HomeMy WebLinkAbout2016 - LBWL Lansing Board of Water and Light- Budget FY 2017 S 1 �G
Chris Swope
Lansing City Clerk
rcHi �
June 8, 2016
City Council President and Councilmembers
10th Floor City Hall
Lansing, MI 48933
Dear President and Councilmembers:
Pursuant to Article 5, Chapter 2, Section 5-203.5 of the Lansing City Charter, on
September 30, 2014 my office received and placed on file:
Lansing Board of Water and Light's Budget for Fiscal Year Ending June 30, 2017
This document is available for review at the office of the City Clerk and on the City Clerk's
website (www.lansingmi.gov/clerk).
Sincerely,
(�`-
Chris Swope, CIVIC
Lansing City Clerk
Lansing City Clerk's Office
Ninth Floor, City Hall, 124 W. Michigan Ave., Lansing, MI 48933-1695
517-483-4131 • TDD 517-483-4479. 517-377-0068 FAX
www.lansingmi.gov/clerk • clerk@lansingmi.gov
Lansing Board of Water and Light
1201 S.Washington Avenue
IN Lansing, MI 48910
Hometown People. Hometown Power:
May 31, 2016 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, 2017
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, 2017, is
officially being filed with your office.
The Board of Commissioners adopted the budget at the regular board meeting held May 24,
2016.
Respectfully submitted,
M. Denise Griffin
Corporate Secretary
Attachment
cc: General Manager Peffley
Chief Financial Officer Heather Shawa-DeCook
Virgil Bernero, Mayor City of Lansing
Lansing City Council President, Judi Brown Clarke, and Lansing City Council Members
FY 2017
Income Statement by Utility
CHILLED
$(000) ELECTRIC WATER STEAM WATER TOTAL
SALES (MWh, ccf, MIb, ton-hr 2,904,915 8,534,134 774,469 10,288,000 22,501,518
Retail $ 279,805 $ 36,257 $ 12,419 $ 5,707 $ 334,188
Wholesale $ 28,916 $ 3,311 $ - $ - $ 32,227
OPERATING REVENUE $ 308,721 $ 39,568 $ 12,419 $ 5,707 $ 366,415
Operation & Maintenance E; $ (242,027) $ (25,960) $ (8,019) $ (2,325) $ (278,331)
Depreciation Expense $ (30,830) $ (8,013) $ (2,563) $ (1,748) $ (43,154)
OPERATING EXPENSE $ (272,857) $ (33,973) $ (10,582) $ (4,073) $ (321,485)
OPERATING INCOME $ 35,864 $ 5,595 $ 1,837 $ 1,634 $ 44,930
Return on Equity $ (18,528) $ (2,384) $ (747) $ (348) $ (22,007)
Other Non-Operating I ncorr $ 20 $ 782 $ (168) $ 39 $ 673
Other Non-Operating Expen $ (9,341) $ (1,706) $ (1,881) $ (555) $ (13,483)
NET INCOME (LOSS) $ 8,015 $ 2,287 $ (959) $ 770 $ 10,113
RATE OF RETURN 3.9% 1.8% 1.5% 4.9% 3.1%
Hometown People.Hometown Power.
FY 2017 Cash Flow by Utility
CHILLED
$(000) ELECTRIC WATER STEAM WATER TOTAL
BEGINNING OPERATING CASH 61,533 13,699 5,703 3,938 84,873
Sources of Cash
Net Income $ 8,015 $ 2,288 $ (960) $ 770 $ 10,113
Depreciation $ 30,830 $ 8,013 $ 2,563 $ 1,748 $ 43,153
Loss on Sale of Assets $ 614 $ 321 $ 225 $ - $ 1,160
Withdrawal from Construction Reserve $ 4,881 $ 1,087 312 $ 6,732
Fuel Cost Undercollection $ 2,329 $ (43) $ 43 $ - $ 2,329
Net Environmental $ 4,558 $ - $ 183 $ - $ 4,741
Pipeline Refund $ 2,390 $ - $ 455 $ - $ 2,845
SOURCES OF CASH $ 53,617 $ 11,666 $ 2,960 $ 2,830 $ 71,073
Uses of Cash
Debt Principal $ (5,069) $ (2,313) $ (1) $ (1,465) $ (8,848)
Net Capital Expenditures $ (42,349) $ (14,010) $ (3,606) $ (853) $ (60,818)
Renewable Energy & EO Plans $ (1,151) $ - $ - $ - $ (1,151)
Other Uses of Cash $ (183) $ (41) $ (17) $ (12) $ (253)
USES OF CASH $ (48,753) $ (16,364) $ (3,624) $ (2,330) $ (71,070)
Net Cash Increase/(Decrease) $ 4,865 $ (4,698) $ (663) $ 500 $ 3
ENDING OPERATING CASH 66,398 9,001 5,040 4,438 84,876
Beginning Operating Cash includes O& M Fund and Receiving Fund only, Designated funds and Restricted Bond Funds
not included, ($92.4 and.$37.5 million respectively as of March 31, 2016) The March 31, 2016 Designated funds
includes$64.9 million of Construction Reserve funds.
Hometown People.Hometown Power.
FY 2017 Capital Budget Summary
Dollars in (000's)
UTI LITY LOCATION
ELECTRIC $ 36,986 ECKERT $ 3,280
WATER $ 9,867 ERICKSON $ 1,941
STEAM $ 2,901 REO PLANT $ 144
CHILLED WATER $ 180 T&D $ 36,462
COMMON $ 10,884 DYE/CEDAR $ 3,039
TOTAL BUDGET $ 601818 CHILLER PLANT $ 42
OTHER $ 151910
$ 60,818
Hometown People.Hometown Power.