HomeMy WebLinkAbout1979 09 20 Workshop
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THE LEEDY CORPORATION
CNA BUILDING, SUITE 1150
255 SOUTH ORANGE AVENUE
ORL.ANDO, FL.ORIDA 32801
MUNICIPAL FINANCIERS
TELEPHONE 305/423-3464
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Actual Net Re~enue - January through April, 1979
$105,296.13
Average Water Equivalent Residential Connections (ERCs) Dec. '78 - Mar.' 79 - 2,447
Average Sewer Equivalent Residential Connections (ERCs) Dec. '78 - Mar. '79 - 2,259
12 months 12-31-78 Total Expenses 40.4563% Water
12 months 12-31-78 Total Expenses 59.5437% Sewer
Therefore:
Water Revenue - January through April, 1979
Water Expense - January through April, 1979
Water Net Revenue - January through April, 1979
$ 88,695.03
-46,951. 94
$ 41,743.09
$41,743.09 ~ 2,447 ERCs = $17.0588 x 3 = $51.17 annual net revenue
per water ERC.
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Sewer Revenue - January through April, 1979
Sewer Expense - January through April, 1979
Sewer Net Revenue - January through April, 1979
$132,657.04
-69,104.00
$ 63,553.04
$63,553.04 7 2,259 ERCs = $28.1332 x 3 = $84.39 annual net revenue
per sewer ERC.
Assume:
Water ERCs at 1/111980 are 2,662 x $51.17 =
Sewer ERCs at 1/1/1980 are 2,480 x $84.39 =
Net Revenue 1979
$136,214.54
209,287.20
$345,501.74
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First Bond Issue - $3,190,000
II
Net Revenue Annualized - $345,501.74 : 1.3 (coverage factor) =
$265,770.56 ~ .083297 = $3,190,000
Funds Required
Reserve Account
Legal & Financing
Working Capital
Engineer & Contingency
$265,770
113,750
57,112
28,358
$465,000
Deliver to North Orlando Water and Sewer Corporation - $2,725,000
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III
Future ERCs
Water Capacity
Assume Water ERCs 1/1/80
Future Water ERCs
4,857
2,662
2,195
Sewer Capacity
Assume Sewer ERCs 1/1/80
Future Sewer ERCs
4,857
2,480
2,377
First Bond Issue ($3,190,000) nets $2,725,000 to North Orlando Water & Sewer Corporation
Assume asking price of $4,856,472
e Balance due: $2,131,472 (37.33% water/62.67% sewer)
Water $ 795,678 , 2,195 = $362.50 each water ERC must pay
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Sewer 1,335,794 . 2,377 = $561. 97 each sewer ERC must pay
,
$2,131,472
Water net of $51.17 . 1.3 = $39.36 .083297 can pay $472.52 P/ERC
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Sewer net of $84.39 :; 1.3 = $64.91 ~ .083297 can pay $779.25 P/ERC
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IV
Total Bond Issue
$5,660,000
Funds Required
North Orlando Water & Sewc'r Corporation
Reserve Account
Legal & Financing
Working Capital
SSES ~'1 -~
Sale of Assets
Engineer & Contingency
$4,856,472
471,461
200,210
108,794
50,000
( 80,000)
53,063
$5,660,000
Financing
4,857 water ERC's @ net of $51.17 =
4,857 sewer ERC's @ net of $84.39 =
$248,532.69
409,882.23
$658,414.92
$658,414.92 7 1.3 = $506,473 ~ .083297 = $6,080,327
75 + . /;
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Connection Fees
Currently, hook-up charges to the Water and Sewer system are as follows:
Water
Sewer
$190.00 (net)
$315.00 (net)
The Water system will need to be expanded when connections reach 3,800, its
present capacity. This expansion would be financed by connection fees received
from new customers hooking up to the system.
Assuming, at 1/1/1980, there will be 2,662 water connections and 2,480 sewer
connections, the system will have added 1,138 water and sewer customers by the time
expansion is needed. By then, the System will have taken in the following amount
of funds:
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1,138 Water x $190.00 =
1,138 Sewer x $315.00 =
Total
$216,220
358,470
$574,690
Should the expansion cost more than $574,690, the City could presumedly
borrow the additional funds from local banks and repay the loan from future
connection fees.
