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Wastewater Fund Management and Loan Debt Analysis

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Analyzing wastewater fund revenue and expenses, loan debts, and available amounts for projects. Maintaining financial balance without rate increases. Assessment of loan payment options for wastewater projects.

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Wastewater Fund Management and Loan Debt Analysis

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  1. Wastewater Fund

  2. Wastewater Revenue • 2008 - $296,885.17

  3. Wastewater Revenue • 2008 - $296,885.17 • 2009 - $315,380.07

  4. Wastewater Revenue • 2008 - $296,885.17 • 2009 - $315,380.07 • 2010 - $309,862.46

  5. Wastewater Revenue • 2008 - $296,885.17 • 2009 - $315,380.07 • 2010 - $309,862.46 • 2011 - $308,800.00 (Estimated)

  6. Wastewater Revenue Average Revenue for the past four Years $307,731.93

  7. Wastewater Expenses • 2008 - $384,383.35

  8. Wastewater Expenses • 2008 - $384,383.35 • 2009 - $349,097.15

  9. Wastewater Expenses • 2008 - $384,383.35 • 2009 - $349,097.15 • 2010 - $328,647.76

  10. Wastewater Expenses • 2008 - $384,383.35 • 2009 - $349,097.15 • 2010 - $328,647.76 • 2011 - $320,066.16 (Estimated)

  11. Wastewater Expenses Average Expenses for the Past Four Years $345,548.61

  12. Wastewater Fund Average Revenue Average Expenses $307,731.93 $345,548.61 Average Difference Per Year $37,816.68 Average Over Spent Per Year 11%

  13. Wastewater Fund Average Revenue Average Expenses $307,731.93 $345,548.61 Average Difference Per Year $37,816.68 Average Over Spent Per Year 11% The fund will balance with no increase in rates as long as no capital projects are paid for from the fund.

  14. Loan Debt • Current Loan Debt – • $102,988.96 Wastewater Plant (pay off date January 2012)

  15. Loan Debt • Current Loan Debt – • $102,988.96 Wastewater Plant (pay off date January 2012) • $12,500.00 Storm Sewer Project (pay off July 2012)

  16. Loan Debt • Current Loan Debt – • $102,988.96 Wastewater Plant (pay off date January 2012) • $12,500.00 Storm Sewer Project (pay off July 2012) • $13,255.00 East Main Street Project (pay off date July 2025)

  17. Loan Debt • Current Loan Debt – • $102,988.96 Wastewater Plant (pay off date January 2012) • $12,500.00 Storm Sewer Project (pay off July 2012) • $13,255.00 East Main Street Project (pay off date July 2025) • $2,250.00 East Main Street Project (pay off date July 2025)

  18. Loan Debt • Current Loan Debt – • $102,988.96 Wastewater Plant (pay off date January 2012) • $12,500.00 Storm Sewer Project (pay off July 2012) • $13,255.00 East Main Street Project (pay off date July 2025) • $2,250.00 East Main Street Project (pay off date July 2025) Total Loan Debt in Wastewater Fund = $130,993.96

  19. Loan Debt • Current Loan Debt – • $102,988.96 Wastewater Plant (pay off date January 2012) • $12,500.00 Storm Sewer Project (pay off July 2012) • $13,255.00 East Main Street Project (pay off date July 2025) • $2,250.00 East Main Street Project (pay off date July 2025) Total Loan Debt in Wastewater Fund = $130,993.96 Total Annual Loan Debt Payment January 2013= $15,505

  20. Loan Debt • Current Loan Debt – • $102,988.96 Wastewater Plant (pay off date January 2012) • $12,500.00 Storm Sewer Project (pay off July 2012) • $13,255.00 East Main Street Project (pay off date July 2025) • $2,250.00 East Main Street Project (pay off date July 2025) Total Loan Debt in Wastewater Fund = $130,993.96 Total Annual Loan Debt Payment January 2013= $15,505 Loan Amount Available for Two Projects $115,488.96

  21. Wastewater Projects Wastewater Plant (Included – water plant sewer line to sanitary sewer) • Total Cost - $3,175,000 (Bid Amount) • Grants - $900,000 (OPWC $400,000 & CDBG $500,000) • Loan Amount - $2,275,000 (EPA 0% loan for 20 years)

  22. Wastewater Projects Wastewater Plant (Included – water plant sewer line to sanitary sewer) • Total Cost - $3,175,000 (Bid Amount) • Grants - $900,000 (OPWC $400,000 & CDBG $500,000) • Loan Amount - $2,275,000 (EPA 0% loan for 20 years) Annual Loan Payment $113,750

  23. Wastewater Projects Wastewater Plant (Included – water plant sewer line to sanitary sewer) Sewer Separation Total Cost - $1,400,000 (Engineer Estimate) Grants - $280,000 (CDBG NR $200,000 & CDBG Formula $80,000) Loan Amount - $1,120,000 • Total Cost - $3,175,000 (Bid Amount) • Grants - $900,000 (OPWC $400,000 & CDBG $500,000) • Loan Amount - $2,275,000 (EPA 0% loan for 20 years) Annual Loan Payment $113,750

