HomeMy WebLinkAbout2014 - LBWL Lansing Board of Water and Light - Budget FY 2015 W
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June 1, 2014
Electronic Delivery
Mr. Chris Swope, City Clerk
City of Lansing
124 W. Michigan Avenue, 91" Floor
Lansing, MI 48933
Re: Budget for Fiscal Year Ending June 30, 2015
Dear Mr. Swope:
In accordance with provisions of the Lansing City Charter, Article 5, Chapter 2, Section
5-203.5, a copy of the Lansing Board of Water and Light Budget for Fiscal year ending
June 30, 2014, is filed with your office.
The Board of Commissioners adopted the budget at a regular board meeting held May
27, 2014.
Respectfully submitted,
May 29 2014
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CoSign@)
M. Denise Griffin
Corporate Secretary
cc: J. Peter Lark,General Manager, BWL
Susan Devon,Assistant General Manager, BWL
Chris Swope, City Clerk,Lansing MI
Virgil Bernero, Mayor City of Lansing, MI
FY 2015 Income Statement ( by Utility)
CHILLED
$(000) ELECTRIC WATER STEAM WATER TOTAL
SALES (mwh, ccf, mlb, ton-hrs) 3,061 ,060 9,460,006 730,936 10,307,100
Retail 270,106 36,121 15,771 5,532 327,529
Wholesale 38,572 3,551 0 0 42,123
OPERATING REVENUE 308,678 39,672 15,771 5,532 369,652
Operation & Maintenance Expense (248,186) (26,999) (10,971) (2,240) (288,396)
Depreciation Expense 30,945 6,941 2,502 1 ,450 41 ,838
TOTAL OPERATING EXPENSE (279,131) (33,940) (13,474) (3,690) (330,235)
OPERATING INCOME (LOSS) 29,547 5,732 2,297 1,842 39,417
Payment in lieu of taxes (18,597) (2,384) (952) (337) (22,271)
Other Non-Operating Income 318 731 (170) 46 925
Other Non-Operating Expense 10,735 2,083 1 ,989 730 15,537
NET INCOME (LOSS) 532 1,995 (814) 820 2,534
Hometown People.Hometown Power.
FY 2015 Cash Flow ( by Utility)
CHILLED
$(000) ELECTRIC WATER STEAM WATER TOTAL
PROJECTED CASH FLOW FY 2015
BEGINNING OPERATING CASH 54,375 12,105 5,040 3,480 75,000
Sources of Cash
Net Income 532 1 ,995 (814) 820 2,534
Depreciation 30,945 6,941 2,502 1 ,450 41,838
Loss on Sale of Assets 711 371 260 0 1,342
CSO Project- SRF Bonds 0 0 0 0 0
Construction Reserve 2,900 646 269 186 4,000
Bond Proceeds 12,325 2,744 1,142 789 17,000
Net Environmental 1,587 0 66 0 1,654
CECO Pipeline Refund 2,390 0 455 0 2,845
SOURCES OF CASH 51,390 12,698 3,881 3,244 71,213
Uses of Cash
Debt Principal (624) (1 ,479) (1) (1 ,380) (3,484)
Net Capital Expenditures (43,089) (16,165) (3,008) (3,151) (65,413)
Renewable Energy Plan (969) 0 0 0 (969)
Other Uses of Cash 276 26 381
USES OF CASH (44,958) (17,706) (3,034) (4,549) (70,247)
Net Cash Increase/(Decrease) 6,432 (5,008) 847 (1,305) 966
ENDING OPERATING CASH 60,807 7,097 5,887 2,175 75,966
Beginning Operating Cash includes O& M Fund and Receiving Fund only, Designated funds and Restricted Bond Funds
W not included, ($78.3 and$65.5 million respectively as of March 31, 2014)
Hometown People.Hometown Pawer.
Annual Capital and Planned Capital Additions
Six Year Forecast FY 2015-2020
Board of Water and Light
Dollars in(000's)
2015 2016 2017 2018 2019 2020 Six Year Totals
ELECTRIC
Sub-Total Revenue 4,898 11,528 16,565 17.266 5.807 5,357 63,522
Sub-Total Non-Revenue 25,398 47,910 3G.851 34.960 37.199 43,832 226,148
TOTAL ELECTRIC 30,296 59,439 53,517 52,226 44,006 50,189 289,670
WATER
Sub-Total Revenue 1,037 1,465 705 2.396 1.490 275 7,368
Sub-Total Non-Revenue 8,742 11,9Gi 16.528 12.630 11.455 10,765 71,581
TOTAL WATER 9,779 13,42G 17,333 14,426 12,945 11,040 78,949
STEAM
Sub-Total Revenue - - - - - - -
Sub-Total Non-Revenue 2,135 6,503 3.445 3.445 3,450 3,550 22,528
TOTALSTEAM 2,135 6,503 3,445 3,445 3,450 3,550 22,528
CHILLED WATER
Sub-Total Revenue - - - - - - -
Sub-Total Non-Revenue 2,020 150 225 150 150 150 2,945
TOTAL CHILLED WATER 2,020 150 225 150 150 150 2,845
COMMON
Sub-Total Revenue - - - - - - -
Sub-Total Non-Revenue 21,183 10,183 17,225 13,109 3520 3,938 69,159
TOTAL COMMON 21,183 10,183 17,225 13,109 3,520 3,938 69,159
CAPITAL BUDGET SUMMARY
Sub-Total Revenue 5,935 12,993 17,371 19,662 8,297 5,632 7(3,890
Sub-Total Non-Revenue 59,478 76,706 74.374 G3.G94 55.774 62,235 392,260
TOTAL BUDGET 65,413 89,699 91,745 83,356 64,071 68,867 463,150
Revenue Projects: Revenue producing, customer driven capital additions and projects justified by a 5 year
cost/benefit analysis.
Hometown People.Hometown Power.