Page 59 - Manfield FY21 Budget

Utility Fund Strategic Plan Summary

2026 2027 2028 2029 2030
Projected Projected Projected Projected Projected
REVENUE DESCRIPTION:
Water Sales $ 20,542,251 $ 21,158,519 $ 21,793,274 $ 22,447,072 $ 23,120,484
Sewer Sales 15,385,384 16,154,653 16,962,386 17,810,505 18,701,030
Wholesale 2,848,156 2,876,638 2,905,404 2,934,458 2,963,803
Other fees 1,772,375 1,789,681 1,807,160 1,807,160 1,807,160
Impact Fees 1,500,000 1,500,000 1,500,000 1,500,000 1,500,000
Interest Income 205,000 205,000 205,000 205,000 205,000
TOTAL REVENUE: $ 42,253,167 $ 43,684,491 $ 45,173,224 $ 46,704,195 $ 48,297,477
EXPENSE DESCRIPTION:
Administration: 1,695,349 1,780,116 1,869,122 1,962,578 2,060,707
Billing and Collection: 1,157,561 1,215,439 1,276,211 1,340,022 1,407,023
Meter Reading and Repair: 1,273,130 1,336,787 1,403,626 1,473,807 1,547,497
Water & Distribution: 1,291,915 1,356,511 1,424,336 1,495,553 1,570,331
Waste Water Collection: 10,560,366 11,088,384 11,642,804 12,224,944 12,836,191
Water Quality Control: 12,179,037 12,787,989 13,427,388 14,098,758 14,803,696
Other 1,515,508 1,591,283 1,670,848 1,754,390 1,842,109
TOTAL OPERATING EXP: 29,672,866 31,156,509 32,714,335 34,350,052 36,067,554
OPERATING REVENUE: 12,580,301 12,527,982 12,458,889 12,354,144 12,229,923
OTHER EXPENSES:
Transfers 3,236,582 3,398,412 3,568,332 3,746,749 3,934,086
Debt Service 3,739,181 3,742,881 3,739,000 3,347,700 3,339,263
TOTAL OTHER OPERATING: 6,975,763 7,141,293 7,307,332 7,094,449 7,273,349
NET OPERATING ACTIVITY: $ 5,604,537 $ 5,386,689 $ 5,151,557 $ 5,259,695 $ 4,956,575
COVERAGE FACTOR:
Annual Debt Service 2.50 2.44 2.38 2.57 2.48
Maximum Annual Require 3.36 3.35 3.33 3.69 3.66
Average Annual Require 6.67 7.37 8.46 10.39 13.89

For illustration purposes the plan has been prepared to allow for modest rate adjustments
throughout the decade. Without rate increases, the model suggests fiscal stress will be
encountered during this period unless revenue or expenses are adjusted. The Average
Annual Requirement is the leading indicator of potential fiscal stress. Although
increasing, coverage factors remain fairly constant and suggest a good bill of fiscal health
in the Water and Sewer Fund. Rates during this period may or may not be adjusted
depending upon the factors affecting the economic variables assumed in this model.

59