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HomeMy WebLinkAboutOperating and Capital Budget FY 2016-2017    Otay Water District Adopted Operating and Capital Budget Fiscal Year 2016-2017 BOARD OF DIRECTORS Mitchell Thompson, Division 2 President Jose Lopez, Division 4 Vice President Tim Smith, Division 1 Treasurer Gary Croucher, Division 3   Mark Robak, Division 5 MANAGEMENT TEAM Mark Watton General Manager German Alvarez Assistant General Manager Joseph R. Beachem Chief Financial Officer Adolfo Segura Chief, Administrative Services Pedro Porras Chief, Water Operations Jose Martinez Assistant Chief, Water Operations Rod Posada Chief, Engineering Table of Contents Page Letter of Transmittal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . iv Budget Foreword Otay Water District At-A-Glance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 General Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Awards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Organization Chart . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Budget Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Resolution No. 4302. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 History and Community Profile Past and Present . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Current Economic Conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 The Future . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Demographics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22 Water Rate Comparison . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23 Sewer Rate Comparison . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24 Service Area Assessed Valuation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Ten Principal Taxpayers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 Ten Largest Customers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27 San Diego Rainfall . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28 Strategic Plan Strategic Plan - Fiscal Years 2015-2018 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29 Statement of Values . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30 Balanced Scorecard Perspective . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 Administrative Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32 Finance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36 Water Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41 Engineering. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 49 Financial Summaries Budget Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 53 Operating Budget Summary – General Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59 Operating Budget Summary by System . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 General Fund Revenues, Expenditures and Transfers . . . . . . . . . . . . . . . . . . . . . . . 62 Fund Balance Summary by Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 63 Revenues and Expenditures by Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64 Revenues and Expenditures by Type . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 66 Five-Year Forecast Five-Year Forecast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67 General Fund Forecast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68 Fund Balances Forecast . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 69 Debt Management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70 Schedule of Outstanding Debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 72 Projected Principal Payments by Debt Issuance . . . . . . . . . . . . . . . . . . . . . . . . . . 73 Projected Interest Payments by Debt Issuance . . . . . . . . . . . . . . . . . . . . . . . . . . . 74 i Table of Contents Revenues and Expenditures Potable Revenues and Expenditures Potable Narrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 75 Operating Budget Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 78 Classification of Water Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79 Water Sales Summary by Service Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80 Unit Sales History and Meter Count by Customer Class . . . . . . . . . . . . . . . . . . . . 81 System Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 82 MWD and CWA Fixed Fees (pass-through) . . . . . . . . . . . . . . . . . . . . . . . . . . . 83 Meter Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 84 Revenue History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 85 Water Purchases and Related Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86 Power Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 87 Administrative Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 88 Materials and Maintenance Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89 Potable Water Service Area Maps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 91 Recycled Revenues and Expenditures Recycled Narrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 93 Operating Budget Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 96 Classification of Water Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 97 Water Sales Summary by Meter Size. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98 Unit Sales History and Meter Count by Customer Class. . . . . . . . . . . . . . . . . . . . 99 System Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 100 Meter Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101 Revenue History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 102 Water Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 103 Power Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104 Administrative Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 105 Materials and Maintenance Expenditures. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 106 Recycled Water Service Area Maps . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 107 Sewer Revenues and Expenditures Sewer Narrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 109 Operating Budget Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110 Charges Summary by Service Class . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 111 System Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 112 Revenue History . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113 Power Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 114 Administrative Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 115 Materials and Maintenance Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116 Formula for Sewer Rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 117 Sewer Service Area Map . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 119 ii Table of Contents General Revenues and Expenditures General Revenues and Expenses Narrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 121 General Revenues. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 123 General Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 124 Departmental Operating Budget Departmental Operating Budget Narrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 125 Labor and Benefits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128 Labor and Benefits by Fund . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 129 Position Count by Department . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130 Contract/Temporary Employees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 131 Administrative Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 132 Materials and Maintenance Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 133 Operating Expenditures by Department . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134 Operating Expenditures by Object . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 135 Departmental Budgets: Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 137 General Manager . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 141 Administrative Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 147 Finance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 157 Water Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 163 Engineering . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 171 General Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 179 Capital Budget Capital Improvement Program Narrative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 181 Major CIP Projects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 183 CIP Projects in Construction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 184 CIP Reserve Funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 188 Six-Year CIP Funding by Source . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 189 Six-Year CIP Funding by Category . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 189 Six-Year CIP Projects by Category ($1,000s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 190 CIP Justification and Impact on Operating Budget . . . . . . . . . . . . . . . . . . . . . . . . 193 Capital Purchases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 194 Policies Summary of Financial Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 195 Reserve Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 197 Reserve Policy Glossary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 225 Investment Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 227 Investment Policy Glossary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 234 Debt Policy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 240 Debt Policy Glossary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 253 Appendix Glossary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 259 List of Acronyms . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 265 Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 268 iii September 9, 2016 Honorable Board of Directors Otay Water District I am pleased to present the Otay Water District’s Adopted Operating and Capital Budget for Fiscal Year 2017. The budget supports the District’s updated FY 2015-2018 Strategic Plan as well as the financing of all of the District’s services, programs, and capital needs during the 2017 fiscal year. With a balanced budget and the Strategic Plan in place, the District is well- positioned for continued success in the subsequent years. The previous year has posed to be one of uncertainties and challenges regarding the drought and water supplies for those in California, specifically San Diego County’s retail water agencies and their ratepayers. In May 2015, the District and its customers struggled with mandatory cuts in potable water use ordered by Governor Jerry Brown and the State Water Resources Control Board. Despite District customers having reduced water use 27% since 2007, they still needed to reduce water use by 20% compared to 2013 levels. Through their conservation efforts, District customers exceeded the 20% target, averaging 23% from June through December 2015. In February 2016, the State Water Board adopted revised emergency regulations, which included providing credits to agencies with new local, drought-resilient supplies. In March 2016, with the certification of the Claude “Bud” Lewis Carlsbad Desalination Plant as a drought-resilient supply, San Diego County Water agencies were able to reduce their conservation target by the State Water Board’s maximum of eight percent, which lowered the District’s target from 20% to 12%. The Carlsbad plant, which started commercial production in December 2015, provides the San Diego region with 56,000 acre-feet of drought-proof water each year, reducing reliance on imported sources. In May 2016, the State Water Board replaced its state-mandated conservation target method with a supply-based approach, considering each agency’s specific circumstances and available water supplies. Now individual urban water agencies may self-certify their iv levels of available water supplies based on three additional dry years and the level of conservation necessary to ensure adequate supply assuming a third consecutive dry year. At the same time the State Board modified its emergency regulations from a state- mandated water use target approach to a supply-based approach, the Metropolitan Water District of Southern California (MWD) also ended its supply allocations. On May 26, 2016, the San Diego County Water Authority (CWA) rescinded its Drought Management Plan Stage 2 and established a public awareness campaign to help maintain a regional commitment to water-use efficiency. In San Diego, CWA has been allowed to certify supply sufficiency for all member agencies and in June 2016, CWA confirmed that its member agencies have sufficient water supplies to meet demands even during three additional dry years and will not be subject to state mandated water-use reductions through January 2017. For more than a year the District, other water agencies in the San Diego region, and local civic and business groups advocated for state policies that reflected local water supply investments and conditions. Due to those steadfast efforts and the District’s current level of water supply reliability, the District declared an end to Water Shortage Response Level 2 and is no longer under a Water Shortage Response Level. As conservation mandates went into effect during FY 2016, potable sales volumes decreased 17.8% from FY 2015 levels. As one would expect, reductions in sales will impact revenues. Homeowners and businesses have also implemented conservation measures that are expected to generate permanent reductions in water use. As a result, the District expects sales volumes to recover only one percent from reduced conservation during FY 2017. Remaining increases in sales volumes are expected to come from new customers. Staff will continue to closely monitor these trends as they relate to overall District finances. I am extremely proud of the District’s staff, especially during the drought and state water conservation mandates, because we continued to serve our customers using the high standard of service that we have always striven for. This serves as a great reminder as to why Otay Water District exists. In 2016, we celebrated the District’s 60th anniversary of service to East County and South Bay. Since its establishment, the District’s motto has been “Dedicated to Community Service.” From modest beginnings in 1956 through today, the District remains dedicated to providing outstanding service to the communities and the people we have the honor to serve. v Finding ways to streamline operations and cut costs also is a significant element of the District’s ongoing commitment to our customers. By reducing the District’s costs, we can pass those savings on to our ratepayers. In FY 2016, the District successfully refinanced its Certificates of Participation (COPs), saving customers more than $5.6 million. This is only one example of cost savings and the District’s ongoing dedication in pursuing cost efficiencies. Since 2007 through 2017, the District has reduced its headcount from 174.5 to 135 employees, a 23% decrease, resulting in a cumulative savings of $30,052,900. Other cost savings include reducing the number of vehicles and equipment the District maintains, reducing fuel consumption, and decreasing water loss through our successful leak detection and repair program. The District’s staff will continue to seek out other operational efficiencies, thus reducing costs and increasing savings for our customers. In light of California and the West’s persisting water challenges, the District continues its efforts to enhance the potable water supply for our service area. We have reached a key milestone in decreasing reliance on other water sources with the certification of the Final Environmental Impact Report/Final Environmental Impact Statement (EIR/EIS) for the District’s Otay Mesa Conveyance and Disinfection System Project. Now that the Final EIR/EIS is complete, the United States Department of State (DOS) will use the document’s findings and other factors to determine if the project would serve in the national interest. If the DOS determines the project is in the national interest, it will issue the Presidential Permit. If the project obtains other required approvals, the District could start receiving 18 million gallons of desalinated water per day from the Rosarito Desalination plant as early as 2024, serving potable water demands of up to two thirds of our customers. The District’s success as an organization is significantly enhanced by the policies and practices put in place by its Board to ensure the strength, stability, and reliability of the District. The management team is fully confident that with these policies and practices, supported by the FY 2015-2018 Strategic Plan, along with a dedicated and talented staff, that we will achieve continued success as an organization and thus, ensure the well-being of the people we serve. FY 2015-2018 Strategic Plan The FY 2015-2018 Strategic Plan consists of a four-phased approach. Phase one and phase two have been completed. The primary focus of phase one was to develop key enterprise- wide projects – SCADA, Work Order/Asset Management, and Emergency Preparedness/NIMS. Phase two focused on building upon the system foundation, business process improvement, and facilities. As part of phase three in FY 2017, we will continue to vi collect and populate these and other systems with new data so we can analyze and optimize these systems for efficiencies. Based on results from FY 2017, in phase four we will enhance key existing programs such as asset management, the internal auditing process, facilities maintenance and security, and work-resource planning. While rapid growth had been a significant focus in the early years of the District and in its earlier strategic plans, today we are primarily focused on operational efficiencies to cost-effectively manage long- term maintenance and replacement of infrastructure. The change is based on the recognition that as an organization matures, fewer resources are needed to support growth; but greater effort is required to maintain and upgrade infrastructure and assets. This is important because in this phase of its lifecycle, an organization derives income more from customer rates and less from developer fees. Therefore, the increased maintenance and replacement costs place increased pressure on customer rates. To balance the customer’s interest in minimizing rate increases while also maintaining an organization’s infrastructure, investments, and a strong financial position; the management team must place greater emphasis on internal efficiency and the development of technology assisted best practices. In effect, the organization must use investments in technology to do more with the same or fewer resources. From a water supply perspective, this means determining the optimum mix of water supply, treatment, and delivery solutions for customers. From a daily operating perspective, efficiency improvements have become the primary source of competitive advantage and cost optimization for utilities. A goal included in the District’s past strategic plans is to capitalize on technology investments and utilizing those technologies to continually improve efficiency and productivity. The success of this approach is evidenced by the gains in productivity and by the reduction in staffing the District has experienced. The following charts show that since 2007, the District has reduced staffing by 39.75 full-time equivalent positions, or 23%, while the number of customer accounts increased by 2,261. vii With increased efficiency and higher employee productivity, the District has been able to continue absorbing some of the pass-through costs from its water suppliers, the City of San Diego, San Diego County Water Authority, and Metropolitan Water District. This helps to address customer concerns about rising water rates. Based on an annual survey of water and sewer rates conducted by District staff, Otay continues to be one of the lower cost providers in San Diego County. The District has the 11th lowest water rate out of the 22 member agencies in San Diego County and the 5th lowest sewer rate out of the 28 sewer service providers in San Diego County. The results of the water and sewer surveys are shown on pages 23 and 24, respectively. The chart below shows that since 2007, the wholesale water supply costs have increased 106.7% while the District’s retail water rates have increased a lesser 93.2%. 17 4 . 7 5 17 2 . 7 5 16 8 . 7 5 16 6 15 9 15 6 14 8 14 3 14 0 13 8 13 5 52,615 54,876 51,000 51,500 52,000 52,500 53,000 53,500 54,000 54,500 55,000 55,500 0 20 40 60 80 100 120 140 160 180 200 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Em p l o y e e  Co u n t FISCAL YEAR Employee Count and Number of Accounts viii Wholesale Water Supply Costs vs. District Retail Rate Increases The District currently delivers water service to nearly 49,425 potable and 708 recycled water customer accounts. All of the potable water sold to customers is purchased from CWA. Forty-seven percent of this water is in turn purchased from the region’s primary water importer, MWD. This number has decreased significantly compared to previous years and beginning in FY 2016, 7% will come from seawater desalination. The District has been proactive in reducing its dependence on MWD water treatment facilities. For example, in 2009 the District entered into an agreement with CWA that allowed our neighboring Helix Water District to treat imported water on behalf of the District at their Levy Water Treatment Plant. This has brought regional water treatment closer to our customers, which reduces dependence on water treatment facilities located outside of San Diego County. The District also collects and recycles wastewater from approximately 4,669 homes and businesses. Wastewater is collected and delivered to the Ralph W. Chapman Water Recycling Facility (RWCWRF), which is capable of reclaiming wastewater at a rate of 1.3 million gallons per day. In addition to the Chapman facility, the District continues purchasing up to 6 million gallons per day of recycled water from the City of San Diego’s South Bay Water Reclamation Plant. The use of recycled water for landscape irrigation and industrial processes reduces dependence on imported potable supplies, provides a local supply that is drought proof, and diversifies District resources. 0% 20% 40% 60% 80% 100% 120% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 106.7% 93.2% ix Fiscal Year 2017 Operating Budget Summary Otay Water District’s operating expenditures consist of three major sectors: potable water, recycled water, and sewer, budgeted at $91,741,500 for Fiscal Year 2017. Revenues from potable and recycled water are projected to be $81,138,900, approximately $2,239,200 more than the Fiscal Year 2016 budget. Water sales volumes are expected to decrease by 8% compared to FY 2016 budgeted sales due to drought mandates. Sewer revenues are projected to be $2,918,900, approximately $287,400 less than fiscal year 2016. This decrease in sewer revenue is primarily due to the discontinuance of the system fee recapture, which was part of a 2013 Cost of Service study. The remaining budgeted revenues of $7.7 million come from various special fees, assessments, and miscellaneous income. Significant aspects of the Operating Budget are:  A balanced budget supporting the goals of the Strategic Plan.  The use of an economist to project growth for the region.  An updated six-year Rate Model to ensure sound financial planning and reserve levels.  Ongoing water supply rate increases of 4.0% from MWD and 5.9% from CWA due to the reduced volumes as a result of the Governor’s conservation mandate, high cost of supply programs, higher energy costs, and increasing operating costs.  Implemented rate increases in potable, recycled water, and sewer. This included pass-through rate increases from the City of San Diego, CWA, and the County of San Diego.  In efforts to minimize rate increases, the District has again reduced staffing levels from 140 full-time equivalent positions last year to 135 this year.  Of San Diego County’s 22 water agencies, the Otay Water District’s water rates are below the countywide average. Fiscal Year 2017 Capital Improvement Program The Fiscal Year 2016-17 Capital Improvement Program (CIP) Budget consists of 89 projects and a budget of $10.7 million. The budget emphasizes maintenance of existing infrastructure and long-term planning for ongoing programs to meet population growth while functioning within fiscal constraints. This year’s CIP budget decreased by $1,000,000 compared to last year’s projection primarily due to $340,000 decrease in capital purchases for vehicles and field equipment and $600,000 reduction in reservoir recoating and relining of smaller reservoirs. x Awards and Acknowledgments  The California Society of Municipal Finance Officers (CSMFO) presented Otay Water District the Certificate of Award for Operating Budget Excellence Award for Fiscal Year 2015-2016.  The California Society of Municipal Finance Officers presented Otay Water District the Certificate of Award for Capital Budgeting Excellence Award for Fiscal Year 2015- 2016.  The Government Finance Officers Association Officers (GFOA) presented Otay Water District the Certificate of Achievement for Excellence in Financial Reporting for its Comprehensive Annual Financial Report for the Fiscal Year ended June 30, 2015. Conclusion The Otay Water District’s Board of Directors met the challenges presented this year with responsibility, commitment, and persistence in an unwavering effort to continue preserving the stability and financial strength of the District as one of its highest priorities. This budget reflects the vision of the District’s Board, its management, and its employees. We will continue to strive to make enhancements in our budget processes, including an extensive review and analysis of projections for revenues, expenditures, capital projects, and reserves. I would like to thank the District’s staff involved in this process for the efforts put forth in the preparation of this budget to ensure a successful outcome. To the Board of Directors, we acknowledge and appreciate your continued support and direction in achieving excellence in the financial management and operations of the District. Mark Watton, General Manager xi At-A-Glance Mission Statement To provide high value water and wastewater services to the customers of the Otay Water District in a professional, effective, and efficient manner. History The Otay Water District was formed in 1956 to serve as a public water and sewer agency, authorized as a California special district under the provisions of the Municipal Water District Act of 1911. The District’s ordinances, policies, taxes, and rates for service are set by five Directors elected by voters in their respective geographic area. The District joined the San Diego County Water Authority (CWA) in September 1956 to acquire the right to purchase and distribute imported water throughout its service area. The District is also responsible for the collection, treatment, and disposal of wastewater from a portion of the northern region of the District. In 1980, the District started operation of the Ralph W. Chapman Water Recycling Facility (RWCWRF) and in May 2007 a new source of recycled water from the City of San Diego was obtained, allowing the Otay Water District to supply 12% of total water demand with recycled water. Service Area The District's boundaries encompass an area of approximately 125 square miles in San Diego County, lying immediately east of the City of San Diego metropolitan area and running from the City of El Cajon south to the international border, abutting the cities of El Cajon and La Mesa and encompassing most of the City of Chula Vista and a small portion of the City of San Diego. Organizational Structure The General Manager reports directly to the Board of Directors. The Assistant General Manager along with District management oversees day-to-day operations. The Assistant General Manager oversees the four departments of Administrative Services; Finance; Water Operations; and Engineering. These and other lines of reporting are shown on the organization chart on page 7. 11 General Information For Fiscal Year 2017, the District will have a staff of 135 full-time equivalent employees under the leadership of the General Manager. The District provides water service to approximately 52% of its expected ultimate deliveries with a population of more than 220,000 people. This percentage increases as the District's service area continues to grow to ultimate build-out. The District is projected to deliver approximately 27,000 acre-feet of potable water to 49,500 potable customer accounts. By 2035, deliveries are expected to reach 45,501 acre-feet of potable water to serve 285,000 people or 69,000 accounts. The growth rate, as projected by the San Diego Association of Governments (SANDAG), for the City of Chula Vista, is approximately 1.0% per year over the next decade. Using historical data and considering current economic conditions, staff has moderated this projection to a growth rate of 0.3% for Fiscal Year 2017. Since 1956, the District has provided high quality water to a semi-arid region of the southeastern San Diego County. In 1971 the District constructed a small collection and treatment plant for sewer in the northern section of the District, and in 1980 the District opened the Ralph W. Chapman Water Recycling Facility (RWCWRF). For over 50 years, the available supply of water has helped transform the District service area from a mostly scrub and cactus covered backcountry into a balance of diverse environments. Recycled water from the RWCWRF is used to irrigate golf courses, schools, public parks, roadway landscapes, and various other approved uses in eastern Chula Vista. The RWCWRF is capable of recycling wastewater at a rate of 1.3 million gallons per day (1,200 acre-feet per year). The District is also in partnership with the City of San Diego to beneficially reuse an additional 2,460 acre-feet per year of recycled water for fiscal year 2017, and ultimately up to 6,720 acre-feet per year. The District continues to be the largest retail provider of recycled water in the County of San Diego. The District also owns and operates a wastewater collection system providing public sewer service to approximately 4,677 customer accounts within the Jamacha drainage basin. The sewer service area covers approximately 8,797 acres, which is about 11% of the District’s total service area. Residential customers comprise 97% of the sewer customer base. 1. Carlsbad Municipal Water District 2. City of Del Mar 3. City of Escondido 4. Fallbrook Public Utility District 5. Helix Water District 6. City of National City 7. City of Oceanside 8. Olivenhain Municipal Water District 9. Otay Water District 10. Padre Dam Municipal Water District 11. Camp Pendleton Marine Corps Base 12. City of Poway 13. Rainbow Municipal Water District 14. Ramona Municipal Water District 15. Rincon del Diablo Municipal Water District 16. City of San Diego 17. San Dieguito Water District 18. Santa Fe Irrigation District 19. South Bay Irrigation District 20. Vallecitos Water District 21. Valley Center Municipal Water District 22. Vista Irrigation District 23. Yuima Municipal Water District 24 Lakeside Water District San Diego County Water Agencies 2 Distinguished Budget Presentation Award The Government Finance Officers Association (GFOA) presented a Distinguished Budget Presentation Award to the District for its annual budget for the fiscal year 2015- 2016. In order to receive this award, a governmental unit must publish a budget document that meets program criteria as a policy document, as an operations guide, as a financial plan, and as a communications device. This award is valid for a period of one year only. We believe our current budget continues to conform to program requirements, and we are submitting it to GFOA to determine its eligibility for another award. 33 Financial Awards The California Society of Municipal Finance Officers (CSMFO) presented Otay Water District the Operating Budget Excellence Award for Fiscal Year 2015-2016. The California Society of Municipal Finance Officers (CSMFO) presented Otay Water District the Capital Budgeting Excellence Award for Fiscal Year 2015-2016. 44 Financial Awards The Government Finance Officers Association Officers (GFOA) presented Otay Water District the Certificate of Achievement for Excellence in Financial Reporting for its Comprehensive Annual Financial Report for the Fiscal Year Ended June 30, 2015. 55 Award The Construction Management Association of America (CMAA) presented the Otay Water District with the 2016 Distinguished Owner Honoree Award. 66 Organization Chart District Position Count— (135 Positions) Citizens and Customers Board of Directors Safety and Security Administration Assistant General Manager General Manager (6) Purchasing and Facilities Controller and Budgetary Services Treasury and Accounting Services Customer Service Meter Maintenance Water System Operations Utility Maintenance/ Construction Water Resources, Planning, Design and Environmental Services Administrative Services (23) Human Resources Information Technology and Strategic Planning Finance (31) Geographic Information System Public Services and Field Services Engineering (24) Water Operations (51) 77 Budget Overview Budget Guide The District views the budget as an essential tool for proper financial management. This budget is developed with input from the various department levels of the organization and is set prior to the start of each fiscal year. It is designed and presented for the general needs of the District, its staff, and citizens. The budget is a comprehensive and balanced financial plan that features District services, resources and their allocation, financial policies, and other useful information to allow the users to gain a general understanding of the District’s financial status and future plans. To help readers navigate this document, the following is a general description of each of the tabulated sections of the budget. Budget Foreword This introductory section contains descriptions and general information about the District, strategic focus areas highlighting major initiatives and accomplishments, and the Budget Calendar and Process. History and Community Profile Included in this section is the history of the District, along with the current and projected economic conditions. It also includes statistics on the District’s customers, the region’s tax base, San Diego rainfall, future development and projects that will have an impact on the District in the coming years. Financial Summaries This section contains an overview of the District’s revenues and expenditures by fund for the current budgeted fiscal year, the prior year’s actual amounts, and the future estimated amounts. The prior year’s actual amounts are unaudited due to timing of the completion of the financial statement audit; actual amounts may vary pending the completion of the audit. It includes a description of each of the revenue and expense categories as well as charts depicting their relationships. Five-Year Forecast The District prepares a comprehensive Rate Model each year based on budget input, trends, new programs, and requirements. Estimates are made for cost increases, rate increases, targeted fund balances, capital needs, and debt requirements. Analysis for the current budget year plus five subsequent years is conducted and a six-year forecast is prepared based on the Rate Model results. 8 Budget Overview Revenues and Expenditures The District budgets revenues and expenditures by Potable, Recycled, and Sewer Systems. General revenues and expenditures that are not specific to one system or department are budgeted in the General Revenues and Expenses section. An allocation of overhead costs is made to equitably distribute the cost of running the District among the various business segments. Departmental Operating Budget This section provides a summary of each department’s operating expenditures and detailed budget information including its mission, responsibilities, three-year staffing schedules, performance indicators, accomplishments, and goals. Also provided are graphical presentations of departmental budget percentages to District totals, as well as summary expenditure information by division for three fiscal years. Capital Budget An overview of the District’s Capital Improvement Program (CIP), the Water Resources Master Plan (WRMP), the Sewer Master Plan, major assumptions and criteria, a six-year listing of CIP project expenditures justifications, and the impact on the Operating Budget and capital purchases budget for the fiscal year are located in this section. Policies This section includes a summary of the District’s financial policies and practices, including the Reserve Policy, Investment Policy, and Debt Policy. Appendix The last section consists of a Glossary, List of Acronyms, and an Index. 9 Budget Overview Budget Process The District has integrated the Capital Improvement Program (CIP) Budget and the Operating Budget. These budgets are developed based on the District’s Water Resources Master Plan, the Sewer Master Plan, and Strategic Business Plan. New initiatives and programs are categorized into the Balanced Scorecard perspectives. Appropriate budget amounts are determined by using the historical data of operations and new growth, developers’ input, SANDAG projections, and economic outlook. To assure reliable and high-quality service to the growing customer base, the District has committed to a number of long-range strategies that drive the budgeting process. The strategies and assumptions used to develop the District’s integrated budget are:  An average projected long-term growth rate of 1.4%.  Pass-through rate increases for costs imposed on the District by the wholesale water providers.  Accurate projections of capital budget needs (including replacement needs).  Reserve funding in accordance with the Reserve Policy to meet future growth demands and maintain financial stability.  Funding of the Strategic Plan initiatives as categorized into the Balanced Scorecard perspectives.  Avoid rate spikes by leveling rate increases over a six-year period. The Finance Department prepares the budget for the potable, recycled, and sewer systems. This is done using estimated cost increases from the District’s wholesale water providers as well as estimated sewer charge increases provided by the County and City of San Diego. Other significant factors in the budget development include estimated conservation levels, projected growth in customer accounts, and weather. Additionally, all general revenue and expense budgets are calculated using trend analysis and any external factors that may affect these items. Each year, the Finance Department provides departments with a Budget Workbook which gives instructions on how to budget for personnel, administrative expenses, and materials and maintenance expenses. Included in this workbook are historical trends, assumptions, and training on how to enter the expense data into the District’s budget system. 10 Budget Overview Budget Calendar February March April May-June July – January 2/10/16 Chiefs submit request for new personnel, personnel reclassification changes, advancements, and long-term staffing to HR 2/19/16 Project Managers submit CIP Budgets for new projects and changes to existing projects in CIP Budget application 2/24/16 HR to complete preliminary review of new personnel, personnel reclassification changes, requests, and advancements 2/24/16 Chiefs to submit Operating and Admin Budget; Capital Purchases and justifications; Labor Budget Worksheet 2/29/16 Engineering Department reviews all CIP Budget requests with AGM 3/01-02/2016 Finance to review Operating Budget and reconciliation with departments 3/02/16 Finance to review preliminary CIP Budget with Chief of Engineering including year over year explanations 3/08/16 HR to review new personnel, reclassifications and change requests with GM 3/09/16 Finance to have second review of CIP Budget with AGM and Engineering 3/17/16 Finance to review Department Operating Budgets and personnel cost with Chiefs, AGM and GM 3/17/16 CIP budget presented to the General Manager for review and comments 4/06/16 Chiefs submit Position Analysis Questionnaire to HR for GM approval Personnel requests and request for reclassifications 4/28/16 Preliminary budget review with General Manager 5/07/16 Review assumptions and rates with Chiefs, Assistant General Manager, and General Manager 5/11/16 Practice run of budget presentation with Finance, Chiefs, AGM, and GM 5/23/16 Board Meeting – approval of the FY 2016-2017 Operating and Capital Budgets 5/23/16 Board gave direction to staff to mail rate notices to customers 07/07/16-08/04/16 Rate increase message inserted with water and sewer billing 1/01/17 Water and sewer rate increase 11 Budget Overview Personnel Budget The budgeting of salaries and benefits is performed in the position budgeting module of the Enterprise Resource Planning (ERP) system. This tool allows the District to budget for each authorized position and the associated benefits in an automated fashion. Departments submit requests for new positions, reclassifications, or advancements to the Assistant General Manager. These requests are reviewed by the Assistant General Manager and then presented to the General Manager for approval. Upon their approval, the Finance Department enters these changes, as well as negotiated pay increases and benefit rate changes, into the position budget system. Position budgeting calculates the salaries and benefits to be included in the District’s budget. Administrative and Materials and Maintenance Budget Administrative and Materials and Maintenance expenses are entered into the budget model of the ERP system by individual requests. These requests are compared to last year’s budgeted and actual projected expenses to determine reasonableness by the Finance Department. All costs are justified and supported by explanations. Finance compiles the operating budget and submits it to the Assistant General Manager and the General Manager for review prior to presentation to the Board of Directors. Capital Improvement Plan (CIP) Budget The Engineering Department issues budget instructions for the CIP budget process. Each project manager uses the CIP Budget module system to review year-to-date project expenses and then estimates costs to the end of the fiscal year. They also project future costs to complete the project. Costs are adjusted for scope changes as well as construction cost increases. Engineering then compiles the CIP Budget and submits it to the Assistant General Manager and the General Manager for review prior to presentation to the Board of Directors. Rate Model Once budgets have been calculated, the Finance Department inputs all of the operating revenues and expenses, CIP expenses, reserve funding, and reserve levels into the District’s Rate Model. Inflators for cost and volume are input into the Rate Model to project the next six years of revenue and expenses. The debt coverage ratio is also evaluated to ensure adequate levels. Projected rates are then set for the current fiscal year, plus five subsequent years, such that all financial targets are met. Using this comprehensive modeling tool, the District is able to smooth future rate increases, determine when debt should be issued, and maintain all of the reserve levels in accordance with the Reserve Policy. 12 Budget Overview The District has a three-year Strategic Plan, and each year in the spring, the portion of the plan that pertains to the upcoming fiscal year is presented to the Board of Directors for review and direction. This is followed by a coordinated presentation of the budget by all departments, to the Board of Directors for their approval at a special budget workshop in May. The review of the Strategic Plan and the adoption of the budget on an annual basis give the District its direction for the following fiscal year. During the year, each department receives monthly budget and cost reports that are essential to monitor and control costs. As events occur or conditions change, modifications to or deviations from the original budget may be necessary. In the event the General Manager determines that an emergency exists which requires immediate action; he may transfer appropriations within the budget allocations or request that the Board of Directors increase the current budgeted funds. Due to the size of the District’s CIP, a separate budget book has been prepared outlining in detail the projects and expenditures required to ultimate build-out. A synopsis of the CIP may be found under the Capital Budget section of this report. As part of the integrated budget, capital purchases have been included within the CIP Budget. The Budget Report is intended as a financial guide and may be modified by the Board of Directors during fiscal year 2017. All approved modifications to the budget will be documented in the form of a staff report and noted in the board meeting minutes. Water   and   Sewer  Rates    Strategic  Plan  MWD/CWA &   Sewer Rates  Year End  Balances  Operating  Budget Input  CIP Budget  Input    Assumptions  Interest Rates  Inflation  Growth   Sales    Targets  Debt Coverage Reserve Levels Rate  Model Operating  Budget    CIP  Budget  13 Budget Overview Budget Basis The District utilizes the accrual basis for budgeting which is the same as the basis of accounting used in the audited financial statements, recognizing revenues and expenses in the period in which they are earned and incurred, regardless of the timing of cash receipts and disbursements. The District reports its activities on an enterprise fund basis, which is used to account for operations that are financed and operated in a manner similar to a private business enterprise and conforms to the guidelines of Generally Accepted Accounting Principles (GAAP). The intent of the District is that the costs (including replacement cost of existing assets) of providing goods or services to the general public on a continuing basis, be financed or recovered primarily through user charges. Fund Structure The District budgets services in one of the three business segments: Potable, Sewer, or Recycled. Each business segment categorizes revenue and expenditure as a function of the Operating Budget, Capital Improvement Plan Budget, or Developer Deposits. Please refer to the District’s Reserve Policy, beginning on page 197, which provides the detailed flow of funds. Recycle   Sewer Sewer Operating Budget Sewer CIP Budget Sewer Developer Deposits Recycle Operating Budget Recycle Developer Deposits Recycle CIP Budget Potable Potable Operating Budget Potable CIP Budget Potable Developer Deposits 14 RESOLUTION NO. 4302 A RESOLUTION OF THE BOARÐ OF DIRECTORS OF OTAY WATER DISTRTCT ADOPTTNG THE FISCAT, YEAR 2OL6-20T7 OPERÄTING AND CAPITAL BUDGET; AND THE JOB CLASSTFICATTON AND SALARY SCHEDULE II{HEREAS, the OÈay Water District Board of Directors have been presented wit,h a budget (Exhibit L) for the operation of the Ot.ay Water Dist.rict for Fiscal Year 20l-6-20L7; and V'IHEREAS, the Fiscal Year 20L6-20L7 OperaLing and Capital Budget, has been reviewed and considered by the Board; VüHEREAS, it is in the interest of the District to adopt budget for said year; I,{HEREAS in connecti-on with the a Board is also being presented with a adopt,ion of the budget, the Iisting of job (Exhibit 2) for itsscheduleclassifications and salary consideration, i-n order to Regulat.ions Section 570.5, comply with California Code of NOW, THEREFORE, BE TT RESOLVED, DETERMTNED AND ORDERED bY Lhe Board of DirecÈors of the Otay Water Dístríct t.hat t,he Operating and Capital Budget for the operation of the District, incorporat.ed herein by reference, is hereby adopted as the District's budget for Fiscal Year 20L6-20l-7. BE ÏT FURTHER RESOLVED that, t,he Board hereby approves and included with the budget and,adopt,s the consist.ent salary schedule with his authority over employee compensation under 1515 bot.h Stat.e law and the District's Code of Ordinances, authorizes the Genêra1 Manager to update the salary schedule whenever necessary to reflect changes made within his authority. PASSED, APPROVED AND ADOPTED by the Board of Directors of Otay I¡trat.er District at a board. meeting held thj-s 23'd day of May 20L6, by the following vote: Ayes: Noes: Abstain: AbsenE: DirecÈors Oloucher, Lopez and Smith None Director Robak Director Thompson ei4 Vice President ATTEST: stri c SecreÈa 1616 Past and Present The Otay Water District was formed in 1956 by a small group of ranchers, farmers, and other property owners concerned about the declining quality and quantity of well water. In 1957, developers in south Spring Valley created the La Presa County Water District to obtain water from the San Diego County Water Authority (CWA). The CWA is the water wholesale supplier of the member agencies in San Diego County. In the fall of 1969, Otay Water District and La Presa County Water District merged into the Otay Water District. Since then, the District has grown from a handful of customers and two employees to become an organization operating a water network with more than 730 miles of potable and 104 miles of recycled pipelines, 44 reservoirs, a water reclamation plant, and one of the largest recycled water distribution systems in the State of California. The character of the service area has also changed from predominantly dry-land farming and cattle ranching to businesses, high-tech industries, and large master-planned communities. The District’s boundaries currently stretch from Otay Mesa and eastern Chula Vista to Spring Valley, southern El Cajon, and Jamul. The coming years will continue to pose considerable challenges for those in California’s water community. The state is just beginning to recover from its fourth straight year of a record drought and despite extensive efforts to develop more reliable water, Governor Jerry Brown and the State Water Resources Control Board (SWCRB) ordered mandatory cuts in potable water use across California. The District’s mandatory cut of 20% in FY 2016 has been reduced to 8% for FY 2017. The District’s customers have done an excellent job in conserving water usage, which has resulted in the District meeting the mandatory reductions. Additionally, the region experienced large potable water supply cost increases totaling more than 90% since 2007 and a 116% increase in the recycled water supply, which was effective January 1, 2016. La Presa County Water District (ca. 1957) 17 Past and Present Finally, the inaction in the State Capitol to address the crisis in the Sacramento – San Joaquin Bay Delta, the source of 30.0% of Southern California’s water supply adds further uncertainty to the future cost and availability of water. Fortunately, the District, as a member of the CWA, is well-positioned for water coming from the Colorado River due to the Quantification Settlement Agreements (QSA) and desalinated water from the Carlsbad Desalination Plant. In June 2007, the District dedicated the Supply Link Project connecting the recycled water system to the City of San Diego’s City South Bay Water Reclamation Plant. Today, the District purchases about 3 million gallons per day (mgd) of recycled water from the City of San Diego, increasing to 6 mgd ultimately. In addition, 1 mgd is produced at the District’s RWCWRF Plant. With recycled water meeting a large portion of the landscape irrigation needs, this means in the future approximately 7 mgd of potable water does not have to be pumped hundreds of miles from northern California or the Colorado River. Instead, enough drinking water to serve more than 15,000 homes is being replaced by recycled water in the years to come. 18 Current Economic Conditions The District services the needs of a growing population by purchasing water from the San Diego County Water Authority (CWA). The CWA purchases its water from the Metropolitan Water District of Southern California (MWD) and the Imperial Irrigation District (IID). The District takes delivery of the water through several connections of large diameter pipelines owned and operated by CWA. The District currently receives treated water from CWA and from Helix Water District (HWD) by contract with CWA. In addition to the treated water deliveries from CWA, the District has several emergency agreements with the City of San Diego, Helix Water District, and Sweetwater Authority that allows agencies to have flexibility to deal with emergency shutdowns. Through innovative agreements like these, benefits can be achieved by both parties by using excess capacity of another agency and diversifying local supply, thereby increasing reliability. For several decades, the District has collected and recycled wastewater generated within the Jamacha drainage basin and pumped the recycled water south to the Salt Creek basin where it is used for irrigation and other non-potable uses. However, the demand for recycled water out-paced the supply, requiring the District to supplement the limited supply of recycled water with potable water. Through the agreement with the City of San Diego, the District has discontinued supplementing its recycled demand with potable water. Once again, this decreases the demand on potable water and increases reliability of the District’s supply. The District’s sewer service area is growing at a slow but steady rate of approximately 0.2% each year. Most of this growth is from small development projects or homeowners converting their septic system to sewer because of environmental issues. The District’s water service area was one of the fastest growing regions in the nation. It is estimated that the District is currently serving approximately 220,000 residents. The local and national recovery from the global recession of 2009 has been slow; however, due to San Diego County’s diverse economy, it is forecasted to do better than most of the nation. Over the past 12 years, the District has added more than 7,409 new customer connections, with 2,189 occurring in Fiscal Year 2004. In Fiscal Year 2016, the District sold 118 meters which is an average of 10 meters per month. 19 The Future The District continues to use the challenges presented by growth to create new opportunities and new organizational efficiencies. By utilizing and continuing to refine its Strategic Business Plan, it has captured the Board of Director’s vision and united its staff in a common mission. The organization has achieved a number of significant accomplishments based on its successful adherence to its Strategic Business Plan. The District is not only poised to continue successfully providing an affordable, safe, and reliable water supply for the people of its service area, but is set to reap the rewards of greater efficiencies and economies of scale. Future Development As in the previous fiscal year, the District employed an Economist to provide an Economic Outlook of the national economy, San Diego County’s economy, the future of south San Diego County, and an overview of the Otay Water District. Projections of future development indicate that the ratio of multi-family units will increase because the remaining land is zoned for multi-family development. Projected Units for Sale and Rental Otay Water District Service Area FY 2016 through FY 2022 Project FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 Total Total Single-Family Units 16 91 399 544 619 725 747 3,141 Total Condominium 275 302 232 347 649 669 788 3,262 Total Rental 0 519 310 563 745 557 721 3,415 Total Units 291 912 941 1,454 2,013 1,951 2,256 9,818 % Multi-Family 95% 90% 58% 63% 69% 63% 67% 68% Source: The London Group Realty Advisors, March 2016 Using the economist report, the District’s engineering staff projects that over the next six years the District will sell another 3,416 meters which translates to 5,557 equivalent dwelling units (EDUs). These projections have been incorporated in the Five-Year Forecast on page 67. Projected Meter Sales in EDUs 34 2 63 3 91 7 1, 1 0 8 1, 2 2 5 1, 3 3 2 0 500 1,000 1,500 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 20 The Future San Diego County Water Supply San Diego County imports about 84.0% of its water from the Colorado River and Northern California. Since these sources face legal and environmental constraints, the region has been exploring other ways to ensure an adequate water supply including increased water recycling, more aggressive conservation programs, increased water storage, groundwater desalination, and seawater desalination. Carlsbad Desalination Plant The District’s water wholesaler, the San Diego County Water Authority, entered into a formal Water Purchase Agreement (WPA) in November 2012. The WPA outlines the commercial and financial terms for the purchase and delivery of desalinated ocean water produced at the Carlsbad Desalination Plant. Under the WPA, the County Water Authority will purchase 48,000 to 56,000 acre-feet of water annually from the desalination plant. The plant is expected to produce up to 50 million gallons of water a day and will generate enough water to serve about 112,000 families and meet 7 to 10 percent of the region’s demand. Commercial production began on December 23, 2015. The total price for the desalinated water for 2016 is estimated to be between $2,131 and $2,267 per acre-foot depending on how much is purchased annually. An acre-foot is approximately 325,900 gallons or enough to supply two typical single-family households of four for a year. Rosarito Desalination and the Otay Mesa Conveyance and Disinfection System Projects The Rosarito Desalination Project is comprised of a 100 million gallons per day seawater reverse osmosis desalination plant, together with a pump station and pipeline, to convey water to Tijuana and to the District. This would be the first cross- border water supply project of its kind and requires public messaging to inform key stakeholders and the public of the significance of the Project. If successful, this Project may start delivering water to District customers by early 2024. The Project includes the construction of facilities on the U.S. side to include a large diameter pipeline 3.5 miles long, a pump station, a disinfection facility and the use of the Roll Reservoir in Otay Mesa. Rosarito Desalination Project rendering Carlsbad Desalination Plant, 2015 21 Demographics The District boundaries shown in the map encompass an area of approximately 125.5 square miles in San Diego County, located immediately east of the City of San Diego metropolitan area and running from the City of El Cajon south to the international border. SANDAG creates and maintains a tremendous quantity of demographic, economic, land use, transportation, and criminal justice information about the San Diego region. The demographic data include population characteristics such as age, education, and employment. The following demographic data was provided by The London Group Realty Advisors, which summarizes the sub regional areas of Sweetwater, South Bay and Jamul. Demographics of the Otay Water District The population of the Otay Water District has grown from 114,937 in 1980 to 286,329 in 2010. This represents a 149.1% increase over the past 30 years. The average persons per household was 3.46. For 2016, SANDAG reports the City of Chula Vista’s ethnic/racial makeup with 44.3% Hispanic, 9.0% non- Hispanic white, 17.2% Asian and the remaining population are of other ethnic/racial descent. In a recent economic forecast conducted by The London Group Realty Advisors, the District’s median age is 35.8 and 33.14% of adults have a four-year degree or higher. The average household income is $102,299 and the median household income is $85,663. The London Group Realty Advisors have projected that the housing units in the District’s service area will consist of low density townhomes and multi-plexes. The average residential sales price in South San Diego County has increased from $398,174 in 2009 to $686,183 in 2015. Otay Water District Demographics (2016) Population 243,916 Persons/Household 3.46 Ethnic/Racial makeup Hispanic 44.3% Non-Hispanic White 9.0% Asian 17.2% Other 15.1% Median Age 35.8 Percentage with 4 year degree or higher 33.14% Average Household Income $ 102,299 Median Household Income $ 85,663 Source: SANDAG, The London Group Realty Advisors, Claritas Demographics 22 The District strives to remain cost effective in its rate setting by controlling operating costs, yet passing through the full cost of supply. In May 2016, the District conducted a survey of the water rates of its neighboring water providers within San Diego County. The following chart shows that the District has the 11th lowest water rates in San Diego County. Water Rate Comparison, Member Agency Water Rates Projected water bill for FY 2017 Based on 11 Units of water Use and 3/4 meter size 109.09 106.38 106.14 96.95 96.94 92.08 83.59 81.41 80.89 78.70 77.37 77.18 75.32 74.08 74.02 73.76 71.85 70.71 69.11 66.01 62.88 58.10 $- $20 $40 $60 $80 $100 $120 Yuima Padre Dam Ramona * Valley Center Rainbow Fallbrook Vista Escondido Rincon Del Mar San Diego Otay Water District Helix Sweetwater * Carlsbad Oceanside * Poway Olivenhain Vallecitos Santa Fe San Dieguito Lakeside* *At the time of the survey in May 2016, the member agency's FY 2017 rate was unavailable. The estimated increase is equal to the District's FY 2017 average rate increase. 