HomeMy WebLinkAbout14 WS Review Financial Goals,Reserves,debtAgenda Item # 14
WORKSHOP
To:
Board of Directors
From:
Robert Mescher
Date:
August 03, 2011
Subject:
Review of District Financial Goals, Reserves and Debt
1. WHY THIS MATTER IS BEFORE THE BOARD
This is an annual review with the Board of the status of its Financial Goals as outlined
in Title 3.01.01.1 of the District Code.
2. HISTORY
In 2004, the Board adopted a set of Financial Goals. The status of the Financial
Goals was last reviewed with the Board on February 17, 2010. The Board has directed
that these Financial Goals be reviewed each year.
3. NEW INFORMATION
Attachment 1 lists all of the District Financial Goals and whether the goal was
achieved or not. All of the District Financial Goals have been achieved with the
exception of the following:
Planning Goals
The goal of reviewing the Water Master plan every five years was not achieved. The
last review and update was in 2004. A Water Master Plan review and update is
planned for early 2012.
The goal of annually reviewing the Financial Master Plan was not achieved. It was last
reviewed in 2009 with the FY10-FY11 Budget. Staff recommends that the Board
consider modifying the goal to review the Financial Master Plan every two years with
the two-year budget process.
The goal of annually reviewing the Water Capital Improvement Plan was not achieved.
The Urban Water Management Plan was delayed by the State, further delaying the
Water Capital Improvement Plan. The Water Capital Improvement Plan is projected to
be ready for review in early 2012. Staff also recommends that the Board consider
modifying the goal to review the Capital Improvement Plans every two years with the
two-year budget process.
Debt Goals
The goal of committing to debt service no more than one half of the projected annual
Water facilities fees was not achieved. The Water facilities fees have declined and are
less than the committed facilities fees.
The goal of ensuring that no debt matures later than 25 years will be achieved next
year as the Water 2006 COP matures in 2036.
Cash Reserve Goals
The goals of retaining an Electric cash reserve of twice the highest month's budgeted
expenditure and an Electric Rate Stabilization Fund of $3,000,000 were not achieved.
With the maturity of the 2013 COP debt, these goals are projected to be achieved in
2014.
Capital Reserve Goals
The goal of reserving $4,000,000 for Water capital replacement was achieved in
2010, but the reserve has been utilized for specific projects as approved by the Board.
Rates continue to fund this reserve and the goal is projected to be achieved by 2014.
The goal of reserving $1,000,000 for Electric capital replacement was not achieved.
With the maturity of the 2013 COP debt, this goal is projected to be achieved in 2014.
4. FISCAL IMPACT
There is no direct fiscal impact associated with this item.
5. RECOMMENDATION
Review this report and provide comment.
Robert Mescher
Acting Administrative Services Manager
Michael D. Holley
General Manager
V
Z
Z
Z
75
ca
c
c
ca
E
a)
co
N'
3
N
N
N
T
N
U
L
L
(D (D
-aO
M
a N
ca
ca co
c
c
a) a))
O a
o
ca ca
FK
"a
O
N
C
(DL
3
CO
OCT
a)
E
Q)
Trr,
,
L
>
U
-0
O p
c
m
a)
CL
fa E
(a
'a
} T
U-}
>O
O O
N�
(DLL
a)
Z
CL
'
C
O
(D CO U
}
c LL
—
m °3
a)
O
a)O
n
O
a)
> L Co
a)
N
CD
00
L
ca
ca
O O
CIS
O C
L}
N
��
3
o
CO LL�
l
L
T
(D-0
C y
(DT
�N
}
3LL
'� >, a)
a� >
>
L
a)
:3 () a)
CO Co
0
>
O -
N CO
C ca w C
(D
>
ZE
a)
wC)
T T
�3�
C 3
O U-
O O
C U N
(a - ca C ca
U >+ C
CIS
-0 Z
m
L C
0..
�
Q- �CL
O
-0
3.N
s
c..
���
a ca
t.o3
0,5 a)
(D0)�Eo0
O cr.
