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Home My WebLink About04.b. Review November 2019 Financial Statements and Investment Reports Page 1 of 33 Item 4.b. CENTRAL SAN December 18, 2019 TO: FINANCE COMMITTEE FROM: CHRIS THOMAS, FINANCE ADMINISTRATOR KEVIN MIZUNO, FINANCE MANAGER REVIEWED BY: PHILIP LEIBER, DIRECTOR OF FINANCE AND ADMINISTRATION ANN SASAKI, DEPUTY GENERAL MANAGER ROGER S. BAILEY GENERAL MANAGER SUBJECT: REVIEW NOVEMBER 2019 FINANCIAL STATEMENTS AND INVESTMENT REPORTS Attached for review are the Financial Statements and Investment Reports for the month of November 2019. With the close of the fifth month of Fiscal Year(FY) 2019-20, budgetary results for the Operations and Maintenance (O&M), Sewer Construction, Self-I nsurance, and Debt Service funds still reflect that activities-to-date are on target and under budget in the aggregate. The O&M Fund expenditure results are favorable at approximately 38.1% of the total adopted FY 2019-20 budget to date, or 4.4% under the year-to-date budget target of approximately 42.5%. Although a small proportion of budgeted revenues is generally recognized in the first five months of the District's fiscal year, O&M fund revenues are above the year-to-date target by 13.1% reflecting direct billed sewer service charges revenues (i.e. governmental, non-profit, development-related) coming in higher than anticipated in the FY 2019-20 budget. This direct billed sewer service charge positive budget variance is attributable primarily to higher than projected customer flow rates and development activity resulting in more over-the- counter sewer service charges. The Sewer Construction Fund has spent$22,921,092 or 30.7% of total capital project appropriations for FY 2019-20. This figure falls just shy (1.4%) of the 32.1% target through November 2019, representing a noteworthy improvement over the prior month's target falling short of the capital target by 3.3%. The pace of several capital projects is projected to accelerate in the second half of the fiscal year following the District's expected and historical "s-curve" trend for capital projects. Most notably, significant progress on the following large capital projects is expected in the second half of the fiscal year: Solids Handling Facility Improvements (District Project (DP) 7348), Mechanical and Concrete Renovations (DP 7351), Moraga/Crossroads Pump Station (DP 8436), and Enterprise Resource Planning Replacement (DP 8250) capital projects. Strategic Plan Tie-In GOAL THREE: Be a Fiscally Sound and Effective Water Sector Utility Strategy 2- Manage costs December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 42 of 248 Page 2 of 33 ATTACHMENTS: 1. November 2019 Monthly Financials and Investment Reports December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 43 of 248 Page 1 of 31 CENTRAL CONTRA COSTA SANITARY DISTRICT December 10,2019 TO: THE BOARD OFD C S VIA: KEVIN MIZUNO FROM: CHRIS THOMAS SUBJECT: O&M Variance Analysis The following are brief year-to-date variance explanations through period ending November 30,2019 YTD Total FY YTD YTD Fav/(Unfav) O&M Revenues: Budget Budgeted Actual Variance Explanation Direct SSC higher than budgeted due to increased development and metered Total $89,560,370 $ 3,223,475 $ 3,645,483 $ 422,008 consumption. O&M Expenses: Total Labor Charges $ 52,789,084 $ 21,713,355 $ 20,250,091 $ 1,463,264 Some positions.budgeted for in July are filled later in the fiscal year resulting in savings. Unfunded Liabilities 12,436,841 5,181,915 4,877,099 304,816 Variance due to vacancy projections spread evenly throughout the year,however actual staffing terminations and additions occurs sporadically during the year. Chemicals 1,620,000 674,985 637,689 37,296 No significant variances. Utilities 4,209,350 1,753,865 1,692,825 61,040 No significant variances. Repairs&Maintenance 5,242,867 2,284,415 1,771,404 513,011 Mainly due to Outside Repairs being lower than budgeted thus far in the fiscal year. Budget is spread evenly throughout the year,however actual activity occurs sporadically every month. Variance should be minimal by year end. Hauling&Disposal 1,186,175 474,210 270,638 203,572 Mainly due to hazardous waste disposal being lower than budgeted thus far in the fiscal year. Budget is spread out evenly throughout the year,however actual activity occurs sporadically every month. Professional&Legal Services 874,300 364,250 88,196 276,054 Lower mostly due to lower Legal expenses thus far in the fiscal year. Outside Services 3,639,547 1,578,627 794,708 783,919 Mainly due to technical services expenses being lower than budgeted thus far in the fiscal year. Materials&Supplies 2,152,127 896,495 851,473 45,022 No significant variances. Other Expenses 2,464,834 1,444,303 1,241,178 203,125 Budget is spread evenly throughout the year,however actual activity occurs sporadically every month. Variance should be minimal by year end. All Other 