Memorandum. May 12, 2017
|
|
- Randell Atkinson
- 5 years ago
- Views:
Transcription
1 Memorandum May 12, 2017 TO: Ed Tabor, Programs & Incentives Manager Robert Ault, Business & Community Development Division Manager FROM: Ami Keiffer, Regional Project Manager Rich Rodriguez, Finance Officer SUBJ: Funding Opportunity of $2,000,000 Safe Drinking Water Revolving Loan Program for City of LaPine, Water System Improvements, No Please accept this memorandum for the Oregon Infrastructure Finance Authority (IFA) for funding assistance. Business Oregon s (statutorily and by rule referred to as Oregon Business Development Department) staff administers the IFA. This memorandum will provide an application review, findings and analysis, and staff s recommendation for requested action. There may also be post approval follow-up instructions for staff. BACKGROUND Applicant: City of LaPine; located in southern Deschutes County. LaPine has a population of 1,670 and is considered rural and distressed by ACS study. Funding Request: Loan Project Type: Construction Project Background: The city has identified several water system improvements to meet current and long-term water system needs. City does not have the required water system redundancy that is recommended by the Oregon Health Authority Drinking Water Services (DWS) A 2016 study evaluated the system and recommended improvements. The water system upgrades will: Improve water supply, storage, circulation, and redundancies Upgrade distribution system quality, pressure, and fire flow capacities in several key areas of the city Provide service to an additional 275 connections inside the city limits at Cagle and Glenwood areas These additional connections, located in the Cagle and Glenwood areas, currently utilize private shallow groundwater wells in an area with septic tank drain fields. Nitrate contamination is a
2 regulatory agency concern, which would be addressed by the project. Overall, the proposed water system improvements will provide a much improved and more reliable water system that will eliminate nitrate concerns for 275 residential connections and serve the city of LaPine for many years. Project Description: The Proposed improvements to the city of LaPine s water system focus on infrastructure needs to properly serve the entire city, while also adding to the city s water system. A number of improvements have been identified to enhance the capacity and reliability of the system. The city proposes to construct a new well and pump station, new transmission line, new 500,000 gallon storage reservoir, and distribution system improvements to enhance water transmission throughout the existing system and extend service in the Cagle and Glenwood Acres areas. The distribution improvements will provide looping for dead-end lines while overall improving water quality. Work Plan: This project is receiving funding from USDA for pre-construction work. Therefore, construction phase of this project will begin after all land surveys and reports, acquisition, and design/engineering is complete. Bidding and awarding a contract for this project is expected to being in September 2018, with construction work beginning in March 2019 and completion sometime in December Public Involvement Statement: The city has engaged the public since 2016 about updates to the system and the potential of fee increases. They are continuing their outreach efforts while the design and engineering phase of this project continues, through December FINDINGS AND ANALYSIS This project helps implement the following goals and objectives: ORS 285A.213, this division of OAR governs the administration of the moneys awarded through this Safe Drinking Water Revolving Loan Fund by the Oregon Business Development Department through its Infrastructure Finance Authority in cooperation with the Oregon Health Authority (OHA) of the Oregon Department of Human Services, but not activities of OHA itself. Program Findings & Compliance 1. Applicant eligibility: As referenced in OAR , all community water systems and nonprofit non-community water systems are eligible to apply for financing except those determined to be ineligible by the department because of prior nonperformance. 2. Project compliance: Nitrates 3. Project priority: 50 on Oregon Health Authority, Project Priority List. Received 15 points for Health Risks (40 pts possible), 10 points for Compliance (30 pts possible), 0 points for Drinking Water Source Protection (15 pts possible), 5 points for Community Affordability (15 pts possible), 10 points for Cost Effectiveness (10 pts possible), and 10 points for Consolidation or Partnership of Two or More Systems (20 pts possible). 4. This is a traditional project; no waivers are requested. Page 2
3 5. The facts cited above indicate this project is found to be compliant with applicable Department policies, Rules and Statutes. 6. The programmatic and financial sections are found to be compliant with applicable Department policies, Rules and Statutes. Financial Findings & Compliance General Fund summary: The below table shows a performance review of the Applicant s General Fund for the last three audited fiscal years ending 30 June 2016 and fiscal year 2017 budget. General Fund current FY Performance Review audited audited audited budgeted FY Ending June 30th Beginning Fund Balance 436, , , ,239 Revenues Property Taxes 234, , , ,239 Other Operating Revenues 247, , , ,500 Operating Revenues 482, , , ,739 Interest and Miscellaneous 4,558 27,272 12,621 7,500 Other Non-Operating Revenues 41,361 70,828 86, ,500 Total Non-Operating Revenues 45,919 98,100 98, ,000 Total Revenues 528, , , ,739 Expenditures Personal Services 99,889 61,365 71,010 72,751 Materials & Services 232, , , ,227 Total Operating Expenses 332, , , ,978 Net Operating Income 149, , , ,761 Capital Outlay ,000 Debt Service 44,208 43,608 43,008 45,000 Total Expenses 376, , , ,978 Net Revenues 151, , , ,761 Net Transfers/Adjustments (39,000) (334,000) (349,000) (427,000) Ending Fund Balance 548, , , ,000 In FYE 2015 the city changed their auditor, which may account for the changes in operating expenditures from the prior year, there was no information regarding this in the management discussion and analysis (MD&A) in the audit. The General Fund transfers out in FYE 2015 and 2016 reflect transfers into the Street Fund, the city s second largest governmental fund by expenditures. Existing obligations and risks The Applicant has debt service requirements as of their last audit, see following table. Page 3
4 Loan Source Summary of Outstanding Debt Obligations June 30, 2016 Balance Annual Debt Service Payment Source Maturity Net Direct Debt LTGO Bonds - City Hall Certificates of Participation $435,000 $42,270 General Fund 2031 Capital leases $9,082 $3,361 General Fund 2020 Net Direct Debt $444,082 $45,631 Self-Supporting Debt Revenue Bonds Water - Refunded USDA $2,420,000 $193,068 Water Revenue Fund 2031 Deschutes County Note - Special Sewer $903,526 $0 System Development Charges 2054 Self-Supporting Debt $3,323,526 $193,068 Gross Bonded Debt $3,767,608 $238,699 The Deschutes County Note Special Sewer obligation financed a sewer expansion, this has no defined payment schedule. Accordingly, annual debt service is zero. In FYE 2016 the city refunded a USDA water bond maturing in 2031, reducing the interest rate from 4.5% to 2.4%. The refunding is indicative the city actively manages its debt portfolio, a mitigate to credit risk. Repayment source The table below shows historic revenue from the Applicant s Water Fund for the last three audited fiscal years ending 30 June 2016 and fiscal year 2017 budget. Page 4