  24. Wastewater Projects Wastewater Plant (Included – water plant sewer line to sanitary sewer) Sewer Separation Total Cost - $1,400,000 (Engineer Estimate) Grants - $280,000 (CDBG NR $200,000 & CDBG Formula $80,000) Loan Amount - $1,120,000 Annual Loan Payment Option 1(EPA 20 years, 0%) $56,000 • Total Cost - $3,175,000 (Bid Amount) • Grants - $900,000 (OPWC $400,000 & CDBG $500,000) • Loan Amount - $2,275,000 (EPA 0% loan for 20 years) Annual Loan Payment $113,750

  25. Wastewater Projects Wastewater Plant (Included – water plant sewer line to sanitary sewer) Sewer Separation Total Cost - $1,400,000 (Engineer Estimate) Grants - $280,000 (CDBG NR $200,000 & CDBG Formula $80,000) Loan Amount - $1,120,000 Annual Loan Payment Option 1(EPA 20 years, 0%) $56,000 Option 2 (OPWC 30 years, 0%) $37,400 • Total Cost - $3,175,000 (Bid Amount) • Grants - $900,000 (OPWC $400,000 & CDBG $500,000) • Loan Amount - $2,275,000 (EPA 0% loan for 20 years) Annual Loan Payment $113,750

  26. Wastewater Projects Available Annual Loan Amount $115,488.96

  27. Wastewater Projects Available Annual Loan Amount $115,488.96 Annual Loan Amount for Two Sewer Projects Option 1 $169,750 (over by $54,261)

  28. Wastewater Projects Available Annual Loan Amount $115,488.96 Annual Loan Amount for Two Sewer Projects Option 1 $169,750 (over by $54,261) Option 2 $151,150 (over by $35,661)

  29. Wastewater Projects • Sewer Separation Project – Village contribution- • $266,984 Sewer Fund (funds would come from paid off loans $166,984, only if new loan payments begin January 2014. The remainder would come from Capital Cash Reserve, $100,000 remaining balance in capital cash reserve would be approximately $118,000) • $30,000 Street Fund (amount would come from Capital Cash Reserve) • $15,016 Water Fund (amount would come from Capital Cash Reserve) Total Village Contribution = $312,000

  30. Wastewater Projects Loan Before Village Contribution Loan Amount - $1,120,000 Annual Loan Payment Option 1 (EPA 20 years, 0%) $56,000 Option 2 (OPWC 30 years, 0%) $37,400

  31. Wastewater Projects Loan Before Village Contribution Loan After Village Contribution Loan Amount - $808,000 Annual Loan Payment Option 1 (EPA 20 years, 0%) $40,400 Option 2 (OPWC 30 years, 0%) $26,934 Loan Amount - $1,120,000 Annual Loan Payment Option 1 (EPA 20 years, 0%) $56,000 Option 2 (OPWC 30 years, 0%) $37,400

  32. Wastewater Projects Loan Before Village Contribution Loan After Village Contribution Loan Amount - $808,000 Annual Loan Payment Option 1 (EPA 20 years, 0%) $40,400 Option 2 (OPWC 30 years, 0%) $26,934 Total Debt of $140,684 Loan Amount - $1,120,000 Annual Loan Payment Option 1 (EPA 20 years, 0%) $56,000 Option 2 (OPWC 30 years, 0%) $37,400

  33. Wastewater Projects Loan Before Village Contribution Loan After Village Contribution Loan Amount - $808,000 Annual Loan Payment Option 1 (EPA 20 years, 0%) $40,400 Option 2 (OPWC 30 years, 0%) $26,934 Total Debt of $140,684 Over by $25,195.04 Loan Amount - $1,120,000 Annual Loan Payment Option 1 (EPA 20 years, 0%) $56,000 Option 2 (OPWC 30 years, 0%) $37,400

  34. Wastewater ProjectsBest Situation EPA 20 Year Loan 0% Loan Amount - $808,000 Annual Loan Payment $40,400

  35. Wastewater ProjectsBest Situation EPA 20 Year Loan 0% EPA 20 Year Loan 0%, Principle Forgiveness Loan Amount - $808,000 25% Principle Forgiveness $808,000 X .25 = $202,000 Annual Loan Payment = $30,300 Loan Amount - $808,000 Annual Loan Payment $40,400

  36. Wastewater ProjectsBest Situation EPA 20 Year Loan 0% EPA 20 Year Loan 0%, Principle Forgiveness Loan Amount - $808,000 25% Principle Forgiveness $808,000 X .25 = $202,000 Annual Loan Payment = $30,300 50% Principle Forgiveness $808,000 X .50 = $404,000 Annual Loan Payment = $20,200 Loan Amount - $808,000 Annual Loan Payment $40,400

  37. Wastewater ProjectsBest Situation EPA 20 Year Loan 0% EPA 20 Year Loan 0%, Principle Forgiveness Loan Amount - $808,000 25% Principle Forgiveness $808,000 X .25 = $202,000 Annual Loan Payment = $30,300 50% Principle Forgiveness $808,000 X .50 = $404,000 Annual Loan Payment = $20,200 75% Principle Forgiveness $808,000 X .75 = $606,000 Annual Loan Payment = $10,100 Loan Amount - $808,000 Annual Loan Payment $40,400

