HomeMy WebLinkAbout10 Attachment 4 Overhead Rent Debt BudgetsTDPUD Budget FY2022 and FY2023 (Draft 11/3/2021)
APPENDIX 4
LABOR BENEFIT COSTS % LABOR OVERHEAD
Current Year
BUDGET
2022 Budget
(year 1) Draft
11/3/2021
2023 Budget
(year 2) Draft
11/3/2021
FY21 Amount Pctg FY22 Amount Pctg FY23
VALUE OF BENEFITS
Medical/Dental insurance 2,719,708$91,313 3%2,811,021$112,441 4%2,923,462$
Self-funded vision benefit 67,531 5,308 8%72,839 00%72,839
Long term disability insurance 39,399 12,996 33%52,395 3,264 6%55,659
Life insurance 64,392 3,009 5%67,401 4,199 6%71,600
Longevity 19,570 2,790 14%22,360 894 4%23,254
FICA 575,917 49,383 9%625,300 35,119 6%660,419
Fed Med 134,690 21,626 16%156,316 3,351 2%159,667
Worker's compensation 308,441 (63,585) -21%244,856 15,253 6%260,109
Pension 2,525,170 348,219 14%2,873,389 208,339 7%3,081,728
Other Post Employment Benefits 113,300 1,700 2%115,000 5,000 4%120,000
Value of non-productive labor (vacation,
admin leave,sick leave, holiday)1,256,225 246,324 20%1,502,549 32,278 2%1,534,827
TOTAL VALUE OF BENEFITS 7,824,343$719,083 9%8,543,426$420,138 5%8,963,565$
PRODUCTIVE LABOR
Recommended labor (Appendix II) (excludes BoD)9,264,983$1,512,182 16%10,777,165$231,520 2%11,008,685$
Less value of non-productive labor (above)(1,256,225)(246,324) 20%(1,502,549)(32,278) 2%(1,534,827)
TOTAL PRODUCTIVE LABOR 8,008,758$1,265,859 16%9,274,617$199,241 2%9,473,858$
% of Recommended Labor 86.4%86.1%86.1%
PAYROLL OVERHEAD
Value of Benefits / Productive Labor 97.70%(0.0558) -5.7%92.12%0.0250 2.7%94.61%
OTHER METRICS
15,833,101$1,984,942 13%17,818,043$619,379 3%18,437,423$
49.42%(0.0147) -3.0%47.95%0.0067 1.4%48.62%
70.89%(0.0556) -7.8%65.33%0.0215 3.3%67.48%
Benefits excluding non-productive, % of
Recommended Labor
Y2Y Change Y2Y Change
Total Labor and Benefits
Benefits as a percent of Total Labor and
Benefits
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This appendix assumes that the cost of operating, maintaining and replacing District vehicles and equipment
will be recognized as an overhead charged against direct labor that uses the vehicles.
FY21 FY22 FY23
TRANSPORTATION & EQUIPMENT EXPENSE
Vehicle operation, repair, fuels & misc expenses $578,545 $801,365 780,093
Insurance 28,995 25,000 25,750
Replacement (depreciation expense)380,812 429,929 442,827
TOTAL TRANSPORTATION EXPENSE $988,352 27%$1,256,294 -1%$1,248,670
DIRECT LABOR HOURS
General Manager 5,445 8,466 8,456
Administrative Services 185 130 130
Conservation 334 330 330
Electric Operations/capital 44,255 44,388 42,140
Water Operations/capital 34,595 35,383 34,467
IT Power Supply/capital 2,320 3,764 3,764
TOTAL DIRECT LABOR HOURS 87,134 6%92,461 -3%89,288
TRANSPORTATION/EQUIPMENT OVERHEAD PER HOUR COST
$11.34 20%$13.59 3%$13.98
FY21 FY22 FY23
APPENDIX 4
TRANSPORTATION OVERHEAD
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TDPUD Budget FY2022 and FY2023 (Draft 10/20/2021)
APPENDIX 4
ADMINISTRATIVE OVERHEAD
FY21 FY22 FY23
COMMON SUPPLY COSTS:
Purchasing/Warehousing of Common Supplies
Labor $140,577 $148,616 $153,065
Accounts Payable 45,106 45,400 46,762
Overhead:
Labor 127,518 136,899 144,820
Administrative 6,902 5,974 6,276
320,103 336,889 350,923
Warehousing Operating Costs
Utilities & Building Maintenance 25,760 29,836 31,029
Miscellaneous (insurance)6,695 6,000 6,180
Subtotal 32,455 35,836 37,209
TOTAL PURCHASING/WAREHOUSING/COMMON SUPPLIES $352,558 $372,725 $388,132
TOTAL PRODUCTIVE LABOR $8,008,758 $9,274,617 $9,473,858
ADMINISTRATIVE OVERHEAD 4.40%4.02%4.10%
FY21 FY22 FY23
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FY22 FY23
Step 1 General direction and general construction costs from budget:
Electric Operations 108,630$114,486$
Water Operations 127,909 134,766
Total 236,539$249,252$
Step 2 Determine capitalized labor as a percent of total labor:
Capitalized
Labor exclds CFD 1,627,087$1,547,869$
Total Electric & Water Labor 6,036,232$6,019,536$
Step 3 Determine construction overhead to be capitalized:
Total General direction & construction costs 236,539$249,252$
% of labor to be capitalized 26.96%25.71%
General direction & construction costs to capitalize 63,760$64,093$
Construction accounting costs to capitalize 207,138 216,145
270,898$280,238$
Step 4 Calculate construction overhead to be applied to capital improvements:
Capital FY 2021 Budget
Overhead $258,630 $270,898 $280,238
Capital Labor $1,526,321 $1,627,087 $1,547,869
CONSTRUCTION OVERHEAD =16.94%16.65%18.10%
FY21 FY22 FY23
26.96%25.71%
18.10%16.65%
TDPUD Budget FY2022 and FY2023 (Draft 10/20/2021)
APPENDIX 4
CONSTRUCTION OVERHEAD
16.94%
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8A4 Overheads Rent Debt Budgets - Page 4 of 7
FY21 FY22 FY23
DISTRICT HEADQUARTERS:
Building operation/PM/repair 433,606 -3%422,552 3%435,074
Depreciation of jointly used assets 639,467 -13%559,096 27%709,078
TOTAL COSTS $1,073,073 -9%$981,648 17%$1,144,152
The Electric Utility owns the district headquarters.
