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Home My WebLink About2009-06-23_STUDY SESSIONg J CITY OF EDINA STREET LIGHT UTILITY FEASIBILITY STUDY Operations Only With REF Charge INCOME STATEMENT 337,680 $ 354,564 $ . Revenues: Annual rate increase= 5.0% - 3,150 2010 Qtrly fee acts /acres /REF Single Family $ 6.00 13,400 $ Duplex/TH $ 4.50 175 Multifamily /Apts $ 3.00 8,000 Commercial $ 2.00 14,000 Interest income 9,581 _ Total Revenues 12,834 $ Expenses: Salaries & benefits Contracted services (electric) Commodities Depreciation Total Expenses NET INCOME (LOSS): CASH FLOWS Net income Depreciation Capital improvements Bond proceeds Bond payments NET CASH FLOW Beginning Cash Ending Cash Target cash (50% of revenue) Actual cash over (under) target 2009 2010 2011 2012 2013 2014 - $ 321,600 $ 337,680 $ 354,564 $ . 372,292 $ 390,907 - 3,150 3,308 3,473 3,647 3,829 - 96,000 100,800 105,840 111,132 116,689 - 112,000 117,600 123,480 129,654 136,137 - - 9,581 10,527 11,608 12,834 - $ 532,750 $ 568,969 $ 597,884 $ 628,333 $ 660,396 increase 273,750 $ 27,029 $ 30,866 1 35,043 $ 39,583 $ = $ 3.0% $ - $ 35,000 $ 72,100 $ 74,263 $ 76,491 $ 78,786 5.0% - 210,000 331,645 ' 441,000 366,688 463,050 406,271 486,203 266,375 510,513 3.0% - 14,000 $ 28,840 $ 29,705 $ - $ 30,596 $ 31,514 $ - $ 259,000 $ 541,940 $ 567,018 $ 593,290 $ 620,813 $ - $ 273,750 $ 27,029 $ 30,866 $ 35,043 $ 39,583 $ - $ 273,750 $ 27,029 $ 30,866 $ 35,043 $ 39,583 $ - $ 273,750 $ 27,029 $ 30,866 1 35,043 $ 39,583 $ = $ - $ 273,750 $ 300,779 $ 331,645 $ 366,688 $ - $ 273,750 $ 300,779 $ 331,645 ' $ 366,688 $ 406,271 $ - $ 266,375 $ 284,485 $ 298,942 $ 314,167 $ 330,198 $ - $ 7,375 $ 16,294 $ 32,703 $ 52,521 $ 76,073 G: \Utility Billing \Streetlight utility \Street lights feasibility study.xls 6/19/2009 CITY OF EDINA STREET LIGHT UTILITY FEASIBILITY STUDY Operations and Capital INCOME STATEMENT 6,678 7,079 Revenues: Annual rate increase= 6.0% - 192,000 2010 Qtrly fee acts /acres /REF Single Family $ 12.00 13,400 $ Duplex/TH $ 9.00 175 Multifamily /Apts $ 6.00 8,000 Commercial $ 2.00 14,000 Interest income 628,922 $ 728,522 $ Total Revenues 904,385 $ Expenses: Salaries & benefits Contracted services (electric) Commodities Depreciation Total Expenses NET INCOME (LOSS): CASH FLOWS Net income Depreciation Capital improvements Bond proceeds Bond payments NET CASH FLOW Beginning Cash Ending Cash Target cash (50% of revenue) Actual cash over (under) target 2009 2010 2011 2012 2013 2014 $ 643,200 $ 681,792 $ 722,700 $ 766,061 $ 812,025 - 6,300 6,678 7,079 7,503 7,954 - 192,000 203,520 215,731 228,675 242,396 - 112,000 118,720 125,843 133,394 141,397 - (12) 20,737 22,388 23,564 30,428 $ 953,488 $ 1,031,447 $ 1,093,741 $ 1,159,197 $ 1,234,200 increase 3.0% $ - $ 35,000 $ 72,100 $ 74,263 $ 76,491 $ 78,786 5.0% - 210,000 441,000 463,050 486,203 510,513 3.0% - 14,000 28,840 29,705 30,596 31,514 - 32,030 86,982 161,504 229,892 283,572 $ - $ 291,030 $ 628,922 $ 728,522 $ 823,182 $ 904,385 $ - $ 662,458 $ 402,525 $ 365,219 $ 336,015 $ 329,815 $ - $ 662,458 $ 402,525 $ 365,219 $ 336,015 $ 329,815 32,030 86,982 161,504 229,892 283,572 (640,590) (1,099,040) (1,490,440) (1,367,760) (1,073,600) (1,356,880) 640,250 1,083,500 1,280,500 1,280,500 1,280,500 1,280,500 - (86,125) . (232,395) (405,874) (576,684) (745,655) $ (340) $ 592,823 $ 47,172 $ 33,589 $ 196,123 $ (208,648) - $ (340) $ 592,483 $ 639,655 $ 673,244 $ 869,367 (340) $ 592,483 $ 639,655 $ 673,244 $ 869,367 $ 660,719 - $ 476,744 $ 515,724 $ 546,871 $ 579,599 $ 617,100 (340) $ 115,739 $ 123,931 $ 126,373 $ 289,768 $ 43,619 G: \Utility Billing \Streetlight utility \Street lights feasibility study.xls 6/19/2009 CITY OF EDINA STREET LIGHT UTILITY FEASIBILITY STUDY Rate Comparison G: \Utility Billing \Streetlight utility \Street lights feasibility study.xis 6/19/2009 Duplex Single Townhome Multifamily Family (per unit) (per unit) Edina (with capital) $ 12.00 $ 9.00 $ 6.00 Duluth $ 10.50 Oakdale $ 10.00 Stillwater $ 8.00 Waconia $ 7.95 $ 7.95 Burnsville $ 7.59 Shoreview $ 6.67 $ 6.67 $ 5.00 Woodbury $ 6.10 Edina (operating only) $ 6.00 $ 4.50 $ 3.00 Eagan $ 5.85 $ 5.48 Brooklyn Park $ 5.75 $ 4.00 Maple Grove $ 5.60 South St. Paul $ 5.50 $ 4.00 $ 2.50 Apple Valley $ 4.92 Brooklyn Center $ 3.65 G: \Utility Billing \Streetlight utility \Street lights feasibility study.xis 6/19/2009 CITY OF EDINA STREET LIGHT UTILITY FEASIBILITY STUDY Example Commercial Bills Operations Only Charge Account Name REF Acres with REF 112400009 Southdale 13.5 79.84 $ 2,156 345038005 Filmtec 13.5 20.6 $ 556 113302006 Target 13.5 14.87 $ 401 111900015 Fairview Southdale 13.5 13.17 $ 356 305198005 Interlachen Country Club 0.75 168 $ 252 342163054 Colonial Church 8 14.78 $ 236 150850031 Edina High School 3 30.05 $ 180 342236002 Countryside School 3 12.25 $ 74 202145008 Wooddale Church 8 2.24 $ 36 192000032 Yorkdale Shoppes 13.5 0.61 $ 16 200812004 Edina Realty 13.5 0.37 $ 10 290457023 Brueggers Bagels 13.5 0.21 $ 6 G: \Utility Billing \Streetlight utility\Street lights feasibility study.xls 6/19/2009