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Home My WebLink About2017 - LBWL Lansing Board of Water and Light - Budget FY 2018 v2pdf Hometown People. Hometown Power: June 1, 2017 Electronic Delivery Honorable Lansing City Clerk, Chris Swope City of Lansing 124 W. Michigan Avenue, 9th Floor Lansing, MI 48933 Re: Budget for Fiscal Year Ending June 30, 2018 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's Budget for Fiscal Year ending June 30, 2018, is officially being filed with your office. The Board of Commissioners adopted the budget at a regular board meeting held May 23, 2017. Respectfully submitted, M. Denise Digitally signed M.Denise Griffin DN:cn=M.Denise Griffin,o=Board of Water and Light,ou, email=M Griffin Date:201D7 06.01G12:05 35g qL 0' M. Denise Griffin Corporate Secretary Attachments Electronically Copied: General Manager Dick Peffley Chief Financial Officer Heather Shawa Virgil Bernero, Mayor City of Lansing Lansing City Council President, Patricia Spitzley,and Lansing City Council Members FY 2018 Income Statement by Utility $(000) ELECTRIC WATER STEAM CHILLED WATER TOTAL SALES (MWh, ccf, Mlb, ton-hrs) 2,847,690 8,794,943 734,136 11,134,000 Retail $ 269,569 $ 36,669 $ 12,159 $ 6,037 $ 324,434 Wholesale $ 26,977 $ 4,033 $ - $ - $ 31,010 OPERATING REVENUE $ 296,546 $ 40,702 $ 12,159 $ 6,037 $ 355,444 Operation & Maintenance Expense $ (228,749) $ (28,737) $ (7,120) $ (2,720) $ (267,326) Depreciation Expense $ (34,224) $ (7,340) $ (2,826) $ (1,489) $ (45,879) OPERATING EXPENSE $ (262,973) $ (36,077) $ (9,946) $ (4,209) $ (313,205) OPERATING INCOME $ 33,573 $ 4,625 $ 2,213 $ 1,828 $ 42,239 Return on Equity $ (17,498) $ (2,376) $ (729) $ (364) $ (20,967) Other Non-Operating Income $ 1,746 $ 1,219 $ 76 $ 51 $ 3,092 Other Non-Operating Expense $ (10,839) $ (2,157) $ (1,886) $ (586) $ (15,468) NET INCOME (LOSS) $ 6,982 $ 1,311 $ (326) $ 929 $ 8,896 RATE OF RETURN 3.03% 1.38% 2.25% 5.73% 2.60% BUDGETED RATE INCREASE EFFECTIVE 2/1/18 3.00% 5.50% 5.50% 0.00% wft 1 Bob- Ilk- FY 2018 Cash Flow by Utility CHILLED $(000) ELECTRIC WATER STEAM WATER TOTAL BEGINNING OPERATING CASH 58,671 13,061 5,438 3,756 80,926 Sources of Cash Net Income $ 6,983 $ 1,311 $ (326) $ 928 $ 8,896 Depreciation $ 34,224 $ 7,340 $ 2,826 $ 1,489 $ 45,879 Loss on Sale of Assets $ 1,547 $ 266 $ 101 $ - $ 1,914 Borrowing $ 50,000 $ - $ - $ - $ 50,000 Withdrawal from Construction Reserve $ 24,652 $ 5,490 $ 2,283 $ 1,575 $ 34,000 Fuel Cost Undercollection $ 2,663 $ (141) $ (464) $ - $ 2,058 Net Environmental $ 4,444 $ - $ 166 $ $ 4,610 Pipeline Refund $ 2,390 $ - $ 455 $ - $ 2,845 SOURCES OF CASH $ 126,903 $ 14,266 $ 5,041 $ 3,992 $ 150,202 Uses of Cash Debt Principal $ (5,069) $ (2,510) $ (1) $ (1,525) $ (9,105) Net Capital Expenditures $(115,633) $(12,987) $ (9,484) $ (1,415) $ (139,519) Renewable Energy& EO Plans $ (834) $ - $ - $ - $ (834) Other Uses of Cash $ (184) $ (41) $ (17) $ (11) $ (253) USES OF CASH $(121,720) $(15,538) $ (9,502) $ (2,951) $(149,711) Net Cash Increase/(Decrease) $ 5,183 $ (1,272) $ (4,461) $ 1,041 $ 491 ENDING OPERATING CASH 63,854 11,789 977 4,797 81,417 Beginning Operating Cash includes O&M Fund and Receiving Fund only, Designated funds and Restricted Bond Funds not included($'107.6 and$$34.2 million respectively as of March 31, 2017) Hometown People,hometown Power. r� /a rmY 2018 Capitol Budget Dollars in (000's) UTILITY LOCATION ELECTRIC $ 54,331 ECKERT $ 185 WATER $ 7,547 ERICKSON $ 199 STEAM $ 8,730 REO PLANT $ 3,000 CHILLED WATER $ 450 T&D $ 64,583 COMMON $ 18,457 DYE/CEDAR $ 2,327 *INTERNALLY FUNDED CAPITAL BUDGET $ 89,516 CHILLER PLANT $ 440 NEW NGCC PLANT $ 50,000 MOORE'S PARK $ 463 TOTAL CAPITAL BUDGET $ 139,516 NEW NGCC PLANT $ 50,000 OTHER $ 18,319 TOTAL CAPITAL BUDGET $ 139,516 * This total DOES NOT include the New NGCC (Natural Gas Combined Cycle) Plant Hometown People,hometown Power.