HomeMy WebLinkAbout10 Transfer of funds Agenda Item #
TRUCKEE DONNER
Public
Memorandum
To: Board of Directors
From: Mary Chapman, Administrative Services Manager
Date: April 26, 2007
SUBJECT: Consideration of transferring funds from the water facilities fees restricted funds to the water
general fund and the land sales trust fund
1. WHY THIS ITEM IS BEFORE THE BOARD
The District has spent general funds and land sales trust funds to finance the construction of projects
that qualify for facilities fees reimbursement. Additionally, a portion of the debt repayment on the 2006
COPs was to come from facilities fees. Only the Board can authorize expenditures from the facilities
fees restricted funds.
2. HISTORY
During the budget process, staff lists out the planned capital projects for the year and declares their
funding source. Additionally, during the year the District sometimes has to build projects that are true
upgrades to our system and are eligible for refund from facilities fees. Steve, Ed or I bring these
transfer requests to the Board so that the funds can be transferred from the facilities fees restricted
funds to reimburse the electric and water general funds or other funds used to construct a project.
3. NEW INFORMATION
Attached are three reports:
The first report shows a request for a facilities fees transfer listing a description of the project that was
constructed with general fund money and why it qualifies for facilities fees reimbursement. The Board
has already authorized a transfer from facilities fees for the majority of the costs of this project.
The second report is from Ed stating that two of the projects that were constructed during the period of
connecting the Glenshire water system to the District's water system are eligible for reimbursement from
facilities fees.
The third report is a breakdown of the 2006 COP debt service repayment schedule showing the sources
of repayment, a portion of which is to come from facilities fees.
The balance in the water facilities fees restricted funds as of 3/31/07 is $4,158,221.98. The balance
after the recommended transfers will be $3,088,995.42.
RECOMMENDATION:
That the Board take the following action:
1. Reimburse the District's water general fund from the water facilities fees restricted fund for
monies spent on capital projects in the amount of $114,503 per the attached listing.
2. Reimburse the District's land sales trust fund for $597,271.12 plus accrued interest for a
portion of the costs to upgrade the Glenshire Drive Well and the cost of over sizing the
transmission main to connect the Glenshire water system to the District water system from 12"
to 16".
3. To approve water facilities fees transfers of principal and interest payments in the amount of
$357,452.44 per the attached 2006 COP debt service payment schedule.
WATER FACILITIES FEES PROJECTS: Details provided by Ed Taylor
WO# 04-74615 Old Greenwood Well by Tank $114,503
This project was for the construction of a water supply (well). This project was identified in the Water
System Master Plan for construction by facilities fees. The construction of this project is complete.
This project was necessary to meet increased demand caused by growth. The cost is for the
construction of the project. The Board has previously transferred $1,161,843.00 from facilities fees.
Including this transfer the total project costs are $1,276,346.
Total 2007 project cost to date for water facility fees transfer $11 5Q
Public
Memorandum
To: Mary Chapman
From: Ed Taylor
Date: April 14, 2007
Subject: Glenshire Water Projects Reimbusment
The two capital projects that were constructed as part of the consolidation of the
Glenshire Water System with the District's Main Water System are elegible for
partial reimbusement for over sizing from the District's facilities fees fund.
Over sizing transmission main from 12" to 16".
The project was 11,903 feet in length at a cost of $30.00 per foot.
This equals a reimbursement from the facilities fees fund of $357,090
Upgrade of Glenshire Drive Well.
Glenshire Water paid for 1/3 of the capacity of the Glenshire Drive Well.
Therefore 2/3 of the upgrade cost is the responsibility of the District. Total cost of
well upgrade was $360,271.69.
This equal a reimbursement from the facilities fees fund of $240,181.12
The Total reimbursement from the Facilities Fees Fund of $597,271.12
2006 COP
Debt Service
Total Refunding General Facilities Fee DL Total
Date Principal Interest Debt Service Portion Rate Portion Portion Portion Debt Service
11/15/07 615,000.00 1,283,460.22 1,898,460.22 745,780.99 697,365.50 357,452.44 97,861.30 1,898,460.23
