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HomeMy WebLinkAboutWater Rates Analysis Report - 4/16/2008JAY 'Fo �7]1 0 0 L-LO Vq 11 ......... Town of Oro Valley Water Utility Commission Water Rates Analysis Report April 16, 2008 r, TOWN OF ORO VALLEY WATER UTILITY COMMISSION WATER RATES ANALYSIS REPORT APRIL 16, 2008 ORO VALLEY TOWN COUNCIL Paul Loomis, Mayor Al Kunisch, Vice Mayor Paula Abbott, Council Member K.C. Carter, Council Member Helen Dankwerth, Council Member Barry Gillaspie, Council Member Terry Parish, Council Member ORO VALLEY WATER UTILITY COMMISSION Dave Powell, Chair Winston Tustison, Vice Chair Richard Davis, Commissioner John Hoffmann, Commissioner Robert Milkey, Commissioner Elizabeth Shapiro, Commissioner TOWN STAFF David Andrews, Town Manager Jerene Watson, Assistant Town Manager Philip C. Saletta, P.E., Water Utility Director Shirley Seng, Water Utility Administrator Stacey Lemos, Finance Director Art Cuaron, Finance Analyst TABLE OF CONTENTS SECTION TITLE PAGE Index of Appendices i List of Acronyms ii Executive Summary 1 Introduction 3 Enterprise Fund 4 Alternative Water Resources Development Impact Fee Fund 6 Potable Water System Development Impact Fee Fund 8 Preferred Financial Scenario 10 Recommendation on Water Rates, Fees & Charges 12 Meter Installation Fees 14 Convenience Fees 15 Alternate Financial Scenario 16 Conclusion 17 Appendices INDEX OF APPENDICES APPENDIX A. Assumptions for Preferred Financial Scenario A-1 Enterprise Fund A-3 Alternative Water Resources Development Impact Fee Fund A-4 Potable Water System Development Impact Fee Fund B. Preferred Financial Scenario B-1 Enterprise Fund B-3 Alternative Water Resources Development Impact Fee Fund B-4 Potable Water System Development Impact Fee Fund B-5 Summary of all Funds C. Rate Schedules & Tables for Bill Comparisons for Preferred Financial Scenario C-1 Potable Water Rates C-2 Reclaimed Water Rates C-3 Tables for Bill Comparisons by Meter Size D. Rate Schedules for Other Service Fees & Charges D-1 Meter Installation Fees D-3 Convenience Fees E. Alternate Financial Scenario E-1 Assumptions for Alternate Financial Scenario E-5 Proforma: Enterprise Fund E-7 Proforma: Alternative Water Resources Development Impact Fee Fund E-8 Proforma: Potable Water System Development Impact Fee Fund E-9 Proforma: Summary of all Funds E-11 Water Rate Schedules for Alternate Financial Scenario E-13 Table for Bill Comparisons by Meter Size for Alternate Financial Scenario LIST OF ACRONYMS LIST OF ACRONYMS USED IN THIS REPORT AF Acre Feet AMR Automated Meter Reading AWRDIF Alternative Water Resources Development Impact Fee AWWA American Water Works Association CAGRD Central Arizona Groundwater Replenishment District CAP Central Arizona Project COLA Cost Of Living Allowance CY Calendar Year EDU Equivalent Dwelling Unit FTE Full Time Employee FY Fiscal Year GPF Groundwater Preservation Fee LTS Long Term Storage Credits MOC Municipal Operations Center O&M Operating and Maintenance PWSDIF Potable Water System Development Impact Fee WIFA Water Infrastructure Finance Authority J J ii TOWN OF ORO VALLEY WATER UTILITY COMMISSION WATER RATES ANALYSIS REPORT APRIL 16, 2008 EXECUTIVE SUMMARY The functions and duties of the Oro Valley Water Utility Commission include reviewing and developing recommendations for water revenue requirements, water rates and fee structures. The Commission annually evaluates staff recommendations based on a rates analysis to assure the recommendations meet Town policies and bond covenants. The Utility has based its financial analysis on the American Water Works Association (AWWA) Cash Needs Approach. The AWWA is the largest national organization that develops water and wastewater policies, specifications and rate setting guidelines accepted by both government -owned and private water and wastewater utilities worldwide. This Water Rates Analysis Report contains detailed information on the three funds that comprise the Oro Valley Water Utility: • Enterprise Fund • Alternative Water Resources Development Impact Fee Fund • Potable Water System Development Impact Fee Fund Each fund is individually analyzed with regard to revenue and revenue requirements. The Preferred Financial Scenario includes five year projections for each fund. This allows the Utility to evaluate the impact of future costs and the revenue sources that will be required to meet those costs. Based on the data contained within the Preferred Financial Scenario, the Water Utility Commission has made recommendations on water rates and fees that the Utility will assess in FY 2008-09. Those recommendations are as follows: • Increase the base rates for both the potable and reclaimed water rates by 5.0%. • Increase the commodity rates for all 4 tiers by 5.0% for the potable water rates. • Increase the commodity rate for the reclaimed rates by 5.0%. • The construction rate for potable water will increase from $6.00 to $6.25 per 1,000 gallons. • The construction rate for reclaimed water will increase by 5.0% and will remain equal to the reclaimed commodity rate. • The water use contained within specific tiers is proposed to change to conform to generally accepted rate setting principles on the following meter sizes: 3/4 x 3/4, 1, 1'/2, 3, 6 & 8 inch meters. • Increase the Groundwater Preservation Fee by $0.15, from $0.40 to $0.55 per 1,000 gallons for the potable water customers. • Increase the Groundwater Preservation Fee by $0.05, from $0.25 to $0.30 per 1,000 gallons for the reclaimed water customers. • Increase the existing meter installation fees to recover labor and material costs. j • Establish a "convenience fee" for processing credit card transactions by telephone. The Water Rates Analysis Report also includes an Alternate Financial Scenario for the Council's consideration. The Alternate Financial Scenario incorporates the same basic assumptions as the Preferred Financial Scenario; however, the revenue is generated by annual rate increases that are different than those proposed in the Preferred Financial Scenario. Both scenarios meet the required 1.3 debt service coverage ratio. A major difference in the scenarios is that the Alternate Financial Scenario does not minimize the potential "rate shock" in future years. The Utility employed Red Oak Consulting, a division of Malcolm Pimie, Inc., to review this Rate Analysis and provide an opinion on the reasonableness and consistency of the assumptions contained within the analysis. They verified the calculations, tested the consistency of underlying assumptions and calculation methods, and reviewed the consistency of the results with the Utility's current financial position and recent cash flow. Their professional opinion will be provided as a supplement to this report. The Commission presents this Rates Analysis Report for the review and consideration of the Mayor and Council. The Commission and Water Utility Staff are available to discuss this report in greater detail at the Council's request. Utility Staff are planning to request Council's approval of a Notice of Intent on April 16, 2008 and approval of any rate increases at a Public Hearing on May 21, 2008. The Oro Valley Water Utility Commission is proud to serve the Town of Oro Valley, it citizens and the customers of its water utility. The Commission extends their appreciation to the Mayor and Council for their consideration and guidance and looks forward to their continued direction. -2- TOWN OF ORO VALLEY WATER UTILITY COMMISSION WATER RATES ANALYSIS REPORT APRIL 16, 2008 INTRODUCTION The Oro Valley Water Utility was established as a self-supporting enterprise of the Town. The Utility is comprised of three separate funds that have been established for a specific purpose. The Funds are as follows: • Enterprise Fund • Alternative Water Resources Development Impact Fee Fund • Potable Water System Development Impact Fee Fund The Enterprise Fund is the operating fund for the Utility. The expenditures managed from this fund include personnel, operations and maintenance for both potable and reclaimed water systems, capital costs for existing potable water system improvements and related debt service. Revenue for this fund includes water sales, interest income, service fees and miscellaneous charges. The Alternative Water Resources Development Impact Fee Fund was established in 1996 to manage capital expenditures related to alternative water resources including reclaimed water and Central Arizona Project (CAP) water. Expenditures include acquisition of water rights required for growth and capital costs, including debt service, to deliver reclaimed water and CAP water to the Town. Revenue for this fund is received from impact fees collected at the time water meters are purchased and from interest income. Additionally, the Groundwater Preservation Fees, which are collected through the Enterprise Fund, are transferred to the Alternative