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HomeMy WebLinkAbout97.Item 4 PPP Admin Committee 03-14-18_Budget Update Revenues & Reserves for Fiscal Years 2018 = 19 and 2019 =20 Administrative Committee Meeting March 1412018 Revenues are Composed of Four Major Categories Estimated Proposed RevanuPs FV 17_1 R FY 18-19 FY 19-20 Fees & Charges $314 M $321 M $326 M General Income $102 M $110 M $119 M Other / Interagency $ 32 M $ 37 M $ 44 M Debt Proceeds $ 0 M $ 0 M $ 0 M Total Revenues $448 M $468 M $489 M ■ Fees and Charges Represent the Largest Component of Revenues Or General General Income Income $110 M $119 M 24% 24% Other Other $37M - 8% $44M - 9% Fees & Charge Fees & Charges $321 M $326 M 69% 67% Approved Revenues Approved Revenues FY 18-19 = $468 Million FY 19-20 = $489 Million General User Fees Collected on the Property Tax Bill is the Largest Revenue Source Proposed FY 18-19 FY 19-20 General User Fees $ 296 M $ 300 M Permit User Fees $ 13 M $ 13 M Capital Facilities Capacity $ 12 M $ 13 M Charges Total Fees & Charges $ 321 M $ 326 M 0 M Ten Largest Industrial Users Represent < 3% of OCSD User Fees Company Fee % of Total House Foods America $1,328,,551 0.43% Kimberly-Clark Worldwide 11139,233 0.36% Cargill 11119,665 0.36% Pulmuone Wildwood, Inc. 749,655 0.24% Stremicks Heritage Foods 678,705 0.22% MCP Foods, Inc. 676,563 0.22% Schreiber Foods, Inc. 635,504 0.20% Ameripec Inc. 593,679 0.19% Jazz Semiconductor 549,292 0.18% Nor-Cal Beverage 5381242 0.17% Top Ten Total Fees & Charges $8,009,089 2.57% Property Tax Rise with the Continuing Economic Recovery Proposed IFY 18-19 FY 19-20 Property Taxes $ 98 M $ 103 M Interest $ 12 M $ 16 M Total General Income $ 110 M $ 119 M Other / Interagency $ 37 M $ 44 M , Debt Proceeds Vary as Needed to Support the CIP Program No new money debt issuances are projected in the near term . Reserve Policy Summary for Fiscal Year 2017-18 Non-Discretionary Reserves Million 1) Operating Expense — Dry Period $ 76 2) Debt Service — Dry Period $ 82 3) Debt Service Requirements $ 101 Discretionary Reserves 4) Operating Contingencies $ 15 5) Capital Improvement Program $ 123 6) Catastrophe Funds $ 57 7) Replacement/Refurbishment $ 66 TOTAL $520 � I OCSD Reserve Criteria Summary Discretionary Reserve Criteria 1) Operating Contingencies $ 15 M 2) Capital Improvement Program $ 123 M 3) Catastrophe Funds $ 57 M 4) Replacement/Refurbishment $ 66 M Total $261 M Total OCSD Assets $10 Billion Percent Coverage 3% Questions ?