BUDGET AND CAPITAL WORK PLAN

Transcription

1 2018 BUDGET AND CAPITAL WORK PLAN The following pages include the supporting documentation for the 2018 Budget, Forecast and 10year capital work plan. It includes a review of 2017, executive summary of the 2018 budget, and presents the expected year end cash position of the District each year This projection includes a facility improvement plan and vehicle replacement schedule. Lastly, this report includes some informational statistics of District operations. Matt Boast, Kittitas PUD General Manager

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3 Table of Contents PUD Mission and Objectives Review Executive Summary Budget Assumptions. 7 Six (6) Year Financial History and 2017 Budget Budget and Four Year Financial Forecast.. 10 Budget Graphs..11 Ten (10) Year Capital Budget Forecast. 12 Financial Benchmark Graphs.. 13

4 The Commissioners, Management and Staff are committed to the stated mission and business objectives of the District shown below. The 2018 budget is reflective of those statements. We will continue to incorporate openness, transparency, ethics, integrity, honesty, respect and perseverance. We want to provide excellent service to our customers while fostering a culture of safety and stewardship. PUD MISSION To provide safe and reliable electric service at a reasonable cost while promoting affordable energy efficiency and meeting the energy needs of our customers and communities in Kittitas County. PUD OBJECTIVES 1) Safety No Injuries. 2) Reliability Provide dependent and consistent power quality. 3) Customer Service Ensure customer needs are met and they understand the responsibilities and services of the PUD. 4) Asset Management Assets are safeguarded and meet the needs of the PUD. 5) Rates Provide costbased rates. 6) Fiscal Sustainability Longterm healthy financial status. 7) Workforce Development Fully engaged and capable staff. 8) Governance Aligned with laws and regulations, mission, strategic plan, policies and roles. PUD Crew Overhead Reconductor Project Page 1

5 2017 Review: The District experienced a colder than average winter in which effectively increased the power sales and costs. A BPA rate increase in October, higher labor rates, multiple outages and other related operations cost increases, by nearly 5% overall, ultimately required the District to pass an amended budget. It is important to note that revenue also increased by nearly 6%, but the District budget policy requires an amendment when expenditures exceed the budgeted amount. Customers should be proud of this level of commitment to transparency and accountability by the leaders at the District. In October, after a great deal of discussion and completion of a cost of service study of each of the District rate classes, the District commissioners chose to delay a rate increase until spring of During 2017, it became evident construction levels were reaching a level not seen since 2008 and scheduling and maintenance were falling behind. In addition, several pieces of critical District equipment were reaching end of life maintenance problems. Management made a conscious effort to purchase new equipment and small tools to support operations, but procurement and manufacturing take time. So, the District brought in rental equipment until replacement equipment could be delivered. In addition, the District hired a line construction crew to complete projects, some of which, were originally planned to be completed by PUD line crew. In fact, operation expenses increased by over 13% from the original budget in an effort to eliminate delays and breakdowns and keep up with maintenance and new construction demands. Page 2