Water Resources Development Impact Fee Fund to pay for capital costs and debt service. The Potable Water System Development Impact Fee Fund was established in 1996 to manage capital expenditures related to expansion or growth -related potable water capital projects and related debt service. These projects include wells, pump stations, reservoirs and mains for the potable water system. Revenue for this fund is received from impact fees collected at the time water meters are purchased and from interest income. The revenue and expenditures of all three funds are combined primarily to determine if the Utility meets the debt service coverage requirement established in the Mayor and Council Water Policies and the 2003 Bond Covenants. Otherwise, each fund is independent with regard to revenue and expenses. The revenue from the individual funds may not be consolidated nor used for any purpose other than for which they were originally established. -3- Each fund is addressed in more detail in the report. Figure 1 illustrates the relationship between the three funds. Figure 1 Enterprise Fund Rev: Water sales, service fees and charges Exp: Operating costs, existing system capital improvements and debt service ENTERPRISE FUND AWRDIF Fund Rev: AWRDIF impact fees & Groundwater Preservation Fees Exp: Alternative water resources (CAP & reclaimed water), related capital improvements & debt service Summary of All Funds The Utility combines all funds to determine the overall debt service coverage ratio required by Town Policy & bond covenants. The Utility's net revenue must be equal to or greater than 1.3 times the annual debt service. PWSDIF Rev: PWSDIF impact fees Exp: Growth related potable water capital improvements and related debt service REVENUE The Enterprise Fund is projected to have a cash balance of $10 million at the beginning of FY 2008-09. Enterprise funds may be used for operating costs including personnel, operations and maintenance, capital improvements for the existing potable water system and debt service. Water sales revenues are estimated to meet the FY 2007-08 projections. Revenue from other service fees and charges is estimated to exceed the budgeted projections by $141,600 in part as a result of the Town's General Fund paying for billing and collection services provided by the Utility for Stormwater fees. This revenue was not included in the FY 2007-08 budget. Interest income is expected to slightly exceed the budgeted projections. All Groundwater Preservation Fees are transferred to the AWRDIF Fund to help repay debt on the reclaimed water system and the future CAP water delivery system and are not included in the revenue comparison of the Enterprise Fund. The following table provides the Utility's budgeted revenue compared to the estimated revenue for FY 2007-08: Revenue Source FY 2007-2008 Budget FY 2007-2008 Estimated Difference Increase (Decrease) Water Sales $ 11,343,000 $11,382,800 $ 39,800 Service Fees/Charges $ 465,000 $ 606,600 $ 141,600 Interest Income $ 350,000 $ 400,000 $ 50,000 Total $ 12,158,000 $ 12,389,400 $ 231,400 -4- Revenues projected for FY 2008-09 were based on anticipated annual growth in the customer base of 250 single family residential customers and water consumption patterns similar to calendar year (CY) 2007. Analysis of the water use trends for CY 2007 indicated the average monthly use for a single family residence with a 5/8 x 3/4 inch water declined from 10,000 gallons to 9,000 gallons per month. This reduction may be a result of the implementation of the Drought Preparedness Plan and monsoon rains received last summer. The reduction in water use was taken into consideration when projecting future water sales revenue. The following table indicates the amount of water sales revenue that would be realized with the existing rate structure and no water rate increase: FY 2007-2008 Revenue Estimate FY 2008-2009 Revenue Projection Difference Increase (Decrease) $11,382,800 $11,030,265 ($352,535) Under the existing rate structure, the projected revenue decrease is a result of a significant decline in projected construction water sales in addition to the decrease in water consumption by single family residences. REVENUE REQUIREMENTS Because of the timing of the preparation of this report relative to the Town's budgeting process, the Commission recognizes that both the projected revenues and the projected expenditures may need to be revised. The amounts shown below and used in the financial analysis may differ slightly from those included in the Department Budget Request and the Manager's Budget Review because of the availability of more recent and reliable information. The Commission understands that Oro Valley Water Utility Staff, the Town Manager and the Mayor and Council may adjust expenditures to fit the final estimate of revenues based on the action of Council on the rate structure for FY 2008-09. The following table is a comparative summary of operating expenses for the Water Utility Enterprise Fund. Budgeted amounts for FY 2007-08 are compared to the projected expenses for FY 2008-09 used in the financial analysis: OVWU Expenditures FY 2007-2008 Budget FY 2008-2009 Projections Change Increase(Decrease) Personnel $ 2,365,664 $ 2,427,259 $ 61,595 O & M $ 3,627,840 $ 4,073,508 $ 445,668 CAP Capital Costs $ 216,405 $ 216,405 $ 0 CAP Recharge $ 237,500 $ 420,000 $ 182,500 CAGRD $ 1,012,000 $ 836,919 ($ 175,081) Ca ital utlay 1 $ 5,662,140 1 $ 4,737,000 1 ($ 925,140) Debt Service $ 3,102,771 $ 3,597,312 $ 494,541 Totals $16,224,320 $16,308,403 $ 84,083 -5- Projected personnel costs include the addition of 1 full time employee (FTE). The proposed FTE would be assigned to field operations. Personnel costs also include a proposed 6% COLA/merit increase as recommended by the Town Finance Department and reclassification of four existing employees. The projected operations and maintenance costs include the O&M costs for both the potable water system and the reclaimed water system. With the exception of extraordinary and/or one-time expenditures, O&M costs were projected to have inflationary increases of 2.5% annually. Tucson Electric Power anticipates a significant rate increase this coming year which has been factored into the projections. Additionally, the cost for Tucson Water to treat our reclaimed water has increased and the volume of reclaimed water that will be used will increase when reclaimed deliveries begin for the El Conquistador golf courses. The projected increase in CAP recharge costs is due to projected increases in the cost of CAP water and the volume of water that will be recharged at the Kai Farms Groundwater Water Savings Facility. In FY 2008-09, the Utility is proposing to recharge 4,000 AF. The projected decrease in costs for the Central Arizona Groundwater Replenishment District (CAGRD) is a result of the Utility's plan to better manage its water and financial resources. The Utility will use Long Term Storage (LTS) credits to offset a portion of the costs charged by the CAGRD through recently permitted recovery wells and the direct transfer of LTS credits to the CAGRD. Projected capital projects for existing system improvements in FY 2008-09 include drilling and equipping 1 new well, equipping a well drilled in FY 2007-08, water main relocations and modifications and a water main replacement project. Capital outlay also includes new vehicles, new water meters, security equipment and other minor assets. Projected debt service will increase based on the Utility's portion of the proposed debt for the Phase 1 of the Municipal Operations Center (MOC). Phase 1 of the MOC will include new office buildings for the Water Utility Administration and Operations personnel, Operations personnel for the Public Works Department and a Police Department Training Facility. Additionally, Phase 1 will include Maintenance Facilities for both the Water Utility and the Public Works Department. Projected expenditures in the Enterprise Fund are proposed to be funded with revenue generated from water rates, fees, charges and cash reserves. ALTERNATIVE WATER RESOURCES DEVELOPMENT IMPACT FEE FUND REVENUE The Alternative Water Resources Development Impact Fee Fund (AWRDIF) is projected to have a cash balance of $205,000 at the beginning of FY 2008-09. AWRDIF funds may be used for capital expenditures related to alternative water resources including reclaimed water and CAP water. The revenue sources for the AWRDIF Fund are from impact fees collected J J J when a water meter is purchased and from interest earned on cash balances. The Groundwater Preservation Fees (GPF) collected through the Enterprise Fund are transferred to the AWRDIF Fund to help repay outstanding debt for the reclaimed water delivery system and for future debt on the CAP water delivery system. The following table provides the budgeted revenue compared to the estimated revenue for FY 2007-08: Revenue