969,650 885,265 887,228 (1,963) Minor variances for multiple account categories. Grand Total O&M Expenses $87,584,775 $37,251,685 $ 33,362,529 $ 3,889,156 December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 44 of 248 Page 2 of 31 Zy11 Central Contra Costa Sanitary District Protecting public health and the environment Revenue Report MTD Fund: 001 - RUNNING EXPENSE(O&M) November 2019 Fiscal Period 5/2020 Report Generated on Dec 10, 2019 10:34:05 AM Category MTD Estimate MTD Actual MTD%Rev YTD Estimate YTD Actual YTD%Rev Annual Estimate Unrealized Balance Annual%Rev Concord $0 $0 0.0% $0 ($45,667) 0.0% $14,570,000 $14,615,667 -0.3% HHW $8,000 $8,827 10.3% $40,000 $38,970 -2.6% $968,000 $929,030 4.0% Other $379,329 $541,003 42.6% $1,937,645 $2,017,960 4.1% $4,931,500 $2,913,540 40.9% Sewer Service Charges $9,166 $69,043 653.3% $1,245,830 $1,634,220 31.2% $69,090,870 $67,456,650 2.4% Total Revenue $396,495 $618,873 56.1% $3,223,475 $3,645,483 13.1% $89,560,370 $85,914,887 4.1% Page 3 of 31 ACV ts entral Contra Costa Sanitary District Protecting public health and the environment Expense Report - District Summary MTD Fund: 001 -RUNNING EXPENSE(O&M) November 2019 Fiscal Period 05/2020 Report Generated on Dec 10, 2019 8:33:54 AM $40,000,000.00 —Budget —Actual $35,000,000.00 ,251,685 ,362,529 $30,000,000.00- ,611,473 $25,000,000.00 493,756 $20,000,000.00 076,711 $19,309,309 $15,000,000.00 $15,010,366 $13,029,620 $10,000,000.00 $7,943 $5,000,000.00 $0.00- 11 Jul(1)2019 Aug(2)2019 Sep(3)2019 Oct(4)2019 Nov(5)2019 Fiscal Periods Page 4 of 31 AwLcentral Contra Costa Sanitary District Protecting public health and the environment Expense Report - District Summary MTD Fund: 001 - RUNNING EXPENSE(O&M) November 2019 Fiscal Period 0512020 Report Generated on Dec 10, 2019 8:33:54 AM Category Period Budget Period Actual Period Variance % YTD Budget YTD Actual YTD Variance % Annual % Budget SALARIES&WAGES $3,152,929 $3,050,525 $102,404 3.2% $15,764,645 $14,958,907 $805,738 5.1% $38,060,443 39.3% EMPLOYEE BENEFITS $1,560,433 $1,377,274 $183,159 11.7% $7,802,165 $7,303,898 $498,267 6.4% $19,177,010 38.1% CAPITALIZED ADM OVERHEAD ($370,691) ($360,107) ($10,584) -2.9% ($1,853,455) ($2,012,713) $159,258 8.6% ($4,448,369) 45.2% DIRECTOR FEES&EXPENSES $12,053 $10,904 $1,149 9.5% $60,265 $62,228 ($1,963) -3.3% $144,650 43.0% CHEMICALS $134,997 $143,981 ($8,984) -6.7% $674,985 $637,689 $37,296 5.5% $1,620,000 39.4% UTILITIES $350,773 $345,227 $5,546 1.6% $1,753,865 $1,692,825 $61,040 3.5% $4,209,350 40.2% REPAIRS&MAINTENANCE $536,883 $300,434 $236,449 44.0% $2,284,415 $1,771,404 $513,011 22.5% $5,242,867 33.8% HAULING&DISPOSAL $108,842 $39,927 $68,915 63.3% $474,210 $270,638 $203,572 42.9% $1,186,175 22.8% PROFESSIONAL&LEGAL SERV $72,850 $36,836 $36,014 49.4% $364,250 $88,196 $276,054 75.8% $874,300 10.1% OUTSIDE SERVICES $383,642 $191,923 $191,719 50.0% $1,578,627 $794,708 $783,919 49.7% $3,639,547 21.8% SELF-INSURANCE EXPENSE $0 $0 $0 0.0% $825,000 $825,000 $0 0.0% $825,000 100.0% MATERIALS&SUPPLIES $179,299 $166,182 $13,117 7.3% $896,495 $851,473 $45,022 5.0% $2,152,127 39.6% OTHER EXPENSES $481,819 $495,639 ($13,820) -2.9% $1,444,303 $1,241,178 $203,125 14.1% $2,464,834 50.4% UNFUNDED LIABILITIES $1,036,383 $1,070,026 ($33,643) -3.2% $5,181,915 $4,877,099 $304,816 5.9% $12,436,841 39.2% Total Expenses $7,640,212 $6,868,772 $771,440 10.1% $37,251,685 $33,362,529 $3,889,156 10.4% $87,584,775 38.1% Color Key: 0 to 10%over budget > 10%over budget M Page 5 of 31 ZVO' Central Contra Costa Sanitary District Protecting public health and the environment Expense Report - By Department MTD Fund: 001 - RUNNING EXPENSE (O&M) November 2019 Fiscal Period 05/2020 Report Generated on Dec 10, 2019 10:31:54 AM $3,000,000 ❑Period Budget $12,000,000 ❑YTD Budget ❑Period Actual ❑ YTD Actual $2,500,000 $10,000,000- $2,000,000- $8,000,000 $1,500,000 $6,000,000 $1,000,000 $4,000,000 $500,000 $2,000,000 LflL � $o � $0 °e� S�P ��. Po�� s��°�c�`�``�N ��°, oQ��oQ�c Q J�Q S.�P � Period Budget Period Actual Period Variance YTD Budget YTD Actual YTD Variance ADMINISTRATION $1,937,199 $1,565,965 $371,234 $10,112,987 $8,530,220 $1,582,767 ENGINEERING $1,465,963 $1,281,793 $184,170 $7,268,757 $6,273,948 $994,809 COLLECTION SYSTEM OPS. $1,222,796 $1,126,598 $96,198 $6,141,505 $5,663,062 $478,443 PLANT OPERATIONS $2,631,829 $2,574,659 $57,170 $11,852,311 $11,236,966 $615,345 PUMP STATIONS $241,210 $231,716 $9,494 $1,206,050 $1,151,958 $54,092 RECYCLED WATER $141,215 $88,042 $53,173 $670,075 $506,374 $163,701 Totals $7,640,212 $6,868,772 $771,440 $37,251,685 $33,362,529 $3,889,156 Page 6of31 CENTRAL CONTRA COSTA SANITARY DISTRICT RUNNING EXPENSE FUND TEMPORARY INVESTMENTS NOVEMBER,2019 INVESTMENTS (cents omitted) INTEREST INCOME DATE OF Days to ANNUAL CASH B.O.M. PURCHASE E.O.M. E.O.M %of CURRENT B.O.M. E.O.M. NO. ISSUER TYPE PURCHASE MATURITY Maturity YIELD OUTLAY FACE VALUE(MATURITY) FACE VALUE MKT VALUE Portfolio MONTH CUMULATIVE CUMULATIVE 519 State of Calif. LAW 10/99- ....... 