FY 21-25 CIP
City of Spencer, Iowa Landfill Enterprise Fund
EXHIBIT 2
Growth Assumptions
Other O&M Expenses
6.00% 3.00% 0.50%
Salary Expense
Interest Rate - Cash Balances
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
Net Fund Transfers From Operating Cash +/(-) Debt Service Reserve Fund 51
$0
$318,425
$0
$0
$0
$0
$0
$0
$0
$0
$0
0
0
0
0
0
0
0
0
0
0
0
+/(-) Debt Service Sinking Fund
52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71
(182,316) (138,324) (352,108) (95,211) (41,555) (117,550) (20,329) ($948,603) (1,209)
(65,612) (65,364) (661,981) 471,145 (20,521) (84,373) 22,329 (18,949)
(85,631) (75,224) (335,188) (807,564) (22,083) 33,435 2,092 (44,402)
(86,000) (82,000) 45,000 528,000 (6,250) (1,250) (11,250) $386,314 64
(90,000) (84,000)
(86,292) (80,929) (204,061) (44,256) (44,958) (21,661) (334)
(86,724) (81,334) (192,629) 554,919 (44,477) (44,958) (21,770) $82,692 (336)
(87,158) (81,740) (356,036) (202,307) (44,700) (44,958) (21,878) ($839,114) (337)
(87,593) (82,149) (427,820) (203,318)
(88,031) (82,560) (186,991) 395,665
(88,471) (82,973) (339,923) (202,357)
+/(-) Post Closure Fund +/(-) Closure Fund
257,500 (1,780,483)
+/(-) Improvement/Equipment Fund +/(-) Cell Construction Fund +/(-) Regional Collection Center +/(-) Environmental Mgmt Fund +/(-) Recycling Reserve
(203,000)
(6,250)
(2,104)
(2,115)
(2,125)
0
(339) (100)
(341) (100)
(342) (100)
21,800 (11,250)
(1,598)
(1,606)
(1,614)
+/(-) Planning Reserve
Total Fund Transfers In / (Out)
($104,902) ($1,334,566)
($115,200) ($2,262,975)
($805,022)
$33,922
($717,906)
Designated & Restricted Cash Debt Service Reserve Fund Debt Service Sinking Fund
$318,425
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
0
0
0
0
0
0
0
0
0
0
0
1,931,244 879,240 1,585,787 800,782 232,339 15,922 318,210 168,400
1,996,856 944,604 2,247,768 329,637 252,861 100,295 295,881 187,349
2,082,487 1,019,828 2,582,957 1,137,202 274,944 66,859 293,789 231,751
2,168,487 1,101,828 2,537,957 609,202 281,194 66,795 295,039 243,001
2,258,487 1,185,828 2,280,457 812,202 287,444 66,795 273,239 254,251
2,344,780 1,266,757 4,060,940 1,016,263 331,700 67,129 318,196 275,912
2,431,504 1,348,091 4,253,569 461,344 376,177 67,465 363,154 297,682
2,518,661 1,429,831 4,609,605 663,651 420,877 67,802 408,112 319,560
2,606,255 1,511,980 5,037,424 866,969 422,982 68,141 408,212 321,158
2,694,286 1,594,540 5,224,415 471,304 425,096 68,482 408,312 322,764
2,782,757 1,677,513 5,564,338 673,660 427,222 68,824 408,412 324,378
Post Closure Fund
Closure Fund
Improvement/Equipment Fund Cell Construction Fund Regional Collection Center Environmental Management Fund Recycling Reserve
Local Planning Reserve Total Restricted Cash
72 $6,250,350 $6,355,251 $7,689,817 $7,303,503 $7,418,703 $9,681,677 $9,598,986 $10,438,100 $11,243,121 $11,209,200 $11,927,105
Total Cash Balance
73 $6,925,449 $7,060,540 $8,396,637 $8,529,800 $9,123,901 $10,346,005 $10,290,262 $11,156,397 $11,989,845 $11,985,831 $12,735,209
Deposit to Equipment Fund Deposit to Post Closure Fund Deposit to Closure Fund Deposit to Cell Constr. Fund
$0
$0 $1,769,081
$592,324 $75,000 $75,000 $200,000
$334,768 $75,000 $75,000 $200,000
$404,772 $75,000 $75,000 $200,000
$161,804 $75,000 $75,000 $400,000
$313,801 $75,000 $75,000 $200,000
$130,708 $133,245 $200,000
$75,000 $75,000 $200,000
$75,000 $75,000 $200,000
Prepared by PFM Financial Advisors LLC
Page 4 of 5
Date: 4/15/2020
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