January Income Report

Transcription

1 January Income Report *All budget comparisons reference the Revised Budget adopted by the Board on January 20, 2015 Cash receipts = $955,510 Annual budget for Water Capacity fees is $291,000. Water capacity fees collected fiscal year to date is $128,159 or 55.96% of the annual budget Water Demand Offset (WDO) Credits collected fiscal year to date is $329,620. No WDO revenue was budgeted for Cash Receipts Report Month of January 2015 Fiscal Year to Date Total Cash Receipts $955,510 $12,456,318 Operating Receipts Water Billings $949,526 $8,193,393 WDO Credits $0 $329,620 Water Capacity Fees $0 $128,159 Other Operating Receipts $5,985 $457,458 Non Operating Receipts Rent from District Property $0 $200 Refunds $0 $14,159 Grant Reimbursements $0 $171,000 COP Project Fund Reimbursements $0 $3,162,329 Sale of Surplus Property $0 $0 Water consumption billings = $589,719 January water consumption billings are 1.12% under budget Single Family Residential water consumption billings are $363,243, 8.22% over budget for January, 1.72% under budget fiscal year to date Multi Family Residential water consumption billings are $124,643, 19.79% over budget for January, 3.17% over budget fiscal year to date Non Domestic water consumption billings are $101,456, 35.25% under budget for January, 10.15% under budget fiscal year to date Total water consumption billings fiscal year to date are 2.35% under budget

2 January 2014 consumption reflects the conversion to monthly billing January Consumption Report January Water Consumption = 86,625 units 7.27% over budget 53.5% decrease from the prior year Water Consumption Fiscal Year to Date = 804,601 units 0.74% under budget 31.41% decrease from the prior year Top Tier Water Consumption = 1,641 units MFR = 678 units, a 66.18% increase from prior year SFR consumption = 963 units, a decrease of 81.63% from prior year Top tier customers = 122, a decrease of 76.31% from the prior year Service Connections Regular Services 14,369 14,346 Fire Services 1,399 1,369 Total Services as of 12/ ,768 15,715

3 January Operating Fund Report Water Revenue M & O Payroll Water Capacity Beginning Balance $ 1,576,529 $ 7,973 $ 1,959 $ 10,834 Cash Receipts 955,510 M & O Account Transfers (1,990,500) 1,990,500 Payroll Account Transfers (200,000) 200,000 Water Capacity Account Transfers (112,000) 112,000 Wells Fargo Transfers LAIF Transfers Warrants Processed (2,000,474) (200,117) Void Checks 13,880 Other (4,938) January Ending Balance $ 224,602 $ 11,879 $ 1,842 $ 122,834 Projected Statement of Cash Flows Six Months Ended 7/31/2015 Feb 15 Mar 15 Apr 15 May 15 Jun 15 Jul 15 Total Est. Beginning Cash Balance $27,587,100 $24,323,800 $7,942,700 $7,942,700 $7,942,700 $7,942,700 $27,587,100 Projected Source From: Water Sales $619,000 $599,300 $548,700 $652,500 $794,000 $835,500 $4,049,000 Service Charges 380, , , , , ,300 2,281,800 Water Capacity & Installation Fees 28,400 28,400 28,400 28,400 28,400 28, ,400 Interest on investments 2,900 2,900 2,900 2,900 2,900 2,900 17,400 Miscellaneous ,400 Estimated Total Cash Receipts $1,031,000 $1,159,800 $1,159,800 $1,159,800 $1,159,800 $1,159,800 $6,521,000 Projected Use For: Payments for salaries & benefits $460,300 $460,300 $690,400 $460,300 $460,300 $460,300 $2,991,900 Purchase of services & supplies 351, , , , , ,400 2,108,400 Capital Outlay 155, , , , , , ,800 Payments to contractors for construction 3,326,300 3,326,300 3,326,300 3,326,300 3,326,300 3,326,300 19,957,800 Interest payments 769, ,400 Repayment of debt 651, ,200 Other ,000 Estimated Total Cash Disbursements $4,294,300 $4,966,500 $4,966,500 $4,966,500 $4,966,500 $4,966,500 $27,416,500 Excess/(Deficit) ($3,263,300) ($3,806,700) ($3,806,700) ($3,806,700) ($3,806,700) ($3,806,700) ($20,895,500) Ending Cash Balance $24,323,800 $7,942,700 $7,942,700 $7,942,700 $7,942,700 $7,942,700 $6,691,600 It has been verified that this Income & Investment Status Report is in conformity with Soquel Creek Water District's Investment Policy which was approved by the Board of Directors on July 15, The cash flow projections provide sufficient liquidity to meet estimated future expenditures for a period of six months. Approved by

4 January Investment Fund Report The Weighted Average Yield on the District s investments is 0.28%, a decrease of 1 basis point from the prior month The interest rate on Federal Funds is 0.11% The interest rate on 6 month Treasury Bills is 0.08% Total monthly interest received on Investments is $9,156 Current Yield Market Balance % of Total Portfolio Weighted Yield Surplus Revenue Fund LAIF 0.26% $11,204, % 0.09% LAIF BNY (2011 COP Project Fund) 0.26% % 0.00% LAIF BNY (2013 COP Project Fund) 0.26% 16,143, % 0.13% Bank of New York (COP Project Fund) 0.00% % 0.00% Wells Fargo Surplus Revenue 0.03% 171, % 0.00% US Bank Certificates of Deposit 0.75% 1,245, % 0.03% US Bank Certificates of Deposit 0.95% 248, % 0.01% US Bank Certificates of Deposit 1.00% 249, % 0.01% US Bank Certificates of Deposit 1.05% 248, % 0.01% Subtotal $29,510, /14 Debt Service Fund BNY Debt Service 0.00% $0 0.00% 0.00% First Republic Bank 0.00% 15, % 0.00% Subtotal $15, Debt Reserve Fund BNY BNY Treasury Bills 0.00% $1,441, % 0.00% LAIF Restricted Water Capacity 0.26% $1,783, % 0.01% Total $32,749, % 0.28%

5 Schedule of Operating Contingency Fund Requests Fiscal Year Ending June 30, 2015 Date Item # Description Request Amount Total Expenditures Target OCR $2,900,000 August 12, Main Street Well Rehabilitation Project $5,000 $5,000 $2,895,000 October 7, Main Street Water Treatment Plant Interior Recoat and Media Replacement $288,000 $293,000 $2,607,000 October 21, Glenwood Property Survey and Erosion Control Restoration $23,000 $316,000 $2,584,000 November 4, Madeline Well II Physical Rehabilitation and Pumping Equipment Replacement $24,000 $340,000 $2,560,000