FY 2019-2023 Capital Improvement Plan

City of Spencer, Iowa Landfill Enterprise Fund

EXHIBIT 2

Growth Assumptions

Other O&M Expenses

6.00% 3.00% 0.85%

Salary Expense

Interest Rate - Cash Balances

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

Landfill Operating Capital Outlays FY 2017-18 FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 New Cell Development - Expenditure $695,000 $0 $0 $730,000 $0 $0 $0 Equipment Storage Bldg 0 150,000 0 0 0 0 0 Leachate Pond Expansion 206,000 0 0 0 0 0 0 Leachate Tanker 0 0 0 88,000 0 0 0 Vehicle Replacement 0 0 30,000 0 0 0 0 Fencing at Landfill 60,000 0 0 60,000 0 0 0 Public Works Vehicles 60,000 0 0 0 0 0 0 Permitting Exp. Area 60,000 0 0 0 0 0 0 AL JON Refurbish 0 0 0 0 0 350,000 0 Track Loader Replacement 0 0 300,000 0 0 0 0 Scale concrete 0 100,000 0 0 0 0 0 Semi Tractor 0 125,000 0 0 0 0 0 Shop Addition 0 0 0 150,000 0 0 0 Total Capital Expenditures $1,081,000 $375,000 $330,000 $1,028,000 $0 $350,000 $0 ^ ^ ^ data from old FY18-22 CIP

Prepared by PFM Financial Advisors LLC