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Attachment B <br />Water Fund - Projections <br />Water Fund Capital Cash Reserves <br />8,000,000 <br />Target working capital segregated between operating and capital <br />• Operating: 3 months of operating expenses, including depreciation <br />• Capital: 3 months of operating expenses, including depreciation + next year's debt service <br />�%EHLERS <br />PUBLIC FINANCE ADVISORS <br />Take Away <br />1. Cash balance should be close <br />to or exceed target by 2026 <br />✓ Consistent with previous <br />study <br />2. Bonding recommended in <br />2026 only <br />✓ $2,000,000 for: <br />1. Water tower painting <br />2. Booster station rehab <br />3. Water main replacement <br />3. Watch 2022 cash balances <br />✓ Recoup portion of under <br />billings in 2022 and 2023 <br />✓ Capital projects phased in <br />over three years <br />