5 Water Fund current FY Performance Review audited audited audited budgeted FY Ending June 30th Beginning Fund Balance 1,659, , , ,066 Revenues Charges for Services 581, , , ,000 Other Operating Revenues 0 20,260 9,033 18,500 Operating Revenues 581, , , ,500 Interest and Miscellaneous 8, ,500 Other Non-Operating Revenues 0 7,405 13,000 0 Total Non-Operating Revenues 8,307 8,214 13,777 10,500 Total Revenues 590, , , ,000 Expenditures Personal Services 134, , , ,418 Materials & Services 144, , , ,648 Total Operating Expenses 278, , , ,066 Net Operating Income 303, , , ,434 Capital Outlay 51,924 48, ,000 Debt Service 193, ,082 2,609, ,000 Total Expenses 523, ,995 2,950, ,066 Net Revenues 66,554 75,650 (2,366,721) 6,934 Net Transfers/Adjustments (821,176) (212,000) 2,040,000 (215,000) Ending Fund Balance 905, , , ,000 During FYE 2016 revenue in the city s Water Fund increased to $584,035 (or +1%) from the prior year while operating expenditures grew to $341,679 (or +31%), information about these changes were in the MD&A. The audit presented expenditures differently in FYE 2016 from the prior year, providing only a single aggregate amount. The figures shown above for FYE 2016 for personal services and materials and services were derived from the prior two years average ratio for these accounts. On May 13, 2015, the city passed Resolution establishing annual increases of water rates by three percent (3%). Establishing an annual incremental rate increase is indicative of sound financial management. As noted earlier, in FY 2016 the city refunded a USDA Water Bond. This accounts for the increase in debt service from the prior year as the old debt was refunded and reflects a corresponding receipt of funds increasing the net transfers / adjustments line. In the two most recent fiscal year ends, the city has transferred $200,000+ out of the Water Fund while transferring into Reserve Fund 26 for future Water and Sewer purposes. These transfers are indicative of prudent fiscal management. Page 5
6 Debt service analysis Net Revenues for Debt Coverage: The below table reflects the Projected Net Revenues for the Applicant s Water Fund based on the Applicant s application. Summary of Revenues, Expenditures, and Debt Service Coverage PRO FORMA Current FY Projected Year (ending June 30th) Beginning Fund Balance 504, , , ,026 1,141,220 1,313,811 Operating Revenues Water System Revenues 550, , , , , ,162 Backflow Testing, Source testing, etc. 16,000 16,500 17,000 17,500 18,000 18,514 Miscellaneous income 10,500 10,800 11,100 11,400 11,700 12,008 Total Operating Revenues 576, , , , ,300 1,017,685 Operating Expenses Personal Services 170, , , , , ,081 Materials & Services 152, , , , , ,758 Other Operating Expenses Total Operating Expenses 322, , , , , ,839 Debt Service Funds Avail for Debt Coverage 253, , , , , ,846 Existing USDA , , , , , ,068 Proposed USDA , , , ,641 Business Oregon Proposed Loan ,800 40,700 Total Debt Service 193, , , , , ,409 Debt Service Coverage Ratio Other Activities Cash Avail After Debt Service 60,532 68, , , , ,437 Loan Proceeds / Drawdowns - Business Oregon 0 666, , , Loan Proceeds / Drawdowns - USDA 0 2,772,300 2,772,300 2,772, Capital Outlay (OUT) (25,000) (3,463,967) (3,463,967) (3,463,967) (25,000) (25,000) System Replacement Reserves 10,000 10,000 10,000 10,000 10,000 10,000 Other Non-Operating Activity Net Other Activity (15,000) (15,000) (15,000) (15,000) (15,000) (15,000) Net Transfers IN (OUT) (15,000) Adjustments Net Transfers & Adjustments (15,000) Ending Fund Balance 534, , ,026 1,141,220 1,313,811 1,470,248 Avg. Rev's per EDU (calc) $51.73 $53.29 $68.88 $58.67 $60.10 $61.57 Rate per EDU (app) $41.00 $41.00 $41.00 $41.00 $55.00 $55.00 EDU's (app) ,111 1,336 1,336 1,336 Connections (app) Operating revenue and expenditures are per the provided Applicant s application. On debt service; the existing USDA 2003 line is per the schedule in the city s most recent audit, the proposed USDA line is based on a one-stop with the city and recent communications with the USDA on an anticipated loan, grant, and interest rates for the city, while the Business Oregon Proposed Loan line is based on the proposed award herein (see Staff s Recommendation section, below). For simplification loan drawdowns and capital outlays are distributed over the span of the project. The pro forma reflects more than adequate net revenues to provide the required 1.20 coverage ratio. Page 6
7 Underwriting standards The Applicant meets 14 of the 17 applicable indicators in the attached Financial Summary. The following indicators are not met: Net Direct Debt Service to General Fund Revenues (mry); [7.29% > 5% standard] Number of Connections (mry); [610 < 1,500 standard] Revenue Debt Per Capita (mry); [$1,445 > $650 standard] Applicant s bond rating The city s Certificates of Participation (COPS) were issued to the public as part of the Local Oregon Capital Assets Program COPS 2011A series. This debt is currently unrated. Financial statement of program Safe Drinking Water Revolving Loan Fund (SDWRLF) 1. Available SDWRLF balance $60,045, Remaining balance, if the project is approved, is $58,045,163. STAFF S RECOMMENDATION According to department policy, Statutes, and Rules the Applicant does qualify for the recommended financing. The programmatic and financial sections of the Eligibility Checklist have been completed and the application has been determined per current ORS to be eligible for funding. Under the SDWRLF program the Applicant has been determined to be a Disadvantaged Community and qualifies for grants/forgivable loan, reduced interest rate and an extended repayment term. A Disadvantaged Community is determined by the following criteria: 1. Actual water rate is higher than the affordability rate [rate $44.00 > affordability $32.13]. 2. Community Median Household Income (MHI) is less than Statewide MHI [community MHI $30,842 < Statewide $51,243.] Financing is awarded in the amount of $2,000,000 which is distributed as follows: $1,050,000 SDWRLF Loan; 30-year term loan at a 1.00% interest rate as a Disadvantaged Community. $950,000 SDWRLF Forgivable Loan; comprised of o $200,000 All eligible projects up to 10% of Total Award not to exceed $250,000, additionally, o $250,000 For a Health and Compliance project up to 20% of Total Award not to exceed $250,000, additionally, o $500,000 All Disadvantaged Communities are eligible for up to 50% of Total Award not to exceed $500,000. The proposed loan will be structured in two phases. The first phase, construction phase, will accrue interest on actual funds disbursed, estimated first disbursement will be in September 1, All accrued interest during the construction phase (estimated to be $11,800) will be due prior to or with the first principal and interest payment. The interest rate will be set at 1.00% for this phase. Construction is scheduled for completion by 1 December Page 7