23 Water consumption based sewer rate Flat sewer rate Otay Water District The District conducted a survey of the rates of the sewer providers within San Diego County. Sewer rates are billed at either a fixed or variable rate. The following chart shows the various sewer providers and the type of rate that is charged to the consumers. The District is among the lowest sewer rates in the County of San Diego. Based on 11 units of water Use and 3/4 residential meter size Projected sewer bill for FY 2017 Sewer Rate Comparison, San Diego County 108.22 87.46 86.52 81.06 75.50 73.91 69.88 69.83 63.28 59.25 57.65 57.52 55.08 55.31 53.63 52.43 51.91 51.51 49.02 48.33 47.47 41.92 41.35 40.01 33.60 29.33 29.13 28.64 $- $20 $40 $60 $80 $100 $120 Del Mar *Encinitas Oceanside Fallbrook Rainbow Olivenhain Padre Dam *Rancho Santa Fe Ramona Buena *El Cajon San Diego, City Vista *Solana Beach *Valley Center - MG La Mesa Chula Vista Escondido *Imperial Beach *Poway *Lemon Grove Coronado,City Vallecitos Otay Water District *National City *San Diego, County *Carlsbad Leucadia * At the time of the survey in July 2016, the member agency's FY 2017 rate was unavailable. The estimated increase is equal to the District's FY 2017 average rate increase. 24 Source: County of San Diego Auditor and Controller Otay Water District’s service area encompasses property with over $26.1 billion of assessed valuation. Properties are assessed at 100% of their full value less exemption from taxation under the law and homeowner’s exemptions. The District receives its portion of the 1% property tax, according to Proposition 13 and AB8. With the very recent increases in the assessed valuation, the District will benefit by receiving its proportionate share of this increase. Five-Year Service Area Assessed Valuation, in millions ($) Service Area Assessed Valuation $- $4,000 $8,000 $12,000 $16,000 $20,000 $24,000 $28,000 2012 2013 2014 2015 2016 $23,145 $22,836 $23,304 $24,682 $26,058 25 Assessed Percent Value to Total 1. GGP-OTAY RANCH LP 119,330,990$ 0.460% 2. BRISA ACQUISITIONS LLC 118,281,029 0.450% 3. AVALON II CALIFORNIA VALUE IV LP 115,380,000 0.440% 4. REGULO PLACE APARTMENTS INVESTORS LLC 100,283,129 0.380% 5. VISTA PACIFIC VILLAS LP 91,951,717 0.350% 6. JOHN HANCOCK LIFE INSURANCE CO USA 88,422,185 0.340% 7. BRE - FM CA LLC 76,216,169 0.290% 8. SP LAVIDA REAL LLC 70,475,975 0.270% 9. CAMDEN USA INC 67,081,961 0.260% 10. FRG CORONA POINTE LLC 52,987,961 0.200% Total $ 900,411,116 3.460% Total Service Area Assessed Valuation $ 26,057,698,553 88,327,076$ Ten Principal Taxpayers 900,411,116$ Other Taxpayers 25,157,287,437 26,057,698,553$ Source: County of San Diego Auditor and Controller Organization Ten Principal Taxpayers as of June 30, 2016 26 Customer Customer Annual % of Water Name Type Revenues Sales 1. CITY OF CHULA VISTA Publicly Owned 3,247,032$ 4.4% 2. STATE OF CALIFORNIA Publicly Owned 1,017,064 1.4% 3. COUNTY OF SAN DIEGO Publicly Owned 750,769 1.0% 4. EASTLAKE III COMMUNITY Commercial 637,974 0.9% 5. STEELE CANYON GOLF CLUB LLC Commercial 598,046 0.8% 6. CHULA VISTA SCHOOL DISTRICT Publicly Owned 524,968 0.7% 7. EASTLAKE COUNTRY CLUB Commercial 442,514 0.6% 8. SWEETWATER SCHOOL DISTRICT Publicly Owned 353,981 0.5% 9. HIGHLANDS GOLF COMPANY LLC Commercial 335,488 0.5% 10. EASTLAKE 1 HOA Commercial 306,520 0.4% Total 8,214,357$ 11.1% 73,874,227$ Ten Largest Customers 8,214,357$ 11.1% Others 65,659,870 88.9% 73,874,227$ 100.0% Ten Largest Customers - Fiscal Year 2016 27 San Diego Rainfall Although San Diego received less than normal rainfall in Fiscal Year 2016, the District is hopeful that San Diego's rainfall will return to its average pattern and volume for Fiscal Year 2017. The 10-year average of 8.16 inches for San Diego rainfall reflects the long-term drought conditions for our area. San Diego's rainfall average over 20 years is 8.7 inches; the 30-year average is 9.52 inches; and the 40-year average is 10.27 inches. San Diego rainfall, while a contributing factor, is not the controlling factor for our potable water supply shortage. The San Diego region imports 84.0% of its potable supply, so conditions elsewhere significantly affect the actual amount of water available to the District. In the event the amount of water supplied to the District is reduced, water sales revenues would decrease. Related water purchase expenses would also be reduced, mitigating the impact of the decrease in revenues. The amount of any supply reduction would dictate the magnitude of the District's response and type of reaction. The San Diego rainfall information shown in the chart above uses data from the San Diego Airport at Lindbergh Field and is provided by the Western Regional Climate Center. More information can be obtained from their website: http://www.wrcc.dri.edu. The Western Regional Climate Center’s website data, in turn, is derived from data received from the National Climatic Data Center, the National Weather Service, the National Resource Conservation Service, the Bureau of Land Management, the U.S. Forest Service, and other federal, state, and local agencies. Although the data reflects actual rainfall at Lindbergh field, it is representative of rainfall for the area served by the Otay Water District. Fiscal years 2007 - 2016 3.85 7.49 9.17 11.01 12.66 8.03 6.48 5.74 7.68 9.51 0 5 10 15 20 25 30 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 In c h e s Annual Rainfall 28 Strategic Plan – Fiscal Years 2015 - 2018 Introduction The Strategic Plan is the core document which guides the District’s efforts to meet and positively adapt to change. The overall plan is extensively reviewed and revised every three to four years. This current edition (covering fiscal years 2015-2018) is the fifth in a series of updated plans. In order to develop the FY 2015-2018 Strategic Plan, the Senior Management Team carefully reviewed the previous strategic plans and, in an interactive environment, examined future opportunities and risks. After careful analysis, an overall direction is set for the plan. In 2015 a solid systems foundation was put in place completing a replacement work order and SCADA system, and improving the core GIS system for managing the District’s infrastructure. The FY 2016 to 2018 objectives, which follow, build upon this foundation and focus on business process improvement and facilities. The General Manager presented the plan to the Board on May 19, 2015 as part of the overall District Budget. With this plan, the Board is able to make more informed oversight decisions about the utility’s direction, and assess performance. To provide high quality and reliable water and wastewater services to the customers of the Otay Water District, in a professional, effective and efficient manner.   A District that is innovative in providing water services at competitive rates, with a reputation for outstanding customer service.   Our key challenge, as District staff, is to quantify and demonstrate our commitment and ability to optimize our resources, business processes, and technology to achieve the strategic plan goals. We, as a team, commit to regularly assess and document how our decisions and work practices accomplish our goals and objectives. KEY CHALLENGE VISION MISSION 29 Strategic Plan – Statement of Values We strive to provide the highest quality and value in all that we do. EXCELLENCE We commit ourselves to doing the right thing. Ethical behavior, trustworthiness, and accountability are the District’s foundation. INTEGRITY We see each individual as unique and important. We value diversity and open communication to promote fairness, dignity, and respect. EMPLOYEES We promote mutual trust by sharing information, knowledge and ideas to reach our common goals. TEAMWORK We take pride that our commitment to customer-centered service is our highest priority. CUSTOMERS 30 Strategic Plan – Balanced Scorecard Perspective The Balanced Scorecard is used as a core methodology for the District’s Strategic Plan. This method aligns business activities to the vision and strategy of the organization and is designed to ensure that a company is performing consistently on a wide range of measures necessary to ensure both short-term and long-term advancements. The Balanced Scorecard emphasizes an integrated strategy approach for the development of goals and measures in four perspectives: customer, financial, business processes, and learning and growth. Major components of the Strategic Plan are the District’s strategic objectives which guide the agency’s efforts to meet and positively adapt to change. Each objective is broken down by the balanced scorecard, strategy, and goal required to meet the specific challenge. Customer Deliver high quality services to meet and increase confidence of the customer in the value the District provides Financial Manage the financial issues that are critical to the District Business Processes Maximize efficiency and effectiveness Learning & Growth Provide leadership and management expertise Performance measures and targets are a critical element of the Strategic Plan but differ from strategic plan objectives. Objectives identify the action items that are necessary to execute the mission of the District. Performance measures are designed to ensure the day-to-day operations and services of the utility are meeting agreed upon expectations. 31 Strategic Plan – Administrative Services OBJECTIVES Balanced Scorecard: Customer Goal Improve and expand communications Objective Regularly produce and evaluate communications tools and explore the effective use of new media options including: electronic newsletters, auto-dialer services, video streaming, social networks, or web media to ensure the District’s outreach efforts are cost-effectively reaching all stakeholders Goal Provide effective water services Objective Update of SCADA program(2) Balanced Scorecard: Financial Goal Improve financial information and systems Objective Enterprise e-commerce (purchasing/contracting) solution – BidSync(2) Balanced Scorecard: Business Processes Goal Identify and evaluate improvements to enterprise and departmental business processes. Objectives  Optimize asset management program  Enhance District’s enterprise facilities physical security  Enhance District's enterprise confine space program  Automation and enhancement of District-wide operational forms and workflows(2)  Evaluate implementation of an on-line performance management system(1) Balanced Scorecard: Learning and Growth Goal Reinforce a results-oriented and accountable culture Objectives  Negotiate a successor Memorandum of Understanding for represented employees for 2017 and beyond and related compensation and benefits for unrepresented employees with emphasis on making necessary updates to employee health benefits related to health care reform(1)  Enhance District's emergency response program (1) New objective in fiscal year 2017 (2) Objectives completed in fiscal year 2016 32 Strategic Plan – Administrative Services Goal Focus on achieving a lean, flexible workforce Objectives  Evaluate opportunities to combine or transfer similar work functions  Evaluate training and development programs for new and existing supervisors/managers(1) Fiscal Year 2016 Year End Results PERFORMANCE MEASURES Customer Satisfaction Level of overall customer satisfaction with the District (1) New objective in fiscal year 2017 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 3 6 0 0 Completed On Schedule Behind On Hold 0510 Completed On Schedule Behind On Hold Total 9 Objectives Balanced Scorecard Customer Target 90% Customer Satisfaction Measurement Method Percent positive/Percent surveyed  33 Strategic Plan – Administrative Services Enterprise System Availability Percentage of network uptime and reliability Employee Voluntary Turnover Rate Annual percentage of voluntary terminations (excludes retirement) Training Hours per Employee General and management formal training hours completed per employee Balanced Scorecard Business Processes Target No less than 99.5% each quarter in a year Measurement Method 99.5% = 3.60 hours of downtime per month/1.83 days of downtime in a year 99.0% 99.2% 99.4% 99.6% 99.8% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected Balanced Scorecard Learning and Growth Target Less than 5% turnover in a year Measurement Method Number of voluntary resignations (not including retirements) /Average number of employees  0.0% 1.5% 3.0% 4.5% 6.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected Balanced Scorecard Learning and Growth Target 12 hours or more per employee per year Measurement Method Total qualified training hours for all employees/ Average number of full time employee (FTE)  0 5 10 15 20 25 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 34 Strategic Plan – Administrative Services Safety Training Program Number of safety training programs/ hours annually provided to all field employees                           (1) New performance measure for fiscal year 2017 Injury Incident Rate(1) Injury incidents per 200,000 hours worked compared to the National Average for Utilities – Water, Sewage, and other Systems Balanced Scorecard Learning and Growth Target 24 hours or more per field employee per year Measurement Method Number of safety training hours/Number of field employees (includes mandated training)  0 10 20 30 40 50 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected Balanced Scorecard Learning and Growth Target No more than 6.6 injury incidents per 200,000 hours worked in a year Measurement Method [200,000 (Number of injuries and illnesses)]/Employee hours worked  0 2 4 6 8 10 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 35 Strategic Plan – Finance Objectives Balanced Scorecard: Customer Goal Increase customer confidence in the District Objectives Enhance communications with customers Balanced Scorecard: Financial Goal Maintain District financial strength Objectives  Implement a cost benefit program  Strengthen internal audit program Balanced Scorecard: Business Processes Goal Identify and evaluate improvements to enterprise and departmental business processes Objectives Improve and streamline meter related processes Fiscal Year 2016 Year End Results 0 4 0 0 Completed On Schedule Behind On Hold 0246 Completed On Schedule Behind On Hold Total 4 Objectives 36 Strategic Plan – Finance Performance Measures Answer Rate Percent of calls as a measure of all calls received O&M Cost per Account Operation and maintenance cost per account (per customer) Billing Accuracy Number of correct bills issued Balanced Scorecard Customer Target No less than 97% each quarter in a single year Measurement Method Number of all calls answered/Number of all calls received 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected Balance Scorecard Financial Target Less than $544.88 per account in a year Measurement Method Total O&M costs/Number of accounts  Balanced Scorecard Financial Target No less than 99.80% per quarter in a year Measurement Method Number of correct bills/Number of total bills  95.0% 96.0% 97.0% 98.0% 99.0% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected $0 $100 $200 $300 $400 $500 $600 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 37 Strategic Plan – Finance Overtime Percentage Comparison of actual overtime to budgeted overtime Sewer Rate Ranking District's average sewer bill as compared to other agencies in San Diego County Water Rate Ranking District's average customer bill as compared to other agencies in San Diego County Balance Scorecard Financial Target Less than 100% of the budgeted overtime in a year Measurement Method Actual overtime costs (including comp time) Balance Scorecard Financial Target Bottom 50 percentile for the 28 sewer service providers in San Diego Measurement Method Otay percentage ranking for the average bill for sewer among regional agencies  Balance Scorecard Financial Target Bottom 50 percentile for the 22 member agencies in San Diego Measurement Method Otay percentage ranking among regional agencies  0.0% 20.0% 40.0% 60.0% 80.0% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 0 4 8 12 16 20 24 28 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 5 8 11 14 17 20 23 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 38 Strategic Plan – Finance Debt Coverage Ratio Measures level of debt coverage ratio (ability to pay debt) Reserve Level Measures the District’s reserves against the Board adopted Reserve Policy levels Distribution System Loss Percentage for unaccounted water Balance Scorecard Financial Target 150% excluding growth revenue Measurement Method Qualified net operating revenues/Debt service requirements  100.0% 125.0% 150.0% 175.0% 200.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected Balance Scorecard Financial Target 85% Measurement Method Number of reserve funds that meet or exceed fund target levels/Total number of reserve funds 70.0% 80.0% 90.0% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected Balance Scorecard Financial Target Less than 5% in a year Measurement Method 100 [Volume purchased – (volume sold + volume used) /Volume purchased] 0.0% 1.0% 2.0% 3.0% 4.0% 5.0% 6.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 39 Strategic Plan – Finance Accounts per Full-Time Employee (FTE)(1) Percent of Customers Paying Bills Electronically(2) Payments received via website, IVR over the phone, pay stations, and direct transfers from banks Gallons Per Capita per Day Department of Water Resources and California Urban Water Council targets for per capita use of potable water (1) FY 2016-2017 is the first year for this performance measure (2) FY 2015-2016 is the first year for this performance measure Balance Scorecard Financial Target 406 accounts per FTE Measurement Method Potable + Recycled + Sewer Accounts/ Number of full time employees Balanced Scorecard Financial Target In development Measurement Method Number of customers paying bills electronically/Total number of customers 380 390 400 410 420 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 65.0% 75.0% 85.0% 95.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected Balance Scorecard Customer Target Below 172 gallons per day Measurement Method Total potable water purchased/ Population (from San Diego Association of Governments (SANDAG))/Number of days through the end of the reporting period (fiscal year)  75 95 115 135 155 175 195 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 40 Strategic Plan – Water Operations Objectives Balanced Scorecard: Customer Goal Improve and expand communications Objectives Evaluate requirements for future emergency communication system Balanced Scorecard: Financial Goal Improve financial information and systems Objectives  Electric power and fuel management practices  Enhance management control of non-inventory items Balanced Scorecard: Business Processes Goal Actively manage water supply as well as support for water and sewer services Objectives  Leak detection and repair program  Pressure vessel maintenance program Goal Identify and evaluate improvements to enterprise and departmental business processes Objectives  Operations workflow process evaluation  Streamline input of operations data Fiscal Year 2016 Year End Results 0 4 2 1 Completed On Schedule Behind On Hold 0246 Completed On Schedule Behind On Hold Total 7 Objectives 41 Strategic Plan – Water Operations PERFORMANCE MEASURES Technical Quality Complaint Complaint rate related to core utility services  Planned Potable Water Maintenance Ratio in $ Planned maintenance costs compared to combined planned and corrective maintenance costs Planned Recycled Maintenance Ratio in $ Planned maintenance costs compared to combined planned and corrective maintenance costs Balance Scorecard Customer Target No more than 9 complaints per 1000 customer accounts in a year Measurement Method 1000 (Number of technical quality complaints)]/Number of active customer accounts per reporting period Balanced Scorecard Financial Target 66% of labor dollars spent on preventive maintenance per quarter in a year Measurement Method Total planned maintenance cost/Total maintenance cost 0 2 4 6 8 10 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected Balanced Scorecard Financial Target 70% of labor dollars spent on preventive maintenance per quarter in a year Measurement Method Total planned maintenance cost/Total maintenance cost 50% 60% 70% 80% 90% 100% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected (1) (1) In FY 2013-2014 the target was not met due to the repairs needed to the 927/944 pressure regulating valves at the Use Area  42 Strategic Plan – Water Operations Planned Wastewater Maintenance Ratio in $ Planned maintenance costs compared to combined planned and corrective maintenance costs Direct Cost of Treatment per MGD Does not include staff overhead or fringe benefits, but it does include staff salaries O&M Cost per MGP - Wastewater Includes staff overhead or fringe benefits, but it does not include staff salaries Balanced Scorecard Financial Target 77% of labor dollars spent on preventive maintenance per quarter in a year Measurement Method Total planned maintenance cost/Total maintenance cost Balanced Scorecard Financial Target No more than $1050 per MG spent on wastewater treatment in a year Measurement Method Total O&M costs directly attributable to sewer treatment /Total volume (in MGD) Balanced Scorecard Financial Target No more than $1925 per MG spent on O&M for wastewater treatment in a year Measurement Method Total O&M cost (less depreciation)/Volume in MG processed $700 $800 $900 $1,000 $1,100 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected $1,000 $1,200 $1,400 $1,600 $1,800 $2,000 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 43 Strategic Plan – Water Operations Leak Detection Program(2) Percentage of Potable and Recycled Distribution systems surveyed for leaks Percent of Preventative Maintenance Completed – Fleet Shop Preventative Maintenance includes vehicle services, pump station emissions tests, etc. Percent of Preventative Maintenance Completed – Reclamation Plant Preventative maintenance includes exercising standby equipment, changing oil on equipment, etc.   (1) FY 2014-2015 is the first year for this performance measure 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected Balanced Scorecard Financial Target 20% by the end of the year Measurement Method Percentage distribution system surveyed for leaks Balanced Scorecard Business Processes Target 90% each quarter in a year Measurement Method Number of PM's completed/Number of PM's scheduled to be completed Balanced Scorecard Business Processes Target 90% each quarter in a year Measurement Method Number of PM's completed/Number of PM's scheduled to be completed 75.0% 80.0% 85.0% 90.0% 95.0% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 44 Strategic Plan – Water Operations Percent of Preventative Maintenance Completed – Pump/Electric Preventative maintenance includes pump motor oil changes, vibration tests, etc. System Valve Exercising Program Valves exercised per year for maintenance to ensure minimal interruption of water delivery to customers Potable Water Distribution System Integrity Number of leaks and breaks per 100 miles of potable distribution system Balanced Scorecard Business Processes Target 90% each quarter in a year Measurement Method Number of PM's completed/Number of PM's scheduled to be completed Balanced Scorecard Business Processes Target 770 valves per quarter/3080 valves in a year Measurement Method Actual number of valves exercised Balanced Scorecard Business Processes Target 16 leaks or breaks per 100 miles of distribution piping in a year Measurement Method 100 (Annual total number of leaks or breaks)] / Total miles of distribution pipes 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 0 1,000 2,000 3,000 4,000 5,000 6,000 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 0.0 5.0 10.0 15.0 20.0 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 45 Strategic Plan – Water Operations (1) The actual and projected number of system failures for FY 2014-2017 is zero (2) FY 2014-2015 there was one break/leak on the recycled water system Collection System Integrity Number of wastewater collection system failures per 100 miles of collection system pipeline Recycled Water System Integrity Number of leaks or breaks per 100 miles of recycled distribution system Balanced Scorecard Business Processes Target No more than 3.6 system failures per 100 miles of collection system pipeline in a year Measurement Method [100 (Collection system failure)] /Total miles of collection system piping 0 1 2 3 4 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected (1)  Balanced Scorecard Business Processes Target No more than 6.6 leaks or breaks per 100 miles of recycled distribution system in a year Measurement Method [100 (Number of leaks or breaks)]/Total miles of distribution system (2)  46 Strategic Plan – Water Operations (1) Both actual/projected and target are at 100% (2) Both actual/projected and target are at 0.0% (3) FY 2014-2015 is the first year for this performance measure Sewer Overflow Rate The wastewater collection system pipeline condition and the effectiveness of planned maintenance Potable Water Compliance Rate Compliance rate primary health related drinking water standards are met Emergency Facility Power Testing(3) Test facilities equipped with emergency generators for a loss of power Balanced Scorecard Business Processes Target 100% each quarter in a year Measurement Method All primary health regulations are met 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected (1)  Balanced Scorecard Business Processes Target 0 overflows per quarter in a year Measurement Method [100 (Total number of sewer overflows)]/Total miles of pipe in the sewage collection system 0.0% 0.5% 1.0% 1.5% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected (2) 0 10 20 30 40 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected Balanced Scorecard Business Processes Target 100% of the District’s facilities tested per year Measurement Method Number of facilities and generators tested/Total facilities 47 Strategic Plan – Water Operations Main Flushing and Hydrant Maintenance(1) 215 is comprised of 165 hydrants maintained and 50 mains flushed Critical Valve Exercising Valves exercised per year for maintenance to ensure minimal interruption of water delivery to hospitals, convalescent facilities, schools, and major shopping centers, as well as valves on large transmission mains (1) FY 2014-2015 is the first year for this performance measure (2) In FY 2014-2015, fire hydrant maintenance was the focus for the valve crew. For FY 2015-2016, main flushing was completed on a reactive basis Balanced Scorecard Business Processes Target 215 or more mains flushed and fire hydrants maintained in a single year Measurement Method Number of mains flushed and fire hydrants maintained 0 200 400 600 800 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected Balanced Scorecard Business Processes Target 100% of identified critical valves exercised in a year Measurement Method Cumulative number of mains flushed plus hydrants maintained 50% 60% 70% 80% 90% 100% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected (2) 48 Strategic Plan – Engineering Objectives Balanced Scorecard: Business Processes Goal Actively manage water supply as well as support for water and sewer services Objectives  Evaluate City of San Diego's pure water program planning/implementation  Address dependency of imported water  Sewer system business evaluation  Evaluate the viability of implementing an indirect potable reuse program Goal Identify and evaluate improvements to enterprise and departmental business processes. Objectives  Evaluate efficiencies for delivering capital assets  Streamline work processes in four strategic areas including departmental synergies, technology, procurements, and alignment of business practices  Revise business practices by modifying the master recycled water permit  Implement a habitat conservation plan that will streamline O&M within District easements Fiscal Year 2016 Year End Results       0 5 1 2 Completed On Schedule Behind On Hold 0246 Completed On Schedule Behind On Hold Total 8 Objectives 49 Strategic Plan – Engineering PERFORMANCE MEASURES CIP Project Expenditures vs. Budget Compares CIP expenditures with budget Construction Change Order Incidence Rate of Change Orders for CIP projects under construction Balanced Scorecard Financial Target 95% of budget but not to exceed 100% Measurement Method Actual quarterly expenditures/Annual budget  Balanced Scorecard Financial Target No more than 5% per quarter in a year Measurement Method Total cost of change orders (not including allowances)/Total original construction contract amount (not including allowances)  0.0% 1.0% 2.0% 3.0% 4.0% 5.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 110.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 50 Strategic Plan – Engineering Mark-out Accuracy Percentage of mark-outs performed without an at fault hit, which is damage to a District facility that results from a missing or erroneous mark-out Project Closeout Time Average time between the issuance of a Notice of Substantial Completion (NSOC) and a Notice of Completion (NOC) for CIP projects in construction (1) Both actual/projected and targets are 100% (2) The FY 2013-2014 results for the above performance measure was highly influenced by contractor performance issues on the R2091 project which delayed contract closeout Balanced Scorecard Business Processes Target No less than 100% every quarter in a single year Measurement Method Number of mark-outs performed without an at-fault hit/Total number of mark-outs performed  50.0% 60.0% 70.0% 80.0% 90.0% 100.0% 110.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected Balanced Scorecard Business Processes Target No more than a 45 day average per quarter in a year Measurement Method Number of Days between NOSC and NOC for all construction projects within the quarter/Number of construction projects  0 40 80 120 160 200 FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected (1) (2) 51 Strategic Plan – Engineering Recycled Water Shutdown Testing(1) Quadrennial shutdown testing of recycled water sites (1) FY 2014-2015 is the first year for this performance measure Annual Recycled Water Site Inspections(1) Annual inspection of recycled water sites as required by the Department of Environmental Health (DEH) Balanced Scorecard Business Processes Target 90% of recycled site shut down tests in a year Measurement Method Percentage of recycled water use sites per year compared to those scheduled  50.0% 60.0% 70.0% 80.0% 90.0% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected Balanced Scorecard Business Processes Target 100% of recycled sites inspected in a year Measurement Method Percentage of recycled sites inspected per year of those required by department of environmental health (DEH)  50.0% 60.0% 70.0% 80.0% 90.0% 100.0% FY 13-14 FY 14-15 FY 15-16 FY 16-17 Target Actual & Projected 52 Budget Summary The FY 2017 Operating Budget is summarized and presented in the Operating Budget Summary- General Fund on pages 59-60. This schedule presents the District’s overall revenues and expenditures by type. Also included in this section is the Operating Budget Summary by System on page 61 which presents the General Fund budget in the business segments of Potable, Recycled, and Sewer. Additional schedules provided in this section are the General Fund Revenues, Expenditures and Transfers; Fund Balance Summary by Fund; Revenues and Expenditures by Fund; and Revenues and Expenditures by Type - All Funds; are presented on pages 62-66. For Fiscal Year 2017, the Board has approved an increase in water rates primarily to pass-through cost increases from water suppliers. The Board also approved an increase in sewer rates for the rehabilitation of the aging sewer system. Neighboring agencies are experiencing similar cost increases and most are encountering similar rate increases. The Operating Budget for Fiscal Year 2017 is $91.7 million in comparison to the previous fiscal year budget of $89.2 million. The $2.5 million increase is a result of water supply rate increases of 4.0% from MWD, 5.9% from CWA and 216.3% from the City of San Diego. CWA’s increase is due to the water sales uncertainty due to long-term impacts of state water regulations. General Fund Revenues Potable Water Sales Potable water sales revenue collected from the sale of water including: system charges, energy charges, and penalties account for 78.2% of the District’s operating revenues. It is estimated that 24,809.2 acre- feet of potable water will be sold during FY 2017, which is a decrease of 2,059.5 from FY 2016. Budgeted revenues from water sales are projected to be $72.2 million, an increase of 3.5% compared to FY 2016. Schedules relating to potable water sales are included in the Potable Revenues and Expenditures section of this budget. Recycled Water Sales Recycled water is not subject to the State Water Resources Control Board’s drought mandates. However, the District’s recycled sales were adversely impacted by the mandate. Recycled water sales revenue is generated from the sale of 3,955.7 acre-feet of recycled water. The recycled rate is 15.0% less than the potable irrigation rate. The FY 2017 sales revenue budget is $8.9 million which is a decrease of $215,700 from FY 2016 and includes the incentive credits provided by MWD and CWA. Sewer Revenues Sewer charges are the monthly fees collected and represents 99% of the District’s sewer revenue. The remaining 1.0% of revenue is derived from penalties. The monthly fees are determined by volume of flow and the strength of solids discharged into the sewer system. The FY 2017 Sewer Revenues are projected to be $2.9 million which is a decrease from the prior year of $287,400. 53 Budget Summary Meter Fees Meter fees are charges collected for new water service connections. Fees vary depending upon meter size and the type of service. The FY 2017 revenue from meter fees remains unchanged at $66,200 compared to the FY 2016 budget. The costs associated with meter installations are included in the Operating Expenses section. Capacity Fee Revenues These fees are earned by the General Fund for the Engineering Department’s support for expansion functions. The FY 2017 capacity fee revenue of $1.3 million is an increase of $113,400 compared to FY 2016. Betterment Fees for Maintenance In May 2015, the Board took action to discontinue the collection of these fees beginning in FY 2016. Tax Revenues The District receives 1% property tax revenues and availability fees on properties within the District’s boundaries. These revenues are collected by the County of San Diego via the Property Tax Roll and are remitted to the District annually. Based on the historical collections from the County of San Diego, the District’s projected tax revenues of $4.0 million which is an increase of $135,200 compared to FY 2016. Spending limits for the District are governed by the 1979 passage of California Proposition 4, Limitations of Government Appropriations (Article XIII B of the California Constitution, commonly known as the GANN limit). Proposition 4 places an appropriations limit on most spending from tax proceeds. The following table shows that the District is below the Gann Limit. Otay Water District Appropriations Limit (in thousands) Fiscal Year 2011 2012 2013 2014 2015 2016 Gann Limit $ 3,787 $ 3,917 $ 4,120 $ 4,392 $4,454 $4,673 Appropriations subject to the limit $ 2,924 $ 2,890 $ 2,892 $ 2,968 $3,134 $3,323 Non-Operating Revenues Non-operating revenues are revenues that are not directly related to the operation of a water or sewer utility and include such items as District property rentals and leases, and billing services for the City of Chula Vista. The District projected $2.2 million in revenues for FY 2017 which is a decrease of $305,700 compared to FY 2016. Interest Interest is earned by each fund that has a positive balance and is paid by each fund with a negative balance. Interest income on General Fund balances is considered general use revenue. Interest revenue is projected to be $156,900 in FY 2016 which is $600 less than in FY 2016. 5454 Budget Summary General Fund Expenditures Potable Water Purchases Water purchases are the expenses of purchasing 25,912.3 acre-feet for the District's potable water supply. A provision has been made to allow 1,103.1 acre-feet of water for District usage, leakage, and evaporation. Total Potable Water Purchases are projected to be $31.3 million in FY 2017 which is a decrease of $1.0 million compared to FY 2016. Recycled Water Purchases Recycled water purchases are the expenses of purchasing 2,459.6 acre-feet for the District's recycled water supply which is a decrease of 446.8 compared to Fiscal Year 2017. In addition to the purchases there is a contractual Take-or-Pay payment budgeted for 2,302.4 acre-feet which is 391.6 acre-feet more than FY 2016. Total Recycled Purchases are projected to be $3.6 million in FY 2017 which is an increase of $1,910,100 compared to FY 2016. Infrastructure Access Charge This charge was established in FY 1999 by CWA and is imposed on member agencies as a condition of maintaining connections to the CWA facilities. It is apportioned based on water meters within each member agency. Infrastructure access charges are projected at $2.0 million in FY 2017 which is a slight increase of $45,000 compared to FY 2016. Customer Service Charge This charge was established in FY 2004 by CWA as a fixed charge. The Customer Service Charge is set to recover costs that are necessary to support the functioning of the CWA. The customer service charge is allocated among the member agencies on the basis of each agency’s three-year rolling average of member agency supply purchases from the CWA. The District’s customer service charges are projected to be $1.7 million in FY 2017 which is a slight decrease of $63,600 compared to FY 2016. Supply Reliability Charge This charge was established in FY 2016 by CWA as a fixed charge and became effective January 2016. The Supply Reliability Charge is set to recover a portion of the fixed costs associated with the CWA’s highly reliable water supplies, such as desalinated water (Carlsbad Desalination Plant) and IID water transfer costs. Allocation of this charge is based upon member agencies share of the rolling five-year average M&I deliveries (agricultural deliveries are not included). The reliability charge is projected to be $1.9 for FY 2017. Emergency Storage Charge The Emergency Storage Charge was established by CWA in calendar year 2003, to recover costs associated with non-agricultural water deliveries and is allocated based on each member agency’s share of deliveries. The emergency storage charge is projected to remain at $4.6 million in FY 2017. 5555 Budget Summary Capacity Reservation Charge This charge was established in FY 2002 by the MWD, as a fixed charge on a member agency's requested maximum daily capacity. The Capacity Reservation Charge is a charge per cubic-foot-second (cfs) and is applied to the amount of capacity (daily flow) a member agency expects to use during the peak period from May through September. Capacity reservation charges are projected to be $988,800 which is an increase of $182,400 compared to FY 2016. Readiness-to-Serve Charge This charge was established in FY 1996 by MWD, to recover the principal and interest payments on non- tax supported debt service used to fund the capital improvements necessary to meet the continuing reliability and quality needs associated with current demands. These costs are offset by standby charges collected by MWD on the tax bills of District customers. These charges are projected to be $1.4 million in FY 2017, which is a decrease of $370,800 compared to FY 2016. Power Costs Power costs are expenses associated with the transmission and distribution of water to customers. The pumping costs to distribute water vary with elevation and will increase as water sales increase. Power costs are projected to be $2.9 million, which is a decrease of $174,800 compared to FY 2016. Labor and Benefits Labor and benefits are the wages and fringe benefits for FY 2017 Full-time Equivalent (FTE) employees. Labor costs are reduced by the number of hours that are charged to non-operating Capital Improvement Program (CIP) and developer deposit projects. The detail of actual personnel and payroll related expenses is included in the Departmental Operating Budget section. Labor and benefits are projected to be $20.9 million, which is an increase of $518,900 compared to FY 2016. Administrative Expenses Administrative expenses are costs incurred by various departments that are directly related to District operations. Administrative expenses are projected to be $5.2 million in FY 2017, which is a decrease of $237,200 compared to FY 2016. Additional details are supplied in the Departmental Operating Budget section. Materials and Maintenance Expenses Materials and maintenance expenses are costs associated with the operation and maintenance of District facilities. Materials and maintenance expenses are projected to be $3.5 million in FY 2016, which is a decrease of $156,500 compared to FY 2016. Additional details are supplied in the Departmental Operating Budget section. 5656 Budget Summary General Fund Reserves Expansion Reserves These reserves are established to fund expansion needs including project costs, existing debt payments, and new debt that will be issued in the future to fund expansion. For FY 2017, these reserves will be funded with $3.6 million from Potable Water and $455,600 Recycled Water for a total of $4.1 million. Betterment Reserves These reserves are established to fund the betterment needs of facilities including project costs, existing debt payments, and new debt that will be issued in the future to fund betterment. For FY 2017, these reserves will be funded with $2.3 million from Potable Water, $835,200 from Recycled Water and $351.200 from Sewer funds for a total of $3.5 million. Replacement Reserves These reserves are established to fund the replacement needs including project costs, existing debt payments, and new debt that will be issued in the future to fund replacement. For FY 2017, these reserves will be funded with $464,500 from Potable Water. New Water Supply Reserves These reserves are established to fund new water supply needs including project costs, existing debt payments, and new debt that will be issued in the future to fund expansion. For FY 2017, this reserve will be funded with $35,000 from Recycled Water. Fund Transfers Fund transfers are necessary to ensure that each fund pays its fair share of costs, or to achieve required fund balances per the District’s policy. Transfer to OPEB Trust For FY 2017, the General Fund is budgeted to fund the OPEB Trust $961,000 for retiree health liabilities. Transfer to General Fund Reserve For FY 2017, the General Fund Reserve will be funded with $1.3 million from Potable Water, $1.4 million from Recycled Water and $196,100 from Sewer. 57 Budget Summary Other Financial Schedules/Presentations Operating Budget Summary by System The Budget Summary by System schedule reflects the separation of operating revenues and expenses among potable water, recycled water, and sewer. This is provided as information but is necessary to ensure sufficient revenue is collected from sewer customers versus water customers. General Fund – Revenue, Expenditures, and Transfers This schedule shows the General Fund’s total revenues, expenditures, and transfers showing the prior year’s actuals, the prior year’s budget and unaudited actuals, the current year’s budget, along with the variance from the prior year’s budget. Fund Balance Summary by Fund This schedule shows each fund’s balance at June 30, 2016, and the projected balance for June 30, 2017. These balances are based on the results of the budget and rate model. This includes transfers between funds made to meet target levels as outlined in the Reserve Policy. Revenues and Expenditures by Fund The Revenues and Expenditures by Fund schedule reflects each fund’s revenues and expenditures by business line, where appropriate. This schedule is reconciled to the Fund Balance Summary and excludes transfers between funds. Revenues and Expenditures by Type – All Funds This is a consolidated schedule of revenues and expenditures, including sources and uses of funds but excluding fund transfers. 5858 FY 2015 FY 2016 FY 2017 11-Actual Budget Actual * Budget $% Revenues #Potable Water Sales 70,281,989$ 69,783,700$ 65,413,157$ 72,238,600$ 2,454,900$ 3.5% Recycled Water Sales 8,853,010 9,116,000 8,527,042 8,900,300 (215,700) (2.4%) #Sewer Revenues 3,009,634 3,206,300 3,149,295 2,918,900 (287,400) (9.0%) #Meter Fees 90,246 66,200 78,568 66,200 - - #Capacity Fee Revenues 1,312,108 1,134,800 1,517,128 1,248,200 113,400 10.0% #Betterment Fees for Maintenance 188,123 - - - - - Tax Revenues 3,814,516 3,897,900 3,970,202 4,033,100 135,200 3.5% #Non-operating Revenues 2,404,375 1,873,600 2,434,865 2,179,300 305,700 16.3% #Interest 128,599 157,500 124,502 156,900 (600) (0.4%) ExTransfer from Potable General Fund 553,800 - - - - - Total Revenues 90,636,400 89,236,000 85,214,759 91,741,500 2,505,500 2.8% Expenditures #Potable Water Purchases 33,952,017 32,332,100 29,409,666 31,271,300 (1,060,800) (3.3%) Recycled Water Purchases 1,360,807 1,705,800 2,642,437 3,615,900 1,910,100 112.0% #CWA - Infrastructure Access Charge 1,900,266 1,931,400 1,930,848 1,976,400 45,000 2.3% #CWA - Customer Service Charge 1,796,853 1,777,800 1,778,197 1,714,200 (63,600)(3.6%) CWA - Reliability Charge - 950,400 950,052 1,848,000 897,600 94.4% #CWA - Emergency Storage Charge 4,720,701 4,681,800 4,681,673 4,579,800 (102,000)(2.2%) #MWD - Capacity Reservation Charge 701,976 806,400 883,203 988,800 182,400 22.6% #MWD - Net RTS and Standby Charge 1,817,339 1,798,800 1,587,254 1,428,000 (370,800)(20.6%) Subtotal - Water Costs 46,249,959 45,984,500 43,863,330 47,422,400 1,437,900 3.1% #Power 3,048,335 3,112,800 2,697,915 2,938,000 (174,800) (5.6%) #Labor and Benefits 19,406,815 20,381,000 20,337,890 20,899,900 518,900 2.5% #Administrative Expenses 4,503,990 5,387,800 4,510,379 5,150,100 (237,700) (4.4%) #Materials and Maintenance 3,339,777 3,612,800 3,103,175 3,456,300 (156,500) (4.3%) Subtotal - Operations Costs 30,298,917 32,494,400 30,649,359 32,444,300 (50,100) (0.2%) DTransfer to General Fund Reserve - - - 2,854,300 2,854,300 100.0% #Expansion Reserve 2,538,900 2,695,800 2,695,800 4,093,600 1,397,800 51.9% B Betterment Reserve 3,530,000 2,400,000 2,400,000 3,466,400 1,066,400 44.4% ReReplacement Reserve 3,270,200 3,421,000 3,421,000 464,500 (2,956,500) (86.4%) Transfer to Sewer General Fund 553,800 - - - - - TOOPEB Trust 647,100 1,006,000 1,006,000 961,000 (45,000) (4.5%) Potable General Fund 1,583,800 - - - - - Sewer Replacement 127,000 1,199,300 1,199,300 - (1,199,300) (100.0%) New Supply Reserve 705,000 35,000 35,000 35,000 - - Subtotal - Reserve Funding 12,955,800 10,757,100 10,757,100 11,874,800 1,117,700 10.4% Total Expenditures 89,504,676 89,236,000 85,269,789 91,741,500 2,505,500 2.8% Excess Revenues (Expenditures)1,131,724$ -$ (55,030)$ -$ -$ - Operating Budget Summary - General Fund Budget to Budget VarianceFY 2016 * Actual unaudited 59 Potable Water Sales 72,238,600$ 78.7% Recycled Water Sales 8,900,300 9.7% Sewer Revenues 2,918,900 3.2% Meter Fees 66,200 0.1% Capacity Fee Revenues 1,248,200 1.4% Tax Revenues 4,033,100 4.4% Non-operating Revenues 2,179,300 2.3% Interest 156,900 0.2% 91,741,500$ 100.0% Potable Water Purchases 43,806,500$ 47.8% Recycled Water Purchases 3,615,900 3.9% Power 2,938,000 3.2% Labor and Benefits 20,899,900 22.8% Administrative Expenses 5,150,100 5.6% Materials & Maintenance 3,456,300 3.8% Reserve Funding 11,874,800 12.9% 91,741,500$ 100.0% FY 2017 Operating Revenues FY 2017 Operating Expenditures Operating Budget Summary - General Fund 6060 Potable Recycled Sewer Total Revenues Water Sales 72,238,600$ -$ -$ 72,238,600$ Recycled Water Sales - 8,900,300 2,918,900 11,819,200 Meter Fees 65,800 400 - 66,200 Capacity Fee Revenues 1,248,200 - - 1,248,200 Tax Revenues 3,981,500 - 51,600 4,033,100 Non-operating Revenues 2,143,800 - 35,500 2,179,300 Interest 144,300 8,300 4,300 156,900 Total Revenues 79,822,200 8,909,000 3,010,300 91,741,500 Expenditures Water Purchases 31,271,300 3,615,900 - 34,887,200 CWA - Infrastructure Access Charge 1,976,400 - - 1,976,400 CWA - Customer Service Charge 1,714,200 - - 1,714,200 CWA - Reliability Charge 1,848,000 - - 1,848,000 CWA - Emergency Storage Charge 4,579,800 - - 4,579,800 MWD - Capacity Reservation Charge 988,800 - - 988,800 MWD - Net RTS and Standby Charges 1,428,000 - - 1,428,000 Subtotal - Water Costs 43,806,500 3,615,900 - 47,422,400 Power 2,194,700 568,900 174,400 2,938,000 Labor and Benefits 18,581,400 1,339,200 979,300 20,899,900 Administrative Expenses 4,589,800 331,200 229,100 5,150,100 Materials and Maintenance 2,108,600 305,000 1,042,700 3,456,300 Subtotal - Operations Costs 27,474,500 2,544,300 2,425,500 32,444,300 Reserve Funding D Transfer to General Fund Reserve 1,286,400 1,371,800 196,100 2,854,300 #Expansion Reserve 3,638,000 455,600 - 4,093,600 B Betterment Reserve 2,280,000 835,200 351,200 3,466,400 R Replacement Reserve 464,500 - - 464,500 TOOPEB Trust 872,300 51,200 37,500 961,000 New Supply Reserve - 35,000 - 35,000 Subtotal - Reserve Funding 8,541,200 2,748,800 584,800 11,874,800 Total Expenditures 79,822,200 8,909,000 3,010,300 91,741,500 Excess Revenue (Expenditures)-$ -$ -$ -$ FY 2017 Operating Budget Summary by System 61 FY 2015 FY 2017 Actual Budget Actual* Budget $% Revenues and Fund Sources Potable Water Sales 70,281,989$ 69,783,700$ 65,413,157$ 72,238,600$ 2,454,900$ 3.5% Recycled Water Sales 8,853,010 9,116,000 8,527,042 8,900,300 (215,700) (2.4%) Sewer Revenues 3,009,634 3,206,300 3,149,295 2,918,900 (287,400) (9.0%) Meter Fees 90,246 66,200 78,568 66,200 - - Capacity Fee Revenues 1,312,108 1,134,800 1,517,128 1,248,200 113,400 10.0% Betterment Fee Revenues 188,123 - - - - - Tax Revenues 3,814,516 3,897,900 3,970,202 4,033,100 135,200 3.5% Non-Operating Revenues 2,404,375 1,873,600 2,434,865 2,179,300 305,700 16.3% Interest 128,599 157,500 124,502 156,900 (600) (0.4%) Transfers 553,800 - - - - - Total Revenues and 90,636,400 89,236,000 85,214,759 91,741,500 2,505,500 2.8% Fund Sources Expenditures and Fund Uses Potable Water Purchases 33,952,017 32,332,100 29,409,666 31,271,300 (1,060,800) (3.3%) Recycled Water Purchases 1,360,807 1,705,800 2,642,437 3,615,900 1,910,100 112.0% Fixed Charges 10,937,135 11,946,600 11,811,227 12,535,200 588,600 4.9% Power 3,048,335 3,112,800 2,697,915 2,938,000 (174,800) (5.6%) Labor and Benefits 19,406,815 20,381,000 20,337,890 20,899,900 518,900 2.5% Administrative Expenses 4,503,990 5,387,800 4,510,379 5,150,100 (237,700) (4.4%) Materials and Maintenance 3,339,777 3,612,800 3,103,175 3,456,300 (156,500) (4.3%) Transfers 12,955,800 10,757,100 10,757,100 11,874,800 1,117,700 10.4% Total Expenditures and 89,504,676 89,236,000 85,269,789 91,741,500 2,505,500 2.8% Fund Uses Excess Revenues/(Expenditures)1,131,724$ -$ (55,030)$ -$ -$ - General Fund Revenues, Expenditures and Transfers, in millions ($) FY 2016 Budget to Budget Variance General Fund - Revenues, Expenditures and Transfers $80 $82 $84 $86 $88 $90 $92 FY 2015-Actual FY 2016-Budget FY 2016-Actual FY 2017-Budget 91 89 85 92 90 89 85 92 Revenue Expenditures *Actual unaudited 62 Actual*Projected Balance Interfund Balance June 30, 2016 Revenues Expenditures Transfers (1)June 30, 2017 General Fund Potable 22,165,151$ 79,822,200$ 79,822,200$ -$ 22,165,151$ Recycled 1,380,004 8,909,000 8,909,000 - 1,380,004 Sewer 11,743 3,010,300 3,010,300 - 11,743 Total General Fund 23,556,898 91,741,500 91,741,500 - 23,556,898 Expansion Fund Potable and Recycled (2)3,272,004 2,596,700 5,224,300 4,359,600 5,004,004 Sewer 1,376,532 - - - 1,376,532 Total Expansion Fund 4,648,536 2,596,700 5,224,300 4,359,600 6,380,536 (3) Betterment Fund Potable (78,388) 795,600 2,224,800 2,280,000 772,412 Recycled 783,442 14,000 1,526,400 835,200 106,242 Sewer - 36,900 26,000 384,000 394,900 Total Betterment Fund 705,054 846,500 3,777,200 3,499,200 1,273,554 (3) Replacement Fund Potable 37,606,194 2,271,900 8,440,700 464,500 31,901,894 Recycled 13,266,524 99,400 198,000 (232,900) 12,935,024 Sewer (5,046,196) 101,700 1,585,000 (32,800) (6,562,296) Total Replacement Fund 45,826,522 2,473,000 10,223,700 198,800 38,274,622 New Supply Fund Potable 617,463 361,800 57,500 - 921,763 Recycled - 8,900 4,800 35,000 39,100 Sewer 5,025,373 - - - 5,025,373 Total New Supply Fund 5,642,836 370,700 62,300 35,000 5,986,236 (3) OPEB Fund - 962,100 961,000 - 1,100 (4) Debt Service Fund - 680,600 784,800 - (104,200) Total 80,379,846$ 99,671,100$ 112,774,800$ 8,092,600$ 75,368,746$ 7,947,230$ (1) The total for interfund transfers does not net to $0 because some transfers are already reflected in the Operating Revenues and Expenditures for General Fund as follows: Expansion Reserve (4,126,700)$ Betterment Reserve (3,466,400) Replacement Reserve (464,500) New Supply Reserve (35,000) Total (8,092,600)$ # (2) Potable and Recycled funds are combined for expansion purposes. (3) The fund balance is anticipated to change more than 10% due to the Districts ongoing current year CIP expenditures fund by current years revenues and prior years debt issuance proceeds, as well as transfers made in accordance with the Reserve Policy found on pages 197-226. (4) This is a planned reduction of this reserve to fund the PERS OPEB trust in accordance with the actuarial analysis, as well as fund salary and benefit cost in accordance with the Memorandum of Understanding with the labor union. Fiscal Year 2017 Budget Fund Balance Summary by Fund *Actual unaudited 63 FY 2015 FY 2017 Actual Budget Actual* Budget Revenues General Fund Potable 78,106,717$ 76,810,000$ 72,575,946$ 79,822,200$ Recycled 8,871,699 9,122,700 8,529,451 8,909,000 Sewer 3,657,984 3,303,300 4,109,364 3,010,300 Total General Fund (1)90,636,400 89,236,000 85,214,761 91,741,500 Expansion Fund Potable 2,024,914 1,712,500 2,137,632 2,483,300 Recycled 186,149 103,300 145,516 113,400 Sewer 150 100 12,531 - Total Expansion Fund 2,211,213 1,815,900 2,295,679 2,596,700 Betterment Fund Potable 1,131,615 805,500 405,789 795,600 Recycled 5,615 6,900 69,189 14,000 Sewer 36,137 34,000 - 36,900 Total Betterment Fund 1,173,367 846,400 474,978 846,500 Replacement Fund Potable 2,184,797 3,304,300 4,218,081 2,271,900 Recycled 229,351 48,500 157,197 99,400 Sewer 100,357 89,800 110,157 101,700 Total Replacement Fund 2,514,505 3,442,600 