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Fiscal Year 2018
<br /> Assumptions 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
<br />Water Rates
<br /> Flat Fee N/A N/A 3.35$ 6.70$ 10.05$ 13.40$ 16.75$ 20.10$ 23.45$ 24.39$ 25.36$ 26.38$ 27.43$ 28.53$ 29.67$ 30.86$ 32.09$
<br /> Usage (Tier one)3.10$ 3.10$ 3.07$ 3.04$ 3.01$ 2.98$ 2.95$ 2.92$ 3.04 3.16 3.28 3.42 3.55 3.69 3.84 4.00
<br />Sewer Rates
<br /> Flat Fee N/A 3.20$ 6.40$ 9.60$ 12.80$ 16.00$ 19.20$ 22.40$ 25.60$ 26.50 27.42 28.38 29.38 30.40 31.47 32.57
<br /> Usage 4.62$ 4.69$ 4.64$ 4.60$ 4.55$ 4.55$ 4.55$ 4.55$ 4.80 5.07 5.34 5.64 5.95 6.27 6.62
<br />Expenses
<br />Met Council - $ Actual 593,381 576,237 643,390 708,567 5.50%5.50%5.50%5.50%5.50%5.50%5.50%5.50%5.50%5.50%5.50%5.50%5.50%
<br />Met Council - % Increase -4.57%-2.89%11.65%10.13%NA NA NA NA NA NA NA NA NA NA NA NA NA
<br />City Water Expenses - % Increase 4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%4.00%
<br />City Sewer Expenses - % Increase 3.50%3.50%3.50%3.50%3.50%3.50%3.50%3.50%3.50%3.50%3.50%3.50%3.50%
<br />Actual Actual Est. Actual Budget Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected
<br /> REVENUES 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
<br /> Water Operations 897,232$ 917,927 989,791 1,044,818 1,101,016 1,157,839 1,214,736 1,271,707 1,328,814 1,381,967 1,437,246 1,494,735 1,554,525 1,616,706 1,681,374 1,748,629 1,818,574
<br /> Sewer Operations 947,618 1,005,329 1,098,338 1,175,081 1,225,739 1,276,503 1,327,371 1,388,557 1,449,742 1,526,225 1,600,071 1,677,491 1,758,657 1,843,750 1,932,960 2,026,487 2,124,539
<br />Total Operating Revenues 1,844,850$ 1,923,256$ 2,088,129$ 2,219,899$ 2,326,755$ 2,434,342$ 2,542,107$ 2,660,264$ 2,778,557$ 2,908,191$ 3,037,317$ 3,172,226$ 3,313,182$ 3,460,456$ 3,614,334$ 3,775,116$ 3,943,113$
<br /> EXPENDITURES
<br /> Water Operations 618,069$ 787,497 876,584 938,874 976,429 1,015,486 1,056,106 1,098,350 1,142,284 1,187,975 1,235,494 1,284,914 1,336,310 1,389,763 1,445,353 1,503,168 1,563,294
<br /> Sewer Operations 963,621 930,659 1,027,148 1,118,854 1,172,185 1,228,162 1,286,921 1,348,604 1,413,361 1,481,350 1,552,737 1,627,698 1,706,416 1,789,085 1,875,910 1,967,105 2,062,896
<br />Total Operating Expenditures 1,581,690 1,718,156 1,903,732 2,057,728 2,148,614 2,243,649 2,343,027 2,446,954 2,555,645 2,669,325 2,788,231 2,912,612 3,042,726 3,178,848 3,321,263 3,470,272 3,626,190
<br /> Combined Operating Income 263,160$ 205,100$ 184,397$ 162,171$ 178,141$ 190,693$ 199,081$ 213,310$ 222,912$ 238,866$ 249,085$ 259,615$ 270,455$ 281,608$ 293,071$ 304,844$ 316,923$
<br />Other (Income)/Expense
<br /> Water (1,938)(11,143)10,100 10,100 10,100 10,150 10,200 10,250 10,300 10,350 10,400 10,450 10,500 10,550 10,600 10,650 10,700
<br /> Sewer (21,139) (14,045) (550) (550) (500) (450) (400) (350) (300) (250) (200) (150) (100) (50) - 50 100
<br />Interest income (499) (23,907) (11,500) (13,605) (18,420) (28,170) (33,041) (37,055) (40,344) (44,777) (46,505) (48,497) (50,762) (53,306) (56,139) (59,267) (59,564)
<br /> Depreciation Expense 308,955 332,399 352,399 371,766 395,766 430,766 465,766 500,766 535,766 570,766 605,766 640,766 675,766 710,766 745,766 780,766 815,766
<br />Total Other (Income)/Expense 285,380 283,304 350,449 367,711 386,947 412,296 442,525 473,611 505,423 536,089 569,462 602,569 635,405 667,960 700,227 732,199 767,003
<br />Net Income/(Loss)(22,220)$ (78,204)$ (166,052)$ (205,540)$ (208,806)$ (221,603)$ (243,445)$ (260,301)$ (282,511)$ (297,223)$ (320,376)$ (342,955)$ (364,949)$ (386,352)$ (407,156)$ (427,356)$ (450,080)$
<br />Other Sources and Uses:
<br />Transfers- in - 1,632,862 - - - - - - - - - - - - - - -
<br />Transfers Out CIP (15,000) (225,000) - - - - - - - - - - - - - - -
<br />Transfers Out - W/S Infrastructure - - - - - - - (75,000) (115,000) (140,000) (175,000) (175,000) (175,000) (175,000) (175,000) (175,000) (175,000)
<br />Army Reimbursements - 130,932 - - - - - - - - - - - - - - -
<br />Debt Service Payments (140,450) (138,150) (145,750) (148,200) (145,600) (147,950) (150,200) (147,400) (149,550) (156,550) - - - - - - -
<br />Net Change in Assets / Liabilities (46,105) 49,451 - - - - - - - - - - - - - - -
<br />Add back Depreciation Expense 308,955 332,399 352,399 371,766 395,766 430,766 465,766 500,766 535,766 570,766 605,766 640,766 675,766 710,766 745,766 780,766 815,766
<br />Total Other Sources and Uses 107,400 1,782,494 206,649 223,566 250,166 282,816 315,566 278,366 271,216 274,216 430,766 465,766 500,766 535,766 570,766 605,766 640,766
<br />Net increase (decrease) in cash 85,180$ 1,704,290$ 40,597$ 18,027$ 41,361$ 61,214$ 72,122$ 18,066$ (11,294)$ (23,006)$ 110,390$ 122,812$ 135,817$ 149,414$ 163,610$ 178,411$ 190,686$
<br />BEGINNING CASH BALANCE 40,837 126,017 1,830,307 1,870,904 1,888,931 1,930,292 1,991,506 2,063,628 2,081,693 2,070,399 2,047,393 2,157,783 2,280,595 2,416,412 2,565,826 2,729,436 2,907,847
<br />ENDING CASH BALANCE 126,017$ 1,830,307$ 1,870,904$ 1,888,931$ 1,930,292$ 1,991,506$ 2,063,628$ 2,081,693$ 2,070,399$ 2,047,393$ 2,157,783$ 2,280,595$ 2,416,412$ 2,565,826$ 2,729,436$ 2,907,847$ 3,098,533$
<br />MINIMUM CASH BALANCE 755,400 779,235 841,793 888,166 921,185 959,397 997,569 1,034,155 1,075,736 1,125,947 1,012,439 1,057,409 1,104,394 1,153,485 1,204,778 1,156,757 1,208,730
<br />EXHIBIT B
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