8 The second phase (Repayment Phase) will begin with constant annual payments of principal and interest sufficient to repay the outstanding principal balance, together with interest, within a 30- year period. The estimated first principal and interest payment due date is 1 December The loan can be prepaid in part or in full without penalty. The interest rate will be set at 1.00% for the repayment phase. The Repayment Phase Loan Summary table in the attachments summarizes the repayment phase of the proposed financing. Funding Recommendation and Conditions of Award Financial Conditions: Based upon the following analysis, the award recommended above will be subject to the Business Oregon s standard utility loan contract which will include but not be limited to the following conditions: A. Full Faith and Credit Pledge. The Recipient will be required to pledge its full faith and credit and taxing power within the limitations of Article XI, Sections 11 and 11 b, of the Oregon Constitution to pay the amounts due under the Financing Contract. The Financing Contract shall be payable from all legally available funds of the Recipient. B. Pledge of Net Revenues as Source of Repayment. The Recipient will be required to grant to the State a security interest in and irrevocably pledge its Net Revenues of the Recipient s Water System to pay all of the obligations owed by the Recipient to the State under the Financing Contract. C. Financial Covenants. The Recipient shall charge rates and fees in connection with the operation of the Water System which, when combined with other gross revenues, are adequate to generate Net Revenues each fiscal year at least equal to one hundred twenty (120%) percent of the annual debt service due in the fiscal year on the Loan, any outstanding senior lien obligations, and any outstanding Parity Obligations. D. Additional Award. This award is conditional upon the Recipient receiving an award from the USDA in the amount of approximately $8,316,900 which must be received before funds are disbursed. Recipient shall provide copy of award letter as evidence of award. E. Affordability Rate. If, at the Project Completion Date, the average monthly residential water rates for the water supplied by the Water System are not at or above the affordability rate of $32.13 per 7,500 gallons, the amount due under the Forgivable Loan will not be forgiven. Further, the Financing Contract shall, at Business Oregon s discretion and after notice to Recipient, be modified as follows: 1. Interest shall accrue at the rate of 2.27% per annum. 2. The annual payments shall be adjusted to an amount to fully amortize the then outstanding balance of each Loan by the 19th anniversary of the Repayment Commencement Date, on which date any amounts outstanding under each Loan shall be due and payable in full. F. Parity. This Business Oregon loan will only be junior to a USDA bond to be issued and associated with this project. No other parity or senior debt is permitted without the advance notice of, and approval by, Business Oregon. Page 8
9 Recommend Approval: Regional Development Officer Date: Public Finance Officer Date: Program & Policy Coordinator Date: Budget recommends that this award come from: Program Funds Senior Finance Accountant Date: RECOMMENDATION: We respectfully request your recommendation on the subject application. Approve project as submitted Approve project with the following modifications: Robert Ault, Business & Community Development Division Manager, Business Oregon Date IFA BOARD APPROVAL The IFA Board shall consider loans over $3,000,000, grants over $500,000 and Safe Drinking Water forgivable loans over $750,000 for approval. The Drinking Water Advisory Committee shall consider Safe Drinking Water projects over $6,000,000. This project exceeds the regular approval dollar amount. Infrastructure Finance Authority Board has discussed the proposed project and has concluded to approve the award Chris Cummings, Assistant Director of Economic Development, Business Oregon Board Meeting Date List of Attachments 1. Financial Summary 2. Board Action Request Memo Page 9
10 Attachments Type Award Amount Repayment Phase Loan Summary Forgivable Loan or Grant Amount Loan Principal Amount Interest Rate Amortized (in years) Est. Annual Payment* SDWRLF $2,000,000 $950,000 $1,050, % 30 $40,700 * Actual payment will likely be different. Payment rounded to nearest $100. Construction Period Interest is expected to be paid prior to or with the 1st scheduled P&I payment date. Funding Recommendation Project Activity Business Oregon Applicant's Other Funds Funds Funds USDA Totals Design/ Engineering , ,000 Storage 2,000, ,500 2,977,500 Transmission / Distribution - - 4,627,000 4,627,000 Water Source , ,400 Land, Easements, Rights-of-Way ,000 70,000 Other: Permits/Environmental/Legal , ,000 Other: Contingency , ,000 Total Project Costs 2,000,000-8,316,900 10,316,900 Proposed Work Plan Activity Start Date Finish Date Public Outreach and Education Program (ongoing) 1 Feb Dec 2018 Identify and Submit Funding Application 1 Oct Nov 2016 Environmental/Cultural Resource Reports, Land Acquisition De 1 Mar Dec 2017 Design Improvements 1 Apr Jun 2018 Bid and Award Construction Contract 1 Sep Nov 2018 Construct System Improvements 1 Mar Oct 2020 Close Out Project 1 Nov Dec 2020 Page 10
11 Source of Business Oregon Funds Safe Drinking Water Revolving Loan Fund Amount SDWRLF Loan - Public, tax exempt, Principle Forgiveness $950,000 SDWRLF Loan - Public, tax exempt $1,050,000 Total $2,000,000 Customer Name: System's Ten Largest Customers Annual Consumption % of Total Annual Consumption for System Annual Water Revenue Received by System % of Total Annual Revenue received by System Rosland Elementary 2,956, $14, Prairie House 2,429, $14, La Pine Park and Rec Dist. 2,413, $1, Wickiup Jct. LLC 2,233, $8, Best Western 1,693, $7, Midstate Electric Co-op 1,339, $8, Glenwood Acres Homeowners Association 1,255, $8, Altra LLC 1,173, $5, Gordy's Truck Stop 1,137, $8, La Pine Laundromat 1,086, $4, Total 17,717, $ 81, Page 11
Memorandum. Background. March 1, 2018
Memorandum March 1, 2018 TO: THRU: FROM: SUBJ: Chris Cummings, Assistant Director, Economic Development Ed Tabor, Programs & Incentives Manager Shanna Bailey, Regional Project Manager Dennis Knight, Finance
More informationMemorandum. Background. November 2, 2018
Memorandum November 2, 2018 TO: THRU: FROM: SUBJ: Chris Cummings, Assistant Director, Economic Development Ed Tabor, Programs & Incentives Manager Shanna Bailey, Regional Project Manager Rich Rodriguez,
More informationFunding Recommendation: IFA Funds Totals
Date: March 31, 2016 To From: Robert Ault, Program Services Division Manager Infrastructure Finance Authority Mary Baker, Regional Coordinator Infrastructure Finance Authority Janna Graham, Public Finance
More informationMemorandum. Background. February 1, 2019
Memorandum February 1, 2019 TO: THRU: FROM: SUBJ: Chris Cummings, Assistant Director, Economic Development Ed Tabor, Programs & Incentives Manager Tawni Bean, Regional Project Manager Dennis Knight, Finance
More informationApplicant: The city of Seaside is located in Clatsop County. The city has a 2017 population of 6,620 and is rural and distressed.
