PARADISE IRRIGATION DISTRICT 6332 Clark Rel I P.O. Box 2409 I Paradise, California 95967 I 530.$77.4971 I Fax 530.$76.04$3 1. Cash position At 5/31/2017 the Districts total cash position was $2,337,027.46. Unrestricted Cash $ 1,220,569.29 Restricted Cash US Bank Trustee 2009 COP Reserve Fund 571,934.15 PFD Funds 544,524.02 $ 1,116,458.17 TOTAL CASH $ 2,337,027.46 2. Debt Service Analysis Through 5/31/2017 we have incurred debt service payments of $1,195,511. The total annual budgeted debt service is $1,197,307. The Districts total outstanding debt is $7,843,299. 3. Operational Issues a. 2016 2017 Financial Overview i. From an operational standpoint, service fee is right in line with budget. Consumption revenue is below estimated budgeted revenue by $390,926. Total Operating Expenses are right in line with budget. b. Highlights from the Fiscal Year 2016 2017 i. District customers currently have online access to their accounts and water usage through Aquahawk. ii. The Audit is scheduled for the week of Aug 28 th iii. Budget is in process iv. Strategic Business Plan is on hold until New General Manager is on board. c. Retirement Plan i. All accounts have been adjusted to reflect the over charge of fees ii. RFP has been issued. Due date is July 15 th d. Training i. I will be attending the ACWA 2017 Fall Conference Nov 26 th Dec 1 st Page 34
Description Actual 2015/16 Actual 2016/17 Increase/(Decrease) 2016/17 Budget (92% of current year) REVENUES: Water Sales 5,282,223 6,335,251 19.94% 7,666,335 82.64% Outside Water Sales 113,133 110,874 2.00% 111,183 99.72% Other 223,916 187,258 16.37% 363,957 51.45% 44,840 5,438 87.87% 20,000 27.19% Taxes 1% 241,460 256,495 6.23% 240,000 106.87% FMV Gain/Loss Securities 1,918 187 90.23% 0.00% IncAssessment Res (PID Share) 152,756 192,884 26.27% 190,000 101.52% Grant Rev 0.00% 0.00% Annexation 2,290 0.00% 0.00% IncSaveACan/BuyAFish 6,289 6,615 5.18% 8,000 82.68% IncCapacity Fees 43,760 57,262 30.86% 25,000 229.05% Revenue PFD 113,356 112,466 0.79% 120,000 93.72% 6,223,650 7,267,021 16.76% 8,744,474 83.10% EXPENDITURES: Operating 4,556,334 4,634,428 1.71% 5,126,469 90.40% Pipeline 574,735 685,176 19.22% 744,674 92.01% Debt Service 1,195,511 1,049,539 12.21% 1,197,307 87.66% Save a Can 12,782 100.00% 8,000 0.00% PFD 21,858 35,328 61.63% 200,000 17.66%.. ~ 6,361,220 6,404,470 0.68% 7,276,450 88.02% Increase/(Decrease) in Cash before Debt Proceeds and Capital (137,570) 862,551 1,468,024 Debt Proceeds 17,000,000 Cash Available for Capital Projects (137,570) 862,551 18,468,024 Capital Improvements Program (1,072,260) (355,274) (16,403,546) Increase/(Decrease) in Cash (1,209,829) 507,277 2,064,479 Beginning Cash Balance 3,184,544 1,829,751 1,829,751 Ending Cash Balance 1,974,714 2,337,027 3,894,229 Page 35
Actual 2015/16 Actual 2016/17 Increase/ (Decrease) 2016/17 Budget (92% of current year) General Fund/Operating Water Service 4,062,506 3,987,769 1.84% 4,563,563 87.38% Water Consumption 1,182,351 2,306,927 95.11% 3,037,772 75.94% Water Fees & Adjustments 37,366 40,555 8.53% 65,000 62.39% Outside Water Sales 113,133 110,874 2.00% 111,183 99.72% Meter Revenue 41,855 29,707 29.02% 10,000 297.07% Recreation & Boating Permits 36,629 34,979 4.50% 29,707 117.75% Backflow Check 9,920 10,860 9.47% 15,000 72.40% Rents 8,097 15,755 94.57% 22,250 70.81% Revenue Surplus Property 50,495 22,239 55.96% 10,000 222.39% Escrow Fees 0.00% 10,000 0.00% Annexation 2,290 0.00% 0.00% Custom Work/PFD Reimbursement 21,858 24,780 13.37% 150,000 16.52% Misc 55,063 48,938 11.12% 117,000 41.83% 15,337 5,438 64.54% 1,526 356.42% Total Operating Income 5,634,609 6,641,112 17.86% 8,143,000 81.56% Special Revenue Fund Capital Improvement Program Taxes 1% 241,460 256,495 6.23% 240,000 106.87% 22,594 5,438 75.93% 13,710 39.66% FMV Gain/Loss Securities 1,918 187 90.23% 0.00% IncCapacity Fees 43,760 57,262 30.86% 25,000 229.05% Grant 0.00% 0.00% IncSaveACan/BuyAFish 6,289 6,615 5.18% 8,000 82.68% Total Capital Improvement 316,020 325,997 3.16% 286,710 113.70% Debt Service Fund IncAssessment Res (PID Share) 152,756 192,884 26.27% 190,000 101.52% 6,909 1,126 83.70% 4,764 23.64% Total Debt Service 159,665 194,011 21.51% 194,764 99.61% PFD Revenue PFD 113,356 112,466 0.79% 120,000 93.72% PFD Income 0.00% 0.00% Total PFD 113,356 112,466 0.79% 120,000 93.72% Total Revenue 6,223,650 7,273,585 16.87% 8,744,474 83.18% Page 36