6 In July 2017, the state of Washington passed legislation promoting a new phase of distributed generation interconnection for renewable wind and solar systems, which went into effect in October As a result, the Commission held several public meetings to adopt new distributed generation rates and has connected several generators under the new program. Prior to passage of the legislation, the District had ended participation in the legacy state incentive program. The District had reached the incentive cap in 2016 and the District believed new connections would erode the incentive for existing renewable power generators under that legacy program was a busy year for new construction, the District connected over 76 new customers, mostly residential, with several other projects for expansions or upgrades of existing services, including a few hay processing facilities and irrigation circles. Not including the projects completed in November and December, the District retired 1.0 mile of old harddrawn copper and installed 1.86 miles of stranded aluminum wire. They also retired 17 poles and installed 35 new poles. Lastly, 1.0 mile of new conductor in conduit was installed for new services, relocations or retirement of direct buried cable. Contributed capital of over 500,000 was earned in 2017 with more than 300,000 additional collected for projects in progress. Overall, the capital budget expenditures for 2017 are estimated to be within 3% of budget, a great accomplishment given the challenges this year. Also, the District did not have any missed days due to a workrelated injury for the sixth year in a row. Other rates addressed in 2017 through the public process included the flat unmetered rates for both District owned security lighting and nondistrict owned equipment. In addition, the District completed a cost of service analysis (COSA) and multiple meter audits. The District also promoted InHome energy audits for residential customers to identify potential conservation projects and help customers save money on future power costs. Several technology related improvements are pushing the District to a new level of accountability and accuracy. A longterm goal was achieved in 2017 with the integration of the GIS (mapping software) to CIS (billing/accounting software). The connection of these 2 data bases has helped validate good data and also exposed the need for continued effort to leverage these systems and reduce human errors. The design/staking software package added to our GIS program was also a major improvement to the work order processes. The District has been working toward this project for several years and it is exciting to see it working. Mobile mapping on District phones and tablets was added in 2017 which can provide more realtime information for all employees and contractors working for the District. Fleet tracking was added to the District in 2016 with some internal resistance. Feature improvements and training on the system Page 3

7 capability is needed to leverage all the data available. The system allows approved users to be notified afterhours when District vehicles roll for outages and provides reports to assist with fleet utilization decisions. The District has worked closely with the 24 hour dispatch center to improve the afterhours communication during outages and lineman response. The District has demonstrated the value of incorporating new technology and solutions to the work place, with each improvement something has been learned about the District operations. The District, like 2016, again experienced a turnover of 19% of the workforce in The District is fortunate to have talented employees and has periodically evaluated positions and pay in the region to ensure the District is paying competitive and fair wages and benefits to employees. Fortunately, interest in working for the District has been high and the District has been able to seek and hire talented individuals to add to our strong team. Turnover is costly to the District and time consuming for staff and management. One major accomplishment worth noting is the resolution of the 401k compliance issue with the IRS. The District utilizes several exceptional attorney groups and has talented financial staff who worked diligently to resolve this issue. Thank you to all staff and commissioners for your commitment to our customers and the Kittitas County community! Page 4

8 Executive Summary of the 2018 Budget: Any budget, whether it is a family budget or business plan, has spending priorities. Almost every stakeholder affected by a budget plan will place the highest priority on their urgent needs. It can start to feel like everything requires immediate attention and investment. The Kittitas PUD is in that place right now. Although we have been investing significantly over the last several years to replace aging distribution lines, like meters, transformers, poles and conductor (5.9m over 5 years), there are other investments needed to achieve the goals the District has for its customers and employees. These include capital expenditures in substations, power supply contracts, District vehicles and facilities. Add into this list is the increased expectation of our ondemand culture and our fastgrowing Kittitas county and setting priorities becomes essential to achieving success. Our focus with this budget was finding balance in our efforts, addressing needs and goals, but not overreacting (overspending) in areas perceived as urgent. The 2018 budget spreadsheet, as presented on pages 1012, represents a balanced budget and incorporates input from consultants, contractors, staff, management and the Board of Commissioners. The budget balances expenses with all sources of revenue. The spreadsheet includes a six year history and a four year forecast so the budget can be put in context with other years. There are many variables which affect the revenue and expenditures of the District. To understand the budget, you must understand the baseline assumptions, which are listed on pages 78. The assumptions include an anticipated 3.5% rate increase in power sales in early spring. The primary driver of the rate increase was the Bonneville Power Administration rate increase to power purchases which went into effect October 2017, but other expenses including labor costs contribute to the need for a rate increase. Weather can also have a significant impact on the District revenues. The District is in a solid financial position and has maintained a Standard & Poor A rating. The 2018 capital plan, outlined in greater detail below, will be funded almost entirely out of the general fund without reducing reserves below the District goal of maintaining 120 DCOH of unrestricted reserves. The District has access to shortterm financing if necessary, but the Board of Commissioners have committed to working toward reducing the debt. They have raised the goal from 50% equity to 60% and the Debt Service Coverage ratio to The District performance toward these goals are highlighted red or green at the bottom of pages 910 along with other key indicators, which are tracked and reported to measure District performance. The District Mission statement, objectives and goals outlined in the Strategic Plan have not changed. The Commissioners and Management are committed to seeing these targets reached. We plan to review and update the Strategic Plan in 2018 with input from the many stakeholders of the District. Below is a list of the goals and objectives of the District within this budget and forecast; Administration is continuing the effort to improve customer service and communication within the District. For several years management has focused on policy and procedure improvements to ensure transparency, legal compliance, fairness, risk mitigation, as well as, improved customer service. We are confident that customers and the District will benefit from these efforts. Management will continue to build on the progress we have made, but is focusing more attention on the operational inefficiencies of the District. Specifically in the areas of new construction customer service, outage response time, system Page 5

