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18
City of Pleasanton
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CITY CLERK
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AGENDA PACKETS
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2023
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071823 SPECIAL
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18
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7/13/2023 4:31:44 PM
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CITY CLERK
CITY CLERK - TYPE
AGENDA REPORT
DOCUMENT DATE
7/18/2023
DESTRUCT DATE
15Y
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water utility's costs and not the expected impact to each customer class. Revenue adjustments in subsequent years <br /> are applied across all charges, classes, and tiers proportional to the base year rates developed for FY 2024. The <br /> revenue adjustments are effective on January 1 of every year. <br /> Table 2-19: Proposed Revenue Adjustments <br /> Revenue Adjustments (All Revenues) FY 2024 FY 2025 FY 2026 <br /> Effective Month January January January <br /> Percent Adjustment 30% 20% 12% <br /> Table 2-20 shows the projected financial plan with the proposed revenue adjustments in Table 2-19 applied to the <br /> water rate revenues. Revenues from interest income(Lines 8 and 9) are greater than those shown in the status quo <br /> scenario (Table 2-18, Lines 8 and 9) due to additional cash from the proposed adjustments. O&M expenses(Line <br /> 18),debt service (Lines 21 and 22),and cash funded CIP (Lines 23 and 24) are the same as the status quo scenario. <br /> Net cash flow(Line 27)is positive in FY 2025 and beyond which means that the city will be funding its reserves in <br /> those years. Net cash flow is negative in FY 2024, which means that the City will be drawing down its water fund <br /> to pay for capital costs. The combined ending balance(Line 46) will not meet the reserve target(Line 47) in FY <br /> 2024 and FY 2025. The City recovers its reserves and meets the reserve target by FY 2026. Calculated debt service <br /> coverage(Line 31) exceeds target debt service coverage(Line 32) in all years through FY 2026. <br /> 28 CITY OF PLEASANTON <br />
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