1 (1) $8,000,000 $12,000,000 ($4,000,000) $8,000,000 $8,061,622 50.00% $18,641.10 $110,803.28 $129,444.38 RE13 US Gov't FHLB 9/18/2019 3/20/2020 111 1.899% 3,962,178 4,000,000 4,000,000 3,980,640 25.00% 6,166.67 9,044.44 15,211.11 RE14 US Gov't FHLB 9/18/2019 3/18/2020 109 1.909% 3,962,387 4,000,000 4,000,000 3,980,960 25.00% 6,200.00 9,093.34 15,293.34 (3) $15,924,564 $20,000,000 ($4,000,000) $16,000,000 $16,023,222 100.00% $31,007.77 $128,941.06 $159,948.83 (2) 3,729.10 29,629.16 33,358.26 $34,736.87 $158,570.22 $193,307.09 NOTE:(1) Annual yield of Local Agency Investment Fund(LAIF)varies with the composition of the Fund. The estimated yield as of November,2019 was 2.100%. (2) The face value indicates the value of the investment if held until maturity,which is the usual District Practice. (3) The weighted average yield of the total Running Expense portfolio is 2.000%. The weighted average maturity is.15 years. (4) The market value of the portfolio on November 30,2019 was$16,023,222. (5) The District has sufficient funds available combined with secured SSC and Property Tax received in December and April to cover six months of cash flow needs. COMPLIANCE STATEMENT: All investments comply with the District's internal investment policy approved by the Board of Directors December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 49 of 248 Page 7 of 31 CENTRAL CONTRA COSTA SANITARY DISTRICT December 10, 2019 TO: THE BOARD OF DI RS VIA: KEVIN MIZUNO(W FROM: CHRIS THOMAS SUBJECT: Sewer Construction Variance Analysis The following are brief year-to-date variance explanations through period ending November 30,2019: YTD Total FY YTD YTD Fav/(Unfav) S/C Revenues: Budget Budgeted Actual Variance Explanation Facilities Capacity Fees higher than budgeted due to payments received from Avalon Bay new building-200 apartments and $ 65,598,130 $ 4,149,729 $ 6,621,135 $ 2,471,406 commercial development. Total $ 65,598,130 $ 4,149,729 $ 6,621,135 $ 2,471,406 Total FY YTD YTD YTD SIC Expenses: Budget* Budgeted Actual Remaining %Spent of Projected YTD Budget Total $ 74,669,521 $ 23,961,059 $ 22,921,092 $ 1,039,967 95.66% Includes 18/19 carry-over($8,493,521) December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 50 of 248 Page 8of31 A001' Central Contra Costa Sanitary District Protecting public health and the environment Revenue Report MTD Fund: 002-SEWER CONSTRUCTION (Capital) November 2019 Fiscal Period 5/2020 Report Generated on Dec 10, 2019 10:34:05 AM Category MTD Estimate MTD Actual MTD%Rev YTD Estimate YTD Actual YTD%Rev Annual Estimate Unrealized Balance Annual%Rev Concord $0 $0 0.0% $0 $0 0.0% $11,630,000 $11,630,000 0.0% Other $592,997 $1,752,804 195.6% $3,449,729 $5,859,138 69.8% $21,749,000 $15,889,862 26.9% Sewer Service Charges $0 $32,193 0.0% $700,000 $761,996 8.9% $32,219,130 $31,457,134 2.4% Total Revenue $592,997 $1,784,997 201.0% $4,149,729 $6,621,135 59.6% $65,598,130 $58,976,995 10.1% Page 9of31 Sewer Fund (Capital) Spending FY 19-20 $30,000,000 $23,961,059 $25,000,000 2,921,092 $20,000,000 $16,598,794 $15,000,000 $11,789,041 $14,081,728 $10,000,000 $4,934,581 $5,000,000 $9,740,422 $4,282,657 $_ $1,627,894 July August September October November -Projected* -Actual Columnl July August September October November Projected* $ 2,066,477 $ 4,934,581 $ 11,789,041 $ 16,598,794 $ 23,961,059 Actual 1,627,894 4,282,657 9,740,422 14,081,728 22,921,092 *Projected-Current year budget allocated by month based on historical spending in previous 2 years December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 52 of 248 Page 10 of 31 PROGRAM/GM1851.4-Modified in Excel CAPITAL IMPROVEMENT BUDGET REPORT ACCOUNTING CENTRAL CONTRA COSTA SANITARY DISTRICT PERIOD ENDING: 11/30/2019 PERIOD 5/2020 F(D+E) G(C+D+E) PROJECT TOTAL TOTAL FY 2019-20 BUDGET I ADJUSTED APPROVED TOTAL TOTAL PR01 BUDGETS EXPENDITURES PROJECT APPROVED ADJUSTMENTS BUDGET EXPENDITURES SPENTIN REMAINING BUDGET NO PROJECT TITLE PYS(THRU FYE 18-19) PYS(THRU FYE 18-19) CARRY-FORWARD BUDGET FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 TYPE CS Collection System $ 16,633,417 17,490,252 (856,835) 27,129,000 200,000 27,329,000 26,472,165 8,009,535 18,462,641 TYPE TP Treatment Plant 44,592,999 39,917,024 4,675,975 28,631,000 665,000 29,296,000 33,971,975 10,839,008 23,132,963 TYPE GI General Improvements 8,695,483 5,883,070 2,812,413 5,369,000 30,000 5,399,000 8,211,413 2,716,234 5,495,182 TYPE RW Recycled Water 5,239,894 3,377,926 1,861,968 4,152,000 - 4,152,000 6,013,968 1,356,315 4,657,663 CIB Contingency - - - 895,000 (895,000) - - - - TOTAL DISTRICT $ 75,161,793 $ 66,668,272 $ 8,493,521 $ 6 $ - $ 22,921,092 $ December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 53 of 248 Page 11 of 31 PROGRAM/GM1851-4-Modified in Excel CAPITAL IMPROVEMENT BUDGET REPORT ACCOUNTING CENTRAL CONTRA COSTA SANITARY DISTRICT PERIOD ENDING: 11/30/2019 