Source FY 2007-2008 Budget FY 2007-2008 Estimated Difference Increase(Decrease) -Impact Fees $ 558,000 $ 443,000 ($ 115,000) GPF $ 1,108,000 $ 873,600 $ 234,400) Interest Income $ 46,000 $ 55,000 $ 9,000 Miscellaneous $ 0 $ 170,000 $ 170,000 Total $ 1,712,000 $ 1,541,600 $ 170,400 The Town Council adopted new impact fees in 2007. The estimated decrease in impact fee revenue occurred because the process of finalizing the revised impact fees was not completed until after the budget process was completed. The original proposed impact fees were to be phased in over 3 years; however, Ordinance No. (0) 07-32 adopting the new impact fees allowed for a 5 year phase in of the new fees beginning in September 2007. The fees will automatically increase on September 19th every year through September 19, 2011. The projected decrease in GPF revenue is a result of customers using less than average water. The water use trends in CY 2007 are discussed in more detail in the Enterprise Fund section of this report. Revenues projected for FY 2008-09 were based on anticipated annual growth in the customer base of 250 new connections or 312 Equivalent Dwelling Units (EDUs). An EDU is equivalent to one single family residence with a 5/8 x 3/4 inch meter. For impact fee projections, the Utility converts the estimated new connections to EDUs at a ratio of 1.25 EDUs to 1 new connection based on ten year historical trends. The following table indicates the amount of impact fee and GPF revenue that would be realized with the currently authorized increased in impact fees and with and without a GPF increase: FY 2008-2009 FY 2008-2009 Revenue Projection Revenue Projection Difference With GPF Increase Without GPF Increase Impact Fees $ 632,580 $ 632,580 $ 0 GPF $1,656,556 $1,200,895 $ 455,661 7- REVENUE REQUIREMENTS The AWRDIF Fund was allocated a portion of the Series 2003 Bond proceeds to finance construction for the first phase of the reclaimed water system. The second phase of the reclaimed water system is being financed by a loan through the Water Infrastructure Finance Authority of Arizona (WIFA). The acquisition of 3,557 AF of CAP water rights in FY 2007-08 will be funded through the AWRDIF Fund over the next four years. This additional water will be necessary to meet the demands of future customers and as such will be paid from this Fund. The following table is a comparative summary of expenditures for the AWRDIF Fund. Budgeted amounts for FY 2007-08 are compared to the projected expenses for FY 2008-09 used in the financial analysis: Expenditures FY 2007-2008 Budget FY 2008-2009 Projections Change Increase(Decrease) Professional Services $ 35,500 $ 46,000 $ 10,500 -Capital Improvements $ 5,650,000 $ 623,000 ($ 5,027,000) Debt Service $ 1,577,118 $ 1,752,010 $ 174,892 Total $ 7,262,618 $ 2,421,010 ($ 4,841,608) The professional services are expenses incurred for renewable water studies including the Lower Santa Cruz Managed Recharge Project and the CAP water pilot study for treatment techniques (slow sand filtration and reverse osmosis). The capital improvements in FY 2007-08 represent the design and the majority of construction costs for the second phase of the reclaimed water system. The project will not be completed within FY 2007-08; therefore, the remaining construction costs will be carried forward into FY 2008-09. The increase in debt service is attributed to the Utility incurring additional debt to finance the second phase of the reclaimed water system. The repayment schedule for phase one debt was provided by the bond underwriters. The repayment schedule for the phase two WIFA loan was estimated by Utility Staff. Projected expenditures in the AWRDIF Fund are proposed to be funded with WIFA loan proceeds, revenue generated from impact fees, groundwater preservation fees and interest income. POTABLE WATER SYSTEM DEVELOPMENT IMPACT FEE FUND REVENUE The Potable Water System Development Impact Fee Fund (PWSDIF) is projected to have a cash balance of $8.9 million at the beginning of FY 2008-09. The PWSDIF Fund was allocated a portion of the Series 2003 Bond proceeds to finance construction of growth- -8- related potable water system improvements and the refinancing of the Series 2000 Bond issue. Revisions to the capital improvement plan due to reduced growth have left sufficient bond proceeds available to construct the needed improvements from FY 2008-09 through FY 2009-10. Growth -related improvements after this time will be paid for with cash. The revenue sources for the PWSDIF Fund are from impact fees collected when a water meter is purchased and from interest earned on cash balances. The Town Council adopted new impact fees in 2007. These new fees became effective in September 2007. The following table provides the budgeted revenue compared to the estimated revenue for FY 2007-08: Revenue Source FY 2007-2008 Budget FY 2007-2008 Estimated Difference Increase(Decrease) Fees $ 947,500 $ 1,736,302 $ 788,802 -Impact Interest Income $ 430,000 $ 378,000 $ 52,000) Total $1,377,500 $ 2,114,302 $ 736,802 The projected increase in impact fee revenue is a result of numerous new commercial connections during 2007. Commercial connections typically require meters larger than 5/8 x 3/4 inch and they are assessed a fire flow component included in the impact fees. It is difficult to project commercial connections; therefore, revenue projections are based on projected Equivalent Dwelling Units (EDUs). Revenues were projected for FY 2008-09 based on anticipated annual growth in the customer base of 250 new connections or 312 EDUs. An EDU is equivalent to one single family residence with a 5/8 x 3/4 inch meter. For impact fee projections, the Utility converts the estimated new connections to EDUs at a ratio of 1.25 EDUs to 1 new connection base on ten year historical trends. The following table indicates the amount of impact fee revenue that would be realized in FY 2008-09: FY 2007-2008 Revenue Estimate FY 2008-2009 Revenue Projection Difference Increase(Decrease) $ 1,736,302 $ 800,900 $ 935,402) The estimated decrease in impact fee revenue is a result of commercial connections greater than projected in FY 2007-08 discussed above and a lower projected growth rate for FY 2008-09. In FY 2007-08 the projected growth rate was 400 EDUs and for FY 2008-09 the projected growth rate is 312 EDUs. REVENUE REQUIREMENTS Growth -related potable water system improvements are managed through the PWSDIF Fund. These improvements include new potable water reservoirs, pump stations, water mains and wells that are required to meet the demands of new customers. The following table is a comparative summary of expenditures for the PWSDIF Fund. Budgeted amounts for FY 2007-08 are compared to the projected expenses for FY 2008-09 used in the financial analysis: Expenditures FY 2007-2008 Budget FY 2008-2009 Projections Change Increase(Decrease Capital Improvements $ 1,570,000 $ 570,000 $ 1,000,000 ) Debt Service $ 631,920 $ 637,646 S 5,726 Total $ 2,201,920 $ 1,207,646 ($ 994,274) The estimated decrease in capital improvements is a result of reduced growth and the completion of growth -related projects. Additional growth -related improvements will not be constructed until required and demands of future customers are imminent. The capital improvements for FY 2008-09 include one water main installation project and one water main oversizing project. These projects will meet the demands of future development by providing additional water supply and fire flow capacity. The debt service payments are pursuant to the repayment schedule provided by the bond underwriters. Projected expenditures in the PWSDIF Fund are proposed to be funded with Series 2003 bond proceeds, cash reserves generated from impact fees and interest income. PREFERRED FINANCIAL SCENARIO Prior to developing financial forecasts, financial considerations were evaluated relating to significant short and long term capital expenditures, the Utility's existing cash reserves, existing outstanding debt, proposed future debt and the related debt service payments. To arrive at a Preferred Financial Scenario, the goals of the Commission were to ensure that all existing rate setting policies were met, cash reserves were utilized to minimize future debt and proposed rate increases would not result in rate shock. A key component in the rate setting process is the calculation of the debt service coverage ratio. A 1.3 debt service coverage ratio was established by Council policy with the adoption of Resolution No. (R)05- 09. The Commission's finance subcommittee and Utility Staff evaluated different financial scenarios prior to forwarding a recommendation to the Commission. With regard to the Preferred Financial Scenario, the following are key assumptions used to develop the financial projections. The entire set of assumptions may be found in Appendix A. • Annual growth is estimated at 250 new