9 reliability and safety of our employee and the public. Investments in the headquarters are intended to improve the physical security of the District employees and safeguard the District inventory and equipment. In addition to physical security improvements, the District will continue to improve data security. Employee turnover was a challenge in As a result, the District has several employees in new roles, so there will be continued effort to train and support employees in their roles as leaders at all levels within the District. The District will continue to offer lowincome residential weatherization/conservation through Hope Source, commercial building efficiency improvements, agriculture rebates and utility sector projects. Lastly, the District will continue the inhome energy audit program for customers interested in conserving power at home and the LED security light promotion while budget and supplies last. The District has talented financial staff members making it possible to expand our sights, improve functions and produce accurate financial data. The Finance department is in the final stage of bringing the Treasurer responsibilities in house. This is expected to improve investment income and streamline processes. A goal was set to complete a COSA by the district to study and design rates to collect the appropriate share of expenses per class of service. This happened in 2017 by staff with oversight by a consultant. The COSA process will be updated in 2018 with the latest data to review differences between forecast and actual. The Customer Service Department is working to improve accuracy and efficiency by updating the last few meters requiring monthly manual reads. Technology is ever changing and requires staff to be continually trained, purchase or update software then address problems. Establishing procedures and training staff district wide is ongoing. Finance remains committed to monitoring financial targets, meeting GAAP compliance, monitoring allocations rates, auditing of internal control procedures, and quarterly rate reviews. Operation department schedule for construction extends until nearly the end of the first quarter of The District plans to bring in outside line crew labor to complete projects identified in the 20 year system plan. Other systemwide initiatives include replacement of aging infrastructure, replacement of hard drawn copper lines, old or damaged poles, livefront transformers, overhead CSP transformers, and failed or aging direct buried cables, which has been a focus for many years. The safety and standards committee will continue improving the construction standards for employee, public safety and wildlife protection. Lastly, the department plans to continue the device numbering and tagging in the field for safer operations and communication. These include switch labeling, structure tagging, underground cable numbers and labeling of all other potential hazards. The tree trimming program and outage followup repairs and communication are still a primary focus area. Engineering goals include the purchase of a new substation transformer and the completion of multiple system design projects with the assistance of the District consulting engineers. These projects include the validation of our system modeling software, new substation design, meter and system audits, coordination studies and standards of construction. Work orders and inventory are an integral part of the District which affect all departments. Engineering will continue to support operations, finance and administration goals with specifications and processes which help the District analyze our performance and implement improvements. Page 6