4,485,435 2,473,000 New Supply Fund Potable 383,063 259,900 446,575 361,800 Recycled 37,198 1,400 1,500 8,900 Sewer - - 218,925 - Total New Supply Fund 420,261 261,300 667,000 370,700 OPEB Fund 551,486 914,200 921,217 962,100 Debt Service Fund 730,154 757,100 741,226 680,600 Total Revenues 98,237,386$ 97,273,500$ 94,800,296 99,671,100$ 4,400,631$ 3,436,745$ Revenues and Expenditures by Fund FY 2016 *Actual unaudited 64 FY 2015 FY 2017 Actual Budget Actual* Budget Revenues and Expenditures by Fund FY 2016 Expenditures General Fund Potable 77,332,582$ 76,810,000$ 71,591,041$ 79,822,200$ Recycled 8,871,699 9,122,700 8,529,451 8,909,000 Sewer 3,657,984 3,303,300 4,109,364 3,010,300 Total General Fund 89,862,265 89,236,000 84,229,856 91,741,500 Expansion Fund Potable 4,541,070 4,469,300 4,659,221 4,112,200 Recycled 1,078,373 1,274,900 4,528 1,112,100 Sewer 7,510 - 395,319 - Total Expansion Fund 5,626,953 5,744,200 5,059,068 5,224,300 Betterment Fund Potable 2,594,998 3,759,500 3,740,543 2,224,800 Recycled 518,356 753,400 255,762 1,526,400 Sewer 214,301 251,000 - 26,000 Total Betterment Fund 3,327,655 4,763,900 3,996,305 3,777,200 Replacement Fund Potable 6,879,734 7,175,800 7,112,872 8,440,700 Recycled 523,696 870,100 912,094 198,000 Sewer 1,376,978 1,520,000 1,072,335 1,585,000 Total Replacement Fund 8,780,408 9,565,900 9,097,301 10,223,700 New Supply Fund Potable 350,165 177,500 152,213 57,500 Recycled 89,055 4,800 - 4,800 Sewer - - 735,874 - Total New Supply Fund 439,220 182,300 888,087 62,300 OPEB Fund 831,057 914,100 826,291 961,000 Debt Reserve Fund 13,650,886 750,100 749,263 784,800 Total Expenditures 122,518,444 111,156,500 104,846,171 112,774,800 Surplus/(Deficit)(24,281,058)$ (13,883,000)$ (10,045,875) (13,103,700)$ *Actual unaudited 65 FY 2015 FY 2017 Actual Budget Actual* Budget Revenues and Fund Sources Water Sales 79,134,999$ 78,899,700$ 73,940,199$ 81,138,900$ Sewer Revenues 3,009,634 3,206,300 3,149,295 2,918,900 Meter Fees 90,246 66,200 78,568 66,200 Capacity Fee Revenues 1,312,108 1,134,800 1,517,128 1,248,200 Betterment Fee Revenues 309,510 - - - Capacity Fees for Maintenance 4,346,177 2,862,000 4,975,067 4,261,200 Betterment Fees for Maintenance 188,123 - - - Tax Revenues 3,814,516 3,897,900 3,970,202 4,033,100 Availability Fees 477,137 473,000 114,940 484,200 Non-Operating Revenues 2,404,375 1,873,600 2,434,865 2,179,300 GO Bond Debt Tax Revenues 1,453,756 722,800 1,475,424 640,400 Sewer Debt Tax Revenues - 1,000 - 1,000 COPs Proceeds 770,400 770,200 770,200 828,100 CALTRANS Reimbursement - 1,845,100 1,510,976 255,000 Interest 131,875 162,800 128,015 654,500 Interfund Transfer 653,279 1,006,100 1,013,414 962,100 Total Revenue and Fund Sources 98,096,135 96,921,500 95,078,293 99,671,100 Expenditures and Fund Uses Water Purchases 46,249,959 45,984,500 43,863,330 47,422,400 Power 3,048,335 3,112,800 2,697,915 2,938,000 Labor Expenses 19,406,815 20,381,000 20,337,890 20,899,900 Administrative Expenses 4,503,990 5,387,800 4,510,379 5,150,100 Materials and Maintenance 3,339,777 3,612,800 3,103,175 3,456,300 CIP Expenses 11,051,731 12,505,000 12,198,933 12,033,100 Debt Service 7,701,000 8,532,000 7,744,576 8,039,200 OPEB Retiree Health Expenses 929,113 1,006,000 909,415 961,000 Interfund Transfers 12,955,800 10,757,100 10,757,100 11,874,800 Total Expenditures and Fund Uses 109,186,520 111,279,000 106,122,713 112,774,800 Surplus/(Deficit)(11,090,385)$ (14,357,500)$ (11,044,420)$ (13,103,700)$ Revenues and Expenditures by Type - All Funds FY 2016 Note: Consistent with the District's financing plan, the 2010 debt proceeds along with District reserves have been used to fund capital projects, resulting in the expected deficits in Fiscal Years 2015 and 2016 shown above. *Actual unaudited 66 Five-Year Forecast – FY 2018 through FY 2022 The District updates its Rate Model to build the budget for the upcoming fiscal year and to forecast the five subsequent years. This financial forecast is designed to provide a general understanding of how revenues and expenditures are expected to influence the District and is reviewed in relation to its effect on funding capital projects and reserve levels. Estimates for growth, water costs, and others such as rainfall, and average water consumption per customer, are used throughout the Rate Model to calculate various revenue and expense amounts in each year. The Engineering Department is primarily responsible for the growth estimates as described in the budget overview on page 10. Water cost estimates are obtained from District water suppliers, CWA and MWD, and power cost inflators from San Diego Gas and Electric, the District power supplier. Labor and benefit cost inflators are based on the Memorandum of Understanding with the District’s labor union, estimates from the District’s health providers, as well as actuarial reports from the District’s pension providers. Other general inflators are derived from statistical data from consumer price indexes for the region. The District must look at building new infrastructure to service the needs of its customers. The CIP Master Plan looks at the service needs of all customers over the next six years and at the betterment and expansion needs from now until ultimate build-out. The capital projects and the funding for them are reviewed annually by the Engineering Department. As new capital assets are brought into service, they are managed by a GIS-centric Asset Management System, CityWorks, which is crucial to tracking and maintaining the history of 726 miles of potable pipelines, 102 miles of recycled pipelines, 88 miles of sewer mains, 40 potable and 4 recycled reservoirs, 21 potable and 3 recycled pump stations, and a 1.3 million gallons per day reclamation plant. Utilizing an integrated database from the Geographic Information System (GIS) provides real-time work order planning, execution, and consolidation of all maintenance history. These systems are also integrated with financial software to allow asset tracking and management information. As the systems are further developed, the District will be able to better anticipate operating costs associated with the capital projects. The impact of the CIPs on the Operating Budget is addressed in the CIP section of this budget. Projected Cost of Water The projected cost of water is based on CWA’s Rate Modeling Program. This CWA program evaluates many options of the Regional Water Facilities Master Plan, which determines the most feasible projects for water resources and incorporates these decisions into CWA’s Capital Improvement Program. This cost is also based on CWA’s estimated water cost for purchases from MWD and the Imperial Irrigation District (IID). $- $500 $1,000 $1,500 $2,000 $2,500 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 $1,691 $1,841 $1,951 $2,068 $2,191 $2,322 Pe r A c r e F o o t Projected Cost of Water 67 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Revenues Water/Sewer Rates 88,571,900$ 93,172,600$ 97,691,700$ 102,641,300$ 107,891,800$ Meter Fees 70,200 73,400 75,400 78,500 82,000 Capacity Fee Revenues 1,254,400 1,266,900 1,279,600 1,292,400 1,305,300 Non-operating Revenues 2,203,100 2,023,200 2,045,100 2,073,500 2,102,400 Tax Revenues 4,104,200 4,178,300 4,256,300 4,337,500 4,420,500 Interest Income 204,500 258,500 294,300 333,800 377,100 Total Revenues 96,408,300 100,972,900 105,642,400 110,757,000 116,179,100 32,358,500$ 31,958,100$ 31,745,900$ 32,150,700$ FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Expenditures Water Cost 51,707,100 55,094,200 58,881,400 63,211,400 67,866,400 Power 3,080,200 3,217,300 3,371,500 3,543,900 3,729,200 Labor and Benefits 21,260,300 21,627,700 21,974,600 22,306,600 22,645,300 Administrative Expenses 4,989,500 5,145,100 5,395,500 5,486,500 5,644,300 Materials & Maintenance 3,538,400 3,681,800 3,831,000 3,986,300 4,148,100 Net Reserve Funding 11,832,800 12,206,800 12,188,400 12,222,300 12,145,800 Total Expenditures and Transfers 96,408,300 100,972,900 105,642,400 110,757,000 116,179,100 Excess Revenues (Expenditures)-$ -$ -$ -$ -$ -$ -$ -$ -$ -$ General Fund Forecast - FY 2018 Through FY 2022 This forecast incorporates both cost increases for expenditures and rate increases for revenues, as well as growth projections. Revenues Expenditures and Transfers $0 $20 $40 $60 $80 $100 $120 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 96 10 1 10 6 11 1 11 6 $9 6 $1 0 1 $1 0 6 $1 1 1 $1 1 6 Revenues and Expenditures Forecast, in millions ($) Revenues Expenditures 68 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Fund Balance General Fund 21,148,800$ 22,199,600$ 23,374,200$ 24,647,500$ 26,020,700$ Betterment Fund 1,541,300 701,800 464,800 1,552,500 1,552,700 Replacement Fund 42,732,300 33,255,300 37,543,900 43,057,200 49,715,000 Expansion Fund 388,500 526,400 494,900 502,300 504,100 New Supply Fund 1,574,800 2,546,100 3,774,900 5,190,400 6,805,400 Debt Reserve 4,477,600 4,410,900 4,320,900 4,256,400 4,162,400 Total Fund Balance 71,863,300$ 63,640,100$ 69,973,600$ 79,206,300$ 88,760,300$ (124,471) (125,111) (125,654) (126,539) (127,325) Fund Balances - FY 2018 Through FY 2022 Fund Balances by Fund $0 $20 $40 $60 $80 $100 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Fund Balances Forecast, in millions ($) General Fund Betterment Fund Replacement Fund Expansion Fund Debt Reserve New Supply Fund 69 Debt Management The District has been successful in financing capital improvements through a combination of long- term and short-term financing plans. Financial tools used include General Obligation Bonds, Certificates of Participation (COPs), Build America Bonds (BABs), developer fees, and pay-as-you-go funding. The District’s primary debt management objective is to keep the level of indebtedness within available resources and within limits that will allow the District to meet the debt service coverage ratios required by the bond covenant. Bonds have been and will be used to improve existing facilities and to build the projects in the Capital Improvement Program (CIP). The District’s debt service obligations have a significant effect upon the District’s current and future water rates. All efforts that minimize the cost of debt have a corresponding effect that reduces water rates. In April, 2016, Standard & Poor’s (S&P) affirmed the District’s AA rating and stable outlook. The rating was based on the broad and diverse service area, strong financial risk profile, and good operational management policies and practices. 711-1 Reservoir (3.1 MG) – Exterior Wrapping 70 Debt Management The District achieved a 171% actual debt coverage ratio, including growth revenues, for fiscal year 2016, which exceeded the debt covenant minimum ratio of 125%. To meet the bond indebtedness obligation and maintain stable rates, the rate model is used to forecast revenues and operating requirements. In the next six years, the District does not anticipate the need to issue new debt and expects the District’s financial performance to yield strong levels prior to any debt issued. The chart below shows the District’s projected debt coverage ratio from FY 2017 through FY 2022. The debt coverage ratios are growing as rates are set to ensure adequate funding of the reserves. The District’s Board of Directors believes that a strong debt coverage ratio will benefit the ratepayers as it reduces the cost of water infrastructure; and therefore have been willing to support this with necessary rate increases. The District has projected a schedule of rate increases designed to generate sufficient revenue to pay off existing and planned future debt issues. See the Policies section of the budget for the District’s complete Debt Policy. Projected Debt Coverage Ratio 1.96 2.40 2.80 3.12 3.36 3.54 - 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Co v e r a g e R a t i o Projected Ratio Minimum Ratio = 1.25 71 Outstanding Year Maturity Original Balance # Incurred Description Date Amount 6/30/2017 1 1996 Certificates of Participation (COPs)September 1, 2026 15,400,000$ 8,200,000$ 2 2009 General Obligation (GO) Bonds August 31, 2022 7,780,000 3,995,000 3 2010 Certificates of Participation Series A (COPs)September 1, 2024 13,840,000 8,820,000 4 2010 Build America Bonds Series B (BABs)September 1, 2040 36,355,000 36,355,000 5 2013 Water Revenue Refunding Bonds (1)September 1, 2023 7,735,000 5,220,000 6 2016 Water Revenue Refunding Bonds (2)September 1, 2036 33,385,000 32,185,000 Total Outstanding Debt 114,495,000$ 94,775,000$ Total Assessed Valuation - FY 2016 Percentage of Original Debt to Assessed Valuation 0.44%0.07% Debt Limit per District Debt Policy (% of Assessed Valuation)15.00%15.00% (1)The 2013 Water Revenue Refunding Bonds were an advanced refunding of the 2004 COPs, which was a refunding of the 1993 COPs. (2)The 2016 Water Revenue Refunding Bonds were an advanced refunding of the 2007 COPs. 26,057,698,553$ 11,904,159,221$ Schedule of Outstanding Debt All Debts GO Bonds Total Outstanding Debt, in millions ($) Note: The accounting for debt proceeds and payments is described in the District's Reserve Policy found on pages 197-224. $0 $15 $30 $45 $60 $75 $90 1996 COPs 2009 GOBs 2010A COPs 2010B BABs 2013 WRRBs 2016 WRRBs Principal Interest 72 1996 COPs 2009 GOBs 2010A COPs 2010B BABs 2013 WRRBs(1)2016 WRRBs(2)Total 600,000$ 605,000$ 940,000$ -$ 660,000$ 1,015,000$ 3,820,000$ 700,000 635,000 975,000 - 685,000 1,045,000 4,040,000 700,000 650,000 1,015,000 - 715,000 1,100,000 4,180,000 700,000 680,000 1,065,000 - 745,000 1,155,000 4,345,000 800,000 705,000 1,120,000 - 775,000 1,215,000 4,615,000 800,000 720,000 1,175,000 - 805,000 1,285,000 4,785,000 900,000 - 1,235,000 - 835,000 1,350,000 4,320,000 900,000 - 1,295,000 - - 1,420,000 3,615,000 1,000,000 - - 1,365,000 - 1,495,000 3,860,000 1,100,000 - - 1,450,000 - 1,570,000 4,120,000 - - - 1,545,000 - 1,645,000 3,190,000 - - - 1,640,000 - 1,715,000 3,355,000 - - - 1,745,000 - 1,785,000 3,530,000 - - - 1,855,000 - 1,855,000 3,710,000 - - - 1,975,000 - 1,955,000 3,930,000 - - - 2,105,000 - 2,005,000 4,110,000 - - - 2,245,000 - 2,055,000 4,300,000 - - - 2,390,000 - 2,115,000 4,505,000 - - - 2,550,000 - 2,170,000 4,720,000 - - - 2,715,000 - 2,235,000 4,950,000 - - - 2,895,000 - - 2,895,000 - - - 3,085,000 - - 3,085,000 - - - 3,290,000 - - 3,290,000 - - - 3,505,000 - - 3,505,000 8,200,000$ 3,995,000$ 8,820,000$ 36,355,000$ 5,220,000$ 32,185,000$ 94,775,000$ (1)The 2013 Water Revenue Refunding Bonds were an advanced refunding of the 2004 COPs, which was a refunding of the 1993 COPs. (2)The 2016 Water Revenue Refunding Bonds were an advanced refunding of the 2007 COPs. 2041 Total Combined Debt Service through Maturity, in millions ($) 2035 2036 2037 2038 2039 2040 2029 2030 2031 2032 2033 2034 2023 2024 2025 2026 2027 2028 2018 2019 2020 2021 2022 Projected Principal Payments by Debt Issuance FY $0 $1 $2 $3 $4 $5 $6 $7 $8 $9 20 1 8 20 1 9 20 2 0 20 2 1 20 2 2 20 2 3 20 2 4 20 2 5 20 2 6 20 2 7 20 2 8 20 2 9 20 3 0 20 3 1 20 3 2 20 3 3 20 3 4 20 3 5 20 3 6 20 3 7 20 3 8 20 3 9 20 4 0 20 4 1 Interest Principal 73 1996 COPs (1)2009 GOBs 2010A COPs 2010B BABs 2013 WRRBs(2)2016 WRRBs(3)Total 38,500$ 139,633$ 393,754$ 2,371,868$ 186,800$ 1,204,656$ 4,335,211$ 35,083 114,433 354,988 2,371,868 159,567 1,156,040 4,191,979 31,583 88,533 306,196 2,371,868 131,167 1,101,498 4,030,845 28,083 61,533 253,363 2,371,868 101,567 1,044,206 3,860,620 24,167 33,500 197,821 2,371,868 70,767 983,956 3,682,079 20,167 4,800 139,529 2,371,868 38,767 920,290 3,495,421 15,750 - 78,279 2,371,868 5,567 853,331 3,324,795 11,250 - 11,331 2,371,868 - 782,915 3,177,364 6,333 - - 2,299,330 - 708,790 3,014,453 917 - - 2,207,767 - 630,915 2,839,599 - - - 2,110,252 - 562,998 2,673,250 - - - 2,006,679 - 494,865 2,501,544 - - - 1,896,516 - 423,931 2,320,447 - - - 1,779,392 - 350,198 2,129,590 - - - 1,651,430 - 297,102 1,948,532 - - - 1,514,409 - 247,185 1,761,594 - - - 1,368,290 - 193,878 1,562,168 - - - 1,212,689 - 136,419 1,349,108 - - - 1,046,730 - 76,996 1,123,726 - - - 869,973 - 11,175 881,148 - - - 681,541 - - 681,541 - - - 480,724 - - 480,724 - - - 266,587 - - 266,587 - - - 38,421 - - 38,421 211,833$ 442,432$ 1,735,261$ 40,405,674$ 694,202$ 12,181,344$ 55,670,746$ (1)Interest on the 1996 Certificates of Participation is variable and is projected using an interest rate of .5%. (2)The 2013 Water Revenue Refunding Bonds were an advanced refunding of the 2004 COPs, which was a refunding of the 1993 COPs. (3)The 2016 Water Revenue Refunding Bonds were an advanced refunding of the 2007 COPs. 2041 Total 2035 2036 2037 2038 2039 2040 2029 2030 2031 2032 2033 2034 2023 2024 2025 2026 2027 2028 2018 2019 2020 2021 2022 Projected Interest Payments by Debt Issuance FY 74 Potable Revenues and Expenditures Potable Revenues The District will provide water service to approximately 49,496 potable customers by the end of Fiscal Year 2017. Ninety-one percent of the potable customers are residential and the remaining nine percent are comprised of multi-residential, publicly-owned, commercial, agricultural, landscaping, and construction. With the decline in residential developments in recent years, the District expects only nominal growth of 0.33% for Fiscal Year 2017. Unit sales are anticipated to decrease 7.7% compared to the previous year's budget, and increase by 3.8% versus the previous year’s actual unit sales. Water rates vary among the customer classifications. The water rates for all customers are based on an accelerated block structure; as more units are consumed, a higher unit rate is charged on units sold in the top tiers. These unit sales represent approximately 61.4% of the water sales budget. Other revenue sources include: system charges, energy charges, penalties, and other pass-through charges from the San Diego County Water Authority (CWA) and the Metropolitan Water District (MWD). All customers are required to pay fixed monthly fees, the MWD and CWA fixed charge, and the District system fee. These fixed charges are based on meter size. These fees recover 30% of the potable water sales revenue. Water rates, energy fees, and penalties recover the remaining 70% of revenues necessary to fund operations. (Note: When potable and recycled revenues are combined the fixed fees do not exceed 30% of the total revenues.) Energy charges are based on the quantity of water used and the elevation to which the water has been lifted to provide service. Energy charges are set so as to recover the power costs associated with pumping. This charge is adjusted based on an annual review of these costs to ensure that sufficient revenue is collected to offset pumping costs. Penalties are charged to the District customer accounts when payments are delinquent. These penalty revenues are budgeted based on historical trends. 944-1 (0.3 MG) Reservoir - Jamul, California 75 Potable Revenues and Expenditures Potable Expenditures In Fiscal Year 2017, the District estimates to purchase 29,912.3 acre-feet of potable water, sufficient to meet the demands of its customers. Provisions have been made for District usage, leakage, and evaporation in the amount of 1,103.1 acre-feet. Today, the District purchases 100% of its potable water from the San Diego County Water Authority; however, in the past the District purchased only treated water through the CWA’s treated water pipeline. In 2006, to diversify the water supply and to become less reliant on treated water from outside the region, Otay entered an agreement to purchase 10,000 acre-feet of raw water treated by neighboring Helix Water District at their Levy Water Treatment Plant. This raw water comes into the region through a CWA raw water pipeline which gives the District redundancy in water supply. The reliability is necessary to ensure water deliveries can continue in an emergency situation such as earthquakes or other natural disasters. The District’s agreement also brings regional water treatment closer to our customers, which reduces dependence on water treatment facilities located outside of San Diego County. Flow Control Facility No. 14 connects the Helix Water District to Otay Water District through approximately 5 miles of 36” pipeline. Although the District does not own a direct water supply reservoir that captures surface water, there are cooperative agreements between CWA and the other member agencies to manage water demands and supply the region in times of need. The reservoirs of member agencies and CWA serve multiple functions including: surface water capture, seasonal shift water storage, carryover storage, local sources of emergency water supplies, system capacity buffers during peak demand periods, and adds a level of security for short and long‐ term emergency situations. The location of each reservoir, as shown on page 60, effects the extent to which it can perform the various functions, as does the individual agencies’ operational plan implemented at each location. 711-1 Reservoir (3.1 MG) – Remove and replace deteriorating reservoir coating 76 Potable Revenues and Expenditures The San Diego County Water Authority purchases water for the County of San Diego from MWD and the Imperial Irrigation District (IID). Any cost increases by CWA, MWD, or IID impacts the District's water purchases and directly affects the District's fees, rates, and service charges. The Carlsbad Desalination Plant began commercial operations in December 2015 and is the largest seawater desalination plant in the nation. It is anticipated to meet 7-10% of the region’s water demand. 2011-2015 Five-Year Average Water Supply 77 FY 2015 FY 2016 FY 2017 11-Actual Budget Actual * Budget $% Revenues ##Water Sales 70,281,989$ 69,783,700$ 65,413,157$ 72,238,600$ 2,454,900$ 3.5% ##Meter Fees 86,165 65,800 76,366 65,800 - - ##Capacity Fee Revenues 1,304,598 1,134,800 1,512,600 1,248,200 113,400 10.0% ##Betterment Fees for Maintenance 188,123 - - - - - Tax Revenues 3,769,963 3,846,300 3,897,734 3,981,500 135,200 3.5% ##Non-operating Revenues 2,370,615 1,836,400 1,553,316 2,143,800 307,400 16.7% ##Interest 105,264 143,000 122,772 144,300 1,300 0.9% Total Revenues 78,106,717 76,810,000 72,575,945 79,822,200 3,012,200 3.9% Expenditures Potable Water Purchases 33,952,017 32,332,100 29,409,666 31,271,300 (1,060,800) (3.3%) ##CWA - Infrastructure Access Charge 1,900,266 1,931,400 1,930,848 1,976,400 45,000 2.3% ##CWA - Customer Service Charge 1,796,853 1,777,800 1,778,197 1,714,200 (63,600) (3.6%) ##CWA - Reliability Charge - 950,400 950,052 1,848,000 897,600 94.4% ##CWA - Emergency Storage Charge 4,720,701 4,681,800 4,681,673 4,579,800 (102,000) (2.2%) ##MWD - Capacity Reservation Charge 701,976 806,400 883,203 988,800 182,400 22.6% ##MWD-Net RTS and Standby Charges 1,817,339 1,798,800 1,587,254 1,428,000 (370,800) (20.6%) Subtotal - Water Costs 44,889,152 44,278,700 41,220,893 43,806,500 (472,200) (1.1%) ##Power 2,280,061 2,372,400 2,017,258 2,194,700 (177,700) (7.5%) ##Labor and Benefits 17,383,737 18,518,100 18,165,431 18,581,400 63,300 0.3% ##Administrative Expenses 4,040,636 4,865,200 3,903,470 4,589,800 (275,400) (5.7%) ##Materials and Maintenance 1,743,396 2,168,300 1,676,689 2,108,600 (59,700) (2.8%) 11-Subtotal - Operations Costs 25,447,830 27,924,000 25,762,848 27,474,500 (449,500) (1.6%) DS Transfer to General Fund Reserve - - - 1,286,400 1,286,400 100.0% ##Expansion Reserve - - - 3,638,000 3,638,000 100.0% Bet Betterment Reserve 2,805,000 - - 2,280,000 2,280,000 100.0% RepReplacement Reserve 675,000 2,493,900 2,493,900 464,500 (2,029,400) (81.4%) swr Transfer to Sewer General Fund 553,800 - - - - - TO Transfer to OPEB 546,000 914,100 914,100 872,300 (41,800) (4.6%) GF Transfer to Potable General Fund 1,583,800 - - - - Sw Transfer to Sewer Replacement 127,000 1,199,300 1,199,300 - (1,199,300) (100.0%) NS Transfer to New Supply Fund 705,000 - - - - - Subtotal - Reserve Funding 6,995,600 4,607,300 4,607,300 8,541,200 3,933,900 85.4% Total Expenditures 77,332,582 76,810,000 71,591,041 79,822,200 3,012,200 3.9% Excess Revenues (Expenditures)774,135$ -$ 984,904$ -$ -$ - Operating Budget Summary - Potable Budget to Budget VarianceFY 2016 * Actual unaudited78 FY 2015 FY 2017 Actual Budget Actual*Budget $ % Water Sales 44,025,774$ 41,344,900$ 37,243,504$ 44,450,600$ 3,105,700$ 7.5% System Fees 12,380,370 13,292,300 13,391,005 12,204,600 (1,087,700) -8.2% Energy Fees 2,134,865 2,311,300 2,151,538 2,164,200 (147,100) -6.4% MWD and CWA Fixed Fees 10,846,411 11,946,600 11,850,407 12,535,200 588,600 4.9% Penalties 894,569 888,600 776,703 884,000 (4,600) -0.5%-$ #DIV/0! Total Water Sales 70,281,989$ 69,783,700$ 65,413,157$ 72,238,600$ 2,454,900$ 3.5% Water Sales 44,450,600$ 61.4% System Fees 12,204,600 16.9% Energy Fees 2,164,200 3.0% MWD and CWA Fixed Fees 12,535,200 17.4% Penalties 884,000 1.3% Total Water Sales 72,238,600$ 100.0% Water Sales: Water rates vary among classes of service and are charged per unit of water. A unit of water is equal to 100 cubic feet of water. On January 1, 2009, the District implemented a tiered rate structure for all customer types to encourage conservation and bring equity among the classes. System Fees: Each water service customer pays a monthly system charge for water system replacement, maintenance, and operation expenses. The charge is based on the size of the meter. Energy Fees: The energy pumping fee is $ .044 per 100 cubic feet of water for each 100 feet of lift above the elevation of 450 feet. All water customers are in one of 29 zones based on elevation. MWD and CWA Fixed Fees: These pass-through charges are calculated to recover the MWD's and CWA's fixed annual costs including the construction, operation and maintenance of aqueducts, and emergency storage projects. These fixed charges are based on the size of the meter. Penalties: Charges and penalties are imposed on customer accounts for late payments and returned checks. Classification of Water Sales - Potable Budget to Budget Variance FY 2017 Classification of Water Sales FY 2016 *Actual unaudited 79 Current Approved Accounts Unit Sales Budget Residential 45,102 6,064,600 23,445,900$ Conservation Tier (< 5 hcf)2.13$ 2.53$ 6 - 10 3.32 3.95 11 - 22 4.32 5.13 over 23 hcf 6.65 7.90 Multi-Residential 822 1,449,400 6,016,400 0 - 43.28 3.90 5 - 94.25 5.05 over 10 hcf 6.56 7.80 Public and Commercial 1,459 1,860,400 7,152,100 Tier I3.51 4.17 Tier II 3.56 4.23 Tier III 3.62 4.30 Agriculture, Landscaping, and Construction 1,350 1,432,600 7,430,000 Tier I4.78 5.68 Tier II 4.83 5.74 Tier III 4.89 5.81 Total 48,733 10,807,000 44,044,400$ Government Fee 0.37 0.41 - - 406,200 Total Water Sales 48,733 10,807,000 44,450,600$ Units % Residential 6,064,600 60.0% Multi-Residential 1,449,400 10.0% Public and Commercial 1,860,400 20.0% Agricultural, Landscaping & Construction 1,432,600 10.0% Total Water Sales 10,807,000 100.0% Water Sales Summary by Service Class - Potable FY 2017 FY 2017 Unit Sales by Service Class (1) Approved rates for water billed beginning in January 2017. Water Rates (1) 80 FY 2013 FY 2014 FY 2015 FY 2017 Budget Actual Budget Residential 7,836,873 8,050,828 7,248,930 6,954,400 5,832,549 6,064,600 Multi-Residential 1,495,057 1,536,902 1,482,502 1,326,700 1,417,211 1,449,400 Public and Commercial 2,031,253 2,056,075 2,049,294 1,802,500 1,827,965 1,860,400 Agricultural and Landscaping 1,723,839 1,931,856 1,795,230 1,529,900 1,221,929 1,278,200 Temporary and Fire Services 102,020 144,458 168,469 90,600 175,636 154,400 Total Unit Sales 13,189,042 13,720,119 12,744,425 11,704,100 10,475,290 10,807,000 FY 2013 FY 2014 FY 2015 FY 2017 Budget Actual Budget Residential 44,670 44,826 44,941 45,025 45,038 45,102 Multi-Residential 800 798 806 862 817 822 Public and Commercial 1,493 1,449 1,453 1,470 1,455 1,459 Agricultural and Landscaping 1,227 1,229 1,227 1,228 1,231 1,231 Temporary and Fire Services 772 846 881 869 884 882 Total Meter Count 48,962 49,148 49,308 49,454 49,425 49,496 Unit Sales History and Meter Count by Customer Class - Potable Unit Sales in thousands and Meter Count Trends FY 2016 FY 2016 Actual Actual 5,000 15,000 25,000 35,000 45,000 55,000 - 5,000 10,000 15,000 20,000 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget Potable Meters Potable Unit Sales Units Meters 81 FY 2017 FY 2016 FY 2017 Meter Size Count Current Approved Budget Budget $% All Service Types 0.75 43,788 18.91$ 15.91$ 10,046,600$ 9,138,300$ (908,300)$ -9.0% 1.00 2,595 26.71 22.47 789,800 765,700 (24,100) -3.1% 1.50 948 46.22 38.88 527,800 483,800 (44,000) -8.3% 2.00 1,097 69.61 58.55 915,400 839,900 (75,500) -8.2% 3.00 80 132.02 111.04 118,800 115,300 (3,500) -2.9% 4.00 197 202.24 170.10 450,000 434,700 (15,300) -3.4% 6.00 20 397.31 334.18 77,300 87,800 10,500 13.6% 8.00 3 631.37 531.05 23,000 20,900 (2,100) -9.1% 10.00 5 904.44 760.72 55,000 50,000 (5,000) -9.1% Sub-total 48,733 13,003,700 11,936,400 (1,067,300) -8.2% Fire Services 0.63 709 24.69 20.77 207,300 193,400 (13,900) -6.7% 0.75 12 24.69 20.77 2,700 3,300 600 22.2% 1.00 26 24.69 20.77 7,800 7,100 (700) -9.0% 2.00 16 24.69 20.77 4,800 4,400 (400) -8.3% 3.00 - 24.69 20.77 - - - 4.00 - 33.27 27.98 - - - 10.00 - 33.27 27.98 - - - Sub-total 763 222,600 208,200 (14,400) -6.5% Turn Over Fees 10.00 10.00 66,000 60,000 (6,000) Total 49,496 13,292,300$ 12,204,600$ (1,087,700)$ -8.2% (1) Approved rates for water billed beginning in January 2017. System Fees - Potable Historical System Fees, in millions ($) Budget to Budget VarianceSystem Fees $- $5 $10 $15 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget (1) 82 FY 2017 FY 2016 FY 2017 Meter Size Count Current Approved Budget Budget $% 0.75 43,781 16.84$ 15.00$ 8,004,300$ 8,356,300$ 352,000$ 4.4% 1.00 2,587 31.24 27.84 873,300 917,000 43,700 5.0% 1.50 943 70.66 62.96 717,800 755,600 37,800 5.3% 2.00 1,095 120.17 107.08 1,414,600 1,486,600 72,000 5.1% 3.00 80 255.60 227.75 208,800 229,300 20,500 9.8% 4.00 102 409.32 364.72 432,200 462,700 30,500 7.1% 6.00 18 837.89 746.59 145,700 171,100 25,400 17.4% 8.00 3 1,353.09 1,205.65 44,100 46,100 2,000 4.5% 10.00 5 1,947.62 1,735.39 105,800 110,500 4,700 4.4% Total 48,614 11,946,600$ 12,535,200$ 588,600$ 4.9% (1) Construction Meters, Fire Services, and Recycled Meters are exempt from MWD and CWA Fixed Fees. (2) Approved rates for water billed beginning in January 2017. Historical MWD and CWA Fixed Fees, in millions ($) Budget to Budget Variance MWD and CWA Fixed Fees (Pass-Through) - Potable MWD and CWA Fixed Fees $- $2 $4 $6 $8 $10 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget (1)(2) 83 Meter Size Meter Sales Installation Fee Meter Fee Total Fees Budget 0.75 97 103.90$ 218.94$ 322.84$ 31,300$ 1.00 - 103.90 282.52 386.42 - 1.50 1 103.90 459.21 563.11 600 2.00 10 103.90 658.00 761.90 7,600 3.00 2 625.55 2,050.60 2,676.15 5,400 4.00 5 625.55 3,561.56 4,187.11 20,900 6.00 - 988.10 6,151.79 7,139.89 - 8.00 - 1,515.16 7,686.20 9,201.36 - 10.00 - 1,515.16 11,054.19 12,569.35 - Total 115 65,800$ Meter Fees - Potable Meter Fees:Charges collected for new water service connections. Fees vary depending upon meter size and type of service. The costs associated with meter installations are included in the Operating Expenses section of the budget. These charges are funded by developers. Historical Meter Count FY 2017 - 15,000 30,000 45,000 60,000 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget 84 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016*FY 2017 Budget Water Sales 35,615,558$ 40,845,630$ 46,856,253$ 44,025,774$ 37,243,504$ 44,450,600$ System Fees 9,583,563 10,315,199 11,152,291 12,380,370 13,391,005 12,204,600 Energy Fees 1,881,776 1,964,062 2,114,844 2,134,865 2,151,538 2,164,200 MWD and CWA Fixed Fees 9,000,267 9,747,977 10,309,983 10,846,411 11,850,407 12,535,200 Penalties 703,081 796,426 839,025 894,569 776,703 884,000 Total Potable Revenues 56,784,245$ 63,669,294$ 71,272,396$ 70,281,989$ 65,413,157$ 72,238,600$ Revenue History - Potable, in millions ($) Revenue History - Potable Actual $- $20 $40 $60 $80 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget Water Sales System Fees Energy Fees MWD & CWA Fixed Fees Penalties *Actual unaudited 85 FY 2017 FY 2017 Budget Actual Budget Budget Actual* Budget $ % Potable Water Purchases (CWA): Rate Effective January 1,165.00$ 1,165.00$ 1,255.00$ 90$ 7.7% Budgeted Sales 26,868.7 24,048.2 24,809.2 30,968,000$ 27,755,198 29,940,200$ (1,027,800)$ -3.3% District & Unbilled Usage**61.2 75.6 66.6 70,800 87,254 80,200 9,400 13.3% Water Loss 1,122.1 1,376.9 1,036.5 1,293,300 1,567,214 1,250,900 (42,400) -3.3% Total Variable Charges 28,052.0 25,500.7 25,912.3 32,332,100$ 29,409,666$ 31,271,300$ (1,060,800) -3.3% CWA and MWD Fixed Charges: CWA - Infrastructure Access Charge 1,931,400$ 1,930,848$ 1,976,400$ 45,000$ 2.3% CWA - Customer Service Charge 1,777,800 1,778,197 1,714,200 (63,600) -3.6% CWA - Emergency Storage Charge 4,681,800 4,681,673 4,579,800 (102,000) -2.2% CWA - Reliability Fixed Charge 950,400 950,052 1,848,000 897,600 94.4% MWD - Capacity Reservation Charge 806,400 883,203 988,800 182,400 22.6% MWD - Readiness-to-Serve Charge 1,798,800 1,587,254 1,428,000 (370,800) -20.6% Total Fixed Charges 11,946,600$ 11,811,227$ 12,535,200$ 588,600$ 4.9% Total Variable and Fixed Charges 44,278,700$ 41,220,893$ 43,806,500$ (472,200)$ -1.1% Average Cost Per Acre-Foot 1,578$ 1,616$ 1,691$ *Actual unaudited ** Excludes potable supplement to recycled system. Water Purchases and Related Costs - Potable Budget to Budget Acre Feet Variance FY 2016 FY 2016 Purchase Costs - 8,000.0 16,000.0 24,000.0 32,000.0 40,000.0 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget Historical Potable Water Purchases, in acre-feet 86 FY 2013 FY 2014 FY 2015 FY 2017 Budget Actual*Budget $ % 164,785$ 179,919$ 216,744$ 225,700$ 212,448$ 220,600$ (5,100)$ -2.3% Potable Transmission 1,610,428 1,878,026 2,063,318 2,146,700 1,804,810 1,974,100 (172,600) -8.0% Total Power Costs 1,775,213$ 2,057,945$ 2,280,062$ 2,372,400$ 2,017,258$ 2,194,700$ (177,700)$ -7.5% Power Costs - Potable Budget to Budget Variance Administrative Buildings Historical Power Costs, in thousands ($) Actual FY 2016 $0 $500 $1,000 $1,500 $2,000 $2,500 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget Administrative Buildings Potable Transmission *Actual unaudited 87 FY 2015 FY 2016 FY 2017 Actual Budget Actual* Budget $ % Administrative Expenditures Directors' Fees 20,382$ 30,000$ 22,100$ 33,000$ 3,000$ 10.0% Travel and Meetings 158,205 214,400 164,590 208,600 (5,800) (2.7%) Conservation and Outreach 144,026 176,900 150,060 177,400 500 0.3% General Office Expense 257,756 284,700 236,868 265,500 (19,200) (6.7%) Equipment 1,230,413 1,106,500 1,060,303 1,109,300 2,800 0.3% Fees 481,243 470,900 480,869 600,600 129,700 27.5% Services 1,526,937 2,224,600 1,526,302 1,952,500 (272,100) (12.2%) Training 77,232 99,000 68,007 126,000 27,000 27.3% Utilities 14,184 14,900 26,445 14,900 - - General Expenses 821,303 836,000 827,274 825,000 (11,000) (1.3%) Bad Debt Expense 91,269 148,000 107,112 99,800 (48,200) (32.6%) Subtotal before Overhead 4,822,950 5,605,900 4,669,930 5,412,600 (193,300) (3.4%) Less: Overhead Allocation (782,314) (740,700) (766,460) (822,800) (82,100) - Total Expenditures 4,040,636$ 4,865,200$ 3,903,470$ 4,589,800$ (275,400)$ (5.7%) 4,403,925$ ######## 5,497,204$ 6,237,600$ Directors' Fees 33,000$ 0.6% Travel and Meetings 208,600 3.9% Conservation and Outreach 177,400 3.3% General Office Expense 265,500 4.9% Equipment 1,109,300 20.5% Fees 600,600 11.1% Services 1,952,500 36.1% Training 126,000 2.3% Utilities 14,900 0.3% General Expenses 825,000 15.2% Bad Debt Expense 99,800 1.8% Subtotal 5,412,600 100.0% Less: Overhead Allocation (822,800) Total Administrative Expenses 4,589,800$ Budget to Budget Variance FY 2017 Administrative Expenditures - Potable FY 2016 Administrative Expenditures - Potable * Actual unaudited 88 FY 2015 FY 2016 FY 2017 Actual Budget Actual* Budget $ % Materials and Maintenance Fuel and Oil 184,027$ 235,600$ 129,898$ 207,500 (28,100)$ (11.9%) Meters and Materials 110,956 113,100 172,175 156,700 43,600 38.5% Fleet Parts and Equipment 118,367 127,400 115,288 124,800 (2,600) (2.0%) Infrastructure Equipment & Supplies 358,197 433,500 339,849 445,700 12,200 2.8% Chemicals 190,169 225,500 151,647 199,600 (25,900) (11.5%) Safety Equipment 39,343 126,300 79,156 51,000 (75,300) (59.6%) Laboratory Equipment and Supplies 34,655 31,000 31,458 36,300 5,300 17.1% Other Materials and Supplies 173,865 185,200 158,587 177,200 (8,000) (4.3%) Building and Grounds Materials 55,375 47,900 56,663 56,000 8,100 16.9% Contracted Services 478,442 642,800 441,968 653,800 11,000 1.7% Total Expenditures 1,743,396$ 2,168,300$ 1,676,689$ 2,108,600$ (59,700)$ (2.8%) Fuel and Oil 207,500$ 9.9% Meters and Materials 156,700 7.4% Fleet Parts and Equipment 124,800 5.9% Infrastructure Equipment and Supplies 445,700 21.1% Chemicals 199,600 9.5% Safety Equipment 51,000 2.4% Laboratory Equipment and Supplies 36,300 1.7% Other Materials and Supplies 177,200 8.4% Building and Grounds Materials 56,000 2.7% Contracted Services 653,800 31.0% 2,108,600$ 100.0% Budget to Budget Variance FY 2017 Materials and Maintenance Expenditures - Potable FY 2016 Materials and Maintenance Expenditures - Potable * Actuals unaudited 89 90 Potable Water Service Area 91 92 Recycled Revenues and Expenditures In 1980, the District began operation of the Ralph W. Chapman Water Recycling Facility (RWCWRF). The RWCWRF plant is capable of recycling wastewater at the rate of 1.3 million gallons per day (MGD) to augment water supplies for irrigation purposes only. The treatment process consists of primary, secondary, and tertiary treatment. The facility’s conversion time to treat raw sewage to full Title 22 recycled water is approximately 20 hours. The steps of the water recycling process are as follows: Primary Treatment The raw sewage flows in at the rotary screen, also known as the “headworks” which removes a large amount of coarse organic and inorganic material that is either floating or in suspension. This is followed by a grit chamber, which removes the heavy settled material. Secondary Treatment This is where the biological treatment begins. The first step takes place in the aeration tanks, also known as reactors or sedimentation basins, which contain bacteria that feed on the organic material in sewage. These bacteria are aerobic, and therefore require a great quantity of pumped-in air to help them thrive. The second step in the process is clarification where the sludge from the aeration tanks is allowed to settle to the bottom and the clear liquid, or secondary effluent, flows out over weirs at the surface. Some of the settled sludge is disposed of and some is returned to the aeration 93 Recycled Revenues and Expenditures tanks to keep the process in balance. The secondary effluent flowing over the weirs is now ready for the next step. Sludge is discharged to the City of San Diego Metropolitan Wastewater (Metro) system. Tertiary Treatment Just before filtration, a small amount of coagulant is added as a filter aid which helps suspended material in the secondary effluent “clump” on the surface of the filters. The filters consist of a layer of sand with a layer of anthracite coal on top. As the fluid moves through the filters, the flow goes through a chlorine contact chamber where disinfection takes place, completing the process of recycling wastewater into recycled water. The District entered an agreement with the City of San Diego in October 2003, to purchase up to six million gallons a day of recycled water from their South Bay Water Reclamation Plant (SBWRP). To bring this plan to fruition, the District constructed a 30-inch six mile pipeline, a 12 million gallon reservoir, and a pump station to bring this new source of recycled water into the District’s system. These projects were completed in spring 2007 which eliminated the need for a potable supplement into the recycled system. The benefits of this to the region as a whole are great, as less demand on the potable system will be made, reducing future capacity and storage requirements. The $42 million investment in capital outlay results in a significant reduction of water purchase costs and an increase in system reliability. The District expects that 12.0% of its total water demand will be met using recycled water. Both the RWCWRF plant, owned and operated by the District, and the SBWRP plant, owned and operated by the City of San Diego, supply the District’s recycled distribution system, as shown in the diagram below. 94 Recycled Revenues and Expenditures The District operates the largest recycled water distribution system in San Diego County and will supply approximately 2,459.6 acre-feet of recycled water to 710 landscaping and construction customers by the end of Fiscal Year 2017. The recycled water customer base consists primarily of irrigation at golf courses, schools, parks, and open space. The geographic area of this water use includes Eastlake, Otay Ranch, Rancho Del Rey, and other areas of eastern Chula Vista. On January 1, 2016 the City of San Diego increased the cost of recycled water the District purchases under the 2003 agreement from $0.80 per hcf to $1.73 per hcf, which was a 116% increase and is the main reason recycled water purchases have increased $1.9 million versus the prior year budget. Producing and distributing recycled water is costly. To help offset the costs of supplying alternative water sources, both CWA and MWD offer incentive programs. In Fiscal Year 1991, the District signed agreements with CWA and MWD to take advantage of the programs they offered. A second agreement was signed in 2000. In 2005, the District agreed to terminate both agreements and entered into a new agreement which allows the District to maximize its ability to earn incentives and to simplify the grant requirements. Currently, the District receives $200 from CWA and $185 from MWD for every acre-foot (AF) of recycled water sold. RWCWRF – Replace 3 Return Activated Sludge (RAS) Pumps Replacement 95 FY 2015 FY 2016 FY 2017 31-Actual Budget Actual * Budget $ % Revenues #Recycled Water Sales 8,853,010$ 9,116,000$ 8,527,042$ 8,900,300$ (215,700)$ (2.4%) #Meter Fees 4,081 400 2,202 400 - - #Interest 14,608 6,300 207 8,300 2,000 31.7% Total Revenues 8,871,699 9,122,700 8,529,451 8,909,000 (213,700) (2.3%) Expenditures Recycled Water Purchases 1,360,807 1,705,800 2,642,437 3,615,900 1,910,100 112.0% #Power 600,799 563,600 526,842 568,900 5,300 0.9% #Labor and Benefits 1,258,945 1,181,600 1,287,606 1,339,200 157,600 13.3% #Administrative Expenses 290,362 321,800 382,368 331,200 9,400 2.9% #Materials and Maintenance 270,990 287,800 219,952 305,000 17,200 6.0% 11 Subtotal - Operations Costs 3,781,903 4,060,600 5,059,205 6,160,200 2,099,600 51.7% D Transfer to GF Reserve - - - 1,371,800 1,371,800 100.0% #Expansion Reserve 2,538,900 2,695,800 2,695,800 455,600 (2,240,200) (83.1%) B Betterment Reserve 725,000 1,945,000 1,945,000 835,200 (1,109,800) (57.1%) ReReplacement Reserve 1,679,000 328,000 328,000 - (328,000) (100.0%) TOTransfer to OPEB 57,300 58,300 58,300 51,200 (7,100) (12.2%) NTransfer to New Supply Fund - 35,000 35,000 35,000 - - Subtotal - Reserve Funding 5,000,200 5,062,100 5,062,100 2,748,800 (2,313,300) (45.7%) Total Expenditures 8,782,103 9,122,700 10,121,305 8,909,000 (213,700) (2.3%) 89,596$ -$ (1,591,854)$ -$ -$ - Excess Revenues/Expenditures Operating Budget Summary - Recycled Budget to Budget VarianceFY 2016 * Actual unaudited 96 FY 2015 FY 2017 Actual Budget Actual*Budget $% Water Sales 6,412,122$ 6,694,500$ 6,240,661$ 6,702,300$ 7,800$ 0.1% System Fees 431,121 464,300 471,962 432,800 (31,500) -6.8% Energy Fees 369,302 399,200 379,026 379,100 (20,100) -5.0% MWD and CWA Rebates 1,611,764 1,522,900 1,396,472 1,351,000 (171,900) -11.3% Penalties 28,701 35,100 38,921 35,100 - 0.0% Total Recycled Water Sales 8,853,010$ 9,116,000$ 8,527,042$ 8,900,300$ (215,700)$ -2.4% Water Sales 6,702,300$ 75.4% System Fees 432,800 4.9% Energy Fees 379,100 4.3% MWD and CWA Rebates 1,351,000 15.2% Penalties 35,100 0.2% 8,900,300$ 100.0% Water Sales: Water rates vary among classes of service and are charged per unit of water. A unit of water is equal to 100 cubic feet of water. On January 1, 2009, the District implemented a tiered rate structure for all customer types to encourage conservation and bring equity among the classes. System Fees: Each water service customer pays a monthly system charge for water system replacement, maintenance, and operation expenses. The charge is based on the size of the meter. Energy Fees: The energy pumping fee is $ .044 per 100 cubic feet of water for each 100 feet of lift above the elevation of 450 feet. All water customers are in one of 29 zones based on elevation. MWD and CWA Rebates: Incentive from MWD and CWA for providing recycled water. The District receives $200 from CWA and $185 from MWD for every acre-foot (AF) of recycled water sold. Penalties: Charges and penalties are imposed on customer accounts for late payments and returned checks. Budget to Budget Variance FY 2017 Classification of Water Sales FY 2016 Classification of Water Sales - Recycled *Actual unaudited 97 Current Approved Accounts Unit Sales Budget Recycled .75" and 1.0" Meter 102 47,600 209,200$ 0 - 32 units 4.08$ 4.85$ 33 - 75 units 4.14 4.92 over 76 units 4.20 4.99 Recycled 1.5" and 2.0" Meter 590 1,044,700 4,607,500 0 - 130 units 4.08 4.85 131 - 325 units 4.14 4.92 over 326 units 4.20 4.99 Recycled 3.0" and 4.0" Meter 11 81,000 358,300 0 - 440 units 4.08 4.85 441 - 1,050 units 4.14 4.92 over 1,051 units 4.20 4.99 Recycled more than 6.0" Meter 1 53,700 236,500 0 - 4,000 units 4.08 4.85 4,001 - 10,000 units 4.14 4.92 over 10,000 units 4.20 4.99 Recycled Temporary 3.0" and 4.0" Meter 40,000 177,600 0 - 440 units 4.08 4.85 3 441 - 1,050 units 4.14 4.92 over 1,051 units 4.20 4.99 Recycled Temporary more than 6.0" Meter 1 19,300 85,700 0 - 4,000 units 4.08 4.85 4,001 - 10,000 units 4.14 4.92 over 10,000 units 4.20 4.99 Recycled Commercial <10" Meter 1 108,100 357,800 0 - 173 units 2.97 3.53 174 - 831 units 3.03 3.60 over 832 units 3.07 3.65 Recycled Commercial >10" Meter 1 134,100 432,200 0 - 7,426 units 2.97 3.53 7,427 - 14,616 units 3.03 3.60 over 14,617 units 3.07 3.65 Total 710 1,528,500 6,464,800$ Government Fee 0.37 0.41 - - 237,500 Total Water Sales 710 1,528,500 6,702,300$ (1) Approved rates for water billed beginning in January 2017. FY 2017 Water Sales Summary by Meter Size - Recycled Water Rates (1) 98 FY 2013 FY 2014 FY 2015 FY 2017 Budget Actual Budget Recycled .75" & 1.0" Meter 59,698 68,523 63,142 49,300 52,258 47,600 Recycled 1.5" & 2.0" Meter 1,366,238 1,474,879 1,365,116 1,253,400 1,067,391 1,044,700 Recycled 3.0" & 4.0" Meter 100,991 115,794 103,125 87,100 91,711 81,000 Recycled > 6.0" Meter 352,023 363,760 192,003 214,700 50,140 53,700 Recycled-Temp 3" & 4" Meter - 18,592 - - 56,376 40,000 Recycled-Temp > 6" Meter - 26,782 - - 39,471 19,300 Recycled Commercial <10" Meter - - 67,010 67,000 100,000 108,100 Recycled Commercial >10" Meter - - 51,560 51,600 134,330 134,100 Total Unit Sales 1,878,950 2,068,330 1,841,956 1,723,100 1,591,677 1,528,500 FY 2013 FY 2014 FY 2015 FY 2017 Budget Actual Budget Recycled .75" & 1.0" Meter 103 100 101 101 102 102 Recycled 1.5" & 2.0" Meter 587 588 590 591 588 590 Recycled 3.0" & 4.0" Meter 11 11 11 11 11 11 Recycled > 6.0" Meter 3 1 1 1 1 1 Recycled-Temp 3" & 4" Meter - 1 - - 3 3 Recycled-Temp > 6" Meter - 1 - - 1 1 Recycled Commercial <10" Meter - - 1 1 1 1 Recycled Commercial >10" Meter - - 1 1 1 1 Total Meter Count 704 702 705 706 708 710 Unit Sales History and Meter Count by Customer Class - Recycled Unit Sales in thousands ($) and Meter Count Trends Actual Actual FY 2016 FY 2016 100 300 500 700 900 100 500 900 1,300 1,700 2,100 2,500 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget Meter Count Recycled Unit Sales 99 FY 2017 FY 2016 FY 2017 Meter Size Meter Count Current Approved Budget Budget $% 0.75 2 18.91$ 15.91$ 500$ 400$ (100)$ -20.0% 1.00 100 26.71 22.47 32,100 29,500 (2,600) -8.1% 1.50 395 46.22 38.88 222,400 201,700 (20,700) -9.3% 2.00 195 69.61 58.55 165,000 149,900 (15,100) -9.2% 3.00 4 132.02 111.04 6,400 5,800 (600) -9.4% 4.00 10 202.24 170.10 17,200 22,300 5,100 29.7% 6.00 3 397.31 334.18 9,700 13,200 3,500 36.1% 8.00 - 631.37 531.05 - - - 0.0% 10.00 1 904.44 760.72 11,000 10,000 (1,000) -9.1% Total 710 464,300$ 432,800$ (31,500)$ -6.8% (1) Approved rates for water billed beginning in January 2017. System Fees - Recycled Budget to Budget Variance Historical System Fees, in thousands ($) System Fees 100 200 300 400 500 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget (1) 100 Meter Size Meter Sales Installation Fee Meter Fee Total Fees Budget 0.75 - 103.90$ 218.94$ 322.84$ -$ 1.00 1 103.90 282.52 386.42 400 1.50 - 103.90 459.21 563.11 - 2.00 - 103.90 658.00 761.90 - 3.00 - 625.55 2,050.60 2,676.15 - 4.00 - 625.55 3,561.56 4,187.11 - 6.00 - 988.10 6,151.79 7,139.89 - 8.00 - 1,515.16 7,686.20 9,201.36 - 10.00 - 1,515.16 11,054.19 12,569.35 - Total 1 400$ Meter Fees - Recycled Historical Meter Count Meter Fees:Charges collected for new water service connections. Fees vary depending upon meter size and type of service. The costs associated with meter installations are included in the Operating Expenses section of the budget. These charges are funded by developers. FY 2017 550 575 600 625 650 675 700 725 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget 101 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016*FY 2017 Budget Water Sales 4,999,441$ 6,148,619$ 7,416,631$ 6,412,122$ 6,240,661$ 6,702,300$ System Fees 268,937 292,201 356,806 431,121 471,962 432,800 Energy Fees 303,867 346,064 383,513 369,302 379,026 379,100 MWD and CWA Rebates 1,413,335 1,660,736 1,828,134 1,611,764 1,396,472 1,351,000 Penalties 33,323 40,867 29,682 28,701 38,921 35,100 Total Recycled Revenues 7,018,903$ 8,488,487$ 10,014,766$ 8,853,010$ 8,527,042$ 8,900,300$ Revenue History - Recycled Revenue History - Recycled, in millions ($) Actual $- $2 $4 $6 $8 $10 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget Water Sales System Fees Energy Fees MWD and CWA Rebates Penalties *Actual unaudited 102 FY 2017 FY 2017 Budget Actual Budget Budget Actual* Budget $ % Rate Per Acre Feet 348.00$ 487.74$ 756.00$ 408.00$ 117.2% Recycled Water Purchases 2,906.4 2,670.2 2,459.6 949,900$ 1,417,576$ 1,859,300$ 909,400$ 95.7% Meter Fee $1,333.75 monthly 19,800 17,841 16,000 (3,800) -19.2% Take-or-pay contract (1)1,910.8 1,804.0 2,302.4 736,100 1,176,358 1,740,600 1,004,500 136.5% Potable Supplement - 26.8 - - 30,662 - - - Total 4,817.2 4,501.0 4,762.0 1,705,800$ 2,642,437$ 3,615,900$ 1,910,100$ 112.0% Average Cost Per Acre-Foot (Effective Rate)586.91$ 989.62$ 1,470.10$ (1) This is the anticipated take-or-pay amount to be paid to the City of San Diego. The contract requires the purchase of a minimum volume of water. The District does not anticipate meeting the minimum therefore, a payment would be due the City of San Diego. Water Purchases - Recycled HISTORICAL RECYCLED WATER PURCHASES, IN ACRE-FEET Variance Budget to BudgetFY 2016 Purchase CostsAcre Feet FY 2016 - 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget *Actual unaudited 103 FY 2013 FY 2014 FY 2015 FY 2017 Actual Budget Actual*Budget $ % Total Power Cost 471,139$ 591,883$ 600,799$ 563,600$ 526,842$ 568,900$ 5,300$ 0.9% Budget to Budget Variance Historical Power Costs, in thousands ($) FY 2016 Power Costs - Recycled $0 $100 $200 $300 $400 $500 $600 $700 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget *Actual unaudited 104 FY 2015 FY 2016 FY 2017 Actual Budget Actual* Budget $ % Administrative Expenditures Equipment -$ 1,300$ 2,286$ 3,300$ 2,000$ 153.8% Fees 25,587 25,600 24,347 25,500 (100) (0.4%) Services 57,491 105,200 144,308 87,200 (18,000) (17.1%) Subtotal before Overhead 83,078 132,100 170,941 116,000 (16,100) (12.2%) Add: Overhead Allocation 207,284 189,700 211,427 215,200 25,500 13.4% Total Expenditures 290,362$ 321,800$ 382,368$ 331,200$ 9,400$ 2.9% Equipment 3,300$ 1.0% Fees 25,500 7.7% Services 87,200 26.3% Overhead Allocation 215,200 65.0% 331,200$ 100.0% FY 2017 Administrative Expenditures - Recycled Administrative Expenditures - Recycled Budget to Budget Variance FY 2016 * Actual unaudited 105 FY 2015 FY 2016 FY 2017 Actual Budget Actual* Budget $ % Materials and Maintenance Fuel and Oil 12,370$ 15,000$ 11,921$ 34,800$ 19,800$ 132.0% Meters and Materials 865 700 3,927 2,500 1,800 257.1% Infrastructure Equipment & Supplies 81,933 72,000 66,601 75,400 3,400 4.7% Chemicals 154,979 170,600 112,514 160,200 (10,400) (6.1%) Safety Equipment 1,386 1,000 1,999 1,500 500 50.0% Laboratory Equipment and Supplies 3,971 4,000 3,667 4,000 - - Other Materials and Supplies 3,439 5,200 2,519 5,000 (200) (3.8%) Contracted Services 12,047 19,300 16,804 21,600 2,300 11.9% Total Expenditures 270,990$ 287,800$ 219,952$ 305,000$ 17,200$ 6.0% Fuel and Oil 34,800$ 11.4% Meters and Materials 2,500 0.8% Infrastructure Equipment & Supplies 75,400 24.7% Chemicals 160,200 52.6% Safety Equipment 1,500 0.5% Laboratory Equipment and Supplies 4,000 1.3% Other Materials and Supplies 5,000 1.6% Contracted Services 21,600 7.1% 305,000$ 100.0% Materials and Maintenance Expenditures - Recycled Budget to Budget Variance FY 2017 Materials and Maintenance Expenditures - Recycled FY 2016 * Actual unaudited 106 Recycled Water Service Area 107 108 Sewer Revenues and Expenditures The District provides sewer service to approximately 15,200 customers through 4,677 accounts located in the northern section of the District. The District operates and maintains the sewage collection system serving Rancho San Diego, Singing Hills, and portions of Mount Helix, all within the Upper Sweetwater River Basin. This basin is also known as the Jamacha Basin. Residential customers comprise 98.4% of the customer base. Modest growth of 0.33% is anticipated in Fiscal Year 2017. Wastewater collection within the Jamacha Basin is provided by two agencies: the Otay Water District and the County of San Diego, (formerly the Spring Valley Sanitation District). Customers in the basin, not served by either agency, dispose of their sewage through septic tanks. After the sewage has been collected, it is sent to the District’s Ralph W. Chapman Water Recycling Facility (RWCWRF) treatment plant where the District produces recycled water, see page 93 outlining the sewer process. The by-product of the treatment process is called sludge and it is discharged through County’s transmission system into the City of San Diego Metropolitan Wastewater (Metro) systems. The District is a member of Metro Wastewater Joint Powers Authority and shares in the use of the City of San Diego's regional wastewater facilities. A significant amount of the sewer operation costs is for sewer service charges from the Metro Wastewater JPA which is budgeted at $655,000 for Fiscal Year 2017. Additionally, the District Is budgeted to pay $180,200 for its share of the operation and maintenance cost of the Rancho San Diego Outfall and the Spring Valley Outfall to transport sewage to Metro for Fiscal Year 2017. To meet State of California requirements, customers must pay their fair share of sewer costs. The District is required to set sewer rates in accordance with the State’s Revenue Program Guidelines. During Fiscal Year 2013, the District performed a Cost of Service Study and Rate Study (i.e. reviewed rates, fees, charges, costs, and the usage structure) and determined that increases in rates, fees, and charges were necessary in order to recover sufficient revenues to operate and maintain the public sewer system. Sewer bills are based on the rate of discharge and the strength. Due to their higher discharge and strength, non-residential customers (comprising 1.6% of the customer base) comprise 12.0% of the total sewer charges. The formula for sewer rates is shown on pages 117-118. 