PERIOD 5/2020 F(D+E) G(C+D+E) PROJECT TOTAL TOTAL FY 2019-20 BUDGET ADJUSTED APPROVED TOTAL TOTAL PROJ BUDGETS EXPENDITURES PROJECT APPROVED ADJUSTMENTS BUDGET EXPENDITURES SPENTIN REMAINING BUDGET NO PROJECT TITLE PYS(THRU FYE 18-19) PYS(THRU FYE 18-19) CARRY-FORWARD BUDGET FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 TYPE CS Collection S st 5991 PH Sewer Renovation Phase 2 460,000 277,771 182,229 - - 182,229 51000 177,229 6534 Harper Lane Area CAD 800,000 412,260 387,740 - - 387,740 208,038 179,702 *6602 South Jackson CAD 411,290 391,290 20,000 - - 20,000 15,191 4,809 *6603 North Jackson CAD 276,557 53,313 223,244 - - 223,244 184,309 38,935 6679 Coredell Drive CAD 123,443 54,906 68,537 - - 68,537 19,105 49,432 *7367 Concord Main Metering Station 250,000 245,826 4,174 - - 4,174 (147,645) 151,819 8419 Collection System Planning LT 985,000 984,958 42 200,000 200,000 200,042 66,003 134,039 8436 Moraga/Crossroads PS Project 3,747,000 3,218,526 528,474 4,600,000 4,600,000 5,128,474 797,740 4,330,734 8441 CIPP Contract 17-20 400,000 275,923 124,077 200,000 200,000 324,077 3,369 320,708 8442 PS Equipment Piping Replacement PH2 61,000 - 61,000 103,000 103,000 164,000 - 164,000 8443 LG Diameter Pipe line Inspection 250,000 18,484 231,516 515,000 515,000 746,516 - 746,516 8444 Force Main Inspection Program 125,000 - 125,000 - - 125,000 - 125,000 *8446 Lafayette Sewer Renovation Phase 12 4,033,600 3,715,186 318,414 - - 318,414 15,429 302,985 8447 Pump Station Security Improvement 156,000 - 156,000 51,000 51,000 207,000 - 207,000 8448 Manhole Modifications 712,000 860,375 (148,375) 309,000 309,000 160,625 4,540 156,085 8449 Collection System Modeling Support 200,000 130,135 69,865 103,000 103,000 172,865 7,077 165,788 8450 Development Sewerage Support 1,130,000 1,309,893 (179,893) 900,000 900,000 720,107 400,868 319,239 8451 C.S.Sewer Renovation 62,527 - 62,527 4,473,000 (2,000,000) 2,473,000 2,535,527 - 2,535,527 8452 Lafayette Sewer Ren.Ph.13 500,000 1,561,461 (1,061,461) 3,817,000 3,817,000 2,755,539 2,070,300 685,239 8454 So.Orinda Sewer Ren.Ph.7 500,000 860,185 (360,185) 3,637,000 3,637,000 3,276,815 2,334,450 942,365 8455 W.C.Sewer Renov.Ph.13 500,000 2,604,854 (2,104,854) 3,621,000 3,621,000 1,516,146 1,121,177 394,969 8456 Danville Sewer Ren.Ph.3 500,000 381,637 118,363 4,100,000 4,100,000 4,218,363 88,133 4,130,230 8457 Pump Station Upgrades-Ph.2 50,000 - 50,000 500,000 500,000 550,000 70,510 479,490 *8458 Martinez Sewer Renov.Ph.6 100,000 11,405 88,595 - 500,000 500,000 588,595 134,058 454,537 *8459 Lafayette Sewer Renov.Ph.14 100,000 24,336 75,664 - 500,000 500,000 575,664 129,698 445,966 *8460 WC Sewer Renov.Ph.14 100,000 53,907 46,093 - 500,000 500,000 546,093 255,937 290,156 *8461 So.Orinda Sewer Ren.Ph.8 100,000 43,621 56,379 - 500,000 500,000 556,379 226,248 330,131 **8462 S.R.Pump Station Flow Diversion - - 200,000 200,000 200,000 - 200,000 Rounding I I I I 1 11 otal FY 2019-20 CS Amoun 16,633,417 17,490,252 (856,835) 2791, *Italic Projects open but not in CI3 for 19/20 Not in 19/20 Budget. New projects opened in Aug.2019. Funds transferred from Contingency 9990 December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 54 of 248 Page 12 of 31 PROGRAM/GM1851-4-Modified in Excel CAPITAL IMPROVEMENT BUDGET REPORT ACCOUNTING CENTRAL CONTRA COSTA SANITARY DISTRICT PERIOD ENDING: 11/30/2019 PERIOD 5/2020 F(D+E) G(C+D+E) PROJECT TOTAL TOTAL FY 2019-20 BUDGET ADJUSTED APPROVED TOTAL TOTAL PROJ BUDGETS EXPENDITURES PROJECT APPROVED ADJUSTMENTS BUDGET EXPENDITURES SPENTIN REMAINING BUDGET NO PROJECT TITLE PYS(THRU FYE 18-19) PYS(THRU FYE 18-19) CARRY-FORWARD BUDGET FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 TYPE TP Treatment Pla *6172 Sludge Blending Tank Repair 776,000 - 776,000 - - 776,000 565,725 210,275 7292 Switchgear Refurbishment-Ph.2 684,548 473,274 211,274 200,000 200,000 411,274 11,679 399,595 7304 Instr&Controls PLC Upgrade 500,000 470,528 29,472 - - 29,472 2,218 27,254 7315 Applied Research and Innovations 557,274 290,336 266,938 300,000 300,000 566,938 - 566,938 7317 Plant Control System Network Upgrades 765,000 281,461 483,539 120,000 120,000 603,539 491,905 111,634 *7320 Plant Energy Optimization 1,094,000 1,004,604 89,396 - - 89,396 279 89,117 7322 Fire Protection System Ph.2 1,406,000 1,340,832 65,168 65,168 23,974 41,194 *7326 Equipment Replacement FY 15-FY24 1,629,000 1,628,975 25 - - 25 207,220 (207,195) 7327 Headwork's Screening Upgrade 8,305,000 8,304,264 736 - - 736 33,186 (32,450) 7328 Influent Pump Electrical improvements 610,000 431,527 178,473 800,000 800,000 978,473 153,648 824,825 7330 Piping Renovation Phase 9 3,180,000 3,127,343 52,657 - - 52,657 25,248 27,409 7339 T.Plant Control System I/O Replacement 1,370,000 1,286,269 83,731 1,100,000 1,100,000 1,183,731 150,414 1,033,317 7341 WC/Grayson Creek Levee Rehab 100,000 76,528 23,472 200,000 200,000 223,472 59,556 163,916 7348 Solids Handling Facility