Estimated (Actual v Budget Actual $390,926.31) Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Total 201617 Actual 320,953.08 374,442.19 378,179.56 324,386.10 186,739.24 121,787.18 126,820.13 113,526.76 105,259.85 123,150.04 131,682.59 339,919.13 2,646,845.85 201617 Budget 383,777.97 409,308.17 507,652.62 400,908.08 183,790.51 130,586.96 152,283.93 134,156.99 121,775.85 113,030.37 160,581.58 339,919.13 3,037,772.16 201516 Actual 140,201.75 167,340.64 153,339.60 141,570.26 121,589.80 69,810.76 61,506.01 60,084.61 56,966.14 77,024.96 132,916.71 180,183.59 1,362,534.83 201415 Actual 227,756.53 255,481.26 224,666.47 192,700.80 131,687.29 75,844.92 65,077.91 72,761.64 65,290.17 95,548.34 100,122.58 128,414.03 1,635,351.94 201314 Actual 263,217.60 329,944.29 302,547.29 212,481.91 155,900.09 118,393.86 95,354.76 104,909.86 63,320.13 77,569.18 106,490.81 177,156.99 2,007,286.77 201213 Actual 249,969.07 314,152.28 320,743.71 266,035.52 163,092.80 74,970.54 66,120.53 68,433.62 63,176.56 88,825.68 140,155.84 232,066.00 2,047,742.15 201112 Actual 209,196.13 223,112.56 276,719.80 218,533.70 100,183.61 71,182.53 83,009.48 73,128.54 66,379.62 61,612.49 87,532.50 185,288.82 1,655,879.78 201011 Actual 190,770.26 260,710.21 283,528.27 233,097.77 162,325.49 83,621.85 53,485.75 63,372.05 61,621.77 60,754.10 77,607.76 131,908.60 1,662,803.88 200910 Actual 229,848.94 268,798.34 288,232.51 221,588.49 156,382.88 83,258.55 73,516.58 61,050.90 54,250.21 60,937.10 78,765.46 88,600.74 1,665,230.70 600,000.00 500,000.00 400,000.00 300,000.00 200,000.00 100,000.00 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun 201617 Actual 201617 Budget 201516 Actual 201415 Actual 201314 Actual 201213 Actual 201112 Actual 201011 Actual 200910 Actual Page 37
Actual 2015/16 Actual 2016/17 Increase/(Decrease) 2016/17 Budget (92% of current year) Operational Summary Salary and Benefits 3,306,175 3,310,216 0.12% 3,376,101 98.05% Materials and Supplies 611,618 569,670 6.86% 770,850 73.90% Outside Services 316,471 317,745 0.40% 417,220 76.16% Utilities 232,178 238,509 2.73% 284,385 83.87% Insurance 89,892 86,408 3.88% 92,155 93.76% Board 111,880 0.00% 185,759 60.23% Total Operating Expense 4,556,334 4,634,428 1.71% 5,126,469 90.40% Actual 2015/16 Actual 2016/17 Increase/(Decrease) 2016/17 Budget (92% of current year) Source of Supply Salary and Benefits 3,648 1,134 68.91% 8,512 13.32% Materials and Supplies 30,860 38,318 24.17% 26,500 144.60% Outside Services 7,294 8,322 14.09% 10,070 82.64% Utilities 3,159 3,627 14.81% 10,600 34.22% Insurance 775 800 3.16% 680 117.57% Total Source and Supply 45,738 52,201 14.13% 56,362 92.62% Security & Recreation Salary and Benefits 140,590 169,559 20.61% 154,603 109.67% Materials and Supplies 4,901 924 81.15% 7,900 11.69% Outside Services 1,570 5,429 245.86% 5,200 104.41% Utilities 1,996 10,253 413.76% 5,400 189.87% Insurance 2,410 2,486 3.16% 3,131 79.42% Total Security & Recreation 151,467 188,652 24.55% 176,234 107.05% Water Treatment Salary and Benefits 860,451 851,567 1.03% 915,244 93.04% Materials and Supplies 154,013 155,685 1.09% 235,900 66.00% Outside Services 22,285 20,874 6.33% 72,500 28.79% Utilities 127,960 125,533 1.90% 153,400 81.83% Insurance 19,168 19,773 3.16% 17,740 111.46% Total