HomeMy WebLinkAbout08.a. (Handout) Receive the Fiscal Year 2014-15 Operations and Maintenance Budget; and the Fiscal Year 2014-15 Debt Service Fund Budget8.a. 014116104)- Fiscal Year 2014 -15 Operations and Maintenance Budget and Debt Service Fund Budget Presented by Finance Manager Thea Vassallo, CPA, CMA May 15, 2014 Central Contra Costa Sanitary District Protecting Public Health and the Environment O &M Revenue Assumptions • Sewer Service Charge = $439 $69.4M allocated to O &M • City of Concord $13.5M allocated to O &M • All Other - $3.3M O &M Expense Assumptions 1. $5.OM early pay down of CCCERA UAAL 2. Increase in CCCERA Prefund $4.3M FY 2013 -14 $16.2M vs $20.5M for FY 14 -15 3. Increases to Healthcare costs for active employees: Health Net +9.50% Kaiser +7.52% 4. Increases to Healthcare costs for retirees: Health Net +6.51% Kaiser +6.28% 5. $8.1 M allocation for GASB 45 Other Post - Employment Benefits (OPEB) ($5.3M retiree health premiums, remainder of $2.8M to Trust) 6. $1.OM TV Inspection Program moved from Capital to O &M 7. Vacancy Factors: 2% for Salaries 3% for Benefits L .. Total Operations and Maintenance Revenuesand Expenses FY 2014 -15 Budget ($000 Omitted) Revenues $86,232 Expenses $88,199 Expenses Over $(19967) Revenues 4 ��!) Operations and Maintenance FY 2013 -14 Budget vs FY 2014 -15 Budget ($000 Omitted) Budget Budget % Increase FY 2013 -14 FY 2014 -15 Change (Decrease) Revenues $75,152 $86,232 $11,080 14.7% Expenses 77,825 88,199 10,374 13.3% Revenues Over Expenses ($2,673) Projected O &M Reserves 6/30/15 (per audit) $11,247 (Est $2.41VI excess above 10% prudent reserves) Distribution of SSC O &M Capital Total Sewer Service Charge $365 $416 $40 $23 $405 $439 _,,1/ rz Key Increases Operations &Maintenance Expenses FY 2013 -14 Budget vs FY 2014 -15 Budget ($000 Omitted) Dollar % Increase Increase FY 2013 -14 Budget $77,825 Salaries 1,896 7.1% Benefits 5,456 16.8% Chemicals & Utilities 788 20.9% Repairs & Maintenance 1,146 30.4% Professional & Legal 62 13.0% Outside Services 501 17.9% All Other 525 - FY 2014 -15 Budget $88,199 Key Increases Operations &Maintenance Expenses FY 2013 -14 Projected vs FY 2014 -15 Budget ($000 Omitted) Dollar % Increase Increase FY 2013 -14 Projected $76,547 Salaries 2,994 11.7% COLA $1.OM, merit/step increases /promotions $1.3M, Directors $350K, other staffing plan additions $250K Benefits 5,219 15.9% Increase in retirement $5.2M, and healthcare $1.OM Chemicals & Utilities 167 4.5% Increase in landfill gas FY 2014 -15 Repairs & Maintenance 1,457 42.2% Moved TV inspection from CIB to O &M in FY 2014 -15 Professional & Legal 77 16.7% Arbitrations, OPEB study, and arbitrage audit in FY 2014 -15 Outside Services 888 36.8% Cost of service study $400K, NPDES studies in FY 2014 -15 All Other 850 - Election expense $350K, Prop 218 notice, professional carry- forward, leadership, and new staff training FY 2014 -15 Budget $88,199 7 C__- - -- r Summary of Staff Positions Positions Authorized Staffing Plan FY 14/15* 286 *Excludes Co -op's and Temps FTE Currently on Payroll April 25 In Process and Budgeted 24 Unbudgeted Positions 3 Subtotal 27 Total 286 DEBT SERVICE FY 2014 -15 BUDGET ($000) Omitted Revenue* $5,576 Debt Service Interest Expense $1,542 Principal Payments 41034 Expense $5,576 *Total budgeted Ad Valorem Tax is $12.4M; $5.6M is allocated to Debt Service Fund. 9 1` 1 Public Hearing June 5, 2014 • Approve and Adopt Budgets — Operations &Maintenance Budget —Debt Service Budget 10 I�1 Questions??