Improvements 9,914,000 9,243,507 670,493 6,550,000 6,550,000 7,220,493 1,661,114 5,559,379 7349 Aeration&Energy Upgrade 1,500,000 749,790 750,210 3,500,000 3,500,000 4,250,210 690,904 3,559,306 7351 Mechanical&Concrete Renovation 5,044,000 5,534,806 (490,806) 6,400,000 6,400,000 5,909,194 3,506,423 2,402,771 7352 UV Disinfection Upgrades 500,000 294,751 205,249 600,000 600,000 805,249 169,634 635,615 7353 Outfall Improvements Ph.7 100,000 54,551 45,449 500,000 500,000 545,449 133,572 411,877 7354 TP Security Improvements 137,000 41,951 95,049 718,000 718,000 813,049 4,472 808,577 7355 Odor Control Upgrade Ph.1 - - - - - - - - 7357 Plant Wide Instrumentation Upgrade 290,000 77,858 212,142 450,000 450,000 662,142 1,006 661,136 *7358 Innovation Bioenergy Demo 300,000 270,796 29,204 - - 29,204 - 29,204 7359 Solids Conditioning Bldg.roof replacement 1,300,000 1,195,265 104,735 - - 104,735 440 104,295 7360 Existing Plant Facility Drawing 200,000 158,215 41,785 100,000 100,000 141,785 19,395 122,390 7362 POB Seismic Upgrades 3,331,177 2,850,440 480,737 2,793,000 465,000 3,258,000 3,738,737 2,604,024 1,134,713 7363 Treatment Plant Planning 900,000 719,153 180,847 500,000 500,000 680,847 178,093 502,754 7364 TP Safety Enhancement Ph.5 100,000 10,000 90,000 600,000 600,000 690,000 9,154 680,846 7369 Piping Renovation-Phase 10 - - - 750,000 750,000 750,000 - 750,000 7370 Annual Infrastructure Replacement - - - 2,200,000 2,200,000 2,200,000 135,725 2,064,275 7371 Condition Assessment of Buried Pipelines - - - 250,000 250,000 250,000 - 250,000 **7373 Fire Protection System Ph.3 - - - - 200,000 200,000 200,000 - 200,000 Rounding I 1 1 (4) otal FY 2019-20 TP AmoUn $ 44,592,999 111111111K 39,917,024 4,675,975 33,971,975 10,839,008 23,132,9 *Italic Projects open but not in CIB for 19/20 Not in 19/20 Budget. New projects opened in Sept.2019. Funds transferred from Contingency 9990 December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 55 of 248 Page 13 of 31 PROGRAM/GM1851.4-Modified in Excel CAPITAL IMPROVEMENT BUDGET REPORT ACCOUNTING CENTRAL CONTRA COSTA SANITARY DISTRICT PERIOD ENDING: 11/30/2019 PERIOD 5/2020 F(D+E) G(C+D+E) PROJECT TOTAL TOTAL FY 2019-20 BUDGET ADJUSTED APPROVED TOTAL TOTAL PROJ BUDGETS EXPENDITURES PROJECT APPROVED ADJUSTMENTS BUDGET EXPENDITURES SPENTIN REMAINING BUDGET NO PROJECT TITLE PYS(THRU FYE 18-19) PYS(THRU FYE 18-19) CARRY-FORWARD BUDGET FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 TYPE GI General Im roveme 8207 General Security and Access $ 134,977 134,975 2 150,000 150,000 150,002 11,869 138,133 8230 Capital Legal Services 178,665 142,411 36,254 20,000 20,000 56,254 3,590 52,664 8236 District Easements 258,047 224,799 33,248 75,000 75,000 108,248 12,458 95,790 8240 IT Development 2,738,794 2,456,461 282,333 500,000 500,000 782,333 119,502 662,831 8243 Server Room Relocation 2,000,000 1,351,513 648,487 - - 648,487 765,721 (117,234) 8249 CSO Dump Pad Modifications 60,000 12,409 47,591 - - 47,591 46,941 650 8250 ERP Replacement 600,000 - 600,000 3,105,000 3,105,000 3,705,000 609,706 3,095,294 8251 Capital improvement program&Budget Improvement - - - 350,000 350,000 350,000 91,308 258,692 **8252 POB E.V.Charging Station - - - - 30,000 30,000 30,000 12,894 17,106 8516 District Equipment Acquisition 876,000 798,811 77,189 100,000 100,000 177,189 33,915 143,274 8517 Vehicle Replacement Program 1,849,000 821,691 1,027,309 1,069,000 1,069,000 2,096,309 1,007,880 1,088,429 9999 Capital Project Clearing(Accounting Use Only)** - (60,000) 60,000 - - 60,000 450 59,550 Rounding 3 otal FY 2019-20 GI Amount $ 8,695,483 5,883,070 2,812,413 5,369,000 30,000 7 8,211,413 2,716,234 5,495,182 Not in 19/20 Budget. New projects opened in July 2019. Funds transferred from Contingency 9990 December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 56 of 248 Page 14 of 31 PROGRAM/GM1851.4-Modified in Excel CAPITAL IMPROVEMENT BUDGET REPORT ACCOUNTING CENTRAL CONTRA COSTA SANITARY DISTRICT PERIOD ENDING: 11/30/2019 PERIOD 5/2020 F(D+E) G(C+D+E) PROJECT TOTAL TOTAL FY 2019-20 BUDGET ADJUSTED APPROVED TOTAL TOTAL PROJ BUDGETS EXPENDITURES PROJECT APPROVED ADJUSTMENTS BUDGET EXPENDITURES SPENTIN REMAINING BUDGET NO PROJECT TITLE PYS(THRU FYE 18-19) PYS(THRU FYE 18-19) CARRY-FORWARD BUDGET FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 FY 2019-20 TYPE RW Recycled Water 7306 Zone 1 Recycled Water 532,894 508,654 24,240 100,000 - 100,000 124,240 22,158 102,082 7346 ReW Distribution Sys Surge Analysis 205,000 152,921 52,079 - - - 52,079 6,605 45,474 7361 Filter Plant Improvments 2,537,000 1,343,105 1,193,895 3,452,000 3,452,000 4,645,895 923,396 3,722,499 7365 Recycle Water Clearwell Repairs 1,700,000 1,364,144 335,856 - - 335,856 390,424 (54,568) 7366 ReW Distribution System Renov.Program 15,000 - 15,000 500,000 - 500,000 515,000 - 515,000 7368 Water Exchange Project 250,000 9,102 240,898 100,000 100,000 340,898 13,732 327,166 Rounding 10 Otal FY 2019-20 RW Amount $ 5,239,894 3,377,926 1,861,968 - 4,152,000 6,013,968 1,356,315 4,657,663 9990 CONTINGENCY-ALL PROGRAMS - - - 895,000 (895,000) - - - GRAND TOTAL $ 75,161,793 66,668,272 8,493,521 66,176,000 - 66,176,000 74,669,521 22,921,092 51,748,449 December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 57 of 248 Page 15 of 31 A I B C D E F G N O 1 FY 19-20 CAPITAL BUDGET TRANSFERS 2 PERIOD ENDING: 11/30/19 position paper Position Paper GM Memo GM Memo GM Memo 06/20/19&GM 08/22/19 09/24/19 09/27/19 11/21/19 memo Item 11 19/20 Contingency 3 PROJ.