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Home My WebLink About2015 - LBWL Lansing Board of Water and Light - Budget FY 2016 Lansing Board of Water and Light 1201 S. Washington Avenue Lansing, MI 48910 Hometown People. Hometown Power: June 3, 2015 Electronic Delivery Mr. Chris Swope, City Clerk City of Lansing 124 W. Michigan Avenue, 9th Floor Lansing, MI 48933 Re: Budget for Fiscal Year Ending June 30, 2016 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, 2016, is officially being filed with your office. The Board of Commissioners adopted the budget at the regular board meeting held May 26, 2015. Respectfully submitted, Jun 3 2015 X F*cosignO M. Denise Griffin Corporate Secretary Attachment: cc: Interim General Manager Peffley Chief Financial Officer Heather Shawa-DeCook Virgil Bernero, Mayor City of Lansing FY 2016 Income Statement by Utility CHILLED $(000) ELECTRIC WATER STEAM WATER TOTAL SALES (mwh, ccf, mlb, ton-hrs) 3,127,275 9,098,538 764,969 10,098,000 Retail $ 277,182 $ 36,516 $ 13,187 $ 5,782 $ 332,667 Wholesale $ 40,471 $ 3,537 $ - $ - $ 44,008 OPERATING REVENUE $ 317,653 $ 40,053 $ 13,187 $ 5,782 $ 376,675 Operation & Maintenance Expense $ (256,399) $ (26,760) $ (9,133) $ (2,331) $ (294,623) Depreciation Expense $ (32,000) $ (7,042) $ (2,669) $ (1 ,514) $ (43,225) TOTAL OPERATING EXPENSE $ (288,399) $ (33,802) $ (11,802) $ (3,845) $ (337,848) OPERATING INCOME (LOSS) $ 29,255 $ 6,250 $ 1,385 $ 1,937 $ 38,827 Return on Equity $ (19,144) $ (2,408) $ (794) $ (353) $ (22,699) Other Non-Operating Income $ 262 $ 779 $ (173) $ 45 $ 913 Other Non-Operating Expense $ (10,318) $ (1 ,928) $ (1 ,920) $ (614) $ (14,781) NET INCOME/ (LOSS) $ 55 $ 2,693 $ (1,502) $ 1,015 $ 2,261 RATE OF RETURN 2.3% 2.0% 0.6% 5.9% 2.2% Hometown People.Hometown Power. FY 2016 Cash Flow by Utility CHILLED $(000) ELECTRIC WATER STEAM WATER TOTAL BEGINNING OPERATING CASH $ 58,092 $ 12,932 $ 5,384 $ 3,718 $ 80,126 Sources of Cash Net Income $ 55 $ 2,693 $ (1,502) $ 1,015 $ 2,261 Depreciation $ 32,000 $ 7,042 $ 2,669 $ 1,514 $ 43,225 Loss on Sale of Assets $ 711 $ 371 $ 260 $ - $ 1,342 Reserve for Future Construction $ 18,573 $ 4,135 $ 1,721 $ 1,189 $ 25,617 Net Environmental $ 3,513 $ - $ 114 $ - $ 3,627 Pipeline Refund $ 2,390 $ - $ 455 $ - $ 2,845 SOURCES OF CASH $ 57,241 $ 14,241 $ 3,717 $ 3,718 $ 78,917 Uses of Cash Debt Principal $ (5,364) $ (1,694) $ (1) $ (1,425) $ (8,484) Net Capital Expenditures $ (47,841) $ (11,304) $ (5,249) $ (677) $ (65,072) Renewable Energy Plan $ (1,000) $ - $ - $ - $ (1,000) Other Uses of Cash $ (3,431) $ (40) $ (17) $ (12) $ (3,500) USES OF CASH $ (57,637) $ (13,038) $ (5,267) $ (2,114) $ (78,055) Net Cash Increase/(Decrease) $ (396) $ 1,204 $ (1,549) $ 1,604 $ 862 ENDING OPERATING CASH $ 57,696 $ 14,136 $ 3,835 $ 5,322 $ 80,988 Beginning Operating Cash includes O& M Fund and Receiving Fund only, Designated funds and Restricted Bond Funds MWI not included, ($91.3 and.$40.2 million respectively as of March 31, 2015) Hometown People.Hometown Power: FY 2016 Capital Budget Summary Dollars in (000's) UTILITY LOCATION ELECTRIC $ 38,962 ECKERT $ 85026 WATER $ 85106 ERICKSON $ 15600 STEAM $ 4,506 T&D $ 405009 CHILLED WATER $ 300 DYE/CEDAR $ 15355 COMMON $ 135197 OTHER $ 145081 TOTAL BUDGET $ 65,072 $ 655072 Hometown People.Hometown Power.