connections annually which equates to 312 EDUs for FY 2008-09. Projected growth for future years has been estimated at 320 J new connections annually which equates to 400 EDUs. J • The Utility will use cash reserves to fund existing system capital improvements in FY 2008-09 and FY 2009-10. • The Utility will finance future existing system capital improvements beginning in FY 2010-11. • It is assumed the Utility will not finance future growth related capital improvements. • The El Conquistador Golf Courses (36 holes) will be removed from groundwater by October 2008. • Debt service for CAP water development begins in FY 2010-11. • Debt service for the proposed Municipal Operations Center begins in FY 2008-09. • Projected operating costs in FY 2008-09 are similar to the Utility's budget request. Future years include 2.5% annual inflation after one time expenditures have been deducted. • Significant cost increases due to potential electric rate increases and increases in reclaimed water costs under the Tucson IGA. • Projected operating costs for direct delivery of CAP water begin in January 2013. • The Potable Water System Development Impact Fees were increased to $2,567 per EDU. These fees are not proposed to increase within the 5 year projection period. • The Alternative Water Resources Development Impact Fees were increased to $1,300 per EDU. This increase represents the first of five incremental increases. The subsequent increases will occur over the next four years. Analysis of the Preferred Financial Scenario indicates that the Enterprise Fund can utilize cash reserves to finance the proposed existing system capital improvements for FY 2008-09 and FY 2009-10 but will need to finance future improvements. When the Utility assumes more debt, the water rates must increase in order to maintain a minimum 1.3 debt service coverage ratio. The Preferred Financial Scenario proposes new debt for the Enterprise Fund in FY 2008-09 and FY 2010-11. The projected rate increases for the base rates and commodity rates begin in FY 2008-09 at 5% followed by 6%, 7%, 8% and 8% for the following four years. The operating and maintenance costs for direct delivery of CAP water will be paid through water rates; however, the capital costs to construct the CAP water delivery system will be funded with revenue derived from Groundwater Preservations Fees and Alternative Water Resources Development Impact Fees The financial projections detailed in the Preferred Financial Scenario for the AWRDIF Fund include assumptions that the second phase of the reclaimed water system will be constructed in FY 2007-08 and 2008-09. This project will be financed with a loan from the Water Infrastructure Finance Authority of Arizona (WIFA). In addition, the repayment of capital costs for the reallocation of 3,557 AF of CAP water will be funded through the AWRDIF Fund. These payments for the reallocation began in FY 2007-08 and continue through FY 2011-12. Construction of the CAP water delivery system will be managed through the AWRDIF Fund. It is estimated that debt service for this project will begin in FY 2010-11. To meet the revenue requirements of this Fund, it has been assumed that the Groundwater Preservation Fees will increase annually for the five year projection period and that the Alternative Water Resources Development Impact Fees will increase over a five year period beginning in FY 2007-08 pursuant to Ordinance No. (0) 07-32 which was adopted in 2007. -11- l The financial projections detailed in the Preferred Financial Scenario for the PWSDIF Fund include assumptions for growth related capital improvements as detailed in the Potable Water System Master Plan adopted by the Town Council in 2006. In order to pace water infrastructure construction with new growth demands, some of these projects have been delayed over the last several years resulting from a growth rate slower than projected. As such, there are 2003 bond proceeds remaining to fund the capital improvements for FY 2008- 09 and FY 2009-10. The Potable Water System Development Impact Fees were increased pursuant to Ordinance No. (0) 07-31 adopted in 2007. The projections for the Enterprise Fund, AWRDIF Fund and the PWSDIF Fund were combined to evaluate the overall debt service coverage at the end of each fiscal year. Analysis indicates that, under the Preferred Financial Scenario, the Utility will meet the debt service coverage requirement established by the Mayor and Council Water Polices and Bond Covenants for all five years. Proformas for the Preferred Financial Scenario may be found in Appendix B. RECOMMENDATION ON WATER RATES, FEES & CHARGES After reviewing the analysis of the three Funds and their respective revenue requirements for the next five years, the Water Utility Commission is recommending: • Increase the base rates for both the potable and reclaimed water rates by 5%. • Increase the commodity rates for all 4 tiers by 5% for the potable water rates. • Increase the commodity rate for the reclaimed rates by 5%. • The construction rate for potable water will continue to be $1.00 greater than the highest tiered rate and will increase from $6.00 to $6.25 per 1,000 gallons. • The construction rate for reclaimed water will increase by 5% and will remain equal to the reclaimed commodity rate. • The water use contained within specific tiers is proposed to change to conform to generally accepted rate setting practices on the following meter sizes: 3/4 x 3/4, 1, 1'/2, 3, 6 & 8 inch meters. • Increase the Groundwater Preservation Fee by $0.15, from $0.40 to $0.55 per 1,000 gallons for the potable water customers. • Increase the Groundwater Preservation Fee by $0.05, from $0.25 to $0.30 per 1,000 gallons for the reclaimed water customers. • Increase the existing meter installation fees to recover labor and material costs. • Establish a "convenience fee" of $1.50 per transaction for processing credit card transactions by telephone. The detailed schedule of the proposed water rates may be found in Appendix C. The proposed changes for meter installation fees and convenience fees may be found in Appendix D. -12- The following table illustrates the proposed water rate changes for a single family residential customer with a 5/8 x 3/4 inch water meter. Other water providers in the region are included for comparison. Water Provider Monthly Base Rate Tier 1 Cost Per 1,000 Gals. Tier 2 Cost Per 1,000 Gals, Tier 3 Cost Per 1,000 Gals. Tier 4 Cost Per 1,000 Gals. Oro Valley Current 13.25 2.08 2.81 3.76 5.00 Oro Valley Proposed 13.91 2.18 2.95 3.95 5.25 Metro Water 13.76 2.19 3.43 4.33 5.76 Marana Water 14.00 2.15 3.00 3.90 4.80 Tucson Water -Current 5.42 1.57 5.48 7.75 10.76 Tucson Water - Proposed 5.52 1.65 6.06 8.59 11.98 Oro Valley Water, Tucson Water and Metro Water no longer include water usage in their base rates; however, Marana Water includes 1,000 gallons. Oro Valley, Metro and Marana all base their rates on 1,000 gallons. Tucson Water's commodity rates are based on the use of 100 cubic feet which is the equivalent of 748 gallons. To simplify the comparison, the rates for Tucson Water have been converted to represent the charge for 1,000 gallons. For the most part, the tiered rate structures for all the Water Utilities are similar. A table providing proposed rates for all Oro Valley Water Utility meter sizes may be found in Appendix C. Appendix C also contains tables that calculate the dollar increase and the percentage increase that a customer would experience on a monthly bill under the proposed rates. Monthly bill amounts are calculated in 1,000 gallon increments for the 5/8 x 3/4 inch meters and a variety of increments for larger meter sizes. For comparison purposes, the following table provides a calculation of a monthly bill amount for a single family residential customer with a 5/8 x 3/4 inch meter for the water utilities surrounding the Oro Valley Water Utility service area. Direct comparison of raw base rates and commodity rates is less effective because of the varying rate structures of each utility. A better comparison is to calculate the cost for specific consumption levels during a summer month. Please note that these charges only reflect water use fees and specifically exclude taxes, Groundwater Preservation Fees and similar renewable water resource fees charged by other water providers. Water Utility Cost for 7,000 Gallons Cost for 10,000 Gallons Cost for 25,000 Gallons Cost for 40,000 Gallons Oro Valle - Current 27.81 36.24 86.94 153.26 Oro Valle - Proposed 29.17 38.02 91.27 160.92 Metro Water 29.09 35.66 89.13 165.52 Marana Water 26.90 33.35 82.85 150.35 Tucson Water - Current 16.41 21.12 106.22 243.54 Tucson Water -Proposed 17.07 22.02 116.10 268.68 -13- A typical single family residential customer averages 9,000 gallons of water per month over the course of one year. Based on this water use, they would experience an increase of $1.64 per month