# PROJECTS TOTAL Balance 4 5 **8252 POB E.V. Charging Station 30,000 30,000 6 **8462 SR Pump station Flow Diversion 200,000 200,000 7 **7373 Fire Protection System Ph. 3 200,000 200,000 8 *8451 C.S.Sewer Renovation (2,000,000) (2,000,000) 9 *8458 Martinez Sewer Ren. Ph. 6 500,000 500,000 10 *8459 Lafayette Sewer Ren. Ph. 14 500,000 500,000 11 *8460 W.C.Sewer Renov. Ph. 14 500,000 500,000 12 *8461 So.Orinda Sewer Ren. Ph.8 500,000 500,000 38 7362 POB Seismic Upgrades 465,000 465,000 39 40 41 42 9990 Capital Projects-Contingency (30,000) (200,000) (200,000) - (465,000) (895,000) - 43 46 47 Total - 65 ** New project-not in 19/20 Budget 667 * Not actual transfers. All part of one project split into individual projects for construction December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 58 of 248 Page 16 of 31 O&M PROJECTS-EXPENDITURE LIST ACCOUNTING PERIOD ENDING: 11/30/19 5/2020 OM043- Naval Weapons Station Prior years Project expended Expenditure type through 18-19 1 Jul.'19 Aug.'19 Sept.'19 Oct.'19 Nov.'19 Dec.'19 Jan.'20 Feb.'20 Mar.'20 Apr.'20 May'20 Jun.'20 2019-20 YTD to date Salary&Benefits $ 17,429 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 17,429 Technical Services $ 75,169 1,938 - 6,255 3,259 - - - - - - - - 11,452 $ 86,620 Total $ 92,598 $ 1,938 $ - $ 6,255 $ 3,259 $ - $ - $ - $ - $ - $ - $ - $ - $ 11,452 $ 104,049 OM080 -CoCo Farm(Kiewit Future Farm Proposal) Prior years Project expended Expenditure type I through 18-19 Jul.'19 Aug.'19 Sept.'19 Oct.'19 Nov.'19 Dec.'19 Jan.'20 Feb.'20 Mar.'20 Apr.'20 May'20 Jun.'20 2019-20 YTD to date Salary&Benefits $ 210,665 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 210,665 Other Charges $ 74,996 - - - - - - - - - - - - - $ 74,996 Total $ 285,661 $ $ $ $ $ $ $ $ $ $ $ $ $ $ 285,661 OM083- Refinery Recycled Water Exchange Prior years Projectexpended Expenditure type through 18-19 Jul.'19 Aug.'19 Sept.'19 Oct.'19 Nov.'19 Dec.'19 Jan.'20 Feb.'20 Mar.'20 Apr.'20 May'20 Jun.'20 2019-20 YTD to date Salary&Benefits $ 84,070 $ 8,921 $ 7,080 $ 5,452 $ 2,319 $ 2,865 $ - $ - $ - $ - $ - $ - $ - $ 26,637 $ 110,707 other Charges $ - - - - - - - - - - - $ - Total $ 84,070 $ 8,921 $ 7,080 $ 5,452 $ 2,319 $ 2,865 $ - $ - $ - $ - $ - $ - $ - $ 26,637 $ 110,707 December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 59 of 248 Page 17 of 31 CENTRAL CONTRA COSTA SANITARY DISTRICT SEWER CONSTRUCTION FUND TEMPORARY INVESTMENTS NOVEMBER,2019 INVESTMENTS (cents omitted) INTEREST INCOME DATE OF Days to ANNUAL CASH B.O.M. PURCHASE E.O.M. E.O.M. %of CURRENT B.O.M. E.O.M. NO. ISSUER TYPE PURCHASE MATURITY Maturity YIELD OUTLAY FACE VALUE (MATURITY) FACE VALUE MKT VALUE Portfolio MONTH CUMULATIVE CUMULATIVE 519 State of Calif. LAIF 8/86-2/90 ---- 1 (1) $25,000,000 $20,000,000 $5,000,000 $25,000,000 $25,192,568 62.50% $37,972.60 $177,104.57 $215,077.17 946 FHLMC Fed Agency 5/28/19 11/12/19 0 2.37 4,946,100 5,000,000 (5,000,000) 0 0.00% 3,529.17 39,462.49 42,991.66 947 FHLB FHLB Note 6/13/19 12/11/19 11 2.20 4,946,077 5,000,000 5,000,000 4,946,077 12.50% 8,937.50 37,201.25 46,138.75 948 FHLB Govt/FHLB 6/21/19 11/18/19 0 2.02 4,957,917 5,000,000 (5,000,000) 0 0.00% 4,769.44 34,732.09 39,501.53 949 FHLB Fed Agency 9/18/19 03/20/20 111 1.90 4,952,722 5,000,000 5,000,000 4,975,800 12.50% 7,708.33 11,305.56 19,013.89 950 FHLB Fed Agency 9/18/19 03/18/20 109 1.91 4,952,983 5,000,000 5,000,000 4,976,200 12.50% 7,750.00 11,366.66 19,116.66 5,000,000 (4) $49,755,799 $45,000,000 ($10.000.000) $40.000.000 $40,090.645 100.00% $70,667.04 $311,172.62 $381,839.66 (3) (5) $5,944.19 89,336.66 95,280.85 $76.611.23 $400.509.28 $477.120.51 NOTE: (1) Annual Yield of Local Agency Investment Fund(LAIF)varies with the composition of the Fund. The estimated yield as of November,2019 was 2.100%. (2) The face value indicates the value of the investment if held until maturity, which is the usual District practice. (3) The weighted average yield of the total Sewer Construction portfolio is 2.108%. The weighted average maturity is.11 years. (4) The market value of the portfolio on November 30,2019 was$40,090,645. GASB 31 requires adjusting investments to market value. The District will adjust annually,but report market values monthly. (5) The District has sufficient funds available combined with secured SSC and Property Tax received in December and April to cover six months of cash flow