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Section IX - SWCO FY20 Budget FY2020 BUDGET PROJECTION • ENTERPRISE FUNDS: SIASCONSET WATER FY2020 Budget Siasconset Enterprise Fund FY2019 Siasconset Enterprise Fund Review •Mission: Siasconset Water Department strives to provide high quality drinking water, provide water for fire protection needs and provide the highest level of customer and water related support services achievable. •Goals: Continue to provide safe drinking water, sufficient water for fire fighting and strive to provide a positive customer service experience. •Initiatives and Accomplishments: 1. Completed conversion of the meter reading system to the FlexNet fixed based system 2. Removed obsolete valves on Baxter Road and Sankaty Road to increase flow and water pressure. 3. Completed flushing and application of orthophosphate for corrosion control SIASCONSET ENTERPRISE FUND FY2020 Siasconset Enterprise Fund Overview •Priorities: 1. Replacement of the Baxter Road Water Main (Capital Budget) 2. Develop Fire Hydrant Upgrade Program 3. Power Washing and Treatment of the Composite Elevated Tank 4. Revision of Siasconset Wellhead Protection District for submittal to MassDEP 5. Maintain current rates until completion of rate study undertaken by Wannacomet •Significant Changes Year-to-Year The most significant change will be the finalization of the recently approved merger of the Siasconset Water Department and the Wannacomet Water Company under an expanded Nantucket Water Commission. •Key Issues 1. Impact of regulatory changes proposed by the Drought Management Task Force and proposed changes to the to Public Water Supply system classification structure 2. Approval by MassDEP of Revised Siasconset Wellhead Protection District SIASCONSET ENTERPRISE FUND FY2020 Budget Siasconset Enterprise Fund SIASCONSET ENTERPRISE FUND SUMMARY FY2016 ACTUAL FY2017 ACTUAL FY2018 ACTUAL FY2019 ACTUAL YTD SIMPLE AVERAGE COMPOUND ANNUAL GROWTH RATE FY2019 BUDGET FY2020 Budget $ INC/(DEC) FY20/FY19 % INC/(DEC) FY20/FY19 Payroll-Salary -$ -$ -$ -$ -$ na -$ -$ -$ na Medicare P/R Tax Expenses - - - - -$ na - - - na Medical Insurance 33,189 37,770 38,668 7,883 36,542$ 7.9% 42,195 46,415 4,220 10.0% Barnstable County Retirement - 18,279 - - 6,093$ na 19,710 21,386 1,676 8.5% Utilities 25,052 26,338 25,475 6,009 25,622$ 0.8% 29,400 29,500 100 0.3% Repairs & Maintenance 10,581 10,600 9,195 5,100 10,125$ (6.8%) 68,000 42,000 (26,000) (38.2%) Professional Services 100,787 87,901 103,231 750 97,306$ 1.2% 188,600 125,600 (63,000) (33.4%) Debt Service 867,521 586,998 580,361 23,163 678,293$ (18.2%) 586,836 562,186 (24,650) (4.2%) General Insurance 21,847 29,710 6,250 - 19,269$ (46.5%) 40,000 44,000 4,000 10.0% Other Supplies 530 - - - 177$ (100.0%) 200 200 - - Field Work-Water - 3,530 7,650 2,558 3,727$ na 30,000 15,000 (15,000) (50.0%) Other - Including Indirect Costs 16,282 45,641 36,208 - 32,710$ 49.1% 58,032 99,759 41,727 71.9% TOTAL SIASCONSET 1,075,788$ 846,766$ 807,037$ 45,462$ 909,864$ (13.4%) 1,062,973$ 986,046$ (76,927)$ (7.2%) Appendix Siasconset Enterprise