amounts are Estimated 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Revenues 607,403 592,846 611,375 630,569 653,816 687,380 717,118 738,329 755,361 769,360 Expenses 1,077,354 1,096,041 1,100,638 1,134,039 1,156,736 1,155,922 1,159,460 1,163,112 1,166,863 1,172,795 Ending Cash by Purpose Cash for next year planned capital 685,405 82,400 218,545 54,636 56,275 57,964 59,703 61,494 63,339 63,339 Cash for next year debt service 259,463 259,713 254,913 308,496 308,313 312,200 310,913 309,425 104,813 87,350 Restricted availability charges 311,889 310,355 188,609 188,764 202,864 236,871 291,840 359,141 460,188 392,650 Unrestricted cash 121,443 125,086 128,839 132,704 136,685 140,786 145,010 149,360 335,666 713,374 Ending Cash 1,378,200 777,554 790,906 684,600 704,138 747,821 807,465 879,419 964,005 1,256,712 Net Position Ending Unrestricted Net Position 1,557,440 962,532 981,622 881,054 906,330 955,751 1,021,133 1,098,828 1,184,551 1,478,078 Ending Unrestricted Net Position as % of Expenses 142% 87% 87% 76% 78% 82% 88% 94% 101% 125% Total Customer Units (ERU)5,264 5,446 5,635 5,830 6,069 6,416 6,725 6,946 7,123 7,266 Average Annual Change in Rates Charged 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% 0.0% Table N Storm Sewer Fund Pro Forma Prior Year Actual Prior Year Actual 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Revenues Charges for services 510,061 580,896 570,385 588,446 606,975 626,169 649,416 682,980 712,718 733,929 750,961 764,960 Investment income (15,423) 44,496 20,510 4,400 4,400 4,400 4,400 4,400 4,400 4,400 4,400 4,400 Other revenues 33,835 30,329 16,508 - - - - - - - - - Availability charges - - - - - - - - - - - - Capital assets contributions non-cash 1,994,356 2,402,156 - - - - - - - - - - Intergovernmental revenue - - - - - - - - - - - - Special assessments 253 7,363 - - - - - - - - - - Total Revenues 2,523,082 3,065,240 607,403 592,846 611,375 630,569 653,816 687,380 717,118 738,329 755,361 769,360 Expenses Personal services 118,674 106,356 132,943 136,931 141,039 145,270 149,629 154,117 158,741 163,503 168,408 173,460 Materials and supplies 10,885 9,453 9,379 9,660 9,950 10,249 10,556 10,873 11,199 11,535 11,881 12,237 Professional services 37,021 49,838 70,676 72,796 74,980 77,230 79,546 81,933 84,391 86,923 89,530 92,216 Repairs and maintenance 35,370 49,132 22,278 22,946 23,635 24,344 25,074 25,826 26,601 27,399 28,221 29,068 Utilities 572 422 536 552 569 586 603 621 640 659 679 699 Depreciation expense 691,840 791,557 796,557 813,692 815,752 836,466 837,832 839,239 840,688 842,181 843,718 845,301 Interest and fees on long-term debt 45,005 40,562 44,113 39,463 34,713 29,913 53,496 43,313 37,200 30,913 24,425 19,813 Transfer out to Capital Fund - - - - - - - - - - - - Other expenses 13,432 9,791 872 - - - - - - - - - Cost of bond issuance - - - - - 9,983 - - - - - - Total Expenses 952,799 1,057,111 1,077,354 1,096,041 1,100,638 1,134,039 1,156,736 1,155,922 1,159,460 1,163,112 1,166,863 1,172,795 Change in Net Position 1,570,283 2,008,129 (469,951) (503,195) (489,263) (503,471) (502,921) (468,542) (442,342) (424,783) (411,502) (403,435) Ending net position 12,767,271 14,775,400 14,305,449 13,802,254 13,312,992 12,809,521 12,306,600 11,838,058 11,395,716 10,970,933 10,559,431 10,155,996 Assets Cash and investments 1,256,301 1,417,272 1,378,200 777,554 790,906 684,600 704,138 747,821 807,465 879,419 964,005 1,256,712 Cash and investments held in escrow - - - - - - - - - - - - Special assessments receivable 33,460 43,281 - - - - - - - - - - Other current assets / receivables 307,271 319,378 310,000 310,000 310,000 310,000 310,000 310,000 310,000 310,000 310,000 310,000 Due from other governmental units - - - - - - - - - - - - Capital assets 16,123,229 18,525,385 