for water used and an increase of $1.35 for Groundwater Preservation Fees. The total monthly increase for 9,000 gallons of water used in a month would be $2.99. This represents an 8.1% increase of which 4.4% is for water use and 3.7% is for the GPF. Each individual customer's increase in their monthly bill will depend on the volume of water they use. Tables that calculate the dollar increase and the percentage increase that a customer would experience on a monthly bill under the proposed rates may be found in Appendix C. The proposed increase in the Groundwater Preservation Fees (GPF) will help repay the debt on the reclaimed water system, the capital charges associated with the reallocation of 3,557 AF of CAP water and ultimately, repay the debt for the costs to construct the CAP water delivery system. It is proposed that the GPF be increased gradually over a five year period. In keeping with the Town Council's direction in prior years, the reclaimed water customers will pay a reduced rate for the GPF. OTHER SERVICE FEES & CHARGES METER INSTALLATION FEES There are currently over 18,000 water meters in the water distribution system. Water meters are the equipment that measures the volume of water used in order to bill each customer for their specific water use. Water sales revenue represents 93% of the total revenue collected for the Enterprise Fund. This amount does not include Groundwater Preservation Fees and Impact Fees that are accounted for in separate Funds. The Utility is also proposing to implement Automated Meter Reading (AMR) technology in FY 2008-09. As new meters are purchased by developers, the meters installed will be equipped with AMR technology. The additional cost for this equipment will be paid by new development at the time the meter is purchased. With regard to meter replacements, the Utility will absorb the additional cost of the AMR equipment. It is estimated that increased revenue from accurately functioning meters will offset the cost of the AMR equipment. Full implementation of AMR will take many years to accomplish. The number of meters that can be replaced and/or retro-fitted with AMR equipment will be dependent on the available funds in any given year. AMR technology is currently being used by the City of Tucson Water Dept., Metropolitan Domestic Water Improvement District and the Town of Marana Water Dept. The use of AMR technology will provide the Utility the ability to provide improved customer service, assist with water conservation measures and eventually reduce labor costs. Appendix D contains a proposed schedule of meter installation fees with AMR equipment and with conventional equipment. Both options are being provided to the Council for their consideration. Regardless of which meter is installed, the meter installation fees need to be increased to recover the labor and material costs related to meter installations. -14- CONVENIENCE FEES Earlier this year, the Water Utility began accepting credit cards as a form of payment for monthly water bills. Payment by credit cards was implemented after many requests from our customers over the past 2 years. The credit card vendors charge the Utility a fee of 1.8% of each credit card transaction amount. The Utility proposes to use the revenue from late fees to offset the transaction fees. Some of the credit card vendors (Visa/MasterCard) do not allow the merchant to recover that transaction fee if the card is presented in person. However, they have no policies with regard to credit card transactions that are completed by telephone. The Utility Staff have found that credit card transactions completed over the telephone take them approximately 8 minutes and is 3 to 4 times longer than the transactions completed in person. When a credit card is presented in person, the card is swiped and most of the work is done electronically. When the transaction occurs over the telephone, all of the work is performed manually. In order to recover some of the cost for the convenience to be able to pay by telephone, the Utility is recommending that a Convenience Fee of $1.50 be established for credit card transactions completed by telephone. The fee is detailed in Appendix D. No other adjustments to service fees and charges are necessary at this time; however, the Commission recommends that the service fees and charges continue to be reviewed on an annual basis. -15- ALTERNATE FINANCIAL SCENARIO Appendix E presents an Alternate Financial Scenario to allow for a comparison with the Preferred Financial Scenario. Both scenarios used identical assumptions for growth, operating costs and debt service. The differences between the two scenarios are the rate increases that will generate the needed revenue. The proposed increases to the GPF are the same in both scenarios. Given the downturn in economic conditions, the Water Utility Commission and Utility Staff wanted to provide an option for the Council to consider with regard to water rates. The Alternate Financial Scenario proposes a 2.5% rate increase for the base rates and the commodity rates in FY 2008-09 rather than the 5.0% rate increase that is proposed in the Preferred Financial Scenario. The following is a comparison between the Preferred Financial Scenario and the Alternate Financial Scenario for proposed rate increases, GPF increases, the total financial impact and the projected monthly bill for a single family residential customer using 9,000 gallons of water per month. Preferred Financial Scenario FY 08-09 FY 09-10 FY 10-11 FY 11-12 FY 12-13 Water Rates 4.4% 5.3% 5.9% 6.5% 6.3% GPF 3.7% 4.5% 5.1% 5.5% 0.0% Total Impact 8.1% 9.8% 11.0% 12.0% 6.3% Monthly Bill $40.02 $43.93 $48.77 $54.65 $58.07 Monthly Increase $2.99 $3.91 $4.84 $5.88 $3.42 Alternate Financial Scenario FY 08-09 FY 09-10 FY 10-11 FY 11-12 FY 12-13 Water Rates 2.2% 6.1% 5.9% 9.0% 6.3% GPF 3.7% 4.6% 5.2% 5.6% 0.0% Total Impact 5.9% 10.7% 11.1% 14.6% 6.3% Monthly Bill $39.20 $43.40 $48.23 $55.25 $58.75 Monthly Increase $2.17 $4.20 $4.83 1 $7.02 $3.50 Both the Preferred Financial Scenario and the Alternate Financial Scenario meet all revenue J requirements and debt service coverage requirements. The Alternate Financial Scenario J 16- n n proposes a lower rate increase in FY 2008-09; however, it does not minimize potential rate shock in future years. The Preferred Financial Scenario proposes levelized rate increases over the 5 year projection period to minimize potential rate shock. CONCLUSION The Commission presents this Water Rates Analysis Report for the review and consideration of the Mayor and Council. The Commission and Water Utility Staff are available to discuss this report in greater detail at Council's request. Utility Staff are planning to request Council's approval of a Notice of Intent on April 16, 2008 and approval of any rate increases at a Public Hearing on May 21, 2008. The Oro Valley Water Utility Commission is proud to serve the Town of Oro Valley, it citizens and the customers of its water utility. The Commission extends their appreciation to the Mayor and Council for their consideration and guidance and looks forward to their continued direction. -17- APPENDIX A Assumptions for Preferred Financial Scenario A-1 Enterprise Fund A-3 Alternative Water Resources Development Impact Fee Fund A-4 Potable Water System Development Impact Fee Fund PREFERRED FINANCIAL SCENARIO ASSUMPTIONS FOR ENTERPRISE FUND Growth FY 08-09: 250 new connections for water rates (based on current housing trends) FY 09-10, 10-11, 11-12 & 12-13: 320 new connections for water rates (based on Homebuilding Forecast by John Strobeck, Bright Future Business Consultants, 2007) Water Rate Structure 4 Tiers — existing rate structure; changes to usage allowed in some of the tiers to bring into conformance with AWWA capacity ratios. Water Rate Increases FY 08-09 = 5%, FY 09-10 = 6%, FY 10-11 =7%, FY 11-12 = 8% and FY 12-13 = 8% (same increases in base & commodity rates) Construction Water Rate $1.00 more than Tier 4 in each year Potable GPF Rates (cost per 1,000 gallons) FY 08-09 = $0.55, FY 09-10 = $0.75, FY 10-11=$1.00, FY 11-12 = $1.30 and FY 12-13 = $1.30 Reclaimed GPF Rates (cost per 1,000 gallons) FY 08-09=$0.30, FY 09-10 = $0.40, FY 10-11 = $0.50, FY 11-12 = $0.80 and FY 12-13 = $0.80 Water Use Trends Used same water use trends as those in CY 2007. The average monthly water use for a residential customer with a 5/8 x 3/4 inch water meter dropped to 9,000 gallons per month in CY 2007 from 10,000 gallons in CY 2006. For this analysis 9,000 gallons were used as the average monthly water use. Other Revenue Based on FY 08-09 proposed budget. Did not project increases as misc. charges fluctuate (NSF fees, reconnect fees, sewer billing, stormwater billing, plan review) Beginning Cash Balance Refer to Beginning Cash Balance Worksheet. Interest Income The average interest rate for the Local Government Investment Pool over the past two