11/15/08 745,000.00 1,151,088.76 1,896,088.76 742,688.83 698,341.63 354,800.05 100,258.25 1,896,088.76
11/15/09 775,000.00 1,121,288.76 1,896,288.76 742,925.61 697,257.01 356,772.76 99,333.37 1,896,288.75
11/15/10 805,000.00 1,090,288.76 1,895,288.76 746,585.77 695,388.23 355,696.17 97,618.58 1,895,288.75
11/15/11 830,000.00 1,058,088.76 1,888,088.76 738,371.58 696,913.11 356,360,65 96,443.41 1,888,088.75
11/15/12 870,000.00 1,024,888.76 1,894,888.76 742,759.43 696,239.59 355,905.76 99.983.98 1,894,888.76
11/15/13 905,000.00 990,088.76 1,895,088.76 742,115.90 695,735.64 358,092.26 99,145.05 1,895,088.75
11/15/14 945,000.00 953,888.76 1,898,888.76 743,752.33 698,045.21 359,075.02 98,016.20 1,898,888.76
11/15/15 985,000.00 916,088.76 1,901,088.76 747,554.31 698,044.67 358,874.60 96,615.18 1,901,088.76
11/15/16 1,020,000.00 876,688.76 1,896,688.76 746,419.33 693,984.10 356,593.54 99,691.80 1,896,688.77
11/15/17 1,060,000.00 835,888.76 1,895,888.76 743,388.66 698,310.19 356,070.37 98,119.54 1,895,888.76
11/15/18 1,100,000.00 793,488.76 1,893,488.76 741,507.48 698,896.89 356,283.54 96,800.85 1,893,488.76
11/15/19 1,150,000.00 749,488.76 1,899,488.76 746,781.61 697,176.35 355,324.15 100,206.64 1,899,488.75
11/15/20 1,205,000.00 691,988.76 1,896,988.76 744,381.74 697,017.11 357,617.33 97,972.56 1,896,988.74
11/15/21 1,245,000.00 637,763.76 1,882,763.76 730,820.36 699,548.32 356,179.16 96,215.91 1,882,763.75
11/15/22 585,000.00 575,513.76 1,160,513.76 0.00 703,445.22 358,008.16 99,060.38 1,160,513.76
11/15/23 610,000.00 551,382.50 1,161,382.50 0.00 704,872.85 368,672.43 97,837.22 1,161,382.60
11/15/24 635,000.00 525,762.50 1,160,762.50 0.00 701,232.69 359,233.31 100,296.50 1,160,762.50
11/15/25 665,000.00 498,775.00 1,163,775.00 0.00 704,966.03 360,884.45 97,924.53 1,163,775.01
11/15/26 695,000.00 465,525.00 1,160,525.00 0.00 701,783.83 359.005.02 99,736.14 1,160,524.99
11/15/27 730,000.00 430,775.00 1,160,775.00 0.00 703,818.56 359,806.05 97,150.40 1,160,775.01
11/15/28 765,000.00 394,275.00 1,159,275.00 0.00 701,659.83 358,473.59 99,141.58 1,159,275.00
11/15/29 805,000.00 356,025.00 1,161,025.00 0.00 700,479.58 360,101.47 100,443.95 1,161,025.00
11/15/30 845,000.00 315,775.00 1,160,775.00 0.00 704,267.85 359,147.44 97,359.71 1,160,775.00
11/15/31 885,000.00 273,525.00 1,158,525.00 0.00 700,580.31 359,524.12 98,420.57 1,158,525.00
11/15/32 930,000.00 229,275.00 1,159,275.00 0.00 701,858.25 357,312,85 100,103.90 1,159,275.00
11/15/33 975,000.00 187,425.00 1,162,425.00 0.00 701,510.59 359,424.29 101,490.12 1,162,425.00
11/15/34 1,015,000.00 143,550.00 1,158,550.00 0.00 702,034.02 359,309.34 97,206.64 1,158,550.00
11/15/35 1,065,000.00 97,875.00 1,162,875.00 0.00 705,425.69 358,213.34 99,235.97 1,162,875.00
i115/36 1,110,000.00 49.950.00 1,159,950.00 0.00 703,318.10 356,907.69 99,724.20 1,159,949.99
26,570,000.00 19,269,886.62 45,839,886.621 11,145,833.93 20,999,516.85 10,735,121.35 2,959,414.43 45,839,886.56
Workshop p►genda item #
Truckee Donner PUD
Enhancement of Existing
Energy Conservation Programs
2007
1
Lighting Program
• New 2007, Residential & Commercial
• Residential inc/ Free Low- Income Bulbs
• Residential- min . 10 bulbs/household & 5
bulbs/multi-family unit Q $ 1 /Bulb Rebate
• Commercial - All "High Efficiency" Lighting
Retrofits @ 1 /3 Project Cost Rebate .
Appliance Program
• Existing Program, Adding Dishwashers
• Clothes Washer & Refrigerators est. 1998
• Clothes Washers- Front Loader or Equivalent
• Rebate- $100/Qualifying Models
• Refrigerator- Energy Star, +8%EE, +15%EE
• Rebate- $50, $100, $150/Qualifying Models
• Dishwasher- Energy Star, EF 74-80, EF 81 +
• Rebate- $50, $100, $150/Qualifying Models
3
Water Heating Program
• Existing est. 1998
• Electric Water Heaters/High Efficiency
• Rebate- $2/gallon Qualifying Models
• Energy Factor( EF) Qualification
• 59 gallons or less EF93+
• 60 gallons or more EF91 +
Space Heating Program
• Existing est . 1998
• Ground Source Heat Pumps
• Highest Energy- Efficiency, Commercially
available Heating Technology , COP 3-4+
• Rebate- $200/ton , Typical Truckee Home
5-6 tons , equiv . $ 1 , 000-$ 1 ,200/Re bate
Building Program
• Existing, Testing Program est. 1998
• Mitigation Rebate New
• Building Envelope Testing $75/test
• Distribution System Testing $75/test
• Building Envelope Leak Mitigation
• Rebate up to $250, not to exceed 50% of mitigation $
• Distribution System Leak Mitigation
• Rebate up to $250, not to exceed 50% of mitigation $
s
2007 Conservation Programs
Summary
• Lighting $33,000
• Appliance $ 139000
• Water Heating $ 59000
• Space Heating $15 ,000
• Building $17 ,500
Total Conservation Rebates $83 ,500
Conservation Program's Marketing $35 , 000
Total Conservation Public Benefit$ $ 118 , 500