109 FY 2015 FY 2016 FY 2017 21-Actual Budget Actual * Budget $ % Revenues #Sewer Revenues 3,009,634$ 3,206,300$ 3,149,295$ 2,918,900$ (287,400)$ (9.0%) #Capacity Fee Revenues 7,510 - 4,528 - - - Tax Revenues 44,553 51,600 72,469 51,600 - - #Non-operating Revenues 33,760 37,200 881,549 35,500 (1,700) (4.6%) #Interest 8,727 8,200 1,523 4,300 (3,900) (47.6%) TF Transfer from Potable General Fund 553,800 - - - - - Total Revenue 3,657,984 3,303,300 4,109,364 3,010,300 (293,000) (8.9%) Expenditures #Power 167,475 176,800 153,815 174,400 (2,400) (1.4%) #Labor and Benefits 764,133 681,300 884,853 979,300 298,000 43.7% #Administrative Expenses 172,992 200,800 224,541 229,100 28,300 14.1% #Materials and Maintenance 1,325,391 1,156,700 1,206,534 1,042,700 (114,000) (9.9%) 11 Subtotal - Operations Costs 2,429,991 2,215,600 2,469,743 2,425,500 209,900 9.5% D Transfer to General Fund Reserve - - 196,100 196,100 100.0% B Betterment Reserve - 455,000 455,000 351,200 (103,800) (22.8%) ReReplacement Reserve 916,200 599,100 599,100 - (599,100) (100.0%) TOTransfer to OPEB 43,800 33,600 33,600 37,500 3,900 11.6% Subtotal - Reserve Funding 960,000 1,087,700 1,087,700 584,800 (502,900) (46.2%) Total Expenditures 3,389,991 3,303,300 3,557,443 3,010,300 (293,000) (8.9%) 267,993$ -$ 551,921$ -$ -$ - Excess Revenue/(Expenditures) Operating Budget Summary - Sewer Budget to Budget VarianceFY 2016 * Actual unaudited110 FY 2017 FY 2017 Accounts Current Approved(1)Budget Actual*Budget $% Residential 4,552 2.46$ 2.58$ 1,572,800$ 1,648,752$ 1,429,300$ (143,500)$ -9.1% Multi-Residential 50 2.46 2.58 187,700 220,491 188,600 900 0.5% Commercial Low Strength 45 2.46 2.58 53,300 13,063 48,400 (4,900) -9.2% Medium Strength 13 3.53 3.70 33,600 43,739 15,400 (18,200) -54.2% High Strength 7 5.63 5.90 17,500 22,878 30,200 12,700 72.6% Schools 6 2.46 2.58 109,900 167,240 84,600 (25,300) -23.0% Churches 4 2.46 2.58 8,500 9,944 10,400 1,900 22.4% Subtotal Commercial 75 222,800 256,864 189,000 (33,800) -15.2% Total Sewer Charges 4,677 1,983,300$ 2,126,107$ 1,806,900$ (176,400)$ -8.9% Single-Family 1,429,300$ 79.1% Multi-Family 188,600 10.4% Commercial 189,000 10.5% 1,806,900$ 100.0% (1)Approved rates for sewer service beginning in January 2017. * Actual unaudited FY 2017 Charges Summary by Service Class Charges Summary by Service Class - Sewer Usage Fee Budget to Budget VarianceFY 2016 111 FY 2017 Current Approved (1)FY 2017 Meter Size Accounts Rates Rates Budget Actual*Budget $ % Residential 4,552 17.19$ 15.89$ 824,900$ 829,120$ 903,400$ 78,500$ 9.5% Multi-Residential/Commercial 0.75 22 27.07 28.37 6,700 6,497 7,300 600 9.0% 1.00 6 39.89 41.80 2,800 2,393 2,900 100 3.6% 1.50 20 71.82 75.27 16,800 16,375 17,600 800 4.8% 2.00 63 110.17 115.46 81,400 80,644 85,300 3,900 4.8% 3.00 6 199.66 209.24 14,000 14,376 14,800 800 5.7% 4.00 6 327.51 343.23 23,000 23,581 24,200 1,200 5.2% 6.00 1 647.12 678.18 7,600 7,765 8,000 400 5.3% 8.00 - 1,030.67 1,080.14 - - - - 10.00 1 1,478.12 1,549.07 17,300 17,737 18,200 900 5.2% Total System Fee 4,677 994,500$ 998,488$ 1,081,700$ 87,200$ (1)Approved rates for system fees beginning in January 2017. System Fees - Sewer Budget to Budget VarianceFY 2016 *Actual unaudited 112 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016*FY 2017 Budget Sewer Charges 2,368,192$ 2,588,991$ 2,736,867$ 2,986,734$ 3,124,595$ 2,888,600$ Penalties 27,173 29,300 21,000 22,900 24,700 30,300 Total 2,395,365$ 2,618,291$ 2,757,867$ 3,009,634$ 3,149,295$ 2,918,900$ Revenue History - Sewer, in thousands ($) Revenue History - Sewer Actual $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget Sewer Charges Penalties *Actual unaudited 113 FY 2013 FY 2014 FY 2015 FY 2017 Budget Actual*Budget $ % Total Power Cost $ 184,108 159,018$ 167,475$ 176,800$ 153,815$ 174,400$ (2,400)$ -1.4% Historical Power Costs, in thousands ($) Budget to Budget Variance Actual FY 2016 Power Costs - Sewer $20 $60 $100 $140 $180 $220 FY 2012 Actual FY 2013 Actual FY 2014 Actual FY 2015 Actual FY 2016 Actual FY 2017 Budget *Actual unaudited 114 FY 2015 FY 2016 FY 2017 Actual Budget Actual* Budget $ % Administrative Expenditures Equipment 3,575$ 4,500$ 86$ 16,500$ 12,000$ 266.7% Fees 6,715 2,500 4,067 6,700 4,200 168.0% Services 35,508 80,000 65,142 42,700 (37,300) (46.6%) Bad Debt Expense 2,222 7,000 7,108 5,200 (1,800) (25.7%) Total 48,020 94,000 76,403 71,100 (22,900) (24.4%) Add: Overhead Allocation 124,972 106,800 148,138 158,000 51,200 47.9% Total Expenditures 172,992$ 200,800$ 224,541$ 229,100$ 28,300$ 14.1% Equipment 16,500$ 7.2% Fees 6,700 2.9% Services 42,700 18.6% Bad Debt Expense 5,200 2.3% Overhead Allocation 158,000 69.0% 229,100$ 100.0% Budget to Budget Variance FY 2017 Administrative Expenditures - Sewer FY 2016 Administrative Expenditures - Sewer * Actual unaudited 115 FY 2015 FY 2016 FY 2017 Actual Budget Actual* Budget $ % Materials and Maintenance Fleet Parts and Equipment 4,689$ 1,500$ 7,504$ 5,000$ 3,500$ 233.3% Infrastructure Equipment & Supplies 72,609 115,800 99,019 105,600 (10,200) (8.8%) Chemicals 4,507 4,500 4,519 4,500 - - Safety Equipment 44 - - - - - Laboratory Equipment and Supplies 5,221 5,000 4,852 5,000 - - Other Materials and Supplies 2,884 100 123 100 - - Contracted Services 26,924 33,400 59,350 87,300 53,900 161.4% Subtotal Materials and Maintenance 116,878 160,300 175,367 207,500 47,200 29.4% Sewer Charges Metro O&M Costs 1,020,276 815,000 812,536 655,000 (160,000) (19.6%) Spring Valley Sewer Charge 188,237 181,400 218,631 180,200 (1,200) (0.7%) Subtotal Sewer Charges 1,208,513 996,400 1,031,167 835,200 (161,200) (16.2%) Total Expenditures 1,325,391$ 1,156,700$ 1,206,534$ 1,042,700$ (114,000)$ (9.9%) Fleet Parts and Equipment 5,000$ 0.5% Infrastructure Equipment & Supplies 105,600 10.1% Chemicals 4,500 0.4% Laboratory Equipment & Supplies (1)5,100 0.5% Contracted Services 87,300 8.4% Metro O&M Costs 655,000 62.8% Spring Valley Sewer Charge 180,200 17.3% 1,042,700$ 100.0% Includes Other Materials & Supplies. Materials and Maintenance Expenditures - Sewer Budget to Budget Variance FY 2017 Materials and Maintenance Expenditures - Sewer FY 2016 (1) * Actual unaudited 116 Formula for Sewer Rates To meet State of California requirements, customers must pay their fair share of sewer costs. The District is required to set sewer rates in accordance with the State’s Revenue Program Guidelines. Residential and Multi-Residential Sewer Service To estimate sewer use, the District averages metered water use for the winter months of January through April. A “winter average” is the basis of the sewer charges for the entire year. The winter months are the best time to average water use because less water is used outdoors and most of the water used flows to the sewer system. The District gives customers a 15.0% usage discount to acknowledge that not all water purchased goes to the sewer system. The maximum consumption charge is based on 30 units. The following is the sewer bill formula for residential and multi-residential customers: (Winter Average x 85% x Usage Fee) + System Fee The current usage fee and system fee for single-family residential customers $2.46 and $17.19, respectively. Effective January 1, 2017 the usage fee and system fee will be $2.58 and $15.89, respectfully. The current usage fee for multi-residential customers is $2.46 and will increase to $2.58 for the calendar year 2017. The system fee for multi-residential is based on meter size and is shown on page 112. Commercial and Industrial Sewer Service To estimate sewer use, the District averages metered water use. An “average annual consumption” is the basis of the sewer charges for the entire year. The average annual consumption is defined as the units of water billed from January through December of the previous year. The District gives customers a 15.0% usage discount to acknowledge that not all water purchased goes to the sewer system. The following is the sewer bill formula for commercial and industrial customers: (Average Annual Consumption x 85% x Usage Fee x Strength Factor) + System Fee The District calculates the monthly bill based on the customer’s water use, sewer strength and the size of the customer’s water meter which is more equitable among customer classes. The rates and charges by meter size are shown on page 112. The District is required to determine sewer rates in accordance with the State’s Revenue Program Guidelines. The State Water Resources Control Board (SWRCB) has grouped commercial customers 117 Formula for Sewer Rates The District is required to determine sewer rates in accordance with the State’s Revenue Program Guidelines. The State Water Resources Control Board (SWRCB) has grouped commercial customers into various categories and has identified Strength Factors for each of these business categories. The standard of measure for Strength Factors is the typical sewer strength of a single-family residence (SFR). The Strength Factors established by the SWRCB are listed below and are used by the District in the calculation of commercial sewer rates. These factors are in terms of the strength relative to a SFR, with a SFR having a strength factor of 1. The following are the Strength Factors: Description Strength Factor Fee, Effective 1/1/2017 Low-Strength Commercial * 1.000 $ 2.58 Medium-Strength Commercial 2.000 $ 3.70 High-Strength Commercial 4.000 $ 5.90 *Schools and churches are categorized as Low-Strength Commercial customers. 118 Sewer Service Area 119 120 General Revenues and Expenses The District’s revenues and expenses in this section are not directly related to the services delivered to potable, recycled, or sewer customers, yet they are operating expenses or revenues. General Revenues Capacity fees are restricted for the purpose of funding the District facilities. When collected these fees may cover costs including but not limited to planning, design, construction, and financing associated with facilities. The District uses a portion of capacity fee revenues to provide general expansion planning and developer support. These fees reimburse the General Fund for the cost of providing these services. For FY 2017, capacity fees are projected to be $1,248,200 which is $113,400 more than the FY 2016 budget. Annexation fees are collected when developers buy into the District’s potable or recycled water facilities. The fee ensures that future users fund the portion of the facilities that were sized and built for their future use by prior customers. Prior to FY 2010, annexation fees were unrestricted and therefore included in the General Fund revenues. With the new fee methodology, these fees are now restricted for the purpose of capital improvements. The 1% property tax is a result of Proposition 13 that was approved in 1978, which limited the general levy property tax rate for all taxing authorities to a total rate of 1% of the assessed value. Subsequent legislation, AB8, established that the receipts from the 1% levy were to be distributed to taxing agencies according to approximately the same proportions received prior to Proposition 13. These general use funds are currently being used as a source of operating revenue. Property Tax Revenues are projected to increase versus FY 2015 budget by $141,800 to $3,354,800. The District levies availability charges each year in developed areas to be used for upgrades and betterment and in undeveloped areas to provide funding for planning, mapping, and preliminary design of facilities to meet future development. Current legislation provides that any availability charge in excess of $10.00 per parcel or acre shall be used only for the benefit of the improvement district in which it is assessed. Availability fees are projected to be $678,300. Included in the General Revenues are a variety of Non-Operating Revenues. These revenues include lease revenue, set-up fees, sewer billing fees, grants, and miscellaneous revenues. Lease revenues make up a large portion of general revenues and are mainly from the lease of cell-sites on District property. When the District enters a new lease there is a one-time fee charged with the set-up of each cell-site. The District incurs expenses related to these leases and the purpose of the fee is to recover the cost to set up the lease. In addition to the cell-site leases, the District leases land to the Highlands Golf Co., LLC. The lease terms include a minimum annual rent guarantee plus a percentage of sales. This lease has a 36- year term. 121 General Revenues and Expenses For most of the District’s water customers in the City of Chula Vista (CCV), the City of Chula Vista provides the sewer services. The CCV sewer fees are based on water consumption. Because of the shared customer base, the CCV contracts with the District for the billing of their sewer customers who live within the District. General Expenses The expenses in this section are general operating costs not associated with an individual department. These include legal costs, insurance premiums, changes in accrued employee leave balances, and miscellaneous interest. These expenditures represent 7.8% of the total Departmental Budget. Legal expenditures are viewed as a District-wide general cost because they benefit all departments and usually are not attributed to any one department. The District retains outside legal services instead of in-house counsel. Insurance premiums are also viewed as District-wide general cost because it benefits all departments and cannot be attributed to any one department. The District participates in a program where it can reduce its premium by implementing training sessions to reduce on-the-job accidents and injuries. Some employee benefits are charged to the General Expense Department because they are not entirely attributable to a specific department or fiscal year in which they are incurred. For example, when a pay rate increase occurs for an employee, his/her leave balances increase in value due to this change. In this case, the cost is charged to the General Expense Department. 122 FY 2015 FY 2016 FY 2017 Actual Budget Actual * Budget $% Fee Revenues Capacity Fee Revenues 1,312,108$ 1,134,800$ 1,517,128$ 1,248,200$ 113,400$ 10.0% Betterment Fees 188,123 - - - - 0.0% Subtotal Fee Revenues 1,500,231 1,134,800 1,517,128 1,248,200 113,400 10.0% Tax Revenues 1% General Tax 3,128,961 3,213,000 3,353,611 3,354,800 141,800 4.4% Availability Fees 685,555 684,900 616,591 678,300 (6,600) (1.0%) Subtotal Tax Revenues 3,814,516 3,897,900 3,970,202 4,033,100 135,200 3.5% General Revenue 5,314,747$ 5,032,700$ 5,487,331$ 5,281,300$ 248,600$ 4.9% FY 2015 FY 2016 FY 2017 Actual Budget Actual * Budget $% Property Rental 1,232,920$ 1,269,800$ 1,281,150$ 1,310,300$ 40,500 3.2% Sewer Billing Fees 375,741 375,500 381,550 383,100 7,600 2.0% Set-up Fee for Lease Site 24,500 - 9,000 - - 0.0% Revenue from Shared Facility 33,760 37,200 25,241 35,500 (1,700) (4.6%) Miscellaneous 737,454 191,100 737,924 450,400 259,300 135.7% Non-Operating Revenue 2,404,375$ 1,873,600$ 2,434,865$ 2,179,300$ 305,700$ 16.3% Potable Recycled Sewer Total Capacity Fee Revenues 1,248,200$ -$ -$ 1,248,200$ 1% General Tax 3,354,800 - - 3,354,800 Availability Fees 626,700 - 51,600 678,300 Property Rental 1,310,300 - - 1,310,300 Sewer Billing Fees 383,100 - - 383,100 Revenue from Shared Facility - - 35,500 35,500 Miscellaneous 450,400 - - 450,400 Total General and Non-Operating Revenue 7,373,500$ -$ 87,100$ 7,460,600$ (1) For General and Non-Operating Revenues, the Potable Fund serves as the District's General Fund for accounting purposes. General Revenues General and Non-Operating Revenues by Business(1) FY 2017 Budget to Budget Variance General Revenues(1) Budget to Budget Variance Non-Operating Revenues(1) FY 2016 FY 2016 * Actuals unaudited 123 FY 2015 FY 2016 FY 2017 Actual Budget Actual* Budget $% General Expense Labor and Benefits (1)1,487,720$ 1,183,400$ 1,359,311$ 1,181,400$ (2,000)$ (0.2%) Legal Fees 174,636 250,000$ 250,074 250,000 - 0.0% General Insurance 645,410 586,000 577,200 575,000 (11,000) (1.9%) Services 1,257 - - - - 0.0% Total General Expense 2,309,023$ 2,019,400$ 2,186,585$ 2,006,400$ (13,000)$ (0.6%) General Expense Budget to Budget Variance (1)Benefits include District-wide labor and benefit costs not attributable to any one department, such as the effect of cost of living raises on accrued leave liabilities or the Other Post Employment Benefit (OPEB) costs. These costs are netted against the District's anticipated Vacancy Factor. The Vacancy Factor for FY 2016 and FY 2017 is $338,300 and $198,600, respectively. Additionally, the labor and benefits shown on this schedule are those related to operating costs and does not include CIP labor and benefit costs. FY 2016 * Actuals unaudited 124 Departmental Operating Budget Labor and Benefits Labor and Benefits represent 22.8% of the total Operating Budget. District personnel are assigned to work in five departments: General Manager, Administrative Services, Finance, Water Operations, and Engineering. The departments are further categorized by functions into divisions. The Fiscal Year 2017 Budget includes funding for labor and benefits for 135 full-time equivalent (FTE) employees. The staffing level for Fiscal Year 2017 had a decrease of three (3) FTE employees from Fiscal Year 2016. The District has chosen to eliminate vacant positions in areas that have experienced a reduction of workload requirements. Since 2007, the District has reduced FTEs by 22.7% due to slowed growth and by focusing on efficiencies and automation. Efficiencies have been achieved by strategic planning, goal setting, outsourcing, and leveraging advancements in technology. A projected 7.8% of the labor and benefits costs will be charged to projects included in the Capital Improvement Program (CIP) and Developer Deposits. These labor and benefit costs totaling $ 1,824,100 are not considered operating costs and therefore are not included in the Operating Budget. Administrative Expenses Administrative Expenses include such items as memberships, office supplies, staff training, Directors' fees, water conservation programs, safety expenses, and regulatory agencies' fees. Some of the administrative expenses are less discretionary than others. The safety needs of the District's customers and employees, and compliance with regulatory agencies are of utmost importance and are considered necessary. The District is better able to control expenses such as training or business meetings. Overall administrative expenses decreased by $237,700 or (4.4%) compared to FY 2016 and is shown on page 132. Decreases are anticipated in services by 13.6% or $327,400, bad debt expense by 32.3% or $50,000, general office expense by 6.7% or $19,200, general expenses by 1.3% or $11,000 and travel and meetings by 2.7% or $5,800. The decrease in services is primarily due to the removal of drought related outreach in FY 2016. Staff has reduced the District’s bad debt expense budget to be more in line with the recent trends. General office expenses have decreased primarily due to electronic mailing of correspondence and e-billing. General expenses consist primarily of District insurance, legal expenses and District-wide labor and benefit costs. For FY 2017, the District’s general insurance premium decreased by 1.9% or $11,000. Travel and meeting budgets has decreased due to less employee travel and meetings. These decreases are offset by increases in fees by 20.1% or $105,700, training by 27.3% or $27,000, equipment by 1.5% or $16,800, director’s fees by 10.0% or $3,000, and conservation and outreach by 0.3% or $500. Fees increased primarily to cover election expenses and increases in the recycled water fees. For FY 2017, the District increased the training budget to provide mandated management training. Equipment costs increased primarily due to the addition of water absorbent materials for landfill disposal. 125 Departmental Operating Budget Materials and Maintenance Like all costs included by the District, the materials and maintenance expenses allow the District to provide reliable, high-quality products, services, and support to its customers. As the District continues to grow and technology and regulations change, maintenance and services will be adjusted, as needed. For Fiscal Year 2017, overall materials and maintenance expenses decreased by 4.3%, or $156,500. Decreases were recognized in sewer charges by 16.2% or $161,200, safety equipment by 58.8% or $74,800, chemicals by 9.1% or $36,300, fuel and oil by 3.3% or $8,300, and other materials and supplies by 4.3% or $8,200. Sewer charges decreased by 19.6% or $160,000 compared to FY 2016 because the District’s share of costs based on total flow, suspended solids and chemical oxygen, decreased. Safety equipment decreased due to the removal of one time funding for first responders kits in FY 2016. The budget for chemicals was reduced because staff anticipates less chemical usage due to reduced water usage as a result of the conservation efforts. Fuel and oil was decreased to reflect the lower cost per gallon of fuel. Other materials and supplies has been decreased based on the needs of the leak detection program. These decreases are offset by increases in contracted services by 9.7% or $67,200, meters and materials by 39.9% or $45,400, building and grounds materials by 16.9% or $8,100, infrastructure equipment and supplies by .9%, or $5,400, laboratory equipment and supplies by 13.3% or $5,300 and fleet parts and materials by .7% or $900. Contracted services and infrastructure equipment and supply costs increased primarily to provide for the needs of landfill hauling. Meters and materials costs have increased based on the increased residential construction in the Otay Ranch area. Building and grounds materials costs increased to provide for facilities maintenance. 126 Board of Directors 120,300$ 0.4% General Manager 1,737,600 5.7% General Expense 2,006,400 6.5% Administrative Services 6,324,900 20.6% Finance 5,858,600 19.1% Water Operations 11,316,700 36.8% Engineering 3,361,700 10.9% 30,726,200$ 100.0% Departmental Operating Budget Total FY 2017 Departmental Operating Budget $30,726,200 127 FY 2015 FY 2017 Actual Budget Actual* Budget $ % Labor Costs 11,177,926$ 11,487,900$ 11,383,709$ 11,645,000$ 157,100$ 1.4% Benefits Pension 3,575,595 3,885,300 3,854,533 4,161,600 276,300 7.1% Employee Assistance Program 3,755 4,000 3,744 4,200 200 5.0% Workers' Compensation 261,821 260,000 251,014 265,900 5,900 2.3% Health/Dental/Life Insurance/OPEB 3,611,579 4,012,200 3,800,813 4,072,500 60,300 1.5% Social Security/Medicare 927,579 948,200 947,970 962,700 14,500 1.5% Salary Continuation Insurance 56,144 67,800 60,272 89,500 21,700 32.0% State Unemployment Insurance 9,998 30,000 11,375 30,000 - 0.0% Vacation/Sick/Holiday/Other Leave 2,277,556 2,195,300 2,326,667 2,262,900 67,600 3.1% Total Benefits 10,724,027 11,402,800 11,256,389 11,849,300 446,500 3.9% Total Labor and Benefits 21,901,953 22,890,700 22,640,098 23,494,300 603,600 2.6% Less: Non-Operating Labor and Benefits Labor Costs 1,062,022 1,048,100 960,168 1,060,800 12,700 1.2% Benefits Allocation 661,849 700,500 644,741 763,300 62,800 9.0% Total Non-Operating Labor and Benefits 1,723,871 1,748,600 1,604,910 1,824,100 75,500 4.3% Operating Labor & Benefits 20,178,082 21,142,100 21,035,189 21,670,200 528,100 2.5% Overhead Allocation (115% of labor costs) 1,221,325 1,205,300 1,104,194 1,219,900 14,600 1.2% Admin Overhead (36.85%)450,058 444,200 406,895 449,500 5,300 1.2% Personnel Overhead (63.15%)771,267 761,100 697,299 770,400 9,300 1.2% Net Operating Labor and Benefits 19,406,815$ 20,381,000$ 20,337,890$ 20,899,800$ 518,800$ 2.5% Labor and Benefits Budget to Budget VarianceFY 2016 140 138 135 04080120 Full - Time Equivalent (FTE) FY 2017 Budget FY 2016 FY 2015 * Actual unaudited 128 Potable Recycled Sewer Developer Reimbursed- CIP Total Operating Labor Costs 9,703,500$ 507,700$ 373,000$ -$ 10,584,200$ Benefits 10,287,900 462,800 335,300 - 11,086,000 Overhead Allocation-Personnel (1,410,100) 368,700 271,000 - (770,400) Total Operating Labor and Benefits 18,581,300 1,339,200 979,300 - 20,899,800 CIP Labor Costs 441,400 186,300 135,800 297,300 1,060,800 Benefits 315,100 132,800 86,300 229,100 763,300 Overhead Allocation-Personnel 320,600 135,300 98,600 215,900 770,400 Total CIP Labor and Benefits 1,077,100 454,400 320,700 742,300 2,594,500 Total Labor and Benefits 19,658,400$ 1,793,600$ 1,300,000$ 742,300$ 23,494,300$ Potable-Operating 18,581,300$ 79.1% Potable-CIP 1,077,100 4.6% Sewer-Operating 979,300 4.2% Sewer-CIP 320,700 1.4% Recycle-Operating 1,339,200 5.7% Recycle-CIP 454,400 1.9% Develeper Reimbursed-CIP 742,300 3.1% 23,494,300$ 100.0% Labor and Benefits by Fund - Fiscal Year 2017 129 FY 2016 General Manager 5 5 6 (1) Total FTE - General Manager 5 5 6 Administrative Services Administrative Services Management 3 3 3 Human Resources 3 3 3 Purchasing 7 6 5 (2) Safety 1 1 1 IT Services 8 9 7 (2) Geographic Information System (GIS)4 4 4 (2) Total FTE - Administrative Services 26 26 23 Finance Financial Management 3 3 3 Controller and Budgetary Services 5 5 5 Treasury and Accounting Services 6 6 6 Customer Service 15 13 12 (1), (2) Conservation 1 1 1 Meter Maintenance 4 4 4 Total FTE - Finance 34 32 31 Operations Operations Management 2 3 3 (1) Water System Operations 21 19 16 (1) Utility Maintenance/Construction 26 27 27 (1) Total FTE - Operations 56 56 51 Engineering Engineering Management 3 3 3 Engineering 16 16 21 Total FTE - Engineering 19 19 24 (1) District Total Position Count 140 138 135 Position Count by Department FY 2015 FY 2017 (2) The District’s strategic planning efforts of streamlining business processes enabled the District to be more efficient and provided an opportunity to reduce staffing. (1) Positions were re-classified and/or transferred as part of streamlining the District's organizational structure. 130 FY 2016 Lab Intern 0 0 1 Senior Civil Engineer 1 0 0 (1), (2) Total Contract/Temporary Employees 1 0 1 General Manager 6.00 4.4% Administrative Services 23.00 17.0% Finance 31.00 23.0% Operations 51.00 37.8% Engineering 24.00 17.8% Total 135.00 100.0% (1) Positions were re-classified and/or transferred as part of streamlining the District's organizational structure. (2) The District’s strategic planning efforts of streamlining business processes enabled the District to be more efficient and provided an opportunity to reduce staffing. Contract / Temporary Employees FY 2015 FY 2017 FY 2017 Position Count by Department 131 FY 2015 FY 2016 FY 2017 Actual Budget Actual* Budget $% Administrative Expenditures Directors' Fees 20,382$ 30,000$ 22,100$ 33,000$ 3,000$ 10.0% Travel and Meetings 158,205 214,400 164,590 208,600 (5,800) (2.7%) Conservation and Outreach 144,026 176,900 150,060 177,400 500 0.3% General Office Expense 257,756 284,700 236,868 265,500 (19,200) (6.7%) Equipment 1,233,988 1,112,300 1,062,675 1,129,100 16,800 1.5% Fees 513,545 499,000 509,283 632,800 133,800 26.8% Services 1,619,936 2,409,800 1,735,752 2,082,400 (327,400) (13.6%) Training 77,232 99,000 68,007 126,000 27,000 27.3% Utilities 14,184 14,900 26,445 14,900 - - General Expenses 821,303 836,000 827,274 825,000 (11,000) (1.3%) Bad Debt Expense 93,491 155,000 114,220 105,000 (50,000) (32.3%) Subtotal before Overhead 4,954,048 5,832,000 4,917,274 5,599,700 (232,300) (4.0%) Less: Overhead Allocation (450,058) (444,200) (406,895) (449,600) (5,400) - Total Expenditures 4,503,990$ 5,387,800$ 4,510,379$ 5,150,100$ (237,700)$ (4.4%) 4,702,612$ 5,605,400$ 5,744,548$ 6,424,700$ Directors' Fees 33,000$ 0.6% Travel and Meetings 208,600 3.7% Conservation & Outreach 177,400 3.2% General Office Expense 265,500 4.7% Equipment 1,129,100 20.1% Fees 632,800 11.3% Services 2,082,400 37.2% Training 126,000 2.3% Utilities 14,900 0.3% General Expense 825,000 14.7% Bad Debt Expense 105,000 1.9% 5,599,700 100.0% Less: Overhead Allocation (449,600) Total Administrative Expenses 5,150,100$ Administrative Expenditures - Total Budget to Budget Variance FY 2017 Total Administrative Expenditures, in thousands ($) FY 2016 * Actual unaudited 132 FY 2015 FY 2016 FY 2017 Actual Budget Actual* Budget $ % Materials and Maintenance Fuel and Oil 196,397$ 250,600$ 141,819$ 242,300$ (8,300)$ (3.3%) Meters and Materials 111,821 113,800 176,102 159,200 45,400 39.9% Fleet Parts and Equipment 123,056 128,900 122,792 129,800 900 0.7% Infrastructure Equipment & Supplies 512,739 621,300 505,469 626,700 5,400 0.9% Chemicals 349,655 400,600 268,680 364,300 (36,300) (9.1%) Safety Equipment 40,773 127,300 81,155 52,500 (74,800) (58.8%) Laboratory Equipment and Supplies 43,847 40,000 39,977 45,300 5,300 13.3% Other Materials and Supplies 180,188 190,500 161,229 182,300 (8,200) (4.3%) Building and Grounds Materials 55,375 47,900 56,663 56,000 8,100 16.9% Contracted Services 517,413 695,500 518,122 762,700 67,200 9.7% Subtotal Materials and Maintenance 2,131,264 2,616,400 2,072,008 2,621,100 4,700 0.2% Sewer Charges Metro O&M Costs 1,020,276 815,000 812,536 655,000 (160,000) (19.6%) Spring Valley Sewer Charge 188,237 181,400 218,631 180,200 (1,200) (0.7%) Subtotal Sewer Charges 1,208,513 996,400 1,031,167 835,200 (161,200) (16.2%) Total Expenditures 3,339,777$ 3,612,800$ 3,103,175$ 3,456,300$ (156,500)$ (4.3%) Fuel and Oil 242,300$ 7.0% Meters and Materials 159,200 4.6% Fleet Parts and Equipment 129,800 3.8% Infrastructure Equipment and Supplies 626,700 18.2% Chemicals 364,300 10.5% Safety Equipment 52,500 1.5% Laboratory Equipment and Supplies 45,300 1.2% Other Materials and Supplies 182,300 5.3% Building and Grounds Materials 56,000 1.6% Contracted Services 762,700 22.1% Sewer Charges 835,200 24.2% 3,456,300$ 100.0% Materials and Maintenance Expenditures - Total Budget to Budget Variance FY 2017 Materials and Maintenance Expenditures FY 2016 * Actual unaudited 133 FY 2015 FY 2016 FY 2017 Budget to Budget Actual Budget Actual* Budget Variance Departmental Expenditures BBoard of Directors 95,949$ 107,100$ 94,910$ 120,300$ 13,200$ GGeneral Manager 1,386,637 1,605,900 1,613,499 1,737,600 131,700 GGeneral Expense 2,309,023 2,019,400 2,186,585 2,006,400 (13,000) A Administrative Services 6,338,873 6,681,800 6,020,287 6,324,900 (356,900) F Finance 5,496,511 6,128,400 5,603,691 5,858,600 (269,800) WWater Operations 9,991,323 10,911,400 10,383,742 11,316,700 405,300 E Engineering 2,853,591 3,132,900 3,152,924 3,361,700 228,800 T Total Departmental Expenditures 28,471,907 30,586,900 29,055,638 30,726,200 139,300 Less: Overhead Allocation (1,221,325) (1,205,300) (1,104,194) (1,219,900) (14,600) Net Departmental Expenditures 27,250,582 29,381,600 27,951,444 29,506,300 124,700 Non-Departmental Expenditures Water Purchases 46,249,959 45,984,500 43,863,330 47,422,400 1,437,900 Power 3,048,335 3,112,800 2,697,915 2,938,000 (174,800) Transfer to General Fund Reserve - - - 2,854,300 2,854,300 Expansion Reserve 2,538,900 2,695,800 2,695,800 4,093,600 1,397,800 Betterment Reserve 3,530,000 2,400,000 2,400,000 3,466,400 1,066,400 Replacement Reserve 3,270,200 3,421,000 3,421,000 464,500 (2,956,500) Transfer to Sewer General Fund 553,800 - - - - Transfer to Potable General Fund 1,583,800 - - - - Transfer to Sewer Replacement 127,000 1,199,300 1,199,300 - (1,199,300) Transfer to OPEB 647,100 1,006,000 1,006,000 961,000 (45,000) Transfer to New Supply Reserve 705,000 35,000 35,000 35,000 - Total Non-Departmental Expenditure 62,254,094 59,854,400 57,318,345 62,235,200 2,380,800 Total Operating Expenditures 89,504,676$ 89,236,000$ 85,269,789$ 91,741,500$ 2,505,500$ FY 2017 Funding Source by Department, in Millions ($) FY 2016 Operating Expenditures by Department $0 $2,000 $4,000 $6,000 $8,000 $10,000 $12,000 Board of Directors General Manager Administrative Services Finance Water Operations Engineering General Expense Potable Recycled Sewer * Actual unaudited 134 FY 2015 FY 2016 FY 2017 Budget to Budget Actual Budget Actual* Budget Variance Departmental Expenditures Labor and Benefits 20,178,082$ 21,142,100$ 21,035,189$ 21,670,200$ 528,100$ Director's Fees 20,382 30,000 22,100 33,000 3,000 Travel and Meetings 158,205 214,400 164,590 208,600 (5,800) Conservation and Outreach 144,026 176,900 150,060 177,400 500 General Office Expense 257,756 284,700 236,868 265,500 (19,200) Equipment 1,233,988 1,112,300 1,062,675 1,129,100 16,800 Fees 1,334,848 1,335,000 1,336,557 1,457,800 122,800 Services 1,619,936 2,409,800 1,735,752 2,082,400 (327,400) Training 77,232 99,000 68,007 126,000 27,000 Materials & Maintenance 2,131,264 2,616,400 2,072,008 2,621,100 4,700 Power and Utilities 14,184 14,900 26,445 14,900 - Sewer Charges 1,208,513 996,400 1,031,167 835,200 (161,200) Bad Debt Expense 93,491 155,000 114,220 105,000 (50,000) Total Departmental Expenditures 28,471,907 30,586,900 29,055,638 30,726,200 139,300 Less: Overhead Allocation (1,221,325) (1,205,300) (1,104,194) (1,219,900) (14,600) Net Departmental Expenditures 27,250,582 29,381,600 27,951,444 29,506,300 124,700 Non-Departmental Expenditures Water Purchases 46,249,959 45,984,500 43,863,330 47,422,400 1,437,900 Power 3,048,335 3,112,800 2,697,915 2,938,000 (174,800) Transfer to General Fund Reserve - - - 2,854,300 2,854,300 Expansion Reserve 2,538,900 2,695,800 2,695,800 4,093,600 1,397,800 Betterment Reserve 3,530,000 2,400,000 2,400,000 3,466,400 1,066,400 Replacement Reserve 3,270,200 3,421,000 3,421,000 464,500 (2,956,500) Transfer to Sewer General Fund 553,800 - - - - Transfer to General Fund Reserve 1,583,800 - - - - Transfer to Sewer Replacement 127,000 1,199,300 1,199,300 - (1,199,300) Transfer to OPEB 647,100 1,006,000 1,006,000 961,000 (45,000) Transfer to New Supply Fund 705,000 35,000 35,000 35,000 - Total Non-Departmental Expenditures 62,254,094 59,854,400 57,318,345 62,235,200 2,380,800 Total Operating Expenditures 89,504,676$ 89,236,000$ 85,269,789$ 91,741,500$ 2,505,500$ FY 2016 Operating Expenditures by Object * Actual unaudited 135 136 Board of Directors Mission Statement To provide safe, reliable water, recycled water, and wastewater services to our community in an innovative, cost efficient, water-wise, and environmentally responsible manner. Mark Robak Treasurer Division 5 Tim Smith Division 1 Mitchell Thompson Vice President Division 2 Jose Lopez President Division 4 Gary Croucher Division 3 Board of Directors The Otay Water District is a revenue- neutral public agency established in accordance with the California Water Code. This not-for-profit status means Otay has no private shareholders, pays no dividends and therefore does not report to, nor answer to the California Public Utilities Commission. The District does, however, answer to the public through a five-member Board of Directors. Each Director is elected by voters within their respective division boundaries to represent the public's interest with regard to rates for service, taxes, policies, ordinances, and other matters related to the management and operation of the Otay Water District. Directors serve four- year, alternating terms on the Board. 137 FY 2015 FY 2016 FY 2016 FY 2017 Actual Budget Actual* Budget Board of Directors 95,949$ 107,100$ 94,910$ 120,300$ Total Expenses 95,949 107,100 94,910 120,300 FY 2015 FY 2016 FY 2017 Actual Budget Actual*Budget Benefits 69,094 61,600 67,338 71,800 Director's Fees 20,382 30,000 22,100 33,000 Travel and Meetings 6,473 15,500 5,472 15,500 Total Expenses 95,949$ 107,100$ 94,910$ 120,300$ Board of Directors - Expenses Department Budget vs. Actual, in thousands ($) FY 2016 Object $0 $30 $60 $90 $120 2013 2014 2015 2016 2017 11 2 10 9 11 5 10 7 12 0 87 10 0 96 95 Budget Actual * Actual unaudited 138 Director’s Division Boundaries 139 140 General Manager Mission To provide high value water and wastewater services to the customers of the Otay Water District, in a professional, effective, and efficient manner. General Manager’s Vision “A District that is at the forefront in innovations to provide water services at affordable rates, with a reputation for outstanding customer service.” C Key Challenge Our key challenge, as District staff, is to quantify and demonstrate our commitment and the ability to optimize our resources, business processes, and technology to achieve the strategic plan goals. We, as a team, commit to regularly assess and document how our decisions and work practices accomplish our goals and objectives. E 141 Position Title FY 2015 FY 2016 FY 2017 General Manager 111 Assistant General Manager 111 District Secretary 111 Sr. Confidential Executive Secretary 111 Communications Officer 1 1 1 Communications Assistant 0 0 1 Total 556 District Position Count - 135 General Manager Department - (6 Positions) General Manager - Position Count Board of Directors 1111 General Manager 1211 District Secretary 1211 Sr. Confidential Executive Secretary 1211 Communications Officer 1211 Assistant General Manager 2111 Communications Assistant 1211 142 FY 2015 FY 2016 FY 2016 FY 2017 Actual Budget Actual* Budget General Manager 1,061,445$ 1,263,300$ 1,277,007$ 1,384,800$ Assistant General Manager 325,192 342,600 336,492 352,800 Total Expenses 1,386,637 1,605,900 1,613,499 1,737,600 -$ FY 2015 FY 2016 FY 2017 Actual Budget Actual* Budget Labor and Benefits 1,152,471 1,199,600 1,203,379 1,349,200 Travel and Meetings 44,127 54,600 48,983 54,700 Conservation and Outreach 4,061 6,000 7,914 6,000 General Office Expense 2,449 1,700 1,243 1,700 Equipment 2,400 3,000 4,896 3,000 Fees 57,930 48,000 49,181 81,000 Services 123,049 193,000 266,675 122,000 Materials & Maintenance - 100,000 31,123 120,000 Miscellaneous 150 - 105 - Total Expenses 1,386,637$ 1,605,900$ 1,613,499$ 1,737,600$ General Manager - Expenses Department Budget vs. Actual, in thousands ($) FY 2016 Object $1,000 $1,300 $1,600 $1,900 2013 2014 2015 2016 2017 1, 4 8 8 1, 4 4 5 1, 5 6 2 1, 6 0 6 1, 7 3 8 1, 4 1 9 1, 3 5 4 1, 3 8 7 1, 6 1 3 Budget Actual * Actual unaudited 143 General Manager Services We Provide The General Manager’s office provides leadership and direction for all District services and operations including potable, recycled, and the treatment plant. As head of the agency, the General Manager interacts with the Board of Directors to set policies and strategic direction and ensures that all applicable laws and regulations are met. The General Manager oversees, coordinates, and directs the development and execution of annual plans and the operating and capital improvement projects. The General Manager represents the District in establishing and maintaining relationships with member agencies and external organizations. The General Manager is also focused on executing the District’s mission, Strategic Plan and Board priorities. Accomplishments – Fiscal Year 2015-2016  Otay Water District continues to be one of the lower cost water service providers of San Diego County’s 22 public water agencies.  The District completed the 2015 Urban Water Management Plan and updated the 2015 Integrated Water Resources Plan. The Urban Water Management Plan was filed with the State Department of Water Resources. This plan addresses the requirements of the California Water Code; provides useful information to the public about the District’s water supplies and water management programs; and provides a framework for water planning to minimize the negative effects of potential water shortages. The purpose of the Integrated Water Resources Plan is to identify and conceptually develop a diverse range of water supply projects to meet long-range water supply needs.  The District completed phase two of the FY 2015-2018 Strategic Plan, which focused on the successful implementation and rapid adoption of new business systems and technology solutions, allowing the District to improve efficiencies and streamline work processes. This helps the District to sustain a growing customer base with a reduced work force.  In FY 2016, the District successfully refinanced its 2007 Certificates of Participation (COPs), saving its customers more than $5.6 million.  The District completed the draft Environmental Impact Report/Environmental Impact Statement (EIR/EIS), in conjunction with the U.S. State Department, for the Otay Mesa Conveyance and Disinfection System Project. The EIR/EIS was submitted for its 45-day public review period. This document looks at the environmental effects of a proposed pipeline to convey desalinated water, produced at a desalination plant in Rosarito, Mexico, across the U.S./Mexico border to the District’s Roll Reservoir. Completion of this document is a requirement for obtaining a Presidential Permit for receiving water across the border.  The District responded to more than 500 reports of water waste that resulted in more efficient and effective water conservation efforts.  The District successfully responded to the state’s drought emergency and reduced potable usage by 19.0% over 2013 levels. 144 General Manager  The District maintained a 100 percent compliance with both the rate of water quality parameters and the goal of zero sanitary sewer overflows.  In FY 2016, the District decreased labor costs by $254,000. It reduced two full-time equivalent (FTE) positions by instituting efficiency programs, which helps minimize the impact of higher water costs from wholesalers. Since FY 2007, the District has experienced a reduction of 36.75 FTEs, or 21.0%. In the same timeframe, the number of customers served per FTE has grown from 301 to 396, an increase of 31.6%. From FY 2007 to FY 2016, staffing reductions have resulted in a cumulative savings of $24,136,200. These savings have helped to lessen the impact of higher wholesale water costs to the District’s ratepayers.  The District enhanced its otaywater.gov website. The enhancements included improved visual appeal, navigation, and search functionality. Improvements also included embedding an eProcurement BidSync System to enable the District to efficiently conduct business and manage contracts.  As part of the District’s successful Leak Detection and Repair Program, staff surveyed 150 miles of potable pipelines. The survey focused on pipelines that were installed in 1985 and earlier. District staff found and repaired four leaks in its distribution system.  A $425,000 Water Conservation Plan Grant was secured from the Pio Pico Energy Center and will support the District’s Leak Detection and Leak Repair Program for FY 2017 and FY 2018.  The District certified the Final Environmental Impact Report as part of the Otay Interconnect Pipeline. The project will increase the District’s potable water supply flexibility and reliability.  For the last four years, the District received the “Distinguished Owner Honoree” award from the Construction Management Association of America – San Diego Chapter.  For the twelfth consecutive year, the District was awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA), for its Comprehensive Annual Financial Report (CAFR).  For the twelfth consecutive year, the District has met nationally recognized guidelines and was awarded the Distinguished Budget Presentation award for the Fiscal Year 2015-2016 Budget by the Government Finance Officers Association.  For the tenth consecutive year, the District was awarded the Operating Budget Excellence Award for the Fiscal Year 2015-2016 Budget by the California Society of Municipal Finance Officers (CSMFO).  For the eleventh consecutive year, the CSMFO awarded the District the Capital Budgeting Excellence Award for the Fiscal Year 2015-2016 Capital Improvement Program Budget.  The District received the Target Solutions Milestone Award for using the online training system to train and keep District employees safe since 2000. 145145 146 Administrative Services - General Mission Statement To provide support to the Board of Directors, the General Manager, and District staff by identifying and meeting objectives to satisfy the needs of our customers by providing, through best management practices, the full range of employer and employee services, administrative services, risk management, safety and security, and emergency preparedness and response, and strategic planning. Department Responsibilities The Administrative Services Department, under the general direction of the Assistant General Manager and Chief of Administrative Services, provides the following support services: Human Resources, Purchasing, Facilities Maintenance, and Safety and Security Administration, Information Technology, and Strategic Planning. The department also coordinates assigned activities with other departments and outside agencies, and provides highly responsible and complex administrative support to the District, Board of Directors, and General Manager. 147 Position Title FY 2015 FY 2016 FY 2017 Chief, Administrative Services 101 Assistant Chief, Administrative Services 010 Confidential Executive Secretary 111 Confidential Secretary 111 Human Resources Manager 111 Senior Human Resources Analyst 111 Human Resources Analyst 111 Purchasing & Facilities Manager 111 Senior Buyer 111 Assistant Buyer 110 Senior Warehouse Worker 001 Lead Warehouse/Facilities Worker 100 Warehouse/Delivery Worker 110 Facilities Maintenance Technician 2 2 2 Safety & Security Specialist 1 1 1 Chief Information Officer 1 1 0 IT Manager 111 GIS Manager 1 11 GIS Programmer/Analyst 111 GIS Analyst 111 GIS Technician 111 Network Engineer 111 Database Administrator 111 Data Systems Technician 011 Lead Business System Analyst 100 System Support Analyst 011 Business System Analyst I and II 222 Network Analyst 110 Total 26 26 23 Administrative Services - Position Count District Position Count - 135 Administrative Services Department - (23 Positions) Purchasing and Facilities 2231 (5) Human Resources 2221 (3) Chief, Administrative Services 2211 (3) IT Services 2411 (11) GIS 2431 (4) Safety and Security Administration 2241 (1) 148 FY 2015 FY 2016 FY 2016 FY 2017 Actual (1)Budget (1)Actual* Budget Administrative Chief 1,397,196$ 816,300$ 850,853$ 555,800$ Human Resources 694,264 730,000 661,366 824,900 Purchasing and Facilities 1,221,411 1,416,600 1,311,242 1,321,600 Safety and Security 362,389 412,900 303,123 361,300 IT Services 1,738,011 2,376,400 1,999,749 2,276,000 Geographic Information System (GIS) 925,602 929,600 893,954 985,300 Total Expenses 6,338,873 6,681,800 6,020,287 6,324,900 FY 2015 FY 2016 FY 2017 Actual (1)Budget (1)Actual* Budget Labor and Benefits 4,043,199 4,392,600 4,050,829 4,074,300 Travel and Meetings 43,021 50,000 41,086 52,100 General Office Expense 101,102 107,400 76,620 94,000 Equipment 1,199,608 1,065,300 1,024,550 1,064,800 Fees 750 - 977 - Services 522,412 541,600 353,922 552,000 Training 63,592 77,000 53,299 103,000 Materials & Maintenance 351,005 433,000 392,559 369,800 Power and Utilities 14,184 14,900 26,445 14,900 Total Expenses 6,338,873$ 6,681,800$ 6,020,287$ 6,324,900$ -$ -$ -$ -$ (1) In FY 2017, IT and Strategic Planning was consolidated into Administrative Services. Prior year budget and actuals have been adjusted for comparative purposes. Budget vs. Actual, in thousands ($) Administrative Services - Expenses Department FY 2016 Object $5,200 $5,400 $5,600 $5,800 $6,000 $6,200 $6,400 $6,600 $6,800 2013 2014 2015 2016 2017 6, 6 7 5 6, 2 0 5 6, 3 6 9 6, 6 8 2 6, 3 2 5 5, 7 9 7 5, 9 3 7 6, 3 3 9 6, 0 2 0 Budget Actual * Actual unaudited 149 Administrative Services – Human Resources Services We Provide Human Resources, under the direction of the Chief of Administrative Services, provides the following support services: recruits, selects and ensures the retention of qualified employees; develops, implements and administers policies, procedures, collective bargaining contracts and employee programs; ensures up-to-date classification plans and a competitive compensation program; manages benefits programs for employees and retirees; manages the Workers’ Compensation program; oversees employee performance through staff management to include employee training and development; recognition and incentives; performance evaluation process and employee discipline; ensures legal compliance; and implements work/life balance initiatives to include a wellness program. Accomplishments – Fiscal Year 2015-2016  Decreased labor costs by participating with other departments to reduce three (3) full-time positions by instituting efficiency programs, which minimize the impact of higher water costs from wholesalers, resulting in District-wide annual cost-savings of approximately $479,000.  Collaborated with Third Party Administrator to implement and file required individual and IRS tax reporting (1095-C and 1094-C) related to Health Care Reform.  Planned and developed Request for Proposal for benefit consulting services. Oversaw and participated in the bidding interviews to select and negotiate a new three-year benefit consultant contract.  Coordinated and received credit for the Special District Risk Management Authority’s (SDRMA) Credit Incentive Program. The District received a combined credit of approximately $160,700, which was applied towards the Property/Liability and Workers’ Compensation premiums. This credit includes CIP, longevity distribution, and a 5% multi-program discount. In addition to this credit, the District received a high-volume discount in the amount of approximately $273,100.  Developed and/or updated various policies, procedures and programs to include Drug Free Workplace; Department of Transportation Drug & Alcohol Testing; Smoking, Tobacco and Nicotine Free Campus; and Use of Information Technology Resources and Telecommunications Systems.  Implemented additional Emergency Preparedness practices with the Safety and Security Specialist and members of the Emergency Operations Center to be further prepared for disasters or emergencies. 150 Administrative Services – Purchasing and Facilities Services We Provide The Purchasing Division, under general direction of the Chief of Administrative, oversees the general purchasing standards used within the District; purchases and oversees the procurement of supplies, equipment, and services; controls and administers the District’s standard materials inventory; disposes of surplus materials, equipment, and supplies; assists in the acquisition and disposal of non-infrastructure related real estate; performs non-structural facility maintenance work; and administers and manages outsourced facility maintenance service contracts. Also, as needed, provides complex purchasing related analysis and consultation to the District and General Manager. Accomplishments – Fiscal Year 2015-2016  Facilities staff made changes to the Operations and Administrative HVAC systems, thermostats and Trane building management software to fine-tune schedules and to idle unoccupied rooms in order to capture greater energy savings.  For transparent, standardized and efficient procurement processes, Purchasing implemented an online eProcurement system, BidSync, to source suppliers, manage solicitations and award agreements for goods, services and public works.  Purchasing staff was able to eliminate one position, the Assistant Buyer, by leveraging changes in technology and procedures. This was also achieved without a layoff when the Assistant Buyer transferred to an open Warehouse position.  Migrated the District’s legacy ground loop fuel authorization and management system to a modern Orpak wireless system that provides greater reliability and enhanced reporting.  Facilities staff began a District-wide security gate upgrade program replacing double panel gates, mechanical lift rods, chains and combination locks with single swing gates, electromechanical locks and access by key FOB credentials. Access security is improved through ID authorizations and the elimination of chains and combination locks. Personal injuries are reduced by removing lift rods and eliminating pinch points. 151 Administrative Services – Safety and Security Services We Provide Safety and Security, under the direction of the Chief of Administrative, provides the following: assesses the occupational exposure to risk; evaluates hazards and mitigation of safety hazards and risk to injury; directs and supervises accident investigations relating to occupational injuries, fleet incidents and/or damage to, or theft of District property; develops hazardous materials business plans, community right-to-know, Risk Management Prevention and Process Safety Management plans; develops and implements procedures to ensure compliance with safe work practices and determines training needs to address issues; develops, implements and manages safety programs; manages the District’s security program; implements, schedules and coordinates recurring safety training; coordinates the Department of Transportation (DOT), the District’s Drug Free Workplace, and DMV Pull-Notice Programs; and plans and coordinates the District’s emergency preparedness program. Accomplishments – Fiscal Year 2015-2016  Chaired the District completion of the emergency preparedness monthly WebEOC exercises hosted/sponsored by the SDWA and County of San Diego OES. These exercises further prepare the District with response, management, and cooperation of incidents ranging from local to state- wide emergency events.  Completed the second phase of a District-wide program to standardize and modernize physical security, access control, and monitoring and video systems. This project further prepares the District for implementation of the DMP “ENTRE” access control and security management enterprise platform.  The District received the Target Solutions Milestone Award for using its online training platform to train and keep employees safe.  Evaluated regulatory fall protection requirements and improved existing personal protective equipment (PPE) and District practices in use. Provided refresher training to affected staff. Procured updated PPE, replaced the use of 6’ lanyards with self-retracting lifelines, and added guardrail systems for protection of open vaults and manhole lids.  Developed and created an electronic online chemical safety data sheet program. This program is available on the District’s intranet, is accessible on-line and is broken down by sections with a District-wide main folder.  Developed the following in-house occupational health and safety regulatory training and certification programs: crane operator, Bill Jax, and Genie aerial lifts and forklift.  Trained Facilities and Fleet Shop staff on regulatory requirements for Hazardous Waste Operations.  Provided confined space refresher training for all affected District staff using the District’s revised Confined Space (CS) Entry Procedures Program, which included practical hands-on training/instruction on the setup and use of entry and retrieval equipment; CS fall protection requirements; setting up of CS perimeter guardrail protection; harness inspections before use 152 Administrative Services – Safety and Security and donning/doffing; and duties and responsibilities of CS entry crew, supervisor, attendant and entrant; CS entry protocols; and practical exercises.  Supported Operations and Engineering staff with the following District environmental programs: California Accidental Release Program (CalARP), Hazardous Materials Business Plans (HMBP’s), Spill Prevention Control and Countermeasure (SPCC). Participated in related meetings, inspections and related program review.  Reviewed OSHA logs and calculations on District loss time/incident rates and provided Human Resources with tracking options for the Strategic Plan measure.  Worked with SDRMA’s safety consultant to ensure the District was in compliance with safety regulations noted during the assessment of our facilities. 153 Administrative Services – Strategic Planning Services We Provide The Information Technology and Strategic Planning Department provides the following support services: development and implementation of information technology; the District’s Strategic Planning process including the development of long-term strategic initiatives and defining performance measurement metrics; and information system support to the District. The department also provides highly responsible and complex administrative and technical support to the District, General Manager, and Board of Directors. Accomplishments – Fiscal Year 2015-2016  Completed the implementation of the new enterprise workflow automation solution, Nintex. This solution will provide enhancements to business processes and will continue to streamline the essential workflow of business forms that are used throughout the District, which are tied to the enterprise portal, SharePoint. In addition, the solution will also aid in the management of existing District documentation, content lifecycle management, record keeping requirements, and future online service requests. Lastly, Nintex will enable users to now approve and manage desktop forms via their mobile device.  Completed the implementation of a new backflow prevention management solution, XC2. This solution will manage and administer the District’s backflow prevention program by providing new and enhanced analysis and reporting in support of contamination prevention of potable water services throughout the District. This accomplishment is the first in a series of phased deployments to leverage the Cityworks asset management platform coupled with the District’s overall asset management initiatives. 154 Administrative Services – IT Services Services We Provide IT Operations is responsible for day-to-day support of the District’s data center; enterprise business systems network and desktop hardware/software; disaster recovery; telecommunications; mobile and wireless networks; website; and help desk. IT Operations has collateral responsibilities for access control security systems. Accomplishments – Fiscal Year 2015-2016  Completed the re-engineering of business critical systems backup and recovery services. The new backup and recovery landscape entails the co-location of business critical backup systems to an off-site redundant data center. In the event of a major service interruption at the District’s Administrative facilities, the new landscape ensures the continuity of business critical systems by redirecting access to the off-site data center. Other key benefits with this specific accomplishment is reduction of on-site operating costs and technology produced carbon footprint.  Completed the deployment of the District’s new enterprise Cisco Unified Computing System (UCS). The new UCS is the platform for all District enterprise server and business applications. The UCS platform provides new and enhanced management features, increased application performance, reliability, redundancy, security, and scalability. Lastly, the new UCS platform will enable IT staff to quickly respond to future system requests with on-demand virtual machine creation of new server or application environments. 155 Administrative Services – Geographic Information System Services We Provide The GIS group is responsible for the technical and administrative support of the District’s GIS/AM/FM and CAD systems. It is also responsible for the data collection and data QA/QC of the District’s facility data and land-based data. In addition, it provides technical support in designing, developing, documenting and maintaining the District’s database systems and creates database structures that consolidate the conceptual, logical and physical models of data. Accomplishments – Fiscal Year 2015-2016  Completed the redesign of the District’s enterprise GIS system architecture. Staff redesigned the GIS architecture to leverage the many benefits of the new Unified Computing System and virtual server technology. The new design provides enhanced availability, performance, security, and scalability for future GIS service requirements.  Completed the development of the new Pipe Isolation Trace application. In the event of a required water shutdown or service interruption to a specific area, the application provides data about the affected customers, which Customer Service staff can use to prepare information or respond to customers. The application has also automated multiple workflows for emergency shutdown or preventive maintenance use. This application will significantly minimize the time required to gather affected customer information and timely deployment of notifications.  Completed the deployment of a new mobile data collection solution, which complements the District’s field valve exercising Wachs Machines. The Wachs mobile solution automates record valve exercising functions such as turns and high torque information, and electronically collects the associated data. This is a key tool in the valve exercising program and will also support the District’s enterprise asset management goals.  