years is 4.57%. Based on recent trends, the interest rate in FY 08-09 is 3.5% and 4.0% for all remaining years. (refer to Interest Income Worksheets) Personnel Costs Based on Utility's proposed budget for FY 08-09, added 1 new FTE in in all remaining years, annual increases of 6% for COLA / Merit all years Potable O&M Based on Utility's proposed budget for FY 08-09; 2.5% inflation for all remaining years. FY 08-09 includes cost increase for Tucson Electric Power's proposed rate increase. Reclaimed O&M Based on Utility's proposed budget for FY 08-09; FY 08-09 begin serving 2 El Conquistador golf courses with reclaimed, water purchased increases by 1,000 AF, 2.5% inflation for all remaining years. A-1 PREFERRED FINANCIAL SCENARIO ASSUMPTIONS FOR ENTERPRISE FUND (continued) CAP Capital Costs Based on 10,305 AF at rate schedule revised by CAP 8/2/07. CAP Treatment & Delivery Costs Assumed that direct delivery of CAP water will begin in January 2013. Costs estimated by P. Saletta using data from Carollo Study dated July 2007 CAP Recharge Costs Based on rate schedule revised by CAP 8/2/07 as follows: FY 08-09=4,000 AF FY 09-10=4,000 AF FY 10-11=4,000 AF FY 11-12=2,500 AF No recharge in FY 12-13 when CAP deliveries begin. CAGRD Costs Based on S. Seng worksheet and rate schedule recommended by CAP 9/20/07. Debt Service P&I debt service for 1999-2003 bonds taken from amortization schedules provided by Stone &Youngberg (S&Y). P&I debt service for 2003 Sr. Lien Bonds taken from amortization schedules provided by S&Y. P&I debt service for 2005 Excise Tax Bonds taken from amortization schedule provided by S&Y. P&I debt savings for 2007 Refunding taken from schedules provided by S&Y. P&I debt service for proposed 2008 Excise Tax Bonds is an estimated annual payment for the Water Utility's portion of the Municipal Operations Center. Information was provided by Stacey Lemos, Finance Director and Stone & Youngberg. P&I debt service for proposed 2010 Sr. Lien Bonds was estimated by S. Seng using $7,000,000 at 5.0% for 20 years. Debt Service Coverage Established at 1.30 by Mayor & Council Water Policies Capital Improvements Projects are identified in 5-Year CIP and Potable Water System Master Plan. A-2 r'1 PREFERRED FINANCIAL SCENARIO ASSUMPTIONS FOR AWRDIF FUND Growth FY 08-09: 250 new connections for water rates, 312 EDUs for impact fees (250 x 1.25 = 312) (based on current housing trends) FY 09-10, 10-11, 11-12 & 12-13: 320 new connections for water rates, 400 EDUs for impact fees (320 x 1.25 = 400) (based on Homebuilding Forecast by John Strobeck, Bright Future Business Consultants, 2007) AWRD Impact Fees Increase to $5,182 per EDU phased -in over 5 years, Ordinance No. (0) 07-32 Revenue FY 08-09 revenue derived from 78 EDUs at $1,300 plus 234 EDUs at $2,270 FY 09-10 revenue derived from 100 EDUs at $2,270 plus 300 EDUs at $3,240 FY 10-11 revenue derived from 100 EDUs at $3,240 plus 300 EDUs at $4,210 FY 11-12 revenue derived from 100 EDUs at $4,210 plus 300 EDUs at $5,182 FY 12-13 revenue derived from 400 EDUs at $5,182 Potable GPF Rates (cost per 1,000 gallons) FY 08-09 = $0.55, FY 09-10 = $0.75, FY 10-11 FY 12-13 = $1.30 Reclaimed GPF Rates (cost per 1,000 gallons) FY 08-09=$0.30, FY 09-10 = $0.40, FY 10-11 FY 12-13 = $0.80 Water Use Trends =$1.00, FY 11-12 = $1.30 and = $0.50, FY 11-12 = $0.80 and Used same water use trends as those in CY 2007. The average monthly water use for a residential customer with a 5/8 x 3/4 inch water meter dropped to 9,000 gallons per month in CY 2007 from 10,000 gallons in CY 2006. For this analysis 9,000 gallons were used as the average monthly water use. Beginning Cash Balance Refer to Beginning Cash Balance Worksheet. Interest Income The average interest rate for the Local Government Investment Pool over the past two years is 4.57%. Based on recent trends, the interest rate in FY 08-09 is 3.5% and 4.0% for all remaining years. (refer to Interest Income Worksheets) Debt Service P&I debt service for 2003 bonds (reclaimed phase 1) taken from amortization schedules provided by Stone & Youngberg. P&I debt service for 2007 WIFA loan (reclaimed phase 2) estimated by S. Seng using $5,000,000 at 3.536% interest over 20 years. P&I debt service for CAP project estimated by Stone & Youngberg with project costs identified in the Carollo Study dated July 2007 Debt service for reallocation of 3,557 AF of CAP water was provided by CAWCD. Reclaimed Capital Improvements Projects are identified in 5-Year CIP. A-3 PREFERRED FINANCIAL SCENARIO ASSUMPTIONS FOR PWSDIF FUND Growth FY 08-09: 250 new connections for water rates, 312 EDUs for impact fees (250 x 1.25 = 312) (based on current housing trends) FY 09-10, 10-11, 11-12 & 12-13: 320 new connections for water rates, 400 EDUs for impact fees (320 x 1.25 = 400) (based on Homebuilding Forecast by John Strobeck, Bright Future Business Consultants, 2007) PWSD Impact Fees Increase impact fees to $2,567 per EDU effective 10/01/07, Ordinance No. (0) 07-31. Revenue FY 08-09 revenue derived from 312 EDUs at at $2,567 Revenue for all remaining years derived from 400 EDUs at $2,567. Series 2003 bonds are completely used by end of FY 09-10 Beginning Cash Balance Refer to Beginning Cash Balance Worksheet. Interest Income The average interest rate for the Local Government Investment Pool over the past two years is 4.57%. Based on recent trends, the interest rate in FY 08-09 is 3.5% and 4.0% for all remaining years. (refer to Interest Income Worksheets) Debt Service P&I debt service for 2003 bonds (expansion related projects) taken from amortization schedules provided by Stone & Youngberg. No further financing is projected. Capital Improvements Capital projects (growth related) are identified in the Potable Water System Master Plan and the 5-Year CIP. A-4 APPENDIX B Preferred Financial Scenario B-1 Enterprise Fund B-3 Alternative Water Resources Development Impact Fee Fund B-4 Potable Water System Development Impact Fee Fund B-5 Summary of All Funds WmomN W W A a N r M N W N N M r O O V m W M w N V N O n O N LL N M fV0 Y M M' n Imo c c a w w w w w w N M N M N W V N O M A N O ON V N N N V M O- M V W N W O � M N N O N V (n M N O O M m m w M O M O- O N N M N N (n M O N IA ON 0 a ON AN ' M n N ED V V r M M r V (m M_ M M N N N w O O< bN W (OM V O O O W W r W O N M(nA N' MM DOJO V (OK N M M M M W i ( N (n an O V N N W W r M W N M IXt O r IX r N N V M o M V- Mm V M O V M M Mr a V w m 17 m W CIF M le N N V N� � M V w W E O c w w w ww w m U � V M m,MD (DON Ommw mm O O N m V AA w OMMMO M N O c m = O O m M M O o W ww V O N r ( M6 O v' O M A W N OD_ N (m O O OM O ' O N O V W O M WQ W A O M— m N O r W r M N M M V' LL m O .6,6.6NCn 7IXt IX) i0 66 V Or NM MIXl NNM M (�MM(OM�M(D d.0 OO V f0O W M M_ V N i(1r to r r ro OOO yy rMMN V ONr (p N Y M��NMN (mM V DNA M W W M N M V M M N V MMM O V w N N V N(OV �- c y IL uW w o rO N(M�ImM M V N O(MMN mo N O N Nl mm, N _rMNA d a Ol MMN ANO l0 i[1 to Or V M mr Y� OM rN �w W A mm V M W O Wt oa— l G V NM NMN' MMr ONmi� NO N� OM OOM r V Ii(D V OGr N OO V NMM O�- Ol (n r mO MM Y1 4'1 IXt V M MO �- V haMN V Oi N LL N �- �- V N O O N N M V M" N' f0 N N M V r N N a W M M M O ED V N M V( w-- V w w w w w M w M V OO W W O O O A M M V (A am NM V V A W maw m m rWo N R ( ZM MN M M M O(�N V (nm O O on yp M M W M M V O(1 O W (D r0 V OO NO(O O(O NN NM V OM (o(n ��t0 w NNM Mih("1 V M O ( M( W—M r M M aMOM n•a (D OlD (D MMO n W Oi O(nM .MN r N N V MO V V V O (ANMM N NM (n I� MNM O mM N Np' V r M (O N M M w V" V N M M V N N V M Mr W M O M N N V (A V r V N N m N M m R M w w w w Wi N w _ O � M + NT� ��� a m Q 8 ^ C (o y .. o EO EmOUM anC.)m E =o y 0 o d d m E ow m M o O Q m m m LL d m y LL O 6 C W p c w c V T d N(L (L IL cl C C (nLL U c W 6 c(m/( m m m0Nz o E o_v = o o o a0U) �' oQ Z'(i Mx ma N m vti o= y N N O U( y (° u c ._ ._ ._ 3 > W 6 c M O i O W O` G m ¢ y y W F m (n w w W d 2'N m w H m 0 Z 2 2 E �� z W c - o y .� K m c m o a c OO c c�� a a � � E = a m m m m N y um a o° a c a c 0 3 m'm ° w w a mo m a a mo m m m 9 m +m+ N N fn fn N M y y ry Q �. 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W 1p P M M M P N N A O Q P P N N M M M N M P' M M b M � N w U _ o E n m an d d y N v u T d� rn E N N IC C U C W o.i - 0 0 < 0 iE w m n ���Ki yy W f� ca mLL Za d V a W F, a V D D w O d N y o f0 Quo om°ma m°m°m°m° KoMXoaa dd a m t% m m vdi m W a c W z a a« s j, 44C d y N d d 3 d OW N (/o W W w o W W W a d d d¢ O M w N K K U Z 3 d d m m of ee ;-a m m as al o vaa o 0rd mw o 0 B-5 i1 1 n W o 9 t i P m m m Q r o0 e b IR N M m e min IR mM �n N O O N N N 0 QM A V M a° e COl fP0 O M M q b r r O N N r wow � W.0 N O N V —G_ q N N w w H q w w w w � O O Q O O Q m� a� m h A m m Nm W m 0 o Q o Q 1 � m N N m of v T COJ b� mr mr N O O N V 0 O pNOMi O 0 pr N mN N N Q N Q P LL N M r .N.. O y C w N N q w N N w w w w C d � LL fq O O O b O OI O O Q O' P_ M Q N r N h m N Q � p M M YI M T P Q m I� M I` Of Q Q W m ✓j � m N W O A Y N M N M aE a E w N q q w w w N q w w b` 00 y OI O 00 00 C O Q o ' O b v O O Iq � �- m Q N m O Q y O O tq b Y b 1 O! b- N O � n� O J H O O N— M N M N m b m N Q r � N �a M N eM N m M m N N h N t Q ON O m h N .