10 Any amendments of the budget to increase the total expenditures will be approved by the Board of Commissioners. The 2018 Budget Summary and the Strategic Plan work together to support the District mission; To provide safe and reliable electric service at a reasonable cost. PUBLIC UTILITY DISTRICT #1 OF KITTITAS COUNTY 2018 BUDGET ASSUMPTIONS OPERATING REVENUES Rate increase to follow BPA Cost of Power increase listed below COSA completed to determine rate class increase and rate design o April % o % o % o % o % kwh Increase per BPA Forecast o Slow growth 0.6% annually NONOPERATING REVENUES Pole contact rate to remain at 2008 rate Increase application and service fees Sale of vehicles 2018 and 2019 Insurance claims not estimable (ERISA, Beverly Cleanup) COST OF POWER EXPENSE average/low water year Increase in Distribution per RIM Model prepared by Hope Ross BPA o BP o BP18 (4% Power,.07% Transmission) o BP20 5% TIER 2 power 2020 Load shaping charges increased based on 2017 actual Lookback credit expiration ,000 CRAC not estimable Spill surcharge ,988 LABOR EXPENSES Wage increases annually o Non Union step increases with updates based on 2017 Milliman survey o Union per union contract Staff o 2018 Temporary Groundsman 6 months Operations Sup. 9 months Benefits o Medical insurance 2017 to 2021 premium increase by 4.5% annually 5%, 7.5%, 10% employee contribution Change Provider for Dental, Vision, Life, Disability 2020 Cadillac tax o Social Security implementation with 401k match Capitalized labor Capitalized Expensed o 2018 lineman 46% 54% o 2018 total staff 29% 71% Page 7

11 PUBLIC UTILITY DISTRICT #1 OF KITTITAS COUNTY 2018 BUDGET ASSUMPTIONS continued GENERAL EXPENSES Tree Trimming maintained Tool and Safety expenses increased 30% Meter expense increased o Audits as needed o See Capital projects for upgrades o Upgrade nonstandard meter bases to allow AMR meters Contract mapping services Substation maintenance increased Transformer expense increased Advertising/communications maintained Training per supervisor goals Association dues maintained at 2017 level Plant Asset Validation and Project planning BONDS Cash balance use reserve to fund capital projects until DCOH equals 120 days in 2018 Short term financing beginning 2018 using least cost option of line of credit, hybrid loan or bond anticipation note 2019 Refunding 2009 Bonds plus New Money 7.5m Bond issue may require additional costs Inflation rate 2.85% CAPITAL PROJECTS continues progress of 1 st quartile projects identified in 20 year system plan, rebuild substations, add redundancy and replace aging infrastructure (average system age less than depreciable life) *Maintain system wide infrastructure replacement o PUD work (600 series) 475,500 *Naneum Road rebuild 2.5 mile 250,000 Contract Capacity Upgrade 540,033 Jenkins Sub Rebuild, includes Xfmr purchase and disposal 600,000 *Teanaway feeder improvement o Burke Road, Ley Road, State Route 97 2 miles 241,538 Customer reimbursable projects 700,001 Meter and transformer costs o Replace 1phase demand meters 18,000 o Replace nonstandard transformers 100,000 Engineering costs system planning *Projects are 20% planned FIXED ASSETS Vehicle replacement 659,301 Meters 20,000 o MVRS equipment and software upgrade o Meter data management system not included o AMI metering not included Draft master facility plan 4,294,675 o ,000 o ,000,000 Page 8