Memorandum November 6, 2018 TO: THRU: FROM: SUBJ: Chris Cummings, Assistant Director, Economic Development Ed Tabor, Programs & Incentives Manager Becky Bryant, Regional Project Manager Rich Rodriguez,
More informationCROMWELL FIRE DISTRICT
CROMWELL, CONNECTICUT BASIC FINANCIAL STATEMENTS AS OF TOGETHER WITH INDEPENDENT AUDITORS REPORT REQUIRED SUPPLEMENTARY INFORMATION, OTHER SUPPLEMENTARY INFORMATION, AND GOVERNMENTAL AUDITING STANDARDS
More informationGEORGIA RESERVOIR & WATER SUPPLY FUND PROGRAM POLICIES
GEORGIA RESERVOIR & WATER SUPPLY FUND PROGRAM POLICIES The purpose of the Georgia Reservoir and Water Supply Fund (the Fund) is to assist local governments with their efforts to improve water supply in
More informationKentucky Infrastructure Authority Projects for November 2017 Capital Projects Meeting
Kentucky Infrastructure Authority Projects for November 2017 Capital Projects Meeting Fund A Loan Loan # Borrower Loan Amount County A15-002 Regional Water Resource Agency (Increase) $ 8,007,500 Daviess
More informationJanuary Income Report
January Income Report *All budget comparisons reference the 2014 15 Revised Budget adopted by the Board on January 20, 2015 Cash receipts = $955,510 Annual budget for Water Capacity fees is $291,000. Water
More informationPART VII. PENNSYLVANIA INFRASTRUCTURE INVESTMENT AUTHORITY
PART VII. PENNSYLVANIA INFRASTRUCTURE INVESTMENT AUTHORITY Chap. Sec. 961. PENNSYLVANIA INFRASTRUCTURE INVESTMENT AUTHORITY GUIDELINES... 961.1 962. [Reserved]... 962.1 963. PENNSYLVANIA INFRASTRUCTURE
More informationDEBT SERVICE REQUIREMENTS
DEBT SERVICE REQUIREMENTS BACKGROUND In North Carolina, an agency known as the Local Government Commission, the LGC, oversees local government bonded debt. The LGC must approve all bonded debt of local
More informationState Revolving Fund (SRF) Drinking Water Program Application Instructions for Private Borrowers
State Revolving Fund (SRF) Drinking Water Program Application Instructions for Private Borrowers These instructions have been designed to help you fill out the State Revolving Fund - Drinking Water Program
More informationCITY OF ANAHEIM WATER UTILITY FUND. Financial Statements. June 30, 2014 and (With Independent Auditors Report Thereon)
Financial Statements (With Independent Auditors Report Thereon) Table of Contents Page Independent Auditors Report 1 Management s Discussion and Analysis (Unaudited) 3 Financial Statements: Statements
More informationWakulla County. Annual Debt Report. For. FY (unaudited) Prepared by the Wakulla County Clerk of Court, Finance Department
Wakulla County Annual Debt Report For FY 2013-2014 (unaudited) Prepared by the Wakulla County Clerk of Court, Finance Department 1 Board of County Commissioners and Citizens of Wakulla County, As your
More informationSubmitted to EPA September 20, 2016
Submitted to EPA September 20, 2016 List of Abbreviations... 4 Introduction... 5 A. PROGRESS TOWARD SHORT-TERM GOALS... 6 B. PROGRESS TOWARD LONG-TERM GOALS... 7 C. DRINKING WATER STATE REVOLVING FUND
More informationTOWN OF ORO VALLEY WATER UTILITY COMMISSION WATER RATES ANALYSIS REPORT OCTOBER 7, 2009
TOWN OF ORO VALLEY WATER UTILITY COMMISSION WATER RATES ANALYSIS REPORT OCTOBER 7, 2009 EXECUTIVE SUMMARY The functions and duties of the Oro Valley Water Utility Commission include reviewing and developing
More informationROCK RIVER WATER RECLAMATION DISTRICT ROCKFORD, ILLINOIS FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT. For the Year Ended April 30, 2016
FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORT For the Year Ended April 30, 2016 TABLE OF CONTENTS Page(s) INDEPENDENT AUDITOR S REPORT... 1-3 GENERAL PURPOSE EXTERNAL FINANCIAL STATEMENTS Management
More informationKirkwood Meadows Public Utility District Finance Committee REGULAR MEETING NOTICE
Kirkwood Meadows Public Utility District Finance Committee REGULAR MEETING NOTICE NOTICE IS HEREBY GIVEN that the Finance Committee of the Kirkwood Meadows Public Utility District has called a Special
More informationTHE RICHLAND ELECTRIC COOPERATIVE REVOLVING LOAN FUND MANUAL
THE RICHLAND ELECTRIC COOPERATIVE REVOLVING LOAN FUND MANUAL The Rural Business Enterprise Grant (RBEG) Program, administered by the Wisconsin USDA Rural Development, provided the Richland Electric Cooperative
More informationAlabama Water Pollution Control Authority
Alabama Water Pollution Control Authority COMPONENT UNIT FINANCIAL STATEMENTS For the Year Ended September 30, 2018 Table of Contents September 30, 2018 REPORT Independent Auditors Report 1 FINANCIAL STATEMENTS
More informationCITY OF LAFAYETTE, OREGON ANNUAL FINANCIAL REPORT Year Ended June 30, 2018
ANNUAL FINANCIAL REPORT Year Ended June 30, 2018 CITY OFFICIALS JUNE 30, 2018 Mayor Chris Pagella Council Members Marie Sproul, President Chris Harper David Sword Stan Kosmicki G. Douglas Cook Wade Witherspoon
More informationWater Rate Study FINAL January 31, 2018
Water Rate Study FINAL January 31, 2018 1889 Alcatraz Avenue Berkeley, CA 94703 Tel: 510 653 3399 www.bartlewells.com January 31, 2018 Joshua Basin Water District P.O. Box 675 / 61750 Chollita Road Joshua
More informationMontgomery County Emergency Services District No. 8 For the Year Ended September 30, 2014
ANNUAL FINANCIAL REPORT of the Montgomery County Emergency Services District No. 8 For the Year Ended September 30, 2014 (This page intentionally left blank.) Montgomery County Emergency Services District
More informationJune Income Report. Soquel Creek Water District June Income & Investment Report Cash Receipts Report. Cash receipts = $2,565,942
June Income Report *All budget comparisons reference the 2014 15 Revised Budget adopted by the Board on January 20, 2015 Cash receipts = $2,565,942 Annual budget for Water Capacity fees is $291,000. Water
More informationCapital Region Water. Water and Wastewater Rate Study Report. November 22, Capital Region Water Water and Wastewater Rate Study
