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Home My WebLink About2006 and 2015 COPs Annual Disclosure Report TRUCKEE DONNER PUBLIC UTILITY DISTRICT CERTIFICATES OF PARTICIPATION (WATER SYSTEM IMPROVEMENT PROJECTS) SERIES 2006 - UNREFUNDED PORTION SERIES 2015 - REFUNDED PORTION ANNUAL REPORT 12/31/2015 CONTINUING DISCLOSURE CERTIFICATE: 4. Content of Annual Reports (a)The audited financial statements were electronically forwarded to Bank of New York on 06/16/2016. (b)The principal amount of the unrefunded Certificates outstanding was $3,765,000 and the refunded Certificates outstanding was $14,015,000 as of December 31, 2015. (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 19 for the 2006 COP and page 30 for the 2015 Refunding of the Official Statement. (ii) "TRUCKEE DONNER PUBLIC UTILITY DISTRICT - Historic Sales Revenue" on page 19 for the 2006 COP and page 30 for the 2015 Refunding of the Official Statement. (iii) "TRUCKEE DONNER PUBLIC UTILITY DISTRICT - Largest Customers" on page 20 for the 2006 COP and page 32 for the 2015 Refunding of the Official Statement. (iv) "TRUCKEE DONNER PUBLIC UTILITY DISTRICT - Historic Operating Results of Debt Service Coverage" on page 26 for the 2006 COP and page 42 for 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% 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% TRUCKEE DONNER PUBLIC UTILTIY DISTRICT Largest Water Customers-Fiscal Year 2015 Customer Water Usage (1) Annual Payments TAHOE MOUNTAIN CLUB (Old Greenwood&Gray's Grossing Golf Courses) 141,937,514 $137,430 COYOTE MOON GOLF COURSE 57,625,883 42,824 TRUCKEE DONNER RECREATION AND PARK DISTRICT 20,542,951 47,749 TAHOE DONNER ASSOCIATION 18,416,559 75,266 TAHOE TRUCKEE UNIFIED SCHOOL DISTRICT 14,793,648 37,607 VILLAGE GREEN MOBILE HOME PARK 11,729,003 25,641 TAHOE FOREST HOSPITAL 9,494,725 36,434 BOB GALES(Coachland Mobile Home Park) 8,841,000 19,533 DONNER CREEK MOBILE HOME PARK 7,813,356 13,812 OREGON INVESTORS(Truckee Pines Apartments) 7,529,487 30,706 TOP TEN TOTAL 298,724,126 $467,001 TOTAL SYSTEM 1,380,949,540 $10,313,592.78 21.63% 4.53% ��Gallons TRUCKEE DONNER PUBLIC UTILITY DISTRICT Historic Water Operating Results&Debt Service Coverage Fiscal Year Ending December 31 Revenues 2011 2012 2013 2014 2015 Sales to Customers $9,946,771 $9,793,994 $9,870,531 $10,102,819 $10,313,593 Standby Fees 161,040 166,135 157,440 150,390 145,840 Investment Income(1) 18,363 33,783 10,506 87,312 85,741 Facilites Fees(2) 152,918 207,678 264,199 417,873 386,647 Connection Fees(2)(3) 136,306 68,996 90,856 166,328 139,771 Meter Surcharge 746,759 741,209 703,982 0 0 Other(4) 375,935 326,847 328,553 403,847 329,644 Total Revenues $11,538,092 $11,338,641 $11,426,067 $11,328,570 $11,401,236 Operating&Maintenance Expenses Operations and Maintenance $4,433,706 $4,806,563 $4,802,929 $4,508,867 $4,422,049 Administration and General 1,657,418 1,761,614 1,829,741 2,114,506 2,088,100 Customer Services 794,225 721,334 730,605 813,864 725,096 Pension Expense-GASB 68 0 0 0 0 226,149 Total Operations&Maintenance Expenses $6,885,350 $7,289,510 $7,363,275 $7,437,237 7,461,394 Net Revenues $4,652,743 $4,049,131 $4,062,792 $3,891,333 $3,939,842 Parity Debt Service(5) 2006 Installment Purchase Agreement $1,888,089 $1,894,889 $1,895,089 $1,898,889 1,812,849 DWR Proposition 55 Loan $306,481 $306,481 $306,481 $306,481 $306,481 Interest on Parity Debt Service Reserve Funds (64,196) (8,103) (6,130) (5,283) (5,485) Total Parity Debt Service $2,130,374 $2,193,266 $2,195,440 $2,200,087 $2,113,845 Parity Debt Service Coverage 2.18 1.85 1.85 1.77 1.86 Net Revenues Remaining for Subordinate Debt $2,522,369 $1,855,865 $1,867,352 $1,691,246 $1,825,997 Service Subordinate Debt Service(5)(6) $316,944 $316,944 $316,944 $316,944 $316,944 Parity and Subordinate Debt Service Coverage(7) 1.90 1.61 1.62 1.55 1.62 Balance Available for Capital Projects or Other $2,205,425 $1,538,921 $1,550,408 $1,374,302 $1,509,053 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. (7) Subordinate Debt Service,Parity and Subordinate Debt Service Coverage,and Balance Available for Capital Projects have been amended for 2006.