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Home My WebLink About04/28/2022 - Meeting Materials ■ ■ ■ ■ Public SLC PUBLIC UTILITIES Financial Review : Financial Dashboard(March 31, 2022) April 28, 2022 Public �= -X Utilities Financial Dashboard t ;T As of March 31, 2022 Water Fund FY 22 Expense Detail ■ Personal Services 200,000,000 15.24% 180,000,000 ■ O&M 160,000,000 —2.32% ■ Charges &Services 140,000,000 120,000,000 Debt Services 100,000,000 ■ Capital 80,000,000 �25.63% Expenditures 60,000,000 40,000,000 20,000,000 54.32% 0 ` — 2.49% Revenues Expenses March 31, 2022 Change from FY21 Percent of Budget ■ FY 20-21 ■ FY 21-22 ■ FY 22 Bud YTD FY 22 Bud Operating Revenues $58,435,713 ($7,076,560) 64.21% Operating Expenses 51,339,590 2,999,490 63.66% Capital Expenditures 64,566,398 (4,577,246) 75.19% Amount Percent Time Total Expenses 115,905,988 (1,577,756) 69.61% Remaining Remaining Remaining March 31, 2022 Change from FY21 Percent Change 2020 Bond Funds $55,944,537 72.40% 45.60% Available Cash $64,660,615 ($36,616,453) -36.15% ((Included in cash) Accounts Receivable 2,155,759 446,941 26.15% '., Public utilities Financial Dashboard As of March 31, 2022 Sewer Fund FY22 Expense Detail 2.83% 0.57% 1.88% 400,000,000 3.36% ■ Personal Services 350,000,000 ■ O&M 300,000,000 - ■ Charges & Services 250,000,000 Debt Service ■200,000,000 Capital Expenditures 150,000,000 100,000,000 50,000,000 ' 91.36% 0 Revenues Expenses March 31, 2022 Change from FY21 Percent of Budget Operating Revenues $42,916,114 $4,531,210 73.22% ■ FY20-21 ■ FY21-22 ■ FY22 Bud YTD FY 22 Bud Operating Expenses 14,772,311 1,339,232 59.61% Capital Expenditures 255,793,347 78,279,053 76.27% Amount Percent Time Total Expenses 270,565,658 79,618,285 75.12% Remaining Remaining Remaining March 31, 2022 Change from FY21 Percent Change 2020 Bond Funds $28,722,641 27.00% 45.60% Available Cash $45,411,554 ($37,391,763) -45.16% (Included in cash) Accounts Receivable 1,768,600 (261,957) -12.90% '., Public utilities Financial Dashboard As of March 31, 2022 Stormwater FY22 Expense Detail 30,000,000 18.58% 25,000,000 20,000,000 / �0.78% ■ Personal Services ■ O&M 15,000,000 ■ Charges & Services 57.000 15.68% Debt Services 10,000,000 ■ Capital Expenditures 5,000,000 7.96% 0 Revenues Expenses March 31, 2022 Change from FY21 Percent of Budget Operating Revenues $8,987,857 $886,814 82.47% ■ FY20-21 ■ FY21-22 ■ FY22 Bud YTD -A FY 22 Bud Operating Expenses 5,130,075 702,886 56.11% Capital Expenditures 8,345,228 2,479,831 63.03% Amount Percent Time Total Expenses 13,475,303 3,182,717 60.20% Remaining Remaining Remaining March 31, 2022 Change from FY21 Percent Change 2020 Bond Funds $9,966,104 68.49% 45.60% Available Cash $20,889,778 $1,047,747 5.28% (Included in Cash) Accounts Receivable 440,244 (280,456) -38.91% '., Public utilities Financial Dashboard As of March 31, 2022 Street Lighting FY21 Expense Detail 7,000,000 14.55% 6.09% 0.02% m Personal Services 6,000,000 4.62% ■ O&M ■ Charges & Services 5,000,000 Debt Services 4,000,000 ■ Capital Expenditures 3,000,000 2,000,000 74.72% 1,000,000 0 _ March 31, 2022 Change from FY21 Percent of Budget Revenues Expenses Operating Revenues $3,235,443 $202,572 77.72% ■ FY20-21 ■ FY21-22 ■ FY22 Bud YTD FY 22 Bud Operating Expenses 2,539,058 247,711 77.57% Capital Expenditures 457,156 6,287 20.41% Total Expenses 2,996,214 253,998 54.35% March 31, 2022 Change from FY21 Percent Change Available Cash $5,572,884 ($540,865) -8.85% Accounts Receivable 106,916 (23,420) -17.97% '., Public utilities Financial Dashboard As of March 31, 2022 Total Public Utilities March 31, 2022 Change from FY21 Percent of Budget Operating Revenues $113,575,127 ($1,455,964) 68.97% Operating Expenses $73,781,034 $5,289,319 62.61% Capital Expenditures $329,162,129 $76,187,925 75.37% Total Expenses $402,943,163 $81,477,244 72.66% March 31, 2022 Change from FY21 Percent Change Available Cash $136,534,831 ($73,501,334) -34.99% Accounts Receivable $4,471,519 ($118,892) -2.59% Delinquent Billings 3.33% Amount Percent Remaining Time Remaining 2020 Bond Funds $94,633,282 47.75% 45.60% (Included in Cash) '., Public Utilities Updates Series 2022 bond issue Includes sewer and water bonds Closing planned for June 2022 Next bond issue anticipated fall 2023 WIFIA Quarterly report due April 30 General Rate increase engagement 1908: along 900 N t �cPU Utill 101 -� �� • • • `"� "::=�;�. . {fir:,: all DW.l" C 2002 to h$1.0.HM..Y SoaslY AM Igoe.rwawO . . Municipal Wastewater Planning Program (MWPP) SALT LAKE PUAC Aprili ,< ;K Public -- - - - - - IT�� utiiiMel; MWPP Annual Report ................. .... ........ ........... .......................................................... Annually Submittal by April 15, live document awaiting: Requires PUAC/Council/Mayor concurrence/approval POTWs that own and operate a Sanitary Sewer Water and those that have received financial assistance from the Quality Board Report/Survey Includes Collections System (Treatment not included this year) Is the system able to convey the flow and load - Financial Position Evaluation Is SLC able to finance capital and operations — YES Q: .;K I C utiiiMel; Water Reclamation Facility . .. .. . . .. . . . . . . . . . . . . . ..... . . . . . . . . . . . . . . .... . . . ..... . . . . . .... .. .. .. .. .... .. . . ....... .. .. .. . . . ... . Not included this year as in the past EPA Revitalizing efforts to administer the Clean Water Needs Survey (CWNS). The MWPP and the CWNS are duplicative this year the MWPP will only include collection systems information and some financial information i Pluli Ic -% it t ie Financial Evaluation . .. .. . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .. .. .. .. .. .. . . . . . . . . . . . .. .. .. .. . . . . .. . Part I : General Questions Sewer Revenues in a dedicated account? - YP, Collecting >— 90% of anticipated sewer revenue? - Yes Debt service funds requirement being met? - YPs Average annual average user charge for 2021 ? $989 Water/Sewer customer assistance program? - Yes Part II : Operating Revenues and Reserves Property taxes or other assessments applied? - Revenues sufficient for operations & maintenance and repair & replacement cost? - No • hewer revenues are surricient to cover u&ivi costs. SLCDPU nas aeveiopea a strategy mat utilizes low interest federal loans and bonds to pay for replacement costs (e.g. capital improvement projects). Projected sewer revenues sufficient to cover OMR for next 5-years — 00 costs - Yes Sufficient staff? - ''e! Repair and replacement sinking fund? - No The MWPP i tpui L iz) iui I I iaucu 111 -)UUI I a i nanner to capture data from a large variety of different sized utilities. With a utility as large as SLCDPU the developed strategy to pay for replacement costs is to utilize low interest federal loans and bonds. ,< ;K Public -- - - - - - IT�� utiiiMel; Financial Evaluation ................. .... ........ ........... .......................................................... Part II : Capital Improvements Revenues and Reserves Sewer revenues sufficient to cover all costs of current capital improvement projects? — Capital Improvements Reserve Fund been established? — SLCDPU has developed a strategy that utilizes low interest federal loans and bonds to pay capital improvement projects. Are projected Capital Improvements Reserve Funds sufficient for the next five, 10, 20 years, ? - Nc j PU li I c -% itilific'e Financial Position Evaluation . .. .. . . .. . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . .. . . . . . .. . 0 . . . . . .... .. .. .. .. .. . . . . . . . ...... .. .. .. . . . . .. . Part IV: Fiscal Sustainability Review Rate Study within the last five years? — Yes • Will update in 2022/23 Impact fees? - Yes ($545 per residential single dwelling, $27 per fixture commercial) Impact Fee Study within the last five years? - tes Plan of Operations? - Yes Capital Facility Plan update within the last five years - Yes Asset Management system for your sewer systems? — Yes Do you know the total replacement cost of your sewer system capital assets? - Do you fund sewer system capital improvements annually with sewer revenues at 2% or more of the total replacement cost? - Yes Sewer/treatment system annual asset renewal cost as a percentage of total replacement cost? U � Public -- - - - - - c�T� Utilities Financial Position Evaluation ................. .... ........ ........... .......................................................... Part IV: Projected Capital Investment Costs Cost of projected capital improvements? Collections only: 2022 $35M 2022-2026 $133M 2027-2031 $125M j PUD Ic -% ufil ! fies Sewer Collection System .................................................................................................. Part I : System Description 1916: 800 w 700 N Largest diameter pipe — 78" Average depth — 10' Total length of sewer pipe — 660 miles Number of lift/pump stations — 45 Largest capacity lift/pump station — 9722 gpm Originally constructed 1890, 7s, oldest pipe 129 years old _ 1 Part 11 : Discharges - Bypasses: Rain or Snow (0) ; equipment (0) Sanitary Sewer overflows: Class 1 (0), Class 2 ( ) Part III : New Development New residential sewer connections (31 ) New commercial connections (41 ) Equivalent residential connections (44,561 ) PUD Ic ufil ! fies Sewer Collection System .................................................................................................. Part IV: Operator Certification 28 operators, Grade IV ( ), Grade III (1 )- Grade II ( ), Grade I (2) Part V: Facility Maintenance Preventative Maintenance plan and 0&M Manual Part VI : Sewer System Management Plan (SSMP) Evaluation Developed 2014, internal audit completed 2021 , no changes needed System Evaluation and Capacity Assurance Plan (SECAP) Part VI I: Narrative Evaluation Average 55 years old — systematic assessment and replacement 1 % annually Multiple capacity related projects currently under construction Master Plan completed 2016, updates currently ongoing