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Table 2-18: Status Quo Financial Plan
<br /> Line Financial Plan FY 2024 FY 2025 FY 2026
<br /> 1 Revenues
<br /> 2 Rate Revenues
<br /> 3 Water $26,918,811 $27,734,889 $28,578,405
<br /> 4 Recycled Water $3,255,500 $3,216,401 $3,256,700
<br /> 5 Revenue Adjustments $0 $0 $0
<br /> 6 Other Revenues-Water $2,720,041 $1,021,041 $1,047,000
<br /> 7 Other Revenues-Recycled Water $969,462 $987,962 $1,036,462
<br /> 8 Interest Income-Water $275,000 $0 $0
<br /> 9 Interest Income-Recycled Water $0 $0 $0
<br /> 10 Total-Revenues $34,138,814 $32,960,292 $33,918,568
<br /> 11
<br /> 12 O&M Expenses
<br /> 13 Purchased Water Fixed-Water $9,314,331 $9,873,191 $10,465,582
<br /> 14 Purchased Water Variable-Water $12,795,669 $13,735,207 $12,747,969
<br /> 15 Purchased Water-Recycled Water $1,690,021 $1,809,337 $1,937,076
<br /> 16 O&M Expenses-Water $10,842,999 $11,358,431 $11,863,986
<br /> 17 O&M Expenses-Recycled Water $762,057 $796,631 $828,990
<br /> 18 Total-O&M Expenses $35,405,077 $37,572,796 $37,843,602
<br /> 19
<br /> 20 Debt and Capital
<br /> 21 Debt Service-Water $1,385,849 $1,385,849 $1,385,849
<br /> 22 Debt Service-Recycled Water $1,415,535 $1,415,535 $434,895
<br /> 23 Rate Funded CIP-Water $3,955,000 $4,468,750 $7,590,625
<br /> 24 Rate Funded CIP-Recycled Water $50,000 $56,250 $61,875
<br /> 25 Total-Debt and Capital $6,806,384 $7,326,384 $9,473,244
<br /> 26
<br /> 27 Net Cash Flow ($8,072,648) ($11,938,888) ($13,398,278)
<br /> 28 Net Revenue ($1,266,264) ($4,612,504) ($3,925,035)
<br /> 29
<br /> 30 Debt Coverage
<br /> 31 Calculated (0.89) (3.26) (9.03)
<br /> 32 Required 1.25 1.25 1.25
<br /> 33
<br /> 34 Water Operating and Capital
<br /> 35 Beginning Balance $9,852,554 $5,472,557 ($8,592,940)
<br /> 36 Ending Balance $5,472,557 ($8,592,940) ($25,021,546)
<br /> 37 Reserve Target $11,533,550 $12,238,390 $12,277,138
<br /> 38
<br /> 39 Recycled Water Operating
<br /> 40 Beginning Balance ($1,873,039) ($1,565,690) ($1,439,080)
<br /> 41 Ending Balance ($1,565,690) ($1,439,080) ($408,753)
<br /> 42 Reserve Target $918,997 $962,858 $1,007,642
<br /> 43
<br /> 44 Combined Financial Plan
<br /> 45 Beginning Balances $7,979,515 $3,906,867 ($10,032,020)
<br /> 46 Ending Balances $3,906,867 ($10,032,020) ($25,430,299)
<br /> 47 Reserve Target $12,452,547 $13,201,248 $13,284,780
<br /> Figure 2-1 and Figure 2-2 show the projected status quo financial plans for water and recycled water in graphical
<br /> format,respectively. The bars represent the water utility's cash needs: O&M expenses(light gray),debt service
<br /> (dark gray),rate funded capital(yellow), reserve funding(green), and purchased water(blue).The solid line
<br /> represents the current revenues,which is below the stacked bars for each for water, signifying that the City's
<br /> current water revenues are not sufficient to fund its costs.
<br /> WATER AND RECYCLED WATER RATE STUDY REPORT 25
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