At the annual Esri Water User Conference, the District’s GIS team was recognized by peers across the nation for their presentation titled “Using GIS to Improve Water Distribution Integrity.” The District’s GIS design and representation of pipeline assets is considered an industry best practice. 156 Finance – General Mission Statement To provide timely, accurate, and clear information that optimizes service to the District’s staff and ratepayers. Through continuous improvement, professional service, and effective fiscal policies the Finance Department will ensure that financial resources are collected, recorded, protected, and expended in a fiscally responsible manner. Department Responsibilities The Finance Department, under the general direction of the Chief Financial Officer, provides the following support services: Controller and Budgetary Services, Treasury and Accounting Services, Payroll and Accounts Payable, and Customer Service. The Department ensures the District’s conformance with modern finance, accounting theory and practices, and compliance with applicable state and federal laws. In addition, it provides customer support, meter reading and maintenance, and water conservation outreach programs. The Finance staff provides highly responsible and complex administrative and technical support to the District, General Manager, and Board of Directors. Meter Maintenance Finance Customer Service 157 Position Title FY 2015 FY 2016 FY 2017 Chief Financial Officer 1 1 1 Executive Secretary 111 Secretary 111 Finance Manager, Treasury and Accounting 111 Finance Manager, Controller and Budget 1 1 1 Senior Accountant 4 4 4 Accountant 3 3 3 Accounting Technician 222 Customer Service Manager 2 2 1 Customer Service Supervisor 0 0 1 Lead Customer Service Representative 2 2 1 Customer Service Representative I, II and III 7 6 6 Lead Customer Service Field Representative 1 1 1 Customer Service Field Representative I and II 322 Lead Cross Connection/Meter Maintenance Worker 111 Meter Maintenance Worker I & II (1)333 Senior Conservation Specialist 111 Total 34 32 31 (1) Beginning in FY 2015, Meter Maintenance was moved from Water Operations. Finance - Position Count District Position Count - 135 Finance Department - (31 Positions) Treasury and Accounting Services 2331 (6) Customer Service 2341/2343 (13) Controller and Budgetary Services 2321 (5) Chief Finance Officer - 2311 (3) Meter Maintenance 2342 (4) 158 FY 2015 FY 2016 FY 2016 FY 2017 Actual Budget Actual* Budget Finance Chief 524,447$ 544,600$ 547,874$ 563,700$ Controller and Budgetary Services 830,236 883,300 832,787 911,800 Treasury and Accounting Services 1,289,188 1,364,700 1,372,201 1,410,500 Customer Service 1,964,999 2,115,600 1,868,278 1,938,900 Meter Shop 601,735 626,100 656,403 687,600 Water Conservation 285,906 594,100 326,148 346,100 Total Expenses 5,496,511 6,128,400 5,603,691 5,858,600 FY 2015 FY 2016 FY 2017 Actual Budget Actual* Budget Labor and Benefits 4,475,530 4,687,100 4,450,470 4,654,200 Travel and Meetings 17,611 26,100 17,795 25,600 Conservation and Outreach 139,965 170,900 142,146 171,400 General Office Expense 153,875 167,800 151,896 167,800 Fees 354,813 351,600 355,925 363,900 Services 123,313 432,500 188,468 190,400 Training - 500 180 500 Materials & Maintenance 138,063 136,900 182,696 179,800 Bad Debt Expense 93,341 155,000 114,115 105,000 Total Expenses 5,496,511$ 6,128,400$ 5,603,691$ 5,858,600$ -$ -$ -$ -$ Finance - Expenses Department Budget vs. Actual, in thousands ($) FY 2016 Object $2,500 $4,000 $5,500 2013 2014 2015 2016 2017 4, 8 8 7 5, 8 6 3 5, 8 1 7 6, 1 2 8 5, 8 5 9 5, 6 5 5 5, 4 6 3 5, 4 9 7 5, 6 0 4 Budget Actual * Actual unaudited 159 Finance – Controller and Budgetary Services Services We Provide The Controller and Budgetary Services Division is responsible for developing and publishing the annual operating and capital budgets as well as preparing the six-year financial plan and proposing rate changes. Staff prepares monthly and annual reports, monitors budget variances, and coordinates interactions with outside agencies. This division is also responsible for the bi-weekly payroll of 138 full-time and temporary employees using the District’s Eden System. Timesheets and pay stubs are collected and distributed electronically. Benefits and deductions are processed bi- weekly. Federal and state tax returns are filed on a quarterly basis and W2s are filed annually. Accomplishments – Fiscal Year 2015-2016  For the twelfth consecutive year the District has met nationally recognized guidelines and has been awarded the Distinguished Budget Presentation award for the Fiscal Year 2015- 2016 Budget by the Government Finance Officers Association. To receive this award, a governmental unit must publish a budget document that meets program criteria as a policy document, a financial plan, an operations guide and a communications device. This is a significant achievement and is the highest form of recognition in governmental budgeting.  The District has been awarded the Operating Budget Excellence Award for the Fiscal Year 2015-2016 Budget by the California Society of Municipal Finance Officers (CSMFO). This is the tenth consecutive year the District has been recognized as having prepared a budget document or a communication tool that meets certain standards.  The CSMFO has awarded the District the Capital Budgeting Excellence Award for the Fiscal Year 2015-2016 Capital Improvement Program Budget. This award recognizes agencies that have prepared a Capital Improvement Budget document or a communication tool that meets certain standards. This is the eleventh consecutive year the District has received this award. 160 Finance – Treasury and Accounting Services Services We Provide The Treasury and Accounting Services Division coordinates and directs the activities of the general ledger accounting, audit; banking and cash management; investments and treasury functions, debt financing; job costing, cost accounting, fixed assets, and contract review. The division is responsible for the accounts payable process which pays approximately 750 invoices on a monthly basis. It is also responsible for completing the District’s annual financial audit and publishing of the Comprehensive Annual Financial Report (CAFR). The division conducts an annual review of the District’s Investment Policy, as required by law, with approval by the Board of Directors. It provides financial analysis and review of staff projects and operational business proposals. It also assists in the preparation of the District’s annual operating and capital budgets, along with updating the rate model and the six-year financial plan. Accomplishments – Fiscal Year 2015-2016  The District has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA), for the Comprehensive Annual Financial Report (CAFR) for fiscal year ending June 30, 2015. This is the twelfth consecutive year the District has received this award which is the highest form of recognition in the area of governmental accounting and financial reporting. It clearly demonstrates how the District takes great care in maintaining high financial standards. 161 Finance – Customer Services Services We Provide The Customer Service Division is responsible for providing billing, receipting, collections, and customer care for water and sewer services in addition to assisting with water conservation. The billing and customer care teams handle the coordination of billing and receipting of approximately 49,000 accounts per month. Customers have the choice of receiving either a paper bill or an electronic bill. Various payment options include ACH, web, IVR (telephone), and the convenience of multiple locations for walk-in payments. The District has an automated phone system and web portal which give customers access to their account information 24/7. If they desire more personal service, the customer care team handles an average of 5,000 customer calls per month. The water conservation staff promotes and conducts residential and large landscape surveys, promotes the Water Conservation Garden as a resource, participates in outreach events throughout the community, helps fund and promote a variety of incentive and other programs available to its customers, and manages the District’s Water Shortage Response Plan as well as its water waste reporting program. The Meter Shop is responsible for the installation and maintenance of all meters in the District. They manage the District’s backflow/cross-connection prevention which includes annual testing of devices and water meters to ensure the continued safety of the potable water system. Staff responds to customer issues regarding meter accuracy, conducts site audits, and maintains records as required by various regulatory agencies. The Meter Reading team reads approximately 49,000 potable, recycled, and District meters a month using automatic meter reading technology. Accomplishments – Fiscal Year 2015-2016  With ongoing process improvements, the Customer Service department has gained greater efficiency. After the retirement of a Customer Service Manager in August 2015, a reorganization took place that reduced staff by one FTE.  Customer Service staff responded to more than 500 reports of water waste, resulting in more efficient and effective water conservation efforts.  Replaced the collection agency used for secondary collection services on unpaid water bills. The change in agencies will allow the District to keep an additional 15% on all collectables.  The District’s large meter testing program aims to test all meters 3” or larger at least once every three years. This year staff tested over 120 large meters and repaired or replaced 25 failing meters. The testing and repair process ensures the District’s largest users are billed for all water used.  Meter Shop staff has implemented a new backflow program tracking system. This new system will allow greater administrative flexibility in entering backflow test reports. 162 Water Operations - General Mission Statement To provide all operations and maintenance service in the most efficient, safe, and cost effective manner to all internal and external customers, and to strive to continually improve the level of service. Department Responsibilities The Water Operations Department, under the general direction of the Chief of Water Operations, provides the following support services: Potable and Recycled Water System Operations, Construction Maintenance, Sewer Collection, and Wastewater Treatment. The department provides highly responsible and complex technical and administrative support to the District, General Manager, and Board of Directors. 163 Water Operations - Position Count District Position Count - 135 Water Operations Department - (51 Positions) Utility Services Utility Maintenance 3232 (18) Fleet Maintenance 3233 (4) Pump & Electrical 3236 (5) Water Operations Water System Operations 3221 (1) Water System 3225 (13) SCADA System 3227 (2) Laboratory 3243 (1) Reclamation Plant 3244 (4) Chief, Water Operations 3211 (2) Assistant Chief of Water Operations 3231 (1) 164 Position Title FY 2015 FY 2016 FY 2017 Chief, Water Operations 1 1 1 Assistant Chief, Water Operations 0 1 1 Executive Secretary 1 1 1 System Operations Manager 1 1 1 Water Systems Supervisor 1 1 1 Recycled Water Systems Supervisor 1 1 0 Lead Water Systems Operator 2 2 2 Water Systems Operator I, II, and III 9 8 8 Valve Maintenance Worker 1 0 0 Senior SCADA Instrumentation Technician 1 2 2 Sr. Disinfection Technician 2 2 2 SCADA Instrumentation Technician 1 0 0 Recycled Water Distribution Operator 4 4 0 Utility Services Manager 100 Utility Maintenance Supervisor 222 Utility Crew Leader 3 3 3 Utility Workers I and II 8 8 8 Senior Utility/Equiment Operator 3 3 3 Valve Maintenance Worker 0 2 2 Pump Electric Supervisor 1 1 1 Electrician I and II 2 2 2 Pump Mechanic I and II 2 2 2 Fleet Maintenance Supervisor 1 1 1 Meter Maintenance Worker I & II (1)000 Equipment Mechanic I and II 3 3 3 Reclamation Plant Supervisor 1 1 1 Lead Reclamation Plant Operator 1 1 1 Reclamation Plant Operator I, II, III 2 2 2 Laboratory Analysts 1 1 1 Total 565651 (1) Beginning in FY 2015, Meter Maintenance was moved to Finance. Water Operations - Position Count District Postion Count - 138 Water Operations Department - (51 Positions) 165 FY 2015 FY 2016 FY 2016 FY 2017 Actual (2)Budget (2)Actual* Budget Water Operations Chief 440,401$ 450,300$ 438,881$ 461,600$ Water Systems 5,194,910 5,363,700 5,182,548 5,512,300 Construction Maintenance 4,356,012 5,097,400 4,762,313 5,342,800 Total Expenses 9,991,323 10,911,400 10,383,742 11,316,700 FY 2015 FY 2016 FY 2017 Actual (2)Budget (2)Actual* Budget Labor and Benefits (1)6,753,648 7,264,900 7,428,812 7,821,700 Travel and Meetings 29,911 48,800 35,709 42,400 General Office Expense - 300 666 300 Equipment 32,096 44,000 33,104 61,300 Fees 71,241 61,400 74,347 149,900 Services 243,149 540,100 309,794 445,400 Training 10,680 9,000 4,873 9,000 Materials & Maintenance 1,642,085 1,946,500 1,465,270 1,951,500 Sewer Charges 1,208,513 996,400 1,031,167 835,200 Total Expenses 9,991,323$ 10,911,400$ 10,383,742$ 11,316,700$ (1) Excludes CIP labor and benefits.-$ -$ -$ -$ Water Operations - Expenses Department (2) In FY 2017, the Recycled Division's responsibilities have been reorganized between the Operations and Engineering Departments. Prior year budget and actuals have been adjusted for comparative purposes. Budget vs. Actual, in thousands ($) FY 2016 Object $- $4,000 $8,000 $12,000 2013 2014 2015 2016 2017 11 , 8 5 3 10 , 9 1 3 10 , 9 2 0 10 , 9 1 1 11 , 3 1 7 10 , 4 3 9 10 , 3 1 5 9, 9 9 1 10 , 3 8 4 Budget Actual * Actual unaudited 166 Water Operations – Water System Operations Services We Provide The Water Systems Operations Division encompasses five sections which are responsible for operations and monitoring of the potable and recycled water distribution systems as well as the Ralph W. Chapman Water Recycling Facility. The water system operators monitor and operate the water distribution system to ensure it provides safe, reliable drinking water to the District’s customers. The SCADA staff performs installations, maintenance, updates, and modifications to the SCADA control system and related communications equipment, both for existing facilities as well as CIP projects. The treatment plant staff maintains and operates the District’s sewer treatment plant in order to produce high-quality recycled water to the District’s recycled water customers. The recycled system operators monitor and operate the recycled water distribution system to ensure it provides adequate supply to the District’s recycled water customers and periodically conduct cross- connection tests to ensure that the potable distribution system is completely isolated from the recycled water system. Laboratory staff ensures all regulatory-required sampling, analyses, and reporting is done to meet the requirements from the State Water Resources Control Board for potable water and the Regional Water Quality Control Board for recycled water and the reclamation plant treatment process. Laboratory staff works closely with the water system operators and disinfection staff to monitor and optimize the water quality in the distribution system. They also perform bacteriological sampling and analyses for Utility Maintenance and Engineering to ensure proper disinfection was performed after maintenance or new construction. Accomplishments – Fiscal Year 2015-2016  Staff prepared for and completed a 10-day full treated water shutdown of San Diego County Water Authority’s Pipeline No. 4 from March 20, 2016 to March 26, 2016. Flows from the City of San Diego via the Lower Otay Pump Station and District water storage was used for the South District’s water demands for the duration of this planned shutdown.  The State Water Resources Control Board (SWRCB) determined that special lead and copper testing was required to be performed in areas of potable water distribution systems that typically contain a blend of water produced at the Carlsbad Desalination Plant. Staff prepared a monitoring plan for the areas that receive this water blend. The plan includes sampling dates that meet the deadlines put forth by the State.  The District’s FY 2016 leak detection campaign occurred from February 3, 2016 to March 14, 2016. A total of 150 miles of potable pipelines were surveyed. The survey focused on pipelines that were installed in 1985 and earlier. A total of four leaks were found in the District’s distribution system and were repaired by staff.  Completed improvements to the Ralph W. Chapman Water Reclamation Facility to meet new regulations on industrial discharges of storm water.  Maintained a 100% compliance rate of water quality parameters and a goal of zero sanitary sewer overflows. 167 Water Operations – Water System Operations  The County of San Diego held inspections at all four District sites that are under the California Accidental Release Prevention (CalARP) program with no significant issues reported by the County.  With assistance from the District’s Environmental Compliance Specialist, successfully updated the Spill Prevention Control and Countermeasures (SPCC) plans for the five District sites that are required to have them.  Converted from the existing Supervisory Control and Data Acquisition (SCADA) system to the new iFix SCADA system as the primary means for system control in the potable, recycled and treatment plant.  Successfully transitioned the responsibilities of operating the recycled water distribution system from Engineering to Water Systems staff. 168 Water Operations – Utility Services Maintenance Services We Provide The Utility Maintenance and Construction Division has three sections which provide vital maintenance functions to ensure continuity of the drinking water, recycled water, and wastewater services to District customers while adhering to all applicable regulatory compliance requirements. Utility Maintenance staff maintains all collection and potable distribution and recycled distribution systems, including regular inspection and cleaning of the wastewater collection system. They also exercise valves, install and/or repair main pipelines and service lines expediently, while following all established safety rules and regulations. The Fleet Maintenance staff implements active preventative maintenance practices and repairs on all District vehicles and equipment to ensure optimum performance while establishing fuel efficient operational practices and emissions compliance. Pump and Electrical staff performs preventative, predictive and corrective maintenance on all pumps, motors, switchgear, and control valves in the District and assists with electrical maintenance and installation throughout the District. Accomplishments – Fiscal Year 2015-2016  Repaired a 12-inch emergency water main break on Hillsdale Road in El Cajon on October 7, 2015.  Repaired an 18-inch emergency water main break on Campo Road in Spring Valley on June 8, 2016.  Leveraged the GIS based iWater program to streamline the documentation of maintenance completed on potable, recycled, and collection appurtenances.  Coordinated with the Purchasing Manager to implement the electronic procurement software (BidSync) for the quotes and bids, throughout the department, to streamline the procurement process for goods and services.  Staff continues to effectively manage the As Needed Paving Contract resulting in a cost savings of 64% over the previous 7 years.  Tested, procured, and deployed a replacement valve-exercise machine that automates data entry into the GIS database increasing valve exercise production and efficiency.  A qualified inspector completed the external inspection of all the District’s pressure vessels (surge and hydro pneumatic tanks), with no significant issues noted, as part of the District’s newly established maintenance program.  As a result of gained efficiencies within the Division, Operations staff have assumed the task of inspection of the recycled force main from Engineering. The cost to complete this task without requiring additional staff has been reduced by approximately 20%.  A new emergency general contractor was used by the District for the first time in more than 15 years to complete an emergency repair, thereby, providing the District additional redundancy and flexibility in restoring and maintaining water supply to District customers. 169 170 Engineering - General Mission Statement To provide Engineering, Construction, and Environmental services for the District and for the development community, quality control of future District assets, and expediting of the permitting process, through the use of our dedicated employees and innovative technology with the goal of attaining excellent customer satisfaction. Departmental Responsibilities The Engineering Department, under the general direction of the Chief of Engineering, provides the following support services: Planning, Design, Construction Management, Inspection Project Management, Surveying, and Public Services of all District facilities. The department is responsible for strategic planning; the capital budget; water resources planning; support facilities planning; environmental services; quality control; construction; developer designed and constructed facilities; along with coordinating assigned activities with other District departments and outside agencies. It provides highly responsible and complex administrative and technical support to the District, General Manager, and the Board of Directors. 171 Position Title FY 2015 FY 2016 FY 2017 Chief, Engineering 1 1 1 Executive Secretary 111 Secretary 111 Engineering Manager 222 Senior Civil Engineer 2 2 2 Associate Civil Engineer 0 1 1 Construction Management Specialist 0 0 0 Assistant Civil Engineer I and II 100 Environmental Compliance Specialist 1 1 1 Permit Technicians 2 2 2 Senior Engineering Technician 222 Inspection Supervisor 101 Lead Construction Inspector 010 Construction Inspectors I and II 323 Supervising Land Surveyor 111 Assistant Survey Technician 1 1 1 Field Services Manager 011 Recycled Water Systems Supervisor 001 Recycled Water Distreibution Operator 003 Total 191924 Engineering - Position Count District Position Count - 135 Engineering Department - (24 Positions) Water Resources, Planning, and Design 3321 (6) Environmental Services 3451 (1) Public Services 3421 (3) Field Services 3431 (11) Chief, Engineering 3311 (3) 172 FY 2015 FY 2016 FY 2016 FY 2017 Actual (4)Budget (4)Actual* Budget Engineering Chief 338,021$ 390,700$ 440,056$ 594,100$ Engineering Services (1)728,167 808,500 825,865 721,200 Public Services (2)1,652,289 1,767,800 1,708,742 1,753,300 Environmental Services 135,114 165,900 178,261 293,100 Total Expenses 2,853,591 3,132,900 3,152,924 3,361,700 FY 2015 FY 2016 FY 2017 Actual (4)Budget (4)Actual* Budget Labor and Benefits (3)2,196,415 2,352,900 2,475,049 2,517,600 Travel and Meetings 17,062 19,400 15,545 18,300 General Office Expense 330 7,500 6,443 1,700 Equipment - - 486 - Fees 30,068 38,000 28,853 38,000 Services 606,756 702,600 616,893 772,600 Training 2,960 12,500 9,655 13,500 Total Expenses 2,853,591$ 3,132,900$ 3,152,924$ 3,361,700$ -$ -$ -$ -$ (1) Engineering Services includes Planning, Design, and Water Resources. (2) Public Services includes Public, Construction and Survey Services. (3) Excludes CIP labor and benefits. (4) In FY 2017, the Recycled Division's responsibilities have been reorganized between the Operations and Engineering Departments. Prior year budget and actuals have been adjusted for comparative purposes. Engineering - Expenses Department Budget vs. Actual, in thousands ($) FY 2016 Object 0 500 1,000 1,500 2,000 2,500 3,000 3,500 2013 2014 2015 2016 2017 1, 8 6 2 2, 0 2 6 3, 1 3 3 3, 1 3 3 3, 3 6 2 1, 8 1 7 1,8 2 8 2, 8 5 4 3, 1 5 3 Budget Actual * Actual unaudited 173 Engineering – Water Resources, Planning, Design, and Environmental Services Services We Provide The Planning, Design, Environmental, and Water Resources Divisions provide a variety of services directly related to potable water, recycled water, and sewer services. Water resources staff identifies, negotiates, and develops additional potable and recycled water supplies. Planning staff develops the preliminary design of a project in order to facilitate final design and ultimately construction of the facility. Planning staff also coordinates the review of planning documents related to potential new development. Design staff prepares the design of facilities and advertises projects for bid. Environmental staff coordinates and tracks the project through the construction stage and for a period after construction, if long-term mitigation is required. In addition, staff assists the Operations Department on special design projects related to maintenance of existing facilities including the Ralph W. Chapman Water Reclamation Facility. Additionally, Water Resources staff coordinates with other agencies on regional issues and is responsible for obtaining grants, loans, and cost-sharing opportunities. Accomplishments – Fiscal Year 2015 -2016  Completed the design and construction of interior and exterior coating and upgrades to the 944-1, 944-2, 458-2, 850-3, 711-1 reservoirs. By maintaining reservoirs, the District is improving the water reliability and preserving the useful life of these reservoirs for another 20 years.  Completed construction of State Route 11 (SR-11) Potable Water Utility Relocations – Sequence 1 project. This project relocated three (3) separate District water mains of various sizes and materials to clear the right-of-way for SR-11.  Completed construction of the State Routes 11/125/905 Connector Ramps Blow Off Relocation project. This project relocated an existing 6-inch potable water blow off to clear the right of way for a future bridge across Otay Lakes Road.  Completed design and construction of two (2) new potable water pressure reducing stations in the 624 pressure zone and improvements to an existing recycled water pressure reducing station located in the 944 recycled water pressure zone. The two (2) new potable water pressure reducing stations have improved fire flow and enhanced system reliability. Improvements to the recycled water pressure reducing station have reduced the risk of filling the vault with rain water and associated damage to equipment.  Completed the design and replacement of three (3) aging return activated sludge pumps, motors, and variable frequency drives at the Ralph W. Chapman Water Reclamation Facility, including related electrical and waste sludge piping work, to increase reliability and serviceability to provide increased capacity for meeting waste and treatment process requirements.. 174 Engineering – Water Resources, Planning, Design, and Environmental Services  Completed the design and construction of the expansion of the Operations Yard parking lot, which added over 27,000 square feet of space. The lot will provide a separate parking area for employee vehicles, equipment storage, and a staging area for emergency events.  Completed the design and construction of fire shields and safety measures to increase fire resistance capacity to beyond three (3) hours to the underside of the existing Sweetwater River Trestle that conveys the 14-inch recycled water transmission line over the Sweetwater River.  With Helix Water District taking the lead, both agencies finalized plans, agreements, and constructed improvements to two (2) emergency interconnections at Blossom Lane and Ivy Street. Both agencies have benefited by having interconnections between the two (2) districts for emergencies. The interconnections provide increased reliability and flexibility during power outages and other disruptions in service.  Completed design and obtained permits from the County of San Diego and Caltrans to approve traffic control plans for the air-vacuum replacement on the 36-inch La Presa Pipeline starting from District headquarters on Jamacha Boulevard to the Regulatory site. These repairs will preserve the useful life of this pipeline for another 30-40 years.  Completed chlorine storage improvements to the 450-1 Disinfection Facility.  Worked closely with staff and representatives from NSC Agua to ensure compliance with the California Water Resources Control Board Drinking Water Program regulatory requirements. To meet these requirements, NSC Agua continued source water testing at the power plant intake and outlet structures. The objective of this source water quality testing is to determine the type of constituents in the ocean water and then to ensure that the appropriate treatment will be performed and that the produced desalinated water will meet the California water quality standards.  Completed the 2015 Urban Water Management Plan and filed the plan with the State’s Department of Water Resources. This plan will address the requirements of the California Water Code, provide useful information to the public about the District’s water supplies and water management programs, and provides a framework for water planning to minimize the negative effects of potential water shortages.  Completed the 2015 Integrated Water Resources Plan Update and held a workshop with the Board to go over the elements of the plan update. The purpose of the plan is to identify and conceptually develop a diverse range of water supply projects to meet long-range water supply needs.  Completed the final design and bid phases for the 14-inch Recycled Water Force Main Improvements project. The project will replace blow offs and rehabilitate the cathodic protection system to maintain the life expectancy of the existing facility. The project will also provide a new flow meter vault to improve system reliability and 175 Engineering – Water Resources, Planning, Design, and Environmental Services reduce the risk of a recycled water spill within the San Diego National Wildlife Refuge/Sweetwater Authority watershed.  Acquired pump station sites for the Otay Interconnect Pipeline (also known as North District – South District Interconnection) project. The two (2) parcels will provide a site for a future booster pump station.  Certified Final Environmental Impact Report as part of the Otay Interconnect Pipeline (also known as North District – South District Interconnection) project. The Project includes a 5-mile long, 30-inch diameter pipeline and associated booster pump station that would enable the District to convey potable water from the North District’s 640 pressure zone to the South District’s 624 pressure zone and vice versa. The Project will increase the District’s potable water supply flexibility and reliability.  Completed the design and environmental report for the Campo Road Sewer Replacement project. The Final Mitigated Negative Declaration/Initial Study and Environmental Checklist was approved by the Board on November 4, 2015. The sewer design received permit approval from Caltrans on May 5, 2016.  Completed the draft Environmental Impact Report/Environmental Impact Statement (EIR/EIS) in conjunction with the U.S. State Department for the Otay Mesa Conveyance and Disinfection System Project and submitted the document for its 45- day public review period. This document looks at the environmental effects of a proposed pipeline to convey desalinated water produced at a desalination plant in Rosarito, Mexico, across the US/Mexico border to the District’s Roll Reservoir. Completion of this document is a requirement for obtaining a Presidential Permit for receiving water across the border.  Received the “2016 Distinguished Owner Honoree” award from the Construction Management Association of America – San Diego Chapter. 176 Engineering – Public Services and Field Services Services We Provide The Public Services, Survey, Inspection, and Construction Divisions assist the public by responding to customer visits, phone calls, and inquiries regarding permits, plan-checking fees, filing procedures, permit status, meter sales, meter costs, and lateral costs. Staff administers all plan-checking submittals for potable water, recycled water, and sewer applications for approval, cellular lease agreements, fire service, and backflow inspections, project deposits, and invoicing. Staff also provides inspections to private developer funded projects and the District's Capital Improvement Projects, easement and encroachment enforcements, and survey and utility mark-outs of District facilities and GPS plots. Once bid, the Construction staff provides construction management for the projects. Accomplishments – Fiscal Year 2015-2016  Secured a $425,000 Water Conservation Plan grant from the Pio Pico Energy Center, which will support the District’s Leak Detection and Leak Repair efforts for FY 2017 and FY 2018.  Sales of 118 meters totaled $4.28 Million and equated to 423.5 Equivalent Dwelling Units.  Completed disposal of three (3) properties owned by the District and declared surplus by the Board with a net value of $147,592.20.  Increased revenue by 4.6% from FY 2015 cell site leases in excess of $1.24 Million and maintained 33 cell site leases.  Accepted developer water main projects with fixed assets valued at $2.03 Million.  Completed 3,550 USA Mark-out tickets with an accuracy rate of 100%. Also, completed 34 surveys related to various projects included in the FY 2016 CIP.  Performed QA/QC on 25,484 linear feet of pipeline. Also, performed 120 meter sets, rehabbed 3 tanks, and reviewed 45 plan checks that consisted of fire services, backflows, and developer pipeline projects as part of the delivery of the FY 2016 CIP and active developer projects.  Successfully completed the transition of Recycled Operations over to Engineering Field Services. Worked closely with Operations for the transition of recycled water systems operation within FY 2016. This has resulted in the pulling back in-house of District’s new irrigation inspection of projects and has reduced the District’s demand for outside services. 177 178 FY 2015 FY 2016 FY 2016 FY 2017 Actual Budget Actual* Budget General Expense 2,309,023$ 2,019,400$ 2,186,585$ 2,006,400$ Total Expenses 2,309,023 2,019,400 2,186,585 2,006,400 FY 2015 FY 2016 FY 2017 Actual Budget Actual* Budget Labor and Benefits (1)1,487,720 1,183,400 1,359,311 1,181,400 Fees 820,046 836,000 827,274 825,000 Services 1,257 - - - Total Expenses 2,309,023$ 2,019,400$ 2,186,585$ 2,006,400$ -$ -$ -$ -$ (1)Benefits include District-wide labor and benefit costs not attributable to any one department, such as the effect of cost of living raises on accrued leave liabilities or the Other Post Employment Benefit (OPEB) costs. These costs are netted against the District's anticipated Vacancy Factor. The Vacancy Factor for FY 2016 and FY 2017 is $338,300 and $198,600, respectively. Additionally, the labor and benefits shown on this schedule are those related to operating costs and does not include CIP labor and benefit costs. General Expense The expenditures in this section are general operating costs not associated with an individual department. The expenditures include: legal costs, insurance premiums, changes in accrued employee leave balances and miscellaneous interest. These expenditures represent 6.5% of the total Department Budget. Department Budget vs. Actual, in thousands ($) FY 2016 Object $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 2013 2014 2015 2016 2017 2, 1 7 6 2,1 5 0 2, 3 3 2 2, 0 1 9 2, 0 0 6 2, 3 4 4 2, 2 1 4 2, 3 0 9 2, 1 8 7 Budget Actual * Actual unaudited 179 180 Capital Improvement Program The District provides water service to a population of approximately 220,000 which is expected to ultimately increase to 308,000 by the year 2050. This growth as well as the maintenance of existing assets requires long-term capital planning. The process is dynamic, due to the evolving needs of the community, the water supply issues, and changing regulations. As such, capital planning is part of the District’s overall strategic planning. The capital planning process involves identifying current needs, future needs, and prioritizing them based on certain operating assumptions. The primary objective of this planning effort is to support an orderly and efficient program of expansion, new water supply, replacement, and betterment, while maintaining a stable long-range financial plan. To accommodate growth requires that the District invest $283 million in capital assets through ultimate build-out. The Fiscal Year 2017 Capital Budget is $10.7 million and the six-year Capital Improvement Program (CIP) totals $89.8 million. A separate CIP Budget document contains the descriptions, justifications, expenditures, and funding for all the identified projects to ultimate build- out. Assumptions and Criteria The CIP is developed based on the District's Water Resources Master Plan, incorporating historical data, growth, developers' input, SANDAG projections, and long-term economic outlook. The Water Resources Master Plan was built using several major assumptions and design criteria as follows: 1. Utilizing historical water demands for each land use type in the District to calculate future demands. 2. Using maximum day peaking factors that vary with demand level. 3. Utilizing land use as planned by the City of Chula Vista. 4. Providing ten days of emergency water supply through a maximum of five days in covered reservoirs and a minimum of five days from interconnections with adjacent agencies. 5. Inclusion of emergency operational storage to meet the five-day covered storage requirement into the ten-day outage supply requirement. CIP Justification and Impact on Operating Budget The justification for each project is determined by whether it is required due to growth (Expansion), new water sources (New Supply), improvements or upgrades (Betterment), or to replace an existing asset (Replacement). As these projects are completed and placed into service, there may be an impact on the Operating Budget by increasing costs in the areas of maintenance, energy, or chemicals as shown on the justification and impact pages in this section. 181 Capital Improvement Program Capital Purchases and Facilities All capital expenditures are in the CIP. This includes capital facilities and capital purchases. Capital purchases are non-recurring operating expenditures for assets that cost more than $10,000 each and have an estimated useful life of two years or more. The Capital Purchase Projects include Vehicles, Office Equipment, Furniture, and Field Equipment purchases. The details of these purchases can be found on page 194. Capital Facility Projects are items that exceed $10,000 or $20,000 for infrastructure related items (as defined under Capital Equipment on page 260 of the Glossary) and have a useful life of at least two years. The CIP projects are identified and are prioritized based on the following criteria: 1. Safety, restoration of service, immediate obligation, Board directed, or critical system need. 2. System upgrades or requirements to maintain system reliability in the next few fiscal years. 3. Need to meet the future growth of the system. 4. Project requirement may be reduced in capacity or may have low probability of need in the future. The following are the four categories of CIP projects: Expansion Facilities required to support new or future users are funded from capacity fees or user rates. Betterment Facilities required because of inadequate capacity or new requirements that benefit existing users are funded from availability, betterment fees, or rates. Replacement Facilities required to renew or replace existing facilities that have deteriorated or have exceeded their useful life are funded from user rates. New Water Supply Facilities required to support new sources of water are funded from new supply fees or user rates. 182 Major CIP Projects Capital Improvement Projects The Fiscal Year 2017 CIP Budget contains 107 projects. The cost of the work planned for 89 of these projects fall within Fiscal Year 2017 and total $10.7 million. Of the 89 projects planned for Fiscal Year 2017, three are designated as a reimbursable project with an estimated cost totaling $14,000. These projects are built by developers and reimbursed by the District. The following shows how the $10.7 million of projects are broken down into four categories: 1. Capital facility projects $ 3.8 million 2. Replacement or renewal projects $ 5.9 million 3. Capital purchase projects $ 1 million 4. Developer reimbursement projects $ 14 thousand The Six-Year CIP and Fiscal Year 2017 Capital Budget are consistent with the District's Water Resources Master Plan, current capacity fees, and the District's strategic financial objectives. 183 CIP Projects in Construction Project: 980-1 Reservoir Interior/Exterior Coating and Upgrades (P2545) Location: North End of Salt Creek Golf Course, Hunte Parkway, Chula Vista Director Division: 5 Project Description:  Remove and Replace Deteriorating Reservoir Coatings  Structural Modifications to Increase Service Life  $1.50M Budget  Start: February 2016  Estimated Completion: August 2016 980-1 Reservoir (5.0 MG) – Exterior Containment and Sandblasting 184 CIP Projects in Construction Director Division: 1 711-2 Reservoir (2.3 MG) – Exterior Scaffold Installation Project: 711-1 and 711-2 Reservoir Interior/Exterior Coating and Upgrades (P2545) Location: Park Meadows Road, Chula Vista. Adjacent to East Lake County Club Golf Course Project Description:  Remove and Replace Deteriorating Reservoir Coatings  Structural modifications to increase service life  $1.88M Budget  Start: November 2015  Estimated Completion: September 2016 185 CIP Projects in Construction Project: Operations Yard Property Acquisition Improvements (P2537) Location: Sweetwater Springs Boulevard, Spring Valley. Adjacent to District Operations Yard Director Division: 3 Project Description:  Provide parking to separate employee vehicles from District equipment  Will serve as emergency staging area  $0.78M Budget  Start: January 2016  Estimated Completion: June 2016 Operations Yard Property Acquisition Improvements – Asphalt Concrete Paving 186 CIP Projects in Construction Project: Rancho San Diego Basin Sewer Rehabilitation – Phase I (S2033-003103) Location: 14 locations including Hillsdale Road, Donahue Drive, Juliana Street, Vista Grande Road, and Sundale Road. Director Division: 5 Project Description:  Sewer system repairs at 14 locations  3,250 LF of 8-inch sewer  4 new sewer manholes  $3.00M Budget  Start: March 2016  Estimated Completion: November 2016 Trench Restoration in Singing Hills Mobile Estates Easement 187 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Total Beginning Balance 56,804$ 51,914$ 46,556$ 38,859$ 45,067$ 51,367$ 56,804$ Sources Capacity Fees 3,176 6,004 8,881 11,292 12,781 14,361 56,495 Debt financing (1)- 3,000 - - - - 3,000 Grants 255 505 500 500 500 133 2,393 Interest 458 477 495 510 641 808 3,389 Temporary Meters 739 744 750 759 770 781 4,543 Availability (Betterment Portion)484 503 522 542 563 585 3,199 New Supply Fee 346 661 986 1,227 1,397 1,565 6,182 COPS 2010B Reimbursement 828 828 828 828 828 828 4,968 Transfer from General Fund 8,060 10,617 11,075 10,897 10,788 10,571 62,008 Interfund Transfers 33 39 47 51 55 58 283 Total Sources 14,379 23,378 24,084 26,606 28,323 29,690 146,460 Uses CIP Projects 10,733 20,023 22,874 11,371 12,995 11,832 89,828 Debt Service 7,288 7,459 7,640 7,747 7,736 7,828 45,698 Developer Services 1,248 1,254 1,267 1,280 1,292 1,305 7,646 Total Uses 19,269 28,736 31,781 20,398 22,023 20,965 143,172 Net Sources (Uses)(4,890) (5,358) (7,697) 6,208 6,300 8,725 3,288 Ending Balance 51,914$ 46,556$ 38,859$ 45,067$ 51,367$ 60,092$ 60,092$ (1) Proposed State Revolving Loan Funds for Campo Road Sewer Main Replacement CIP Reserve Funds, in Thousands ($) CIP Reserve Funds The CIP Reserve Funds presentation, shown on the following pages, is designed to provide an understanding of how the funding of CIPs is expected to financially influence the District over the next six years.  The financial impacts are based on CIPs and their funding sources, including fund transfers in accordance with the District’s Reserve Policy, and planned debt issuances. This data is captured in the District’s Rate Model on an annual basis in order to make these projections.  $0 $10 $20 $30 $40 $50 $60 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 CIP Reserve Fund Balances, in thousands ($) Betterment Replacement Expansion New Supply 188 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Total Source Expansion 157$ 186$ 775$ 1,035$ 985$ 1,000$ 4,138$ Betterment 1,899 4,002 1,569 441 2,651 2,651 13,213 Replacement 8,657 15,815 20,510 9,875 9,339 8,161 72,357 New Supply 20 20 20 20 20 20 120 Total 10,733$ 20,023$ 22,874$ 11,371$ 12,995$ 11,832$ 89,828$ FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Total Category Capital Facility Projects 3,745$ 4,683$ 3,706$ 3,329$ 3,540$ 1,834$ 20,837$ Replacement/Renewal Projects 5,904 14,691 16,970 5,517 3,049 105 46,236 Capital Purchase Projects 1,070 410 305 250 236 253 2,524 Developer Reimbursement Projects 14 139 315 - - - 468 Total 10,733$ 20,023$ 22,874$ 11,371$ 12,995$ 11,832$ 89,828$ CIP Category Six-Year CIP Funding by Source CIP Funding Source Six-Year CIP Funding by Category $0 $5 $10 $15 $20 $25 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Six-Year CIP Funding by Source, in thousands ($) Betterment Replacement Expansion New Supply $0 $10 $20 $30 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Six-Year CIP by Category, in thousands ($) Capital Facility Projects Replacement/Renewal Projects Capital Purchase Projects Developer Reimbursement Projects 189 CIP No Description FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Total P2040 Res - 1655-1 Reservoir 0.5 MG $ 20 $ 80 $ 450 $ 1,025 $ 825 $ 500 $ 2,900 P2267 36-Inch Main Pumpouts and Air/Vacuum Ventilation 220 55 - - - - 275 P2382 Safety and Security Improvements 250 - - - - - 250 P2405 PL - 624/340 PRS, Paseo Ranchero and Otay Valley Road 5 5 5 5 50 500 570 P2451 Otay Mesa Desalination Conveyance and Disinfection 50 50 50 50 50 50 300 P2453 SR-11 Utility Relocations 250 500 500 500 500 133 2,383 P2460 I.D. 7 Trestle and Pipeline Demolition 50 5 5 5 530 - 595 P2466 Regional Training Facility 6 - - - - - 6 P2485 SCADA Communication System and Software Replacement 85 85 85 85 24 - 364 P2486 Asset Management - Info Master Water Implementation 25 20 - - - - 45 P2494 Multiple Species Conservation Plan 48 20 - - - - 68 P2496 Otay Lakes Road Utility Relocations 5 20 - - - - 25 P2504 Regulatory Site Access Road and Pipeline Relocation 20 330 120 100 - - 570 P2516 PL - 12-Inch, 640 Zone, Jamacha Road - Darby/Osage - - - 75 100 625 800 P2520 Motorola Mobile Radio Upgrade 30 - - - - - 30 P2521 Large Meter Vault Upgrade Program 100 100 100 100 - - 400 P2537 Operations Yard Property Acquisition Improvements 10 - - - - - 10 P2541 624 Pressure Zone PRSs 10 - - - - - 10 P2547 District Administration Vehicle Charging Stations 85 20 - - - - 105 P2550 Fuel Island Upgrade 112 - - - - - 112 P2551 Blossom Lane Helix WD and Otay WD Interconnection 20 - - - - - 20 P2552 South Barcelona Helix WD and Otay WD Interconnection 20 - - - - - 20 P2553 Heritage Road Bridge Replacement and Utility Relocation 100 380 685 260 - - 1,425 P2564 Administration Carpet Replacement Program 5 210 - - - - 215 P2568 Technology Business Processes Improvement 100 - - - - - 100 P2569 Metro Ethernet Implementation/ District Facilities - Pilot 45 - - - - - 45 P2570 SCADA Equipment & Infrastructure Enhancement 100 100 100 - - - 300 P2571 Datacenter Network Enhancement & Replacement of Infrastructure Componets - - 100 100 - - 200 P2572 Enterprise Resource Planning (ERP) Replacement - - - - 250 250 500 P2584 Res - 657-1 and 657-2 Reservoir Demolitions - - - - 70 650 720 R2077 RecPL - 24-Inch, 860 Zone, Alta Road - Alta Gate/Airway 20 20 - - - - 40 R2079 RecPL - 6-Inch, 450 Zone, Otay Valley Road - Otay Valley/Entertainment 10 10 10 10 110 - 150 R2109 Sweetwater River Wooden Trestle Improvement for the Recycled Water Forcemain 10 5 - - - - 15 R2110 RecPS - 944-1 Optimization and Pressure Zone 5 67 - - - - 72 R2116 RecPL - 14-Inch, 927 Zone, Force Main Improvements 1,000 900 10 - - - 1,910 R2117 RWCWRF Disinfection System Improvements 10 50 50 150 1,000 150 1,410 R2118 Steele Canyon Sewer PS Large Solids Handling 68 - - - - - 68 R2119 RWCWRF Automation & Security Upgrades 95 50 130 - - - 275 R2120 RWCWRF Filtered Water Storage Tank Improvements 250 245 - - - - 495 R2122 Emergency Recycled Water Fire Hydrant Installations 15 - - - - - 15 Six-year CIP Projects by Category ($1,000s) The 2017 Fiscal Year CIP Budget contains 107 projects. The costs for the work planned for Fiscal Year 2017 are $10.7 million. Of the 89 projects planned for Fiscal Year 2017, four are designated as reimbursable projects with an estimated cost of $14,000. These reimbursable projects are built by a developer and reimbursed by the District. Capital Facility Projects 190 CIP No Description FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Total R2123 Repurpose Otay Mesa Recycled Water Lines 35 5 5 5 150 150 350 R2124 RecPS - 927-1 Pump 5 Replacement 55 - - - - - 55 S2012 San Diego County Sanitation District Outfall and RSD Outfall Replacement 150 150 200 250 300 350 1,400 S2027 Rancho San Diego Pump Station Rehabilitation 50 1,200 1,200 783 - - 3,233 S2033 Sewer System Rehabilitation 200 - - - - - 200 S2043 RWCWRF Sludge Handling System 1 1 1 1 1 1 6 S2047 Asset Management - Info Master Sewer Implementation - 30 28 - - - 58 47 Total Capital Facility Projects $ 3,745 $ 4,713 $ 3,834 $ 3,504 $ 3,960 $ 3,359 $ 23,115 P2083 PS - 870-2 Pump Station Replacement $ 390 $ 3,500 $10,800 $ 500 $ 50 $ 50 $ 15,290 P2174 PS - 1090-1 Pump Station Replacement (400 gpm) 1 150 200 1,149 - - 1,500 P2400 PL - 20-Inch Pipeline Replacement, 711 Zone, Otay Lakes Road - at Santa Paula - - - 150 350 1,500 2,000 P2493 624-2 Reservoir Interior/Exterior Coating 60 60 - - - - 120 P2507 East Palomar Street Utility Relocation 120 100 - - - - 220 P2508 Pipeline Cathodic Protection Replacement Program 300 100 96 - - - 496 P2518 803-3 Reservoir Interior/Exterior Coating 40 20 - - - - 60 P2519 832-2 Reservoir Interior/Exterior Coating 65 20 - - - - 85 P2529 711-2 Reservoir Interior & Exterior Coating 360 25 50 - - - 435 P2530 711-1 Reservoir Interior & Exterior Coating 90 50 50 - - - 190 P2531 944-1 Reservoir Interior & Exterior Coating 50 50 - - - - 100 P2532 944-2 Reservoir Interior & Exterior Coating 50 50 - - - - 100 P2533 1200-1 Reservoir Interior & Exterior Coating 10 700 50 50 - - 810 P2534 978-1 Reservoir Interior & Exterior Coating 615 50 50 - - - 715 P2535 458-2 Reservoir Interior & Exterior Coating & Upgrades 50 50 - - - - 100 P2538 Administration and Operations Building Fire Sprinkler Replacement Program 10 - - - - - 10 P2539 South Bay Bus Rapid Transit (BRT) Utility Relocations 100 100 40 - - - 240 P2542 850-3 Reservoir Interior Coating 50 50 - - - - 100 P2543 850-1 Reservoir Interior/Exterior Coating 10 645 120 50 50 - 875 P2544 850-2 Reservoir Interior/Exterior Coating 835 135 50 50 - - 1,070 P2545 980-1 Reservoir Interior Exterior Coating 330 50 50 - - - 430 P2546 980-2 Reservoir Interior/Exterior Coating - 20 1,330 50 50 - 1,450 P2555 Administration and Operations Parking Lot Improvements 275 185 - - - - 460 P2557 520 Res Recirculation Pipeline Chemical Supply and Analyzer Feed Replacement Project 50 35 5 - - - 90 P2559 Pressure Vessel Repair and Replacement Program 65 125 125 125 125 55 620 P2561 Res - 711-3 Reservoir Cover/Liner Replacement 1 4 95 1,700 - - 1,800 P2562 Res - 571-1 Reservoir Cover/Liner Replacement 90 2,500 5 5 - - 2,600 P2563 Res - 870-1 Reservoir Cover/Liner Replacement 1 1 9 90 899 - 1,000 P2565 803-2 Reservoir Interior/Exterior Coating & Upgrades - - 20 820 50 50 940 P2566 520-2 Reservoir Interior/Exterior Coating & Upgrades - - - 20 1,380 100 1,500 P2567 1004-2 Reservoir Interior/Exterior Coating & Upgrades - - - - 20 885 905 P2573 PL - 12-Inch Pipeline Replacement, 803 Zone, Hillsdale Road 160 225 1,365 - - - 1,750 Replacement/Renewal Projects Capital Facility Projects, continued Six-year CIP Projects by Category ($1,000s) 191 CIP No Description FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Total P2574 PL - 12-Inch and 14-inch Pipeline Replacement, 803 and 978 Zone, Vista Grande, Pence Drive 50 100 275 400 1,925 - 2,750 P2578 PS - 711-2 (PS 711-1 Replacement and Expansion) - 14,000 - - - 350 3,200 3,050 6,600 P2579 Temporary Lower Otay Pump Station Improvements 140 - - - - - 140 P2592 East H Street Bike Lane Utility Coordination 50 - - - - - 50 P2593 458-1 Reservoir Interior/Exterior Coating & Upgrades - - - - 10 830 840 P2594 Large Meter Replacement 240 150 95 - - - 485 R2111 RWCWRF - RAS Pump Replacement 10 5 - - - - 15 R2112 450-1 Disinfection Facility Rehabilitation 25 25 - - - - 50 R2121 Res - 944-1 Reservoir Cover/Liner Replacement 1 1 30 1,348 - - 1380 S2024 Campo Road Sewer Main Replacement 50 4,750 2,500 - - - 7300 S2044 Trenchless Sewer Rehabilitation 600 50 - - - - 650 S2045 Fuerte Drive Sewer Relocation 190 10 - - - - 200 S2046 RWCWRF - Aeration Panels Replacement 250 100 100 - - - 450 S2048 Hillsdale Road Sewer Repairs 100 390 10 - - - 500 S2049 Calavo Basin Sewer Rehabilitation - Phase 2 20 130 800 50 - - 1000 S2050 Rancho San Diego Basin Sewer Rehabilitation - Phase 2 - - - - 50 250 300 S2051 RWCWRF - Headworks Improvements - 50 100 600 - - 750 S2052 RWCWRF - Access Roads Repaving - - - 50 400 300 750 S2053 RWCWRF - Sedimentation Basins Refurbishment - - - 60 140 400 600 S2054 Calavo Basin Sewer Rehabilitation - Phase 3 - - - - 50 250 300 52 Total Replacements and Renewal Projects $ 5,904 $ 14,761 $18,420 $ 7,617 $ 8,749 $ 7,720 $ 63,171 Capital Purchase Projects P2282 Vehicle Capital Purchases $ 197 $ 290 $ 240 $ 187 $ 236 $ 253 $ 1,403 P2285 Office Equipment and Furniture Capital Purchases 15 15 15 8 - - 53 P2286 Field Equipment Capital Purchases 38 105 50 55 - - 248 P2366 APCD Engine Replacements and Retrofits 820 - - - - - 820 4 Total Capital Purchase $1,070 $410 $305 $250 $236 $253 $2,524 Developer Reimbursement Projects . P2325 PL-10" to 12" Oversize, 1296 Zone, PB Road-Rolling Hills Hydro PS/PB Bndy $ 3 $ - $ - $ - $ - $ - $ 3 P2403 PL - 12-inch, 624 Zone, Heritage Road - Olympic/Otay Valley - - - - 50 500 550 P2556 HWY 94 Upsized Utility Relocations at Melody Lane 1 99 - - - - 100 R2084 RecPL - 20-Inch, 680 Zone, Village 2 - Heritage/La Media 10 40 315 - - - 365 4 Total Reimbursement Projects $14 $139 $315 $0 $50 $500 $1,018 Summary CIP No Description FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Total 89 Total - FY 2017 Projects $10,733 $ 19,923 $21,296 $ 9,096 $ 6,825 $ 2,192 $ 70,065 18 Total - FY 2018 through FY 2022 Projects - 100 1,578 2,275 6,170 9,640 19,763 107 Grand Totals $10,733 $ 20,023 $22,874 $11,371 $ 12,995 $ 11,832 $ 89,828 Replacement/Renewal Projects, continued Six-year CIP Projects by Category ($1,000s) 192 CIP#Description Cost Cat. (2) Funding Source (3) FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Total P2040 Res - 1655-1 Reservoir 0.5 MG M E $ - $ - $ 50 $ 51 $ 52 $ 52 $ 205 P2466 Regional Training Facility M B/E 1,000 1,000 1,000 - - - 3,000 P2537 Operations Yard Property Acquisition Improvements M/E B 700 725 750 776 800 800 4,551 P2547 District Administration Vehicle Charging Stations M/E B/E 700 700 700 700 700 700 4,200 R2084 RecPL - 20-Inch, 680 Zone, Village 2 - Heritage/La Media M E - - 1,900 1,900 1,900 1,900 7,600 S2043 RWCWRF Sludge Handling System M/E/C B - - - - 30,000 30,000 60,000 2,400 2,425 4,400 3,427 33,452 33,452 79,556 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 Total 1,200 1,200 3,150 2,152 12,152 12,152 32,006 1,200 1,225 1,250 1,275 11,300 11,300 27,550 - - - - 10,000 10,000 20,000 $ 2,400 $ 2,425 $ 4,400 $ 3,427 $ 33,452 $ 33,452 $ 79,556 (1) (2) (3) Note:See pages 190-192 for complete description of CIP projects. Projected Incremental Operating Expenditures (1) E - Expansion B - Betterment R - Replacement N - New Supply The following schedule shows anticipated operating costs associated with each project in the CIP. Below is a summary of each category of new costs that will be impacted. No additional revenues are associated with the individual projects, as revenues are linked more directly to growth in water sales and capacity fee revenues. Funding Source - Some projects have multiple funding sources as indicated by a slash (/): Cost Category - Indicates maintenance cost (M), energy cost (E), or chemical cost (C), based on the project type and Engineer's estimates. O&M cost for a pump station: Total annual operating cost divided by the number of million of gallons a day (MGD) capacity in the system = O&M cost per MGD. This rate is then multiplied by the MGD capacity of the new pump station. Similarly, power cost per MGD for transmission is calculated and applied to the MGD of the new pump station. Chemical expenses are incurred for pumping at the well sites. All estimated costs are increased annually for inflation. Projected Incremental Operating Expenditures (operating cost) or O&M includes labor, benefits, materials, and overhead. O&M cost for pipes: Total annual operating cost divided by the number of feet of pipe in the system = O&M cost to maintain a foot of pipe. This rate is then multiplied by the number of feet in new pipeline, and is increased annually for inflation. Cost Category Each of the capital purchases and other types of assets has its own unique O&M cost. Maintenance (M) Energy (E) Chemical (C) Total Operating Budget Cost Impact CIP Justification and Impact on Operating Budget O&M cost for a reservoir: Total annual operating cost divided by the number of million gallons (MG) of storage capacity in the system. This rate per MG is then multiplied by the MG capacity of the new reservoir. Reservoirs require chemical treatment; therefore, the chemical cost per MG is estimated and applied to the future operating cost. Both O&M and chemical costs are increased annually for inflation. 