HomeMy WebLinkAboutF-1. FY18-19 1st Quarter Budget ReportUB-172
APPROVED
UTILITY BOARD
11/26/2018
UB-173
UB-174
Fiscal Year End
6/30/2018
Quarter Ending
9/30/2018
Percent of Prior
Year
Consumption - CCF: 7,095,830 2,077,144 29%
Cash and Investments before transfers: (1)28,417,029$ 24,345,736$ 86%
Cash and Investments after loans to other funds: (2)24,362,875$ 20,291,582$ 83%
Budget
FY 18-19
Actuals Thru
9/30/2018
Percent of
Budget
Retail Billing Amounts (3)18,812,893$ 5,731,538$ 30%
Other Revenues (4)2,449,343 370,168 15%
Interest Income 225,000 400 0%
21,787,906$ 6,102,106$ 28%
Expenses:
Production 3,092,525 758,052 25%
Purchased Water 5,874,975 616,870 10%
Transmission and Distribution 2,603,254 779,610 30%
Customer Accounting and Sales (5)4,382,664 751,783 17%
Administrative and Engineering 2,079,840 223,818 11%
Franchise Fees 352,480 81,774 23%
Debt Service Requirements (6)4,090,213 2,030,835 50%
22,475,951$ 5,242,743$ 23%
(688,045)$ 859,363$
Capital Investments & Transfers:
Capital Outlays and CIP Projects (7)4,752,200 4,930,656 104%
Transfers Out (8)249,960 - 0%
5,002,160$ 4,930,656$ 99%
(5,690,205)$ (4,071,293)$
0.92 1.46
Notes:
(2) Loans and Advances to other funds at FYE 6/30/17 were $4,054,154.
(3) Retail Billing Budget based on projections of Customer Information System for last 12 months.
(4) Other Revenues include reduction in available Lease Rights.
(5) Includes 60% of Customer Service Fund expenses less offsetting revenue and other miscellaneous costs.
(6) Principal and Interest payment obligations on the 2012A and 2015 Revenue Bonds for Fiscal Year 17-18.
requirement is 1.25 per bond financing agreements.
(1) Includes Cash and investments and Due from other funds. Reserve Policy has minimum target of $19 million.
(8) Interest Income will be transferred to the CIP Fund by policy if there is positive net income at fiscal year end.
Net Increase (Decrease) in Cash/Reserve
Change in Cash From Operations
(7) Capital Outlays and Projects under budget due to ongoing construction of Main Replacements and Reservoir Rehabilitation.
(9) Total Revenues less Production, T&D, Cust Acctg, & A&G divided by Debt Service Payments. Minimum debt coverage
Debt Coverage Ratio (9)
Water Utility Quarterly Budget Report
Quarter Ending September 30, 2018
(UNAUDITED)
Consumption and Cash Reserves
Budget Line Item
Revenues:
Total Revenues
Total Operating Expenses
Total Capital Investments & Transfers
UB-175
Fiscal Year End
6/30/2018
Quarter Ending
9/30/2018
Percent of
Prior Year
Consumption - kWh:252,892,628 79,224,988 31%
Cash, Investments & Cash Reserves: (1)26,841,645$ 28,052,298$
105%
Budget
FY 18-19
Actuals Thru
9/30/2018
Percent of
Budget
Revenues:
Retail Billing Amounts (2)36,676,159$ 11,813,135$ 32%
Resale Revenue (3)1,925,140 582,716 30%
Other Miscellaneous Revenue 315,000 38,606 12%
Interest Income 142,000 829 1%
39,058,299$ 12,435,286$ 32%
Expenses:
Purchased Power (3)15,570,666 4,306,590 28%
Transmission/Dispatching (3)4,734,798 793,625 17%
Operations and Maintenance 3,825,109 1,001,273 26%
Administrative and General (4)5,397,060 1,082,819 20%
Franchise and In-Lieu-Tax 3,536,430 778,159 22%
Debt Service Requirements (5)945,644 795,450 84%
34,009,707$ 8,757,917$ 26%
5,048,592$ 3,677,369$ -27%
Capital Investments & Transfers:
Capital Outlays and Improvement Projects 4,233,213 2,466,716 58%
Transfers Out 225,565 - 0%
4,458,777$ 2,466,715$ 55%
589,815$ 1,210,654$
10.08 6.60
Notes:
(1) Includes Cash and investments and Cash held for Rate Stabilization. Reserve Policy has a minimum target of $12.6 million.
(2) Retail Billing Budget based on projections of Customer Information System for last 12 months.
(5) Principal and Interest payment obligations on the 2012B Revenue Bonds for Fiscal Year 17-18.
(6) Total Revenue less Cost for Purch'd Pwr, T&D, O&M, and A&G, divided by debt service. Minimum debt coverage requirement
is 1.10 per bond financing agreements.
(4) Includes 40% of Customer Service Fund expenses less offsetting revenue and other miscellaneous costs.
Total Operating Expenses
Total Capital Investments & Transfers
Net Increase (Decrease) in Cash/Reserve
Debt Coverage Ratio (6)
(3) Source for Resale Revenues, Purchased Power, and Transmission/Dispatching: Power Resources Division.
Change in Cash/Reserves From Operations
Total Operating Revenues
Electric Utility Quarterly Budget Report
Quarter Ending September 30, 2018
(UNAUDITED)
Consumption and Cash Reserves
Budget Line Item
UB-176