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Home My WebLink About13 Attachment 2, Debt Service Coverage DraftHE 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 Unaudited Actuals Actuals Actuals Actuals Actuals Projections Projections Projections Projections Projections Revenues Ili Sales to Customers 22,660,258 23,045,437 24,239,706 25,451,966 26,884,635 29,379,500 31,445,600 32,389,000 33,361,000 34,362,000 Standby Fees 21,530 20,040 19,260 18,670 17,450 17,000 16,600 16,000 16,000 15,000 Investment Income 185,873 372,985 483,561 248,335 92,961 98,000 109,000 115,000 120,000 130,000 Facilities Fees 175,169 174,785 297,375 342,364 270,217 200,000 200,000 200,000 200,000 200,000 Connection Fees 290,987 730,297 559,061 242,988 945,760 500,000 500,000 500,000 500,000 500,000 Other (excludes restricted cap & trade revenues) 3,884,960 2,248,478 2,045,517 2,556,279 2,140,865 2,257,100 2,457,000 2,506,000 2,556,000 2,607,000 Total Revenues 27,218,777 26,592,022 27,644,481 28,860,603 30,351,888 32,451,600 34,728,200 35,726,000 36,753,000 37,814,000 Operating and Maintenance Expenses Ill Purchased power 11,327,300 11,001,858 10,754,898 11,285,537 13,560,417 13,509,000 13,982,000 14,401,000 14,833,000 15,278,000 Operations and Maintenance 4,997,232 4,868,872 5,197,190 6,748,580 7,947,145 8,304,000 8,597,100 8,855,000 9,121,000 9,395,000 Administration and General 2,522,038 2,976,190 3,362,107 3,635,774 3,757,511 3,926,200 4,064,800 4,187,000 4,313,000 4,442,000 Customer Service 1,661,708 1,389,855 1,779,030 1,340,108 1,454,859 1,520,200 1,573,900 1,621,000 1,670,000 1,720,000 Pension Expense 1,361,766 - - - - - - - - - OPEBExpense 238,410 - - - - - - - - - Total Operating and Maintenance Expenses 22,108,454 20,236,775 21,093,225 23,009,999 26,719,932 27,259,400 28,217,800 29,064,000 29,937,000 30,835,000 Net System Revenues Net Revenues 5,110,323 6,355,247 6,551,256 5,850,604 3,631,956 Parity Debt Service and Coverage (Z) = i Pension Obligation Bonds 467,590 1,429,464 1,000,176 1,035,094 1,071,555 Interest on Parity Debt Service Reserve (11) (3,969) (5,418) (1,127) (24) 2022 Electric Revenue COPS (3)* Total Parity Debt Service 467,579 1,425,495 994,758 1,033,967 1,071,531 Parity Debt Service Coverage 10.93 4.46 6.59 5.66 3.39 5,192,200 6,510,400 6,662,000 6,816,000 6,979,000 W 545,657 - - 108,432 407,600 407,350 406,850 406,100 654,088 407,600 407,350 406,850 406,100 7.94 15.97 16.35 16.75 17.19 Subordinate Debt Service and Coverage Net Revenues Available for Subordinate Debt Service 4,642,744 4,929,753 5,556,497 6,637 2,560,425 4,538,112 6,102,800 6,254,650 6,409,150 6,572,900 Subordiante Debt Servicce - Broadband Lease (4) 13,333 13,333 - 26,666 13,333 13,335 - - - Intercompany Water funding of Parity Debt Service (5) (307,420) (336,960) (340,293) (361,860) (384,430) (338,263) Total Net Subordiante Debt Service (294,087) (323,627) (340,293) (335,194) (371,097) (324,928) - - - - Parity and Subordinate Debt Service Coverage 29.46 5.77 10.01 8.37 5.19 15.77 15.97 16.35 16.75 17.19 Balance Available for Capital Projects or Other Purposes 4,936,831 5,253,380 5,896,790 5,151,831 2,931,522 4,863,040 6,102,800 6,254,650 6,409,150 6,572,900 Source/Notes * Preliminary, subject to change. (1) Actual Revenues and Expenses from last 5 years of audits and District. Unaudited acutals and Projected Revenues and Expenses provided by District. (2) Parity and subordinate debt service from District. (3) Preliminary