needs. COMPLIANCE STATEMENT: All investments comply with the District's internal investment policy approved by the Board of Directors December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 60 of 248 Page 18 of 31 AwLcentral Contra Costa Sanitary District Protecting public health and the environment Revenue Report MTD Fund: 003-SELF-INSURANCE November 2019 Fiscal Period 5/2020 Report Generated on Dec 10, 2019 10:34:05 AM Category MTD Estimate MTD Actual MTD%Rev YTD Estimate YTD Actual YTD%Rev Annual Estimate Unrealized Balance Annual%Rev Other $16,741 $9,309 -44.4% $908,705 $911,997 0.4% $1,025,900 $113,903 88.9% Total Revenue $16,741 $9,309 -44.4% $908,705 $911,997 0.4% $1,025,900 $113,903 88.9% Page 19 of 31 ACV ts entral Contra Costa Sanitary District Protecting public health and the environment Expense Report - By Department MTD Fund: 003-SELF-INSURANCE November 2019 Fiscal Period 05/2020 Report Generated on Dec 10, 2019 10:31:54 AM $80,000 ❑Period Budget $600,000 ❑ YTD Budget ❑Period Actual ❑ YTD Actual $500,000- $60,000-/ $400,000- $40,000-'-- 400,000 $40,000 $300,000- $200,000- $20,000- $100,000- $0- 300,000$200,000$20,000 $100,000$0 $0 Period Budget Period Actual Period Variance YTD Budget YTD Actual YTD Variance $76,972 $47,454 $29,518 $534,860 $460,289 $74,571 Totals $76,972 $47,454 $29,518 $534,860 $460,289 $74,571 Page 20 of 31 CENTRAL CONTRA COSTA SANITARY DISTRICT SELF-INSURANCE FUND TEMPORARY INVESTMENTS NOVEMBER,2019 INVESTMENTS (cents omitted) INTEREST INCOME DATE OF Days to ANNUAL CASH B.O.M. PURCHASE E.O.M. E.O.M %of CURRENT B.O.M. E.O.M. NO. ISSUER TYPE PURCHASE MATURITY Maturity YIELD OUTLAY FACE VALUE (MATURITY) FACE VALUE MKT VALUE Portfolio MONTH CUMULATIVE CUMULATIVE 519 State of Calif. LAW 10/99- ------- 1 (1) $6,900,000 $6,900,000 $6,900,000 $6,953,149 100.00% $11,909.59 $53,305.57 $65,215.16 (3) $6,900,000 $6,900,000 $0 $6,900,000 $6,953,149 100.00% $11,909.59 $53,305.57 $65,215.16 (2) (4) $2,351.27 $2,351.27 $14,260.86 $53,305.57 $67,566.43 NOTE: (1) Annual yield of Local Agency Investment Fund(LAIF)varies with the composition of the Fund. The estimated yield as of November,2019 was 2.100%. (2) The face value indicates the value of the investment if held until maturity,which is the usual District Practice. (3) The weighted average yield of the total Self-Insurance portfolio is 2.100°/x. (4) The market value of the portfolio on November 30,2019 was$6,953,149. COMPLIANCE STATEMENT: All investments comply with the District's internal investment policy approved by the Board of Directors. December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 63 of 248 Page 21 of 31 ANLs entral Contra Costa Sanitary District Protecting public health and the environment Revenue Report MTD Fund: 004- DEBT SERVICE November 2019 Fiscal Period 5/2020 Report Generated on Dec 10, 2019 10:34:05 AM Category MTD Estimate MTD Actual MTD%Rev YTD Estimate YTD Actual YTD%Rev Annual Estimate Unrealized Balance Annual%Rev Other $0 $0 0.0% $0 $0 0.0% $2,982,415 $2,982,415 0.0°% Total Revenue $0 0.0% $2,982,415 $2,982,415 0.0% Page 22 of 31 ACV ts entral Contra Costa Sanitary District Protecting public health and the environment Expense Report - By Department MTD Fund: 004- DEBT SERVICE November 2019 Fiscal Period 05/2020 Report Generated on Dec 10, 2019 10:31:54 AM $80,000 ❑Period Budget $500,000 ❑ YTD Budget ❑Period Actual ❑ YTD Actual $400,000- $60,000-/ $300,000 $40,000 $200,000 $20,000 $100,000 $0 $0 Period Budget Period Actual Period Variance YTD Budget YTD Actual YTD Variance $69,784 $0 $69,784 $348,920 $435,857 ($86,937) Totals $69,784 $0 $69,784 $348,920 $435,857 ($86,937) Page 23 of 31 DASHBOARD DATA (SELECTED DATA ON MATTERS OF CONTINUING BOARD INTEREST) December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 66 of 248 Page 24 of 3 ENSIGN AND OPEB LIABILITY AND FUNDING STATUS Pension � . Million $160 100% Million $90 100% $140 90% $80 90% 80% $70 80% $120 70% $60 70% $100 60/o 0 $50 60% 50% $80 50% $40 40 $60 40% $30 30% 30% $20 20% $40 20% $10 0 10% 20 I $ 10% $0 0% $00% 0 0 0 0 0 0 0 N N N N N N N 1 ,LOQ ,LOQ ,LOQ ,LOQ ,LOQ ,LOQ ,LOQ ,LOQ O O N N iIIIIIIIIIIIIIIIIIIII.1AAL Funded% iIIIIIIIIIIIIIIIIIiILIAAL Funded% Notes: * Pension:2018 figure is based on CCCERA valuation presented 10/9/2019 to CCCERA Board. ** OPEB-Valuations projected liabilities less assets as of June 30 of that year *** Pension funded percentage excludes Section 115 Trust Assets(established in FY 2017-18). ****June 2019 OPEB figure is market value of OPEB assets/Jan 2019 actuarial accrued liability December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 67 of 248 Page 25 of 31 COMPONENTS OF THE PENSION URAL $74 MILLION AS OF 2018 CCCERA VALUATION ($74 MILLION IS UNCHANGED FROM 2017) Assumption Change U J � Q � Q v � L O S U M ILL Additional UAAL Prepayment to CCCERA Subsequent Actuarial Losses J Q Q W Restart of Amortization s c .N Discount Rate from 7.75%to 7.25% L U C