  38. Increase to Sewer Rates • $169,750 – $115,489 = $54,261 / 750 = $72.35 / 12 = $6.03 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with no Village Funds

  39. Increase to Sewer Rates • $169,750 – $115,489 = $54,261 / 750 = $72.35 / 12 = $6.03 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with no Village Funds • $151,150 – $115,489 = $35,661 / 750 = $47.55 / 12 = $3.97 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OPWC 30 Year 0% Loan with no Village Funds

  40. Increase to Sewer Rates • $169,750 – $115,489 = $54,261 / 750 = $72.35 / 12 = $6.03 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with no Village Funds • $151,150 – $115,489 = $35,661 / 750 = $47.55 / 12 = $3.97 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OPWC 30 Year 0% Loan with no Village Funds • $154,150 – $115,489 = $38,661 / 750 = $51.55 / 12 = $4.30 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with Village Funds

  41. Increase to Sewer Rates • $169,750 – $115,489 = $54,261 / 750 = $72.35 / 12 = $6.03 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with no Village Funds • $151,150 – $115,489 = $35,661 / 750 = $47.55 / 12 = $3.97 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OPWC 30 Year 0% Loan with no Village Funds • $154,150 – $115,489 = $38,661 / 750 = $51.55 / 12 = $4.30 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with Village Funds • $140,684 – $115,489 = $25,196 / 750 = $33.60 / 12 = $2.80 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OPWC 30 Year 0% Loan with Village Funds

  42. Increase to Sewer Rates • $169,750 – $115,489 = $54,261 / 750 = $72.35 / 12 = $6.03 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with no Village Funds • $151,150 – $115,489 = $35,661 / 750 = $47.55 / 12 = $3.97 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OPWC 30 Year 0% Loan with no Village Funds • $154,150 – $115,489 = $38,661 / 750 = $51.55 / 12 = $4.30 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with Village Funds • $140,684 – $115,489 = $25,196 / 750 = $33.60 / 12 = $2.80 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OPWC 30 Year 0% Loan with Village Funds • $144,050 – $115,489 = $28,562 / 750 = $38.10 / 12 = $3.18 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with Village Funds and 25% principle forgiveness

  43. Increase to Sewer Rates • $169,750 – $115,489 = $54,261 / 750 = $72.35 / 12 = $6.03 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with no Village Funds • $151,150 – $115,489 = $35,661 / 750 = $47.55 / 12 = $3.97 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OPWC 30 Year 0% Loan with no Village Funds • $154,150 – $115,489 = $38,661 / 750 = $51.55 / 12 = $4.30 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with Village Funds • $140,684 – $115,489 = $25,196 / 750 = $33.60 / 12 = $2.80 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OPWC 30 Year 0% Loan with Village Funds • $144,050 – $115,489 = $28,562 / 750 = $38.10 / 12 = $3.18 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with Village Funds and 25% principle forgiveness • $133,950 – $115,489 = $18,461 / 750 = $24.61 / 12 = $2.05 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate IncreaseOEPA 20 Year 0% Loan with Village Funds and 50% principle forgiveness

  44. Increase to Sewer Rates • $169,750 – $115,489 = $54,261 / 750 = $72.35 / 12 = $6.03 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with no Village Funds • $151,150 – $115,489 = $35,661 / 750 = $47.55 / 12 = $3.97 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OPWC 30 Year 0% Loan with no Village Funds • $154,150 – $115,489 = $38,661 / 750 = $51.55 / 12 = $4.30 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with Village Funds • $140,684 – $115,489 = $25,196 / 750 = $33.60 / 12 = $2.80 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OPWC 30 Year 0% Loan with Village Funds • $144,050 – $115,489 = $28,562 / 750 = $38.10 / 12 = $3.18 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with Village Funds and 25% principle forgiveness • $133,950 – $115,489 = $18,461 / 750 = $24.61 / 12 = $2.05 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate IncreaseOEPA 20 Year 0% Loan with Village Funds and 50% principle forgiveness • $123,850 – $115,489 = $8,361 / 750 = $11.14 / 12 = $0.93 (Combined Loan Amount) –(Targeted Loan Level) = (Difference) / (Number of Customers) = (Annual rate Increase / (Months in Year) = Monthly Rate Increase OEPA 20 Year 0% Loan with Village Funds and 75% principle forgiveness

  45. Questions?

  46. Water Fund

  47. Water Revenue • 2008 - $279,920.30

  48. Water Revenue • 2008 - $279,920.30 • 2009 - $283,622.36

  49. Water Revenue • 2008 - $279,920.30 • 2009 - $283,622.36 • 2010 - $278,530.51

  50. Water Revenue • 2008 - $279,920.30 • 2009 - $283,622.36 • 2010 - $278,530.51 • 2011 - $278,000.00 (Estimated)

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