FY 2019-2023 Capital Improvement Plan

City of Spencer, Iowa Landfill Enterprise Fund

EXHIBIT 1

Budget Projected FY 2014-15 FY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 Audited Financial Statements Budget Projected Projected Projected Projected

Northern Plains Tonnage Fees Effective Date Tipping Fee Rate % Growth Current Tipping Fee Rate Shamrock Recycling $$ per Base Level of Tons $$ over Base Level of Tons Shine's Wire Insulation Fluff Effective Date Tipping Fee Rate % Growth Shine's Industrial Shredder Fluff Effective Date Tipping Fee Rate % Growth Tipping Fee Rate

7-1-2014

7-1-2015

7-1-2016

7-1-2017

7-1-2018

7-1-2019

7-1-2020

7-1-2021

7-1-2022

7-1-2023

1 2 3

2.01% 1.99% 1.99%

3.00% 3.00% 3.00% 3.00% 3.00%

3.00% 3.00%

$47.22

$48.16

$49.12

$50.59

$52.11

$53.67

$55.28

$56.94

$58.65

$60.41

$47.22 $47.22

$48.16 $48.16

$49.12 $49.12

$50.59 $50.59

$52.11 $52.11

$53.67 $53.67

$55.28 $55.28

$56.94 $56.94

$58.65 $58.65

$60.41 $60.41

4 5

6 8-26-2014 8-26-2015 8-26-2016 8-26-2017 8-26-2018 8-26-2019 8-26-2020 8/26/2021 7 0.55% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.02%

8/26/2022 8-26-2023 2.00% 2.00%

$14.50

$14.79

$15.09

$15.39

$15.70

$16.01

$16.33

$16.66

$16.99

$17.33

8

9 8-26-2014 8-26-2015 8-26-2016 8-26-2017 8-26-2018 8-26-2019 8-26-2020 8-26-2021

8-26-2022 8-26-2023 2.00% 2.00%

2.00% $14.79

11.54% $14.50

2.00% 2.00% 2.00% 2.00% 2.00% 2.02%

10 11

Tipping Fee Rate

$15.09

$15.39

$15.70

$16.01

$16.33

$16.66

$16.99

$17.33

Tons of Solid Waste City of Bode Tonnage

89.57 228.93 8,248.27 8,566.77 6,841.22 4,467.60 2,784.98 6,105.75 26,136.89 32,242.64 12,207.10 67,110.31

92.31 221.37 7,876.31 8,189.99 6,761.59 4,640.69 2,929.20 4,862.10 28,917.55 33,779.65 11,605.91 67,907.03

82.44 235.37

82.44 235.37

82.44 235.37

82.44 235.37

82.44 235.37

82.44 235.37

82.44 235.37

82.44 235.37

12 13 14 15 16 17 18 19 20 21

City of Whittemore Tonnage

Other Tonnage

10,298.39 10,616.20 6,241.46 4,639.38 3,084.08 4,403.04 30,409.71 34,812.75 12,230.27 71,624.14

10,298.39 10,616.20 6,241.46 4,639.38 3,084.08 4,403.04 30,409.71 34,812.75 12,230.27 71,624.14

10,298.39 10,616.20 6,241.46 4,639.38 3,084.08 4,403.04 30,409.71 34,812.75 12,230.27 71,624.14

10,298.39 10,616.20 6,241.46 4,639.38 3,084.08 4,403.04 30,409.71 34,812.75 12,230.27 71,624.14

10,298.39 10,616.20 6,241.46 4,639.38 3,084.08 4,403.04 30,409.71 34,812.75 12,230.27 71,624.14

10,298.39 10,616.20 6,241.46 4,639.38 3,084.08 4,403.04 30,409.71 34,812.75 12,230.27 71,624.14

10,298.39 10,616.20 6,241.46 4,639.38 3,084.08 4,403.04 30,409.71 34,812.75 12,230.27 71,624.14

10,298.39 10,616.20 6,241.46 4,639.38 3,084.08 4,403.04 30,409.71 34,812.75 12,230.27 71,624.14

Landfill Fees Tonnage Subtotal

Emmet County Tonnage Palo Alto County Tonnage Pocahontas County Tonnage

Shine Wire Insulation Fluff Tonnage Shine Industrial Shredder Tonnage Shine Bros Tonnage Subtotal

City of Spencer Tonnage

22

Total Tonnage per Fiscal Year

23 24

Tonnage Growth % Operating Revenues Landfill Fees Contract Fees Emmet County Palo Alto County Pocahontas County Shamrock Recycling

30.41% 1.19% 5.47%

0.00%

0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

$442,384 15,835 298,772 219,214 148,475

$405,448 18,292 345,130 253,227 171,513

$553,677 18,381 346,811 254,461 172,348

$400,000 12,424 234,412 171,992 116,491

$425,000 18,650 351,892 258,189 174,873

$466,666 18,650 379,044 278,131 188,345

$480,671 18,650 390,403 286,482 193,989

$495,085 18,650 402,137 295,065 199,818

$509,909 18,650 414,183 303,926 205,801

$525,224 18,650 426,604 313,065 211,969

25 26 27 28 29 30 31

0

0

0

0

0

0

0

0

0

0

467,518

499,601

525,178

535,682

546,395

557,323

568,492

579,980

591,580

603,412

Shine Bros Subtotal

32 $1,592,197 $1,693,210 $1,870,855 $1,471,000 $1,775,000 $1,888,158 $1,938,686 $1,990,735 $2,044,049 $2,098,924

634,684

614,337

659,403

540,000

540,000

540,000

540,000

540,000

540,000

540,000

City of Spencer Tipping Fees Total Operational Revenues

33

34 $2,226,881 $2,307,547 $2,530,258 $2,011,000 $2,315,000 $2,428,158 $2,478,686 $2,530,735 $2,584,049 $2,638,924

Prepared By PFM Financial Advisors LLC