FY 2020-2024 Capital Improvement Plan

City of Spencer, Iowa Solid Waste Enterprise Fund

EXHIBIT 1

Growth Assumptions

Solid Waste Rate Adjustments

Tonnage Growth

0.00%

1-Jul-16 1-Jul-17 1-Jul-18 1-Jul-19

2.00% 2.00% 3.00% 4.00%

1-Jul-20 1-Jul-21 1-Jul-22 1-Jul-23

4.00% 4.00% 4.00% 4.00%

Other O&M Expenses

Var.

Interest Rate - Cash Balances

0.85%

Unaudited 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

Solid Waste Closure Reserve Beginning Balance

$16,978

$17,122

$17,276

$17,436

$17,611

$17,611

$17,611

$17,611

$17,611

$17,611

51 52 53 54

144

154

160

174

0 0

0 0

0 0

0 0

0 0

0 0

Operating Transfers Capital Expenditures

0

0

0

0

Ending Balance

$17,122

$17,276

$17,436

$17,611

$17,611

$17,611

$17,611

$17,611

$17,611

$17,611

55 $1,382,022 $1,436,261 $1,596,319 $2,135,375 $1,977,379 $1,736,807 $1,647,799 $1,482,958 $1,480,011 $1,445,927

Total Cash Balance

Deposit to Solid Waste Reserve

$0

$340,000

$90,000

$105,000

$135,000

$140,000

Solid Waste Operating Capital Outlays FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 FY 2021-23 FY 2023-24 Commercial Packer $0 $0 $180,000 $0 $0 $0 Automated Residential Truck 0 260,000 0 275,000 0 0 Container Replacement 15,000 18,000 19,000 19,000 20,000 20,000 Transfer Trailers 75,000 0 0 0 0 0 Automated Arm Replacement 0 15,500 0 0 0 0 Tipping Edge Rehab 10,000 0 0 0 0 0 Lighting Upgrade 0 50,000 0 0 0 0 Scale Installation 200,000 0 0 0 0 0 Transfer Station Interior Lining 55,000 0 0 0 0 0 Sewer Hookup 0 0 0 0 0 0 Semi Truck 0 0 0 0 130,000 0 Tractor 0 0 0 0 0 0 Miscellaneous 0 0 0 0 0 180,000 Total $355,000 $343,500 $199,000 $294,000 $150,000 $200,000

Prepared by PFM Financial Advisors LLC

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Date: 12/21/2018