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NORTH ORLfu~DO WATER AND SEWER CORPORATION
OPERATING RESULTS
JULY 1977 THROUGH JUNE 1979
Operating
Expenses-
Water Sewer Total Excluding Net
Month Revenue Revenue Revenue Depreciation Revenue
1977 July $ 14,799.31 $ 19,627.61 $ 34,426.92 $ 20,132.11 $ 14,294.81
1977 Aug. 12,158.09 19,853.51 32,01l.60 29,278.62 2,732.98
1977 Sept. 12,233.63 20,549.93 32,783.56 18,966.17 13,817.39
1977 Oct. 13,517.51 20,988.78 34,506.29 34,398.61 107.68
1977 Nov. 13,230.10 21,484.15 34,714.25 19,873.30 14,840.95
1977 Dec. 12,277.90 21,654.88 33,932.78 27 ,430.12 6,502.66
1978 Jan. 12,586.17 22,241. 80 34,827.97 25,174.11 9,653.86
1978 Feb. 12,175.43 22,364.08 34,539.51 25,509.36 9,030.15
1978 Mar. 12,128.12 22,487.27 34,615.39 20,212.85 14,402.54
1978 Apr. 19,351.47 23,276.82 42,628.29 29,467.64 13 , 160 . 65
1978 May 19,273.90 23,419.78 42,693.68 26,760.71 15,932.97
1978 June 18,951. 05 23,810.86 42,761. 91 28,723.13 14,038.78
12 month Totals $172,682.68 $261,759.47 $434,442.15 $305,926.73 $128,515.42
1978 July $ 15,923.62 $ 24,100.34 $ 40,023.96 $ 33,247 . 77 $ 6,776.19
1978 Aug. 15,996.74 26,142.01 42,138.75 23,554.89 18,583.86
1978 Sept. 22,234.94 29,773.86 52,008.80 28,923.08 23,085.72
1978 Oct. 21,930.62 31,086.34 53,016.96 36,355.57 16,661.39
1978 Nov. 21,616.33 31,508.57 53,124.90 23,813.97 29,310.93
1978 Dec. 22,255.82 32,811.11 55,066.93 26,909.68 28,157.25
1979 Jan. 20,850.63 31,241. 34 52,091.97 25,194.34 26,897.63
1979 Feb. 19,617.37 32,037.82 51,655.19 27,959.02 23,696.17
1979 Mar. 21,100.81 33,292.22 54,393.03 32,797.05 21,595.98
1979 Apr. 27,126.22 36,085.66 63,211.88 30,105.53 33,106.35
1979 May 32,750.05 38,565.64 71,315.69 30,798.88 40,516.81
1979 June 27,443.70 35,280.82 62,724.52 32,159.85 30,564.67
12 month Totals $268,846.85 $381,925.73 $650,772.58 $351,819.63 $298,952.95
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Equivalent
Residential Connections
Water Sewer
1,654 1,551
1,690 1,587
1,748 1,645
1,779 1,676
1,831 1,728
1,855 1,704
1,894 1,762
1,930 1,791
1,939 1,797
1,975 1,819
2,022 1,857
2,206 2,040
2,255
2,278
2,297
2,333
2,370
2,410
2,436
2,457
2,486
2,520
2,529
2,537
2,081
2,102
2, 118
2,151
2,190
2,223
2,245
2,271
2,298
2,330
2,338
2,355
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NORTH ORLANDO WATER AND SEWER CORPORATION
GALLONS OF WATER PUMPED
('OOOs omitted)
1978 1977 1976
Ga lIons % of Ga Hons % of Gallons % of
Month Pumped Entire Year Pumped Entire Year Pumped Entire Year
Jan. 11 ,843 5.6 13,566 6.3 10,629 7.1
Feb. 9,326 4.4 12,823 5.9 11,952 8.0
Mar. 18,559 8.8 18,699 8.6 12,457 8.3
Apr. 26,888 12.7 26,099 12.0 16,742 11.2
May 25,282 12.0 30,565 14.1 18,453 12.3
June 18,656 8.8 21,935 10.1 11,129 7.4
July 19,170 9.1 20,881 9.6 11 ,382 7.6
Aug. 16,730 8.0 18,049 8.3 12,137 8.1
Sept. 16,563 7.9 21,211 9.8 11,821 7.9
Oct. 15,707 7.4 13,538 6.2 10,574 7.1
Nov. 16,386 7.8 10,792 5.0 11,599 7.8
Dec. 15,895 7.5 8,794 4.1 10,695 7.2
Totals 211,005 100 % 216,952 100 % 149,570 100 %
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