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Table 2-15: Projected O&M Expenses
<br />Line O&M
<br />I Water
<br />2 Labor 5,171,351 $6,068,377 $6,321,562 $6,555,501
<br />3 Electricity 1,075,000 $800,000 $848,400 $891,159
<br />4 Purchased Water 17,660,000 $22,110,000 $23,608,398 $23,213,551
<br />5 Other Expenses 3,739,313 $4,095,990 $4,314,900 $4,548,436
<br />6 Attrition Savings 103,427) ($121,368) ($126,431) ($131,110)
<br />7 Total-Water 27,542,237 $32,952,999 $34,966,828 $35,077,537
<br />8
<br />9 Recycled Water
<br />10 Labor 572,442 $616,410 $643,650 $668,318
<br />11 Purchased Water 1,115,000 $1,690,021 $1,809,337 $1,937,076
<br />12 Other Expenses 210,219 $157,975 $165,854 $174,038
<br />13 Attrition Savings 11,449) ($12,328) ($12,873) ($13,366)
<br />14 Total-Recycled Water $1,886,212 $2,452,078 $2,605,968 $2,766,066
<br />15
<br />16 Total-O&M Expenses $29,428,449 $35,405,077 $37,572,796 $37,843,602
<br />2.8. Existing Debt Service
<br />Table 2-16 shows the City's existing debt service. Water does not currently have any existing lines of debt.
<br />Recycled water has two lines of debt,one of which will end after FY 2025.The City plans to take out a$6M loan
<br />in FY 2024.The debt scenario used in this Study includes a 5%interest rate and a 5-year repayment period.
<br />Annual debt service payments of approximately$1.4M annually will begin in FY 2024. The City does not expect
<br />to issue any additional debt to fund capital projects for this Study period.
<br />Table 2-16: Existing Debt Service Summary
<br />Line Existing Debt Service
<br />1 Water
<br />2 N/A 0 0 0
<br />3 Total-Water 0 0 0
<br />4
<br />5 Recycled Water
<br />6 Recycled Water State Loan 434,895 $434,895 $434,895
<br />7 Recycled Water Bank Note 980,640 $980,640 0
<br />8 Total-Recycled Water 1,415,535 $1,415,535 $434,895
<br />9
<br />10 Total-Existing Debt Service $1,415,535 $1,415,535 $434,895
<br />2.9. Capital Project Funding
<br />Table 2-17 details the City's capital improvement plan for water and recycled water. City staff provided five-year
<br />CIP based on current year dollars. From FY 2023 onward, CIP costs are inflated using the expense escalation
<br />WATER AND RECYCLED WATER RATE STUDY REPORT 23
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