Capital Region Water Water and Wastewater Rate Study Report November 22, 2017 Capital Region Water Water and Wastewater Rate Study TABLE OF CONTENTS 1. INTRODUCTION...1 1.1 RATE STUDY SCOPE AND OBJECTIVES...1
More informationHACKBERRY HIDDEN COVE PUBLIC IMPROVEMENT DISTRICT NO. 2 SERVICE AND ASSESSMENT PLAN (UTILITY IMPROVEMENTS)
HACKBERRY HIDDEN COVE PUBLIC IMPROVEMENT DISTRICT NO. 2 SERVICE AND ASSESSMENT PLAN (UTILITY IMPROVEMENTS) SEPTEMBER 15, 2009 HACKBERRY HIDDEN COVE PUBLIC IMPROVEMENT DISTRICT NO. 2 SERVICE AND ASSESSMENT
More informationCorporate Accounting: Earnings and Distribution
Chapter 20 Corporate Accounting: Earnings and Distribution Net income of a corporation and corporate income taxes Cash dividends Stock dividends Stock splits Appropriations of retained earnings Retained
More informationPROGRAM GUIDELINES WSRLA Page 1 of 6 As of Jan 29, 2015
PROGRAM GUIDELINES WSRLA Page 1 of 6 WHAT: Drinking Water Assistance Fund: Water Supply Revolving Loan Account Program For WHAT: LOANS for Planning/Design and/or Construction (Supplements also available)
More informationCITY OF SIERRA MADRE SIERRA MADRE, CALIFORNIA. Basic Financial Statements and Required Supplementary Information with Independent Auditor s Report
CITY OF SIERRA MADRE SIERRA MADRE, CALIFORNIA Basic Financial Statements and Required Supplementary Information with Independent Auditor s Report June 30, 2006 Prepared by the City of Sierra Madre, California
More informationVillage of Baltimore Water & Wastewater Analysis. July 2018
Village of Baltimore Water & Wastewater Analysis July 2018 Table of Contents Introductory Summary... 1 Data... 1 Water Treatment Plant (WTP)... 1 Production... 2 Costs & Debts... 2 Wastewater Treatment
More informationCITY OF CROSSLAKE, MINNESOTA FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION YEAR ENDED DECEMBER 31, 2016
FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION YEAR ENDED TABLE OF CONTENTS INTRODUCTORY SECTION PRINCIPAL CITY OFFICIALS 1 FINANCIAL SECTION INDEPENDENT AUDITORS REPORTS 2 MANAGEMENT S DISCUSSION
More informationFiscal Year 2018 Project 1 Annual Budget
Fiscal Year 2018 Project 1 Annual Budget Table of Contents Table Page Summary 3 Summary of Costs Table 1 4 Treasury Related Expenses Table 2 5 Summary of Full Time Equivalent Table 3 6 Positions Cost-to-Cash
More informationCITY OF ANAHEIM WATER UTILITY FUND. Financial Statements. June 30, 2016 and (With Independent Auditors Report Thereon)
Financial Statements (With Independent Auditors Report Thereon) Table of Contents Page Independent Auditors Report 1 Management s Discussion and Analysis (Unaudited) 3 Financial Statements: Statement of
More informationExecutive Summary. July 17, 2015
Executive Summary July 17, 2015 The Revenue Estimating Conference adopted interest rates for use in the state budgeting process. The adopted interest rates take into consideration current benchmark rates
More informationMonthly Financial Report
AGENDA ITEM NO: 4.C.1 Monthly Financial Report with data through October 2017 (Unaudited) The data contained in this report has not been independently audited. Alameda Municipal Power Financial Report
More informationBig Walnut Local School District
Big Walnut Local School District Monthly Financial Report for the month ended September 30, 2012 Prepared By: Felicia Drummey Treasurer BIG WALNUT LOCAL SCHOOL DISTRICT SUMMARY OF YEAR-TO-DATE FINANCIAL
More informationU.S. Department of Housing and Urban Development Community Planning and Development
U.S. Department of Housing and Urban Development Community Planning and Development Special Attention of: Notice: CPD 97-03 All Secretary's Representatives All State/Area Coordinators Issued: March 27,
More informationAlabama Water Pollution Control Authority
Alabama Water Pollution Control Authority COMPONENT UNIT FINANCIAL STATEMENTS For the Year Ended September 30, 2014 Alabama Water Pollution Control Authority Table of Contents September 30, 2014 TAB: REPORT
More informationThe City of Sierra Madre
The City of Sierra Madre Comprehensive Water and Wastewater Cost of Service Study Report / December 24, 2018 24640 Jefferson Avenue Suite 207 Murrieta, CA 92562 Phone 951.698.0145 www.raftelis.com December
More informationCITY OF ROSEBURG, OREGON TABLE OF CONTENTS ENTERPRISE FUNDS
TABLE OF CONTENTS ENTERPRISE FUNDS Storm Drainage Fund... 121-124 Off Street Parking Fund... 125-126 Airport Fund... 127-131 Water Service Fund... 132-145 STORM DRAINAGE FUND CURRENT OPERATIONS This fund
More informationNALDRAFT SEPTEMBER2015 WASTEWATE
FI NALDRAFT SEPTEMBER2015 Cos tof S e r v i c e s S T UDY WATE R WASTEWATE R RE CY CL E DWATE R ST ORMWATE R E NVI RONME NT ALRE SOURCE S CITY OF OXNARD PUBLIC WORKS INTEGRATED MASTER PLAN COST OF SERVICE
More informationSANTA CRUZ COUNTY SANITATION DISTRICT A COMPONENT UNIT OF THE COUNTY OF SANTA CRUZ BASIC FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORTS
SANTA CRUZ COUNTY SANITATION DISTRICT A COMPONENT UNIT OF THE COUNTY OF SANTA CRUZ BASIC FINANCIAL STATEMENTS AND INDEPENDENT AUDITOR S REPORTS JUNE 30, 2017 SANTA CRUZ COUNTY SANITATION DISTRICT JUNE
More informationNEW MEXICO FINANCE AUTHORITY
NEW MEXICO FINANCE AUTHORITY PUBLIC PROJECT REVOLVING FUND LOAN MANAGEMENT POLICIES A. PURPOSE The statutory mission of New Mexico Finance Authority is to provide a necessary central mechanism to coordinate
More informationPULASKI COUNTY PUBLIC SERVICE AUTHORITY (A COMPONENT UNIT OF PULASKI COUNTY, VIRGINIA)
PULASKI COUNTY PUBLIC SERVICE AUTHORITY (A COMPONENT UNIT OF PULASKI COUNTY, VIRGINIA) FINANCIAL REPORT YEAR ENDED JUNE 30, 2017 Pulaski County Public Service Authority (A Component Unit of Pulaski County,
More informationFINANCIAL STATEMENTS. For the years ended June 30, 2013 and 2012
FINANCIAL STATEMENTS For the years ended June 30, 2013 and 2012 CONTENTS Page INDEPENDENT AUDITORS REPORT ON FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION 3-4 MANAGEMENT S DISCUSSION & ANALYSIS 5-10
More informationAUDITED FINANCIAL STATEMENT AND SUPPLEMENTARY INFORMATION CITY OF ST. MARYS, KANSAS. December 31, 2012