- P y LL m P 0 .m_. m N V r (O N N N O N C1 3 w N N w q q N w w w q o O O Q O P m M b Q m (7 m« ✓\ O N h O O m N N M m N T -+� Y Om m N Of N O h Q N J LL v b � � � N Poi of n ai Nm_ m mm w NN M w w H H q q w w m O1 d Ol 0 `0E =.N �N J m o 'u toO0 Ed O.' T N E rn E N U d O U o 3 A C O d T v LL N �O N `- O C 7 U w i N N b C d d U d O A A d d U d y d C d a y A � Sc LL m S E A N C U R T C A Y- C d j d N d d d A C LL U L 0 O Q 6ya C d d U 7 dCo U E MLL«p FA E U O IO QZd Ad U Vy° rn , m AO =>d =md =d dd—c CCU EE9 0 > nO o wA at d E E E E N ffi� 9o°` na z sC rn.i oaam oow 0 U 0 0 0 mzw w¢0rcA B-6 APPENDIX C Preferred Financial Scenario Rate Schedules & Tables for Bill Comparisons C-1 Potable Water Rates C-2 Reclaimed Water Rates C-3 Tables for Bill Comparisons by Meter Size ❑ F_ J m❑ p� N N N N N N N N N F Yf N N N N N N h N 4 U a Z ZOo aU O w 0 0 0 0 0 0 0 0 0 0 N N UO a m � J m i w N m N m N m N m N m N m N m N m N m 2 F M M M M M M M M of OU 1 a H H y w���wwwwww�o 00 a ❑ J y ❑ N e a N m N m N m N m N m N m N m N m N m 2 w g 0� H g N N N N N N N CV <V O a U a H H Z 0 O N UO a W F J a o o x . o W W w N m w w m m 0_ E W_ a o iV N N N N N N N N K a U a H �_ w Z O= =0 w o0 w w 0 w 0 w 0 w 0 w 0 w 0 w 0 w 0 J 2 H N N N N N N N N N UO a ❑ W ' p OI nm�eoo OR n N ty 'R Mo (p o ❑� o � N M 10 � a w 00) am y W N N o m 0 O 0 M 0 O 0 O 0 O 0 0 0 0 ZM 6 M (O fD N N C1 Ui x o N M p M � W m � Q � U m w v v F N M %% M 1 N m V � M W H Z O W L) Z w Q m 7 W e e e e ❑ fA - o _ o _ o W a - _ ❑ ❑ O N m M ei � 4' Z v 0 0 'o '0 0 'o 0 0 0 w W Z f F o a a o 0 0 0 0 O Z o 0 0 o o a o 0 J W ry m ro o m< <'o N ry o ❑ 0 W m m m a ❑ Q o e e e o W o 0 o 0 0$ ❑ a d o v r m oe J « N U M o 0 0 0 0 0 0 Z N w o 0 0 0 0 0 0 Z Q o o 0 o g o 0 0 0 0 0 Vr U m N 0 Cl N N� N O < N Vml ❑ _ eo a o - eo 0 - W a y e 0 a ❑ O S 'e S S g ❑ a� M N � n b 7 m m J U N 8 e o 0 0 0 0 0 w W r N Z O �w 0 0 0 0 0 0 ❑ o e o W o o e o e ❑ � o eu _ w O � n ❑ a O J U O Z Q, m W Z H r g a o 0 0 0 0 o O Z o 0 o a o 0 0 0 0 J W n o of <o m vi N$ O O i U o 0 0 0 W W M M f N %% fn w V In M O C-1 f J a N O 00 m m m m m m m m m fV fV N N N N N N N O z a U a H Z C Z W p o m ro m m m m m m m U p a n m m m o M o w m m n m M m OR m o o�oc aw xa= a m w N O O M 0 0 0 0 0 H O M m M {O fp N N M lA w W of o K W m 5 U Q c � V V W W f N M % x N M W C-2 1 y Q o lq � Z w a < J J¢ 0 0 0 V 0 o N o 0 Z O (Co M N 0 OOWLU Ci D > (L o v 0 Lo O W U9 C O z 00 LpfA N y N 6N4 NM 6%to F- M Q 0 �ci 2 22 o a; r o66 O ONNML02 U Cf 6% 64 V4 6% O LU W2222of W lL W LL lL 0-' N M d 0 Z Q W W W W co F 0]HFHH W w zzzzzm U W W W W W 0 0_' co U)aya Qy co QQz d W W UJ tJ7 UJ W W 06 W UUUUU W w 2 z z z z z LU O Q ? d o 0 0 0 o U M t0 tC tC tC r } U co W H Q Q O K O F- � W O 3 Q 0 2 coU O W W W j 0 0 0 m V7OO H U M d O o O 0 O 0 O 0 O 0 O o O e O o 0 O a o O 0 O 0 O 0 O 0 O 0 O 0 O 0 O 0 O 0 O 0 O 0 O o O e o 0 0 O 0 O 0 O 0 O 0 O 0 O 0 0 r❑ J Z W M O W V' W W W N t t` 0) O 7 N NV M V' V 'I' 'IT It 'V' 'It 'V' V' V' M M M M M M M M M M LU Q t0W I- �rt`co 00mmmmm c0 c0 00 co OD 00 c0 N N N co M m m m 0000 W co O 0 W W U a Z W O (37 Co. r M O M co (O U) O N N O N tl) N O N t0 N O N tO N 0 N tO N 0 N tO N O N Lq N O N tC N N N N N N N N N N N N N J r O tC O. 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LU = W J r Q LUV U aWco z� �zzz Q W II It II II cnw —N Cl) V W LU K LU K W W W W ¢tO rrrr 2 a U = } ~ M J 3 0 Z w OWQ� 22 II } w 0 W r O y p ui LU m US Q O Q O r U. m U p o 0 0 0 0 r J Z W 01 v V V 6 W co V' c0000 Or W U a z LL O J M M M M M J r O co co(o(o = J H Z r J O o) W m 0 Q p z p7 co O m N r G 0 a M N M r W M M M M M J J N O O O O O 2 a CN F r W M W M W 2 p a' ON 0 f 2 Z N M O Wn 0 r a LL O 0000 O O O o z W a n NLO o n Imo o OU(9 z W 0 0 0 0 0 p 0 W a r 00000 O o o 0 o Q O i W O O O O W Lo 0 Ln O W Q 7 M V O N a z z c7 a r g 6 O o o 0 06 0 0 0 Z a G a' C W NO�O w Z W it N M Lo U � (9 a p o 0 0 0 0 z W g rn m m m m wQzvvvcc LU a z 3 0 W y M M M M c`M O CD(D co CD CD Z W M M M M M p [[` 4] O Lo O Z N i 3 a - W p M Co M M M LU O CO CO O O r (n W L m m LO Ln r o r o o m o M Q a Q 0 Lo M N. a N ce) It J o CO a w 0 0 0 0 0 2 0 0 0 0 0 F- W m Cl) Cl) mM W O O O O O Qw O O v m N CL p N f `M "t [o O o 0 0 0 0 N z O p z o 0 0 0 J W Q CO O O O O N O n N APPENDIX D Rate Schedules Other Service Fees & Charges D-1 Meter Installation Fees D-3 Convenience Fees Oro Valley Water Utility Proposed Meter Installation Fees Proposed Meter Fees Including AMR Technology Meter Size Meter Type Current Fees Proposed Fees Amount of Increase 5/8 x 3/4 standard $ 150.00 $ 247.00 $ 97.00 3/4 x 3/4 standard $ 175.00 $ 251.00 $ 76.00 1 standard $ 200.00 $ 319.00 $ 119.00 1.5 standard $ 390.00 $ 750.00 $ 360.00 1.5 irrigation (turbo) $ 560.00 $ 1,000.00 $ 440.00 2 standard $ 560.00 $ 918.00 $ 358.00 2 irrigation (turbo) $ 550.00 $ 1,258.00 $ 708.00 2 high use (compound) $ 1,365.00 $ 1,760.00 $ 395.00 3 irrigation (turbo) $ 875.00 $ 1,530.00 $ 655.00 3 high use (compound) $ 1,700.00 $ 2,200.00 $ 500.00 4 irrigation (turbo) $ 1,600.00 $ 2,838.00 $ 1,238.00 4 high use (compound) $ 2,750.00 $ 3,537.00 $ 787.00 6 irrigation (turbo) $ 3,240.00 $ 4,662.00 $ 1,422.00 6 high use (compound) $ 4,925.00 $ 6,360.00 $ 1,435.00 8 irrigation (turbo) T & M $ 6,473.00 N/A Meter installation fees are paid by developers at the time a new meter is purchased. Meter installation fees are subject to 8.1 % sales tax. The proposed fees include the cost of meter plus labor costs to install. Detailed information on each meter size may be found on Page D-2 Proposed Meter Fees Excluding AMR Technology Meter Size Meter Type Current Fees Proposed Fees Amount of Increase 5/8 x 3/4 standard $ 150.00 $ 150.00 $ 3/4 x 3/4 standard $ 175.00 $ 175.00 $ 1 standard $ 200.00 $ 200.00 $ - 1.5 standard $ 390.00 $ 610.00 $ 220.00 1.5 irrigation (turbo) $ 560.00 $ 860.00 $ 300.00 2 standard $ 560.00 $ 778.00 $ 218.00 2 irrigation (turbo) $ 550.00 $ 1,118.00 $ 568.00 2 high use (compound) $ 1,365.00 $ 1,620.00 $ 255.00 3 irrigation (turbo) $ 875.00 $ 1,390.00 $ 515.00 3 high use (compound) $ 1,700.00 $ 2,060.00 $ 360.00 4 irrigation (turbo) $ 1,600.00 $ 2,698.00 $ 1,098.00 4 high use (compound) $ 2,750.00 $ 3,397.00 $ 647.00 6 irrigation (turbo) $ 3,240.00 $ 4,522.00 $ 1,282.00 6 high use (compound) $ 4,925.00 $ 6,220.00 $ 1,295.00 8 irrigation (turbo) T & M $ 6,333.00 N/A D-1 Oro Valley Water Utility Meter Installation Costs Total Labor Total Total Meter Personnel Hours to Cost Labor Labor & Meter Size Meter Type Meter AMR Equip. Costs Required Install Per Hour Costs Materials 5/8 x 314 standard $ 92.00 $ 140.00 $ 232.00 1 0.50 $ 30.00 $ 15.00 $ 247.00 3/4 x 3/4 standard $ 96.00 $ 140.00 $ 236.00 1 0.50 $ 30.00 $ 15.00 $ 251.00 1 standard $ 149.00 $ 140.00 $ 289.00 1 1.00 $ 30.00 $ 30.00 $ 319.00 1.5 standard $ 550.00 $ 140.00 $ 690.00 2 1.00 $ 30.00 $ 60.00 $ 750.00 1.5 irrigation (turbo) $ 800.00 $ 140.00 $ 940.00 2 1.00 $ 30.00 $ 60.00 $ 1,000.00 2 standard $ 688.00 $ 140.00 $ 828.00 2 1.50 $ 30.00 $ 90.00 $ 918.00 2 irrigation (turbo) $1,028.00 $ 140.00 $1,168.00 2 1.50 $ 30.00 $ 90.00 $ 1,258.00 2 high use (compound) $1,530.00 $ 140.00 $1,670.00 2 1.50 $ 30.00 $ 90.00 $ 1,760.00 3 irrigation (turbo) $1,270.00 $ 140.00 $1,410.00 2 2.00 $ 30.00 $ 120.00 $ 1,530.00 3 high use (compound) $1,940.00 $ 140.00 $2,080.00 2 2.00 $ 30.00 $ 120.00 $ 2,200.00 4 irrigation (turbo) $ 2,428.00 $ 140.00 $ 2,568.00 3 3.00 $ 30.00 $ 270.00 $ 2,838.00 4 high use (compound) $ 3,127.00 $ 140.00 $ 3,267.00 3 3.00 $ 30.00 $ 270.00 $ 3,537.00 6 irrigation (turbo) $3,982.00 $ 140.00 $4,122.00 4 4.50 $ 30.00 $ 540.00 $ 4,662.00 6 high use (compound) $5,680.00 $ 140.00 $5,820.00 4 4.50 $ 30.00 $540.00 $6,360.00 8 irrigation (turbo) $5,613.00 $ 140.00 $5,753.00 4 6.00 $ 30.00 $720.00 $ 6,473.00 Assumptions: Sensus Meter & AMR equipment costs quoted by Dana Kepner. Average meter reader labor is $26.71 per hour including 33% benefits. Rounded labor costs to $30.00 per hour to include costs for gasoline, uniforms, phones, & administration. D-2 Oro Valley Water Utility Convenience Fees Credit Card Transactions by Telephone Current Convenience Fee: N/A Proposed Convenience Fee: $1.50 Supporting information may be found on Page D-4 D-3 Credit Card Transactions with Customer Present Task Time: 2 minutes Swipe card in machine Follow directions on screen If direction on screen asks, enter last 4 digits of credit card #, ENTER Key in payment amount, do not use decimal point, ENTER Press YES for second customer receipt *YES/ENTER is large Green Key at bottom of pad * NO/Cancel is large Yellow key at bottom of pad If tax question appears on screen always use 0 for No Tax Have customer sign MERCHANT COPY (initial on back) Give customer the CUSTOMER COPY with your initials on back Enter payment and authorization code in NOTES Paper