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HomeMy WebLinkAbout02/23/2023 - Meeting Materials ■ ■ ■ ■ Public SLC PUBLIC UTILITIES Financial Review : Financial Dashboard(January 31, 2023) February 23, 2023 '., Public utilities Financial Dashboard As of January 31, 2023 Water Fund FY 23 Expense Detail ■ Personal Services 250,000,000 14.78% ■ O&M 2.19% 200,000,000 ■ Charges & Services 150,000,000 Debt Services ■ Capital 100,000,000 25.66% Expenditures 50,000,000 53.35% 0 4.02% Revenues Expenses January 31, 2023 Change from FY22 Percent of Budget ■ FY 21-22 ■ FY 22-23 ■ FY 23 Bud YTD FY 23 Bud Operating Revenues $61,415,849 $9,859,638 58.82% Operating Expenses 43,216,062 2,553,051 50.81% Amount Percent Time Capital Expenditures 54,096,005 (4,485,299) 47.69% Remaining Remaining Remaining Total Expenses 97,312,067 (1,932,248) 49.03% 2020 Bond Funds $32,833,110 42.49% 17.60% January 31, 2023 Change from FY22 Percent Change 2022 Bond Funds $68,005,131 99.80% 80.40% Available Cash $123,527,099 $45,603,314 58.52% (Included In cash) Accounts Receivable 2,731,679 83,931 3.17% '., Public utilities Financial Dashboard As of January 31, 2023 Sewer Fund FY23 Expense Detail 2.40% 0.45% 2.02% 500,000,000 \ I / 5.45% ■ Personal Services 450,000,000 I ■ O&M 400,000,000 ■ Charges & Services 350,000,000 ■ Debt Service 300,000,000 ■ Capital Expenditures 250,000,000 200,000,000 150,000,000 100,000,000 50,000,000 89.69 0 ■ • Revenues Expenses January 31, 2023 Change from FY22 Percent of Budget ■ FY 21-22 0FY22-23 FY23 Bud YTD r FY 23 Bud Operating Revenues $43,378,139 $9,178,965 63.70% Operating Expenses 13,048,279 1,350,682 47.07% Amount Percent Time Capital Expenditures 240,647,607 607,492 62.37% Remaining Remaining Remaining Total Expenses 253,695,886 1,958,174 61.35% 2020 Bond Funds $0 0.00% 17.60% January 31, 2023 Change from FY22 Percent Change 2022 Bond Funds $238,493,019 85.04% 80.40% Available Cash $258,806,944 $213,547,542 471.83% (Included in cash) Accounts Receivable 3,293,261 132,119 4.18% '., Public utilities Financial Dashboard As of January 31, 2023 Stormwater FY23 Expense Detail 30,000,000 5.54%� ` 0.44% 21.90% / 25,000,000 20,000,000 Personal Services AN ■ O&M 15,000,000 ■ Charges & Services ■ Debt Services 10,000,000 !L 2.44% ■ Capital Expenditures 5,000,000 69.68% 0 January 31, 2023 Change from FY22 Percent of Budget Revenues Expenses Operating Revenues $8,399,933 $1,326,174 67.20% ■ FY21-22 ■ FY22-23 ■ FY23 Bud YTD -A FY 23 Bud Operating Expenses 4,754,692 1,018,075 47.05% Capital Expenditures 8,122,633 2,871,374 61.08% Amount Percent Time Total Expenses 12,877,325 3,889,449 55.02% Remaining Remaining Remaining January 31, 2023 Change from FY22 Percent Change 2020 Bond Funds $7,118,470 48.92% 17.60% Available Cash $23,310,413 $2,169,893 10.26% (Included in Cash) Accounts Receivable 651,637 5,066 0.78% Public �= -X Utilities Financial Dashboard t ;T As of January 31, 2023 Street Lighting FY23 Expense Detail 7,000,000 4.65% 5.70% 6.76%�0.00% m Personal Services 6,000,000 ■ O&M ■ Charges & Services 5,000,000 - Debt Services 4,000,000 ■ Capital Expenditures 3,000,000 2,000,000 82.90% 1,000,000 lot 0 January 31, 2023 Change from FY22 Percent of Budget Revenues Expenses Operating Revenues $2,411,938 ($136,247) 56.39% ■ FY21-22 ■ FY22-23 ■ FY23 Bud YTD FY 23 Bud Operating Expenses 2,179,329 134,322 65.45% Capital Expenditures 138,499 122,085 6.14% Total Expenses 2,317,828 256,407 41.49% January 31, 2023 Change from FY22 Percent Change Available Cash $5,678,311 ($198,196) -3.37% Accounts Receivable 168,039 7,500 4.67% '., Public utilities Financial Dashboard