AUDITED FINANCIAL STATEMENT AND SUPPLEMENTARY INFORMATION December 31, 2012 Reese & Novelly, PA Certified Public Accountants St. Marys, Kansas Audited Financial Statement and Supplementary Information
More informationDrinking Water State Revolving Fund (SRF) Rulemaking FSAWWA 2015 Fall Conference Funding Infrastructure Improvements Workshop November 30, 2015
Drinking Water State Revolving Fund (SRF) Rulemaking FSAWWA 2015 Fall Conference Funding Infrastructure Improvements Workshop November 30, 2015 Shanin Speas Frost DWSRF Program Administrator Division of
More informationPUBLIC UTILITY DISTRICT NO. 1 OF SKAGIT COUNTY COMMISSIONERS MEETING. DRAFT AGENDA July 10, :30 PM
PLEDGE OF ALLEGIANCE PUBLIC UTILITY DISTRICT NO. 1 OF SKAGIT COUNTY COMMISSIONERS MEETING DRAFT AGENDA July 10, 2018 4:30 PM CONSENT AGENDA 1. Approval of Agenda 07/10/18 2. Approval of Minutes 06/26/18
More informationPOWAY UNIFIED SCHOOL DISTRICT
POWAY UNIFIED SCHOOL DISTRICT ADMINISTRATION REPORT FISCAL YEAR 2017/2018 IMPROVEMENT AREA C OF COMMUNITY FACILITIES DISTRICT NO. 6 June 29, 2017 PREPARED FOR: Poway Unified School District Planning Department
More informationCity of Bonney Lake Statement of Net Assets December 31, Governmental Activities
City of Bonney Lake Statement of Net Assets December 31, 2011 Primary Government Governmental Activities Business-type Activities ASSETS Cash and cash equivalents $ 18,652,693 $ 22,680,890 $ 41,333,583
More informationFINANCIAL STATEMENTS. June 30, 2017 and 2016
FINANCIAL STATEMENTS June 30, 2017 and 2016 CONTENTS Page INDEPENDENT AUDITORS' REPORT ON FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION 3-4 MANAGEMENT'S DISCUSSION AND ANALYSIS 5-11 FINANCIAL STATEMENTS
More informationVGFOA/SPIA Debt Management Workshop
VGFOA/SPIA Debt Management Workshop Kyle A. Laux, Senior Vice President Davenport & Company Public Finance June 15, 2017 901 East Cary Street Richmond, VA 23219 Phone: 804-697-2913 1. Choosing Debt Versus
More informationFunding Transportation Improvements
Funding Transportation Improvements Nick Anhut, Municipal Advisor Ehlers & Associates December 8, 2015 Introduction Transportation / Transit in Minnesota Funding Environment Financing Basics Authority
More informationMASTER BOND ORDINANCE NO
MASTER BOND ORDINANCE NO. 2015 01 COMPILED MASTER WATER BOND ORDINANCE (As adopted on October 7, 2015, and including amendments adopted on December 9, 2015, January 27, 2016 and August 10, 2016) COMPILED
More informationAlabama Water Pollution Control Authority
Alabama Water Pollution Control Authority COMPONENT UNIT FINANCIAL STATEMENTS For the Year Ended September 30, 2016 Alabama Water Pollution Control Authority Table of Contents September 30, 2016 TAB: REPORT
More informationAudited Financial Statements West Virginia Water Development Authority Year Ended June 30, 2017 Certified Public Accountants
Audited Financial Statements West Virginia Water Development Authority Year Ended June 30, 2017 Certified Public Accountants Audited Financial Statements WEST VIRGINIA WATER DEVELOPMENT AUTHORITY Year
More informationCITY OF NORTH LAS VEGAS, NEVADA DEBT MANAGEMENT POLICY IN ACCORDANCE WITH NRS (C)
CITY OF NORTH LAS VEGAS, NEVADA DEBT MANAGEMENT POLICY IN ACCORDANCE WITH NRS 350.013 1(C) JUNE 30, 2007 TABLE OF CONTENTS DEBT MANAGEMENT POLICY NRS 350.013 Subsection 1(c)... 1 Summary of Debt... 2 Affordability
More informationCITY OF PHILOMATH, OREGON ANNUAL FINANCIAL REPORT Year Ended June 30, 2012
ANNUAL FINANCIAL REPORT Year Ended June 30, 2012 CITY OFFICIALS JUNE 30, 2012 MAYOR Ken Schaudt P.O. Box 400 Philomath, Oregon 97370 COUNCIL MEMBERS Angie Baca Matthew Bierek P.O. Box 1644 2337 Applegate
More informationKNOX-CHAPMAN UTILITY DISTRICT OF KNOX COUNTY. Knoxville, Tennessee COMPREHENSIVE ANNUAL FINANCIAL REPORT
KNOX-CHAPMAN UTILITY DISTRICT OF KNOX COUNTY Knoxville, Tennessee COMPREHENSIVE ANNUAL FINANCIAL REPORT For the Years Ended February 28, 2014 and 2013 PREPARED BY: Carol Taylor, Finance Director KNOX-CHAPMAN
More informationFountain Valley Authority (A Component Unit of the City of Colorado Springs, Colorado)
(A Component Unit of the City of Colorado Springs, Colorado) Financial Statements and Report of Independent Certified Public Accountants (A Component Unit of the City of Colorado Springs, Colorado) Financial
More informationCITY OF MUSKEGO WATER PUBLIC UTILITY
Muskego, Wisconsin FINANCIAL STATEMENTS Including Independent Auditors' Report December 31, 2010 and 2009 TABLE OF CONTENTS December 31,2010 and 2009 Independent Auditors' Report 1 Financial Statements
More informationA. These rules and regulations are promulgated pursuant to the authority conferred by R.I. Gen. Laws
216-RICR-50-05-7 TITLE 216 DEPARTMENT OF HEALTH CHAPTER 50 ENVIRONMENTAL HEALTH SUBCHAPTER 05 - WATER QUALITY PART 7 Clean Water Infrastructure Plans 7.1 AUTHORITY A. These rules and regulations are promulgated
More informationJefferson County PUD No. 1 Narrative to Accompany Monthly Financial Statements For the Period Ending September 30, 2017
Jefferson County PUD No. 1 Narrative to Accompany Monthly Financial Statements For the Period Ending September 3, 217 Combined Income Statement Page 1 This report provides an overview of the revenues and
More informationExecutive Summary. Consolidation Feasibility Study CITY OF OTHELLO. and. Adams County Water District No.1. Basin View Water Association
CITY OF OTHELLO and Adams County Water District No.1 Basin View Water Association Bird Dog Family LTD Partnership II Highland Estates Water System Meadow Lane Water Association Othello Manor Water System
More informationOHIO WATER DEVELOPMENT AUTHORITY. Financial Statements. December 31, (With Independent Auditors Report Thereon)
OHIO WATER DEVELOPMENT AUTHORITY Financial Statements December 31, 2014 (With Independent Auditors Report Thereon) TABLE OF CONTENTS Independent Auditors Report... 1 Management s Discussion and Analysis...