0 O c
a) >
a)
O Q
rt+
CL> (DU
.� O >
Co
_
C co L
.O
C Q 0 OL
CLww
ca ca
���
a w ca
3�ccoEa
a)
— E a)
y
( 3 a)
"o " T
O
cw
�� 3
rt+
�ca
:3� a) T
pN
0.caaC
CIL
2 �-
c)
cii
U U
L cc$
V rt�+
(DL 'a
� co
fa a) T
cn
fa 'i L C
cis
W g a)
c ca
L >
Q O �
r
ca a) E
'a U ca
as
LL 2 —
° L
>ca
'C
�
L
L
(A
L L L
� is is cr
N N
a) r
W
N C (D>+
>+ ca C
L
' r 0
O
>, (D Q) O
(a
(a
3 �
C C a)
(D M
o T
C)
C C C C
3 cL
3 D
(D (Dr
��La
�QH
�H
OHN
0-
CL
!]
_O
}
W a)
C U
'C U
v a)
O �
U
iT
(A }
a) LL
ca
O
O U-
ai a)
ca L
CO
�
ca M
ca U N
C C r-
a) • T
N j CO �+
L
> L
NC
�.. o
c
O N L a)
`2ca � (Da)J L
ca
Co L
ca E c ca n
nT � fa
> •� 2:1 o
gD ca N a`)
U
� ) — (D
cc$ N III co N
Q 0@ ca
EO O
U Q) fa A
cn L a) c Ca
r > :a
a) cn c
ca 0 jL LL
(D =t—in .5
cr- cr-
G CO
71
w O
Z
a)
0
3
a) aNi
a)
C C
> O
O j
U a)
� C
O C
.O o
U
w O
co
cn
c ca w
O U U
N O O
C 0
N
O
c N m
ca co c+M
C 2'
M
E L N
C a) T
c LL
O N
to O Q C
7 U p C
c
L T
> N O
a) 0 3 N
a)
'a O
o CIS E
E 2 a)
N U >O
L C
.�
O .� N
w
U0 3
C T
C p T a)
N" LL a)
cis L
O O C O C
O O ca
N
M (D —
ca
o mho
y IL
0 �
(DL ca L C
C U U O ca
> o a) ca
O (DW C O
C C E C
"= O ca (D
` U O H
O
cn Q
T N
c
O
}
LL o
L 0
O m
'a (D
a) c
c ca
C L
O U
E C
U
N M
(D
a) >
a)
a) m
U (n
M N
O (D
w a)
cm
rt+
M ca
ca a)
O. C j
L >
Ca
O
L N
ca O 0
O CaN
O i co
U- a T
4. Q T
0 o c I}i
O L
-p O
s n a) O
�+ O CL T
ca 0 LL
cc$ca 3 w Ca O
acc$i � �
O ca O
(1) O E
CD
ca
O U
CO M
(1)
Cl)
U a) T Cl)
WILw
U U O D U
ca C) •a—'
3 } D U
�F—
LLH
Q)
Q
m
c+M
0
N
O
^ca
CL
'a
m
m
r
0
a
la1
a
CO) ul
o
a
oorn
ooU*)
U
O O
O O
C
O O
O O
ao rl
d N
T T
LO CO
co
N
C
()
E
N
co
a)
N
N
co
U
'C
a
c
a)
E
N
N
co
C
ca
CD
U
()
n
._
N
a)
L
a)
is
_c
a)
�
a
a)
N
°'
0
0)
U N
tT
N 7
co
i
()
7 a)
L
C
w
'
a)
a
cn
a) c
E
(`o
a)
c`c$
a)
Ua
cn >,
cc$0
io
c
a) T
}
co T
D
0
c ccc$
—_
aa)i c
C c
E co
co
c ! a)
F- ()
a a)
0
06
0 w
N
LL C
i C
>
U
C a)
LL a)
Z
c
C 7
O
N
i 0
L
N N
a
0
N 0
a)
Q
c
27
L
_
W U —C
�� c
cc$
coo -Ccoo
L a)
U i
L a)
'" i
U
L
cc$.L.
