HomeMy WebLinkAbout#4 Attachment 1 Annual ReportTRUCKEE DONNER PUBLIC UTILITY DISTRICT
CERTIFICATES OF PARTICIPATION
(WATER SYSTEM IMPROVEMENT PROJECTS)
SERIES 2015 - REFUNDED PORTION
ANNUAL REPORT 12/31/2016
CONTINUING DISCLOSURE CERTIFICATE: 4. Content of Annual Reports
(a)The audited financial statements were electronically forwarded to
Bank of New York on 06/15/2017.
(b)The principal amount of refunded Certificates outstanding was $13,495,000
as of December 31, 2016.
(c)The Reserve is no longer required due to the 2015 refunding.
(d) Updated tables from "THE WATER SYSTEM OF THE DISTRICT"
IN THE Official Statement are attached:
(i)"TRUCKEE DONNER PUBLIC UTILITY DISTRICT -
Historic Water Production and Accounts" on page 30
in the 2015 Refunding of the Official Statement.
(ii)"TRUCKEE DONNER PUBLIC UTILITY DISTRICT -
Historic Sales Revenue" on page 30
in the 2015 Refunding of the Official Statement.
(iii)"TRUCKEE DONNER PUBLIC UTILITY DISTRICT -
Largest Customers" on page 32
in the 2015 Refunding of the Official Statement.
(iv)"TRUCKEE DONNER PUBLIC UTILITY DISTRICT -
Historic Operating Results of Debt Service Coverage" on page 42
in the 2015 Refunding of the Official Statement.
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
Historic Water Production and Accounts
Total
Production
(Million % Increase/Commercial % Increase/Residential % Increase/
Year Gallons)(Decrease)Accounts (Decrease)Accounts (Decrease)
2001 1,736 481 8,130
2002 2,198 26.61%548 13.93%10,268 26.30%
2003 2,208 0.45%563 2.74%10,491 2.17%
2004 2,424 9.78%582 3.37%10,739 2.36%
2005 2,206 -8.99%605 3.95%11,146 3.79%
2006 2,371 7.48%646 6.78%11,436 2.60%
2007 2,433 2.61%641 -0.77%11,801 3.19%
2008 2,304 -5.30%656 2.34%11,843 0.36%
2009 2,056 -10.76%670 2.13%11,900 0.48%
2010 1,786 -13.13%695 3.73%11,876 -0.20%
2011 1,727 -3.31%709 2.01%11,711 -1.39%
2012 1,857 7.53%706 -0.42%11,753 0.36%
2013 1,846 -0.58%706 0.00%11,809 0.48%
2014 1,682 -8.88%699 -0.99%11,915 0.90%
2015 1,381 -17.90%704 0.72%12,012 0.81%
2016 1,460 5.69%706 0.28%12,121 0.91%
TRUCKEE DONNER PUBLIC UTILTIY DISTRICT
Historic Water Sales Revenues
% Increase/% Increase/
Year Residential (Decrease)Commercial (Decrease)
2001 $3,944,222 $476,195
2002 5,013,242 27.10%647,822 36.04%
2003 5,768,092 15.06%678,423 4.72%
2004 6,254,756 8.44%825,109 21.62%
2005 6,609,311 5.67%844,812 2.39%
2006 7,160,485 8.34%991,941 17.42%
2007 7,875,829 9.99%1,165,511 17.50%
2008 8,459,823 7.42%1,179,157 1.17%
2009 8,577,396 1.39%1,137,447 -3.54%
2010 8,973,220 4.61%1,184,084 4.10%
2011 8,731,670 -2.69%1,227,533 3.67%
2012 8,492,037 -2.74%1,374,376 11.96%
2013 8,508,607 0.20%1,338,298 -2.63%
2014 8,742,143 2.74%1,328,800 -0.71%
2015 9,014,695 3.12%1,230,259 -7.42%
2016 9,783,533 8.53%1,407,446 14.40%
TRUCKEE DONNER PUBLIC UTILTIY DISTRICT
Largest Water Customers - Fiscal Year 2016
Customer Water Usage (1)Annual Payments
TAHOE MOUNTAIN CLUB (Old Greenwood & Gray's Grossing Golf Courses)150,952,087 $146,246
COYOTE MOON GOLF COURSE 66,222,946 44,755
