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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$ 3.07$ 3.04$ 3.01$ 2.98$ 2.95$ 3.07 3.19 3.32 3.45 3.59 3.73 3.88 4.04
<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$ 4.69$ 4.64$ 4.60$ 4.60$ 4.60$ 4.60$ 4.85 5.12 5.40 5.69 6.01 6.34 6.69
<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 Actual Est. Actual Budget Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected Projected REVENUES 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031
<br /> Water Operations 897,232$ 917,927 945,788 985,721 1,058,928 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 1,098,938 1,131,590 1,213,153 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$ 2,044,726$ 2,117,311$ 2,272,081$ 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$ 787,497 841,508 974,111 1,015,763 1,056,394 1,098,649 1,142,595 1,188,299 1,235,831 1,285,264 1,336,675 1,390,142 1,445,747 1,503,577 1,563,720 1,626,269
<br /> Sewer Operations 963,621 930,659 1,029,372 1,115,154 1,160,310 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 1,870,880 2,089,265 2,176,073 2,284,556 2,385,570 2,491,199 2,601,660 2,717,181 2,838,002 2,964,373 3,096,558 3,234,833 3,379,487 3,530,825 3,689,165
<br /> Combined Operating Income 263,160$ 205,100$ 173,846$ 28,046$ 96,008$ 149,786$ 156,537$ 169,065$ 176,897$ 191,010$ 199,315$ 207,854$ 216,624$ 225,623$ 234,847$ 244,291$ 253,948$
<br />Other (Income)/Expense
<br /> Water (1,938)(11,143)(40,051)(18,500)(26,795)(26,745)(26,695)(26,645)(26,595)(26,545)(26,495)(26,445)(26,395)(26,345)(26,295)(26,245)(26,195)
<br /> Sewer (21,139) (14,045) (36,189) (22,650) (34,550) (34,500) (34,450) (34,400) (34,350) (34,300) (34,250) (34,200) (34,150) (34,100) (34,050) (34,000) (33,950)
<br />Interest income (499) (23,907) (11,500) (13,605) (13,605) (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 308,955 332,399 352,399 371,766 391,766 426,766 461,766 496,766 531,766 566,766 601,766 636,766 671,766 706,766 741,766 776,766 811,766
<br />Total Other (Income)/Expense 285,380 283,304 264,659 317,011 316,816 337,351 367,580 398,666 430,477 461,144 494,516 527,624 560,459 593,015 625,282 657,254 692,057
<br />Net Income/(Loss) (22,220)$ (78,204)$ (90,813)$ (288,965)$ (220,808)$ (187,565)$ (211,043)$ (229,601)$ (253,581)$ (270,133)$ (295,201)$ (319,770)$ (343,835)$ (367,392)$ (390,435)$ (412,963)$ (438,110)$
<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 308,955 332,399 352,399 371,766 391,766 426,766 461,766 496,766 531,766 566,766 601,766 636,766 671,766 706,766 741,766 776,766 811,766
<br />Total Other Sources and Uses 107,400 1,782,494 206,649 223,566 246,166 278,816 311,566 274,366 267,216 270,216 426,766 461,766 496,766 531,766 566,766 601,766 636,766
<br />Net increase (decrease) in cash 85,180$ 1,704,290$ 115,836$ (65,398)$ 25,358$ 91,251$ 100,523$ 44,765$ 13,635$ 83$ 131,565$ 141,996$ 152,931$ 164,374$ 176,331$ 188,803$ 198,656$
<br />BEGINNING CASH BALANCE 40,837 126,017 1,830,307 1,946,143 1,880,745 1,906,103 1,997,355 2,097,878 2,142,643 2,156,278 2,156,361 2,287,926 2,429,922 2,582,853 2,747,227 2,923,558 3,112,361
<br />ENDING CASH BALANCE 126,017$ 1,830,307$ 1,946,143$ 1,880,745$ 1,906,103$ 1,997,355$ 2,097,878$ 2,142,643$ 2,156,278$ 2,156,361$ 2,287,926$ 2,429,922$ 2,582,853$ 2,747,227$ 2,923,558$ 3,112,361$ 3,311,018$
<br />MINIMUM CASH BALANCE 755,400 779,235 827,325 853,970 902,960 959,397 997,569 1,034,155 1,075,736 1,125,947 1,012,439 1,057,409 1,104,394 1,153,485 1,204,778 1,176,942 1,229,722
<br />EXHIBIT B
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