L
O a)
w a-
O a)
I— CL
a)
C
0 .5
O
r �
N
c+�
}
Z
a)
}
Z
0 0
0 00-0-
o o
o o
0 O
00c)
ooc)
ooao
O
O O T
o O T
o 0 T
C000
00
00
TLn
00
00
I�i C6
r N
N
T
N
T
O
N
C
co
0
L
N
)
()
U
U
co
FE
N
3
L
'C.)
a)
a
w
0
0
N
-C
E
D
E
a
0
U
3
N
c
C
C
a)
>
C
> a)
c C)
(D(Da
=—
7 0
�a
7 0
�a
7
ai
>a)
- �,
Cl)
(D a) a)
(D
�_a
> _a
`
cLo
a)
a) a)
co
0 cca —
'c. �
c
(D (D _
C (D
co
N
a'"- 0
a)w 0
°-'E5
rn
(O E
>
>V' E
a)>
c
cno
a
__ Cl)
a)
w C
0.
Co
coo a) U
E (Dco
U C U
N
i
(o ^ C
= C
"
>
E co
E
•L >% 7
0.a)
L E 5
n
a) c6 >
06
`
(
U
coa)a)
°
>
"�
Na
Ca
>+O
W-0�
aaLL
a)
a (D LL
c
a a)
rn m
(D
Lo U
4? U LL
�? a LL
a)
— ?LL
(D•-
�LL
N
CO
co O
N « co
a) co
a N "
rn Cl)
N
(DU.
O N C
a
O co C
n�
y
L C
Uaa
7 C
�aa
0
3
0
0
0
T
a)} 0
a) T w
cc$ O
_
LL
LL LL
LL LL �
E
W LL 1
LL o
a
Z
Z
CD
C
co
L
P11
W,
0
N
a)
rn
co
IL
�o
m
a)
L
V
a
m
}
z
z°
00
00
00
00
Dr-
00
O cn
o m
rS cri
rl or
16% 69.
61.11 69.
a
C
m
cz
x
a)
a
a)
a)
rn
a
c
O
E
coO
O
O
O
O CO
L
Ch
O
E,
y
O
O
O ca
ri 3
3
�a
o c
a)
a)
a)
c
_�
cC c
c C
0
ca
Q 5
co
c�
a) ca
N -0TO
ca CZ
-.Nr
a
2 a N
cz
(D
U
CO N
asL
7 cd
C
CD
Co
>ai
L
2
(D a)
ID —0
a cn a a
'O c 0
c ca
O
75 O .O.
a
CO (D
ca
co a'O
r O
L
N Cl
Co
c a)
m a)) o
cz
cy) O
�
can a) o
CY
p)L
(y6 - a)
Cc$ —
U (1) +O- ~
U L H
�H
: WI—
w
w
N
M
O
z
O
0
a
a
a)
a
c
a
c
ca
a
m
I -
as
'c
O N
o) �
U �
a)
a
a >'
U
a) ca
a
O
O O
O a
O a)
o a)
0 Q
It cl
O ,D
C O
O
E o
O O
� o
0
c lqi
cq
c �
7 .N
N N
c
ca
y cu
a) c
c :
CZ nc LL
a3 L�
CD U L C
L
CD = C
j O a)
O co Co
c
ovIr
E Fz
CL
co ca
cmU
O
v- m
7 O 5
L C
co a) a)
E�
a) a)
rn
C
Co
T cU
O
z
O O
C 0
=o
0
0
ca�
a)
+-C� a)
C U
CO
C
a �
(a
c
�LL
m c
L ()
a3 E
i2 a)
CO Co
U a
U N
L cc
N �
W a
c
U
a)
L
a U
7 N
O W
N L
m �
a)
V
CD
a)
}
a
('
CD
m
}
a
m
a
m
a)
C i
N ca
co >
CD Lo
CD
a) T
co C
ca
L y
L
CL
C ca
m
E a
L N
>U
N
O ca
0 a)
ca
Q- 0
O a)
m a)
C t
ca ca
c c
E Z
a as
C CD
a3 N
N
L c
C
ca C
�a
m m
� y
v �
7 Q
-a
co 5
-p O
c �
7 U
() C
U
m c
L �H
a E
L
N
co
m
0)
ca
rL