TAHOE DONNER ASSOCIATION 31,249,501 125,542
TRUCKEE DONNER RECREATION AND PARK DISTRICT 21,085,773 51,810
TAHOE TRUCKEE UNIFIED SCHOOL DISTRICT 17,618,712 44,750
VILLAGE GREEN MOBILE HOME PARK 13,473,370 30,079
TAHOE FOREST HOSPITAL 12,900,913 44,296
BOB GALES (Coachland Mobile Home Park)10,661,000 23,731
DONNER CREEK MOBILE HOME PARK 7,700,514 14,462
OREGON INVESTORS (Truckee Pines Apartments)6,172,879 30,264
TOP TEN TOTAL 338,037,695 $555,935
TOTAL SYSTEM 1,459,583,258 $10,313,592.78
23.16%5.39%
(1) Gallons
TRUCK EE DONNER PUBLIC UT IL IT Y D ISTRICT
H istoric Water Operating Results & D ebt Service Coverage
Fiscal Year Ending December 31
Revenues 2013 2014 2015 2016
Sales to Customers $9,870,531 $10,102,819 $10,313,593 $11,312,973
Standby Fees 157,440 150,390 145,840 138,480
Investment Income (1)10,506 87,312 85,741 70,573
Facilites Fees (2)264,199 417,873 386,647 595,761
Connection Fees (2)(3)90,856 166,328 139,771 180,226
Meter Surcharge 703,982 0 0 0
Other (4)328,553 403,847 329,644 610,697
Total Revenues $11,426,067 $11,328,570 $11,401,236 $12,908,710
Operating & Maintenance Expenses
Operations and M aintenance $4,802,929 $4,508,867 $4,422,049 $4,484,787
Administration and General 1,829,741 2,114,506 2,088,100 2,254,537
Customer Services 730,605 813,864 725,096 656,181
Pension Expense - GASB 68 0 0 226,149 488,236
OPEB Expense 0 0 0 287,687
Total Operations & M aintenance E xpenses $7,363,275 $7,437,237 $7,461,394 $8,171,428
Net Revenues $4,062,792 $3,891,333 $3,939,842 $4,737,282
Parity Debt Service (5)
2006 Installment Purchase A greement $1,895,089 $1,898,889 1,812,849 1,768,638
DWR Proposition 55 Loan $306,481 $306,481 $306,481 $306,481
Interest on Parity Debt Service R eserve Funds (6,130)(5,283)(5,485)(2,904)
Total Parity Debt Service $2,195,440 $2,200,087 $2,113,845 $2,072,215
Parity Debt Service Coverage 1.85 1.77 1.86 2.29
Net Revenues Remaining for Subordinate Debt $1,867,352 $1,691,246 $1,825,997 $2,665,067
Service
Subordinate Debt Service (5)(6)$316,944 $316,944 $316,944 $316,944
Parity and Subordinate Debt Service Coverage (7)1.62 1.55 1.62 1.98
Balance Available for Capital P rojects or Other $1,550,408 $1,374,302 $1,509,053 $2,348,123
Purposes
NOTES
(1) Excludes interest component of Donner Lake Assessment and interest on parity debt service reserve funds.
(2) Appears as contributed capital in the Financial Statement of the District.
(3) Historically, connection fees were recognized in the year in which the connection to the Water System was
effected rather than the year in which the connection fee w as allocated.
(4) Includes interdepartmental sales.
(5) Debt service presented on an accrual basis.
(6) Represents payments on Capital Leases. The DW R Loan, which is secured by , and has historically been paid
entirely from, the Donner Lake Assessments, is excluded form subordinate debt service.
(7) Subordinate Debt Service, P arity and Subordinate Debt Service C overage, and Balance Available for C apital
Projects have been amended for 2006.