12 PUBLIC UTILITY DISTRICT #1 OF KITTITAS COUNTY 2018 BUDGET Actual Actual Actual Actual Actual Budget OPERATING REVENUES Sales of Electricity 8,166,368 8,693,886 8,589,754 8,683,513 9,014,530 9,149,471 Other Operating Revenue 221, , , , , ,268 Total operating revenue 8,388,332 8,921,216 8,699,535 8,974,285 9,200,022 9,367,739 OPERATING EXPENSES Cost of power 2,991,334 3,264,061 3,588,408 3,551,771 3,795,818 3,840,864 Distribution expense 781, ,517 1,318,715 1,088,740 1,184,780 1,146,637 Consumer accounts expense 291, , , , , ,765 Administrative and general expense 785, , ,094 1,070,824 1,001, ,997 Tax expense 459, , , , , ,665 Total operating expense 5,309,725 5,848,882 6,720,962 6,616,902 6,909,560 7,123,927 Operating income 3,078,607 3,072,334 1,978,574 2,357,383 2,290,462 2,243,812 OTHER INCOME AND EXPENSE Investment income 16,383 25,991 18,963 23,596 42,240 61,836 Other nonoperating income (expense) (370,643) 69,771 (20,004) 256,375 (68,226) (58,619) Other income and (expense), net (354,260) 95,762 (1,041) 279,971 (25,986) 3,217 Change in net position 2,724,346 3,168,096 1,977,532 2,637,354 2,264,476 2,247,028 Additions for CIAC 322, , , , , ,815 Change in net position 3,046,811 3,480,903 2,251,361 2,931,610 2,639,236 2,889,844 DEBT SERVICE Principal 790, , , , , ,510 Interest 608, , , , , ,029 1,398,733 1,459,278 1,468,911 1,432,364 1,284,814 1,225,539 CASH FROM OPERATIONS FOR CAPITAL OUTLAY 1,648,078 2,021, ,450 1,499,246 1,354,422 1,664,305 CAPITAL PROJECTS 2,534,021 1,294,904 1,080,184 2,115,348 Funds required to balance (1,751,571) 204, ,238 (451,043) CONSTRUCTION FUND Financing 0 Reserve 2,502,108 1,472,533 Cash needed 1,228, ,525 1,410, , ,160 1,472,533 GENERAL FUND Beginning Balance 3,018,778 3,880,374 4,836,928 4,719,112 5,031,910 6,136,692 Reserve Contribution 786,483 1,065, , , ,675 1,472,533 Cash from Operations 1,648,078 2,021, ,450 1,234,536 1,354,422 1,021,489 Ending balance 3,880,373 4,836,927 4,719,112 5,031,910 6,119,657 5,685,649 Goals Cash Reserves 180 DCOH 4,194,166 4,460,608 4,349,768 4,487,142 4,600,011 4,574,736 RESTRICTED CASH 958, ,682 1,051,552 1,615,240 1,722,697 1,362,541 TOTAL DEBT 13,185,000 14,840,000 13,935,000 13,140,419 12,244,499 11,384,989 DEPRECIATION 992,307 1,105,177 1,038,462 1,079,008 1,146,663 1,170,182 MARGINS 1,825,729 1,696, ,988 1,275,237 1,103,679 1,353,633 Debt Service Coverage DSC TIER Equity 50% 53.79% 52.79% 55.24% 54.95% 57.39% 62.89% Capital to Depreciation 120% 244% 120% 94% 181% Page 9