Fund Town & County of Nantucket Organization Chart –Siasconset Enterprise Fund Under a Memorandum of Agreement with the Nantucket Water Commission Management, Administrative and Operational services are provided through the Wannacomet Water Company Gerald Eldridge Siasconset Water Commissioner John Pearl Siasconset Water Commission Robert Benchley Siasconset Water Commissioner SIASCONSET ENTERPRISE FUND FY2020 Budget Detail SIASCONSET ENTERPRISE FUND FY2020 Siasconset Enterprise Fund Exceptions SIASCONSET ENTERPRISE FUND Positions Operational Expenses (1) N/A N/A Capital Items 1.Water Main Replacement: $1,943,355 (1) Non-controllable expenses such as general insurance, medical insurance, pension costs and others are excluded. TOWN OF NANTUCKET SIASCONSET WATER ENTERPRISE FUND ACTUAL BUDGET PROJECTED BUDGET FY2018 FY2019 FY2020 Revenue 1,017,920 1,062,973 986,046 Expenses 800,787 1,062,973 986,046 Net Earnings 217,133 - - Transfer from Retained Earnings 45,186 - - Net Earnings after R/E Transfer 262,319 - - Ending FB 262,319 - - TOTAL Certified Retained Earnings as of July 1, 2018 1,320,766 SIASCONSET WATER ENTERPRISE FUND FY2020 BUDGET PROJECTION APPROVED BY WATER COMMISSION 3-YEAR ACTUAL DEPT ACCOUNT ACCOUNT NAME FY2016 ACTUAL FY2017 ACTUAL FY2018 ACTUAL FY2019 ACTUAL YTD SIMPLE AVERAGE COMPOUND ANNUAL GROWTH RATE FY2019 BUDGET FY2020 Budget $ INC/(DEC) FY20/FY19 % INC/(DEC) FY20/FY19 61450 42110 WATER USE FEE (1,029,971)$ (1,049,310)$ (967,947)$ (263,956)$ (1,015,743)$ (3.1%) (1,013,000)$ (932,000)$ 81,000$ (8.0%) 61450 42111 WATER CONNECTION FEE - - -$ -$ -$ na - na 61450 42460 SIASCONSET WATER INCOME - - -$ -$ -$ na -$ na 61450 43606 RENTAL FEES (47,104) (48,517) (49,973)$ -$ (48,531)$ 3.0% (49,973) (54,046) (4,073) 8.2% 61450 48201 INTEREST ON INVESTMENTS (347) - -$ -$ (116)$ (100.0%) - - - na 61450 48400 MISC REVENUES - - -$ -$ -$ na - - - na 61450 49102 PROCEEDS FROM BOND SALE - - -$ -$ -$ na - - - na 61450 49104 PREMIUM REVENUE ON DEBT (15,006) (10,948) -$ -$ (8,651)$ (100.0%) - - - na 61450 49701 TRANSFER FROM GENERAL FUND - - -$ -$ -$ na - - - na TOTAL REVENUE (1,092,429) (1,108,775) (1,017,920) (263,956) (1,073,041) (3.5%) (1,062,973) (986,046)$ 76,927 (7.2%) 61450 51100 SALARY, PERMANENT - - -$ -$ -$ na - - - na 61450 51102 SALARY, TEMPORARY - - -$ -$ -$ na - - - na 61450 51700 LONGEVITY PAY - - -$ -$ -$ na - - - na 61450 51701 INS PREM:MEDICAL BLUE CROSS 33,189 37,770 38,668$ 7,883$ 36,542$ 7.9% 42,195 46,415 4,220 10.0% 61450 51770 BARNSTABLE COUNTY RETIREMT FND - 18,279 -$ -$ 6,093$ na 19,710 21,386 1,676 8.5% 61450 51960 COMPENSATION/UNEMPLOYMENT - - -$ -$ -$ na - - - na 61450 51961 MEDICARE P/R TAX - - -$ -$ -$ na - - - na 61450 51963 WORKMANS COMPENSATION - - -$ -$ -$ na - - - na SUBTOTAL SALARY EXPENSE 33,189 56,049 38,668 7,883 42,635 7.9% 61,905 67,801 5,896 9.5% 61450 52101 UTILITY:ELECTRICITY 20,618 22,375 20,498$ 5,481$ 21,164$ (0.3%) 25,000 25,000 - - 61450 52104 UTILITY:PROPANE 4,242 3,963 4,781$ 528$ 4,329$ 6.2% 4,200 4,300 100 2.4% 61450 52107 UTILITY: LANDFILL 192 - 196$ -$ 129$ 1.0% 200 200 - - 61450 52403 REP&MAINT:VEHICLE - - -$ -$ -$ na - - - na 61450 52405 REP&MAINT:EQUIPMENT 3,079 1,487 350$ -$ 1,639$ (66.3%) 3,000 2,000 (1,000) (33.3%) 61450 52410 REP&MAINT:GENERAL 7,502 9,113 8,845$ 5,100$ 8,487$ 8.6% 65,000 40,000 (25,000) (38.5%) 61450 53100 PROFESSIONAL SERVICES 15,678 1,958 13,547$ -$ 10,395$ (7.0%) 85,000 30,000 (55,000) (64.7%) 61450 53101 PROFESSIONAL SERVICES:WANNACOMET 80,000 80,000 81,500$ -$ 80,500$ 0.9% 88,000 80,000 (8,000) (9.1%) 61450 53103 GENERAL:ADVERTISING 168 420 1,211$ -$ 600$ 168.5% 500 500 - - 61450 53107 PROF SVCS-WATER ANALYSIS 3,217 4,253 6,212$ 445$ 4,561$ 39.0% 13,000 13,000 - - 61450 53108 OUTSOURCE BILLING 1,891 1,690 1,972$ 305$ 1,851$ 2.1% 2,600 2,600 - - 61450 53110 GENERAL: PRINTING 473 458 357$ -$ 429$ (13.1%) 750 750 - - 61450 53401 COMM:TELEPHONE - - -$ -$ -$ na - - - na 61450 COMM:POSTAGE - - -$ -$ -$ na 6,200 6,200 - - 61450 53803 OTHER:LICENSES & TAXES 464 517 557$ -$ 513$ 9.5% 600 600 - - 61450 53804 OTHER:FREIGHT 177 62 83$ -$ 107$ (31.5%) 100 100 - - 61450 53805 OTHER:FIELD WORK-WATER - 3,530 7,650$ 2,558$ 3,727$ na 30,000 15,000 (15,000) (50.0%) 61450 54101 ENERGY:GAS & DIESEL - - -$ -$ -$ na - - - na 61450 54201 OFFICE SUPPLIES - - -$ -$ -$ na - - - na 61450 54302 BLDG&EQ:MAINT & SUPPLIES 530 - -$ -$ 177$ (100.0%) 200 200 - - 61450 54701 SAFETY:UNIFORMS - - -$ -$ -$ na - - - na 57404 INS PREM:BLANKET INS,BLDG - - -$ -$ -$ na 40,000 44,000 4,000 10.0% 61450 57899 CONTINGENCY RESERVE - - -$ -$ -$ na - - - na SIASCONSET WATER ENTERPRISE FUND FY2020 BUDGET PROJECTION APPROVED BY WATER COMMISSION 3-YEAR ACTUAL DEPT ACCOUNT ACCOUNT NAME FY2016 ACTUAL FY2017 ACTUAL FY2018 ACTUAL FY2019 ACTUAL YTD SIMPLE AVERAGE COMPOUND ANNUAL GROWTH RATE FY2019 BUDGET FY2020 Budget $ INC/(DEC) FY20/FY19 % INC/(DEC) FY20/FY19 61450 58702 WATER COMMISSION RESERVE FUND - 7,184 -$ -$ 2,395$ na 15,882 57,609 41,727 262.7% 61450 59101 DEBT SERV:PRINCIPAL 620,000 385,000 380,000$ -$ 461,667$ (21.7%) 395,000 400,000 5,000 1.3% 61450 59102 DEBT SERVICE INTEREST 247,521 201,998 200,361$ 23,163$ 216,626$ (10.0%) 186,836 162,186 (24,650) (13.2%) 61450 59250 INTEREST: GENERAL - - -$ -$ -$ na 5,000 - (5,000) (100.0%) 61450 59501 OTHER FIN:GENERAL - - -$ -$ -$ na - - - na 61450 59502 INDIRECT COSTS - 37,000 34,000$ -$ 23,667$ na 34,000 34,000 - - 61450 59991 TRANSFER TO GENERAL FUND 15,000 - -$ -$ 5,000$ (100.0%) - - - na SUBTOTAL OPERATIONS EXPENSES 1,020,752 761,008 762,119 37,579 847,960 (13.6%) 1,001,068 918,245 (82,823) (8.3%) SIASCONSET WATER ENTERPRISE FUND GRAND TOTAL TOTAL REVENUE (1,092,429)$ (1,108,775)$ (1,017,920)$ (263,956)$ (1,073,041)$ (3.5%) (1,062,973)$ (986,046)$ 76,927$ (7.2%) TOTAL EXPENSE 1,053,941$ 817,056$ 800,787$ 45,462$ 890,595$ (12.8%) 1,062,973$ 986,046$ (76,927)$ (7.2%) VARIANCE (EXCESS) DEFICIT (38,488) (291,719) (217,133) (218,495) (182,447) 137.5% -$ -$ -$ na SIASCONSET WATER ENTERPRISE Waterfall Schedule- FY2020 Budget PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL Issue Payments Payments Payments Payments Payments Payments Payments Payments Payments Payments Purpose Date FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 