ASSOCIATION OF ENVIRONMENTAL AUTHORITIES

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Presentation transcript:

ASSOCIATION OF ENVIRONMENTAL AUTHORITIES Fiscal Planning and the Funding of Capital Projects November 15, 2017 Douglas Bacher, Principal dbacher@nwfinancial.com

Purpose of Long-Term Budget & Capital Planning NJEIT DEPT Certification for Reimbursement Fiscal Responsibility for Planning User Fee & Rate Projections Analyzing Historical Data & Future Trends 1

NJEIT/DEP Fiscal Sustainability Certification Options which must meet the “Asset Management Guidance and Best Practices” of the federal Water Pollution Control Act The Borrower has developed and has formally adopted a fiscal sustainability plan (“FSP”) with respect to the Project The Borrower currently projects that it will complete the development of and formally adopt a fiscal sustainability plan (“FSP”) with respect to the Project Requires that during the term of the note or long-term loan all costs of developing and implementing a FSP is included in the plan 2

Cash Flow Modeling 3 Actual Budget Projected 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 REVENUES Water Fees & Service Water Delinquent Penalties Connection Fees Water Meter Fees Cell Tower Rent Interest Income Miscellaneous Fees & Income TOTAL REVENUES EXPENSES Administration Wages Other Expenses Fringe Benefits Cost of Providing Services Existing Debt Service Additional Debt Service Coverage Appropriation to Township Capital Intrafund Loan TOTAL EXPENSES NET OPERATING INCOME Minimum Service Charge Needed 3

Capital Planning Immediate Needs Wish List Projects Federal & State Changing Regulations Annual Engineers Report on Existing Infrastructure Age of Infrastructure Capital Equipment Political Environment 4

Capital Planning 5 Sample Authority Capital Projects Summary Year Total Annual Capital Plan Borrowings Projected Authority Surplus Authority Surplus after Capital Projects 2017 3,000,000 2018 3,500,000 2019 936,250 5,000,000 4,063,750 2020 250,000 350,000 1,250,750 500,000 2,350,750 6,000,000 3,649,250 2021 1,249,750 2,349,750 3,650,250 2022 1,248,500 2,348,500 3,651,500 2023 1,252,000 2,352,000 3,648,000 2024 1,250,000 2,350,000 3,650,000 2025 1,247,750 2,347,750 3,652,250 2026 1,245,250 2,345,250 3,654,750 2027 1,242,250 2,342,250 3,657,750 2028 1,244,000 2,344,000 3,656,000 5

Benefits of Modeling Useable model that can be manipulated and updated Allows you to examining financing options for capital projects Debt Service vs. Cash or Both Impact to budget and rates for capital projects Impact of budget on future expenses Development of reserves and rate stabilization policies Credit rating review 6

Regional Presence Headquarters Office South Jersey Office 2 Hudson Place, 3rd Floor Hoboken, NJ 07030 Phone: (201) 656-0115 Fax: (201) 656-4905 Headquarters Office 709 Stokes Road, Suite 201 Medford, NJ 08055 Phone: (609) 953-7555 Fax: (201)656-4905 South Jersey Office 886 Vaughn Road Pottstown, PA 19465 Phone: (610) 326-4900 Fax: (610) 326-4902 Pennsylvania Office 16