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

Landfill 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 New Cell Development $730,000 $0 $0 $760,000 $0 $0 800,000 $0 Portable Hoop Storage Bldg 25,000 0 0 0 0 0 0 0 Vehicle Replacement 30,000 0 0 0 0 0 0 0 Fencing at Landfill 0 80,000 0 75,000 0 0 0 0 Compactor GPS 0 65,000 0 0 0 0 0 0 Water Truck 0 30,000 0 0 0 0 0 0 Leachate Tanker 0 95,000 0 0 0 0 0 0 AL JON Refurbish 0 0 0 420,000 0 0 0 0 Shop Addition 0 200,000 0 0 0 0 0 0 Miscellaneous 0 0 0 0 300,000 300,000 300,000 300,000 Total Capital Expenditures $785,000 $470,000 $0 $1,255,000 $300,000 $300,000 $1,100,000 $300,000

Prepared by PFM Financial Advisors LLC

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Date: 4/15/2020