As of January 31, 2023 Total Public Utilities January 31, 2023 Change from FY22 Percent of Budget Operating Revenues $115,605,859 $20,228,530 61.07% Operating Expenses $63,198,362 $5,056,130 50.08% Capital Expenditures $303,004,744 ($884,348) 58.86% Total Expenses $366,203,106 $4,171,782 57.13% January 31, 2023 Change from FY22 Percent Change Available Cash $411,322,767 $261,122,553 173.85% Accounts Receivable $6,844,616 $228,616 3.46% Delinquent Billings 1.73% Amount Percent Remaining Time Remaining 2020 Bond Funds $39,951,580 20.16% 17.60% 2022 Bond Funds $306,498,150 87.93% 80.40% (Included in Cash) '., Public Utilities Updates Budget items Budget subcommittee meetings — February 8 and 22 FY2024 — Operational requests including additional personnel will have final review; capital will be refined in the next two weeks. Evaluating FY2024 bond issue impacts • Funding opportunities/WIFIA updates ,W Salt Lake City Water : v - M Supply and Spring Runoff ReportY. '!�►� L `, Public Utilities Advisory Committee �' `' • Ilk February 23 2023 �► ►1:' Salt Lake Cit 's Water y . et OFy r Water,Sewer,Storm,Strw Lighting .. �~ ENI(YLIDON CANt ON 4 T Service Area t _ " i Water Only I r Nowday waW �► 111"277 2893 YwW Is transferred through d"area. • We provide drinking water to more than 360,000 SWTH ^ + people VA T,A;�. �E �r Jordan ValleyWtla. . •. 80158SJ�00 • Our water service area includes all of Salt Lake City W"°`"tranat"`°d-TAYLOhthlaar°° r and large portions of Mill Creek, Holladay, and Ar�oRSvruE g pAR~5 stuRRAr Cottonwood Heights. Water Only • Stormwater and sanitary sewer service are within Salt "` Lake City s corporate boundary. 1E5T • Our water service area includes small portions of :'l1` soulNSoataui SANDr V South Salt Lake, Murray, and Midvale A • ***Service Area Map: https://www.slc.gov/utilities/ RPARTON �' f • , ,r j ORAPlN 'L` "NA lIUF Determining our U.S Or Utah onimr February 15 2022 Utah Annual Water Supply outlook• What we will start the water year with: v ero°ehur-r a.L.d° • Above average snowpack. • Drought persists but has improved over last year. • Soil moisture appears to have improved U.S.Drought Monitor February 14,2 023 It Utah ar...a m.nar.sa 1mA warm.ear over last year. • High probability of average or above .. average watershed yields this year: • 123% to 193% of average for our local Wasatch Mountain watersheds. �"� '°'�" a-. Ooet...-.won �o,e�,.m. • We have about a month prior to the J/ 4 water year (April 1st)  tG) v droughtmo-r. Ledu 3 BigCottonwood a Big Cottonwood Creek provides about 20-25% of our water supplies annually. Creek : a In 2022,the annual yield was about 20,700 acre-feet,or 61% of the average. The annual water yield forecast for 2023 is about 49,000 acre-feet, or 144%of 2022 vs . 2023 average. Water Supply Forecast Water Supply Foremost Big Cononwood Ck-Salt Lake City.Nr(BCTUI) --Maz 2011 Big Cottonwood Ck-Saft lake City.Nr(BRU1) --Max 2011 Periods AprJul,Observed V.I—20.7 kaf(61%A—age,71%Medlan) --Min 1934 Perbd:AprJ,t Official S0%FaI—t(20234241):49 kaf(144%Average•169%Madlan) --Min 1934 ESP,s Unregulated and No Precipitation Forecast Includes —q'/KMa ESP.,Unregulatetl and No Reopitauon Lorecast Inclutletl �quala9a i0 _ --Macllan 79 __ --MaAan —Observed Accumulation ------------------------------------- ------------------ ------------�---- Oburved Accumulation 60 Observed Total 60 --Observed Total Normal Accumulation —ESP Normal Accumulation SO —ESP —ESP(moo Ob.) • —ESP(wo Obs) q —Official 10 • —Official 10 Official 30 O p —Official 30 • —Official SO g —= s - Official 70 • ••••:• —Official SO --� —Official 70 -------- -- --- --- ------^s----------_ —Official 90 • E: 20 0 10 0�o0, —MI Dec S21 ten 4R rap2022 kter2022 yar=••,Iday2072 A.12022 ACID22 Aug= SPNU •:• W.