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HomeMy WebLinkAboutLate Communication - Item No. 5 PPP Administration Committee - FY24-25 and FY25-26 Budget6/11/2024 1 Proposed FY 24-25 and FY 25-26 Budget Presented by: Ruth Zintzun  Finance and Procurement Manager Administration Committee June 12, 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 6/11/2024 2 v Orange CountySanitation District70thAnniversary Property Taxes $117M 22%Other $10M 2% Interest  $17M 3% Fees and Charges $384M 72% Intradistrict Transfers $4M 1% 3 Total Revenues ‐$532M FY 2024‐25 Property Taxes $120M 21%Other $28M 5% Interest  $17M 3% 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 Expenses ‐$525M FY 2024‐25 Operating Expenses $238M 40%Capital  Improvement  Program $279M 48% Debt Service $60M 10% Other Requirements $10M 2% Total Expenses ‐$587M FY 2025‐26 3 4 6/11/2024 3 v Orange CountySanitation District70thAnniversary 5 $534M $526M $532M $570M FY  20 2 3 ‐24 Ad o p t e d FY  20 2 3 ‐24 Pr o j e c t e d FY  20 2 4 ‐25 Pr o p o s e d FY  20 2 5 ‐26 Pr o p o s e d Revenues $564M $669M $525M $587M FY  20 2 3 ‐24 Ad o p t e d FY  20 2 3 ‐24 Pr o j e c t e d FY  20 2 4 ‐25 Pr o p o s e d FY  20 2 5 ‐26 Pr o p o s e d Expenses v Orange CountySanitation District70thAnniversary 6 Planning 4% Design 20% Construction 76%Rehabilitation and  Replacement 80% Strategic  Initiatives 11% Additional  Capacity 6% Regulatory 3% $223 Million 5 6 6/11/2024 4 v Orange CountySanitation District70thAnniversary 7 $0 $50 $100 $150 $200 $250 $300 $350 $400 $450 FY 2 4 ‐25 FY 2 5 ‐26 FY 2 6 ‐27 FY 2 7 ‐28 FY 2 8 ‐29 FY 2 9 ‐30 FY 3 0 ‐31 FY 3 1 ‐32 FY 3 2 ‐33 FY 3 3 ‐34 FY 3 4 ‐35 FY 3 5 ‐36 FY 3 6 ‐37 FY 3 7 ‐38 FY 3 8 ‐39 FY 3 9 ‐40 FY 4 0 ‐41 FY 4 1 ‐42 FY 4 2 ‐43 FY 4 3 ‐44 Mil l i o n s Authorized Projects Future Projects v Orange CountySanitation District70thAnniversary 8 $0 $100 $200 $300 $400 $500 $600 $700  20 2 4 ‐25  20 2 5 ‐26  20 2 6 ‐27  20 2 7 ‐28  20 2 8 ‐29  20 2 9 ‐30  20 3 0 ‐31  20 3 1 ‐32  20 3 2 ‐33  20 3 3 ‐34  20 3 4 ‐35  20 3 5 ‐36  20 3 6 ‐37  20 3 7 ‐38  20 3 8 ‐39  20 3 9 ‐40 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 6/11/2024 5 v Orange CountySanitation District70thAnniversary 9 v Orange CountySanitation District70thAnniversary 10 20 3 3 ‐34   20 3 2 ‐33   20 3 1 ‐32   20 3 0 ‐31   20 2 9 ‐30   20 2 8 ‐29   20 2 7 ‐28   20 2 6 ‐27   20 2 5 ‐26   20 2 4 ‐25   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 6/11/2024 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 Operations Administration Board Insurance Administration 11 12 6/11/2024 7 Questions? 1954 - 2024 Orange County Sanitation District 70th Anniversary 13 13