13 PUBLIC UTILITY DISTRICT #1 OF KITTITAS COUNTY 2018 BUDGET Budget Forecast Forecast Forecast Forecast OPERATING REVENUES Sales of Electricity 9,533,790 9,888,451 10,214,524 10,464,358 10,715,692 Other Operating Revenue 224, , , , ,878 Total operating revenue 9,758,294 10,110,428 10,437,131 10,687,599 10,939,569 OPERATING EXPENSES Cost of power 4,031,217 4,055,184 4,134,734 4,159,695 4,241,211 Distribution expense 1,289,021 1,373,357 1,393,957 1,414,866 1,436,089 Consumer accounts expense 637, , , , ,663 Administrative and general expense 1,138,118 1,155,190 1,197,518 1,215,481 1,208,713 Tax expense 562, , , , ,043 Total operating expense 7,658,419 7,791,994 7,947,779 8,025,093 8,134,720 Operating income 2,099,874 2,318,434 2,489,351 2,662,506 2,804,849 OTHER INCOME AND EXPENSE Investment income 41,836 31,836 31,836 31,836 31,836 Other nonoperating income (expense) (59,113) 9,042 (93,968) (91,968) (91,968) Other income and (expense), net 17,277 40,878 62,132 60,132 60,132 Change in net position 2,082,598 2,359,312 2,427,219 2,602,374 2,744,717 Additions for CIAC 731, , , , ,094 Change in net position 2,813,598 2,803,242 2,884,467 3,073,339 3,229,812 DEBT SERVICE Principal 889,297 1,013,074 1,066,370 1,211,900 1,229,645 Interest 351, , , , ,485 1,240,836 1,388,925 1,527,073 1,754,799 1,807,130 CASH FROM OPERATIONS FOR CAPITAL OUTLAY 1,572,762 1,414,317 1,357,394 1,318,540 1,422,682 CAPITAL PROJECTS 4,408,546 4,123,522 5,636,987 3,922,898 2,620,152 Funds required to balance (2,835,784) (2,709,205) (4,279,593) (2,604,358) (1,197,471) CONSTRUCTION FUND Financing 286,849 2,825,926 4,387,239 2,685,604 1,278,900 Reserve 3,390, , , , ,158 Cash needed 3,677,546 3,679,592 5,179,739 3,451,933 2,135,058 GENERAL FUND Beginning Balance 5,685,649 3,136,713 3,253,434 3,361,080 3,442,326 Reserve Contribution 3,390, , , , ,158 Cash from Operations 841, , , , ,587 Ending balance 3,136,713 3,253,434 3,361,080 3,442,326 3,523, Goals Cash Reserves 120 DCOH 3,134,397 3,250,998 3,358,200 3,440,337 3,522,967 RESTRICTED CASH 1,511,827 2,011,827 2,011,827 2,011,827 2,011,827 TOTAL DEBT 10,812,328 12,748,957 16,123,122 17,742,356 17,809,355 DEPRECIATION 1,366,254 1,441,254 1,541,254 1,577,921 1,611,254 MARGINS 1,095, , , ,520 1,041,073 Debt Service Coverage DSC TIER Equity 60% 65.06% 62.67% 58.47% 57.25% 58.13% Capital to Depreciation 120% 323% 286% 366% 249% 163% Page 10

14 Other Operating Revenue 2% Investment income 1% Additions for CIAC 7% Sales of Electricity Other Operating Revenue Investment income Additions for CIAC Sales of Electricity 90% 2018 Budgeted Revenue Page 11

15 Ten Year Capital Budget Forecast Orange cells are 20% design estimate Red letter projects are identified in 20yr plan Item Total CWP Ellensburg Substation Area 300 E1 Load Switching (S2 Loop) 27,674 27,674 * 300 E2 Feeder Relocation* 300, , E2 Regulators & Load Balancing 93,500 93, Ellensburg Substation Rebuild 500,000 1,000,000 1,500,000 Jenkins Substation Area miles #6cu with 3ph #336al Lyons Rd > 120, , , Replace 2.5 mi #6cu with #336alNaneumPhase3 250, , Substation Uprade (2018 Xfmr 2019 Station) 600, ,000 1,400, kV Substation Uprade (2020 Xfmr 2021 Station) 500, ,000 1,000,000 Parke Substation Area 200 New Fdr P4 UG Getaway, Reconductor, Cap Bank > 169, , , , , P3 Gang Switch / Split P3 to P4 16,800 16, Bynum Rd 1ph 3ph 146, , Replace 7.0 mi #6cu with #336al Vantage Feeder 120, , , , ,954 Auvil Meter Point Area 1200 Contract Capacity Upgrade 540, ,033 Roza Meter Point Area 1200 Backup Generator/Backup Feeder POD > 100, ,000 Smithson Substation Area miles #336al Bettas Rd > 120, , , Phaseup 1.5 mi with #336alUpper Green 275, ,000 Teanaway Substation Area miles 1ph #6cu with 3ph #336ACSR Burke Rd 53,918 53, Relocate 1ph #6cu with 1ph #4al Ley Rd 67,620 67, Replace 0.5 miles 3ph #1/0al Teanway Rd 53,147 < 53, miles 3ph #336 ACSR State Route ,000 < 130, , , Teanaway Substation Rebuild 500,000 1,000,000 1,500,000 Bettas Substation 500 New Sub (LandDesignPermit, Equip, Constr) 140, ,000 3,200,000 3,940,000 System Wide * 100 Customer Projects* 401, , , , , , , , , ,975 4,566, PUD Projects 695, , , , , , , , , ,783 8,036,611 Transmission Lines Other kV Transmission Upgrade 120, , , , , , , Install 8.0 mi 35kV Subtransmission 1,000,000 1,000, Facility Master Plan 450, , , , , , , , ,675 4,294, Facility Improvement Fund 138, , , , , , Vehicle Replacement Fund 659, , , , , , , , , ,837 1,690, Information Technology Fund 10,000 10,300 10,609 10,927 11,255 11,593 11,941 12,299 12,668 13, ,639 Grand Total All Costs 4,408,546 4,123,522 5,636,987 3,922,898 2,620,152 2,862,464 3,212,705 2,875,344 3,092,433 1,943,572 34,698,622 Page 12