clip Merchant Copy to payment stub or credit card payment form Leave payment stub with credit card receipt in basket Credit Card Transactions by Telephone Task Time: 6 - 8 minutes Locate customer account in system Fill out credit card payment form *Always get the credit card billing ADDRESS and ZIP CODE Ask customer to stay on the line until payment has been processed Enter credit card number, ENTER Key in expiration date (MMYY), ENTER Screen will say "Take Imprint of Card", Press ENTER Press O,for NO for no card present If asked for V Code — this is the 3 or 4 digit (security #) on back of credit card, ENTER Key in $ amount of payment, Enter When screen asks for address it means the credit card billing address (NUMBERS ONLY) ENTER Key in credit card billing zip code, ENTER Screen will say DIALING, then EXACT MATCH, OR Address Zip Mismatch Capture? Yes or No - ALWAYS press YES Press NO for 2nd receipt Return to customer on phone and give them the Authorization # on CC receipt Enter payment and authorization code in NOTES Initial back of Merchant Copy and clip to credit card payment form Leave payment stub with credit card receipt in basket D-4 APPENDIX E Alternate Financial Scenario E-1 Assumptions for Alternate Financial Scenario E-5 Proforma: Enterprise Fund E-7 Proforma: AWRDIF Fund E-8 Proforma: PWSDIF Fund E-9 Proforma: Summary of All Funds E-11 Potable Water Rate Schedule E-12 Reclaimed Water Rate Schedule E-13 Tables for Bill Comparisons by Meter Size ALTERNATE FINANCIAL SCENARIO ASSUMPTIONS FOR ENTERPRISE FUND Growth rJ FY 08-09: 250 new connections for water rates (based on current housing trends) FY 09-10, 10-11, 11-12 & 12-13: 320 new connections for water rates (based on Homebuilding Forecast by John Strobeck, Bright Future Business Consultants, 2007) rJ Water Rate Structure 4 Tiers — existing rate structure; changes to usage allowed in some of the tiers to bring into conformance with AWWA capacity ratios. Water Rate Increases FY 08-09 = 2.5%, FY 09-10 = 7%, FY 10-11 =7%, FY 11-12 = 11% and FY 12-13 = 8% (same increases in base & commodity rates) Construction Water Rate $1.00 more than Tier 4 in each year © Potable GPF Rates (cost per 1,000 gallons) FY 08-09 = $0.55, FY 09-10 = $0.75, FY 10-11=$1.00, FY 11-12 = $1.30 and FY 12-13 = $1.30 © Reclaimed GPF Rates (cost per 1,000 gallons) 'J FY 08-09=$0.30, FY 09-10 = $0.40, FY 10-11 = $0.50, FY 11-12 = $0.80 and r, FY 12-13 = $0.80 Water Use Trends Used same water use trends as those in CY 2007. The average monthly water use for a residential customer with a 5/8 x 3/4 inch water meter dropped to 9,000 gallons per month in CY 2007 from 10,000 gallons in CY 2006. For this analysis 9,000 gallons were used as the average monthly water use. Other Revenue Based on FY 08-09 proposed budget. Did not project increases as misc. charges fluctuate (NSF fees, reconnect fees, sewer billing, stormwater billing, plan review) Beginning Cash Balance Refer to Beginning Cash Balance Worksheet. Interest Income The average interest rate for the Local Government Investment Pool over the past two years is 4.57%. Based on recent trends, the interest rate in FY 08-09 is 3.5% and 4.0% for all remaining years. (refer to Interest Income Worksheets) Personnel Costs J Based on Utility's proposed budget for FY 08-09, added 1 new FTE in J in all remaining years, annual increases of 6% for COLA / Merit all years Potable O&M Based on Utility's proposed budget for FY 08-09; 2.5% inflation for all remaining years. FY 08-09 includes cost increase for Tucson Electric Power's proposed rate increase. j Reclaimed O&M Based on Utility's proposed budget for FY 08-09; FY 08-09 begin serving 2E1 Conquistador golf courses with reclaimed, water purchased increases by 1,000 AF, 2.5% inflation for all remaining years. J E-1 ALTERNATE FINANCIAL SCENARIO ASSUMPTIONS FOR ENTERPRISE FUND (continued) CAP Capital Costs Based on 10,305 AF at rate schedule revised by CAP 8/2/07. CAP Treatment & Delivery Costs Assumed that direct delivery of CAP water will begin in January 2013. Costs estimated by P. Saletta using data from Carollo Study dated July 2007 CAP Recharge Costs Based on rate schedule revised by CAP 8/2/07 as follows: FY 08-09=4,000 AF FY 09-10=4,000 AF FY 10-11=4,000 AF FY 11-12=2,500 AF No recharge in FY 12-13 when CAP deliveries begin. CAGRD Costs Based on S. Seng worksheet and rate schedule recommended by CAP 9/20/07. Debt Service P&I debt service for 1999-2003 bonds taken from amortization schedules provided by Stone &Youngberg (S&Y). P&I debt service for 2003 Sr. Lien Bonds taken from amortization schedules provided by S&Y. P&I debt service for 2005 Excise Tax Bonds taken from amortization schedule provided by S&Y. P&I debt savings for 2007 Refunding taken from schedules provided by S&Y. P&I debt service for proposed 2008 Excise Tax Bonds is an estimated annual payment for the Water Utility's portion of the Municipal Operations Center. Information was provided by Stacey Lemos, Finance Director and Stone & Youngberg. P&I debt service for proposed 2010 Sr. Lien Bonds was estimated by S. Seng using $7,000,000 at 5.0% for 20 years. Debt Service Coverage Established at 1.30 by Mayor & Council Water Policies Capital Improvements Projects are identified in 5-Year CIP and Potable Water System Master Plan. E-2 ALTERNATE FINANCIAL SCENARIO ASSUMPTIONS FOR AWRDIF FUND Growth FY 08-09: 250 new connections for water rates, 312 EDUs for impact fees (250 x 1.25 = 312) (based on current housing trends) FY 09-10, 10-11, 11-12 & 12-13: 320 new connections for water rates, 400 EDUs for impact fees (320 x 1.25 = 400) (based on Homebuilding Forecast by John Strobeck, Bright Future Business Consultants, 2007) AWRD Impact Fees Increase to $5,182 per EDU phased -in over 5 years, Ordinance No. (0) 07-32 Revenue FY 08-09 revenue derived from 78 EDUs at $1,300 plus 234 EDUs at $2,270 FY 09-10 revenue derived from 100 EDUs at $2,270 plus 300 EDUs at $3,240 FY 10-11 revenue derived from 100 EDUs at $3,240 plus 300 EDUs at $4,210 FY 11-12 revenue derived from 100 EDUs at $4,210 plus 300 EDUs at $5,182 FY 12-13 revenue derived from 400 EDUs at $5,182 Potable GPF Rates (cost per 1,000 gallons) FY 08-09 = $0.55, FY 09-10 = $0.75, FY 10-11=$1.00, FY 11-12 = $1.30 and FY 12-13 = $1.30 Reclaimed GPF Rates (cost per 1,000 gallons) FY 08-09=$0.30, FY 09-10 = $0.40, FY 10-11 = $0.50, FY 11-12 = $0.80 and FY 12-13 = $0.80 Water Use Trends Used same water use trends as those in CY 2007. The average monthly water use for a residential customer with a 5/8 x 3/4 inch water meter dropped to 9,000 gallons per month in CY 2007 from 10,000 gallons in CY 2006. For this analysis 9,000 gallons were used as the average monthly water use. Beginning Cash Balance Refer to Beginning Cash Balance Worksheet. Interest Income The average interest rate for the Local Government Investment Pool over the past two years is 4.57%. Based on recent trends, the interest rate in FY 08-09 is 3.5% and 4.0% for all remaining years. (refer to Interest Income Worksheets) Debt Service P&I debt service for 2003 bonds (reclaimed phase 1) taken from amortization schedules provided by Stone & Youngberg. P&I debt service for 2007 WIFA loan (reclaimed phase 2) estimated by S. Seng using $5,000,000 at 3.536% interest over 20 years. P&I debt service for CAP project estimated by Stone & Youngberg with project costs identified in the Carollo Study dated July 2007 Debt service for reallocation of 3,557 AF of CAP water was provided by CAWCD. Reclaimed Capital Improvements Projects are identified in 5-Year CIP. E-3 ALTERNATE FINANCIAL SCENARIO ASSUMPTIONS FOR PWSDIF FUND 0 Growth FY 08-09: 250 new connections for water rates, 312 EDUs for impact fees (250 x 1.25 = 312) (based on current housing trends) FY 09-10, 10-11, 11-12 & 12-13: 320 new connections for water rates, 400 EDUs for impact fees (320 x 1.25 = 400) (based on Homebuilding Forecast by John Strobeck, Bright Future Business Consultants, 2007) PWSD Impact Fees Increase impact fees to $2,567 per EDU effective 10/01/07, Ordinance No. (0) 07-31. Revenue FY 08-09 revenue derived from 312 EDUs at at $2,567 Revenue for all remaining years derived from 400 EDUs at $2,567. Series 2003 bonds are completely used by end of FY 09-10 Beginning Cash Balance rJ' Refer to Beginning Cash Balance Worksheet. ,�. Interest Income The average interest rate for the Local Government Investment Pool over the past two years is 4.57%. Based on recent trends, the interest rate in FY 08-09 is 3.5% and 4.0% for all remaining years. (refer to Interest Income Worksheets) Debt Service ,J P&I debt service for 2003 bonds (expansion related projects) taken from amortization schedules provided by Stone & Youngberg. No further financing is projected. Capital Improvements Capital projects (growth related) are identified in the Potable Water System Master Plan and the 5-Year CIP. 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