SIASCONSET WATER ENTERPRISE TOTAL DEBT 5,974,900.00 5,589,900.00 5,209,900.00 4,814,900.00 4,414,900.00 4,004,900.00 3,584,900.00 3,149,900.00 2,699,900.00 2,234,900.00 WATER TANK (ORIG)3/15/2009 170,000.00 175,000.00 185,000.00 WATER TANK (SUPP)3/15/2009 110,000.00 110,000.00 115,000.00 LOW BEACH WATER MAIN 2/15/2010 70,000.00 70,000.00 70,000.00 70,000.00 70,000.00 70,000.00 70,000.00 70,000.00 70,000.00 70,000.00 WATER PUMP STATION 10/22/2015 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 Refi SWCO Tank1 09 3.9M Jul'16 8/3/2016 6,000.00 187,000.00 192,000.00 197,000.00 207,000.00 217,000.00 227,000.00 236,000.00 Refi SWCO Tank2 09 2.47M Jul'16 8/3/2016 4,000.00 118,000.00 123,000.00 128,000.00 133,000.00 138,000.00 143,000.00 147,000.00 TOTAL SIASCONSET DEBT 385,000.00 380,000.00 395,000.00 400,000.00 410,000.00 420,000.00 435,000.00 450,000.00 465,000.00 478,000.00 INTEREST INTEREST INTEREST INTEREST INTEREST INTEREST INTEREST INTEREST INTEREST INTEREST Issue Payments Payments Payments Payments Payments Payments Payments Payments Payments Payments Purpose Date FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 SIASCONSET WATER ENTERPRISE WATER TANK (ORIG)3/15/2009 20,475.00 15,375.00 9,250.00 WATER TANK (SUPP)3/15/2009 12,900.00 9,600.00 5,750.00 LOW BEACH WATER MAIN 2/15/2010 36,925.00 34,125.00 31,325.00 28,525.00 26,425.00 23,625.00 21,525.00 18,725.00 16,450.00 13,650.00 WATER PUMP STATION 10/22/2015 20,186.22 12,762.50 12,012.50 11,262.50 10,637.50 10,137.50 9,512.50 8,762.50 8,012.50 7,262.50 Refi SWCO Tank1 09 3.9M Jul'16 8/3/2016 68,138.67 78,520.00 78,520.00 74,780.00 67,200.00 59,420.00 51,340.00 42,860.00 33,980.00 24,720.00 Refi SWCO Tank2 09 2.47M Jul'16 8/3/2016 43,372.93 49,978.00 49,978.00 47,618.00 42,798.00 37,778.00 32,558.00 27,138.00 21,518.00 15,718.00 TOTAL SIASCONSET DEBT 201,997.82 200,360.50 186,835.50 162,185.50 147,060.50 130,960.50 114,935.50 97,485.50 79,960.50 61,350.50 PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL PRINCIPAL Payments Payments Payments Payments Payments Payments Payments Payments Payments Payments FY2027 FY2028 FY2029 FY2030 FY2031 FY2032 FY2033 FY2034 FY2035 FY2036 1,756,900.00 1,259,900.00 755,000.00 235,000.00 140,000.00 115,000.00 90,000.00 65,000.00 40,000.00 20,000.00 70,000.00 70,000.00 70,000.00 70,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 25,000.00 20,000.00 20,000.00 245,000.00 250,000.00 260,000.00 157,000.00 159,900.00 165,000.00 497,000.00 504,900.00 520,000.00 95,000.00 25,000.00 25,000.00 25,000.00 25,000.00 20,000.00 20,000.00 INTEREST INTEREST INTEREST INTEREST INTEREST INTEREST INTEREST INTEREST INTEREST INTEREST Payments Payments Payments Payments Payments Payments Payments Payments Payments Payments FY2027 FY2028 FY2029 FY2030 FY2031 FY2032 FY2033 FY2034 FY2035 FY2036 10,850.00 8,400.00 5,600.00 2,800.00 6,543.75 5,856.25 5,168.75 4,481.25 3,793.75 3,075.00 2,325.00 1,575.00 900.00 300.00 15,100.00 7,700.00 2,600.00 9,638.00 4,899.00 1,650.00 42,131.75 26,855.25 15,018.75 7,281.25 3,793.75 3,075.00 2,325.00 1,575.00 900.00 300.00