More informationUTILITY RATE STUDY. Public Hearing
UTILITY RATE STUDY Public Hearing. Public January 23, 2018 Resources Management Group, Inc. Utility, Rate, Financial, and Management Consultants Rate Guiding Principles Recognized Revenues Should Be Sufficient
More informationANNUAL REPORT CITY OF NORTH LAS VEGAS, NEVADA FINANCIAL INFORMATION AND OPERATING DATA PURSUANT TO AMENDED SEC RULE 15C2-12 AS OF JUNE 30, 2006
CITY OF NORTH LAS VEGAS, NEVADA ANNUAL REPORT FINANCIAL INFORMATION AND OPERATING DATA PURSUANT TO AMENDED SEC RULE 15C2-12 AS OF JUNE 30, 2006 PREPARED BY: CITY OF NORTH LAS VEGAS, NEVADA 2200 Civic Center
More informationMay Ohio Water Development Authority Loan Application Instructions
May 2016 Ohio Water Development Authority Loan Application Instructions OWDA Fresh Water Loan Program Overview: The Ohio Water Development Authority (OWDA) offers local government agencies (LGAs) in Ohio
More informationSchedule of Revenues, Expenses, and Changes in Net Position (Income Statement) Page 4
M E M O R A N D U M EUGENE WATER & ELECTRIC BOARD TO: Commissioners Simpson, Helgeson, Manning, Mital and Brown FROM: Sue Fahey, Chief Financial Officer; Susan Eicher, Accounting & Treasury Supervisor
More informationCITY OF MONTE VISTA, COLORADO
FINANCIAL STATEMENTS TABLE OF CONTENTS Independent Auditor s Report Management s Discussion and Analysis a - c i - xi Basic Financial Statements Statement of Net Position 1 Statement of Activities 2 Balance
More informationRURAL FINANCE AUTHORITY STANDARD LOAN AGREEMENT AND NOTE for RFA LOAN PARTICIPATION PROGRAMS
RURAL FINANCE AUTHORITY STANDARD LOAN AGREEMENT AND NOTE for RFA LOAN PARTICIPATION PROGRAMS Lender: Lender Loan #: Lender Address: Borrowers: 1.1 PARTIES. In this Agreement, the words I, my, and me refer
More informationCity of Portland, Oregon $21,825,000 Tax Anticipation Notes Series 2010 (Fire and Police Disability and Retirement Fund)
NEW ISSUE Competitive via PARITY BOOK-ENTRY ONLY RATING: Moody s MIG 1 In the opinion of K&L Gates LLP, Portland, Oregon, Note Counsel, assuming compliance with certain covenants of the City, interest
More informationFINANCIAL REPORT OF BOONE COUNTY REGIONAL SEWER DISTRICT DECEMBER 31, 2017
FINANCIAL REPORT OF BOONE COUNTY REGIONAL SEWER DISTRICT DECEMBER 31, 2017 Table of Contents Independent Auditor s Report... 1-3 Management s Discussion and Analysis... 4-7 Statement of Net Position...
More informationMarina Coast Water District Marina, California
Marina Coast Water District Marina, California Comprehensive Annual Financial Report For The Fiscal Years Ended June 30, 2014 and 2013 11 Reservation Road, Marina California 93933 Marina Coast Water District
More informationBOLINAS COMMUNITY PUBLIC UTILITY DISTRICT (A California Public Utility District) BASIC FINANCIAL STATEMENTS
BOLINAS COMMUNITY PUBLIC UTILITY DISTRICT BASIC FINANCIAL STATEMENTS For the Years Ended June 30, 2017 and 2016 C O N T E N T S Independent Auditor's Report 1-2 Page Management s Discussion and Analysis
More informationPULASKI COUNTY PUBLIC SERVICE AUTHORITY (A COMPONENT UNIT OF PULASKI COUNTY, VIRGINIA)
PULASKI COUNTY PUBLIC SERVICE AUTHORITY (A COMPONENT UNIT OF PULASKI COUNTY, VIRGINIA) FINANCIAL REPORT YEAR ENDED JUNE 30, 2016 Pulaski County Public Service Authority (A Component Unit of Pulaski County,
More informationWho Says Financing Has To Be Conventional
Who Says Financing Has To Be Conventional Ohio Hospital Association Annual Conference - Session #2 June 9, 2014 Kass Matt Managing Director Lancaster Pollard & Co. kmatt@lancasterpollard.com Offering Financial
More informationTEXAS ECONOMIC DEVELOPMENT BANK REPORT FY 2015 ANNUAL REPORT
TEXAS ECONOMIC DEVELOPMENT BANK REPORT FY 2015 ANNUAL REPORT TEXAS ECONOMIC DEVELOPMENT BANK ECONOMIC DEVELOPMENT & TOURISM DIVISION OFFICE OF THE GOVERNOR SEPTEMBER 1, 2014 TO AUGUST 31, 2015 1 Overview
More informationHARRIS COUNTY MUNICIPAL UTILITY DISTRICT NO Jones Rd, Suite 120, Houston, Texas Phone Number (281)
HARRIS COUNTY MUNICIPAL UTILITY DISTRICT NO. 119 12841 Jones Rd, Suite 120, Houston, Texas 77070 Phone Number (281) 897-9100 Welcome to your Water District, Harris County Municipal Utility District No.