The Water Utility pays the Electric Utility rent for the use of the District headquarters and jointly used assets.
The rent is calculated as 50% of the above costs, as presented below:
Water Utility %50%50%50%
Water department share @ 50% (rounded)536,536$490,824$572,076$
Monthly rent paid to Electric Dept.44,711$40,902$47,673$
FY21 FY22 FY23
TDPUD Budget FY2022 and FY2023 (Draft 11/3/2021)
APPENDIX 4
INTERDEPARTMENTAL RENT
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APPENDIX 4
ELECTRIC DEBT SCHEDULE
Principal and Interest Payments
Refinanced Pension
Liability New Debt less Water
YEAR Electric TOTAL portion net Electric
2020 1,035,094 1,035,094 (414,038)621,056
2021 1,071,555 1,071,555 (428,622)642,933
2022 545,657 120,000 665,657 (338,263)327,394
2023 441,491 441,491 441,491
2024 441,491 441,491 441,491
2025 441,491 441,491 441,491
2026 441,491 441,491 441,491
2027 441,491 441,491 441,491
2028 441,491 441,491 441,491
2029 441,491 441,491 441,491
2030 441,491 441,491 441,491
2031 441,491 441,491 441,491
only 1st 10 years shown
Loan Descriptions :
In 2011, an existing pension liability was refinanced saving the District more than $1 million over the term.
Debt Payments:
Funded by electric and water rates.
New Debt Electric; Assumptions (int only 1/2 year in 2022)
Electric - NEW DEBT - PRINCIPAL PROCEEDS E1 6,000,000
INTEREST RATE 4.00%
TERM(YEARS)20
estimated ANNUAL PAYMENT (441,491)
Debt Issuance COSTs 185,000
8A4 Overheads Rent Debt Budgets - Page 6 of 7
Pipeline Pipeline Pipeline
COP COP COP New Water portion of
YEAR Rates FF Assmt Debt TOTAL Pension Sidefund Total w/SF
2022 576,869 358,008 99,060 300,000 1,333,938 338,263 1,672,200
2023 577,228 358,672 97,837 960,179 1,993,917
2024 573,008 359,233 100,297 960,179 1,992,717
2025 576,529 360,884 97,925 960,179 1,995,517
2026 573,196 359,005 99,736 960,179 1,992,117
2027 575,581 359,806 97,150 960,179 1,992,717
2028 574,322 358,474 99,142 960,179 1,992,117
2029 570,555 360,101 100,444 960,179 1,991,279
2030 575,893 359,147 97,360 960,179 1,992,579
2031 574,705 359,524 98,421 960,179 1,992,829
2032 573,333 357,313 100,104 960,179 1,990,929
2033 575,711 359,424 101,490 960,179 1,996,804
2034 574,484 359,309 97,207 960,179 1,991,179
2035 306,800 960,179 1,266,979
2036 960,179 1,266,979
only 1st 15 years shown
Loan Descriptions :
Pipeline COP - Water system improvements and Donner Lake financing
DWR/SRF - Replacement of Donner Lake Water System -- paid off early in full in 2021
DWR/Prop 55 - Water system improvement projects - final payment made in 2021
Debt Payments:
The Water debt payments are funded by development (FF), current customers (rates) and special assessments (assmt).
The method of payment for the water debt is listed in the column headings.
New Debt Water; Assumptions (int only 1/2 year in 2022)
APPENDIX 4
WATER DEBT SCHEDULE
Principal and Interest Payments
New Debt - Rates - A
NEW DEBT - PRINCIPAL PROCEEDS 15,000,000
INTEREST RATE 4.00%
TERM(YEARS)25
estimated ANNUAL PAYMENT (960,179)
Debt Issuance COSTs 285,000
debt issued in Q3 2022, payments start in 2023
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