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Attachment B <br />Sewer Fund - Projections <br />Sewer Fund Capital Cash Reserves <br />4,500,000 <br />4,000,000 — <br />3,500,000 - <br />3,000,000 <br />2,500,000 <br />2,000,000 <br />1,500,000 <br />1,000,000 <br />500,000 <br />0 <br />2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2033 <br />025% Target minimum working capital for operations ■25% Target minimum working capital for capital ■ Actual working capital <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 />Take Away <br />1. Cash balance should be <br />close to or exceed target by <br />2024 <br />1. No bonding <br />recommended <br />2. Cash balances ramp up <br />quickly <br />1. Capital projects <br />phased in over three <br />years <br />�%EHLERS 12 <br />PUBLIC FINANCE ADVISORS <br />