FY 2020-2024 Capital Improvement Plan
City of Spencer, Iowa Landfill Enterprise Fund
EXHIBIT 2
Growth Assumptions
Other O&M Expenses
6.00% 3.00% 0.85%
Salary Expense
Interest Rate - Cash Balances
Unaudited Projected FY 2014-15 FY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 Audited Financial Statements Budget Projected Projected Projected Projected
Net Fund Transfers From Operating Cash +/(-) Debt Service Reserve Fund 51
($350,000)
$31,575
$0
$318,425
$0
$0
$0
$0
$0
$0
0
0
0
0
0
0
0
0
0
0
+/(-) Debt Service Sinking Fund
52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71
(35,860) (93,030) (150,233) (249,533) (34,377) (15,825) (85,742) (18,296)
(251,888)
(182,316) (138,324) (352,108) (95,211) (41,555) (117,550) (20,329) ($948,603) (1,209)
(65,612) (65,364) (661,981) 471,145 (20,521) (84,373) 22,329 (18,949) ($104,902)
(40,000) (157,000) (29,000) (130,500) (20,692)
(47,313) (109,364) (544,353) 426,089 (37,017)
(47,715) (110,293) (153,980) (128,789) (37,332)
(48,121) (111,231) (495,288) (129,884) (37,649)
(48,530) (112,176) 380,502 282,512 (37,969)
(48,943) (113,130) (436,264) (128,587) (38,292)
+/(-) Post Closure Fund +/(-) Closure Fund
(6,614)
(158,457) (133,702) (19,867) 25,697 (36,508) (10,545) ($560,310)
+/(-) Improvement/Equipment Fund +/(-) Cell Construction Fund +/(-) Regional Collection Center +/(-) Environmental Management Fund +/(-) Recycling Reserve
0
(853)
(860)
(867)
(874)
(882)
(21,690) 12,480
(36,444) (18,006)
(36,444) (18,159)
(36,444) (18,314)
(36,444) (18,469)
(36,444) (18,626)
+/(-) Planning Reserve
Total Fund Transfers In / (Out)
($1,032,897)
($386,402)
($367,261)
($533,573)
($877,798)
$408,550
($821,167)
Designated & Restricted Cash Debt Service Reserve Fund Debt Service Sinking Fund
$350,000
$318,425
$318,425
$0
$0
$0
$0
$0
$0
$0
0
0
0
0
0
0
0
0
0
0
1,497,040 734,302 1,075,222 571,869 170,917
1,748,928 740,916 1,233,679 705,571 190,784
1,931,244 879,240 1,585,787 800,782 232,339
1,996,856 944,604 2,247,768 329,637 252,861 100,295 295,881 187,349
2,036,856 1,101,604 2,276,768 460,137 273,553 100,295 317,571 174,869
2,084,170 1,210,968 2,821,121
2,131,885 1,321,261 2,975,100 162,838 347,902 102,007 390,459 211,035
2,180,006 1,432,492 3,470,389 292,722 385,551 102,874 426,903 229,349
2,228,536 1,544,668 3,089,887
2,277,479 1,657,798 3,526,151 138,797 461,812 104,630 499,791 266,444
Post Closure Fund
Closure Fund
Improvement/Equipment Fund Cell Construction Fund Recycling Reserve Regional Collection Center Environmental Management Fund
34,048 310,570 101,147 354,015 192,875
10,210 423,520 103,748 463,347 247,818
40,410 164,152 137,526
14,713 200,660 148,071
15,922 318,210 168,400
Local Planning Reserve Total Restricted Cash
72 $4,741,437 $5,301,747 $6,250,350 $6,355,251 $6,741,653 $7,108,914 $7,642,487 $8,520,285 $8,111,735 $8,932,902
Total Cash Balance
73 $5,255,505 $5,925,406 $6,925,449 $7,069,305 $7,637,531 $7,776,501 $8,338,347 $9,238,026 $8,865,553 $9,716,714
Deposit to Equipment Fund Deposit to Post Closure Fund Deposit to Closure Fund Deposit to Cell Constr. Fund
$400,000 $30,000 $150,000 $128,500
$525,000 $30,000 $100,000 $300,000
$190,000 $30,000 $100,000 $128,500
$470,000 $30,000 $100,000 $128,500
$10,000 $30,000 $100,000 $475,000
$410,000 $30,000 $100,000 $128,500
Prepared by PFM Financial Advisors LLC
Page 3 of 4
Date: 12/21/2018
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