193 Quantity Amount Vehicles 1 34,000$ 1 30,000 1 44,000 1 34,000 1 55,000 Total Vehicles 197,000 Office Equipment and Furniture various 15,000 Total Office equipment and furniture 15,000 Field Equipment 1 38,000 Total Field equipment 38,000 APCD Engine Replacements and Retrofits 2 300,000 2 520,000 Total APCD engine replacements and retrofits 820,000 Grand Total : 1,070,000$ P2282 Vehicles 197,000$ P2285 Office equipment and furniture 15,000 P2286 Field equipment 38,000 P2366 APCD Engine replacements and retrofits 820,000 Grand Total: 1,070,000$ FY 2017 Capital Purchases Capital purchases are non-recurring operating expense items for District-wide use that cost more than $10,000 each and have an estimated useful life of two years or more. The Capital Purchase Projects include vehicles, office equipment and furniture, field equipment and APCD engine replacements and retrofits. Description Class 5 Dump Truck with 2-3 Yard Dump Body. 3/4 Ton Pick-up with Utility Body for Disinfection Technician. 40kw Critically Silenced Genset. 1/2 Ton Pick-up for Water System Operations Section. 1/2 Ton Pick-up for the Inspection Services Section. All Wheel Drive SUV Replacement for Inspection Services Field Manager. Districtwide office equipment and furniture items. Summary by Project Two emergency stand-by portable pumps. Two replacement portable gensets. 194 Summary of Financial Policies Introduction This section includes a brief synopsis of the District’s Reserve Policy, Investment Policy, and Debt Policy. The Reserve Policy is a comprehensive policy which explains how the District is operated, including the distinction of business segments to ensure the various users pay their fair share of costs. It explains how fees are collected and what they are used for. It also explains the difference between funds, as well as how transfers shall be made, and defines each reserve target funding level. This policy was adopted by the Board in November 2010. The District periodically reviews the policy to ensure it reflects current policies and financial practices. The Reserve Policy was updated and adopted by the Board in November 2014. The following chart depicts the detailed flow of funds that may be useful in understanding the Reserve Policy. Unrestricted and Undesignated (General Use) Funds Restricted Funds FUND CHART   Designated Funds Designated Expansion Designated New Supply Designated Replacement Designated Betterment Potable General Fund Recycled General Fund Sewer General Fund Restricted Expansion Restricted Betterment Debt Reserve Restricted New Supply OPEB Reserve 195 Summary of Financial Policies The Investment Policy is a guideline for the prudent investment of cash. It outlines government code as well as authority granted by the Board of Directors. The primary objectives, in order of significance, are to invest safely, with adequate liquidity, and to achieve a return on investments. In August 2007, the District received a Certification of Excellence Award from the Association of Public Treasurers of the United States and Canada (APT US&C) for this policy. The Investment Policy was updated and adopted by the Board in May 2015. The Debt Policy establishes that debt financing will only be used for Capital Improvement Projects (CIP), which have an extended useful life for ten years or longer, and that exceed the District’s ability to be funded with current resources such as annual cash flow, fund balances, or reserves. Additionally, the life of a project is expected to exceed the term of the financing. The District strives to maintain the highest possible credit ratings for all categories of long-term debt that can be achieved without compromising delivery of basic services and the achievement of district policy objectives. In August 2007, the District received a Certification of Excellence award from the Association of Public Treasurers of the United States and Canada (APT US&C) for this policy. The Debt Policy was updated and adopted by the Board in September 2013. 196 Reserve Policy 1.0 The District The Otay Water District is a California municipal water district, authorized in 1956 by the State Legislature under the provisions of the Municipal Water District Act of 1911. The District is a "revenue neutral" public agency; meaning each end user pays their fair share of the District's costs of water acquisition, construction of infrastructure, and the operation and maintenance of the public water facilities. The District provides water service within its boundaries, and provides sewer and recycled water service within certain portions of the District. As such, the District operates three distinct business segments:  Potable water  Recycled water  Sewer Each of these business segments has an identifiable customer base. In addition, the developer community, large and small, makes up a significant class of customer for each business segment. As a result, the District has four distinct customer service types:  Developers  Potable water users  Recycled water users  Sewer users The District has established practices and developed computer systems that have enabled the District to maintain a clear separation between the service costs relating to each of its four customer service types. Regardless of customer class, financial principles regarding cost allocation and fund accounting are fundamental to the District’s Reserve Policy. These principles are derived from the statements of the Governmental Accounting Standards Board (GASB), and from oversight and advisory bodies such as the California State Auditor, the Little Hoover Commission, and the Government Finance Officers Association (GFOA). These have significant impacts on how the finances of the District are organized and how financial processes work within the organization. 1.1 The District’s Use of Financial Resources All of the District’s expenditures fall into two broad categories: operating costs and capital expenditures. The operating costs include costs relating to the purchase and delivery of potable and recycled water, and the transportation and treatment of sewage. The capital expenditures support the construction of infrastructure necessary to deliver services. The District uses various funds to support the operating and capital efforts. Operations and maintenance is financed only by rates and charges, also called pay-as-you-go, while capital infrastructure is financed using two financing methods: pay-as-you-go and debt issuance (requiring annual debt service). The Capital Improvement Program (CIP) and the two funding methods support the 197 Reserve Policy construction, betterment, and replacement of infrastructure in all three business areas: potable, recycled, and sewer. The District establishes different funds to track revenues allocated to different activities. Once established, each fund receives financial resources up to the levels defined in this policy. Every year, as a part of the annual budget process, the District’s rate model is updated for each fund with the current fund balances and the estimated revenues and expenditures for the next six years. The expenditure requirements and financial resources are then evaluated to ensure that the existing fund balances and additional revenues are sufficient within the current budget cycle and for the next five years to maintain target fund levels. If a deficit is identified, then options for transfers, shifting CIP projects, debt, cost saving measures, and/or rate increases are evaluated. 1.2 The District’s Capital Improvement Program (CIP) The planning, design, and construction costs of all capital facilities within the three business segments are allocated to four cost types and corresponding fund categories: New Water Supply, Expansion, Replacement, and/or Betterment. The allocation to these four cost types is defined in the District’s Capital Improvement Program (CIP) and is determined by an engineering analysis that identifies which type of customer will benefit from each facility, planned or existing. The costs of the capital improvements are borne by either existing users or by the developing areas, or by a combination of the two, as applicable. This Reserve Policy protects both the existing users and the developing areas from incurring unwarranted costs. Developing areas are not required to finance facilities that are replacement or betterment and established areas are not required to replace facilities before they are worn out because of new development. However, to ensure a fair allocation of costs, each facility has the potential to be classified into any or all of the four cost types. In addition to these cost types there are occasional CIPs that may be billable to a third party, if for example a third party requires a District facility be relocated. Paragraphs a through d below, describe how the costs of capital facilities are financed through various fees. a. New Water Supply The portion of a new supply project that benefits new users is financed from the reserves in the New Water Supply Fund category. These reserves are primarily derived from proceeds of the new water supply fee. The New Water Supply Fund is restricted, meaning the amounts credited to this fund are accounted for separately and are used solely for the planning, design, and construction of the new water supply expansion facilities. Debt financing may also be a temporary financial resource to finance new water supply projects. The District has a Debt Policy (Policy No. 45) that guides the debt issuance process. Any debt proceeds used for this purpose would be restricted in nature and tracked separately. General use reserves may also be placed in the Designated New Water Supply Fund and used for water supply projects. b. Expansion The portion of a CIP project that benefits new users is financed from the reserves in the Expansion Fund category. These reserves are primarily derived from proceeds of the “incremental” portion of the capacity fees collected within developing areas. Capacity fees are accounted for separately and 198 Reserve Policy used for the planning, design, and construction of expansion facilities. Additionally, expansion may be financed by the “buy-in” portion of the capacity fee which is restricted for CIP purposes, but not specifically for expansion. Debt financing may also be a temporary financial resource for expansion projects. General use reserves may also be placed in the Designated Expansion Fund and used for expansion projects. c. Replacement The portion of a CIP project that benefits existing users by replacing an existing facility is financed from the reserves in the Replacement Fund category. Replacement of facilities may be financed with proceeds of the “buy-in” portion of the capacity fees, general use reserves held in the Designated Replacement Fund, and debt proceeds. The various funding sources available for replacement projects is anticipated to provide the necessary flexibility to begin projects while any necessary debt financing is being obtained. d. Betterment Facilities that improve reliability, meet new regulations, or create increased levels of service are considered betterment facilities that benefit existing users. The reserves in the Betterment Fund category are used to finance these projects or portions of projects. Proceeds of the “buy-in” portion of the capacity fees may also be used to finance betterment projects. General use reserves may be placed in the Designated Betterment Fund and used for betterment projects. 1.21 Relocations Occasionally, relocation of a District facility is required by a third party. If the District has a superior easement the relocation cost will be paid by the third party, but only to the extent that the District does not benefit from the relocation. When relocation is required, a CIP project may be created which is wholly or partially financed by a third party. On occasion, the District will require that its own facilities be relocated. Depending on the nature of the facilities, the financial resources for these projects could be from new water supply, expansion, replacement, betterment or third party financing. Each project is individually negotiated with the third party based on the facts and circumstances of the relocation. Occasionally, the District will improve the facilities that are being relocated. When determining how to allocate costs to various funds the following guideline is suggested: if a project has more than five years of useful life remaining, an incremental cost view should be considered; if the project has less than five years of useful life remaining, a pro-rata cost approach should be considered. Also, the likelihood the District will benefit from an asset’s life extension should be evaluated prior to allocating costs. 1.22 Oversizing If deemed reasonable by the District, in connection with the construction of backbone facilities, a developer may be required to oversize new facilities for future development. The developer is reimbursed for incremental oversizing costs as per Policy No. 26. These reimbursements are not available for the distribution system within a development which is an obligation of the developer. 199 Reserve Policy 1.23 Exclusion of Developed Areas from Expansion Costs Developed areas are assumed to have sufficient supply and capacity to meet their current requirements as provided by the developers. In addition, they are considered to have borne capital financial costs that are at least proportionate to the benefits they have received from capital facilities. Accordingly, no regional capital financing costs are allocated to these areas so that they will not incur any costs for newly developing areas, except for capital projects that produce district-wide benefit or cost savings. 1.24 Improvement Districts (IDs) Improvement Districts (IDs) are established to facilitate the financing of particular improvements by the specific beneficiaries. The District has a number of improvement districts that were established for General Obligation (GO) debt repayment. Most GO debt has been paid off and it is unlikely that the District will issue additional GO debt. Improvement districts continue to be used for other purposes: 1) to distinguish sewer customers from water customers on the county tax roll; or 2) to place parcels on the county tax roll for the collection of availability fees. Over the years, the District moved to a district-wide perspective of financing improvements. This philosophy is evident by the district-wide capacity and annexation fees. The District also uses district-wide water rates. As time goes on, it is expected that IDs will continue to outgrow their purpose and their use will diminish. 1.3 The Purpose of the Policy Public entities accumulate and maintain reserves to ensure both financial stability and continuous availability of services. Financial stability and the resulting improved credit quality allow the public entity to weather times of uncertainty and the impact of negative events, both major and minor. Reserves allow for the ongoing maintenance of property and timely payment of expenses even when such expenses exceed money available from a single fiscal period. In the final analysis, the type and level of reserves are driven by the type and magnitude of uncertainty faced by the public entity. A “reserve” has a number of meanings, as follows:  Working capital is required to insure timely payment of obligations.  A buffer against volatility in revenues.  Liquidity is required to obtain other goods and services (e.g., bank services).  Designated money to protect creditors.  Money set aside to replace assets at the end of their useful lives.  Money set aside to repair or replace assets damaged or destroyed at unanticipated times. It is important to note that reserves, fund balance, and net assets are not the same. Fund balance and net assets are accounting terms and may not always be in the form of cash or liquid investments. Fund 200 Reserve Policy balances and net assets may not always be reserves unless a designation of all or a portion of fund balance is made. In addition, the term fund balance was replaced by net assets as codified by the Governmental Accounting Standards Board (GASB). In short, reserves are the liquid assets of the District, accumulated and maintained for application to finance contingent future activities, whether known or unanticipated, operating or capital in nature. The District’s Reserve Policy governs the management and use of these financial resources. Few policies have a more significant impact on the financial health and stability of the District. This policy explains several key financial concepts used by the District and provides some background information to the overall strategies and practices utilized. The District has a fiduciary obligation to its customers, to manage and direct the use of public funds for the purpose of providing water and sewer services in an efficient and financially sound manner. 1.4 Policy Guidelines In 2000, the Little Hoover Commission reviewed the levels of reserve funds for special districts in California and prepared a report reflecting that special districts were accumulating unreasonable levels of funds. As a proactive response, the California Special Districts Association (CSDA) prepared Reserve Guidelines for its members. The Reserve Guidelines were significant in noting that reserve levels need to be in context of the organization’s overall business model and capital improvement plan. There are a number of potential events which the District should consider in the development of reserves:  Economic Uncertainty - performance of the regional economy and the impact of that performance on demand for water.  Weather - the amount of rainfall and the impact of weather on the availability and the cost of water as well as the demand for water.  Government Mandates - the impact of federal and state regulation, particularly environmental regulation.  Tax Changes - limitations on the District’s taxing and spending powers through the passage of a voter referendum, the impound of District property taxes or the removal of the District’s power to levy property taxes, further increases to Educational Revenue Augmentation Fund (ERAF) contributions or changes in calculation methodology.  Operating Costs - increases in operating and maintenance costs because of inflation, labor agreement or other modification.  Force Majeure - unanticipated expenditures resulting from natural disasters or intentional acts.  Emergency Maintenance - unanticipated expenditures resulting from unexpected failure of assets (e.g., rupture in the primary transmission system).  Unexpected Variation in Cash Flow - the incidence of additional costs or decreased revenues that require short-term borrowing in the absence of sufficient financial resources. 201 Reserve Policy The California State Auditor has, in its oversight role, offered a number of quality recommendations for the development of reserve policies as outlined in its report entitled, “California’s Independent Water Districts: Reserve Amounts Are Not Always Sufficiently Justified, and Some Expenses and Contract Decisions Are Questionable,” dated June 2004, Report No. 2003-137. All of these recommendations have been incorporated into this policy in an effort to address key issues surrounding the management and use of District reserves. The detailed objectives as identified by the State Auditor are as follows:  Distinguish between restricted and unrestricted reserves.  Establish distinct purposes for all reserves.  Set target levels, including minimums and maximums, for the accumulation of reserves.  Identify the events or conditions that prompt the use of reserves.  Conform to plans to acquire or build capital assets.  Receive Board approval and that it is in writing.  Require periodic review of reserve balances and rationale for maintaining them. Yet, the State Auditor’s report acknowledges that the California Constitution (Article XIII B, Section 5) is vague in its provisions governing the accumulation and use of reserves. Specifically, the Constitution states that “each entity of the government can establish contingency, emergency, unemployment, reserve, sinking fund, or similar funds as it shall deem reasonable and proper.” 2 Similarly, the State’s Water Code does not impose any requirements as to specific or recommended reserve fund levels. As a result, the public finance community as a whole has yet to settle on any real objective standards for the level of reserve funds appropriate for governmental enterprises. This lack of consensus as to specific standards is indicative of the wide variance of the financial and operations context for different districts and different contingencies justifying reserves. The Government Finance Officers Association (GFOA) in its “Recommended Practice on Appropriate Level of Unreserved Fund Balance in the General Fund” (2002) states that in establishing a policy governing the level of unreserved fund balance in the general fund, a government should consider a variety of factors. 1 California State Auditor, Bureau of State Audits, “California’s Independent Water Districts: Reserve Amounts Are Not Always Sufficiently Justified, and Some Expenses and Contract Decisions Are Questionable,” dated June 2004, 2003-137; p. 8. 2 California Constitution, Article XIII B, Section 5. 1 202 Reserve Policy These include:  The predictability of its revenues and the volatility of its expenditures (i.e., higher levels of the unreserved fund balances may be needed if significant revenue sources are subject to unpredictable fluctuations or if operating expenditures are highly volatile).  The availability of resources in other funds as well as the potential drain upon general fund resources from other funds (i.e., the availability of resources in other funds may reduce the amount of the unreserved fund balance needed in the general fund, just as deficits in other funds may require that a higher level of unreserved fund balance be maintained in the general fund).  Liquidity (i.e., a disparity between when financial resources actually become available to make payments and the average maturity of related liabilities may require that a higher level of resources be maintained).  Designations (i.e., governments may wish to maintain higher levels of the unreserved fund balance to compensate for any portion of unreserved fund balance already designated for a specific purpose). In the preparation of this policy, each of the CSDA guidelines and the GFOA recommendations has been considered. In addition, all seven objectives provided by the State Auditor are specifically addressed for each reserve. The District wholly supports the State Auditor’s efforts to bring a high-level of quality to reserve governance and establishing a standard of performance. The District recognizes that the customer pays for services provided. Quality management requires that periodic valuations be performed so that fees and charges can be set at appropriate levels to recover the cost of service. The District’s Reserve Policy has been drafted with consideration of the GFOA, CSDA, and State Auditor’s general guidelines as provided above. In addition, the District has adopted the following principles in the management of its financial resources:  Reserves are held and used only for the purpose for which they are collected. This is done to maintain equity among customers.  Each of the service types is tracked separately so that expenditures and revenues can be monitored and evaluated for each customer type. This provides the District with the necessary information to appropriately charge for each of the services.  Separation of operations and maintenance from capital expenditures occurs within each of the service types. This is done because the financing of these expenditures is often on different timelines or use different reserves.  The District will hold its reserves at responsible and prudent levels. This policy sets minimum, maximum, and target levels for each of the various funds. This has been done so that the District can maintain reserves to meet the purpose for which the funds were established. The levels are set 203 Reserve Policy by reference to line items in the District’s financial statements and approved budgets. This allows reserve levels to adjust to the District’s changing financial circumstances.  Debt financing of facilities provides intergenerational equity and maintains rates at reasonable levels. This equity is accomplished with long-term financing which spreads the cost of facilities over the life of the facilities. The burden to pay for facilities is then paid by those who use them. The District could amass significant reserves by pre-collecting financial resources in a Replacement Reserve Fund allowing the District to cash finance all replacements. However, this would require significant rate increases burdening the current customers and creating reserve levels difficult to defend to the ratepayers or other oversight entities. These concepts are fundamental to the way the District manages its funds and have a direct impact on the way rates and charges are set. The District performs annual budget evaluations and updates its rate model on an annual basis to monitor and adjust the various funds and revenue sources. The separation, tracking, and projecting of the various funds and expenditures create the essential information necessary for the equitable rate structure maintained by the District. The annual review preserves the balance between services provided and the fees charged. This review also insures that reserves will be available to continue to serve the District’s customers. Financial Sources 2.0 Developers a. Meter Installation Charges (General Use) Meter fees are charges collected for new water service connections. Fees vary depending upon meter size and type of service. The costs associated with meter installations are included in the Operating Expenses section of the budget. These charges are financed by developers. b. Developer Deposits (General Use) These deposits are for the engineering and operations services provided to developers. They are tracked separately for each developer and any excess amount is returned to the developer. c. Water Annexation Fees (General Use) Annexation fees3 are collected as a condition of annexing into the District’s potable or recycled water facilities. Since the existing facilities have been built and maintained by developers or customers within the District, the annexation fee is calculated based on the present value of all property taxes (1% property tax and availability fees) paid by existing and prior customers. The annexation fee reimburses existing customers for past contributions so that all customers have contributed more equally to water facilities. Proceeds of annexation fees are unrestricted and may be used for any general fund purpose. 3 Code of Ordinances, Section 9. 204 Reserve Policy d. Sewer Annexation Fees (General Use) A sewer annexation fee is collected when property is annexed into an improvement district. Since the existing facilities have been built and maintained by developers or customers within a sewer IDs, the annexation fee is calculated based on the present value of all availability fees paid by existing and prior customers. The annexation fee reimburses existing customers for past contributions so that all customers have contributed more equally to sewer facilities. Proceeds of the annexation fees are unrestricted and may be used for any general fund purpose. e. New Water Supply Fee (Restricted) New water supply fees4 are based on the cost of the expansion portion of new water supply projects divided by the number of future equivalent dwelling units (EDU). The new water supply fee covers the cost of planning, design, construction, and financing associated with facilities for the District’s new supply needs. These fees are paid by developers. The proceeds of this fee may be used only for new potable or recycled water supply projects. Although the fees collected are not restricted separately, one portion for potable and the other for recycled, they are tracked separately. f. Water Capacity Fees (Restricted) Water capacity fees4 are based on the value of existing and future facilities divided by the number of existing and future equivalent dwelling units. This method of calculating capacity fees is called the combined method, where the “buy-in” portion of the capacity fee covers costs to repay existing customers for the facilities that they have built, and where the “incremental” portion of the capacity fee covers the cost of future expansion facilities. The “buy-in” portion of the capacity fee is restricted to pay for planning, design, construction, and financing associated with expansion, replacement or betterment facilities. The “buy-in” portion may be shifted back and forth between expansion, betterment or replacement as the financing needs change. The “incremental” portion of the capacity fee is limited to planning, design, construction, and financing exclusively for expansion facilities (excluding new water supply expansion). g. Sewer Capacity Fees (Restricted) Sewer capacity fees are based on the value of existing and future facilities divided by the number of existing and future equivalent dwelling units. This method of calculating capacity fees is called the combined method, where the “buy-in” portion of the capacity fee covers cost to repay existing customers for the facilities that they have built, and where the “incremental” portion of the capacity fee covers the cost of future expansion facilities. The “buy-in” portion of the capacity fee is restricted to pay for planning, design, construction, and financing associated with expansion, replacement or betterment facilities. The “buy-in” portion may be shifted back and forth between expansion, betterment or replacement as the financing needs change. The “incremental” portion of the capacity fee is limited to planning, design, construction, and financing exclusively for expansion facilities. For parcels within a sewer ID the calculation excludes the tax debt already paid by these customers therefore, producing a lower fee than for parcels outside of a sewer ID. The capacity fees are restricted to pay for planning, design, construction, and financing associated with the expansion, replacement, or betterment of facilities. 4 Code of Ordinances, Section 28. 205 Reserve Policy Facility needs are based on projected land use planning. Changes in anticipated future land use occur and can alter projected facility requirements. Thus, both the anticipated facilities needs and their projected costs change over time as regulatory agencies make changes to land use. The District periodically reviews the capacity fee calculation to accommodate such variations. These fees are paid by developers. The District’s construction of infrastructure occurs prior to the addition of EDUs. This sequence serves two purposes: one it ensures that the District can serve the pending construction as it is completed; and two, it is more efficient to oversize many facilities at the outset rather than build for the current need and then reconstruct when the future need is realized. As a result of this strategy, the District has financed construction with bond financing as the existing expansion reserves are depleted. The water capacity fee is calculated based on the combined recycled and potable water systems’ needs. This methodology is used because the two water systems work hand-in-hand. All capacity fees can be used for either potable or recycled but must be tracked to distinguish between the “buy-in” and “incremental” portions as described above. So, while capacity fees are not restricted separately by potable and recycled, they are tracked separately.                     2.1 Customers/Users a. Uniform Rates and Charges (General Use) Charges to users for water, sewer, and recycled water are uniform throughout the District for similar customer types. b. Monthly System Fees (General Use) This is a fixed revenue source that is charged monthly. The amount of the charge is based on the meter size. DEVELOPERS Diagram 2.0: Flow of Funds - Developer Sources Unrestricted and  Undesignated  (General Use) Funds Meter  Installation   Charges  Developer  Deposits  Restricted Funds  Annexation  Fees  Capacity   Fees  New Water  Supply Fees  206 Reserve Policy c. Energy Charges (General Use) The energy pumping fee is a charge per Unit of water for each 100 feet of lift, or fraction thereof, above the base elevation of 450 feet. This charge is placed on the monthly water bills of all water customers. d. Penalties (General Use) Penalties are added to the monthly water and sewer bills for late charges, locks, etc. e. Pass-through Fixed Charges (General Use) A fixed monthly charge to the District’s customers intended to collect sufficient funds to pass-through the increased fixed costs from the County Water Authority (CWA) and the Metropolitan Water District (MWD). f. Special Rates and Charges (General Use) In addition to the uniform water and sewer charges, the District has a special sewer rate for the Russell Square lift station. The Russell Square fee is for construction, installation, maintenance or repair of the Russell Square lift station. This fee is collected in accordance with the Russell Square sewer charge (see Code of Ordinances Section 53.03B). g. Temporary Meter Fees (General Use/Restricted) Water charges, in lieu of capacity fees, are charged on temporary meters. This is done because temporary meters use system capacity but they are not charged a capacity fee. Temporary water use is charged at two times the water rate with the added charge placed in the Restricted Expansion Fund. The primary users of these temporary meters are developers; however, general customers also use these for various purposes. CUSTOMERS / USERS  Diagram 2.1: Flow of Funds - Customer Sources Unrestricted and  Undesignated (General Use) Funds  Monthly  System Fees  Restricted Funds  Energy  Charges Penalties  Pass –Through Fixed Charges 2x Water     Rate  Special Rates and Charges  Uniform Rates  and Charges 207 Reserve Policy 2.2 County-Collected Taxes and Fees a. General Levy Property Tax Receipts (1% Property Tax) (General Use) In 1978, Proposition 13 limited the levy of ad valorem property taxes on real property to one percent of the assessed value of such property. Subsequent legislation, AB 8, established that the receipts from the one percent levy were to be distributed to taxing agencies proportionate to each agency’s general levy receipts prior to Proposition 13. Taxes received are for general use. Spending limits for the District are governed by the 1979 passage of California Proposition 4, Limitations of Government Appropriations (GANN limit). Proposition 4 places an appropriation limit on most spending from tax proceeds. b. Availability Charges (General Use/Restricted) The District levies availability charges each year in developed and undeveloped areas. Current legislation provides that any amount up to $10 per parcel is general use and any amount over $10 per parcel is restricted to be expended in and for the improvement district (ID) within which it is collected. Accordingly, the District may use availability charges in excess of $10 toward costs of water and sewer facilities which are either, expansion, betterment, or replacement of facilities consistent with the purpose of the ID in which they are collected. This portion of the proceeds of availability charges is geographically restricted and restricted by purpose. As costs are incurred on these projects the respective IDs are charged, reducing the reserves. To the extent that availability charges are not used for the purpose for which they are collected, they must be returned to the property owners that paid them. The District has historically used these reserves for betterment capital facilities thus, the restricted reserves are accounted for in “sub-funds” of the Betterment Fund (See 2.1 f.). c. Improvement District General Obligation (GO) Bond Assessments (Restricted) The District has historically issued general obligation (GO) debt and establishes an improvement district for the repayment of that debt. When this financing method is used, the county tax roll can be used to collect special taxes or assessments within the ID to pay the debt obligation. The proceeds of the debt are restricted for the purpose as defined in the bond documents. 208 Reserve Policy 2.3 Miscellaneous Income a. Miscellaneous Rents and Leases (General Use) Revenues received from the rental and lease of District property are general use revenues. Not only are they periodic revenues, but there is also a one-time fee charged with the setup of each new lease. The District incurs expenses related to these rents and leases. The one-time fees are calculated to recover the costs to setup the leases. b. Sewer Billing Fees (General Use) Sewer billing fees are general use revenues. The District provides processing and billing services to the City of Chula Vista to bill and collect from their customers for sewer service. These fees are to recover the cost the District incurs to provide this service. c. Interest Income or Expense Allocation (General Use, Designated, and Restricted) Interest income (expense) will be allocated every month based upon each fund's month-ending balance. In this way, each fund receives credit for interest earned by that fund and each fund with a negative balance is charged for the use of the other fund’s reserves. COUNTY COLLECTED TAXES AND FEES  Unrestricted and  Undesignated (General Use) Funds  General Levy  Property Tax  Receipts  Availability  Charges  Restricted Funds  General Obligation  Bond Assessments  Diagram 2.2: Flow of Funds – County Collection Sources 209 Reserve Policy 2.4 Debt Issuance a. Loans (General/Restricted Use) As the District determines that additional financing is required for a particular purpose, the option of borrowing is considered. The determination to borrow is made as a part of the annual rate model update and is evaluated in accordance with the Debt Policy before it is recommended to the Board for action. As an option to bond indebtedness, loans are available to satisfy short-term financing needs. These loans may or may not be contractually restricted for a particular purpose. b. General Obligation (GO) Bonds (Restricted) As the District becomes more developed it becomes less likely that general obligation debt will be used as it requires a vote of the public to be approved. Bond proceeds are restricted for the construction of those facilities identified in the GO bond issuance. Occasionally, specific portions of bond proceeds may be allocated for the repayment of the principal and interest, also called debt service, on these bonds. As the District determines that additional financing is required for a particular purpose, the option of debt issuance is considered. The determination to issue debt is made as a part of the annual rate model update and is evaluated in accordance with the Debt Policy before it is recommended to the Board for action. c. Certificates of Participation (COPs) (Restricted) General revenues of the District are pledged as security for Certificates of Participation (COPs) indebtedness. If the District determines that additional financing is required for a particular purpose, the option of debt issuance is considered. The determination to issue debt is made as a part of the annual rate model update and is evaluated in accordance with the Debt Policy before it is recommended to the Board for action. This form of financing has become the industry’s preferred form of financing as it does not require a vote of the general public. MISCELLANEOUS INCOME Unrestricted and  Undesignated  (General Use) Funds  Miscellaneous  Rents and Leases  Sewer Billing  Fees    Restricted Funds  Interest Income or  Expense Allocation  Diagram 2.3: Flow of Funds – Miscellaneous Income Sources   Designated Funds  210 Reserve Policy 2.5 Inter-fund Transfers Each year in the budgeting process, future fund levels are projected for the next six years. Based on these projections transfers are recommended. Reserves may be transferred between Unrestricted or Designated Funds and the General Fund (see 4.0 “Funding Levels” and 4.1 “Fund Transfers”). Reserves may not be transferred to or from any of the restricted funds unless it is between two restricted funds with a shared purpose. Fund Types and Categories 3.0 General Funds a. Purpose The General Fund is neither restricted nor designated. The District maintains one General Fund for each business segment (water, sewer, and recycled). This fund holds the working capital and emergency operating reserves. While the General Fund has a short-term focus to finance the District’s annual operations, it is supported by the six-year rate model. This fund is primarily used to finance the operations of the District; however, it can be used for any District purpose. This fund can be used to supplement the District’s rates and charges and be a temporary source of revenue to balance the Operating Budget. This fund can also be used to avoid spikes in the rates or significant and abrupt increases. It is an industry practice to have a fund that can be used to stabilize rates. This would only occur if there was a temporary need for reserves that would smooth out a rate spike or to ramp up what would otherwise be a dramatic rate increase. The General Fund also plays a role in the debt planning of the District. This fund is viewed by the debt markets as a commitment by the District to ensure financial stability of the rates and charges of DEBT PROCEEDS  Unrestricted and  Undesignated  (General Use) Funds  Loans General   Obligation Bonds    Restricted Funds  Certificates of  Participation   Diagram 2.4: Flow of Funds – Debt Issuance Sources 211 Reserve Policy the District. The District is anticipated to need a number of debt issuances over the years and this fund will help the District not only to stabilize rate fluctuations but also to access low cost financing for future projects. b. Sources Meter installation charges, temporary meter fees, uniform rates and charges, monthly system fees, energy charges, penalties, pass-through fixed charges, general levy property tax receipts, water annexation fees, availability charges, miscellaneous rents and leases, sewer billing fees, interest income or expense allocation, loans, and a portion of the temporary water sales. The sewer general fund receives sewer charges, penalties, availability charges, sewer annexation fees, and interest income or expense allocation. c. Funding Levels I. Minimum Level – The minimum reserve level for each business segment of the General Fund is three months of operating budget expenses (evaluated separately for each segment). II. Maximum Level – The maximum reserve level for the General Fund is nine months of operating budget expenses. In the event that this fund exceeds the seven month level, the excess will be evaluated or transferred to one or more of the designated funds. III. Target Level – The target level of reserves is three months of operating budget expenses. In the event that the fund drops below the target level, rate increases or fund transfers would be considered. 3.1 Designated Other Post Employment Benefits (OPEB) Fund a. Purpose Designated Other Post Employment Benefits (OPEB) reserves are “general use” reserves that have been set apart by Board action to finance the medical benefits of qualified retirees as outlined in the District’s benefits plan. This fund is available to hold any Board designated OPEB funds. The District also has a trust at CalPERS and is restricted for the purpose of financing the OPEB liability. Money held in the CalPERS trust restricts the funds from any use other than OPEB. The two funds are considered jointly when looking at target reserve levels. Every two years, an actuarial study is performed to update the annual financing requirements. Changes in the actuarial valuation may result from changes in benefit levels, employee population, health insurance costs, or general market conditions. b. Sources The OPEB liability may be financed by general use reserves coming from user rates and charges, either from an operating budget expenditure or from interfund transfers. Transfers of unrestricted reserves may come from the various designated funds or from the General Fund. As a part of the normal budget process, annual operating revenues have been sufficient to finance the ongoing 212 Reserve Policy needs of this designated fund. While debt financing is also an option, the District has only used user rates and charges to finance this fund. c. Funding Levels I. Minimum Level – The minimum reserve level for this fund is equal to the District’s OPEB liability as determined by the actuarial study. When considering the reserve level of this fund, both the District held OPEB reserves and CalPERS held OPEB reserves must be considered jointly. II. Maximum Level – The maximum reserve level for this fund is equal to the District’s OPEB liability as determined by the actuarial study. In the event that the two funds, as described above, exceed the OPEB liability, the District will reduce the annual funding levels as defined by the actuarial study. III. Target Level – The target reserve level for this fund is equal to the District’s OPEB liability as determined by the actuarial study. In the event that the two funds, as described above, fall below the OPEB liability, the District will increase the annual funding levels as defined by the actuarial study. 3.2 New Water Supply Fund Category a. Purpose The New Water Supply Fund category is to finance the expansion portion of new water supply projects and is therefore to be paid by developers. When considering the reserve level of the New Water Supply category; the New Water Supply Fund, the New Water Supply Debt Fund, and the Designated New Water Supply Fund all work in concert and must be considered jointly. b. Sources The New Water Supply Fund receives reserves only from the new water supply fee. Other funds within the new water supply category of funds receive debt proceeds and general use reserves through a designation to this category. c. Funding Levels I. Minimum Level – As the District matures the CIP will move to purely replacement projects. As the District moves through its lifecycle the need for new water supply reserves will decrease and may be reduced to zero. II. Maximum Level – The maximum reserve level for the new water supply category of funds is limited to five years of the unfinanced new water supply facilities as described in the District’s CIP Budget. To determine the unfinanced amount, the total new water supply financing needs must be reduced by the projected new water supply revenues, general fund designations, and bond financing. If the combined new water supply reserves exceed the target level, the District should consider transferring designated reserves to meet other purposes, reduce the new water supply fee, or change the timing of the new water supply projects. 213 Reserve Policy III. Target Level – In order to facilitate debt financing of the new water supply, it is important that the various new water supply funds retain an overall reserve level of six months, prior to any attempt to obtain debt financing. This reserve level allows the District the time necessary to issue additional debt without depleting new water supply reserves. If the combined new water supply reserve levels drop below six months of expenditures, this would trigger a transfer of general use reserves, a bond sale, or a change in the timing of new water supply projects. Bond proceeds would be placed in the Restricted New Water Supply Debt Fund while transfers would be placed in the Designated New Water Supply Fund. Restricted Funds  Unrestricted and   Undesignated Funding               Sources  Funding Source New Water  Supply Fees Debt  Proceeds Restricted Funds  Restricted Funds  Designated Funds  New Water  Supply Fund Expansion  New Water  Supply  Fund  Designated  New Water  Supply Fund Debt Fund  General Fund –Rates and Charges New Water  Supply Fund  Category New Water  Supply   Debt Fund Diagram 3.2: New Water Supply Fund Category 214 Reserve Policy 3.3 Expansion Fund Category a. Purpose The Expansion Fund category is to finance the expansion portion of capital projects and therefore is to be paid for by developers. When considering the reserve levels of the expansion category, the following funds work in concert and must be considered jointly: the Expansion Fund, Expansion Debt Fund, Capital Improvement Fund, and the Designated Expansion Fund. Potable and recycled reserves are considered jointly while sewer is evaluated separately. b. Sources The Expansion Fund is financed by water charges in lieu of capacity fees (for temporary meters) and the “incremental” portion of the capacity fee. The other funds in this category may also be financed by debt proceeds, the “buy-in” portion of the capacity fee, and the general fund through a designation of reserves. c. Funding Levels I. Minimum Level – As the District matures the CIP will move to purely replacement and betterment projects. As the District moves through this lifecycle the need for expansion reserves will decrease and may be reduced to zero. II. Maximum Level – The maximum reserve level for the expansion category of funds is limited to five years of unfinanced expansion facilities as described in the District’s CIP Budget. To determine the unfinanced amount, the total financing needs must be reduced by the projected expansion revenues, bond financing, and any restricted or general fund revenues allocated to this fund category. If the combined expansion reserves exceed target levels, the District should consider reducing capacity fees, reallocating restricted or designated funds to meet other purposes, or shifting the timing of expansion projects. III. Target Level – The target level is six months of expansion expenditures. It is important that the expansion reserves remain at a minimum of six months of expansion expenditures. This reserve level allows the District the time necessary to issue additional debt without depleting expansion reserves. If the combined expansion reserves drop below six months of expenditures this would trigger a transfer of general use reserves, a bond sale, an adjustment to the timing of expansion projects, or a reallocation of restricted reserves. Bond proceeds would be placed in the Restricted Bond Fund, transfers of general use reserves would be placed in the Designated Expansion Fund, and transfers of restricted reserves would be placed in the Expansion Capital Improvement Fund. 215 Reserve Policy 3.4 Replacement Fund Category a. Purpose The Replacement Fund category is to finance replacement projects. When considering the reserve levels of the replacement category of funds, the following funds work in concert and must be considered jointly: the Debt Fund, Capital Improvement Fund, and the Designated Replacement Fund. The purpose of these reserves is to pay for the replacement of capital infrastructure and capital purchases. These reserves are not to be used for the replacement of non-capital items. Unrestricted and   Undesignated Funding             Sources  Funding Source 2x Water  Rates  Capacity  Fees (1)  Restricted Funds  Restricted Funds  Designated Funds  Expansion   Fund  Expansion   Debt Fund General Fund –Rates and Charges Restricted Funds Expansion Capital  Improvement  Fund Debt Proceeds Restricted Funds  Capital  Improvement  Fund Bond  Debt  Expansion   Fund  Designated  Expansion Fund Expansion  Fund  Category  32.4% 67.6% Diagram 3.3: Expansion Fund Category (1) For Water Capacity Fees 32.4% goes into the Expansion fund and 67.6% goes into the Capital Improvement Fund. For Sewer Capacity Fees 100% goes to the Capital Improvement Fund. 216 Reserve Policy With the District’s development of its financial systems and the greater need and ability to separate and track reserves, the replacement reserves have been separated into three funds: water, recycled, and sewer. Projects undertaken solely for the purpose of replacing major capital equipment or facilities, i.e., where the cost exceeds $10,000 for capital purchases or $20,000 for infrastructure items, generally these are not considered normal maintenance. When the cost is below $10,000, the costs are financed annually as operational maintenance. As charges are incurred on replacement projects the reserves are deducted from the respective Replacement Funds on a monthly basis. b. Sources The various funds in this category are financed by debt proceeds, the “buy-in” portion of the capacity fee, and general fund designations. c. Funding Levels I. Minimum Level – The minimum reserve level of this category of funds is 3% of the historical value of existing assets as identified in the District’s current financial statements. Potable, recycled, and sewer replacement are evaluated separately. II. Maximum Level – The maximum reserve level of this category of funds is 6% of existing assets. If the combined replacement reserves exceed target levels, the District should consider transferring the “buy-in” portion of the capacity fee to meet other purposes. Another consideration would be to shift the timing of replacement projects. III. Target Level – The target reserve level of this category of funds is 4% of existing assets. In the event that the reserves fall below the recommended target level, the District should consider transferring the “buy-in” portion of the capacity fee. The District should also consider shifting the timing of replacement projects or issuing debt to support the planned level of facility replacement. The District will act based on the annual six-year rate model, to insure that at the end of that planning horizon the reserves exceed the minimum level and is approaching the target level. 217 Reserve Policy (1) For Water Capacity Fees 67.6% goes into the Capital Improvement Fund. For Sewer Capacity Fees 100% goes into the Capital Improvement Fund. 3.5 Betterment Fund Category a. Purpose The Betterment Fund category is to finance the betterment portion of capital projects with a portion going to maintenance of the potable, recycled, and sewer systems. The District maintains separate Betterment Fund categories, one for each improvement district. An improvement district is a legally defined geographic area usually established for the purpose of bond financing of facilities. The betterment reserves within these funds are restricted by law for use within the improvement district in which the fees were collected (Water Code 71631.6). However, the legal restriction of this reserve depends upon the particular revenue source. (See Section 2.2 b. for a review of the availability fees). When considering the reserve levels of the betterment category of funds, the following funds work in concert and must be considered jointly: the Betterment Fund, Debt Fund, Capital Improvement Fund, and Designated Betterment Fund. Funding Source Capacity  Fees (1)  Diagram 3.4: Replacement Fund Category Restricted Funds  Restricted Funds    Designated Funds  Capital  Improvement Fund Replacement  Debt Fund  Designated  Replacement  Fund General und –Rtes and Charges Debt  Proceeds Debt Fund  Restricted Funds  Replacement   Capital  Improvement  Fund  Replacement  Fund  Category  4%  218 Reserve Policy b. Sources The Betterment Fund category receives restricted revenues by improvement district from availability fees (the first $10 is unrestricted, while amounts over $10 are restricted) collected through the county tax roll. Betterment may also be financed by debt proceeds, the “buy-in” portion of the capacity fee, as well as the general fund through a designation of reserves. c. Funding Levels I. Minimum Level – As the District matures the CIP will move to purely replacement projects. As the District moves through this lifecycle the need for betterment reserves will decrease and may be reduced to zero. II. Maximum Level – The maximum reserve level for the betterment category of funds is limited to five years of unfinanced betterment facilities as described in the District’s CIP Budget. To determine the unfinanced amount, the total financing need must be reduced by the projected betterment revenues, bond financing, and general fund designations. If this maximum is exceeded, then the District should evaluate reductions in the special water rates and availability fees, transferring designated reserves to meet other purposes, or shifting the timing of betterment projects. III. Target Level – The target is six months of betterment expenditures. It is important that the betterment reserves remain at a minimum of six months of betterment expenditures. This reserve level allows the District the time necessary to issue additional debt without depleting betterment reserves. If the combined betterment reserves drop below six months of expenditures this would trigger a transfer of general use reserves, a bond sale, or an adjustment to the timing of betterment projects. Bond proceeds would be placed in the Betterment Bond Fund while transfers would be placed in the Designated Betterment Fund. 219 Reserve Policy Unrestricted and   Undesignated Funding             Sources      Diagram 3.5: Betterment Fund Category Funding Source Capacity Fees (2) Restricted Funds  Restricted Funds  Designated Funds  Capital  Improvement  Fund Betterment  Debt Fund Betterment  Fund  General Fund – Rates and Charges  Availability Charges (1)  Restricted Funds  Debt Proceeds Restricted Funds  Bond  Debt  Designated  Betterment Fund Betterment  Fund Betterment  Capital  Improvement  Fund  Betterment  Fund  Category  (1) The portion of charges over $10 per parcel is restricted. (2) For Water Capacity Fees 67.6% goes into the Capital Improvement Fund. For Sewer Capacity Fees 100% goes into the Capital Improvement Fund. 220 Reserve Policy Diagram 3.6: Fund Targets Fund or Fund  Category  Actions to Consider if  below Target Target Maximum  New Supply Fund  Category  New supply fee  increase, bond  financing, or transfer to  designated or CIF Funds  Total of all funds in fund  category = six months  of capital expenditures  Nexus of cost to fee  Expansion Fund  Category  Capacity fee increase,  bond financing, or  transfer to designated  or CIF Funds   Total of all funds in fund  category = six months  of capital expenditures  Nexus of cost to fee  Replacement Fund  Category  Bond financing, or  transfer to designated  or CIF Funds   Total of all funds in fund  category = 4% of  infrastructure  Nexus of cost to fee  Betterment Fund  Category  Bond financing, or  transfer to designated  or CIF Funds   Total of all funds in fund  category = six months  of capital expenditures  5 years unfunded  needs  Debt Reserve Fund Increase tax collection  or rates  One semi‐annual  payment  Two semi‐annual  payments  OPEB Fund Fund transfers Full funding Full funding  General Fund Rate increase or fund  transfers  Three months of  operating budget  expenses  Nine months of  operating budget  expenses    Additional Restricted Funds 4.0 Capital Improvement Fund a. Purpose The “Capital Improvement Fund’s sole purpose is to track the “buy-in” portion of the capacity fee and to ensure these fees are expended solely for the purpose for which they were collected. In this case it is to pay for facilities that were in existence at the time this fee was established. These fees may be used for expansion, replacement, or betterment projects or any debt related to these categories. The water capacity fees may also be used for either the potable or the recycled systems. As capacity fees are collected, the “buy-in” portion of the fee is allocated as needed to one of three capital improvement funds, one in each of the Expansion, Replacement, and Betterment Fund categories. These reserves are used to pay debt or offset any negative balance within these three categories of funds. For sewer, these fees fund the Expansion, Replacement, or Betterment Fund categories. 