FY 21-25 CIP

City of Spencer, Iowa Solid Waste Enterprise Fund

EXHIBIT 1

Growth Assumptions

Solid Waste Rate Adjustments 2.00% 1-Jul-20

Tonnage Growth Other O&M Expenses

0.00%

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

4.00% 4.00% 4.00% 4.00%

Var.

2.00% 1-Jul-21 3.00% 1-Jul-22 4.00% 1-Jul-23

Interest Rate - Cash Balances

0.50%

Audited Financial Statements Projected FY 2016-17 FY 2017-18 FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 FY 2025-26 FY 2026-27 Budget Budget Projected Projected Projected Projected Projected

Solid Waste Closure Reserve Beginning Balance

$17,276

$17,436

$17,611

$17,849

$17,949

$18,049

$18,049

$18,049

$18,049

$18,049

$18,049

51 52 53 54

160

174

238

100

100

0 0

0 0

0 0

0 0

0 0

0 0

Operating Transfers Capital Expenditures

0

0

0

0

0

Ending Balance

$17,436

$17,611

$17,849

$17,949

$18,049

$18,049

$18,049

$18,049

$18,049

$18,049

$18,049

Total Cash Balance

55 $1,596,319 $2,143,208 $2,417,106 $2,117,549 $2,104,980 $2,059,590 $2,176,837 $2,443,219 $2,549,020 $2,672,811 $2,813,868

Deposit to SW Reserve

$0

$0

$505,000

$250,000

$265,000

$285,000

$300,000

$320,000

Solid Waste Operating Capital Outlays FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25 FY 2025-26 FY 2026-27 Commercial Packer $0 $180,000 $0 $0 $0 $0 $0 $0 Automated Residential Truck 260,000 0 275,000 0 0 0 0 0 Container Replacement 18,000 19,000 19,000 20,000 20,000 20,000 20,000 20,000 Automated Arm Replacement 15,500 0 0 0 0 0 0 0 Lighting Upgrade 50,000 0 0 0 0 0 0 0 Loader Tires 0 25,000 0 0 0 0 0 0 Semi Truck 0 0 0 130,000 0 0 0 0 Miscellaneous 0 0 0 0 0 180,000 180,000 180,000 Total $343,500 $224,000 $294,000 $150,000 $20,000 $200,000 $200,000 $200,000

Prepared by PFM Financial Advisors LLC

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Date: 4/15/2020