16 Target Ratios Equity % 2018 Budget Summary December 19, ,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 Financial Benchmarks (6yr history, 6 year forecast) Margins Cash reserves Capital Projects Financial Targets (6 year history, 6 year forecast) Calendar Year 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% DSC TIER EQUITY Debt Service Profile 2009 Bonds 2013 Bonds 2015 Bank 2019 Refunding Page 13

17 Kittitas PUD Year End Data Inputs FTEs Linemen/Union Connections 4,227 4,289 4,359 4,385 4, Sales of Electricity 5,768,567 6,491,036 6,789,353 7,351,039 8,166,368 8,693,886 8,589,754 8,683,513 9,014,530 9,663,567 Cost of Power 2,090,891 2,646,387 2,856,619 2,805,499 2,985,663 3,261,302 3,580,022 3,550,497 3,795,818 4,170,660 Total Operating Expense 2,644,113 2,970,191 3,301,319 2,933,270 3,318,188 3,695,445 4,212,242 4,300,906 3,113,742 4,528,961 Debt 12,200,000 15,385,000 14,730,000 13,975,000 13,185,000 14,840,000 13,935,000 13,140,419 12,244,499 11,384,989 General Fund 1,948,763 2,124,412 1,948,520 2,941,395 3,941,479 4,898,435 4,864,182 5,276,259 6,119,657 5,685,649 Restricted Cash 3,286,988 4,272,841 3,421,937 2,015, ,789 3,298,475 1,882,557 1,973,801 1,722,697 1,751,785 Net Assets 18,079,459 20,111,466 22,446,771 23,749,179 24,777,298 24,986,616 26,060,931 26,044,844 25,496,452 26,320,445 Estimated Year End Values 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 Construction Debt and Net Capital Assets ,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 Total Cash Debt Net Assets General Fund Restricted Cash Workforce Data Connections / FTE Revenue / FTE Expense / FTE Debt / FTE Workforce Data Revenue / FTE Expense / FTE Debt / FTE Connections / FTE 0 Page 14

18 Average System Data Revenue / Connection Expense / Connection Debt / Connection Asset / Connection Average System Data Revenue / Connection Expense / Connection Debt / Connection Asset / Connection Kittitas PUD kwh Data KWH Purchased 96,289,285 99,347,421 99,428,313 98,651,049 99,142, ,108,153 KWH Sold 92,446,502 94,667,598 92,319,589 92,875,963 93,287, ,563,232 KWH Conserved* 104, , , , , ,699 KWH Produced (DG Net) 303, , , , , ,586 *Totals are BPA Fiscal Year Totals, not reconciled for Calendar Year Estimated Year End Values 115,000, ,000, ,000, ,000,000 95,000,000 90,000,000 85,000,000 KWH Purchased, Conserved, Produced KWH Purchased KWH Conserved* KWH Produced (DG Net) 800, , , , , , , ,000 0 Page 15

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