N L O Depooling Implementation U fp LL Actuarial Losses from 2008-2012 $(30,000,000) $(20,000,000) $(10,000,000) $- $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 Notes: • Pension Pre-Funding Trust assets of$8.4 million (with another$1.25 million pending) are available Df6�nh�rel$,�lC% MMA a rf8l% agbWittee Meeting Agenda Packet- Page 68 of 248 Page 319 he 26 FTSNSION UAAL PROJECTION Anticipated UAAL with Scheduled Amortization (Blue) and with Additional UAAL Payments to Pension Prefunding Trust to Date and at $1.25 million prospectively (Green) millions $80 $60 $40 $20 $0 � � 1 a ($20) ($40) 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 ■Unfunded Liability(2018 Valuation) $74 $66 $59 $50 $40 $34 $27 $19 $10 $0 ■ Net UAAL(2018 Valuation) with Pension prefunding Trust offset 69 58 49 38 26 18 11 2 (8) (19) Notes: • Based on 2018 CCCERA Valuation. • Chart shows scheduled amortization of UAAL(over 18 years for each annual layer of historic UAAL),assuming no additional UAAL is generated. • Second bar shows UAAL offset by Pension Prefunding Trust balance,with continuing$1.25 million discretionary contributions through 2023 (at which point D69'r ��n ' Paf�'(i®�I eG, fn'r t i R�� i��'Pa 80'0� &,of 248 Page 32 #Abe 27 of 31 PROJECTED UAAL WITH PENSION PREFUNDING TRUST: PROGRESS IS ABOUT $6.4 MILLION BEHIND SCHEDULE DUE TO NEW 2018 LAYER ADDED TO UAAL Ro $ in Millions 60 - 20 (20) (40) 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 ■ Net UAAL(2018 Valuation) with Pension prefunding Trust offset 69 58 49 38 26 18 11 2 (8) (19) ■ Net UAAL(2017 Valuation) $62 $52 $43 $33 $20 $13 $5 ($4) ($14) ($25) with Pension prefunding Trust offset Notes: • An additional$6.4 million was added to the UAAL due to actuarial loss($5.3 million)and assumption changes($1.1 million)in the CCCERA valuation for 2018 presented to the CCCERA Board on 10/9/2019. • The CCCERA UAAL remained essentially constant at$74 million as of the 2017 and 2018 valuations. The above chart shows the current outlook for reducing UAAL based on the 2018 valuation versus the outlook as of the 2017 valuation. The CCCERA UUAL has also been reduced by the actual& projected Pension Prefunding Trust balance. December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 70 of 248 Page (ND TRANSFERS-CURRENT YEAR Cause for Transfers Total Original Project Budgets Compared to Transfers #of transfers $7,000,000 $6,000,000 $5,000,000 1 0 $4,000,000 ----------- $3,000,000 ------------- ■ ago ■ o ■ o v ■ o -� f6 ■ v /„/. -o Q o N °' v Co a . 2 _ ------------- z 0 $2,000,000 3 v $ p 3 U .Y O N N LL .� J o Uj U °' $1,000,000 F.Cost exceeded initial budget E.New project scope D. New Project C.Developer/CAD or other cost neutral B.Cashflow accelerations $- A.Bundling/Unbundling Notes: There was one transfer in November,for Project 7362, POS Seismic Upgrades for$465,000 from Contingency. December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 71 of 248 Pacc@PB oTFMNSFERS SINCE FY 2016=1 7 #of Cause for Transfers Total Original Project Budgets Compared to transfers Transfers $60,000,000 $50,000,000 $40,000,000 4 $30,000,000 2 0 $20,000,000 $10,000,000 ■ � ■ o ■ o ■ v ■ Q ■ v F.Cost exceeded initial budget - a ° v a E.New project scope o 2 °; ou - D.New Project m' v v 3 v v = C.Developer/CAD or other cost neutral o z ° B.Cashflow accelerations 3 > ° d 3 .° A.Bundling/Unbundling o N a, o t z �a s v o ui U co December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 72 of 248 Page 30 of 31 FY 2019-20 Running Expense Fund Total Cash & Investment Balances (Actuals through November 2019) $60.0 $59.3 $53.7 $50.0 $47.2 $48.6 $49.8 $43.4 $40.9 $40.0 $37.3 $38.2 $38.4 $33.8 $32.9 $30.0 $29.0 $28.2 $24.6 $24.2 $24.0 $23.7 $20.0 $17.6 $18.9 $is.z $10.0 $0.0 e;k ee e� e� > �eQ D �o M Projected Balance* MActual Balance Reserve Target at Year End** NOTES: * Projected balances were generated in June 2019 based on budgeted revenues and expenses for FY 2019-20 and applied to the actual balance at Jun 30,2019 **The Reserve Target at Year End is the minimum balance required at June 30, 2020 to comply with the District Policy December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 73 of 248 Page 31 of 31 FY 2019-20 Sewer Construction Fund Total Cash & Investment Balances (Actuals through November 2019) $70.0 $62.5 �` $61.6 +'60'0 $49.8 $52.4 $50.7$56.3 $58.3 $48.1 $56.1 $52.3 $51.9 $52.6 $54.0 $52.1 $50.0 $47.0 $47.6 $43.2 $42.6 $40.0 $39.2 $30.0 $32.0 $30.4 $20.0 $10.0 $0.0 e� ee et �t � o� �ellp ce�� MProjected Balance* MActual Balance —Reserve Target at Year End** NOTES: * Projected balances were generated in June 2019 based on budgeted revenues and expenses for FY 2019-20 and applied to the actual balance at Jun 30,2019 **The Reserve Target at Year End is the minimum balance required at June 30, 2020 to comply with the District Policy December 18, 2019 Regular FINANCE Committee Meeting Agenda Packet- Page 74 of 248