221 Reserve Policy These fees may not be used to finance the New Water Supply category, as there were no new water supply facilities in existence at the time the new methodology for capacity fees was established. b. Sources The “buy-in” portion of the capacity fee collected after June 30, 2010 or after September 30, 2014 for sewer. c. Funding Levels There are no minimums, maximums, or target levels for these reserves on an individual basis. The allocation of this fee to the various capital improvement funds is dependent on the overall reserve levels within each fund category. 4.1 Debt Reserve Fund a. Purpose The Debt Reserve Fund is established to hold the proceeds from the various debt issuances. There are two types of debt, General Obligation bonds and Certificates of Participation bonds. The proceeds are transferred to the New Water Supply, Expansion, Replacement, or Betterment Debt Funds as they are expended for various facilities within those fund categories. As repayment of the debt occurs, the balances within these individual funds are reduced so that the financial impact of issuing debt is tracked within the category for which the debt was issued. b. Sources Debt proceeds. c. Uses There are no minimums, maximums, or target levels for this fund on an individual basis. This fund is available on an as needed basis to fund CIP projects for new water supply, expansion, replacement, or betterment. From a funding level perspective, these reserves are evaluated in the context of all the various funds within each fund category. Fund Transfers 5.0 Funding Levels As described in the preceding sections, the District maintains reserves for its operating and capital activities. These reserves can be of three types: 1) undesignated or general use reserves, 2) designated, and 3) restricted for a specific purpose. The restricted reserves can be restricted geographically and/or by purpose. The District maintains various funds to track the various designations and restrictions. The source of the money for each fund was discussed along with the purpose, source of funds, and levels. Key characteristics of these funds are the target levels, minimums, and maximums. The funding levels must be viewed in the context of the economic environment, political environment, and in light of the District’s rate model. The District’s six-year rate model not only shows the current balance but also shows the trend of the fund balances. Often the trend of the fund is a greater indicator of financial stability than is the current balance. 222 Reserve Policy The rate model is updated each year with the budget process and evaluates each fund over the next six years. The rate model will take into account the general economic environment, looking at the development rate, supply rate increases, the possibility of raising rates, capital infrastructure spending, and strategic plan initiatives. The fund balances may at times be over or under the target amount. This is not only acceptable but expected. The rate model provides an empirical estimate of the conformance between the projected District’s financial activities and the guidelines of this policy. 5.1 Fund Transfers Reserves within the District’s various designated funds come from interfund transfers of unrestricted general use reserves. It is important to note that the District has the ability to use general use reserves for any business purpose. General use reserves may be transferred to and from any unrestricted fund for any business need. Designated reserves are general use reserves which have been set aside for a specific purpose by Board action. These reserves can only be used for the purpose they were designated, or with Board action they may be used for any other business purpose. While general use reserves may be used for any restricted purpose they may not be transferred to Restricted Funds due to the sensitivity of the tracking of restricted reserves. If reserves are needed for a restricted purpose they are transferred to a Designated Fund within the fund category with that particular purpose. Reserves restricted to a fund category may only be used within that category and may not be transferred to another category. For example, the new water supply fee and the “incremental” portion of the capacity fee are restricted reserves for a specific purpose, and may not be transferred to another category as no other category has the same purpose. However, the “buy-in” portion of the capacity fees are restricted for purposes that are shared by more than one category of funds and may therefore be transferred to a restricted fund within another fund category as long as it shares the same purpose. In many situations reserve transfers are expected as some fund categories will exceed their maximums or drop below their minimums. Only fund categories that are below the stated target are eligible to receive transferred reserves. Fund categories that exceed their maximums are first to be considered for transfers out, followed by funds that exceed their targets. Funds that exceed their minimums are also available for reserve transfers out, but only when other options are not available. The rationale for prioritizing reserve transfers is based on the immediacy of the need and the availability of reserves from other funding sources. For example, the General Fund is first to receive reserves when it drops below its target or minimum levels. This is because of the immediate and ongoing nature of the expenditures that are served by this fund. The operation of the District is first and foremost of the objectives of the District. On the other end of the spectrum, the Replacement Fund has a long-term perspective and will be used to partially finance replacement assets for many years to come. Debt financing is available to respond to this long term, foreseeable, and planned cash flow. This fund is less likely to have immediate needs and has other financing options. When making the determination of when transfers are necessary, all funds within a fund category work as a group. The combined balance of the restricted and designated funds is looked at when determining whether the fund category requires additional funding from the Restricted Capital Improvement Fund, 223 Reserve Policy Restricted Debt Fund, or the General Fund. Because the Capital Improvement Fund may finance expansion, replacement or betterment reserves may be transferred between these fund categories, but only back and forth within its own type of restricted fund. As an example, if during the rate model update process it was determined that the Expansion Funds (designated and restricted) would drop and stay below the minimum during the six-year planning horizon, this would trigger a bond sale, a transfer of general use reserves, and/or a transfer of restricted reserves. If in the cash planning process, it was anticipated that the General Fund would remain above target during the planning horizon and that the trend did not present a problematic underfunded status, then General Fund reserves would be considered available for transfer prior to making proceeds available from a bond sale. Also, if during this period the Betterment Fund category was anticipated to exceed its maximum, then reserves from either the Designated Betterment Fund, or the Capital Improvement Fund would be transferred to the corresponding Expansion Fund prior to a bond sale. All funds are evaluated to determine which has the greatest need or availability of reserves before any reserve transfer recommendation is presented to the Board. 224 Glossary The Reserve Policy contains terminology that is unique to public finance and budgeting. The following glossary provides assistance in understanding these terms. Annexation Fees: When water service is requested for land outside the boundaries of the District, the land to be serviced must first be annexed. For sewer service the land must be annexed into an improvement district within the District. Assets: Resources owned or held by Otay Water District that has monetary value. Availability Fees: The District levies charges each year in developed areas to be used for upgrades, betterment, or replacement and in undeveloped areas to provide a source of funding for planning, mapping, and preliminary design of facilities to meet future development. Current legislation provides that any availability charge in excess of $10.00 per acre shall be used only for the purpose of the improvement district for which it was assessed. Bond: A written promise to pay a sum of money on a specific date at a specified interest rate. The interest payments and the repayment of the principal are authorized in a District bond resolution. The most common types of bonds are General Obligation (GO) bonds and Certificates of Participation (COPs). These are frequently used for construction of large capital projects such as buildings, reservoirs, pipelines and pump stations. Capital Equipment: Fixed assets such as vehicles, marine equipment, computers, furniture, technical instruments, etc. which have a life expectancy of more than two years and a value over $10,000. Capital Improvement Program: A long-range plan of the District for the construction, rehabilitation and modernization of the District-owned and operated infrastructure. CWA: The County Water Authority was organized in 1944 under the State County Water Authority Act for the primary purpose of importing Colorado River water to augment the local water supplies of the Authority's member agencies. The Authority purchases water from the Metropolitan Water District of Southern California (MWD) which imports water from the Colorado River and the State Water Project. Debt Service: The District's obligation to pay the principal and interest of bonds and other debt instruments according to a predetermined payment schedule. Expenditures/Expenses: These terms refer to the outflow of funds paid or to be paid for an asset, goods, or services obtained regardless of when actually paid for. (Note: An encumbrance is not an expenditure). An encumbrance reserves funds to be expended in a future period. Fund: An account used to track the collection and use of monies for a specifically defined purpose. 225 Glossary Fund Balance: The current funds on hand resulting from the historical collection and use of monies. The difference between assets and liabilities reported in the District’s Operating Fund plus residual equities or balances and changes therein, from the results of operations. Interest Income: Earnings from the investment portfolio. Per District Policy Number 25, interest income will be allocated to the various funds each month based upon each fund’s prior month-ending balance. Late Charges/Penalties: Charges and penalties are imposed on customer accounts for late payments, returned payments, and other infringements of the District’s Code of Ordinances. 1% Property Tax: In 1978, Proposition 13 limited general levy property tax rates for all taxing authorities to a total rate of 1% of full cash value. Subsequent legislation, AB 8, established that the receipts from the 1% levy were to be distributed to taxing agencies according to approximately the same proportions received prior to Proposition 13. Operating Budget: The portion of the budget that pertains to daily operations that provide basic governmental services. The operating budget contains appropriations for such expenditures as personnel, supplies, utilities, materials, travel and fuel, and does not include purchases of major capital plant or equipment which is budgeted for separately in the Capital Budget. The Operating Budget also identifies planned non-operating revenues and expenses. Revenue: Monies that the District receives as income. It includes such items as water sales and sewer fees. Estimated revenues are those expected to be collected during the fiscal year. Russell Square: A sewer lift station constructed in 1983 that serves four properties in the Russell Square Development. System Fees: Each water service customer pays a monthly system charge for water system replacement, maintenance, and operation expenses. The charge is based on the size of the meter and class of service. Tax Collection for Bond Debt: California Water Code Section 72091 authorizes the District, as a municipal water district, to levy ad valorem property taxes which are equal to the amount required to make annual payments for principal and interest on General Obligation bonds approved by the voters prior to July 1, 1978. Unit: A unit of water is 100 cubic feet or 748 gallons of water. Water Rates: Rates vary among classes of service and are measured in Units. The water rates for residential customers are based on an accelerated block structure. As more Units are consumed, a higher Unit rate is charged. Effective in 2009, all non-residential customers are charged for water based on a tiered rate structure in which water rates are based on meter size and amount of Units consumed. 226 Investment Policy 1.0 POLICY It is the policy of the Otay Water District to invest public funds in a manner which will provide maximum security with the best interest return, while meeting the daily cash flow demands of the entity and conforming to all state statues governing the investment of public funds. 2.0 SCOPE This investment policy applies to all financial assets of the Otay Water District. The District pools all cash for investment purposes. These funds are accounted for in the District’s audited Comprehensive Annual Financial Report (CAFR) and include: 2.1) General Fund 2.2) Capital Project Funds 2.2.1) Designated Expansion Fund 2.2.2) Restricted Expansion Fund 2.2.3) Designated Betterment Fund 2.2.4) Restricted Betterment Fund 2.2.5) Designated Replacement Fund 2.2.6) Restricted New Water Supply Fund 2.3) Other Post Employment Benefits Fund (OPEB) 2.4) Debt Reserve Fund Exceptions to the pooling of funds do exist for tax-exempt debt proceeds, debt reserves and deferred compensation funds. Funds received from the sale of general obligation bonds, certificates of participation or other tax-exempt financing vehicles are segregated from pooled investments and the investment of such funds are guided by the legal documents that govern the terms of such debt issuances. 3.0 PRUDENCE Investments should be made with judgment and care, under current prevailing circumstances, which persons of prudence, discretion and intelligence, exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived. The standard of prudence to be used by investment officials shall be the “Prudent Person” and/or "Prudent Investor" standard (California Government Code 53600.3) and shall be applied in the context of managing an overall portfolio. Investment officers acting in accordance with written procedures and the investment policy and exercising due diligence shall be relieved of personal responsibility for an individual security's credit risk or market price changes, provided deviations from expectations are reported in a timely fashion and appropriate action is taken to control adverse developments. 227 Investment Policy 4.0 OBJECTIVE As specified in the California Government Code 53600.5, when investing, reinvesting, purchasing, acquiring, exchanging, selling and managing public funds, the primary objectives, in priority order, of the investment activities shall be: 4.1) Safety: Safety of principal is the foremost objective of the investment program. Investments of the Otay Water District shall be undertaken in a manner that seeks to ensure the preservation of capital in the overall portfolio. To attain this objective, the District will diversify its investments by investing funds among a variety of securities offering independent returns and financial institutions. 4.2) Liquidity: The Otay Water District’s investment portfolio will remain sufficiently liquid to enable the District to meet all operating requirements which might be reasonably anticipated. 4.3) Return on Investment: The Otay Water District’s investment portfolio shall be designed with the objective of attaining a benchmark rate of return throughout budgetary and economic cycles, commensurate with the District’s investment risk constraints and the cash flow characteristics of the portfolio. 5.0 DELEGATION OF AUTHORITY Authority to manage the Otay Water District’s investment program is derived from the California Government Code, Sections 53600 through 53692. Management responsibility for the investment program is hereby delegated to the Chief Financial Officer (CFO), who shall be responsible for all transactions undertaken and shall establish a system of controls to regulate the activities of subordinate officials and their procedures in the absence of the CFO. The CFO shall establish written investment policy procedures for the operation of the investment program consistent with this policy. Such procedures shall include explicit delegation of authority to persons responsible for investment transactions. No person may engage in an investment transaction except as provided under the terms of this policy and the procedures established by the CFO. 6.0 ETHICS AND CONFLICTS OF INTEREST Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with the proper execution and management of the investment program, or that could impair their ability to make impartial investment decisions. Employees and investment officials shall disclose to the General Manager any material financial interests in financial institutions with which they conduct business. They shall further disclose any personal financial/investment positions that could be related to the 228 Investment Policy performance of the investment portfolio. Employees and officers shall refrain from undertaking personal investment transactions with the same individual with whom business is conducted on behalf of the District. 7.0 AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS The Chief Financial Officer shall maintain a list of financial institutions authorized to provide investment services. In addition, a list will also be maintained of approved security broker/dealers who are authorized to provide investment services in the State of California. These may include “primary” dealers or regional dealers that qualify under Securities & Exchange Commission Rule 15C3-1 (Uniform Net Capital Rule). No public deposit shall be made except in a qualified public depository as established by state laws. All financial institutions and broker/dealers who desire to become qualified bidders for investment transactions must supply the District with the following, as appropriate:  Audited Financial Statements.  Proof of Financial Industry Regulatory Authority (FINRA) certification.  Proof of state registration.  Completed broker/dealer questionnaire.  Certification of having read the District’s Investment Policy.  Evidence of adequate insurance coverage. An annual review of the financial condition and registrations of qualified bidders will be conducted by the CFO. A current audited financial statement is required to be on file for each financial institution and broker/dealer in which the District invests. 8.0 AUTHORIZED AND SUITABLE INVESTMENTS From the governing body perspective, special care must be taken to ensure that the list of instruments includes only those allowed by law and those that local investment managers are trained and competent to handle. The District is governed by the California Government Code, Sections 53600 through 53692, to invest in the following types of securities, as further limited herein: 8.01) United States Treasury Bills, Bonds, Notes or those instruments for which the full faith and credit of the United States are pledged for payment of principal and interest. There is no percentage limitation of the portfolio which can be invested in this category, although a five-year maturity limitation is applicable. 8.02) Local Agency Investment Fund (LAIF), which is a State of California managed investment pool, may be used up to the maximum permitted by State Law (currently $65 million). The District may also invest bond proceeds in LAIF with the same but independent maximum limitation. 229 Investment Policy 8.03) Bonds, debentures, notes and other evidence of indebtedness issued by any of the following government agency issuers:  Federal Home Loan Bank (FHLB)  Federal Home Loan Mortgage Corporation (FHLMC or "Freddie Mac")  Federal National Mortgage Association (FNMA or "Fannie Mae")  Government National Mortgage Association (GNMA or “Ginnie Mae”)  Federal Farm Credit Bank (FFCB)  Federal Agricultural Mortgage Corporation ( FAMCA or “Farmer Mac”) There is no percentage limitation of the portfolio which can be invested in this category, although a five-year maturity limitation is applicable. Government agencies whose implied guarantee has been reduced or eliminated shall require an “A” rating or higher by a nationally recognized statistical rating organization. 8.04) Interest-bearing demand deposit accounts and Certificates of Deposit (CD) will be made only in Federal Deposit Insurance Corporation (FDIC) insured accounts. For deposits in excess of the insured maximum of $250,000, approved collateral shall be required in accordance with California Government Code, Section 53652. Investments in CD’s are limited to 15 percent of the District’s portfolio. 8.05) Commercial paper, which is short-term, unsecured promissory notes of corporate and public entities. Purchases of eligible commercial paper may not exceed 10 percent of the outstanding paper of an issuing corporation, and maximum investment maturity will be restricted to 270 days. Investment is further limited as described in California Government Code, Section 53601(h). Purchases of commercial paper may not exceed 10 percent of the District’s portfolio and no more than 10 percent of the outstanding commercial paper of any single issuer. 8.06) Medium-term notes defined as all corporate debt securities with a maximum remaining maturity of five years or less, and that meet the further requirements of California Government Code, Section 53601(k). Investments in medium-term notes are limited to 10 percent of the District’s portfolio. 8.07) Money market mutual funds that invest only in Treasury securities and repurchase agreements collateralized with Treasury securities, and that meet the further requirements of California Government Code, Section 53601(l). Investments in money market mutual funds are limited to 10 percent of the District's portfolio. 8.08) The San Diego County Treasurer’s Pooled Money Fund, which is a County managed investment pool, may be used by the Otay Water District to invest excess funds. There is no percentage limitation of the portfolio which can be invested in this category. 230 Investment Policy 8.09) Under the provisions of California Government Code 53601.6, the Otay Water District shall not invest any funds covered by this Investment Policy in inverse floaters, range notes, interest-only strips derived from mortgage pools, or any investment that may result in a zero interest accrual if held to maturity. Also, the borrowing of funds for investment purposes, known as leveraging, is prohibited. 9.0 INVESTMENT POOLS/MUTUAL FUNDS A thorough investigation of the pool/fund is required prior to investing, and on a continual basis. There shall be a questionnaire developed which will answer the following general questions:  A description of eligible investment securities, and a written statement of investment policy and objectives.  A description of interest calculations and how it is distributed, and how gains and losses are treated.  A description of how the securities are safeguarded (including the settlement processes), and how often the securities are priced and the program audited.  A description of who may invest in the program, how often, and what size deposits and withdrawals are allowed.  A schedule for receiving statements and portfolio listings.  Are reserves, retained earnings, etc., utilized by the pool/fund?  A fee schedule, and when and how is it assessed.  Is the pool/fund eligible for bond proceeds and/or will it accept such proceeds? 10.0 COLLATERALIZATION Collateralization will be required on certificates of deposit exceeding the $250,000 FDIC insured maximum. In order to anticipate market changes and provide a level of security for all funds, the collateralization level will be 102% of market value of principal and accrued interest. Collateral will always be held by an independent third party with whom the entity has a current custodial agreement. A clearly marked evidence of ownership (safekeeping receipt) must be supplied to the entity and retained. The right of collateral substitution is granted. 11.0 SAFEKEEPING AND CUSTODY All security transactions entered into by the Otay Water District shall be conducted on a delivery-versus- payment (DVP) basis. Securities will be held by a third party custodian designated by the District and evidenced by safekeeping receipts. 12.0 DIVERSIFICATION The Otay Water District will diversify its investments by security type and institution, with limitations on the total amounts invested in each security type as detailed in Paragraph 8.0, above, so as to reduce overall 231 Investment Policy portfolio risks while attaining benchmark average rate of return. With the exception of U.S. Treasury securities, government agencies, and authorized pools, no more than 50% of the District’s total investment portfolio will be invested with a single financial institution. 13.0 MAXIMUM MATURITIES To the extent possible, the Otay Water District will attempt to match its investments with anticipated cash flow requirements. Unless matched to a specific cash flow, the District will not directly invest in securities maturing more than five years from the date of purchase. However, for time deposits with banks or savings and loan associations, investment maturities will not exceed two years. Investments in commercial paper will be restricted to 270 days. 14.0 INTERNAL CONTROL The Chief Financial Officer shall establish an annual process of independent review by an external auditor. This review will provide internal control by assuring compliance with policies and procedures. 15.0 PERFORMANCE STANDARDS The investment portfolio shall be designed with the objective of obtaining a rate of return throughout budgetary and economic cycles, commensurate with the investment risk constraints and the cash flow needs. The Otay Water District’s investment strategy is passive. Given this strategy, the basis used by the CFO to determine whether market yields are being achieved shall be the State of California Local Agency Investment Fund (LAIF) as a comparable benchmark. 16.0 REPORTING The Chief Financial Officer shall provide the Board of Directors monthly investment reports which provide a clear picture of the status of the current investment portfolio. The management report should include comments on the fixed income markets and economic conditions, discussions regarding restrictions on percentage of investment by categories, possible changes in the portfolio structure going forward and thoughts on investment strategies. Schedules in the quarterly report should include the following:  A listing of individual securities held at the end of the reporting period by authorized investment category.  Average life and final maturity of all investments listed.  Coupon, discount or earnings rate.  Par value, amortized book value, and market value.  Percentage of the portfolio represented by each investment category. 232 Investment Policy 17.0 INVESTMENT POLICY ADOPTION The Otay Water District’s investment policy shall be adopted by resolution of the District’s Board of Directors. The policy shall be reviewed annually by the Board and any modifications made thereto must be approved by the Board. 18.0 GLOSSARY See Appendix A. 233 Appendix A: Glossary Active Investing: Active investors will purchase investments and continuously monitor their activity, often looking at the price movements of their stocks many times a day, in order to exploit profitable conditions. Typically, active investors are seeking short term profits. Agencies: Federal agency securities and/or Government-sponsored enterprises. Bankers’ Acceptance (BA): A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill, as well as the issuer. Benchmark: A comparative base for measuring the performance or risk tolerance of the investment portfolio. A benchmark should represent a close correlation to the level of risk and the average duration of the portfolio’s investments. Broker/Dealer: Any individual or firm in the business of buying and selling securities for itself and others. Broker/dealers must register with the SEC. When acting as a broker, a broker/dealer executes orders on behalf of his/her client. When acting as a dealer, a broker/dealer executes trades for his/her firm's own account. Securities bought for the firm's own account may be sold to clients or other firms, or become a part of the firm's holdings. Certificate of Deposit (CD): A short or medium term, interest bearing, FDIC insured debt instrument offered by banks and savings and loans. Money removed before maturity is subject to a penalty. CDs are a low risk, low return investment, and are also known as “time deposits”, because the account holder has agreed to keep the money in the account for a specified amount of time, anywhere from a few months to several years. Collateral: Securities, evidence of deposit or other property, which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies. Commercial Paper: An unsecured short-term promissory note, issued by corporations, with maturities ranging from 2 to 270 days. Comprehensive Annual Financial Report (CAFR): The official annual report for the Otay Water District. It includes detailed financial information prepared in conformity with generally accepted accounting principles (GAAP). It also includes supporting schedules necessary to demonstrate compliance with finance-related legal and contractual provisions, extensive introductory material, and a detailed statistical section. Coupon: (a) The annual rate of interest that a bond’s issuer promises to pay the bondholder on the bond’s face value. (b) A certificate attached to a bond evidencing interest due on a set date. 234 Appendix A: Glossary Dealer: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account. Debenture: A bond secured only by the general credit of the issuer. Delivery versus Payment: There are two methods of delivery of securities: delivery versus payment and delivery versus receipt. Delivery versus payment is delivery of securities with an exchange of money for the securities. Delivery versus receipt is delivery of securities with an exchange of a signed receipt for the securities. Derivatives: (1) Financial instruments whose return profile is linked to, or derived from, the movement of one or more underlying index or security, and may include a leveraging factor, or (2) financial contracts based upon notional amounts whose value is derived from an underlying index or security (interest rates, foreign exchange rates, equities or commodities). Discount: The difference between the cost price of a security and its maturity when quoted at lower than face value. A security selling below original offering price shortly after sale also is considered to be at a discount. Discount Securities: Non-interest bearing money market instruments that are issued at a discount and redeemed at maturity for full face value, e.g., U.S. Treasury Bills. Diversification: Dividing investment funds among a variety of securities offering independent returns. Federal Credit Agencies: Agencies of the Federal government set up to supply credit to various classes of institutions and individuals, e.g., S&L’s, small business firms, students, farmers, farm cooperatives, and exporters. Federal Deposit Insurance Corporation (FDIC): A federal agency that insures deposits in member banks and thrifts, currently up to $100,000 per deposit. Federal Farm Credit Bank (FFCB): The Federal Farm Credit Bank system supports agricultural loans and issues securities and bonds in financial markets backed by these loans. It has consolidated the financing programs of several related farm credit agencies and corporations. Federal Funds Rate: The rate of interest at which Fed funds are traded. This rate is currently pegged by the Federal Reserve through open-market operations. 235 Appendix A: Glossary Federal Agricultural Mortgage Corporation (FAMC or Farmer Mac): A stockholder owned, publicly-traded corporation that was established under the Agricultural Credit Act of 1987, which added a new Title VIII to the Farm Credit Act of 1971. Farmer Mac is a government sponsored enterprise, whose mission is to provide a secondary market for agricultural real estate mortgage loans, rural housing mortgage loans, and rural utility cooperative loans. The corporation is authorized to purchase and guarantee securities. Farmer Mac guarantees that all security holders will receive timely payments of principal and interest. Federal Home Loan Bank (FHLB): Government sponsored wholesale banks (currently 12 regional banks), which lend funds and provide correspondent banking services to member commercial banks, thrift institutions, credit unions and insurance companies. Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A stockholder owned, publicly traded company chartered by the United States federal government in 1970 to purchase mortgages and related securities, and then issue securities and bonds in financial markets backed by those mortgages in secondary markets. Freddie Mac, like its competitor Fannie Mae, is regulated by the United States Department of Housing and Urban Development (HUD). Federal National Mortgage Association (FNMA or Fannie Mae): FNMA, like GNMA was chartered under the Federal National Mortgage Association Act in 1938. FNMA is a federal corporation working under the auspices of the Department of Housing and Urban Development (HUD). It is the largest single provider of residential mortgage funds in the United States. Fannie Mae is a private stockholder-owned corporation. The corporation’s purchases include a variety of adjustable mortgages and second loans, in addition to fixed-rate mortgages. FNMA’s securities are also highly liquid and are widely accepted. FNMA assumes and guarantees that all security holders will receive timely payment of principal and interest. Federal Reserve System: The central bank of the United States created by Congress and consisting of a seven member Board of Governors in Washington, D.C., 12 regional banks and about 5,700 commercial banks that are members of the system. Financial Industry Reglatory Authority, Inc. (FINRA): An independent, not-for-profit organization authorized by Congress to protect America’s investors by making sure the securities industry operates fairly and honestly. It is dedicated to investor protection and market integrity through effective and efficient regulation of the securities industry. FINRA is the successor to the National Association of Securities Dealers, Inc. (NASD). Government National Mortgage Association (GNMA or Ginnie Mae): A government owned agency which buys mortgages from lending institutions, securitizes them, and then sells them to investors. Because the payments to investors are guaranteed by the full faith and credit of the U.S. Government, they return slightly less interest than other mortgage-backed securities. 236 Appendix A: Glossary Interest Only Strips: A mortgage backed instrument where the investor receives only the interest, no principal, from a pool of mortgages. Issues are highly interest rate sensitive, and cash flows vary between interest periods. Also, the maturity date may occur earlier than that stated if all loans within the pool are pre- paid. High prepayments on underlying mortgages can return less to the holder than the dollar amount invested. Inverse Floater: A bond or note that does not earn a fixed rate of interest. Rather, the interest rate is tied to a specific interest rate index identified in the bond/note structure. The interest rate earned by the bond/note will move in the opposite direction of the index. An inverse floater increases the market rate risk and modified duration of the investment. Leverage: Investing with borrowed money with the expectation that the interest earned on the investment will exceed the interest paid on the borrowed money. Liquidity: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. In the money market, a security is said to be liquid if the spread between bid and asked prices is narrow and reasonable size can be done at those quotes. Local Agency Investment Fund (LAIF): The aggregate of all funds from political subdivisions that are placed in the custody of the State Treasurer for investment and reinvestment. Market Value: The price at which a security is trading and could presumably be purchased or sold. Master Repurchase Agreement: A written contract covering all future transactions between the parties to repurchase/reverse repurchase agreements that establish each party’s rights in the transactions. A master agreement will often specify, among other things, the right of the buyer-lender to liquidate the underlying securities in the event of default by the seller borrower. Maturity: The date upon which the principal or stated value of an investment becomes due and payable. Money Market: The market in which short-term debt instruments (bills, commercial paper, bankers’ acceptances, etc.) are issued and traded. Mutual Funds: An open-ended fund operated by an investment company which raises money from shareholders and invests in a group of assets, in accordance with a stated set of objectives. Mutual funds raise money by selling shares of the fund to the public. Mutual funds then take the money they receive from the sale of their shares (along with any money made from previous investments) and use it to purchase various investment vehicles, such as stocks, bonds, and money market instruments. 237 Appendix A: Glossary Money Market Mutual Funds: An open-end mutual fund which invests only in money markets. These funds invest in short term (one day to one year) debt obligations such as Treasury bills, certificates of deposit, and commercial paper. National Association of Securities Dealers (NASD): A self-regulatory organization of the securities industry responsible for the operation and regulation of the NASDAQ stock market and over-the-counter markets. Its regulatory mandate includes authority over firms that distribute mutual fund shares as well as other securities. Passive Investing: An investment strategy involving limited ongoing buying and selling actions. Passive investors will purchase investments with the intention of long term appreciation and limited maintenance, and typically don’t actively attempt to profit from short term price fluctuations. Also known as a buy-and- hold strategy. Primary Dealer: A designation given by the Federal Reserve System to commercial banks or broker/dealers who meet specific criteria, including capital requirements and participation in Treasury auctions. These dealers submit daily reports of market activity and positions and monthly financial statements to the Federal Reserve Bank of New York and are subject to its informal oversight. Primary dealers include Securities and Exchange Commission registered securities broker/dealers, banks, and a few unregulated firms. Prudent Person Rule: An investment standard. In some states the law requires that a fiduciary, such as a trustee, may invest money only in a list of securities selected by the custody state—the so-called legal list. In other states the trustee may invest in a security if it is one which would be bought by a prudent person of discretion and intelligence who is seeking a reasonable income and preservation of capital. Public Securities Association (PSA): A trade organization of dealers, brokers, and bankers who underwrite and trade securities offerings. Qualified Public Depositories: A financial institution which does not claim exemption from the payment of any sales or compensating use or ad valorem taxes under the laws of this state, which has segregated for the benefit of the commission eligible collateral having a value of not less than its maximum liability and which has been approved by the Public Deposit Protection Commission to hold public deposits. Range Note: An investment whose coupon payment varies and is dependent on whether the current benchmark falls within a pre-determined range. Rate of Return: The yield obtainable on a security based on its purchase price or its current market price. This may be the amortized yield to maturity on a bond the current income return. Regional Dealer: A securities broker/dealer, registered with the Securities & Exchange Commission (SEC), who meets all of the licensing requirements for buying and selling securities. 238 Appendix A: Glossary Repurchase Agreement (RP OR REPO): A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. The security “buyer” in effect lends the “seller” money for the period of the agreement, and the terms of the agreement are structured to compensate him for this. Dealers use RP extensively to finance their positions. Exception: When the Fed is said to be doing RP, it is lending money that is increasing bank reserves. Safekeeping: A service to customers rendered by banks for a fee whereby securities and valuables of all types and descriptions are held in the bank’s vaults for protection. Secondary Market: A market made for the purchase and sale of outstanding securities issues following their initial distribution. Securities & Exchange Commission: Agency created by Congress to protect investors in securities transactions by administering securities legislation. Sec Rule 15C3-1: See Uniform Net Capital Rule. Structured Notes: Notes issued by Government Sponsored Enterprises (FHLB, FNMA, FAMCA, etc.), and Corporations, which have imbedded options (e.g., call features, step-up coupons, floating rate coupons, derivative-based returns) into their debt structure. Their market performance is impacted by the fluctuation of interest rates, the volatility of the imbedded options and shifts in the shape of the yield curve. Treasury Bills: A non-interest bearing discount security issued by the U.S. Treasury to finance the national debt. Most bills are issued to mature in three months, six months, or one year. Treasury Bonds: Long-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities of more than 10 years. Treasury Notes: Medium-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities from two to 10 years. Uniform Net Capital Rule: Securities and Exchange Commission requirement that member firms as well as nonmember broker-dealers in securities maintain a maximum ratio of indebtedness to liquid capital of 15 to 1; also called net capital rule and net capital ratio. Indebtedness covers all money owed to a firm, including margin loans and commitments to purchase securities, one reason new public issues are spread among members of underwriting syndicates. Liquid capital includes cash and assets easily converted into cash. Yield: The rate of annual income return on an investment, expressed as a percentage. (a) INCOME YIELD is obtained by dividing the current dollar income by the current market price for the security. (b) NET YIELD or YIELD TO MATURITY is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the date of maturity of the bond. 239 Debt Policy 1.0: POLICY It is the policy of the Otay Water District to finance the acquisition of high value assets that have an extended useful life through a combination of current revenues and debt financing. Regularly updated debt policies and procedures are an important tool to insure the use of the District’s resources to meet its commitments, to provide the highest quality of service to the District’s customers, and to maintain sound financial management practices. These guidelines are for general use and allow for exceptions as circumstances dictate. 2.0: SCOPE This policy is enacted in an effort to standardize the issuance and management of debt by the Otay Water District. The primary objective is to establish conditions for the use of debt, to minimize the District’s debt service requirements and cost of issuance, to retain the highest practical credit rating, maintain full and complete financial disclosure and reporting, and to maintain financial flexibility for the District. This policy applies to all debt issued by the District including general obligation bonds, revenue bonds, capital leases and special assessment debt. 3.0: LEGAL & REGULATORY REQUIREMENTS The Chief Financial Officer (CFO) and the District’s Legal Counsel will coordinate their activities to ensure that all securities are issued in full compliance with Federal and State law. 4.0: CAPITAL FACILITIES FUNDING Financial Planning The District maintains a six-year financial projection that identifies operating requirements and public facility and equipment requirements, and has developed a Rate Model for funding the District’s 6-Year Capital Improvement Program (CIP). The District’s CIP Budget places the capital requirements in order of priority and schedules them for funding and implementation. It identifies a full range of capital needs, provides for the ranking of the importance of such needs, and identifies all the funding sources that are available to cover the costs of the projects. In cases where the program identifies project funding through the use of debt financing, the budget should provide information needed to determine debt capacity. The Rate Model and the CIP Budget give the Board part of the data needed to make informed judgments concerning the possibility of issuing debt. Funding Criteria The Chief Financial Officer (CFO) will evaluate all capital project requests and develop a proposed funding plan. Priority may be given to those projects that can be funded with current resources (annual cash flow, fund balances or reserves). Those projects that cannot be funded with current resources may be deferred or 240 Debt Policy the CFO may recommend that they be funded with debt financing. However, debt financing will not be considered appropriate for any recurring purpose such as current operating and maintenance expenditures. The issuance of short-term cash-flow instruments is excluded from this limitation. The General Manager will recommend the funding plan to the Board. The General Manager may deem it necessary or desirable in certain circumstances to convene a Finance Committee meeting to evaluate funding options presented by the Chief Financial Officer. Funding Sources The District’s capital improvements can be classified in three categories: those related to an expansion of the system (“expansion”), those related to upgrading the existing system (“betterment”) and those related to repairing or replacing existing infrastructure (“replacement”). In general, capital improvements for betterment or replacement are financed primarily through user charges, availability charges, and betterment charges. Capital improvements for expansion are financed through capacity fees. Accordingly, these fees are reviewed at least annually or more frequently as required and set at levels sufficient to ensure that new development pays its fair share of the costs of constructing necessary infrastructure. Additionally, the District will seek State and Federal grants and other forms of intergovernmental aid wherever possible. Pay-As-You-Go Projects The District’s capacity fees are the major funding source in financing additions to the water system and the recycled water system. Over time, the fees collected and the cost to construct the capital projects should balance. However, collection of these fees is subject to significant fluctuation based on the rate of new development. Accordingly, the Chief Financial Officer, in developing the funding plan for the CIP, will determine that current revenues and adequate fund balances are available so project phasing can be accomplished. If this is not the case, the Chief Financial Officer may recommend that: 1. The project be deferred until funds are available, or 2. Based on the priority of the project, long-term debt is issued to finance the project. Debt Financed Projects If a project or projects are to be financed with long-term debt, the District should use the following criteria to evaluate the suitability of the financing for the particular project or projects: 1. The life of the project or asset to be financed is 10 years or longer and its useful life is expected to exceed the term of the financing. 2. Revenues available for debt service are deemed to be sufficient and reliable so that long-term financing can be marketed without jeopardizing the credit rating of the District. 3. Market conditions present favorable interest rates and demand for District financing. 241 Debt Policy 4. The project is mandated by State and/or Federal requirements and current resources are insufficient or unavailable. 5. The project is immediately required to meet or relieve capacity needs and current resources are insufficient or unavailable. 5.0: DEBT STRUCTURE General The District will normally issue debt with a maturity of not more than 30 years. The structure should approximate level debt service for the term where it is practical or desirable. There will be no debt structures that include increasing debt service levels in subsequent years, with the first and second year of a debt payoff schedule the exception and related to projected additional income to be generated by the project to be funded. There will be no "balloon" debt repayment schedules that consist of low annual payments and one large payment of the balance due at the end of the term. There will always be at least interest paid in the first fiscal year after debt issuance and principal starting no later than the first fiscal year after the date the facility or equipment is expected to be placed in service. Capitalized interest will not be for a period of more than necessary to provide adequate security for the financing. Limitations on the Issuance of Variable Rate Debt The District will normally issue debt with a fixed rate of interest. The District may issue variable rate for the purpose of managing its interest costs. At the same time, the District should protect itself from too much exposure to interest rate fluctuations. In determining that it is in the District’s best interest to issue certain debt at variable rates instead of fixed rates, at the time of issuing any variable rate debt, there should be at least a 10% estimated reduction in annual debt costs by issuing variable rate debt when compared to a similar issuance of fixed rate debt. If the estimated overall cost savings from issuing variable rate debt is not at least 10% at the time of issuance, relatively small fluctuations in rates could actually increase the District’s financing costs over the life of the bonds compared to a similar fixed rate financing. By using this 10% factor at the time of issuance, the District can be relatively assured that its variable rate financing will be cost- effective over the term of the bonds. The comparison will be based on the following criteria: 1. The interest rate used to estimate variable interest costs will be the higher of the 10 year average rate or the current weekly variable rate. 2. The variable rate debt costs will include an estimate for annual costs such as letter of credit fees, liquidity fees, remarketing fees, monthly draw fees and annual rating fees applicable to the letter of credit. 3. Any potential reserve fund earnings will reduce the fixed rate debt service or variable rate debt service as applicable. 242 Debt Policy Periodically, using the criteria described above, the Chief Financial Officer will compare the estimated annual debt service costs to maturity of any variable rate debt with estimated debt service if the debt was converted to fixed rates. If this analysis produces a break even in total payments over the life of the issue, the Chief Financial Officer will recommend converting such variable rate debt to fixed rate. Variable rate debt should not represent more than 25% of the District’s total debt portfolio. This level of exposure to interest rate fluctuations is considered to be manageable in an environment of increasing interest rates. At a higher ratio than this, the District might be faced with an unplanned water rate increase to meet its Rate Covenants. Rating agencies use this ratio in their analysis of the District’s overall credit rating. Further, Rate Covenants applicable to variable rate debt shall not compromise the issuance of additional debt planned by the District and variable rate debt should always contain a provision to allow conversion to a fixed rate at the District’s option. 6.0: CREDIT OBJECTIVES The Otay Water District seeks to maintain the highest possible credit ratings for all categories of long-term debt that can be achieved without compromising delivery of basic services and achievement of District policy objectives. Factors taken into account in determining the credit rating for a financing include: 1. Diversity of the District’s customer base. 2. Proven track record of completing capital projects on time and within budget. 3. Strong, professional management. 4. Adequate levels of staffing for services provided. 5. Reserves. 6. Ability to consistently meet or exceed Rate Covenants. The District recognizes that external economic, natural, or other events may from time to time affect the creditworthiness of its debt. Nevertheless, the District is committed to ensuring that actions within its control are prudent and well planned. 7.0: COMPETITIVE AND NEGOTIATED SALE CRITERIA Competitive Sale The District will use a competitive bidding process in the sale of debt unless the nature of the issue or specific circumstances warrants a negotiated sale. The CFO will determine the best bid in a competitive sale by calculating the true interest cost (TIC) of each bid. 243 Debt Policy Negotiated Sale Types of debt that would typically lend themselves to the negotiated sale format are variable rate debt and unrated debt. Circumstances that might warrant a negotiated sale may occur when the issue is of a limited size that would not attract wide-spread investor interest, during periods of high levels of issuance by other entities in the State, or during periods of market volatility or with relatively new financing techniques. In the event the District decides to use a negotiated sale, it will pay management fees only to those firms that place orders for bonds. If the size of the District’s proposed issue is not cost effective, the District may also consider issuing its debt by private placement or through any qualified Joint Power Authority (JPA) in the State of California whose principal business is issuing bonds. 8.0: REFUNDING DEBT Purpose Periodic reviews of all outstanding debt will be undertaken by the Chief Financial Officer to determine refunding (refinancing) opportunities. The purpose of the refinancing may be to: 1. Lower annual debt service by taking advantage of lower current interest rates. 2. Update or revise covenants on outstanding debt issue if a Rate Covenant appears to be too high, has precluded the District from implementing its financing plan, or has caused the District to increase rates to customers. 3. Restructure debt service associated with an issue to facilitate the issuance of additional debt, usually in order to smooth out peaks in total debt service which can occur frequently as one debt issue is layered on top of existing debt issues. 4. Alter bond characteristics such as call provisions or payment dates. 5. Pay for conversion costs such as funding a reserve fund or paying for credit enhancement when converting variable rate debt to fixed rate debt. Restrictions on Refunding Tax-exempt bonds typically have provisions that preclude early redemption of the bonds for a period of years after issuance. The number of times a tax-exempt bond can be refinanced prior to its Optional Redemption date (known as Advance Refunding) is limited by the IRS. For debt issued after 1986, issuers may only provide for Advance Refunding of obligations in advance of the Optional Redemption date one time. There is no limit by the IRS on the ability of issuers to redeem bonds early once the Optional Redemption date has been reached (known as Current Refunding). 