More informationExecutive Summary: DEQ Non-Limited Budget
Executive Summary: DEQ Non-Limited Budget Primary Outcome Area: Secondary Outcome Area: Program Contact: Jobs and Innovation Healthy Environment Dick Pedersen, DEQ director Ten-Year Plan 200 Non-Limited
More informationBig Walnut Local School District
Big Walnut Local School District Monthly Financial Report for the month ended September 30, 2013 Prepared By: Felicia Drummey Treasurer BIG WALNUT LOCAL SCHOOL DISTRICT SUMMARY OF YEAR TO DATE FINANCIAL
More informationAPPENDIX A: MATTERS FOR YOUR CONSIDERATION
City of St. Marys, Kansas December 31, 2015 Audit Communication Letter to Governing Body APPENDIX A: MATTERS FOR YOUR CONSIDERATION The following recommendations are submitted to assist in improving accounting,
More informationRIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY (A Component Unit of the City of Riviera Beach, Florida)
RIVIERA BEACH COMMUNITY REDEVELOPMENT AGENCY Audited Financial Statements Fiscal year ended September 30, 2017 HCT Certified Public Accountants & Consultants, LLC 3816 Hollywood Boulevard, Suite 203 Hollywood,
More informationWater and Sewer Utility Rate Studies
Final Report Water and Sewer Utility Rate Studies July 2012 Prepared by: HDR Engineering, Inc. July 27, 2012 Mr. Mark Brannigan Director of Utilities 591 Martin Street Lakeport, CA 95453 Subject: Comprehensive
More informationAppomattox River Water Authority
Appomattox River Water Authority Financial Report Year Ended June 30, 2018 S. Chesterfield, Virginia (A Public Body chartered November 21, 1960 Under the Water and Waste Authorities Act of 1950 of the
More informationSession of SENATE BILL No By Committee on Utilities 2-15
Session of 0 SENATE BILL No. By Committee on Utilities - 0 0 0 AN ACT concerning electric utilities; relating to the state corporation commission; authorizing the approval and issuance of K-EBRA bonds;
More informationPolicies and Guidelines
Loan Repayment Assistance Program Policies and Guidelines Adopted by the Board of Governors November 18, 2006 Revised February 13, 2015 The mission of the Oregon State Bar s Loan Repayment Assistance Program
More informationANNUAL REPORT CITY OF NORTH LAS VEGAS, NEVADA FINANCIAL INFORMATION AND OPERATING DATA PURSUANT TO AMENDED SEC RULE 15C2-12 AS OF JUNE 30, 2008
CITY OF NORTH LAS VEGAS, NEVADA ANNUAL REPORT FINANCIAL INFORMATION AND OPERATING DATA PURSUANT TO AMENDED SEC RULE 15C2-12 AS OF JUNE 30, 2008 PREPARED BY: CITY OF NORTH LAS VEGAS, NEVADA 2200 Civic Center
More informationSOUTH CAROLINA STUDENT LOAN CORPORATION FINANCIAL AND COMPLIANCE REPORT JUNE 30, 2008
FINANCIAL AND COMPLIANCE REPORT JUNE 30, 2008 CONTENTS INDEPENDENT AUDITORS REPORT 1 FINANCIAL STATEMENTS STATEMENT OF FINANCIAL POSITION 2-3 STATEMENT OF ACTIVITIES 4 STATEMENT OF CASH FLOWS 5-6 NOTES
More informationCONSOLIDATED FINANCIAL STATEMENTS AS OF AND FOR THE YEAR ENDED JUNE 30, 2016
CONSOLIDATED FINANCIAL STATEMENTS AS OF AND FOR THE YEAR ENDED JUNE 30, 2016 CONSOLIDATED FINANCIAL STATEMENTS CONTENTS Page Independent Auditor s Report 1 2 Financial statements: Consolidated statements
More informationStatement of Revenues, Expenses, and Changes in Net Position (Income Statement) Page 4
M E M O R A N D U M EUGENE WATER & ELECTRIC BOARD TO: FROM: DATE: August 26, 2016 SUBJECT: OBJECTIVE: Commissioners Simpson, Helgeson, Manning, Mital and Brown Sue Fahey, CFO; Susan Eicher, Accounting
More informationDEBT MANAGEMENT GUIDELINES
DEBT MANAGEMENT GUIDELINES Rev. September 22, 2016 TABLE OF CONTENTS I. INTRODUCTION The Need for and Purpose of Debt Management Guidelines... 1 II. III. IV. DEBT AFFORDABILITYAND CAPITAL PLANNING Concept
More informationCITY OF NORTH LAS VEGAS, NEVADA DEBT MANAGEMENT POLICY IN ACCORDANCE WITH NRS (C)
CITY OF NORTH LAS VEGAS, NEVADA DEBT MANAGEMENT POLICY IN ACCORDANCE WITH NRS 350.013 1(C) JUNE 30, 2009 TABLE OF CONTENTS Summary of Debt... 2 Affordability of Debt... 8 General Obligation Bonds Supported
More informationA. Summary of Bond Resolutions: The following is a summary of bond resolutions pertaining to debt reflected on the September 30, 1999 balance sheet:
Reporting Entity t latthan NOTE 6. LONG-TERM DEBT A. Summary of Bond Resolutions: The following is a summary of bond resolutions pertaining to debt reflected on the September 30, 1999 balance sheet: (1)
More informationLA16-06 STATE OF NEVADA. Performance Audit. Office of the Attorney General. Legislative Auditor Carson City, Nevada
LA16-06 STATE OF NEVADA Performance Audit Office of the Attorney General 2015 Legislative Auditor Carson City, Nevada Audit Highlights Highlights of performance audit report on the Office of the Attorney
More informationCABOT WATERWORKS FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION. For the Years Ended December 31,2017 and 2016
FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION For the Years Ended December 31,2017 and 2016 CONTENTS Financial Statements: Page Number Independent Auditors' Report... 1-3 Management's Discussion and
More informationCHEROKEE COUNTY WATER AND SEWERAGE AUTHORITY FINANCIAL REPORT FOR THE FISCAL YEAR ENDING AUGUST 31, 2012
CHEROKEE COUNTY WATER AND SEWERAGE AUTHORITY FINANCIAL REPORT FOR THE FISCAL YEAR ENDING AUGUST 31, 2012 CHEROKEE COUNTY WATER AND SEWERAGE AUTHORITY FINANCIAL REPORT FOR THE FISCAL YEAR ENDED AUGUST 31,
More informationFinance Authority of Maine
Finance Authority of Maine Basic Financial Statements and Management s Discussion and Analysis Year Ended FINANCIAL STATEMENTS For the Year Ended TABLE OF CONTENTS Independent Auditors Report 1 3 Management
More informationThe Building Blocks of Our Community. City of Huntsville Electric, Natural Gas, and Water Systems. Component Unit Financial Statements
Huntsville Utilities: Appendix A The Building Blocks of Our Community City of Huntsville Electric, Natural Gas, and Water Systems Component Unit Financial Statements September 30, 2007 and 2006 Huntsville
More informationMinutes of the ARKANSAS NATURAL RESOURCES COMMISSION October 13, 2009
Minutes of the ARKANSAS NATURAL RESOURCES COMMISSION October 13, 2009 A telephonic meeting of the Arkansas Natural Resources Commission was held Tuesday, October 13, 2009, at 9:00 a.m., in the Director
More information