debt service (4) Broadband lease (5) Intercompany, Water Utihity portion of Pension Obligation Bonds debt service Attachment 2 - Debt Service Coverage (DSC) - Page 1 of 2 FYE Revenues(l) Sales to Customers Standby Fees Investment Income Facilities Fees Connection Fees Other Total Revenues Operating and Maintenance Expenses ill Operations and Maintenance Administration and General Customer Service Pension Expense OPEB Expense Total Operating and Maintenance Expenses Net System Revenues Net Revenues Parity Debt Service and Coverage (2) 2006 Installment Purchase Agreement DWR Proposition 55 Loan Interest on Parity Debt Service Reserve 2022 Water Revenue COPS (3)* Total Parity Debt Service* Parity Debt Service Coverage* Subordinate Debt Service and Coverage Net Revenues Available for Subordinate Debt Service* Subordinate Debt Service (Z)* Parity and Subordinate Debt Service Coverage* Balance Available for Capital Projects or Other Purposes otes 2017 2018 2019 2020 Actuals Actuals Actuals Actuals 11, 801, 888 12,440,975 12, 789, 947 13,536,058 133,440 123,280 118,320 114,800 84,678 113,664 201,306 117,113 338,461 539,946 840,685 814,776 144,722 245,393 169,920 167,517 405,521 306,260 299,159 355,999 12, 908, 710 13, 769, 518 14, 419, 337 15,106, 263 2021 2022 2023 2024 2025 2026 Unaudited Actuals Projections Projections Projections Projections Projections 14,950,899 15,987,500 17,352,800 18,828,000 20,240,000 20,948,000 106,680 104,700 102,600 100,000 98,000 96,000 40,042 14,000 22,000 32,000 45,000 50,000 865,892 400,000 400,000 400,000 400,000 400,000 314,442 15 0, 000 15 0, 000 150,000 150,000 150,000 361,831 341,600 328,300 330,000 335,000 340,000 4,835,623 2,231,453 640,793 907,844 158,940 5,409,637 2,489,625 762,962 0 0 5,779,099 2,884,293 888,927 0 0 5,821,270 3,036,681 740,606 0 0 5,789,5 3,145,9 _ 800,9 8,774,653 8,662,224 9,552,319 9,598,557 9,736,4 W 4,134,057 5,107,294 4,867,018 5,507,706 6,903,3 r - JO 1,721,629 1,717,072 1,720,600 1,721,471 1,704,8 306,481 306,481 306,481 306,481 153,2 -4,301 -7,436 -9,287 -4,166 -1,0 0 0 0 0 2,023,809 2,016,117 2,017,794 2,023,786 1,857,0 2.04 2.53 2.41 2.72 3. 16,997,800 18,355,700 19,840,000 21,268,000 21,984,000 6,799,500 7,213,100 7,429,000 7,652,000 7,882,000 3,480,500 3,692,100 3,803,000 3,917,000 4,035,000 964,800 1,023, 500 1,054,000 1,086,000 1,119,000 11,244,800 11,928, 700 12,286,000 12,655,000 13,036,000 5,753,000 6,427,000 7,554,000 8,613,000 8,948,000 Aff - 1,033,938 1,033, 738 1,032,538 1,035,338 1,031,938 0 0 0 0 0 -100 -100 -100 -100 -100 261,807 980,625 978,125 980,125 981,375 1,295,645 2,014,263 2,010,563 2,015,363 2,013,213 4.44 3.19 3.76 4.27 4.44 2,110,248 3,091,177 2,849,224 3,483,920 5,046,301 4,457,355 4,412,738 5,543,438 6,597,638 6,934,788 624,364 336,960 340,293 361,860 384,430 338,263 - - - - 1.56 2.17 2.06 2.31 3.08 3.52 3.19 3.76 4.27 4.44 1,485,884 2,754,217 2,508,931 3,122,060 4,661,871 4,119,092 4,412,738 5,543,438 6,597,638 6,934,788 * Preliminary, subject to change. (1) Actual Revenues and Expenses from last 5 years of audits and continuing disclosure annual reports. Unaudited acutals and Projected Revenues and Expenses provided by District. (2) Parity and subordinate debt service from continuing disclosure annual reports and District; with addition of intercompany Water portion of pension obiligation bonds sidefund (3) Preliminary debt service Attachment 2 - Debt Service Coverage (DSC) - Page 2 of 2