244 Debt Policy Savings Criteria In cases where an Advance Refunding or Current Refunding is intended to provide debt service savings, the District may commence the refinancing process if a minimum five percent (5%) present value savings net of issuance costs and any cash contributions can be demonstrated. Since interest rates may fluctuate between the time when a refinancing is authorized and when the debt is issued, beginning the process with at least a 5% savings should provide the District with some level of protection that it can achieve a minimum of three percent (3%) net present value savings of the refunding bonds when and if the debt is issued. These minimum standards are intended to protect the District staff from spending time on refinancings that become marginally cost-effective after the entire issuance process is complete. The savings target may be waived, however, if sufficient justification for lowering the savings target can be provided by meeting one or more of the other refunding objectives described above. 9.0: SUBORDINATE LIEN DEBT The District will issue subordinate lien debt only if it is financially beneficial to the District or consistent with creditworthiness objectives. Subordinate lien debt is structured to be payable second in priority to the District’s other outstanding debt. Typically, subordinate lien debt might be issued if the District desired a more flexible Rate Covenant with respect to its new obligations and did not want to refinance all of its existing debt to obtain that less restrictive Rate Covenant. 10.0: FINANCING PARTICIPANTS The District’s purchasing guidelines provide the process for securing professional services related to individual debt issues. The solicitation and selection process include encouraging participation from qualified service providers, both local and national, and securing services at competitive prices. Financial Advisor: The use of a Financial Advisor is necessary for the sale of debt by a competitive bid process and is desirable when issuing debt through a negotiated sale. The Financial Advisor has a fiduciary duty to the District and will seek to structure the District’s debt in the manner that is saleable, yet meets the District’s objectives for the financing. The Financial Advisor will advise the District on alternative structures for its debt, the cost of different debt structures and potential pricing mechanisms that can be expected from underwriters (such as call features, term bonds and premium and discount bond pricing) and, at the District’s direction, will write the offering document (preliminary official statement). With respect to competitive sales, the Financial Advisor will arrange for distributing the preliminary official statement, accepting bids via an internet bidding platform, verifying the lowest bid and provide detailed instructions for the flow of funds at closing to the winning Underwriter, the Trustee and the District. In a negotiated sale, the Financial Advisor will provide independent confirmation on the Underwriter’s proposed pricing to ensure that interest rates and Underwriter’s compensation are appropriate for the credit quality of the issue and competitive in the overall public finance market in California. 245 Debt Policy Underwriter: The Underwriter markets the bonds for sale to investors. While the District’s preference is to select the Underwriter for the debt via sale of the debt at competitive bid, there are circumstances when a negotiated issue is in the best interests of the District. Negotiated sales are preferable if the security features are particularly complex or market conditions are volatile. The Chief Financial Officer will recommend whether the method of sale is competitive or negotiated based on the type of issue and other market conditions. In the case of negotiated sales, the Underwriter will be required to demonstrate sufficient capitalization and sufficient experience related to the specific type of debt issuance. The Underwriter will work in connection with the District’s Financial Advisor on structuring the issue and offering different pricing ideas. Bond Counsel: The District’s Bond Counsel provides the primary legal documents that detail the security for the bonds and the authority under which bonds are issued. The Bond Counsel also provides an opinion to bond holders that the bonds are tax-exempt under both State and Federal law. All closing documents in connection with an issue are also prepared by Bond Counsel. Disclosure Counsel: The District’s Disclosure Counsel provides legal advice to the District regarding the adequacy of the District’s disclosure of financial information or risks of investing in the District’s debt issue to the investing public. The Disclosure Counsel can prepare the official statement or review the official statement and gives the District an opinion that there is no information missing from the official statement of a material nature that would be necessary for an investor to make an informed decision about investing in the District’s bonds. Trustee: The Trustee is a financial institution selected by the District to administer the collection of revenues pledged to repay the bonds and to distribute those funds to bondholders. Letter of Credit Bank: The Letter of Credit Bank is a U.S. or foreign bank that has issued a letter of credit providing both credit enhancement (the Letter of Credit Bank will pay the debt in the event that the District defaults on the payment) and liquidity for a variable rate bond issue. These banks have their own short-term credit rating, which can be higher than the District’s short-term credit rating. Liquidity is needed because variable rate bondholders are allowed to “put” their bonds back to the District if they do not like the interest rate currently being offered. The District’s Remarketing Agent then finds a new buyer for those bonds, but in the event that no buyer is found, a draw is made under the letter of credit to purchase the bonds that have been “put.” As soon as the bonds are remarketed to another buyer, the letter of credit is repaid. The letter of credit fees are paid annually or quarterly. Letter of credits are typically issued for not more than 3 years and must be renewed during the life of the bonds. Credit enhancement is discussed further under the heading “CREDIT ENHANCEMENT.” Municipal Bond Insurer: The Municipal Bond Insurer can be one of several insurance companies that provide municipal bond insurance policies securing payment of the District’s debt. These policies provide that the Municipal Bond Insurer will pay the District’s debt in the event that the District defaults on its payments. Debt which is insured carries the Municipal Bond Insurer’s credit rating. The insurance premium for the bond insurance policy is paid one time at the issuance of the debt and is non-cancelable for the term 246 Debt Policy of the debt. Unlike a letter of credit, bond insurance policies do not provide liquidity and are most typically purchased for fixed rate debt. Remarketing Agent: The Remarketing Agent is an investment bank that, each week, determines the interest rate for the District’s variable rate obligations. The rate is set at the rate at which the obligations could be sold on the open market at 100% of their face value. The Remarketing Agent also finds new buyers for any of the obligations that are “put” back to the District. Rating Agencies: Currently, there are three widely recognized rating agencies that rate municipal debt in the United States: Standard & Poor’s, Moody’s Investors Service, and Fitch Investors Service. Rating agencies establish objective criteria under which each type of financing undertaken by the District is to be analyzed. Upon request, a rating agency will rate the underlying strength of the District’s financings, without regard to the purchase of any credit enhancement. The rating is released to the general public and thereafter, the rating agency will periodically update its analysis of a particular issue, and may raise or lower the rating if circumstances warrant. Investment-grade ratings range from “AAA” to “BBB-.” A rating below “BBB-” is not investment grade. Many mutual funds cannot buy bonds that do not carry an investment grade. Verification Agent: In a refunding, the District will deposit funds with an escrow agent (usually the trustee) in an amount sufficient, together with earnings thereon, to pay the debt service and redemption price of the debt being refunded through and including the call date. The Verification Agent verifies the mathematical accuracy of calculation of the amount to be deposited in escrow and the bond counsel relies on this verification in giving their opinion that the debt is defeased within the meaning of the indenture and that the lien of the debt on the revenues pledged to the debt being refunded is released. 11.0: CONFLICT OF INTEREST AND STANDARDS OF CONDUCT Members of the District, the Board of Directors and its consultants, service providers and underwriters shall adhere to standards of conduct and conflict of interest rules as stipulated by the California Political Reform Act or the Municipal Securities Rulemaking Board (MSRB), as applicable. All debt financing participants shall maintain the highest standards of professional conduct at all times, in accordance with MSRB Rules, including Rule G-37. There shall be no conflict of interest with the District with any debt financing participant. 12.0: CONTINUING DISCLOSURE The District acknowledges the responsibilities of the underwriting community and pledges to make all reasonable efforts to assist underwriters in their efforts to comply with SEC Rule 15c2-12 and MSRB Rule G- 36. The District will file its official statements with the MSRB and the nationally recognized municipal securities information repositories. The District will also post copies of its comprehensive financial reports on the MSRB’s Electronic Municipal Market Access (EMMA) website, and will disseminate other information that it deems pertinent to the market in a timely manner (For bonds issued after 2012, 10 days). While initial bond disclosure requirements pertain to underwriters, the District will provide financial information and 247 Debt Policy notices of material events on an ongoing basis throughout the life of the issue. Material events are defined as those events which are considered to likely reflect on the credit supporting the securities. (a) The events considered material according to the SEC are: 1. Principal and interest payment delinquencies; 2. Unscheduled draws on debt service reserves reflecting financial difficulties; 3. Unscheduled draws on credit enhancements reflecting financial difficulties; 4. Substitution of credit or liquidity providers, or their failure to perform; 5. Adverse tax opinions or the issuance by the Internal Revenue Service of proposed or final determinations of taxability or of a Notice of Proposed Issue (IRS Form 5701-TEB); 6. Tender offers; 7. Defeasances; 8. Ratings changes; and 9. Bankruptcy, insolvency, receivership or similar proceedings. Note: for the purposes of the event identified in subparagraph (9) above, the event is considered to occur when any of the following occur: the appointment of a receiver, fiscal agent or similar officer for an obligated person in a proceeding under the U.S. Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the obligated person, or if such jurisdiction has been assumed by leaving the existing governmental body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangement or liquidation by a court or governmental authority having supervision or jurisdiction over substantially all of the assets or business of the obligated person. (b) Pursuant to the provisions of this section (b), the District shall give, or cause to be given, notice of the occurrence of any of the following events with respect to the Bonds, if material: 1. Unless described in paragraph (a) above, notices or determinations by the Internal Revenue Service with respect to the tax status of the Bonds or other material events affecting the tax status of the Bonds; 2. The consummation of a merger, consolidation or acquisition involving an obligated person or the sale of all or substantially all of the assets of the obligated person, other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms; 3. Appointment of a successor or additional trustee or the change of the name of a trustee; 4. Nonpayment related defaults; 5. Modifications to the rights of Owners of the Bonds; 6. Notices of redemption; and 248 Debt Policy 7. Release, substitution or sale of property securing repayment of the Bonds. Whenever the District obtains knowledge of the occurrence of a Listed Event under (b) above, the District shall as soon as possible determine if such event would be material under applicable federal securities laws. 13:0 INVESTMENT & ARBITRAGE COMPLIANCE Tax-exempt bonds are required to meet certain provisions of the federal tax code in order to maintain their tax-exempt status. In order to prevent municipal issuers from borrowing money at tax-exempt rates solely for the purpose of investing the proceeds in higher yielding investments and making a profit (“arbitrage”), the federal tax code contains a provision that requires issuers to compare the interest earned on any bond funds held (such as a reserve fund) with interest that would theoretically be earned if the funds were invested at the yield of the bonds, and to “rebate” to the federal government any interest earned in excess of the theoretical earnings limit. The Chief Financial Officer shall invest the bond proceeds subject to the District’s Investment Policy in a timely manner, to ensure the availability of funds to meet operational requirements. In doing so, the CFO will maintain a system of record keeping and reporting to meet the arbitrage rebate compliance requirements of the federal tax code. 14.0: TYPES OF DEBT FINANCING General Obligation Bonds General obligation bonds are secured by a pledge of the ad-valorem taxing power of the issuer and are also known as a full faith and credit obligations. Bonds of this nature must serve a public purpose to be considered lawful taxation of the property owners within the District and require a two third’s majority vote in a general election. The benefit of the improvements or assets constructed and acquired as a result of this type of bond must be generally available to all property owners. The District can issue general obligation bonds up to but not in excess of 15% of the assessed valuation under Article XVI, Section 18 of the State constitution. An annual amount of the levy necessary to meet debt service requirements is calculated and placed on the tax roll through the County of San Diego. The District also has a policy that the ad-valorem tax to be used to pay debt service on general obligation bonds will not exceed $.10 per $100 of assessed value. Voters within Improvement District No. 27 of the District authorized $100 million general obligation bonds in 1989. The District issued $11,500,000 general obligation bonds in 1992 and refinanced the bonds in 1998 and again in 2009. The District also has approximately $29 million in general obligation bonds authorized between 1960 and 1978 for various improvement districts throughout the District, but unissued. General obligation bonds can only be issued under these existing authorizations to the extent necessary to fund the improvements specified by each ballot measure. 249 Debt Policy General obligation bonds generally are regarded as the broadest and soundest security among tax-secured debt instruments. An unlimited-tax pledge would enable a trustee to invoke mandamus to force the District to raise the tax rate as much as necessary to pay off the bonds. General obligation bonds have other credit strengths as well: the property tax tends to be a steady and predictable revenue source, and when a vote is required to issue them, bondholders have some indication of taxpayers’ willingness to pay. General obligation bonds carry the highest credit rating that a public agency can achieve and therefore, the lowest interest cost. General obligation bonds typically are issued to finance capital facilities and not for ongoing operational or maintenance costs. The District will use an objective analytical approach to determine whether it can afford to assume new general obligation debt for the improvement districts, or in the case of projects not approved by the original ID 27 vote, prior to any submission of a general obligation bond ballot measure to voters. This process will compare generally accepted standards of affordability to the current values for the District. These standards will include debt per capita, debt as a percent of taxable value, debt service payments as a percent of current revenues and current expenditures, and the level of overlapping net debt of all local taxing jurisdictions. The process will also examine the direct costs and benefits of the proposed expenditures. The decision on whether or not to assume new debt will be based on these costs and benefits, the current conditions of the municipal bond market, and the District’s ability to "afford" new debt as determined by the aforementioned standards. Revenue Bonds Revenue bonds are limited-liability obligations that pledge net revenues of the District to debt service. The net revenue pledge is after payment of all operating costs. Since revenue bonds are not generally secured by the full faith and credit of the District, the financial markets require coverage ratios of the pledged revenue stream and a covenant to levy rates and charges sufficient to produce net income at some level in excess of debt service (a Rate Covenant). Also there may be a test required to demonstrate that future revenues will be sufficient to maintain debt service coverage levels after any proposed additional bonds are issued. The District will strive to meet industry and financial market standards with such ratios without impacting the current rating. Annual adjustments to the District’s rate structure may be necessary to maintain these coverage ratios. The underlying credit of revenue bonds is judged on the ability of the District’s existing rates to provide sufficient net income to pay debt service and the perceived willingness of the District to raise rates and charges in accordance with its Rate Covenant. Actual past performance also plays a role in evaluating the credit quality of revenue bonds, as well as the diversity of the customer base. Revenue bonds generally carry a credit rating one or two investment grades below a general obligation bond rating. The District may use a debt structure called “Certificates of Participation” to finance capital facilities. However, if the certificates contain a pledge of net revenues and a Rate Covenant, they are treated as essentially the same as a revenue bond. 250 Debt Policy Lease/Purchase Agreements Over the lifetime of a lease, the total cost to the District will generally be higher than purchasing the asset outright. As a result, the use of lease/purchase agreements in the acquisition of vehicles, equipment and other capital assets will generally be avoided, particularly if smaller quantities of the capital asset(s) can be purchased on a "pay-as-you-go" basis. The District may utilize lease-purchase agreements to acquire needed equipment and facilities. Criteria for such agreements should be that the asset life is three years or more, the minimum value of the agreement is $50,000 and interest costs must not exceed the interest rate earned by the District’s portfolio for the average of the past 6 months. Lease payments of this type are considered operating expenses and would reduce net operating income available to pay any District revenue bonds. There are no coverage requirements or rate covenants associated with lease/purchase agreements. State Water Loans The State Water Resources Control Board makes certain funds available to water districts throughout the State. These loans typically carry a below-market rate of interest and are short term in nature. While State loans should be incorporated into the District’s debt portfolio for the financing of capital improvements, the payment of the loan should not compromise the District’s ability to issue other planned debt or cause the District to violate its rate covenants or make it necessary for the District to increase rates to maintain existing rate covenants. Land Based Financing The District may consider developer or property owner initiated applications requesting the formation of community facilities or assessment districts and the issuance of bonds to finance eligible District facilities necessary to serve newly developing commercial, industrial and/or residential projects. Facilities will be financed in accordance with the provisions of the Municipal Improvement Act of 1913 and the Improvement Bond Act of 1915, or the Mello-Roos Community Facilities Act of 1982. Typically, the bonds issued would be used to prepay, in a lump-sum, the District’s capacity fees with respect to a large tract of land under development, or to finance in-tract infrastructure that will eventually be dedicated to the District. The bonds are secured by a special tax or assessment to be levied on property within the boundaries established for the community facilities district (sometimes known as a “Mello-Roos” district) or the assessment district. If the District becomes the sponsoring public agency for such financing district and the issuance of debt, the District will be required to enter into a Funding, Construction and Acquisition agreement for any of the facilities to be dedicated to the District upon completion. This agreement governs the type of facilities to be constructed with bond proceeds and how the facilities will be accepted by the District. 251 Debt Policy In some cases, the District may not be asked to be the sponsoring agency for the formation of a financing district, rather, the developer or property owner may approach a school district or a city to be the sponsoring agency. Nonetheless, the property owner may want to include lump-sum payment of District fees in the financing or construction of certain facilities to be dedicated to the District upon completion. In this case, if the District desired to participate, the District would enter into a Joint Financing Agreement with the sponsoring agency, again governing the type of facilities to be constructed with bond proceeds and how the facilities will be accepted by the District. On a case-by-case basis, the Board shall make the determination as to whether a proposed district will proceed under the provisions of the Assessment Acts or the Mello-Roos Community Facilities Act. The Board may confer with other consultants and the applicant to learn of any unique district requirements, such as long-term development phasing, prior to making any final determination. All District and District consultant costs incurred in the evaluation of new development, district applications and the establishment of districts will be paid by the applicant(s) by advance deposits in those instances where a party or parties other than the District have initiated a proposed district. Expenses not legally reimbursable by the financing district will be borne by the applicant. The District may incur expenses for analyzing proposed assessment or community facilities districts where the District is the principal proponent of the formation or financing of the district. Prior to the issuance of any land secured financing and in accordance with State law, the Board will adopt policies and procedures with criteria to be met before any special tax bonds or assessment district bonds may be issued. These criteria include the qualifications of the appraiser, the minimum value to lien ratio to be achieved prior to issuing the land secured debt and the maximum tax to be levied on different categories of property. 15.0: RATING AGENCY APPLICATIONS The District may seek one or more ratings on all new issues that are being sold in the public market. These rating agencies include, but are not limited to, Fitch Investors Service, Moody’s Investors Service, and Standard & Poor’s. When applying for a rating on an issue over $1 million or more, the District shall make a formal presentation of the finances and positive developments within the District to the rating agencies. The District will report all financial information to the rating agencies upon request. This information shall include, but shall not be limited to, the District’s Comprehensive Annual Financial Report (CAFR), and the Adopted Operating and Capital Budget. 16.0: USE OF CREDIT ENHANCEMENT Credit enhancement is a generic term that means any third-party guarantee of debt service. Credit enhancement providers include municipal bond insurance companies or financial institutions. The purchase of credit enhancement allows the District’s bond issue to carry the same credit rating as the credit provider. The District will seek to use credit enhancement when such credit enhancement proves cost- 252 Debt Policy effective. Selection of credit enhancement providers will be subject to a competitive bid process using the District’s purchasing guidelines, if applicable. Fixed Rate Bonds Credit enhancement for fixed rate bonds is obtained by the purchase of bond insurance. If a commitment for bond insurance is obtained for a particular issue, the District will estimate the annual debt service for the issue based on current interest rates applicable to the credit rating of the bond insurer. If the estimated debt service on this basis is less than or equal to estimated debt service for the issue based on interest rates for bonds with the District’s underlying or stand-alone credit rating, the District will purchase the bond insurance. Any intention of the District to prepay the debt ahead of its scheduled maturity will be taken into account in the analysis. Credit enhancement may be used to improve or establish a credit rating on a District debt obligation even if such credit enhancement is not cost effective if, in the opinion of the Chief Financial Officer, the use of such credit enhancement meets the District’s debt financing goals and objectives, such as, funding of a reserve fund for the bonds. Variable Rate Bonds Credit enhancement for variable rate bonds is comprised of two components: credit support and liquidity. The interest on variable rate bonds is based on a short-term investment rate (usually 7 days). Any investor can tender their bonds back to the District to be repurchased on short notice (usually 7 days). Because of the short-term nature of the investment, the securities that the District is “competing” with for investors are AA-rated mutual funds. Therefore, variable debt needs to have credit enhancement to achieve a comparable AA rating, as well as liquidity support to provide the District with a mechanism to purchase any bonds that are tendered before they can be remarketed to new investors. A limited number of financial institutions offer letters of credit that combine both credit support and liquidity for one fee. An alternative is to purchase bond insurance to provide credit support and enter into a separate purchase agreement with a financial institution to provide liquidity. The difference in cost between the two structures will be analyzed before either alternative is selected for variable rate debt. 17.0: GLOSSARY Ad Valorem Tax: A tax calculated “according to the value” of property. Such a tax is based on the assessed valuation of tangible personal property. In most jurisdictions, the tax is a lien on the property enforceable by seizure and sale of the property. General restrictions, such as overall restrictions on rates, or the percent of charge allowed, sometimes apply. As a result, ad valorem taxes often function as the balancing element in local budgets. Advance Refunding: A procedure whereby outstanding bonds are refinanced by the proceeds of a new bond issue prior to the date on which outstanding bonds become due or are callable. Typically an advance refunding is performed to take advantage of interest rates that are significantly lower than those associated 253 Debt Policy with the original bond issue. At times, however, an advance refunding is performed to remove restrictive language or debt service reserve requirements required by the original issue. Amortization: The planned reduction of a debt obligation according to a stated maturity or redemption schedule. Arbitrage: The gain that may be obtained by borrowing funds at a lower (often tax-exempt) rate and investing the proceeds at higher (often taxable) rates. The ability to earn arbitrage by issuing tax-exempt securities has been severely curtailed by the Tax Reform Act of 1986, as amended. Assessed Valuation: The appraised worth of property as set by a taxing authority through assessments for purposes of ad valorem taxation. Basis Point: One one-hundredth of one percent. Bond: A security that represents an obligation to pay a specified amount of money on a specific date in the future, typically with periodic interest payments. Bond Counsel: An attorney (or firm of attorneys) retained by the issuer to give a legal opinion concerning the validity of the securities. The bond counsel’s opinion usually addresses the subject of tax exemption. Bond counsel may prepare, or review and advise the issuer regarding authorizing resolutions or ordinances, trust indentures, official statements, validation proceedings and litigation. Bond Insurance: A type of credit enhancement whereby a monocline insurance company indemnifies an investor against a default by the issuer. In the event of a failure by the issuer to pay principal and interest in- full and on-time, investors may call upon the insurance company to do so. Once assigned, the municipal bond insurance policy generally is irrevocable. The insurance company receives an up-front fee, or premium, when the policy is issued. Call Option: A contract through which the owner is given the right but is not obligated to purchase the underlying security or commodity at a fixed price within a limited time frame. Cap: A ceiling on the interest rate that would be paid. Capital Lease: The acquisition of a capital asset over time rather than merely paying rent for temporary use. A lease-purchase agreement, in which provision is made for transfer of ownership of the property for a nominal price at the scheduled termination of the lease, is referred to as a capital lease. Certificate of Participation: A financial instrument representing a proportionate interest in payments such as lease payments by one party (such as the District acting as a lessee) to another party (often a trustee). 254 Debt Policy CIP: Capital Improvement Program. Competitive Sale: The sale of securities in which the securities are awarded to the bidder who offers to purchase the issue at the best price or lowest cost. Continuing Disclosure: The requirement by the Securities and Exchange Commission for most issuers of municipal debt to provide current financial information to the informational repositories for access by the general marketplace. Debt Service: The amount necessary to pay principal and interest requirements on outstanding bonds for a given year or series of years. Defeasance: Providing for payment of principal of premium, if any, and interest on debt through the first call date or scheduled principal maturity in accordance with the terms and requirements of the instrument pursuant to which the debt was issued. A legal defeasance usually involves establishing an irrevocable escrow funded with only cash and U.S. Government obligations. Derivative: A financial product that is based upon another product. Generally, derivatives are risk mitigation tools. Discount: The difference between a bond’s par value and the price for which it is sold when the latter is less than par. Financial Advisor: A consultant who advises an issuer on matters pertinent to a debt issue, such as structure, sizing, timing, marketing, pricing, terms and bond ratings. General Obligation Bonds: Debt that is secured by a pledge of the ad valorem taxing power of the issuer. Also known as a full faith and credit obligation. Municipal Securities Rulemaking Board (MSRB): The MSRB, comprised of representatives from investment banking firms, dealer bank representatives, and public representatives, is entrusted with the responsibility of writing rules of conduct for the municipal securities market. Negotiated Sale: A sale of securities in which the terms of sale are determined through negotiation between the issuer and the purchaser, typically an underwriter, without competitive bidding. Official Statement: A document published by the issuer that discloses material information on a new issue of municipal securities including the purposes of the issue, how the securities will be repaid, and the financial, economic and social characteristics of the issuing government. Investors may use this information to evaluate the credit quality of the securities. 255 Debt Policy Option: A derivative contract. There are two primary types of options (see Put Option and Call Option). An option is considered a wasting asset because it has a stipulated life to expiration and may expire worthless. Hence, the premium could be wasted. Optional Redemption: The redemption of an obligation prior to its stated maturity, which can only occur on dates specified in the bond indenture. Overlapping Debt: The legal boundaries of local governments often overlap. In some cases, one unit of government is located entirely within the boundaries of another. Overlapping debt represents the proportionate share of debt that must be borne by one unit of government because another government with overlapping or underlying taxing authority issued its own bonds. Par Value: The face value or principal amount of a security. Pay-as-you-go: To pay for capital improvements from current resources and fund balances rather than from debt proceeds. Put Option: A contract that grants to the purchaser the right but not the obligation to exercise. Rate Covenant: A covenant between the District and bondholders, under which the District agrees to maintain a certain level of net income compared to its debt payments, and covenants to increase rates if net income is not sufficient to meet such level. Refunding: A procedure whereby an issuer refinances an outstanding bond issue by issuing new bonds. Revenue Bonds: A bond which is payable from a specific source of revenue and to which the full faith and credit of an issuer with taxing power is not pledged. Revenue bonds are payable from identified sources of revenue, and do not permit the bondholders to compel a jurisdiction to pay debt service from any other source. Pledged revenues often are derived from the operation of an enterprise. Generally, no voter approval is required prior to issuance. Special Assessments: A charge imposed against property or parcel of land that receives a special benefit by virtue of some public improvement that is not, or cannot be enjoyed by the public at large. Special assessment debt issues are those that finance such improvements and are repaid by the assessments charged to the benefiting property owners. Swap: A customized financial transaction between two or more counterparties who agree to make periodic payments to one another. Swaps cover interest rate, equity, commodity and currency products. They can be simple floating for fixed exchanges or complex hybrid products with multiple option features. 256 Debt Policy True Interest Cost (TIC): A method of calculating the overall cost of a financing that takes into account the time value of money. The TIC is the rate of interest that will discount all future payments so that the sum of their present value equals the issue proceeds. Underwriter: The term used broadly in the municipal market, to refer to the firm that purchases a securities offering from a governmental issuer. Yield Curve: Refers to the graphical or tabular representation of interest rates across different maturities. The presentation often starts with the shortest-term rates and extends towards longer maturities. It reflects the market’s views about implied inflation/deflation, liquidity, economic and financial activity, and other market forces. 257 258 Glossary The Fiscal Budget contains terminology that is unique to public finance and budgeting. The following budget glossary provides assistance in understanding these terms. ACCRUAL BASIS OF ACCOUNTING: The basis of accounting under which transactions are recognized when they occur, regardless of the timing of cash receipts and disbursements. ACRE-FOOT: The volume of water that will cover one acre to a depth of one foot. One acre-foot equals 435.6 units or 325,850 gallons. ADDITIONAL SYSTEMS FEES: Effective May 1, 1986, each customer receiving water service in the Improvement District 9 water service zone pays an additional monthly meter system charge of $2.00 for each meter in service. ANNEXATION FEES: Whenever water service is requested for land outside the boundaries of the District the land must first be annexed into the District. The annexation fee for water service was set at $1,477 per EDU on July 1, 2009. Whenever sewer service is requested for land outside the boundaries of an improvement district (ID) the land must first be annexed into the ID. The fee for sewer annexation was set at $3,819 on December 16, 1998. These base rates are adjusted quarterly according to a cost of living index. The rates as of July 1, 2014 are $1,622 and $5,986 for water and sewer, respectively. APPROPRIATION: The annual budget adopted by the District’s Board appropriates funds for monitoring and control purposes, and serves as a financial plan. ASSETS: Resources owned or held by the District that have monetary value. AVAILABILITY FEES: The District levies charges each year in developed areas to be used for general purposes for construction of facilities. This fee is levied in undeveloped areas to provide a source of funding for planning, mapping, and preliminary design of facilities to meet future development. Current legislation provides that any availability charge in excess of $10.00 per acre shall be restricted only for the purpose of constructing facilities in the improvement district in which it was assessed. BALANCED BUDGET: A financial plan, for a specified period of time that matches all planned revenues and expenditures with various services. This plan has sufficient sources of funds to support the planned expenditures. The District uses a fiscal year beginning July 1 and ending June 30 for budgetary and financial reporting purposes. BETTERMENT FEES: In addition to other applicable water rates and charges, certain water customers pay a fee based on water service zone or improvement district. These are restricted for the use in the area where they are collected and may be used for the construction and maintenance of facilities. 259 Glossary BETTERMENT FEES FOR MAINTENANCE: The Operating Budget earns betterment fees for maintenance work performed on infrastructure within special betterment zones. Betterment fees are collected for the construction and maintenance of these specific assets. BOND: A written promise to pay a sum of money on a specific date at a specified interest rate. The interest payments and the repayment of the principal are authorized in a District bond resolution. The most common types of bonds are general obligation (GO) bonds and Certificates of Participation (COPs). These are frequently used for construction of large capital projects such as buildings, reservoirs, pipelines, and pump stations. BUDGET BASIS: The budget and accounting basis for the District is recognized on an accrual basis. Accrual basis means that revenues are recognized when earned and expenses are recognized when incurred. CAPACITY FEE: A connection fee is charged when a new water meter is placed into service. This fee is a contribution of capital to either reimburse existing customers for the available capacity in the existing system, or to help finance planned future growth-related capacity improvements. CAPACITY FEE REVENUES: These fees are earned by the Operating Budget as the Engineering Department supports expansion functions. CAPACITY RESERVATION CHARGE: An MWD charge passed on by CWA to individual agencies. This fee is paid based on the District’s peak water demand. CAPITAL BUDGET: The portion of the annual budget that appropriates funds for the purchase of capital equipment items and capital improvements. These expenditures are separated from regular operating items, such as salaries, utilities, and office supplies. The Capital Budget includes funds for capital equipment purchases over $10,000, such as vehicles, furniture, machinery, computer systems, and special tools. The capital budget also includes funds for infrastructure related items over $20,000 (as explained below) which are distinguished from operating items according to their value and projected useful life. CAPITAL EQUIPMENT: Fixed assets such as vehicles, equipment, furniture, technical instruments, etc. which have a life expectancy of more than two years and a value over $10,000. This category may include items over $20,000 that are infrastructure related items (this cost may not extend useful life of the water or sewer infrastructure, but without the purchase of the item, the whole asset is rendered useless, as described in the District’s Capitalization Policy). CAPITAL IMPROVEMENT PROGRAM: A long-range plan of the District for the construction, rehabilitation and modernization of the District-owned and operated infrastructure. 260 Glossary CLASS OF SERVICE: All customers are classified based on the type of service used. For example, the water rate per unit is determined by a classification such as residential versus business. CWA: The County Water Authority was organized in 1944 under the State County Water Authority Act for the primary purpose of importing Colorado River water to augment the local water supplies of the Authority's member agencies. The Authority purchases water from MWD which imports water from the Colorado River and the State Water Project. DEANNEXATION FEES: Each request for detachment of land from an improvement district is reviewed on a case-by-case basis. The fees are determined based on the present value of future debt service requirements. DEBT COVERAGE RATIO: The ratio of net revenue to annual interest and principal payments on debt. DEBT SERVICE: The District's obligation to pay the principal and interest of bonds and other debt instruments according to a predetermined payment schedule. DEPRECIATION: An expense recorded to allocate a tangible asset’s cost over its useful life. DESALINATION: The removal of dissolved minerals (including salts) from seawater or brackish water. Engineered water desalination processes, which produce potable water from seawater or brackish water, have become important because many regions throughout the world suffer from water shortages. ENERGY FEES: Water customers are charged an energy pumping charge based on the quantity of water used and the elevation to which the water has been lifted to provide service. The energy pumping charge rate is $.045 (decreases on January 1, 2013 to $.042) per 100 cubic feet of water for each 100 feet of lift above the base elevation of 450 feet. All water customers are in one of 29 zones based on elevation. ENTERPRISE FUND: Fund that provides goods or services to the public for a fee that makes the entity self-supporting. ENTERPRISE RESOURCE PLANNING: Systems with a shared database that supports multiple functions used by different business units. EXPENDITURES/EXPENSES: These terms refer to the outflow of funds paid or to be paid for an asset, goods or services obtained regardless of when actually paid for. (Note: An encumbrance is not an expenditure). An encumbrance reserves funds to be expended in a future period. 261 Glossary FIRE SERVICE: Water service is provided by the District solely for use in fire hydrants or fire sprinkler systems from lines or laterals connected to the District’s water mains. The monthly system charge is $34.57 per month for each connection for fire protection service. FISCAL YEAR: Twelve-month term designating the beginning and ending period for recording financial transactions. The District has specified July 1 to June 30 as its fiscal year. FUND BALANCE: The current funds on hand resulting from the net historical collection and use of monies. The difference between assets and liabilities reported in the District’s Operating Fund plus residual equities or balances and changes therein, from the result of operations. GENERAL FUND: The District’s general fund is an enterprise fund – one for each of the District’s three business lines Potable, Recycled and Sewer services. Each is an accounting entity with a self- balancing set of accounts established to record the financial position and results that pertain to a specific activity. The activities of enterprise funds closely resemble those of ongoing businesses in which the purpose is to conserve and add to basic resources while meeting operating expenses from current revenues. Enterprise funds account for operations that provide services on a continuous basis and are substantially financed by revenues derived from user charges. GRANTS: Contributions or gifts of cash or other assets from another governmental agency to be used or expended for a specified purpose, activity, or facility. Capital grants are restricted by the grantor for the acquisition and/or construction of fixed assets. Operating grants are restricted by the grantor for operating purposes or may be used for either capital or operating purposes at the discretion of the grantee. INFRASTRUCTURE ACCESS CHARGE (IAC): A pass-through charge from CWA to each member agency. The charge is to finance a portion of CWA’s fixed annual costs including the construction, operation and maintenance of aqueducts and emergency storage projects. The fee was adopted in January of 1999. INTEREST INCOME: Earnings from the investment portfolio. Per District Policy Number 25, interest income will be allocated to improvement districts each month based upon each fund’s prior month- ending balance. LATE CHARGES/PENALTIES: Charges and penalties are imposed on customer accounts for late payments, returned payments, and other infringement of the District’s Code of Ordinances. METER AND LATERAL FEES: Charge includes the material costs for the meter, meter box, and the labor cost for installation to connect a new service to the distribution system. 262 Glossary METROPOLITAN WATER DISTRICT (MWD) STANDBY CHARGES: Revenue generated from property taxes by MWD to cover the Readiness-to-Serve (RTS) Charge. This charge pays for the debt service for construction projects necessary to meet reliability and quality needs. The RTS Charge was adopted in 1996. NET ASSETS: The difference between total assets and total liabilities. Increases or decreases in net assets may serve as a useful indicator of whether the financial position of the District is strengthening or weakening. 1% PROPERTY TAX: In 1978, Proposition 13 limited general levy property tax rates for all taxing authorities to a total rate of 1% of full cash value. Subsequent legislation, AB 8, established that the receipts from the 1% levy were to be distributed to taxing agencies according to approximately the same proportions received prior to Proposition 13. Funds received are to be used for facilities construction or debt service on bonds sold to build facilities. OPERATING BUDGET: The portion of the budget that pertains to daily operations that provide basic governmental services. The operating budget contains appropriations for such expenditures as personnel, supplies, utilities, materials, travel and fuel, and does not include purchases of major capital plant or equipment which are budgeted for separately in the Capital Budget. OTHER INCOME: Revenues that are not directly related to the business of providing water and sewer services. For example, contract billing service for the City of Chula Vista and the City of San Diego to bill their sewer customers based on water consumption. PROPERTY RENTAL INCOME: Rent or lease agreements for the use of District property. QUALSERVE: A voluntary quality improvement program designed exclusively for water and wastewater utilities. RECYCLED WATER RATES: Non-potable water service provided from water produced by the District’s reclamation plant and other non-potable sources. Recycled water is not used for domestic purposes and all uses must comply with federal, state and local laws and regulations regarding the use of recycled water. RESERVE FUND: The District maintains Reserve Funds per the District’s policy for both designated and restricted balances. Designated Reserve Funds are “general use” funds designated by the Board. Restricted reserves are those that are legally set aside for a particular purpose and cannot be used for any other purpose. RESIDENTIAL CONSERVATION: The water rates for residential customers use an accelerated block structure; as more units are consumed, a higher unit rate is charged. The District has established a water conservation program to promote water conservation and planning. 263 Glossary REVENUE: Monies that the District receives as income. It includes such items as water sales and sewer fees. Estimated revenues are those expected to be collected during the fiscal year. READINESS-TO-SERVE CHARGE (RTS): Adopted by MWD in Fiscal 1996. The charge serves as a foundation of fixed revenue for MWD. It covers the new debt service for construction projects necessary to meet reliability and quality needs of current water-users as opposed to new customers. SALE OF FIXED ASSETS: District equipment, which has been determined by the Board to be of no use, obsolete, and/or beyond the useful life and therefore, may be sold. SET-UP FEES FOR ACCOUNTS: A charge of $10 is added for each account transferred to another customer. SYSTEM FEES: Each water service customer pays a monthly system charge for water system replacement, maintenance and operation expenses. The charge is based on the size of the meter and class of service. TAXES: California Water Code Section 72091 authorizes the District, as a municipal water district, to levy ad valorem property taxes which are equal to the amount required to make annual payments for principal and interest on general obligation bonds approved by the voters prior to July 1, 1978. TEMPORARY WATER CHARGE: The rate for temporary water service is two times the rate for permanent service. The additional charge is to offset the cost of construction of expansion facilities. TIER 2 CHARGE: An MWD charge passed on by CWA to individual agencies. This is an added charge on all water sales by CWA in excess of the District’s 90% baseline water usage. UNIT: A unit of water is 100 cubic feet or 748 gallons of water. WATER CAPACITY FEES: Charges paid by customers to connect to a District water system for potable or recycled water service. Fees are determined by multiplying the demand factor for the meter size by the total of the District-wide capacity fee and applicable zone charge WATER RATES: Rates vary among classes of service. The water rates for residential customers use an accelerated block structure. As more units are consumed, a higher unit rate is charged. Effective in 2009, all non-residential customers are charged for water based on a tiered rate structure in which water rates are based on meter size and amount of units consumed. WORKING CAPITAL: A financial measure which represents available operating liquidity. The calculation is current assets minus current liabilities. 264 AF Acre-Foot/Feet AMR Automated Meter Reader/Reading APCD Air Pollution Control District APWA American Public Works Association ASCE American Society of Civil Engineers ASU Assigned Service Unit AWWA American Water Works Association BABS Build America Bonds BMP Best Management Practices BOD Biological Oxygen Demand CAD Computer Aided Design CAFR Comprehensive Annual Financial Report CCV City of Chula Vista CDFG California Department of Fish and Game CEQA California Environmental Quality Act CIP Capital Improvement Program CFS Cubic Foot Second CMMS Computerized Maintenance Management System COD Chemical Oxygen Demand COPS Certificates of Participation CRC Capacity Reservation Charge CSC Customer Service Charge CSD City of San Diego CSDA California Special Districts Association CSMFO California Society of Municipal Finance Officers CUWCC California Urban Water Conservation Council CWA County Water Authority (San Diego) DOH Department of Health DOT Department of Transportation DVP Delivery-versus-Payment EBPP Electronic Bill Pay and Presentment EDU Equivalent Dwelling Unit ERP Enterprise Resource Planning ESC Emergency Storage Charge FCF Flow Control Facility FEMA Federal Emergency Management Association FTE Full-time Equivalent List of Acronyms 265 List of Acronyms FY Fiscal Year GAAP Generally Accepted Accounting Principles GASB Government Accounting Standards Board GF General Funds GFOA Government Finance Officers Association GIS Geographic Information System GO General Obligation (bonds) GPCD Gallons per Capita per Day GPD Gallons per Day GPM Gallons per Minute GPS Global Positioning System HCF Hundred Cubic Foot HCP Habitat Conservation Plan HR Human Resources HVAC Heating Ventilation and Air Conditioning HWD Helix Water District IAC Infrastructure Access Charge ID Improvement District IID Imperial Irrigation District IMS Infrastructure Management System IRP Integrated Water Resources Plan IRS Internal Revenue Service IT Information Technology IVR Interactive Voice Response LAIF Local Agency Investment Fund LF Linear Feet MBR Membrane Bioreactor MG Million Gallons MGD Million Gallons per Day MND Mitigated Negative Declaration MOU Memorandum of Understanding MWD Metropolitan Water District NCCP Natural Community Conservation Plan NIMS National Incident Management System NOC Notice of Completion NOSC Notice of Substantial Completion O&M or O/M Operations and Maintenance OPEB Other Post Employee Benefits 266 List of Acronyms OWD Otay Water District PB Pacific Bay PERS Public Employees' Retirement System PL Pipeline PRS Pressure Reducing Station PRV Pressure Reducing Valve PS Pump Station QSA Quantitative Settlement Agreements RFP Request for Proposal RSD Rancho San Diego RTS Readiness-to-Serve RWCWRF Ralph W. Chapman Water Recycling Facility SAMP Sub-Area Master Plan SANDAG San Diego Association of Governments SBWRP South Bay Water Reclamation Plant SCADA Supervisory Control and Data Acquisition SDG&E San Diego Gas & Electric SS Suspended Solids SVSD Spring Valley Sanitation District SWRCB State Water Resources Control Board UML Unified Modeling Language USFWS United States Fish and Wildlife Service UWMP Urban Water Management Plan VFD Variable Frequency Drive VOIP Voice Over Internet Protocol WRMP Water Resources Master Plan WTP Water Treatment Plant 267 Index Administrative Expenditures 88,105,115,132 At-A-Glance 1 Awards 3-6 Balanced Scorecard Perspective 31 Budget Calendar 11 Budget Guide 8-9 Budget Process and Overview 10-14 Budget Summary 53-58 Capital Improvement Program Narrative 181-182 Capital Purchases 194 CIP Projects in Construction 184-187 CIP Justification and Impact on Operating Budget 193 CIP Major Projects 183 CIP Reserve Funds 188 Classification of Water Sales 79,97 Current Economic Conditions 19 Debt Management 70-71 Debt Policy 240-253 Debt Policy Glossary 253-257 Demographics 22 Department Budgets: Administrative Services 147-156 Board of Directors 137-138 Engineering 171-177 Finance 157-162 General Expense 179 General Manager 141-145 IT and Strategic Planning 147-154 Water Operations 163-169 Departmental Operating Budget Narrative 125-127 Director’s Division Boundaries 139 Five-Year Forecast 67 Formula for Sewer Rates 117-118 Fund Balance Summary by Fund 63 Fund Balances 69 Future, The 20-21 General Fund Forecast 68 General Fund Revenues, Expenditures and Transfers 62 General Information 2 General Expense 124 268 Index General Revenues 123 General Revenues and Expenses Narrative 121-122 Glossary 259-264 Investment Policy 227-233 Investment Policy Glossary 234-239 Labor and Benefits 128-129 Letter of Transmittal iv-xi List of Acronyms 265-267 Materials and Maintenance Expenditures 89,106,116,133 Meter Fees 84,101 MWD and CWA Fixed Fees (Pass-Through) 83 Operating Budget Summary 78,96,110 Operating Budget Summary by System 61 Operating Budget Summary – General Fund 59-60 Operating Expenditures by Department 134 Operating Expenditures by Object 135 Organization Chart 7 Past and Present 17-18 Position Count by Department 130-131 Potable Narrative 75-77 Power Costs 87,104,114 Projected Interest Payments by Debt Issuance 74 Projected Principal Payments by Debt Issuance 73 Recycled Narrative 93-95 Reserve Policy 197-224 Reserve Policy Glossary 225-226 Resolution 4302 15-16 Revenue History 85,102,113 Revenues and Expenditures by Fund 64-65 Revenues and Expenditures by Type 66 San Diego Rainfall 28 Schedule of Outstanding Debt 72 Service Area Assessed Valuation 25 Service Area Maps 91,107,119 Sewer Charges Summary by Service Class 111 Sewer Narrative 109 Sewer Rate Comparison 24 Six-Year CIP Funding by Category 189 Six-Year CIP Funding by Source 189 Six-Year CIP Projects by Category ($1,000)s 190-192 269 Index Statement of Values 30 Strategic Plan 29-52 Summary of Financial Policies 195-196 System Fees 82,100,112 Table of Contents i-iii Ten Largest Customers 27 Ten Principal Taxpayers 26 Unit Sales History and Meter Count by Customer Class 81,99 Water Purchases - Recycled 103 Water Purchases and Related Costs - Potable 86 Water Rate Comparison 23 Water Sales Summary by Meter Size 79,98 Water Sales Summary by Service Class 80 270