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HomeMy WebLinkAboutLate Communication- Item No. 9 PPP Operations Committee - FY24-25 and FY25-26 Budget6/5/2024 1 Proposed FY 24-25 and FY 25-26 Budget Presented by: Ruth Zintzun Finance and Procurement Manager Operations Committee June 5, 2024 v Orange CountySanitation District70thAnniversary FY 2024-25 and FY 2025-26 Budget •Stable revenues •Expenses include: •Operating •Capital Improvement Program •Debt service •Staffing: FY 2024-25 (663.5 FTE) •No new debt *All figures in millions unless otherwise noted 2 1 2 6/5/2024 2 v Orange CountySanitation District70thAnniversary Property Taxes $117M 22%Other $10M 2% Interest $17M3% Fees and Charges $384M72% Intradistrict Transfers$4M 1% 3 Total Revenues - $532M FY 2024-25 Property Taxes$120M 21%Other $28M5% Interest $17M3% Fees and Charges$401M 70% Intradistrict Transfers$4M 1% Total Revenues - $570M FY 2025-26 v Orange CountySanitation District70thAnniversary Operating Expenses$233M 44% Capital Improvement Program $223M 42% Debt Service $61M 12% Other Requirements $8M 2% 4 Total Revenues - $525M FY 2024-25 Operating Expenses$238M 40%Capital Improvement Program $279M48% Debt Service$60M10% Other Requirements $10M 2% Total Revenues - $587M FY 2025-26 3 4 6/5/2024 3 v Orange CountySanitation District70thAnniversary 5 $534M $526M $532M $570M FY 2 0 2 3 - 2 4 Ad o p t e d FY 2 0 2 3 - 2 4 Pr o j e c t e d FY 2 0 2 4 - 2 5 Pr o p o s e d FY 2 0 2 5 - 2 6 Pr o p o s e d Revenues $564M $669M $525M $587M FY 2 0 2 3 - 2 4 Ad o p t e d FY 2 0 2 3 - 2 4 Pr o j e c t e d FY 2 0 2 4 - 2 5 Pr o p o s e d FY 2 0 2 5 - 2 6 Pr o p o s e d Expenses v Orange CountySanitation District70thAnniversary 6 Planning 4% Design 20% Construction 76%Rehabilitation and Replacement 80% Strategic Initiatives11%Additional Capacity 6% Regulatory 3% $223 Million 5 6 6/5/2024 4 v Orange CountySanitation District70thAnniversary 7 $0 $50 $100 $150 $200 $250 $300 $350 $400 $450 FY 2 4 - 2 5 FY 2 5 - 2 6 FY 2 6 - 2 7 FY 2 7 - 2 8 FY 2 8 - 2 9 FY 2 9 - 3 0 FY 3 0 - 3 1 FY 3 1 - 3 2 FY 3 2 - 3 3 FY 3 3 - 3 4 FY 3 4 - 3 5 FY 3 5 - 3 6 FY 3 6 - 3 7 FY 3 7 - 3 8 FY 3 8 - 3 9 FY 3 9 - 4 0 FY 4 0 - 4 1 FY 4 1 - 4 2 FY 4 2 - 4 3 FY 4 3 - 4 4 Mi l l i o n s Authorized Projects Future Projects v Orange CountySanitation District70thAnniversary 8 $0 $100 $200 $300 $400 $500 $600 $700 2 0 2 4 - 2 5 2 0 2 5 - 2 6 2 0 2 6 - 2 7 2 0 2 7 - 2 8 2 0 2 8 - 2 9 2 0 2 9 - 3 0 2 0 3 0 - 3 1 2 0 3 1 - 3 2 2 0 3 2 - 3 3 2 0 3 3 - 3 4 2 0 3 4 - 3 5 2 0 3 5 - 3 6 2 0 3 6 - 3 7 2 0 3 7 - 3 8 2 0 3 8 - 3 9 2 0 3 9 - 4 0 Mil l i o n s •Total outstanding debt – $606 Million •No new debt planned •All debt to be paid off by 2040 7 8 6/5/2024 5 v Orange CountySanitation District70thAnniversary 9 v Orange CountySanitation District70thAnniversary 10 20 3 3 - 3 4 20 3 2 - 3 3 20 3 1 - 3 2 20 3 0 - 3 1 20 2 9 - 3 0 20 2 8 - 2 9 20 2 7 - 2 8 20 2 6 - 2 7 20 2 5 - 2 6 20 2 4 - 2 5 574540535563651733825849867861Beginning 727702679657638618600579570532Revenues 718668674685726700692603588524Requirements 583574540535563651733825849867Ending $504$487$471$455$440$425$411$397$385$371SFR Rate 3.50%3.50%3.50%3.50%3.50%3.50%3.50%3.50%3.50%3.50%Rate Increases 9 10 6/5/2024 6 v Orange CountySanitation District70thAnniversary •No new debt •Planned cash flow for healthy CIP •Consistent rate increases of 3.5% •Conservative revenue assumptions •Constant monitoring throughout budget cycle 11 v Orange CountySanitation District70thAnniversary 12 January February March April May June Budget Assumptions and Calendar Board Revenues and Reserves Operations Administration Expenditures Operations Administration CIP Operations Administration Proposed 2-Year Budget OperationsAdministration Board Insurance Administration 11 12 6/5/2024 7 Questions? 1954 - 2024 Orange County Sanitation District 70th Anniversary 13 13