—V«r Plot Options Plot Tools Plat NNp Daft 092422 w2= 0.2022 � tm2o3 w2B23 ApHin•••M4�3 2= M2023 �� 6m22 2023 OAF Water Y_ Plat Optlotu Plot Tools Plat rlalp Daft O ESP $eIM Latest 081da1 Click aM drag to zoom. E95HffiD ® O QPF SNect(Nan ESP Hover For values. Gria Q31a 2022 2023 Westwide SNOTEL Current Snow Water Eir Jan 31, 20 3 m o�� Snow Water M Equivalent urrent Snow Water m © M3 quivalent(SWE) asin-wide Percent If 1991.2020 Median unavailable' <50% o o Snow water equivalent (SWE) determines 50-69"° 4� �' my �- how much water is in the snow. This is 70-89% gn 90-109% important for water supply and flood control 110-129% I forecasting. 130-149% ,' E - - '=150% C3 � � • As of January 315t , the SWE is well above 'r the median in our watersheds. et tune olpoanng t 0 1 a meeaureerent "J rt not legBsenraf/.T - O• //f of this thne W year o Provfslons/dots subject to revision USDA A n i orc Seasonal Temperature Outlook Val&Mar.Apr.May2023 Precipitation and J ssua0 FM uary 18.2023 :' �` Bclow Egoal Chances Temperature Outlook • Seasonal precipitation and temperature are �� I�Ia.�M�N Atlar. ca.aen factors in both water supply and water {=q _� demand. • These are also factors in the timing and volume of runoff for flood control purposes. • The three-month outlook for March, April, Seasonal Precipitation Outlook O Valid:Mar-Apr-May 2023 and May projects equal chances for above or :Fabruary,6,2023 below normal precipitation and Chdnal Ces Equal temperature. • Typically, lower temperatures and/or higher precipitation will reduce environmental and system water demand in the early spring. • Fast warming can increase high-runoff and moaIMl°..mI ti cn:nces flooding potential. '{� °� �} Reservoirs • Reservoirs store water to help us through drought years and to meet annual system water demands. • Deer Creek Reservoir is critical to Salt Lake City, providing between 30-35% of our water supplies annually and providing reliable water during droughts. • Salt Lake City has access to Deer Creek water through ' the Metropolitan Water District of Salt Lake and Sandy participation in the federal Provo River Project and the Central Utah Project. • Little Dell and Mountain Dell Reservoirs in Parleys Canyon are also important for water supplies and - - ' flood control. "= ; ; " Wate r Daily Water Use Calendar Year 2022 Conservation Salt Lake City Department of Public Utilities Service Area 9 A E —u..2o2z—Av.r.a.zota,zozo,zort —u..z000 210 200 • Last year, the communities in our water 190 1e0 service area conserved almost 3 billion 170 gallons compared to the three-year 160 150 average. 140 130 • Water conservation is necessary for our 120 A overall resiliency during a drought, 710 A reducing the risk of water disruptions. 100 E0 • Water conservation is necessary to help 70 maintain and increase flows to Great Salt 60 La ke. so ao 30 • We will need multiple years like this 20 winter to exit drought status. 10 0 • Our communities will be asked to Jan Feb Mar Apr May June July Aug Sept Oct Nov Dec continue to conserve water. L !!' ' .f '.. 4 'y�y `, `�'':�� � • We have been fielding I � g concerns about potential flooding during this year's - spring runoff. _ Salt Lake City has numerous - strategies in place to reduce the risk of flooding: • Infrastructure ' improvements since the l= _ 1983 flooding; Close monitoring of conditions; • Coordination with Salt Lake County; and • System cleaning and Spring Runoff and Flood maintenance. Control