Fort Walton Beach Resolution — 2009-14-Funding for Hurlburt Reuse — reading text

Total Non-SRF TotalSRF Fiscal a1 + Interest) Annual Debt Service ( Princit> Debt Service Debt Service w/coverage w/coveray,e Year 1# 2# 3# 4# 5# 6 . 2007 154, 504 N/A 289, 013 N/A 461, 994 905, 511 0 2008 158, 555 N/A 291, 050 N/A 461, 994 911, 599 0 2009 157,195 N/A 292, 400 N/A 461, 994 911, 589 0 2010 155, 533 N/ A 289, 226 N/A 621, 994 1, 066, 753 0 2011 153, 563 N/ A 289, 294 622, 034 1, 064, 891 0 2012 721, 672 721, 672 0 2013 722, 559 722, 559 0 2014 722,759 722, 759 0 722, 247 722, 24' 0 720, 997 720,997 0 2017 719, 372 719, 372 0 2018 721, 572 721, 572 0 2019 723. 172 723, 172 0 2020 724, 172 724, 172 0 2021 724, 115 724, 115 0 2022 723, 440 723,440 0 2023 721, 850 721, 850 0 2024 719,425 719. 425 0 2025 721, 363 721, 363 0 2026 722,450 722, 4~ 0 0 2027 721, 435 721, 435 0 2028 719, 515 719, 515 0 2029 721, 690 721, 690 0 2030 722, 735 722,735 0 2031 722, 650 722, 650 0 2032 721, 550 721, 550 0 724,325 724, 325 0 0 720, 750 720, 750 0 2035 721, 050 721, 050 0 39- Revised: 01/19/ 06  SCHEDULE OF ACTUAL REVENUES AND DEBT COVERAGE FOR PLEDGED REVENUE Provide information for the two fiscal years preceding the anticipated date of the SRF loan agreement) 0 FY106- 0~ FY107- osl a) Operating Revenues ( Identify) Water Consumption Fees 2, 492, 378 2, 271, 189 Sewer Usage Fees 4, 162, 172 3, 984,282 b) Interest Income 352,339 358, 045 c) Other Incomes or Revenues Identify) Water & Sewer Connection Fees 148, 709 46, 032 Water & Sewer Impact Fees 114, 162 82, 009 d) Total Revenues 7,269, 760 6, 741, 557 e) Operating Expenses ( excluding interest on debt, depreciation, and other non- cash items) 4, 173, 980 4, 206, 922 0 f) Net Revenues ( f =d - e) 3, 095,780 2, 534, 635 g) Debt Service ( including coverage) Excluding SRF Loans 905, 511 911, 599 h) Debt Service ( including coverage) for Outstanding SRF Loans 0 0 i) Net Revenues After Debt Service ( i = f - g - h) 2, 190, 269 1, 623, 036 Source: City of Fort Walton Beach FY 2006- 07 & FY 2007- 08 Annual Budgets Notes: o Revised: 01/19/ 06 40-  SCHEDULE OF PROJECTED REVENUES AND DEBT COVERAGE FOR PLEDGED REVENUE c Begin with the fiscal year preceding first anticipated semiannual loan payment) FY 08- 09 FY 09- 10 FY 10- 11 FY 11- 12 FY 12- 13 a) Operating Revenues Identify) Water Consumption Fees 2, 299,332 2, 374,777 2,446, 020 2, 519,400 2, 594, 982 Sewer Usage Fees 3, 839, 558 4, 029, 349 4, 147, 140 4, 271, 554 4, 399,701 b) Interest Income 224, 103 220, 000 220, 000 230, 000 250,000 c) Other Incomes or Revenues (Identify) Water & Sewer Connection Fees 113, 995 127, 200 127,200 127, 200 127, 200 Water & Sewer Impact Fees 57, 175 85, 000 85, 000 85, 000 85, 000 d) Total Revenues 6, 534, 163 6, 836, 326 7, 025, 360 7, 233, 154 7,456, 883 e) Operating Expensesl 3, 652, 155 4, 673, 192 5, 807, 253 6, 171, 894 6, 565, 531 f) Net Revenues f =d - e) 2, 882, 008 2, 163, 134 1, 218, 107 1, 061, 260 891, 352 g) Existing Debt Service on Non-SRF Projects ( including coverage) 911, 589 1, 066,753 1, 064, 891 721, 672 722, 559 C(h) Existing SRF Loan Debt Service ( including coverage) 0 i) Total Existing Debt Service i = g + h) 911, 589 1, 066,753 1, 064, 891 721, 672 722, 559 G) Proj ected Debt Service on Non- SRF Future Projects including coverage) k) Proj ected SRF Loan Debt Service ( including coverage) 168,438 168, 438 168, 438 168, 438 168, 438 I) Total Debt Service (Existing and Projected) i +j + k) 1, 080, 027 1, 235,191 1, 233, 329 890, 110 890,997 l = m) Net Revenues Mter Debt Service (m = f - I) 1, 801, 981 927,943 15,222 171, 150 355 Source: City of Fort Walton Beach FY 2008- 09 Annual Budget Proforma with Five- Year Revenue Proj ections Notes: ( i.e. rate increases, explanations, etc.) 1. For existing and proposed facilities, excluding interest on debt, depreciation, and other non-cash items. 2. The City is budgeted to have a rate study completed in FY 2008- 09 or FY 2009- 10. From the rate study, out year rate increases will be implemented. 3. Increase in operating expenses in FY 2009- 10 through FY 2012- 13 account for user fees to Okaloosa County for providing wastewater treatment and disposal services to the City starting in early 2010. 4. The above numbers do not include the rate increases that will be implemented as a result of the rate study; the Net Revenue after Debt will increase due to these adjustments. Revised: 01119/ 06 41-  CERTIFICATION o I, Brandy Wunker, Finance Director certify that I have reviewed the infonnation Chief Financial Officer (please print) included in the preceding capital financing plan worksheets, and to the best of my knowledge, this infonnation accurately reflects the financial capability of the City of Fort Walton Beach Proj ect Sponsor I further certify that the City of Fort Walton Beach has the financial capability to ensure