HomeMy WebLinkAboutAttachment 1, 2018 Annual Report District PipelineTRUCKEE DONNER PUBLIC UTILITY DISTRICT
CERTIFICATES OF PARTICIPATION
(WATER SYSTEM IMPROVEMENT PROJECTS)
SERIES 2015 - REFUNDED PORTION
ANNUAL REPORT 12/31/2018
Attachment 1
CONTINUING DISCLOSURE CERTIFICATE: 4. Content of Annual Reports
(a)The audited financial statements were electronically forwarded to
Bank of New York on 05/24/2019.
(b)The principal amount of refunded Certificates outstanding was $12,410,000
as of December 31, 2018.
(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 5.72%706 0.28%12,121 0.91%
2017 1,471 0.75%706 0.00%12,218 0.80%
2018 1,501 2.04%709 0.42%12,317 0.81%
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%
2017 10,383,019 6.13%1,464,514 4.05%
2018 10,819,427 4.20%1,558,775 6.44%
TRUCKEE DONNER PUBLIC UTILTIY DISTRICT
Largest Water Customers - Fiscal Year 2018
Customer Water Usage (1)Annual Payments
TAHOE MOUNTAIN CLUB (Old Greenwood & Gray's Grossing Golf Courses)157,975,289 $160,865
COYOTE MOON GOLF COURSE 69,637,439 53,736
TAHOE DONNER ASSOCIATION 29,102,848 133,570
TRUCKEE DONNER RECREATION AND PARK DISTRICT 27,644,657 69,583
TAHOE TRUCKEE UNIFIED SCHOOL DISTRICT 18,784,576 51,225
TAHOE FOREST HOSPITAL 15,781,365 54,395
VILLAGE GREEN MOBILE HOME PARK 12,753,392 31,298
BOB GALES (Coachland Mobile Home Park)12,363,000 28,779
DONNER CREEK MOBILE HOME PARK 7,346,480 15,040
DONNER MEMORIAL STATE PARK 6,924,833 22,094
TOP TEN TOTAL 358,313,879 $620,586
TOTAL SYSTEM 1,501,039,909 $11,801,888.32
23.87%5.26%
(1) Gallons
TRUCKEE DONNER PUBLIC UTILITY DISTRICT
Historic Water Operating Results & Debt Service Coverage
Fiscal Year Ending December 31
Revenues 2014 2015 2016 2017 2018
Sales to Customers $10,102,819 $10,313,593 $11,312,973 $11,801,888 $12,440,975
Standby Fees 150,390 145,840 138,480 133,440 123,280
Investment Income (1)87,312 85,741 70,573 84,678 113,664
Facilites Fees (2)417,873 386,647 595,761 338,461 539,946
Connection Fees (2)(3)166,328 139,771 180,226 144,722 245,393
Other (4)403,847 329,644 610,697 405,521 306,260
Total Revenues $11,328,570 $11,401,236 $12,908,710 $12,908,711 $13,769,518
Operating & Maintenance Expenses
Operations and Maintenance $4,508,867 $4,422,049 $4,484,787 $4,835,623 $5,409,637
Administration and General 2,114,506 2,088,100 2,254,537 2,231,453 2,489,625
Customer Services 813,864 725,096 656,181 640,793 762,962
Pension Expense - GASB 68 0 226,149 488,236 907,844 0
OPEB Expense 0 0 287,687 158,940 0
Total Operations & Maintenance Expenses $7,437,237 $7,461,394 $8,171,428 $8,774,653 $8,662,224
Net Revenues $3,891,333 $3,939,842 $4,737,282 $4,134,058 $5,107,294
Parity Debt Service (5)
2006 Installment Purchase Agreement $1,898,889 1,812,849 1,768,638 $1,721,629 $1,717,072
DWR Proposition 55 Loan $306,481 $306,481 $306,481 $306,481 $306,481
Interest on Parity Debt Service Reserve Funds (5,283)(5,485)(2,904)(4,301)(7,436)
Total Parity Debt Service $2,200,087 $2,113,845 $2,072,215 $2,023,808 $2,016,117
Parity Debt Service Coverage 1.77 1.86 2.29 2.04 2.53
Net Revenues Remaining for Subordinate Debt $1,691,246 $1,825,997 $2,665,067 $2,110,250 $3,091,177
Service
Subordinate Debt Service (5)(6)$316,944 $316,944 $316,944 $316,944 $0
Parity and Subordinate Debt Service Coverage 1.55 1.62 1.98 1.77 2.53
Balance Available for Capital Projects or Other $1,374,302 $1,509,053 $2,348,123 $1,793,306 $3,091,177
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 was allocated.
(4) Includes interdepartmental sales.
(5) Debt service presented on an accrual basis.
(6) Represents payments on Capital Leases. The DWR Loan, which is secured by , and has historically been paid
entirely from, the Donner Lake Assessments, is excluded form subordinate debt service.