18,725,385 19,410,790 19,493,190 20,321,753 20,376,389 20,432,665 20,490,628 20,550,331 20,611,825 20,675,163 Less Accumulated depreciation (2,414,262) (3,205,819) (4,002,376) (4,816,068) (5,631,820) (6,468,286) (7,306,119) (8,145,358) (8,986,046) (9,828,226) (10,671,944) (11,517,246) Deferred outflows 26,010 14,242 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 25,000 Total Assets and Deferred Outflows 15,332,009 17,113,739 16,436,209 15,707,276 14,987,276 14,873,067 14,109,408 13,370,128 12,647,048 11,936,524 11,238,885 10,749,630 Liabilities Other current liabilities / payables 32,999 33,646 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 35,000 Bonds payable 2,400,000 2,190,000 1,975,000 1,755,000 1,530,000 1,925,000 1,670,000 1,405,000 1,130,000 850,000 565,000 480,000 Unamortized bond premium 55,236 49,498 43,760 38,022 32,284 26,546 20,808 15,070 9,332 3,591 2,454 1,634 Other non-current liabilities 75,071 48,029 75,000 75,000 75,000 75,000 75,000 75,000 75,000 75,000 75,000 75,000 Unearned revenues - - - - - - - - - - - - Deferred inflows 1,432 17,166 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 Total Liabilities and Deferred Inflows 2,564,738 2,338,339 2,130,760 1,905,022 1,674,284 2,063,546 1,802,808 1,532,070 1,251,332 965,591 679,454 593,634 Total Liabilities, Deferred Inflows, and Net Position 15,332,009 17,113,739 16,436,209 15,707,276 14,987,276 14,873,067 14,109,408 13,370,128 12,647,048 11,936,524 11,238,885 10,749,630 Projected Table O Storm Sewer Fund Projected Year End Cash Balance Model Year 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 Use of Cash Operations & Maintenance 236,684 242,886 250,173 257,678 265,408 273,371 281,572 290,019 298,720 307,681 Capital Acquisition 200,000 685,405 82,400 838,545 54,636 56,275 57,964 59,703 61,494 63,339 Interfund Transfers Out - - - - - - - - - - Debt Service (includes transfers for debt) 259,113 259,463 259,713 254,913 308,496 308,313 312,200 310,913 309,425 104,813 Total Use of Cash 695,797 1,187,754 592,285 1,351,136 628,541 637,959 651,736 660,634 669,638 475,832 Source of Cash Revenues 607,403 592,846 611,375 630,569 653,816 687,380 717,118 738,329 755,361 769,360 Bond Proceeds - - - 620,000 - - - - - - Interfund Transfers In - - - - - - - - - - Total Source of Cash 607,403 592,846 611,375 1,250,569 653,816 687,380 717,118 738,329 755,361 769,360 Net Change in Other Assets and Liabilities 49,322 (5,738) (5,738) (5,738) (5,738) (5,738) (5,738) (5,741) (1,137) (820) Change in Cash Balance (39,072) (600,646) 13,351 (106,305) 19,537 43,683 59,644 71,954 84,585 292,708 Beginning Cash Balance 1,417,272 1,378,200 777,554 790,906 684,600 704,138 747,821 807,465 879,419 964,005 Ending Cash 1,378,200 777,554 790,906 684,600 704,138 747,821 807,465 879,419 964,005 1,256,712 Ending Cash by Purpose Cash for next year planned capital 685,405 82,400 218,545 54,636 56,275 57,964 59,703 61,494 63,339 63,339 Cash for next year debt service 259,463 259,713 254,913 308,496 308,313 312,200 310,913 309,425 104,813 87,350 Restricted availability charges 311,889 310,355 188,609 188,764 202,864 236,871 291,840 359,141 460,188 392,650 Unrestricted cash 121,443 125,086 128,839 132,704 136,685 140,786 145,010 149,360 335,666 713,374 Ending Cash 1,378,200 777,554 790,906 684,600 704,138 747,821 807,465 879,419 964,005 1,256,712 Net Position Ending Unrestricted Net Position 1,557,440 962,532 981,622 881,054 906,330 955,751 1,021,133 1,098,828 1,184,551 1,478,078 Projected Table E-3 Storm Water Fund Capital Improvement Plan Model Year Project Description 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Use of Funds SW-001 - Phase 2 Regional Drainage Impr. - Northstar Pond - 285,405 - - - - - - - - - SW-002 - Phase 3 Regional Drainage Impr - Lions Park Pond - - - 610,018 - - - - - - - SW-003 - Stormwater Reuse - Development Irrigation Systems - - 41,200 42,436 - - - - - - - SW-004 - Stormwater Reuse - Lions & VFW Park Irrigation - - - 80,628 - - - - - - - SW-005 - Stormwater Reuse - Irrigation Systems - - 41,200 42,436 - - - - - - - SW-006 -Hudson Boulevard Culvert Repair - 400,000 - - - - - - - - - SW-TBD - Future Unidentified Stormwater Projects - - - 53,045 54,636 56,275 57,964 59,703 61,494 63,339 - Placeholder - - - - - - - - - - - Placeholder - - - - - - - - - - - Cost of Issuance - - - 9,983 - - - - - - - Total Use of Funds - 685,405 82,400 838,545 54,636 56,275 57,964 59,703 61,494 63,339 - Source of Funds Par Amount of Bonds - - - 620,000 - - - - - - - Special assessments - - - - - - - - - - - Use of cash from fund - 685,405 82,400 218,545 54,636 56,275 57,964 59,703 61,494 63,339 - Total Source of Funds - 685,405 82,400 838,545 54,636 56,275 57,964 59,703 61,494 63,339 - Projected Table I Storm Water Fund Customer/Usage and Rates Model Year 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Customers (Residential Equivalent) Residential REC 4,924 5,102 5,288 5,480 5,716 6,060 6,367 6,587 6,763 6,904 6,928 Commercial REC 340 344 347 350 353 356 358 359 360 362 363 Vacant property (acres)219 219 219 219 219 219 219 219 219 219 219 Customer Rates for Fees and Charges (Dollars) Storm Sewer Annual Basic Charge - Residential 95.00 95.00 95.00 95.00 95.00 95.00 95.00 95.00 95.00 95.00 95.00 Storm Sewer Annual Equivalent Basic Charge Commercial Billed at 3.08X Residential 95.00 95.00 95.00 95.00 95.00 95.00 95.00 95.00 95.00 95.00 95.00 Storm Sewer Annual Charge - Vacant Land - Per Acre Charge 14.25 14.25 14.25 14.25 14.25 14.25 14.25 14.25 14.25 14.25 14.25 Revenue by Fee Type (Dolllars) Storm Sewer Annual Basic Charge - Residential 467,780 484,671 502,322 520,638 543,007 575,694 604,846 625,765 642,504 655,918 658,198 Storm Sewer Annual Equivalent Basic Charge Commercial Billed at 3.08X Residential 99,484 100,654 101,532 102,410 103,288 104,166 104,751 105,043 105,336 105,921 106,214 Storm Sewer Annual Charge - Vacant Land - Per Acre Charge 3,121 3,121 3,121 3,121 3,121 3,121 3,121 3,121 3,121 3,121 3,121 Total Revenue by Fee Type 570,385 588,446 606,975 626,169 649,416 682,980 712,718 733,929 750,961 764,960 767,533 Projected Table 24 Storm Water Fund Change in Net Capital Assets Prior Year Actual Prior Year Actual Model Year 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 Balance of Capital Assets and Depreciation Capital assets 16,123,229 18,525,385 18,725,385 19,410,790 19,493,190 20,321,753 20,376,389 20,432,665 20,490,628 20,550,331 20,611,825 20,675,163 20,675,163 Less allowance for depreciation 2,414,262 3,205,819 4,002,376 4,816,068 5,631,820 6,468,286 7,306,119 8,145,358 8,986,046 9,828,226 10,671,944 11,517,246 12,362,547 Net capital assets 13,708,967 15,319,566 14,723,009 14,594,722 13,861,370 13,853,466 13,070,271 12,287,307 11,504,583 10,722,105 9,939,880 9,157,917 8,312,616 Acquisition of capital assets 1,994,355 2,402,156 200,000 685,405 82,400 828,563 54,636 56,275 57,964 59,703 61,494 63,339 - Less allowance for depreciation on current assets 691,840 791,557 791,557 796,557 813,692 815,752 836,466 837,832 839,239 840,688 842,181 843,718 845,301 Less allowance for depreciation on new assets 5,000 17,135 2,060 20,714 1,366 1,407 1,449 1,493 1,537 1,583 - Total increase in allowance for depreciation 691,840 791,557 796,557 813,692 815,752 836,466 837,832 839,239 840,688 842,181 843,718 845,301 845,301 Change in net capital assets 1,302,515 1,610,599 (596,557) (128,287) (733,352) (7,903) (783,196) (782,964) (782,724) (782,478) (782,224) (781,963) (845,301) * Number of years new assets depreciated over: 40 Projected