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Item No 9
6/9/2021 1 Proposed FY 2021‐22 Budget Update Wally Ritchie, Controller Administration Committee June 9, 2021 •FY 2021‐22 Update •2nd Year of 2‐Year Adopted Budget •Stable Revenues •Expenses Include •Operating •Capital Improvement Program •Debt Service •Staffing –No New Positions (639 FTE) •No New Debt *All figures in millions unless otherwise noted Overview 2 1 2 6/9/2021 2 Where the Money Comes From REVENUE Category 2020‐21 Adopted 2021‐22 Adopted 2021‐22 Proposed Service Fees $316.7 $325.4 $323.2 Property Taxes 99.9 102.0 103.2 Capital Facilities Capacity Charges 20.1 20.7 16.6 Permit User Fees 12.8 13.0 12.6 Interest 13.2 13.1 14.5 Intradistrict Transfers 6.1 3.5 3.5 Debt Proceeds* 0.0 0.0 163.8 Other Revenue 16.0 16.7 19.1 Total Funding Sources $484.8 $494.4 $656.5 Interest $14.5 M 2.2% Intradistrict Transfers $3.5 M 0.5% Property Taxes $103.2 M 15.7% Other $19.1 M 2.9% Debt Proceeds $163.8 M 25.0% Fees & Charges $352.4 53.7% 3 * 2021A Refunding REVENUE ‐RATES SFR Rate for FY 2021‐22 $343 $4 or 1.2% Increase $1,169 $715 $636 $598 $573 $469 $444 $439 $455 $430 $339 $313 $309 $296 $213 $‐ $200 $400 $600 $800 $1,000 $1,200 San Francisco Vallejo Sanitation/Flood Control District City of Los Angeles Central Contra Costa Sanitary District City of San Diego Dublin San Ramon Services District Sacramento County East Bay MUD Union Sanitary District City of Hayward OC San Irvine Ranch Water District City of Fresno Oro Loma Sanitary District Los Angeles County Annual Single Family Residential Rates (July 2020) 4 3 4 6/9/2021 3 Capital Improvement Program$224.6 M34.6% Debt Service$234.5 M36.1% Other Requirements$7.0 M1.0% Operating Expenses $183.9 M28.3% Where the Money Goes EXPENSES Category 2020‐21 Adopted 2021‐22 Adopted 2021‐22 Proposed Capital Improvement Program, Net $147.6 $240.8 $224.6 Operating Expenses 174.3 174.5 183.9 Debt Service* 72.8 168.9 234.5 Other Requirements 6.1 6.5 7.0 Total Funding Uses $400.8 $590.7 $650.0 5 *2021A Refunding ‐$163.8M OPERATING EXPENSES Total FY 20‐21 & FY 21‐22 Adopted Budgets $348.8 Total FY 20‐21 Projected & FY 21‐22 Proposed Budgets $355.7 $174.3 $171.7 $174.5 $183.9 FY 2020‐21 Adopted FY 2020‐21 Projected FY 2021‐22 Adopted FY 2021‐22 Proposed Operating Expenses (in millions) 6 Department Budget 2020‐21 Adopted 2021‐22 Percent Change Proposed 2021‐22 Percent Change Administration Units General Manager's Office $4.3 $4.4 2.3% $4.1 (6.8%) Human Resources 6.6 7.0 6.1% 7.2 2.9% Administrative Services 27.7 28.5 2.9% 30.1 5.6% Sub‐Total $38.6 $39.9 3.4% $41.4 3.8% Operating Units Environmental Services 19.3 20.3 5.2% 21.2 4.4% Engineering 5.6 5.6 0.0% 5.4 (3.6%) Operations & Maintenance 110.8 108.7 (1.9%) 115.9 6.6% Sub‐Total $135.7 $134.6 (0.8%) $142.5 5.9% Total $174.3 $174.5 0.1% $183.9 5.4% 5 6 6/9/2021 4 7 •Repairs & Maintenance $5.5M •Professional Services $1.1M •Utilities $0.9M •Salaries & Benefits $0.8M •Operating Materials & Supplies $0.7M •Other Materials & Supplies $0.5M OPERATING EXPENSES ‐$9.5M INCREASE CIP Categories Treatment Projects 194.1$ Collection Projects 40.5 Equipment 5.0 FY 2021‐22 CIP Authority 239.6 CIP Savings & Deferrals (15.0) FY 2021‐22 Net CIP 224.6$ 10‐Year Net CIP Outlay 3.0$ Billion CAPITAL IMPROVEMENT PROGRAM Rehabilitation and Replacement 66% Strategic Initiatives 29% Additional Capacity 4% Regulatory 1% 8 7 8 6/9/2021 5 CAPITAL IMPROVEMENT PROGRAM 0 50 100 150 200 250 300 350 400 Mi l l i o n s Projected FY 2021‐22 Proposed Net CIP Outlay FY2020‐21 Approved Net CIP Outlay 9 DEBT SERVICE Total Outstanding COP Balance 7/1/21 $ 909,620,000 Blended Interest Rate 3.05% FY 2021‐22 Debt Service $ 234.5M* * Refunding debt will be issued to replace 2011A and 2018A in the amount of $163.8M * All outstanding debt to be paid off by 2044 10 9 10 6/9/2021 6 DEBT SERVICE * No New Debt Issues are Planned 11 0 100 200 300 400 500 600 700 800 900 1,000 2020 2025 2030 2035 2040 2045 Mi l l i o n s Outstanding Debt Revenue Proposed FY 2021‐22 Fees & Charges $ 352.4 Property Taxes 103.2 Refunding Debt 163.8 Interest 14.5 Intradistrict Transfers 3.5 Other Revenue 19.1 $ 656.5 SUMMARY Expenses Proposed FY 2021‐22 Operating Expenses $ 183.9 Capital Improvement Program 224.6 Debt Service 234.5 Other Requirements 7.0 $ 650.0 12 11 12 6/9/2021 7 Questions ? 13 13