Water Treatment 1,183,878 1,173,432 0.88% 1,394,784 84.13% Transmission & Distribution Salary and Benefits 879,316 883,392 0.46% 836,921 105.55% Materials and Supplies 200,807 156,033 22.30% 179,050 87.14% Outside Services 24,335 22,480 7.63% 49,900 45.05% Utilities 46,762 50,691 8.40% 80,600 62.89% Insurance 15,557 16,048 3.16% 26,778 59.93% Total Transmission and Distribution 1,166,777 1,128,643 3.27% 1,173,249 96.20% Customer Service Salary and Benefits 365,890 402,662 10.05% 391,094 102.96% Materials and Supplies 6,846 5,733 16.25% 8,400 68.25% Outside Services 6,226 4,067 34.67% 12,000 33.89% Insurance 5,808 5,991 3.16% 11,936 50.19% Total Customer Service 384,770 418,453 8.75% 423,430 98.82% Administration Salary and Benefits 1,056,279 1,001,902 5.15% 1,069,726 93.66% Materials and Supplies 214,190 212,977 0.57% 313,100 68.02% Outside Services 254,761 256,573 0.71% 267,550 95.90% Utilities 52,301 48,405 7.45% 34,385 140.78% Insurance 46,174 41,309 10.54% 31,890 129.54% Board 111,880 0.00% 185,759 60.23% Total Administration 1,623,705 1,673,046 3.04% 1,902,410 87.94% Page 38
Private Placement Loan 2009 Certificate of Participation Davis Grunsky IBank Rate 2.59% 2.77% 2.42% 4.25% Beginning Balance as of 7/1/16 167,067 1,328,006 2,598,176 4,570,000 Term 40 20 13 15 Loan Payoff Date 1/1/2017 11/15/2027 11/1/2028 10/1/2024 Current Balance 0 1,216,123 2,487,176 4,140,000 Fiscal Years Davis Grunsky DWR 2001 Bond Refunding Kleinert IBANK Private Placement Loan 2009 COP's 2011 Refinance 2007/08 179,739.34 356,724.30 973,852.44 58,438.00 1,568,754.08 2008/09 184,733.44 356,724.30 960,446.25 54,531.25 130,533.86 133,802.22 1,820,771.32 2009/10 184,733.84 356,724.30 973,375.08 25,938.00 130,504.64 267,604.44 95,322.87 2,034,203.17 2010/11 183,034.00 356,724.00 1,996,080.00 130,475.00 267,604.00 312,644.00 3,246,561.00 2011/12 184,733.44 356,724.30 130,443.71 267,604.00 315,994.00 587,535.00 1,843,034.45 2012/13 184,733.44 356,724.30 130,411.99 267,604.44 314,293.74 585,329.20 1,839,097.11 2013/14 184,733.44 356,724.30 130,379.38 267,604.44 312,168.74 585,514.00 1,837,124.30 2014/15 184,733.44 526,734.00 130,345.87 267,604.44 617,893.75 1,727,311.50 2016/17 184,733.44 130,276.05 243,426.37 614,693.76 1,173,129.62 2017/18 130,239.67 243,426.37 617,093.76 990,759.80 TOTAL Page 39
Current Payments Davis Grunsky IBANK Private Placement 2009 Certificate of Participation Totals Budget Actual Budget Actual Budget Actual Budget Actual Budget Actual 167,067 167,067 r 111,883 111,883 r 202,000 202,000 r 430,000 430,000 910,950 910,950 15,676 15,676 18,393 18,393 41,426 41,426 184,694 184,694 260,189 260,189 Total Payments 182,743 182,743 130,276 130,276 243,426 243,426 614,694 614,694 1,171,139 1,171,140 July 94,803.33 94,803.33 18,393.00 18,393.00 Aug Sep 430,000.00 430,000.00 96,646.88 96,646.88 Oct 111,000.00 111,000.00 10,825.47 10,825.47 Nov Dec 167,066.94 167,066.94 15,676.00 15,676.35 Jan 17,080.00 17,079.85 Feb Mar 88,046.88 88,046.88 Apr 91,000.00 91,000.00 30,600.90 30,600.90 May Jun Page 40
Project Title Total Project Cost Cumulated Projected Expense Through June 30,2016 Budgeted FY 2016/17 Expenses Actual FY 2016/17 Expenses Cumulated Projected Expense Through June 30,2017 Water Right Permits 350,000 321,158 66,303 321,158 Process Water Recycle 17,000,000 1,442,805 15,500,000 297,219 1,740,024 New Boat Dock 75,000 6,640 75,000 58,055 64,695 BReservoir 5,000,000 500,000 Total 22,425,000 16,141,303 355,274 2,125,877 Page 41
Contracts Total Contract Price Total Paid Remaining Wagner & Bonsignore Water Rights Engineer Open 82,279.31 Open Butte County RCD Forest Plan 17,500.00 10,453.96 7,046.04 De Novo Planning Group Water Rights Engineer 306,430.00 211,218.74 95,211.26 Water Works BReservior 492,013.00 492,013.00 TOTAL OUTSTANDING OBLIGATIONS 594,270.30 Page 42